Cyprus-based forex broker RoboForex
has made significant changes to the conditions of the CopyFX system it operates, the company announced earlier this week. The CopyFX system, which is available to both investors and traders, has stopped offering cent accounts
to traders. From now on, they will be able to use Standard and ECN accounts only. No changes have been introduced to the account usage of investors and they will be able to continue using both cent and standard accounts.
The change has come into effect as of November 3.
Cent trading accounts operate entirely in cents, unlike traditional accounts which use dollars. All financial parameters of investors’ cent account balance, including deposits, profits and losses, are measured in cents. Otherwise, these accounts are handled the same way a standard trading account would be. Cent accounts are good for beginner investors as they allow transactions with small amounts of money.
CopyFX, launched in 2013, is a social trading platform which enables traders to copy the transactions of successful fellow traders. The platform is available in at least 12 languages.