FBS Cent Account Review
In this FBS cent account review, we will not only give information about FBS cent account, but also why it constitutes the best approach to start your career as a forex trader.
Fbs cents account is offered to all traders and allows all styles of trading. Therefore, it is perfectly suitable for new traders.
Why FBS Cent Account?
What characterizes a cent account is that it is a real account, but its currency is cent. Therefore, your contract size will be smaller by 100.
Example: 1 regular lot size is 100k USD. And 1 Cent lot size is 100k Cent = 1000 USD.
Cent account constitutes a very good opportunity for new traders to trade in the real market conditions. Cent account offers real volatility, real quotes, real loss, and real profit. Therefore, if you trade well on the cent account, you will probably do the same on other account types.
With a cent account, you don’t need to lose money to learn forex, you can just open an account with as little as $1 with FBS; which is 100 cents.
If you deposit $10, your balance becomes 1000 cents. You can then open as much order as you like. Your balance will appear as if you trade with $1000 and the benefices and losses will show the real results.
The best part of this is that it’s a real account and you can withdraw your money whenever you want. However, if you lose, it is just $10.
This low studying cost seems fairly acceptable if you want to learn trading. However, some brokers often set limits concerning Cent account. Some prohibit hedging, others limit the deposit amount… Therefore, it is scarce to find a broker that allows all trading styles and offers competitive conditions.
According to our tests, FBS doesn’t make restrictions concerning Cent Account
FBS Cent Account Review
FBS offers real trading conditions for new traders to learn forex. Therefore, the only thing you need to have is a willingness to develop a strong trading strategy.
The minimum deposit to open an FBS Cent Account is $1. The floating spread start from 1 pips. In addition, FBS doesn’t charge you any commission.
The leverage for the account can reach up to 1:1000 and you can open up to 200 orders at once. these highly competitive conditions make trading easy especially for traders who use expert advisors.
Finally, the order volume can start from 0,01 to 1000 cent lots (with step 0,01) Market Execution.
Why Cent Account is best for EA trading?
Using an expert advisor for $500 will just blow up your account. However, if this amount was multiplied by 100, it will turn the game upside down. With a balance of 50,000 cents, a good expert advisor cannot blow up your account unless you use a high-risk strategy.
The lots opened by EA will be in cents and accordingly, the risk will be very low in comparison to a standard account. For Example, when the EA opens an order with 0.01 cents lot, its real value will be 0.01 x 0.01 = 0.0001 standard lot size.
Therefore, you only risk 0.0001 dollars per pip movement. The dark side of this trading method is that the gains are just as small as losses. However, due to the risky nature of the forex market, this method works well a generates profits over the long run.
Shortcomings of trading cent account
In Fact, you will never become a successful trader without first having lost 1 dollar in a real trade. The realistic environment of live trading can teach you how to deal with losses, what your trading style is and, most importantly, what your limits are.
By risking real money, you learn about your emotional responses and how they affect your trading decisions. This way you can learn about your weak spots and try to improve on them over time.
In fact, Cent account will help you build your trading disciplines and test your emotions. However, the truth is that you lack the real sense of risk. By investing only 1 to 10 dollars won’t give you deep insights about your feelings when making big investment. Therefore, you should be aware of the fact that nothing can replace the real experience of making your money involved in trading.
Nonetheless, a good trader always take precautions and try to avoid risk as possible as they can. Therefore, trying a cent account, at first, can save you from beginner’s mistakes.
The last thing to add in this FBS Cent Account Review is that nothing is perfect. Though cent account is perfect for beginners to start with, you cannot use it forever. Any trader wants to develop their strategies and make serious benefice. This goal won’t be achieved via Cent account.