Forex Time (FXTM
), an FX broker based in Cyprus, today delivered an exciting piece of news: it now offers its clients to open cent accounts.
As most of you know, cent accounts are such that the deposit (and all other money parameters) are measured in cents, instead of dollars. Let's illustrate this concept with an example:
Say that you deposit $100 into your cent account. Then what will be displayed as a balance will be 10,000, because that's the amount in cents. Note that even a small deposit looks quite large now.
I personally recommend cent accounts for traders who use capital-demanding strategies, such as the Martingale method: it's useful for them to first check how the strategy works with big amounts of money that actually are... not so big.
FXTM offers some very lucrative conditions for its cent accounts: let's start with the fact that there is no requirement for a minimum deposit and that you can trade with micro-lots (0.01 of the standard lots). At this point, the offer should have become quite attractive for newcomers to FX or to those that don't have substantial resources for trading. I almost forgot to mention that the maximum leverage is at whooping 1:1000
If you're interested in cent accounts from other brokers, I'd mention the FixCent account from RoboForex
, which comes with no requirement for a minimum deposit, zero commissions and instant execution. A popular choice are the cent NDD accounts by Forex4You
which require a minimum initial deposit of $1, the execution is rather fast and the trading is easy with micro lots. Choice is yours, fellow traders.
Led by Mr Andrey Dashin, founder of Alpari, ForexTime Ltd is committed to providing the tools and support to ensure maximum performance for traders. ForexTime Ltd will offer trading and other investment services in Forex, commodities, precious metals, shares, indices and other financial instruments.