These days, you can get a whole lot of services offered by Forex companies. Even rookies with tiny trading capital have got a great opportunity to start trading Forex thanks to the so-called micro / cent accounts (they usually start from $1). I guess that some of you may have some questions like:
What are micro / cent accounts and why are they so popular among rookies worldwide? Why do you recommend choosing micro / cent accounts (usually $1 to $50) when deciding to switch to real-money trading? What are those micro brokers that enjoy the highest reputation and rating? Ok, I will try answer them here…
Forex Micro Brokers: Benefits and Peculiarities
Micro brokers are Forex companies letting you trade Forex with small-scale equity (a couple of bucks) due to he fact that those accounts are measured in cents rather than dollars. Basically, that’s why they are called cent accounts.
Eugene Olkhovsky (Canada), President of EUTA Capital Corp. and Masterforex-V Academy’s leading expert in financial markets, says that micro trading may look like an unpromising and unprofitable market niche on the surface. Still, this is not the case. Don’t get me wrong: any Forex broker would rather have one big-scale client with a fortune to trade (say, $50-100K or even more) 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 and reputable Forex companies truly 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, NordFX, FIBO Group, FBS) still occupy the micro-trading niche of this high-paying business. They understand that micro live accounts are the rookie’s first steps in the Forex trading environment. You never know… Maybe later they might turn into big-scale traders operating substantial finances.
On the other hand, cent accounts can be the best option for rookies trying their skills and testing their strategies without major risks, Mr. Olkhovsky assumes. Cent accounts are the most suitable accounts when it comes to testing your trading system or fighting such emotional deterrents as 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 Forex company is actually reliable and suitable for you in terms of trading conditions and other aspects. If this is a scam or an unfair broker, then obviously it isn’t worth trusting.
Cent Accounts: 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 option for testing the quality of the Forex company’s services without risking big money.
Masterforex-V Expo's Rating Of Forex Micro Brokers. April 2015
The chart below, courtesy of Masterforex-V Academy’s project called Masterforex-V Expo, shows us the monthly rating of the Forex industry’s best micro brokers in April 2015:
The TOP 3 looks as follows:
FIBO Group – 1 323,50
Nord FX - 1301,10
FBS - 1 300,70
These 3 top micro brokers are followed by:
- RVD Markets
- Alpari
- Fort Financial Services
- Forex club
- Arsenal-FX
- Larson&Holz
- GKFX
- RoboForex
- FXOpen
- Grand Capital
- Forex4you
- LiteForex
- FX Start
- eToro
- EXNESS
- HotForex
- InstaForex
- Lionstone Investment
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…
