What is Cent Account in Forex?
Cent account in Forex is a trading account provided by Cent Account Forex Broker that measure balance in cents instead of dollars. Trading for beginners with Cent Account Type is easier, so it is widely used, as well as for the traders who practice or test the particular trading strategy on real trading without big investments.
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.
- Forex Brokers who offer Cent account feature enables 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.
|💰 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)|
Best Cent Account Forex Brokers
Here is a selection of Top Brokers with Cent Accounts selected best in category and are reputable brokers with good regulation.
- BDSwiss – Best Overall Forex Broker 2022
- BlackBull Markets – Lowest Spread Forex Broker 2022
- FP Markets – Best Forex Broker for Beginners 2022
- Pepperstone – Best MT5 Forex Broker 2022
- HFM – Best MT4 Forex Broker 2022
Who are Best Forex Cent Broker?
Best Forex Cent brokers are with Cent accounts proposal not widely available among the market offering, most are now based offshore. However, the crucial point of the broker’s regulatory status remains at priority
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 Account as a separated offering, however you may find cent trading
inbuilt in Standard account, check Pepperstone or OANDA.