As you probably know, today’s Forex industry offers a huge variety of services. Even rookie traders with tiny trading capital now have a decent opportunity to trade Forex on the so-called micro / cent accounts (starting from $1). I bet some of you have some questions like:
What are micro / cent accounts? Why are they so popular among rookies worldwide? Why are beginning traders recommended to choose micro / cent accounts (usually $1 to $50) when deciding to switch to real-money trading? Which micro brokers are the most reputable, popular and reliable? Let’s find this out…
Peculiarities of Micro Brokerage
Micro brokers are businesses allowing micro-lot trading or cent trading. Eugene Olkhovsky (Canada), Masterforex-V Academy ’s leading expert in financial markets, assumes that on the surface, micro trading looks like an unpromising and unprofitable market niche. Apparently, any broker would rather have one big-scale client with substantial funds to trade (say, $50-100K) rather than dealing with hundreds of micro traders with tiny trading capital (say, $10-100).
In reality, micro trading can actually be promising for those fair, reputable and reliable broking companies interested in long-term cooperation with successful traders since some of those rookies may eventually grow into professional traders managing 10-100K accounts and allowing the broker to generate stable profits on spreads and commissions.
That is the reason why major Forex brokers (like Forex club, Alpari, FIBO Group, FBS) still occupy the micro-trading niche of this high-paying business. They understand that micro / cent accounts are beginner’s first steps in the Forex trading environment. Later they might turn into big-scale traders operating substantial funds.
On the other hand, micro / cent accounts can be the best option for rookies trying their skills and testing their strategies without major risks, Eugene Olkhovsky says. Micro-accounts are the most suitable accounts when it comes to testing your trading system or overcoming greed, nervousness and excitement. These are the traits beginning traders must get rid of to become professionals. Another reason to trade micro-accounts is to find out whether a particular broker is reliable and suitable for you in terms of trading conditions. If this is a scam trying to make you lose your micro deposit, then obviously it isn’t worth trusting.
Micro Brokers: Best Choice for Switching from Demo to Live Trading
Despite the fact that the so-called “micro” brokers allow their clients to open “micro” accounts and deposit $5, $10… $50, the niche can be profitable as well since the amount of rookies is bigger than those trading Forex professionally. It is micro brokers who actually help rookies gradually switch from demo to real-money (live) trading without running major risks. On top of that, they give their clients a decent opportunity to test new and existing strategies in genuine market conditions.
Micro brokers bet on promising beginners who could later become successful professionals and manage decent amounts of money to generate stable decent profits for themselves and the brokers.
Moreover, for beginners, this is a perfect opportunity to test the quality of the broker’s services without risking big bucks.
Masterforex-V Expo's Rating Of Forex Micro Brokers. October 2014
The following table shows the monthly rating of the industry’s best micro Forex brokers, courtesy of Masterforex-V Academy’s project called Masterforex-V Expo:
As you can see, the top of the rating is occupied by some of the best companies in the brokerage business. These are companies enjoying reputation and high status among traders and investors worldwide. They offer their client competitive trading conditions. But still, they are trying to cater to the needs of every single client, whether it is a complete rookie making his (her) first steps in the trading environment or a true professional. This feature really deserves respect since it shows that such brokers are truly client-oriented businesses betting on today’s rookies, who may later turn into real trading giants brining the company stellar profits on a regular basis. Maybe you are one of them…
