If you’re new to forex trading, a cent account can be a great way to get started. A cent account is a special type of account that allows you to trade in smaller increments, making it ideal for beginners. There are many brokers that offer cent accounts, but not all of them are created equal. To help you find the best cent account broker for your needs, we’ve compiled a list of the top brokers.
Broker | Features | Review | Visit |
* CMA regulated * 1:1000 leverage * 1200+ instruments * $50 min. deposit | |||
* CMA regulated * 1:500 leverage * 1000+ instruments * $200 min. deposit | |||
* 1:500 leverage * 800+ instruments * $ min. deposit * African broker | |||
* 1:500 leverage * 80+ instruments * $200 min. deposit * Excellent support | |||
*1:500 leverage | |||
* Cryptotrading * Great accounts | |||
* 1:500 leverage * 300+ instruments * $50 min. deposit * Great support | |||
* 1:1000 leverage * 130+ instruments * $5 min deposit * Raw spreads | |||
* 1:1000 leverage * 200+ instruments * $1 min. deposit * Copy trading |
What Is A Cent Account?
Cent accounts are live trading accounts. They allow traders to trade with a balance measured in cents instead of the US dollars. They are handled the same way as any US dollar account with the only difference being the nominal amounts.
A cent account can be opened with any broker below and they are usually offered by brokers who offer leveraged trading. The main difference between a cent account and other types of forex accounts is that it offers traders more leverage than other types of accounts.
Why Trade With Cent Accounts?
This account type is perfect for those who are new to forex trading and want to learn the ropes before diving in headfirst.
- Small Budgets – Cent accounts are great for beginner traders. This is because they enable you to start trading forex with a smaller budget and a smaller minimum deposit. They also allow you to make smaller, less risky forex trades.
- Better Training – Cent accounts offer a kind of a transitional stage between demo and live accounts. These types of accounts make it easier for new forex traders to get used to operating in a live trading environment.
- Better Testing – Cent accounts are also great for more advanced forex traders. This is because they allow you to test new trading strategies or learn how use new trading tools in a less risky trading environment.
How To Choose The Best Cent Account
- Small Minimum Deposits – One of the main perks of trading with cent accounts is quick market access. To keep things simple, try to find fore brokers that offer a low minimum deposit accounts and a good choice of payment options.
- Low Trading Costs – One of the other advantages of forex trading with cent accounts is that it requires less starting capital. To help keep your costs low, try to find forex brokers that offer good trading conditions, high leverage, and tight spreads.
- Secure Trading Environments – One of the main priorities for all new forex traders should be finding a regulated forex broker. To help keep your funds safe, try to find a forex broker that ensures you have a good level of client fund protection.