Looking for the top forex cent account? After testing 80 brokers this year, our experts have identified the 2 best options tailored to diverse trading needs, complete with practical tips.
Not many brokers offer Cent accounts, even though they have their value. A Cent account features much smaller contracts than regular accounts (10,000 units vs 100,000 units), meaning a trader’s profits and losses rarely exceed several cents.
Cent accounts are a great fit for algo traders because they allow them to test their systems and identify areas for improvement. Cent accounts also suit beginners who want to make the leap from demo trading to the real deal while keeping their trading risks to a minimum.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology.
RoboForex has the most comprehensive and well-developed Cent account of all. It features 28 currency pairs, metals, and cryptocurrencies, which sit above other brokers’ tradable instruments offerings. RoboForex’s range of platforms is another highlight. It includes the broker’s flagship R WebTrader alongside popular names, like MT4 and MT5.
Key Cent Account Features:
I opened my RoboForex Cent account and used it with the broker’s own R WebTrader. I found the platform light and easy to exploit. Its working panel is not as cluttered as with most other retail stations, but it’s just as versatile. The R WebTrader supports market, limit, and stop orders, and comes equipped with more than 70 analytical tools and chart configurations.
Cent traders with RoboForex can also benefit from the broker’s competitive prices. From my hands-on testing, I learned that RoboForex averages a 1.3-pip spread on EURUSD and a 2.3-pip spread on GBPJPY. This is generally low for a Cent account.
RoboForex is a great fit for beginners thanks to its rich assortment of educational materials. They can use them along with RoboForex’s Cent account, which bridges the gap between practice trading and real-stakes trading. Last but not least, RoboForex provides free VPS to algo traders who can use it to power up their strategies running on the Cent account.
Exness breaks the mold of conventional brokers by offering unlimited retail leverage. It leaves it entirely to the trader to decide how much market exposure to take with each trade, and its Cent account is there to prepare traders for the realities of high-leverage trading. The other leg up of Exness on competing brokers is its proprietary platform – the Exness Terminal.
Key Cent Account Features:
The Exness Terminal is one of the premier trading platforms in terms of charting capabilities. Price action is fluid and easily scalable, represented on beautiful, wide charts. I also really enjoyed its smooth design and found it suitable for even first-time traders.
I used the trading station to place a long EURUSD market order and a short XAUUSD limit order, and found it fast and easy. Cent traders would also appreciate the integrated Trading Central content. They can replicate the actionable trading signals by the provider with just a few clicks.
The other major advantage of Exness is the broker’s free VPS hosting. Algo traders and scalpers can use it on their Cent accounts to achieve low latency and stable internet connectivity.
The team of forex and CFD writers and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.