Trading on cent accounts
As you know, forex trading offers not only standard accounts but also cent accounts, whose
currency is the cent, a unit 100 times smaller than the standard unit of measurement.
Furthermore, trading is conducted using micro lots, meaning you open a trade of 1 lot as usual, but in reality, it's only 1,000 units of currency, not 100,000.
This approach allows you to open trades with just a few dozen dollars in your balance.
Of course, trading on cent accounts has its own unique characteristics; there are even entire strategies that can yield a decent profit.
Half of traders use mini accounts simply because they lack the funds to trade on a standard account. The minimum trade size is limited to 0.1 lots or $10,000.
Trading on cent accounts involves making a profit through the use of leverage and high trend speed.
Therefore from the list cent brokers Choose a company that offers high leverage, but no more than 1:400.
After we move on to choosing a trading instrument, we immediately discard currency pairs that are flat and select only instruments with a dynamic trend.
As a result, there is a chance to make money even with $50.
For example, a $30 deposit, 1:400 leverage, and a trade volume of 12 micro lots yields $1.20 per pip. The selected currency pair moves 50 pips per session, meaning you could earn $60 in one trading day.
When trading on cent accounts, it is still not advisable to use scalpingBecause the spread on them is several times larger than on standard accounts with the same broker.
Moreover, 12 micro lots are equal to 0.12 lots, and such volumes are already available on a standard account, but only with more favorable trading conditions.
Read about the strategy for trading on cent accounts here - http://time-forex.com/strategy/strategiya-dlya-tsentovogo-scheta
