At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.
In this article, we have grouped some of the best forex brokers that offer cent accounts.
We used several factors to choose the best brokers with cent accounts, including:
- The commissions on cent accounts
- The number of forex pairs available on cent accounts
- The trading platforms
- The overall quality of the forex broker
Table of Content
- FBS: best cent account overall
- FXTM: lowest cent account fees
- Roboforex: best cent account for crypto trading
- Instaforex: best cent account flexibility
- Fibo Group: wide range of tradable markets
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
- With the FBS cent account, assets from 0.1 nano lots can be traded.
- The minimum deposit to open the Cent account on FBS is $1, with the exception of European clients which is $10.
- FBS allows people to try Cent trading through a free demo account. The trial period expires after 90 days.
- On the Cent account FBS allows trading in about 60 instruments in total, including 35 forex pairs.
- The FBS Cent account supports trading on both MT4 and MT5, and spreads start at 1 pip.
74-89% of retail CFD accounts lose money
- FXTM offers a cent account to trade with nano lots.
- The minimum deposit for an FXTM cent account is $10, but a free unlimited demo account is also available to try it out.
- Spreads on the FXTM cent account start at 1.5 pips
- With FXTM you can trade over 25 forex pairs through the cent account.
81% of retail CFD accounts lose money
- Roboforex with its Pro-Cent account allows trading in over 35 forex pairs.
- The minimum deposit for a RoboForex Pro-Cent account is $10, and there is no demo account.
- RoboForex’s Pro-Cent account can be used with MT4 or MT5.
- The spread on the RoboForex Pro-Cent account starts at 1.3 pips.
- RoboForex allows trading not only forex pairs, but also 9 crypto-fiat currency pairs.
(74-89% of retail CFD accounts lose money)
- Instaforex offers great flexibility for traders who want to trade cent accounts.
- There are two Cent accounts to choose from on Instaforex: the Cent Standard account and the Cent Eurica account.
- The minimum deposit for cent accounts at Instaforex is $1.
- Cent accounts offered by Instaforex are available as demos.
- Spreads on the Instaforex Cent Standard account start at 1 pip, while on the Cent Eurica they charge a 0.03% commission on the transaction.
- On Instaforex, Cent accounts are opened through MT4.
55.29% of retail investor accounts lose money
5. Fibo Group
- FIBO Group offers a cent account for every trader.
- There is no demo account available to try FIBO Group’s cent account, however, the broker requires no minimum deposit to open one.
- FIBO Group allows trading on 38 forex pairs within cent accounts.
- FIBO Group’s cent accounts are offered on MT4.
66% of retail CFD accounts lose money
What is a cent account?
Cent accounts facilitate trading in the smallest denomination of currency through micro lot trading. These trades can typically be opened with as little as 0.1 nano lots. One of the other keys to the cent account is the fact that your account balance shows as cents, for example, a $10 deposit would appear as 1000 US cents in your trading account.
This low volume trading availability makes cent accounts some of the cheapest and lowest-risk account options for those traders who may be new to the industry. They are also highly accessible due to the low or no minimum deposits that are often involved.
If you are searching beyond cent accounts and wish to open a standard account type with a very low minimum deposit, you should also make sure to check out our listing of the best brokers with nano lot size.
Pros and Cons of Cent Accounts
As with all other forms of trading, trading through a cent account, even with one of the top forex brokers we have listed, comes with some positive points as well as a few potential drawbacks.
- Trading through cent accounts is very low-risk and often ideal for those starting out in the forex trading sector.
- You can benefit from some super-low or even no minimum deposits with top brokers on the majority of cent accounts.
- All of this is ideal for those with less experience in the industry who want to know and understand forex trading, but take fewer real money trading risks.
- While the real money trading risks are low, so too can be the reward from profits if you make the right trades in cent trading.
- Some of the assets that may normally be available through brokers may be somewhat restricted on a cent account. This is particularly true for European traders where the maximum allowed leverage is 30:1 through ESMA and ASIC regulation respectively.
About The Author