FXCM $50 Micro. Forex Traders I have a few questions

Discussion in 'Trading' started by bathrobe, Sep 14, 2011.

  1. HI,

    I trade futures and equities/options, I signed up for the CNBC million dollar challenge and they have an offer for a micro account in which they will put in 50$ and I would add a little more.

    I have never traded forex but I could use my futs analysis to trade EUR/USD, my question is will they liquidate if I am wrong and the 50$ account goes to zero, or will they let it and then I will owe?

    I am asking because I have never dealt with a forex broker but have never really heard good things.

    Thanks in advance.

    Good Trading to you all.
     
  2. Jason Rogers

    Jason Rogers ET Sponsor

    Hi bathrobe,

    The free $50 micro account is from FXCM, and I'm FXCM's online ambassador for the Elite Trader community.

    Regarding trade liquidation, we do have a margin call feature that automatically closes all open trades if there is no usable margin. We also have a no debit balance policy so your maximum loss from trading is limited to the amount in your account.

    Let me know if you have more questions and good luck trading as well!

    - Jason Rogers
     
  3. Chausey

    Chausey

    How soon can the trader withdraw the $50? I have a hard time believing this is a free fifty dollars.