Here you can find the list of Forex brokers that offer cent accounts to their traders. Most of these brokers provide MetaTrader 4 or MetaTrader 5 platform and use the accounts denominated in USD or EUR cents to circumvent the trading platform’s natural limit on order volume.
In cent forex accounts all deposits, profit and loss are measured in cents, instead of dollars. Say that you deposit $10 into your cent account. Then what will be displayed as a balance will be 10,00, because that’s the amount in cents. Note that even a small deposit looks quite large now. Different dealing centers may have different minimum trading lots. 0.1 is 10,000 cents, and each point of EUR/USD is worth one cent. In one 0.01 lot each cent is equal to the EUR/USD passage rate of 10 points.
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Use Cent Forex Brokers in Trading
If you think you have got everything you need to know about Forex, you might need to discover more. There are still more that you might miss in Forex trading. One of those things is the cent account. This kind of account can be used in Forex trading. There are some Cent Forex Brokers that you can find out there. You may consider this information as your reference. It doesn’t give you the advice about a certain thing. Instead, it will give you another option of account that you can use in a trading like in Forex. Before you are sure to pick this account or another type of account, the following details about cent account will be very helpful.
More Useful Description about Cent Account
This kind of account is provided by some brokers out there. You can easily find those brokers with this features. This is because this kind of account comes with a certain feature that may give you benefit. One of those benefits that you might get from this kind of account is that your deposit will be measured in cents with this account. This is the measurement that will be quite different from the common account that will use US dollars. There is no significant different except on its differences in the operated sum.
There are advantages and disadvantages of this account that you will find. For instance, it comes with a benefit to allowing trading with a real deposit. This one is the advantage that you can take from this kind of account. On the other hand, this account comes from those brokers that will offer you with a service that limits the maximum account and also the position size in which it needs to keep the usage down to a minimum. After you have got those details above, it is time to decide whether or not you will have this option for your account in Forex trading.