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Latest Reviews
Evgeniy Shestakov
I started trading with them with a minimum amount. They assigned me a manager who helped me with trading. My stock has already doubled in one day. The mentor began to say that I could earn even more, but I needed to increase the amount on deposit. I wanted to try to get the part out first, and told my mentor about it. After that I was unable to log into my account.
Read moreArthur
I tried to trade here. Nothing worked out; for some reason, promising deals went into the red as soon as we tried to close them. The terminal could ignore orders for several minutes until the price of the asset changed for the worse.
Read moreArthur
I really didn’t like that they called me several times a day after I registered my account. I didn’t even have time to top up the deposit when calls started coming in asking me to deposit as much money as possible and invest it all in an incredibly profitable deal. Such recommendations contradict any rules of money management. And that's why I refused to work with them. And then for another two weeks I blocked the left numbers from which they called.
Read moreMax
I met on VK girl from somewhere in the EU and corresponded with her for a couple of weeks and evenby videocommunicated. And then she started asking about my work and said that she herself is engaged in trading and lives well on the income from it and offered to introduce me to a person who has a good broker. Like a fool, I agreed and gave my contacts, and within a day they called me and started telling me tales about huge incomes and pointing out some graphs and reports. A day later I transferred money to the account to scrape $300 according to mystockpiles and tried it at the merchant. My trading almost immediately went negative. I realized that it was not mine and wanted to withdraw the money, but I was thrown out of my personal account and was not allowed back.
Read moreEgor
Rakuten Trade clearly does not look like a normal broker. Too many jambs. It is very difficult to open an account with him; it is impossible to trade normally. Any transaction becomes unprofitable due to direct and hidden commissions.
Read moreMatvey
I fell for the promises of the bitprojectinvests manager like a horse. And now I can’t even withdraw my money.
Read moreHow Cent Account Brokers Help Traders Make Money – Top Candidates for Trading
Cent account brokers offer the opportunity for traders to enter positions with modest sums. The volume of a lot is 100 times smaller than the regular standard. In this case, one cent is equal to one dollar. The lot size is 1000 instead of 100,000 currency units. Traders can enter the market with 0.1 lots or 0.01 lots.
$10 turns into 1000 cents, which can be used to open small positions.
Cent account brokers are especially appealing to:
- Novices who lack confidence. They are cautious about risking large sums, so they work with small deposits and cent-sized volumes.
- Beginners with limited experience. A cent account is an excellent opportunity to practice before transitioning to trading larger amounts. Novices can gain real market experience and understanding, unlike demo trading.
- Professionals. Cent account brokers are suitable for familiarizing themselves with new financial instruments under real market conditions. It’s also useful for testing new strategies, as it’s better to lose $10 than a hundred.
Traders who are exploring a new broker often start with cent accounts to assess the broker’s performance and minimize risks.
Top Cent Account Brokers
The term “brokers” may not be entirely appropriate when referring to cent account providers. Those who offer cent accounts are better known as dealers. They process client positions solely within their own capital or opposing positions from other traders.
Executing trades in the interbank market is not free. Expenses such as interbank connectivity, equipment, software, and specialists’ salaries need to be covered. These costs are incorporated into spreads or commissions, which are often fixed. It’s important to understand that it’s not beneficial for anyone to execute small (cent-sized) trades on the interbank market, neither for the broker nor the trader. This is why dealers exist. They allow trading with small deposits without exorbitant fees.
Our rating of forex brokers with cent accounts includes well-established intermediaries. Have you found a candidate? Check where they rank in our top list. Learn what other traders think about them and how their trading experience concludes.
Our cent account broker rating is updated daily on our website. This helps you stay up to date and understand which providers are suitable for cent trading and which are not worth considering.
Please note: the rating includes only foreign companies. In the Russian Federation, forex brokers with cent accounts are not registered or licensed. They are only available abroad.
Choosing a Cent Account Broker: What to Consider
While cent accounts reduce risks and losses, it doesn’t guarantee that a broker won’t deceive you. Many brokers offer the chance to transition to a real trading account from a cent account.
Thanks to cent accounts, traders have the opportunity to refine strategies and gain experience. Afterward, they can continue trading with the same broker. However, the risk of losing during this transition phase increases. This emphasizes the importance of selecting a trustworthy broker.
What should you look for when choosing a cent account broker?
The broker must be reliable. How can you determine whether they are honest or fraudulent? Consider the following factors:
- Registration: The broker should be registered in a jurisdiction with strict regulations. But more importantly, they must be licensed – without a license, you should not engage with them.
- Age: The older the broker, the lower the risk of them being fraudulent.
- Reviews: It’s important to see recommendations from experienced traders. They understand how to evaluate brokers without basing their judgment on just one losing position.
Once you’re satisfied with their age, registration, and reviews, the next step is to assess the trading conditions. Pay attention to:
- Spreads: Are they too wide? Wide spreads can erode profits each time a position is closed.
- Commissions: Maximum $7 per standard lot.
- Leverage, margin calls, stop-outs, and swaps.
Opening a cent account with a reliable broker is facilitated by their instrument offering. If they don’t provide fiat and cryptocurrency pairs, CFDs on stocks, indices, commodities, metals, and energy commodities, you should look for another candidate.
