Switch to a cent account.

If you have successfully mastered all the technical aspects of trading on a demo account, it’s time to move on to working with real money. You shouldn’t spend too much time on the demo, this can only harm the formation of your understanding of the Forex market.

Working on a real account will help develop a sense of the market, teach you how to manage your own emotions and not succumb to psychological pressure.

It is clear that you should not immediately start your trading career with multimillion-dollar transactions; such experiments in most cases end in failure; a cent account was specially invented for beginners.

The opportunity to work on a cent account is provided by so-called cent brokers , although recently reputable brokerage companies have acquired a similar testing ground.

A cent account is trading with real money, but here everything is reduced a hundred times, that is, 1 lot is no longer equal to 100,000 units, but only 1000. The deposit is also calculated not in whole units, but in cents.

The advantages of this approach are obvious: using only $10 and a leverage of 1:100, you are already able to open a deal with a volume of 1 micro lot.

In addition, trading on a cent account is a good opportunity to check how stable your broker’s terminal is and how quickly sent orders are executed.

Despite the small amounts, usually trading on micro accounts with deposits from 10 to 100 dollars, you will already start earning money and get an idea of ​​how important the psychological factor is when trading Forex.

Beginners often ask: is it possible to make money on a cent account?

Yes, you can if you use high leverage and trade using scalping , but then the very point of using this type of account is lost. After all, if your trading volumes are more than 10,000 thousand, it is better to use a standard account with more favorable trading conditions.