They say a journey of a thousand miles begins with a single step. Well, there are no reasons to contradict that. All Forex beginners should keep this proverb in mind when making their first steps in a rough and highly-competitive trading environment, which is Forex… or any other financial market.
Luckily for them, more and more broking companies start focusing on beginners, thereby offering the so-called micro accounts (or cent accounts). These accounts help beginners to get up and running in the business through practicing within the scope of genuine trading conditions without risking a lot of money.
What are these cent accounts and which brokers offer best trading conditions for beginning clients?
Cent Accounts
According to Eugene Olkhovsky, Masterforex-V Academy’s leading experts in financial markets from Canada, a cent account is an account where 1 point is equal to 10 cents or less. That is why cent accounts need a small amount of money as an initial deposit – some $50 will be quite enough.
At the same time, trading on cent accounts has no essential differences from trading on standard accounts.
Looking For Best Micro Brokers
These days, there are hundreds of broking companies in the industry. Most of them offer cent accounts for beginning traders. That is why it is necessary to do a lot of work in terms of analyzing a lot of information, which is not that easy, especially for beginning traders.
That is why Masterforex-V Academy decided to introduces the rating of Forex brokers offering cent accounts. The rating is a part of the project called Masterforex-V Expo.
Best Micro Forex Broker. June 2013
This month’s rating looks as follows:
· NordFX is the winner of the “Best Micro Forex Broker” title this month. In 2012, this broking company was recognized the “Best Forex Broker 2012”.
· RoboForex is the runner-up. It was recognized the Best Forex Broker For Automated Trading in 2012.
· The TOP 3 also includes Larson&Holz IT Ltd.
Once again, cent accounts are designed for beginners first of all to give them an opportunity to learn and master the ABC of trading without running major financial risks. However, such accounts could be helpful even to intermediate traders who are looking to create their own trading system but do not want to risk decent funds when testing in it.
