0
Opening a cent account gives a trader a possibility to start trading in the Forex market with a minimum deposit and test his trading system when working with real money.
The idea of cent accounts has been developed by LiteForex group of companies (www.liteforex.org) and successfully adopted by many dealing centers.
Classic dollar and cent accounts differ only by deposit amount. Cent account balance is indicated in cents in a trading terminal which is a big advantage for beginners and lets them get an experience of working with sums of many thousands. For example, if you fund your account with $20, your deposit balance will be indicated as 2000 cents.
Operating a demo account is a necessary experience as well but it doesn't enable a beginning trader to feel a psychological component that is always present when trading on a real account. Cent accounts discipline Forex traders and help them cope with emotions when making their first real transactions.
Trading on cent accounts is carried out on the same conditions as on dollar accounts: quotes and automated order execution are the same for both types.
Professional traders often use cent accounts for testing new trading strategies.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is the website for online forex currency trading?
The name of the Forex currency trading is Forex. One can open an actual account or practice account there. There are several articles posted daily also.
Where can one get a Forex Managed account?
You get accounts at Forex Managed on their website. The Forex website should be the only place where you get a Forex Managed account, as other websites not owned by Forex promising to give Forex accounts may be phishing scams.
Where can you get a demo trading account for Forex?
One is able to get a demo trading account for Forex on either their website which is called simply: Forex, or on one of their host websites that does advertisements for Forex. You can get the Demo Account through most of the all Forex Brokers. For Demo Account no need to invest much amount. Personally i suggest you to go with IntegerFX for minimum demo trading Account.
How can you get a forex account?
There are several websites and companies that can get you started with a forex account. Before you open an account, you need to decide whether you would like to do the trading yourself or if you would like to work with a broker.
What is a pip in Forex trading?
A pip in Forex trading is used to calculate one's profits and losses. In Forex trading, the value of a currency is given in pips. For most currencies, a pip is 1/100 of a cent.
What is the website for online forex currency trading?
The name of the Forex currency trading is Forex. One can open an actual account or practice account there. There are several articles posted daily also.
How can someone make a Forex Paypal account?
In order to create an official Forex Paypal account, there are many things that must be done. For starters, you must have an active account with both Paypal and Forex. Next, if you wish to combine the two (which is what a Forex Paypal account is) all you have to do is send a request with your paypal account information to Forex and they can link them for you. After that, you have both your financial expenses from paypal and your foreign exchange market information all in the same place.
Where can one get a Forex Managed account?
You get accounts at Forex Managed on their website. The Forex website should be the only place where you get a Forex Managed account, as other websites not owned by Forex promising to give Forex accounts may be phishing scams.
Where can you get a demo trading account for Forex?
One is able to get a demo trading account for Forex on either their website which is called simply: Forex, or on one of their host websites that does advertisements for Forex. You can get the Demo Account through most of the all Forex Brokers. For Demo Account no need to invest much amount. Personally i suggest you to go with IntegerFX for minimum demo trading Account.
How can you obtain a forex account?
All you have to do to get a Forex account is sign up with them online. The application takes about 10 minutes, and you will have to provide personal and financial information.
How can you get a forex account?
There are several websites and companies that can get you started with a forex account. Before you open an account, you need to decide whether you would like to do the trading yourself or if you would like to work with a broker.
What kind of return can one expect from using a Forex Future account?
The kind of return that can be expected from using a Forex Future account depends on the experience of the investor. An experienced investor can expect to earn money as normal when using a Forex Future account with intelligent financial decisions.
What is a pip in Forex trading?
A pip in Forex trading is used to calculate one's profits and losses. In Forex trading, the value of a currency is given in pips. For most currencies, a pip is 1/100 of a cent.
Would the NYSE be a good place to sign up for a forex capital market account?
"If you would like to sign up for a Forex capital market account, I would suggest going directly to the Forex company, possibly by use of their website. Forex trading can help you trade on the NYSE, but you cannot sign up for an account at a stock exchange building."
What are India's account balances and major features of their account balance and capital account balance and Forex reserves for 2001 to 2006?
1. capital account balance and forex reserves for the period 2001-2006 and list the major features.
Where can you find a forex demo?
It is very simple to avail a forex demo.The person has to first find a forex broker who can help to set up and account and then take it forward from there.
Where can one get updated news on Forex trading?
One can get updated news on Forex trading online at Bloomberg News or Forex Live. One can also create an account on Forex's website to learn more there.
