one of my friends which is IB of Fxpulp trades on Fxpulp with managed account on multi terminal.
two days ago He opened 10 lot position on Silver(XAG/USD) by mistake on 4 accounts (He wanted to open 1 lot trade on Silver) equity for these account was low as they shouldnt be permitted to open this position and opening this position is impossible!
How can this happen? is it ok opening 10lot on Silver(XAG/USD) by these properties?
this is Silver trading specification on their website:
For micro account, it is possible to open 10.0 (and more, especially on over usd3k account) lot size trades as the value per 10.0 lot size is only usd1.00
However, lot size value for metals is a bit different from currencies, and for this it need to be checked out by the broker.
Placing 10.0 lot size trades instead of 1.0 lot size; yah? Hmmm, this confirms that I am not the only one doing that.
I used Multi terminal for 4 managed accounts,there is something weird because I opened this position for all of these accounts,and all of them has equity close.
For Account 21908 equity was 3638.74$ and for Account 21677 equity was 3757.3$ before opening this position.this position opened for 21908 but for 21677 it says:
" order buy 10.00 XAGUSDi opening at 0.0000 sl: 0.0000 tp: 0.0000 failed [Not enough money]"
its so weird because equity of 21677 was more than 21908!
I showed this to Fxpulp but they say 21677 has 1:100 leverage but 21908 has 1:300 leverage. what do you think about it?