Cent Account Forex Brokers
- What is Cent Account in Forex?
- Best Cent Account Forex Brokers
- Who are Best Cent Brokers?
- What is Contract size Forex Cent Accounts?
- Cent Brokers List
What is Cent Account in Forex?
Cent account in Forex is a trading account that measures balance in cents instead of dollars. Cent accounts maintain the balance in the lowest fungible form of a currency allowing trade with much smaller lot sizes of a currency pair. A Cent Account is very similar to a regular Forex Account, in a sense, with the main difference in the nominal fund.
Cent accounts are very popular among novice traders who look for less risky ways to trade. More experienced traders also pay attention to this account type for trade testing purposes.
Usually, the minimum deposit is quite small for Cent Accounts and may require only 100$ or lower as a start, however within a low-risk trading environment consider the demanding minimum transaction volume. Read more about Cent Account via Wikipedia.
|💰 Spread||Spreads are higher compared to Standard accounts. Average EUR USD 1-2 pips|
|📉 Positions||Sell and Buy|
|🏦 Contract size||Micro Lot, Standard Lot (Depending on the broker)|
Cent Account Platform
Cent Account can be traded through any platform, so you need to check on the broker if it has Cent Account listed in its offerings since it’s the broker that has exposure to the market and provides the platforms. Also, have a look at what we find about Cent Accounts:
- Forex Brokers who offer Cent account feature enable Live trading without large fund requirements, as all calculations and measures will be shown by the cents.
- Cent accounts are handled in the same manner as a Standard account with the only difference of the nominal amount. As an example, once the trader deposit 10$, the displayed balance on the account will be 1,000 which presents trading funds through cents.
- The minimum volume for a trade is 0.01 cent lots and that’s 100 times smaller than 0.01 standard lots
|Cent Account Advandages||Cent Account Disadvantages|
|Less Risky Trading||Higher Quote Spreads|
|Great for Beginner Traders and Strategy Testers||Low Profits|
|Easy Account Opening Process||Limited Maximum Position and Account Size|
|Opportunity to Learn the Dynamics of Real Market and Build up Trading Skills||Not every Broker offer Cent Trading|
|No Specific Requirements for Deposit or Account Opening|
Top 5 Cent Account Forex Brokers
Here we came up with a selection of Top Brokers with Cent Accounts selected best in the category by our experts for their good reputation, trustworthiness, and quality offerings:
- HFM – Best Overall Cent Account Broker 2023
- FP Markets – Best Lowest Spread Cent Account Broker 2023
- BDSwiss– Best MT4 Cent Account Broker 20232
- FXChoice – Best for Beginners Cent Account Broker 2023
- FBS – Best Social Trading Cent Account Broker 2023
Who are Best Forex Cent Brokers?
Best Forex Cent brokers are with Cent accounts proposals not widely available among the market offering, most are now based offshore. However, the crucial point of the broker’s regulatory status remains a priority, check only regulated forex brokers like FXTM or XM.
What is Contract size Forex Cent Accounts?
The contract size may be Standard or Forex Micro lot depending on the Brokers offering, where all calculations are done in Cents instead of Dollars.
Which Forex Broker Offers Cent Trades Australia?
There aren’t Australia Brokers with Cent Accounts as a separate offering, however, you may find cent trading inbuilt into a Standard account, check FP Markets or OANDA.
What is lot size in cent account?
A lot is a unit of measurement used to denote the amount of currency units bought or sold in a transaction. A minimum trading volume for a Cent Account is 0.01 cent lot.
List Brokers with Cent Account
Here is our full list of Regulated Cent Account Brokers that we have proved as regulated brokers with the best offerings:
Min. Deposit: $5,000
Max. Leverage: 1:30 | 1:200
Trading Platforms: MT4, MT Pro
Regulation: FCA, CIMA
|ATC Brokers Review|
Min. Deposit: US$100
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, cTrader, Skilling Trader
Regulation: CySEC, FSA
Min. Deposit: $100
Max. Leverage: 1:30 | 1:500
Trading Platforms: OREX, MT4
Regulation: SCA, FCA, SFC
|ADS Securities Review|
Min. Deposit: $0
Max. Leverage: 1:1000
Trading Platforms: MT4. MT5, Social Trading
Regulation: FSC BVI, SECC
|GKFX Prime Review|
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