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 should be noted that the amount on deposit must be sufficient to open transactions of a minimum volume. Despite the fact that you can open a cent Forex account with literally 1 dollar, you can actually trade if you have at least 30-50 US dollars on your balance.

How to open a cent account for Forex trading?

You can open a cent account for Forex trading only if the selected broker provides such a service. You will find a list of the most attractive options on the “ Cent Brokers ” page.

If your broker does not have a free service, we go through registration, confirm documents and proceed directly to opening an account.

The opening itself takes place in the trader’s personal account on the account tab:

Usually the whole process takes no more than a couple of minutes, then we replenish the deposit with the required amount and proceed directly to trading.

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

For example, if when opening a standard account the minimum volume of transactions is limited to 0.1 lot or $10,000, then on cent accounts this amount is already only 0.001 or $100.

It is clear that this option opens up fantastic opportunities for testing strategies, searching for patterns, and simply making money.

Some will be surprised by the last line, but this is a fact; you can also make good money on mini accounts, even with only 50-100 dollars at your disposal.

Profit is achieved both through the use of high leverage and through a large number of transactions. However, it should be noted that most traders, as soon as the deposit reaches a decent size, try to switch to using standard or VIP accounts.

In addition to cent accounts on Forex, there are also simple mini lots; brokers slightly reduce the restrictions on the minimum transaction volumes, while leaving all other parameters unchanged.

In these cases, the minimum lot will already be 0.01 or 1000 dollars. The list of brokers, as well as trading conditions, is presented on the page “ Rating of Forex dealing centers ”.