Opening a cent account for Forex, brokers and trading features

Almost every new trader, before starting to trade large volumes, prefers to open a cent account on Forex or the stock exchange.

A cent account on Forex provides an excellent opportunity to try your hand at real trading, because trading on it is no different from working with larger amounts, the same quotes and order execution options.

In addition, the trader is given the opportunity to fully feel all the pressure of the market, especially if his account is not limited to just a few dollars.

This option is also often used to test the operation of trading robots, since the results of testing on demo accounts may not always be objective.

It's important to note that the deposit amount must be sufficient to open minimum-volume trades. Although a cent Forex account can be opened with as little as $1, you'll need at least $30-50 in your balance to be able to trade effectively.

How to open a cent account for forex trading?

You can open a cent account for forex trading only if your chosen broker offers this service. You can find a list of the most attractive options on the " Cent Brokers " page.

If your broker doesn't offer this service, register, verify your documents, and proceed directly to opening an account.

The opening itself occurs in the trader's personal account on the account tab:

The entire process usually takes no more than a couple of minutes, after which we top up our account with the required amount and proceed directly to trading.

The main difference between these accounts is the ability to trade micro lots, which are 100 times smaller than standard ones.

For example, while the minimum trade volume for a standard account is limited to 0.1 lots or $10,000, on cent accounts this amount is only 0.001 or $100.

Clearly, this option opens up fantastic opportunities for testing strategies, finding patterns, and simply making money.

This last line may surprise some, but it's true: you can still make good money on mini accounts, even with just $50-$100. Profits are achieved both through the use of high leverage and through a large number of trades.

However, it should be noted that most traders, once their deposit reaches a decent size, tend to switch to standard or VIP accounts.

Besides cent accounts, there are also simple mini lots on Forex; brokers slightly lower the minimum trade volume restrictions while leaving all other parameters unchanged.

In these cases, the minimum lot size will be $0.01 or $1,000. A list of brokers and trading conditions is available on the " Forex Dealing Center Ratings " page.