Is 1 lot in 1:10 equal to 0.1 lot in 1:100 leverage ?
To get $1 for 1 pip, you need to open a mini account and trade minilots (10,000 units) . Note that the $1/pip for 10,000 units is only for pairs with USD as the quote currency. For example: EUR/USD, GBP/USD, or AUD/USD.
Leverage determines how much margin you need to enter a trade. If you select 1:100, you need $100 margin for 1 minilot. If you select 1:10, you need $1,000 for 1 minilot. So: margin = lot size * leverage.
To get $1 for 1 pip, you need to open a mini account and trade minilots (10,000 units) . Note that the $1/pip for 10,000 units is only for pairs with USD as the quote currency. For example: EUR/USD, GBP/USD, or AUD/USD. Leverage determines how much margin you need to enter a trade. If you select 1:100, you need $100 margin for 1 minilot. If you select 1:10, you need $1,000 for 1 minilot. So: margin = lot size * leverage.
So if I open account with margin $1000 should I choose 1:10 or 1:100 leverage to get 1pips = $1 ? What I understand is 1:10 is usually for mini account and 1:100 is for normal account. Your equation (margin = lot size * leverage) is rather confusing.
Usually if I open normal account, the leverage is 1:100 and 1pips GBP/USD is around $10 but with new type of online trading which allow mini trading (this term is rather vague, connotates with the leverage 1:10 or capital under $10000 is still not clear) you can trade 0.1 lot so what I meant with above question:
Could I trade 0.1 lot in 1:100 leverage to get the same result with 1 lot in 1:10 leverage ($1 per 1 pips movement) because I saw many demo of MT4 has this 0.1 lot features. Why should I take 1:10 leverage if with normal account although I only put $1000 margin I could get $1 per 1 pips if I only trade 0.1 lot so after I have accumulate equity I could trade normally 1 lot and no need to upgrade/re-signup again from mini account to normal account to get higher profit 1pips=$10. That's what I meant.
open an account with leverage 1:100 and open your trades with 0.1 lots. then your pips value will be 1$.
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Is it the same 1 lot in 1:10 to 0.1 lot in 1:100 leverage ? So when registering for opening live NF trading should you use 1:100 leverage or 1:10 leverage if you open mini account $1,000 or $200 for example? My target is to get $1 per 1 pips, should I open 1:10 or 1:100 leverage ?