What is cent account trading

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Cent Account

As implied by the title, a Cent Account deals with (yes, you guessed it) cents. Deposit 5 dollars and your account will have a balance of 500 cents, deposit 10 dollars and they will be reflected as 1000 cents. There are no major differences in the structure of traditional accounts and cent accounts; the main element which distinguishes the two is that regardless of how much money you deposit, your balance will always appear in cents.

At ForexTime (FXTM) the Cent Account is available on Standard MT4 accounts and for those wishing to test it out first, we’ve developed a demo version of the account too.

Why Open a Cent Account?

  • With a minimum deposit of only USD 10, our Cent Account provides quick and easy access to the markets and live trading
  • Traders can test their Expert Advisors without spending large sums of money to do so
  • Cent accounts are ideal for newbies – they give a taste of forex trading with real funds and insight to the psychology behind the experience, with a much lower risk
  • The advantages of a Cent Account help create more windows of opportunity in a simpler trading environment

What’s the philosophy behind it? The Cent Account has been designed for small depositors and newcomers to the forex industry. It’s most suitable for those who wish to trade with a lower deposit and grants access to the markets to all those who want to trade but cannot risk losing too much. Furthermore, it acts as a smooth shift from demo accounts to real accounts as it gives traders the chance to become familiar with using a forex account before trading with large sums of money.

Account Specifications

Trading Platforms MetaTrader 4
Account Currency US Cent / EU Cent / GBP Pence
Leverage / Margin req. Leverage is set based on the trading instrument and limited with 1:30 max. Refer here for more info.
Maximum deposit
Minimum deposit $/€/£ 10 / ₦2 000 1
Commission
Order execution Instant Execution
Spread From 1.5 3
Margin Call 80%
Stop Out 50%
Swap-Free
Limit & Stop Levels 1 spread
Pricing 5 decimals for FX (3 on JPY pairs), Spot Metals: 2 decimals for XAUUSD and 3 decimals for XAGUSD
Trading Instruments Majors, Minors — 25 Spot Metals — 2
Minimum Volume in Lots per Trade 0.01
Micro Lot (0.01)
Mini Lot (0.1)
Standard Lot (1) 12
Step Lot 0.01
Maximum Volume in Lots per Trade 1 12
Maximum Number of Orders 300
Maximum Number of Pending Orders 100

Notes:

1 Leverage is offered based on your knowledge and experience. The Leverage / Margin requirements may be subject to change as a result of applicable regulations in your country of residence.

3 Spreads are floating and they may increase during specific periods of the day depending on the market conditions.

12 On Cent server 1 Lot size is 0.01 Standard Lots or 1,000 units. The maximum volume per trade on our Cent server is 100 Cent lots which is equal to 1 Standard lot or 100,000 units.

Trading Accounts Overview

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FXTM brand is authorized and regulated in various jurisdictions.

ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

ForexTime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

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Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Regional restrictions: FXTM brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, the Occupied Area of Cyprus. Find out more in the Regulations section of our FAQs.

Cent account

Perfectly suits those who are just starting on their way to success on Forex

Trading conditions

    Initial deposit $1 Spread Floating spread from 1 pip Commission $0 Leverage up to 1:1000 Maximum open positions and pending orders 200 Order volume from 0,01 to 1000 cent lots
    (with step 0,01) Market Execution from 0,3 sec, STP

Account types, except ECN account, support the following trading instruments: 35 currency pairs, 4 metals, 3 CFD, 33 stocks.

Also, all account types except ECN support swap-free trading.

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Other Accounts

  • Account comparsion
  • Cent account
  • Micro account
  • Standard account
  • Zero Spread account
  • ECN account

Trader tools

  • Trader’s calculator
  • Contract specifications
  • Cashback service

Financials

  • Open account
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The website is operated by FBS Markets Inc.; Registration No. 119717; FBS Markets Inc is regulated by IFSC, license IFSC/60/230/TS/19; Address: No.1 Orchid Garden Street, Belmopan, Belize, C.A.

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For cooperation, please contact us via [email protected] or +35 7251 23212.

Risk warning: Before you start trading, you should completely understand the risks involved with the currency market and trading on margin, and you should be aware of your level of experience.

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Cent Account Forex Brokers

In very simple words, Cent accounts are trading accounts which measure balance in cents instead of dollars. This specification is an attractive tool for beginning or those individuals that don’t want to risk large fund amounts while trading. That means, that Forex Brokers who offer Cent account feature enables engaging into the real trade without large fund requirement, as all calculations and measures will be shown by the cents.

  • Cent accounts are handled the same manner as a Standard account with the only difference of the nominal amount. As an example, once trader deposit 10$, the displayed balance on the account will be 1,000 which presents funds through cents.

The Cent Account type can is widely used by the beginner traders, as well traders that would like to practice or test the particular trading strategy or to see trading conditions of the real account. Yet, in a low-risk trading environment, the demanding minimum transaction volume should be considered strong and checked carefully at the Broker’s offering. Forex brokers featuring Cent accounts are not too many among the market offering, therefore the listing below can help to choose the company, which brings that opportunity to start trading trough Cents’. However, the crucial point of broker’s regulatory status remains the same, as the unscrupulous broker may easily fake trading condition and remain you with the loss, even that the balance was an initially small deposit.

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