Do You Trade on Cent Account?

My recent post about the history of cent accounts has attracted some attention from this blog’s readers. It looks like despite their common disadvantages (higher spreads, poorer choice of instruments), cent accounts remain a popular draw for many traders. I would point out the following cases where cent trading may come handy:

  • Getting used to Forex trading for complete newbies.
  • Getting used to a new FX broker.
  • Testing some exotic strategies.
  • Precision trading with hundreds trades per day.

  • I, personally, have cent accounts opened at several brokers with little funds in them. From time to time, I use them when I need to make some out of the box deal that is too risky to carry out in my normal trading account. Additionally, those accounts provide a cheap access to some exotic currency pairs and CFDs available at their brokers. It is usually more cost-effective to keep the dormant accounts in cents rather than in the USD. Unfortunately, not many reputable brokers offer cent accounts; for example, no US-regulated brokerage offers them. And how about your experience with cent Forex accounts?

    Do you actively trade on a cent account?

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    If you want to share a detailed story of using some Forex cent account in trading, please feel free to speak your mind using the commentary form below.

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