A Forex cent account is a type of Forex (Foreign Exchange) trading account where the monetary values are denominated in cents rather than the main currency unit (like dollars or euros). 1 dollar is represented and shown as 100 cents.

This means that when a trader deposits money into their account, the value is multiplied by 100 and displayed as cents. For instance, if a trader deposits $10, it will be shown as 1,000 cents in their trading account.

The whole point of a Cent account is to show the balance and amounts used in trading as if they were dollars, to increase the similarity.

In fact, Cent accounts cater specifically to beginners or those looking to practice trading strategies in a real-world environment with minimal risk.

The key advantage of a cent account is that it allows traders to engage in real-money trading with very low volumes, with the trade-off of charging higher fees compared to other account types.

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How much is a pip worth in a Cent account?

In a Cent account, the smallest monetary value a pip can have is $0.001, or 0.1 cent. Indeed, in a Cent account, the minimum lot size you can select is 0.01 lot, but given the nature of the account the pip value will correspond not to a micro lot (10 cents) but to a nano lot, so 0.0001 lots (0.1 cent), or 10 units of the base currency.

To illustrate, if a trader opens an order with 1 nano lot in a Cent account and closes the order with a 40 pip profit, their earnings would be $0.04, or 4 cents.

What are the differences between Cent and the other Forex account types?

Cent accounts differ from other account types by representing the account’s equity, commissions, and costs in cents, rather than the full currency unit.

In other words, if a trader deposits $10 into a Cent account, this amount is represented as 1,000 cents.

Moreover, Cent accounts are widely recognized for their accessibility. They have a very low entry barrier, often requiring minimal initial deposits.

Another notable aspect of Cent accounts that many forex brokers incorporate, compared to other forex trading account types, is the automatic upgrade of the account itself: once a trader’s account equity reaches a certain level, the account is automatically converted into a standard account.

Features Cent Nano Standard Mini-Micro
Minimum Deposit Below $10 Below $10 $200 Below $100
Contract size Nano lots Nano lots Standard lots Micro lots
Average spread 2 pips 2 pips 0.7 pips 1 pip
Asset Availability Limited Limited Wide range Limited

Forex Cent account vs Standard account

Compared to Cent Accounts, Standard accounts are aimed to the average forex trader. This account type charges lower fees, at the expense of a higher overall risk since it requires higher capital to run.

However, just like other account types, the Standard account does not display the account equity in cents.

Forex Cent account vs Mini-micro account

Forex Cent accounts and Mini-micro accounts share some similarities, particularly in terms of the low minimum deposit requirements.

When it comes to the differences, the cent account is less commonly available compared to the Mini-micro account and tends to be less flexible in terms of the range of tradable assets they offer.

Forex Cent account vs Nano account

Forex Cent and Nano accounts are similar in offering low minimum deposits and limited asset ranges, catering to traders with less capital or beginners.

The key distinction lies in their value representation, as a Cent accounts display all account metrics in cents, whereas a Nano account uses standard currency units.

How does a Forex Cent account work?

A Forex Cent account works by denominating account balances and transactions in cents instead of standard currency units, and allowing traders to open trades with nano lots.

For instance, imagine a trader who opts to deposit $50 into a Forex Cent account. In this account, the deposited amount would be represented as 5,000 cents.

The same goes with trading, since if the trader opens a 10 Cent lot order with a 1:10 leverage, it means that he will be required to have a $10 margin in a normal forex account. However, the cent account will display a 1000 cents requirement.

How does lot size work in a Forex Cent account?

In Forex cent accounts, the smallest trade you can make is 0.01 micro lots, also known as 1 nano lot. This size equates to just 0.0001 of a standard lot.

In fact, in forex cent accounts the value of a cent lot is distinctively different compared to standard forex accounts. A single cent lot in these accounts represents 1,000 units of currency, in contrast to the 100,000 units represented in other types of forex accounts.

Therefore, when you choose a trade volume of 0.01 lots in a cent account – the smallest trade size available – you are actually trading 0.01 cent lots.

So, since 1 cent lot is worth 1000 currency units, 0.01 cent lots are equivalent to 10 currency units, or 1 nano lot.

How does leverage work in a Forex Cent account?

Forex Cent account leverage operates in the same fundamental manner as leverage in other types of Forex accounts.

The only distinction for Cent accounts often lies in the level of leverage offered. Generally, these accounts tend to have higher leverage compared to standard accounts, but only where regulations and trading conditions allow it.

Are margin requirements different in a Forex Cent account?

The margin requirements for Cent accounts work the same way as other forex trading accounts, however, the monetary margin is lower.

For instance, while a standard account may necessitate a $1,000 margin for trading a standard lot, a cent account often requires just a $10 margin for a Cent lot trade (or 1000 cents).

However, assuming a 1:30 leverage for both types of forex accounts, each would need a 3.33% margin to initiate trades. This translates to $33 for the standard account (3,33% of $1000) and $0.33 for the cent account (3,33% of $10).

How do spread and commissions work with a Forex Cent account?

Forex cent accounts charge higher fees compared to standard accounts and other account types.

This increase in fees is essentially a trade-off for the privilege of trading in substantially smaller lot sizes, which cent accounts offer. Typically, the spreads in cent accounts are often above 1 pip, in contrast to other account types where spreads are usually below this threshold.

Apart from the spread, cent accounts may also incur additional common trading fees, including overnight fees for holding positions open over a period of time, and currency conversion fees, which are relevant when trading pairs involving different currencies.

Of course, Cent account fees and commissions are calculated in cents. This doesn’t change how fees are charged, but rather how they are displayed.

Are cent accounts good for beginner Forex traders?

Cent account are a perfect balance between demo accounts and standard accounts, offering an ideal starting point for beginner Forex traders.

Cent accounts hold 5 main advantages for beginners:

  1. Low Minimum Deposit: One of the main appeals of Cent accounts is the low minimum deposit requirement. This feature allows beginners to trade with real money without the daunting risk of significant capital loss, easing them into the dynamics of actual trading.
  2. Small Lot Sizes: In contrast to standard accounts that generally require around $200 for effective operation, Cent accounts can work efficiently with far smaller amounts. This is thanks to the Cent lot sizes they employ, making it easier and more accessible for beginners to commence trading.
  3. Learning Opportunity: Cent accounts are a valuable tool for beginners to learn Forex trading. They demand a lower financial commitment than larger accounts, providing a realistic yet safer environment for acquiring practical trading skills.
  4. Psychological Training: When the financial values are represented in cents, it creates a perception of dealing with larger sums of money. For example, a deposit of $10, which is represented as 1,000 cents in such an account, can create the illusion of managing $1,000. This aspect of Cent accounts can be a beneficial tool for psychological training.
  5. Gradual Transition: Cent accounts are an excellent intermediary for beginners, bridging the gap between simulated trading with virtual funds and actual trading in real market conditions. This step-by-step progression is crucial in building both confidence and experience in the Forex market.

This is why Forex brokers that offer Cent accounts are usually featured among the best Forex brokers for beginners.

What are pros and cons of a Cent Forex account?


  • Low Minimum Deposit required
  • Can work with very small lot sizes
  • Beginners can use it as a low-budget learning Opportunity
  • Can help developing trading psychology
  • Makes demo-to-real account transition easier


  • They charge high fees compared to other accounts
  • Limited amount of tradable assets
  • Lower profit potential
  • May not be suitable for experienced traders
  • It’s a rare account type to find

What are the best Cent account Forex brokers?

The best cent account forex brokers are FBS,  FXTM and RoboForex

All these forex brokers offer cent accounts with lower spreads compared to the competition, and a wider range of assets. Additionally, they allow to open a demo account to try them firsthand.

Do all Forex brokers offer Cent accounts?

No, not all Forex brokers offer Cent accounts.

Cent accounts are relatively rare in the industry primarily because they are less profitable for brokers, due to low user deposits and low trading volumes resulting in minimal spread gains. Additionally, Cent accounts necessitate a dedicated infrastructure, leading to increased management costs. Many major Forex brokers focus on traders with higher budgets and consequently do not offer this type of account.

To compensate for these factors, Cent accounts often come with higher fees and a limited range of tradable assets.

Consequently, brokers frequently opt to provide similar but distinct account types, such as mini or micro accounts, instead of Cent accounts.

What Forex trading platforms can I use with Cent accounts?

The forex trading platforms that usually support Cent accounts are predominantly MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with proprietary trading platforms.

How to open a Forex Cent account?

Opening a Forex Cent account typically involves the following steps:

  1. Choose a cent forex broker: Start by choosing a broker that offers Cent accounts and caters to your specific trading requirements. It’s important to select a broker whose features align with your trading strategy and goals.
  2. Register an account: To register, you’ll need to provide the broker with basic personal information, such as your email address and a username. In some cases, the broker might also request additional contact details, like a phone number.
  3. Verify your identity: As part of the account setup, every Forex broker requires you to undergo a verification process, commonly known as Know Your Customer (KYC). This involves submitting certain documents to confirm your identity, such as a government-issued ID and proof of address (e.g., a utility bill or bank statement). Additional verification documents may also be requested.
  4. Fund your cent account: The initial deposit into your Cent account should meet or exceed the broker’s specified minimum deposit requirement for such accounts. This step is essential to activate your account for trading.
  5. Setup the trading platform: select the trading platform you prefer from the options compatible with the Cent account. Most of the time the only choice you will have is the broker’s proprietary platform. Sometimes, brokers make available other platforms like MT4 or MT5.

What are the requirements for a Forex Cent account?

Opening a forex cent account involves fulfilling three essential criteria, similar to other types of trading accounts:

  • Minimum Deposit: Generally, a minimum deposit of $10 is required for these accounts, but this amount can vary depending on the brokerage you select. This means you must deposit at least $10 to commence trading with a cent account.
  • Age requirement: These trading accounts are not accessible to individuals who are underage. You need to be 18 years or older to open an account. Registration attempts by those under 18 will be rejected during the process of identity verification.
  • Identity Verification: To align with global regulatory standards, you must provide your forex broker with valid identification, like a passport, and proof of your residential address, such as a utility bill or a bank statement. This step is vital for forex brokers to maintain compliance with international rules.

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About The Author

Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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