Trading on cent accounts
As you know, for Forex trading there are not only regular accounts, but also cent accounts, the
currency of which is a cent, a unit that is 100 times smaller than the standard measurement option.
In addition, trading is carried out using micro lots, that is, you open a transaction with a volume of 1 lot as usual, but in fact it is not 100,000, but only 1000 units of currency.
This approach allows you to open transactions with only a couple of tens of dollars on your balance.
It is clear that trading on cent accounts has its own characteristics; there are even entire strategies that allow you to get good profits.
Half of traders use mini accounts only because they simply do not have enough money to trade on a standard account. The minimum volume of transactions, which is limited to 0.1 lot 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 We choose a company that provides high leverage. But no more than 1:400.
Then we move on to choosing a trading instrument, immediately discard the currency pairs for which there is a flat, select only instruments with a dynamic trend.
As a result, there is a chance to make money even with 50 dollars.
For example, a deposit is 30 dollars, leverage is 1:400, the transaction volume is 12 micro lots, which gives 1.2 dollars per point. The selected currency pair moves 50 points per session, meaning you can earn $60 in 1 working day.
When trading on cent accounts, it is still not advisable to use pipsovku. Since the size of 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