Best Cent Account Forex Brokers 2024

Best overall, excelling in all aspects

Exness is a global online trading broker established in 2008, regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). They offer trading services across various financial instruments, including Forex, cryptocurrencies, Metals, Energies, Indices, and Stocks. To cater to diverse client needs, Exness offers multiple account types, including Cent, Standard, and others, with advantages such as flexible leverage, tight spreads, and fast order execution. Additionally, they provide educational resources to equip traders.

Overall Rating	⭐⭐⭐⭐⭐
Min. Deposit	$10
Regulation	FSCA, CYSEC, FCA, FSA
Trading Instruments	currency pairs, metals, energies, stocks, indices
Demo Account	Yes
Max. Leverage	1: Unlimited
Trading Platforms	Exness trading app, Exness Web, MT4, MT5
Customer Support	24/7 live chat, phone, email
Regional Restrictions	Residents of the United States, Iran, North Korea, Europe, the United Kingdom, and other jurisdictions are excluded.

Exness Cent Account

Exness Cent Account is an excellent choice for traders who want to experience live market conditions with lower risk. The account allows trading in currency pairs and metals with spreads starting from 0.3 pips. It provides unlimited leverage and is compatible with the MT4 trading platform. The minimum deposit depends on the payment system used, and it offers the benefits of a swap-free account.

Exness Cent Account Pros & Cons

Best for the lowest minimum order volume on MT5

RoboForex is a regulated global online broker that was established in 2009. Providing services to clients all over the world, they offer trading in multiple assets like Forex, stocks, indices, ETFs, commodities, and cryptocurrencies. RoboForex is known for its diverse range of account types, advanced trading platforms including MT4, MT5, MobileTrader, StocksTrader, WebTrader, and attractive offers like cashback and bonuses. Educational resources and round-the-clock customer support are also available.

Overall Rating	⭐⭐⭐⭐⭐
Min. Deposit	$10
Regulation	CySEC, NBRB, FSC
Trading Instruments	8 asset classes - Forex, Stocks, Indices, CFDs on Futures, Energies, Commodities, Cryptocurrencies, ETFS
Demo Account	Yes
Max. Leverage	1:2000
Trading Platforms	MT4, MT5, MobileTrader, StocksTrader, WebTrader
Customer Support	24/7 live chat, phone, email
Regional Restrictions	They don't work in the territory of the USA, Canada, Japan, Australia, Bonaire, Brazil, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, and other restricted countries.

RoboForex Cent Account

RoboForex offers a Cent Account that is designed to provide traders access to real market conditions with lower risk due to smaller trading volumes. The account allows trading on 36 currency pairs and metals with floating spreads starting from 1.3 pips. It offers high leverage of up to 1:2000 and compatibility with multiple platforms including MT4, MT5, WebTrader, and MobileTrader. The minimum deposit requirement of this account is $/€10, and it also features a swap-free option.

RoboForex Cent Account Pros & Cons

Best for offering the highest leverage

HFM is a well-established global financial trading platform that allows its clients to trade in a diverse range of financial instruments. It is recognized for its robust infrastructure, state-of-the-art trading platforms, and user-friendly interface. HFM offers an array of investment opportunities, including forex, commodities, indices, and cryptocurrencies. It prides itself on its favourable trading conditions, comprehensive educational resources, and dedicated customer support.

Overall Rating	⭐⭐⭐⭐⭐
Min. Deposit	$0
Regulation	CySEC, FCA, DFSA, FSA, CNMV
Trading Instruments	1000+ CFDs on Forex, Commodities, Bonds, Metals, Energies, ETFs, Indices, Cryptos, Stocks
Demo Account	Yes
Max. Leverage	1:2000
Trading Platforms	MT4, MT5, HFM App
Customer Support	Live chat, phone, email
Regional Restrictions	Residents of the USA, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, Vanuatu and EEA countries are excluded.

HFM Cent Account

HFM provides a Cent Account that is appropriate for those wanting to experience trading with less financial risk. It comes with a high leverage of 1:2000 and offers variable spreads beginning from 1.2 pips. Significantly, it has no minimum deposit requirement, making it even more accessible for beginners or traders with limited capital.

HFM Cent Account Pros & Cons

Best for providing Cent accounts on both MT4 & MT5

FBS is a respected international online broker founded in 2009 and regulated by IFSC and CySEC. Offering a variety of financial instruments including Forex, Metals, Indices, Energies, and Stocks across multiple trading platforms such as MT4, MT5 and FBS Trader, it serves clients from over 190 countries. FBS is known for its flexible account types, accommodating the needs of both beginner and experienced traders. It also offers a variety of educational resources and 24/7 customer support.

Overall Rating	⭐⭐⭐⭐⭐
Min. Deposit	$1
Regulation	CySEC, FSC
Trading Instruments	Forex, CFDs, Stocks, Cryptocurrencies, Metals, Energies
Demo Account	Yes
Max. Leverage	1:3000
Trading Platforms	MT4, MT5, FBS Trader
Customer Support	24/7 live chat, phone, email
Regional Restrictions	N/A

FBS Cent Account

FBS offers a Cent Account aimed at new traders or those wishing to employ more risk-averse strategies. With a minimum deposit of just $1 and high leverage of 1:1000, it's a highly accessible option. The account also offers a very competitive floating spread starting around 0.9 pips for EUR/USD and is swap-free.

FBS Cent Account Pros & Cons

Best for the range of instruments on Cent accounts

BDSwiss is an established online trading brokerage founded in 2012 and regulated by CySEC and FSA. Offering an extensive range of financial instruments including Forex, Commodities, Indices, Cryptocurrencies, and Stocks, it caters to more than a million registered accounts globally. Available on multiple trading platforms such as MT4, MT5, and BDSwiss Web Trader, BDSwiss is flexible for varying trading needs. Renowned for its excellence in diverse trading conditions, comprehensive educational resources, and excellent customer support, BDSwiss maintains high standards of transparency and security.

Overall Rating	⭐⭐⭐⭐⭐
Min. Deposit	$10
Regulation	CySEC, FSA
Trading Instruments	Forex, commodities, shares, indices and cryptocurrencies
Demo Account	Yes
Max. Leverage	1:500
Trading Platforms	MT4, MT5, BDSwiss Mobile APP, BDSwiss WebTrader
Customer Support	24/5 live chat, phone, email
Regional Restrictions	N/A

BDSwiss Cent Account

BDSwiss' Cent Account is suitable for traders who wish to trade with reduced financial risk. The account requires a minimum deposit of 10 and provides access to over 70 trading instruments. It promotes transparency with 0 commission and spreads starting from 1.6 pips.

BDSwiss Cent Account Pros & Cons

Best for offering two types of Cent accounts

Forex4you is an international online trading broker that has been offering services to traders since 2007. Regulated by the FSC, it provides a wide range of trading instruments, including Forex, stocks, indices, and commodities. The broker is known for its user-friendly trading platforms, multiple account types designed to suit different traders, and a competitive leverage of up to 1:2000. Forex4you also offers comprehensive educational resources and round-the-clock customer support.

Overall Rating	⭐⭐⭐⭐
Min. Deposit	$0
Regulation	FSC
Trading Instruments	150+, 50+ currency pairs, commodities, 15+ major indices, 50+ stocks
Demo Account	Yes
Max. Leverage	1:2000
Trading Platforms	MT4, MT5, WebTrader
Customer Support	24/7 live chat, phone, email
Regional Restrictions	The service is not available for residents in the US, Japan, Canada, Australia and the European Economic Area.

Forex4you Cent Account

Forex4you offers two types of Cent Accounts: Cent Fixed Account and Cent Pro Account. Both accounts do not require a minimum deposit and offer leverage ranging from 1:1 to 1:1000. The Cent Fixed Account has fixed spreads starting from 2 pips and does not charge commissions, while the Cent Pro Account has floating spreads from 0.1 pips but charges $10 cents per lot as commission. Both accounts support instant and market execution respectively, and offer the benefit of a swap-free account.

Forex4you Cent Account Pros & Cons

Best for maintaining high stop outs

RoboMarkets is a multi-asset online broker that was established in 2012. It's regulated by the Cyprus Securities and Exchange Commission (CySEC), thus providing traders with a high level of security and transparency. The broker offers trading on a variety of asset classes, including forex, stocks, indices, ETFs, commodities, and cryptocurrencies. Available on multiple platforms such as MT4, MT5, and TradingView, RoboMarkets caters to different trading needs, providing a selection of account types and competitive spreads. The company places a strong emphasis on education and customer support.

Overall Rating	⭐⭐⭐⭐
Min. Deposit	＄/€/￡100
Regulation	CySEC
Trading Instruments	3000+, stocks, indices, forex, cryptocurrencies, ETFs, commodities, precious metals, energy
Demo Account	N/A
Max. Leverage	N/A
Trading Platforms	WebTrader, MobileTrader, TradingView, MT4, MT5
Customer Support	Live chat, phone
Regional Restrictions	RoboMarkets provides financial services only to the residents of the EU/EEA countries.

RoboMarkets ProCent Account

RoboMarkets offers a ProCent Account that caters to different classes of traders, including beginners and those interested in minimizing their trading risks. With a required minimum deposit of $/€/£100 and offering 36 CFDs on forex and metals, it provides relatively diverse trading possibilities. It offers floating spreads starting from 1.3 points, commission-free trading, and market execution.

RoboMarkets ProCent Account Pros & Cons

Best for having no minimum deposit requirements

FIBO Group is a reputable online trading broker that has been in the industry since 1998. It's regulated by the CySEC, BaFin, and FSC, providing a reliable and transparent trading environment. FIBO Group offers a wide variety of financial instruments, encompassing Forex, Precious Metals, Indices, and Commodities, among other options. The broker provides accessibility across various platforms including MT4, MT5, and cTrader, and caters to different trading styles with various account types, competitive spreads, and leverage up to 1:1000. Alongside trading services, FIBO Group also offers educational resources and dedicated customer support.

Overall Rating	⭐⭐⭐⭐
Min. Deposit	$0
Regulation	CySEC, BaFin, FSC
Trading Instruments	Forex, spot metals, cryptocurrencies, CFDs
Demo Account	Yes
Max. Leverage	1:1000
Trading Platforms	MT4, MT5, cTrader
Customer Support	24/5 live chat, phone, email
Regional Restrictions	Residents of United Kingdom, North Korea and USA are excluded.

FIBO Group MT4 Cent Account

FIBO Group's MT4 Cent Account offers a unique proposition for traders looking for minimal financial risk in forex trading. The attractive aspect is the non-existence of a minimum deposit requirement, coupled with an impressive maximum leverage of 1:1000. The account also offers a swap-free option which can attract traders of Islamic faith.

FIBO Group MT4 Cent Account Pros & Cons

Best for completing commission-free transactions

JustMarkets is a prominent online trading broker that provides quick and secure access to a broad spectrum of financial markets. Regulated by recognized authorities, JustMarkets offers a diverse range of trading instruments including Forex pairs, Indices, Commodities, Stocks, and Cryptocurrencies. Available on user-friendly platforms, it provides traders with a selection of accounts to match their trading needs, competitive spreads, and leverage. In addition to its trading services, JustMarkets emphasizes educating its users via comprehensive educational resources and provides responsive customer assistance.

Overall Rating	⭐⭐⭐⭐
Min. Deposit	$10
Regulation	CySEC, FSA
Trading Instruments	260+, currency pairs, precious metals, energies, indices, and shares
Demo Account	Yes
Max. Leverage	1:3000
Trading Platforms	MT4, MT5
Customer Support	24/7 live chat, phone, email
Regional Restrictions	JustMarkets does not provide services to residents and citizens of certain jurisdictions, including Australia, Canada, the EU and EEA, Japan, the United Kingdom, the United States of America, and countries sanctioned by the EU.

JustMarkets MT4 Standard Cent Account

JustMarkets' MT4 Standard Cent Account provides an enticing choice for traders seeking to limit financial risks. With a negligible minimum deposit of $10 and a high max leverage of 1:3000, it offers significant financial flexibility. The account is advantageous in terms of its low starting spreads from 0.3 pips and absence of commission. Moreover, it provides a swap-free option.

JustMarkets MT4 Standard Cent Account Pros & Cons

A Cent Account is a type of forex trading account that denominates the amount deposited into cents. In this type of account, if you deposit $10, it will appear as 1000 cents in your account. This allows you to trade in smaller increments and with lower risk, which is particularly beneficial for beginners or those with smaller amounts to invest. It allows you to better manage risk and execute strategy effectively without requiring high capital.

A Cent Account in Forex works by denoting the deposited amount and all trading transactions in cents instead of standard currency units, like the Dollar or Euro. The goal is to allow traders to gain experience in a live trading environment with lower financial risk.

e.g.

If you deposit $10 into a Cent Account, instead of reading as $10.00, your account balance will show 1000 cents. All your trades would then be conducted in terms of cents rather than dollars.

A significant advantage this presents is the ability to trade with reduced size lots.

e.g.

If a broker offers a minimum lot size of 0.01 in a standard account (equivalent to 1000 units of base currency), the same 0.01 lot in a Cent Account equates to just 10 units. Consequently, this reduces the cost per pip, thereby decreasing the total risk per trade.

In essence, a Cent Account allows you, especially beginners or those with limited capital, to participate in the nearly identical trading environment as those with larger accounts but at a much diminished financial risk.

However, while the benefits may be reduced, so are the potential profits. The profits, similar to the investments, are also calculated in cents. Hence, a potential trade win that could seem large when calculated in cents might be quite small when converted back to standard currency.

Each type of account has its own advantages and is meant to cater to different levels of traders.

• Cent Account

The strength of a Cent Account lies in its lower risk level and lower minimum deposit requirement, making it ideal for beginners and those who want to experiment with new strategies without putting much capital at risk. However, the potential profit is also lower since all transactions are denominated in cents not standard currency units.

• Micro Account

This is something of a middle ground between Cent and Standard accounts. It allows trading in smaller currency units than a standard account, which reduces risk and minimum deposit requirements. It's suitable for those with a bit more trading experience and capital.

• Standard Account

These accounts are typically for well-funded and good-experienced traders. They offer the potential for larger profits but at the expense of higher risk. Transactions in a standard account are done in standard currency units.

• Demo Account

As the name implies, a demo account isfor demonstration or practice purposes. It uses virtual currency, so theres no risk of losing real money, and no real profit can be earned. It's ideal for beginners learning the ropes, or experienced traders wanting to test new strategies.

Cent Accounts come with their own set of advantages and disadvantages.

Pros

• Lower Risk: Since the trading balance and profits/losses are calculated in cents instead of dollars, the risk associated with trading is significantly reduced.

• Ideal for beginners: Cent Accounts are perfect for those who are new to forex trading, as they allow trading in smaller lot sizes. This allows you to learn and experiment without incurring heavy losses.

• Low investment requirement: Cent Accounts often have lower minimum deposit requirements.

• Allows for more precise risk management: Because you can be made in smaller increments, cent accounts can offer more precise risk management.

Cons

• Limited brokers offer Cent accounts: Not all Forex brokers offer the option of a Cent Account.

• Possible lower leverage: Sometimes, brokers may offer lower leverage on Cent Accounts than on standard accounts.

• Limited Earning Potential: Income potential may be limited because profits are also counted in cents rather than dollars. A gain that looks large in terms of cents may not be very significant in actual Dollar terms.

• May promote less mindful trading: The small stakes can sometimes lead to careless trading, as losses are less painful in cent amounts. This could develop bad habits for when you transition to a standard account.

In Cent Accounts, a lot size refers to the total number of currency units that you're trading. Because the currency value is denoted in cents, the lot size is also quantified differently than a standard account. Namely, one standard lot in a Cent Account differs and is significantly smaller than in a standard account. Therefore, the lot size in Cent Accounts allows traders to trade at diminished risk levels, making it more suitable for new traders or those with smaller capital balances.

For example, in some Cent Accounts, 1 standard lot equals 100,000 cents, not dollars. Plus, this type of account often allows a lower minimum trading volume, such as micro or even nano lots.

Yes, Cent Accounts can be a perfect fit for beginners in Forex trading.

Since all balances, profits, and losses are calculated in cents rather than standard currency, beginners can experiment without the fear of significant financial losses. These accounts are also more accessible because they typically have lower deposit requirements. They provide a practical learning experience for beginners as they are like trading on a live account but without risking a large amount of money. Lastly, Cent Accounts also allow precise risk management as trades can be made in smaller increments.

Choosing the best Cent Account Forex broker requires careful consideration. You should consider the following aspects:

Regulation and Security

The broker should be regulated by reputable financial authorities. This indicates the broker's legitimacy and provides you with certain protections.

On WikiFX, we strive to deliver the most relevant and up-to-date regulatory information about forex brokers. We understand how vital it is to know your broker's regulatory status before investing your hard-earned money. Our team conducts an extensive background check on forex brokers from around the globe to provide you with their regulatory data and other critical aspects.

By using WikiFX, you can easily verify a broker's regulatory status and steer clear of potential frauds or unregulated platforms. Knowledge is power - stay informed, stay safe and always check a broker's regulatory status on WikiFX before investing. It's easy, fast, and can save you from unnecessary losses.

Account Flexibility

Your broker should offer the flexibility to adjust lot sizes and provide options suitable for your trading strategy.

Low Spreads and Commissions

Ideally, the broker should offer low spreads and commissions. This factors into your trading costs, especially if you're trading frequently.

Trading Platform

Ensure the trading platform is reliable and user-friendly. Popular platforms like MetaTrader 4 or MetaTrader 5 are usually a safe bet.

Educational Resources

Useful for beginners. These resources can help you better understand Forex trading.

Customer Support

Responsive and professional customer support can be very important, especially when you experience issues or have queries.

Take your time to research, read reviews, and test out a broker (many offer demo accounts) before deciding.