This article expounds on the top 10 best forex brokers with cent accounts. These brokers usually make things easier for new forex traders who are just starting. But before we proceed to mention these forex brokers, I would like you to understand what cent accounts are in forex trading.
Forex brokers with cent accounts are accounts that carry out transactions in cents. Cent accounts are used by new traders when embarking on a live trading field or by traders who wish to test their tactics without large risks.
Cent accounts are notably designed for small depositors and newcomers to the Forex industry but can be used by all traders based on their trading needs and objectives.
Below are the lists of the top 10 best forex brokers with cent accounts.
List Of Top 10 Best Forex Brokers with Cent Accounts
Here are the 10 best forex brokers with cent accounts:
1. FP Markets:
FP Markets is an Australian CFD and forex broker founded in 2005. It is regulated by the Australian Securities and Investments Commission (ASIC), a global broker giving traders access to a full retinue of CFDs across FX, Cryptos, Equities, Commodities, and Futures.
Pros of FP Market:
- Low forex fees.
- Account opening and funding are easy and fast
- There are low forex fees.
Cons of FP Market:
- Imperfect research tools.
- The product lineup at FP Markets is limited to forex, cryptocurrencies, and CFDs (equities, indices, metals).
- Outdated web and desktop platform.
2. BDSwiss:
The BDSwiss broker is one of the forex brokers with a cent account appropriate for users of all forex trading experiences concentrated on conspiring with active traders. The broker is desirous of cooperating with traders worldwide.
Therefore its activities are regulated by authorities in different countries, such as the Cyprus Securities and Exchange Commission (CySEC), the German Federal Financial Supervisory Authority (BaFin), and the UK Financial Conduct Authority (FCA).
Pros of BDSwiss:
- Wide range of deposit and withdrawal methods.
- Periodically, the broker conducts online lectures for its clients.
- There is a big show of trading assets.
Cons Of BDSwiss:
- The broker charges a fee for inactivity on the account.
- There is no support on weekends.
- Lack of investment programs and trading bonuses.
3. Pepperstone:
Pepperstone is a trustworthy broker with top-tier licensed FCA and ASIC. It offers clients the choice between MetaTrader 4/5 and cTrader.
The account opening is digital, and the trading environment is one of the best Australian offerings with NDD accounts, useful analysis, and trading devices. The education section is of great quality, and the support is excellent.
Pros Of Pepperstone:
- Pepperstone protects UK client balance.
- Low FX spreads.
- Range of platform offerings.
Cons Of Pepperstone:
- Pepperstone does not accept US clients due to regulatory constraints, which precludes it from truly being considered a global broker.
- Website maintenance is substandard.
- Pepperstone does not give guaranteed stop-loss orders (GSLO) to anyone.
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4. HFM:
HFM, known as HotForex Market, is an award-winning forex and commodities broker with a cent account, providing trading services and facilities to retail and institutional clients to trade Forex and Commodities online, including a demo account on web trader and different types of demo contest.
It also offers to trade on HFM MT4, HFM MT5*, and the HFM Percentage Allocation Management Module (PAMM) System, which is the company’s customized version of the world’s most known trading platform.
Pros Of HFM:
- It improves clients’ overall trading experiences.
- Connection and sentiment data are available on HFM’s Traders Board module.
- Produces special research reports, including annual outlooks, quarterly, and monthly.
Cons Of HFM:
- Trading costs are above the industry average.
- Despite a legal selection of videos, HFM’s educational content has room to improve, such as adding more articles.
- Although the improvement of the HF app, it still does not allow trading, leaving MetaTrader as the only option for traders at HFM.
5. Axiory:
Axiory is international forex and CFD broker, offering tight spreads & leveraged trading, the MetaTrader 4 and cTrader platforms.
Pros Of Axiory:
- Axiory provides negative balance protection.
- Strong demo offering.
- Reliable customer support.
Cons Of Axiory:
- In Axiory, there is a regulation in offshore jurisdictions.
- Clients from multiple jurisdictions are not accepted, including European Union and the USA.
- Cryptocurrency trading is not available.
6. Eightcap:
Eightcap, also known as 8cap, is a global forex broker and CFD. Offering both the MT4 and MT5 trading platforms, as well as two competitive accounts, which enable users to trade over 250 financial instruments with ease. This review helps you decide whether to open an account, covering leverage plus the mobile app, spreads, and demo account.
Pros Of Eightcap:
- Eightcap has a good diversity of written articles.
- It provides a wide selection of 200+ cryptocurrency CFDs.
- Free deposit and withdrawal.
Cons Of Eightcap:
- Limited research and educational tools.
- The narrow range of CFD symbols.
- Lack of investor protection.
7. InstaForex:
InstaForex is an international broker that offers access to the global trading floors: from Forex in Electronic Communication Network (ECN) to working with derivatives (including binary options) and commodities. A large number of introducing offices of the company work in different spots of the world!
InstaForex also develops robustly and widens opportunities for its clients and partners.
Pros Of InstaForex:
- InstaForex broker offers advanced analytics and contests for traders.
- It has the best trading orders for novice traders.
- It generates passive income with its ForexCopy System of copy trading and PAMM accounts.
Cons Of InstaForex:
- Spreads are high.
- Support from the customers is not reliable with their responsiveness timeframes.
- Users encounter irregular trading terminal freezes.
8. FBS:
FBS is a global broker with 150+ countries of presence that offers low minimum deposits and different trading accounts with MT4 and MT5 integration. It also offers opportunities for trading forex, metals, stocks, energies, and indices.
Pros of FBS:
- Cryptocurrency trading account.
- MT4 and MT5 integration.
- Offers low minimum deposits.
Cons Of FBS:
- There are fewer accounts and trading options in the EU.
- Few account base currencies.
- FBS is not appropriate for short-term trading, such as scalping.
9. XM:
XM is an international broker with forex and CFD traders who prefer MetaTrader platforms and seek great account opening experience.
Pros Of XM:
- Easy and fast account opening.
- Massive educational tools.
- There is no commission for the restoration and withdrawal of money.
Cons Of XM:
- Passive investment services.
- Expanding their limited choice of trading platforms.
- Inactivity fee.
10. Global GT:
Global GT is an organized regulated broker which coheres with all regulatory standards to guarantee a high level of safety and capital a
sufficiency ratio at all times.
Pros Of Global GT:
- Global GT offers zero transaction fees on deposits and withdrawals.
- Only a $5 minimum deposit is required.
- The trading environment is secured.
- Deposit with fiat and crypto.
Cons Of Global GT:
- There is no education for beginners.
- No provision of services to the USA and EU.
- It is only overseen by the Financial Sector Conduct Authority (FSCA).
Conclusion:
These brokers that carry out transactions in cents are mainly for beginner traders though, other traders can use it based on their trading needs and objectives. Thus, it is advisable for you as you enter the forex trading field.
About Author
- I am a writer and researcher, a practical digital marketer, and a copywriter who communicates value to a society based on years of experience and knowledge in the field.
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