Forex Brokers with Cent Accounts
Here, you will find those FX brokers that offer cent accounts to traders. In 99% of cases, such brokers provide MetaTrader platform and use the accounts denominated in USD or EUR cents to circumvent the trading platform's natural limit on order volume. MT4 does not allow a trade size less than 0.01 standard lot, which means that traders have to utilize the volumes of 1,000 units or more. Switching the account's currency from the US dollars (or euros) to cents, brokerage companies effectively decrease the minimum volume by a factor of one hundred — to 10 units. In other words, cent accounts offer an opportunity to trade with nano-lots and smaller position size via MetaTrader software. Of course, if you want to go below 10-unit volumes, you will have to consider non-MetaTrader micro-lot brokers. You will find 25 brokers listed in the table below.
Advantages of using the cent accounts are pretty obvious but here is the list of reasons to open such an account:
- You plan to deposit only a small amount to test the broker's work.
- You need a high level of accuracy when setting position size — especially important when trading with a large number of relatively small trades.
- You want to be able to open tiny positions and still use the power of MetaTrader platform.
- You want to test an expert advisor in a real account without changing its money management rules and without risking serious money.