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. July 2014
The latest rating looks as follows:
At this point, the rating includes 22 broking companies offering micro/cent accounts for rookies and those who want to test various purchased or self-made trading strategies. As you can see, NordFX is the current frontrunner of the rating. FIBO Group and FBS as well as RoboForex and Alpari make the TOP5 of the rating.
All of them are reputable broking companies with decent operational history, various prestigious awards and major licenses. They can really be good options for trading Forex beyond micro accounts, including big-scale trading, automated trading with the help of expert advisors, investment opportunities and so much more.
