This definitely seems to be a decent option for trading when it comes to beginners. So you’re saying it’s always a safe bet to start with smaller lots, but then doesn’t it restrict my trading?
There are many brokers out there which provide micro and nano lots for trading. There cannot be done much with these lots because the profit potential is very low. It is not possible to earn millions from the cents only; you have to climb the ladder slowly.
This is something that depends entirely on the trader. If you start off with larger lot sizes, there are chances you will face few losses. It’s actually exactly the way trading works. Once you’re comfortable trying with smaller lots, you can easily start trading with bigger sizes. It’s always safe to keep a small account functioning with a flexible trade size broker since you can use it in the future for testing once you’ve hit a rough patch.
I would rather suggest trading with a micro lot account broker like FP Markets or any other because using a micro lot is similar to using a nano lot, but the profit earned in a nano lot is very low, whereas the micro lot profit is a bit decent and it has the same lower capital and risk involved as the micro lot.
I agree with Logan15; There is not much difference in nano and micro-lots other than the profit. It is a better choice to trade with brokers like FP Markets or any other micro lot size brokers because the capital involved is lower, and profit gained is higher than nano lot.
Most of the brokers that I know offer micro lot size only. And to be frank, I think there is not much difference between micro and nano lot size, even if you are a beginner yourself. Many brokers like turnkey forex, fxchoice, etc offer micro lots, so you can try them out.
I won’t suggest trading nano lots because they don’t do anything more than taking your time and giving you nothing in return. You will be better off with micro lots.
Frankly, I have never heard of a reliable broker that offers nano lots for trading. At the same time most renowned brokers do offer micro lots which are far safer than profitable. It helps you hone your trading skills with low risk.