Best Cent Account Forex Brokers in 2024

Last updated Feb 15, 2024
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

Cent accounts are a popular option for starting Forex trading without significant financial risk. Unlike a demo account, a cent account offers the full spectrum of genuine Forex trading experiences. Here, we will examine a list of Forex brokers offering cent accounts. These brokers can help you embark on your journey in the financial market trading. We will also discuss who can benefit from cent accounts, their unique features, and how to select a cent account properly.

Top 10 Cent Account Forex Brokers for 2024

Логотип Roboforex
1
Foundation Year
2009
Minimum Deposit
$ 10
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsRoboforex review34 reviews about Roboforex
Логотип HF Markets
2
Foundation Year
2009
Minimum Deposit
$ 1
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsHF Markets review
Логотип IFC Markets
3
Foundation Year
2005
Minimum Deposit
$ 1
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsIFC Markets review
Логотип FBS
4
Foundation Year
2007
Minimum Deposit
$ 1
4.3/5
Register73.21% of retail investors lose money when trading CFDs with this brokerFBS review
Логотип Exness
5
Foundation Year
2008
Minimum Deposit
$ 10
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsExness review
Логотип XM
6
Foundation Year
2009
Minimum Deposit
$ 5
4.2/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsXM review
Логотип InstaForex
7
Foundation Year
2007
Minimum Deposit
$ 1
4.2/5
Register71.99% of retail investors lose money when trading CFDs with this brokerInstaForex review16 reviews about InstaForex
Логотип Fibo Group
8
Foundation Year
1998
Minimum Deposit
$ 1
4.1/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsFibo Group review
Логотип Grand Capital
9
Foundation Year
2006
Minimum Deposit
$ 10
4/5
RegisterTrading CFDs carries high risks. You may lose all invested fundsGrand Capital review
Логотип LiteFinance
10
Foundation Year
2004
Minimum Deposit
$ 10
4/5
Register80% of retail investors lose money when trading CFDs with this brokerLiteFinance review

We conducted an in-depth analysis of numerous brokerage firms. We selected the best ones offering cent accounts, ideal for beginner traders and those who prefer to minimize risks in Forex trading. Our list includes reviews of the top Forex brokers with cent accounts, helping you make an informed choice.

1. RoboForex

Логотип Roboforex
1
4.4/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexIndicesStocksETFPrecious MetalsEnergy CarriersAgricultural CommoditiesFutures
Trading Platforms
MetaTrader 5MetaTrader 4R WebTraderR MobileTraderR StocksTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип AdvCash
Логотип Perfect Money
Логотип Касса24
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип JCB
compare Roboforex trading accounts

Roboforex is suitable for both beginners and professional traders, thanks to its impeccable reputation, reliability, and fair conditions.

Advantages of Roboforex

  • A variety of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and R StocksTrader.
  • Over 12,000 trading instruments, including currency pairs, stocks, indices, ETFs, commodities, metals, and cryptocurrencies.
  • Different types of accounts for traders of all experience levels, including accounts with ECN and STP access.
  • Competent 24/7 customer support.
  • Loyalty programs and bonus offers for clients.
  • Low spreads and commissions, as well as the ability to trade with high leverage.

Disadvantages of Roboforex

  • Regulation in an offshore jurisdiction.
  • Beginner traders may find a lack of educational materials.

2. HF Markets

Логотип HF Markets
2
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexStocksIndicesBondsETFCryptocurrencyPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 4MetaTrader 5WebTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Perfect Money
Логотип FasaPay
Логотип BitPay
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
compare HF Markets trading accounts

HF Markets is suitable for traders of any level looking for a reliable broker with good trading conditions and support for MetaTrader 4 and 5.

Advantages of HF Markets

  • Regulation and reliability. The broker is regulated by various regulators, including the FCA (UK), CySEC (Cyprus), and FSCA (South Africa), ensuring the safety of clients' funds and adherence to high business standards.
  • Wide selection of trading instruments. HF Markets offers a large selection of trading assets, including currency pairs, indices, stocks, commodities, and cryptocurrencies.
  • Educational materials and analytics. The broker offers a variety of educational materials, webinars, video tutorials, and analytical reviews, helping traders to improve their skills and make informed trading decisions.
  • Support in different languages. Customer support is available in many languages, making the broker accessible to traders from around the world.

Disadvantages of HF Markets

  • No proprietary trading platform. HF Markets offers trading through the popular platforms MetaTrader 4 and MetaTrader 5 but does not provide a unique proprietary trading platform. This may be a disadvantage for traders seeking a more personalized and innovative trading experience.
  • Absence of fixed spreads. For traders who prefer to trade with fixed spreads, HF Markets may not be the best choice, as only floating spreads are offered on standard accounts.
  • High swaps and wide spreads. On the Premium account at HF Markets, traders encounter high swaps and wide spreads, which can be a disadvantage, especially for those who prefer to trade large volumes or keep positions open for an extended period.

3. IFC Markets

Логотип IFC Markets
3
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexStocksETFIndicesCryptocurrencyPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
NetTradeXMetaTrader 4MetaTrader 5
Deposit/withdrawal:
Логотип AdvCash
Логотип WebMoney
Логотип Perfect Money
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
compare IFC Markets trading accounts

IFC Markets is suitable for traders looking for various trading instruments and platforms but may not be ideal for those who require an ECN account.

Advantages of IFC Markets

  • Instruments. The broker offers various trading instruments, including currency pairs, stocks, indices, commodities, metals, and cryptocurrencies.
  • Platforms. IFC Markets provides access to popular trading platforms such as MetaTrader 4 and MetaTrader 5 and its proprietary platform NetTradeX.
  • Educational materials. The company offers educational materials for traders of all experience levels, including videos, articles, webinars, and analytical materials.
  • Customization. IFC Markets offers tools for creating synthetic instruments (PCI), allowing users to create their own trading instruments based on multiple assets.
  • Multilingual support. The broker offers support in various languages, which can be helpful for clients from around the world.

Disadvantages of IFC Markets

  • Lack of ECN accounts. IFC Markets does not offer trading on the ECN market, which may disadvantage experienced traders who prefer trading with direct market access.

4. FBS

Логотип FBS
4
4.3/5
Register73.21% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesStocksCryptocurrencyPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 4MetaTrader 5FBS Trader
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип Perfect Money
Логотип SticPay
Логотип Visa
Логотип Mastercard
Логотип Maestro
compare FBS trading accounts

FBS is suitable for beginners thanks to educational materials, as well as for experienced traders who value MetaTrader and reliability.

Advantages of FBS

  • Regulation. FBS is regulated by major international organizations such as CySEC and ASIC, ensuring the reliability and security of services.
  • Low spreads and commissions. Broker FBS offers competitive spreads and commissions, allowing traders to reduce their trading costs.
  • Wide range of trading assets. FBS provides access to a variety of trading assets, including currency pairs, metals, indices, stocks, and commodities.
  • Educational materials and analytics. FBS offers an extensive database of educational materials and analytical tools, helping traders to develop their skills and make informed decisions.
  • Support for various trading platforms. FBS provides the opportunity to use popular trading platforms such as MetaTrader 4 and MetaTrader 5.
  • Multilingual support. FBS technical support is available in multiple languages, facilitating interaction with clients from different countries.

Disadvantages of FBS

  • Limited choice of trading accounts. FBS offers only one trading account, which limits traders in the diversity of trading strategies.
  • Limited choice of account currency. FBS offers to open an account only in USD or EUR, which may be inconvenient for traders from different countries who wish to trade in their national currency. This can lead to additional conversion expenses when depositing and withdrawing funds.

5. Exness

Логотип Exness
5
4.3/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 4MetaTrader 5
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Perfect Money
Логотип Visa
Логотип Mastercard
compare Exness trading accounts

Exness is suitable for traders looking for a reliable broker with a decent selection of trading accounts and platforms.

Advantages of Exness

  • Wide selection of accounts. Broker offers various types of accounts suitable for traders of different experience levels and needs.
  • Instant fund withdrawal. Fast crediting and withdrawal of funds using various payment systems.
  • Multilingual support. 24/7 support in 16 languages.
  • Variety of trading platforms. Availability of mobile app, web terminal, and popular MetaTrader platforms.
  • Analytical tools. Access to Dow Jones news, economic calendar, and analytics from Trading Central.

Disadvantages of Exness

  • Limited selection of educational materials. Lack of webinars, videos, and other educational resources.
  • Average selection of markets and products. Absence of soft commodities, with the overall number of CFDs being average.
  • Deposit fees. Some deposit methods incur fees.
  • No bank transfer and cryptocurrencies. The absence of these payment methods may not suit some traders.

6. XM Group

Логотип XM
6
4.2/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesStocksCommodities
Trading Platforms
MetaTrader 5MetaTrader 4
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип WebMoney
Логотип Perfect Money
Логотип SticPay
Логотип Visa
Логотип Mastercard
compare XM trading accounts

Broker XM is suitable for both novice traders, thanks to educational materials, and experienced traders who value a variety of instruments.

Advantages of XM

  • Wide range of trading instruments. Over 1500 items, including currency pairs, CFDs on stocks, indices, commodities, and cryptocurrencies.
  • Extensive educational resources. Including webinars, video tutorials, and online classes for traders of all levels.
  • Tight spreads on the Ultra Low account. Spreads below market average, and no swaps on many currency pairs.
  • Many analytical materials. The broker offers a wide range of tools and materials for market analysis.
  • Commission-free deposits and withdrawals. Many available methods without commissions.

Disadvantages of XM

  • Inconsistency in technical support. Customer reviews indicate a mismatch in service quality and inefficiency of solutions.
  • Inactivity fee. A charge is levied for account inactivity after 12 months.
  • Absence of cryptocurrencies as deposit/withdrawal methods. Limits options for those who prefer to use cryptocurrencies.
  • Some accounts have higher than average spreads. For example, the Standard account has a higher spread than the market average.

7. InstaForex

Логотип InstaForex
7
4.2/5
Register71.99% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFPrecious MetalsEnergy CarriersAgricultural Commodities
Trading Platforms
MetaTrader 5MetaTrader 4InstaForex Webtrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип YooMoney
Логотип PayCo
Логотип AstroPay
Логотип Swift
Логотип Visa
Логотип Mastercard
compare InstaForex trading accounts

InstaForex is suitable for beginner traders looking for simple conditions and education but may be unsuitable for professionals with large deposits due to wide spreads and low liquidity.

Advantages of InstaForex

  • Large selection of trading instruments.
  • PAMM accounts and the ForexCopy automatic trade copying service for passive income.
  • 24/7 efficient customer support.
  • Wide range of methods for depositing and withdrawing funds.
  • Decent analytical section.

Disadvantages of InstaForex

  • Trading commissions are above average.
  • No trading accounts with market execution of orders (ECN or STP).
  • Broker commission on fund withdrawals.

8. FIBO Group

Логотип Fibo Group
8
4.1/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexCryptocurrencyPrecious MetalsEnergy CarriersAgricultural CommoditiesIndices
Trading Platforms
MetaTrader 4cTraderMetaTrader 5
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип WebMoney
Логотип Swift
Логотип Visa
Логотип Mastercard
compare Fibo Group trading accounts

FIBO Group is suitable for various types of traders, including beginners and experienced ones. A wide selection of accounts and trading platforms allows every trader to find the right solution.

Advantages of Fibo Group

  • A wide selection of trading and investment accounts.
  • Low spreads, which facilitates more profitable trading.
  • A wide range of payment methods for convenient deposit and withdrawal of funds.
  • Availability of various trading platforms, such as MetaTrader 4, MetaTrader 5, and cTrader.
  • Comprehensive analytics and educational materials for traders of all levels.

Disadvantages of Fibo Group

  • An inactivity fee can be burdensome for traders who do not trade actively.
  • Withdrawal fees can be unpleasant for clients, especially with small amounts.
  • The absence of stocks and ETFs in the range of instruments may limit investment opportunities in these assets.

9. Grand Capital

Логотип Grand Capital
9
4/5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexIndicesETFStocksBondsPrecious MetalsEnergy CarriersAgricultural CommoditiesCryptocurrency
Trading Platforms
MetaTrader 4WebTraderMetaTrader 5
Deposit/withdrawal:
Логотип Perfect Money
Логотип PayRedeem
Логотип Credit and Debit Cards
compare Grand Capital trading accounts

Grand Capital is suitable for both beginners and experienced traders. A wide selection of instruments, bonuses, and education make it attractive for different levels of traders

Advantages of Grand Capital

  • Diversity of account types. Grand Capital offers an extensive selection of account types, allowing clients to choose the most suitable for their trading strategies and preferences.
  • Tight spreads. The broker provides competitive spreads, especially on major currency pairs, making trading more profitable.
  • Markets and products. Grand Capital features a wide range of trading instruments, including Forex, stocks, commodities, indices, and cryptocurrencies.
  • Support. Grand Capital provides multilingual support 7 days a week, 24 hours a day, ensuring prompt assistance to clients with any issues.

Disadvantages of Grand Capital

  • Regulation. Although the company is registered in the Seychelles, it is not regulated by leading financial regulators such as the FCA in the UK or ASIC in Australia, which may raise certain concerns among clients.
  • High fees. In addition to spreads, Grand Capital has other fees, such as the overnight position rollover fee (swap), which can increase the overall cost of trading.
  • Lack of MetaTrader alternatives. While MetaTrader 4 and MetaTrader 5 are widely used and recognized by traders, some clients may look for brokers offering alternative platforms, such as cTrader or proprietary developments.

9. LiteFinance

Логотип LiteFinance
10
4/5
Register80% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Regulators:
Trading Assets
ForexCommoditiesStocksIndices
Trading Platforms
MetaTrader 4MetaTrader 5
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип Perfect Money
Логотип AdvCash
Логотип Bank Transfer
Логотип Swift
Логотип Credit and Debit Cards
compare LiteFinance trading accounts

LiteFinance is ideally suited for beginner traders, thanks to training and demo accounts. Experienced traders may appreciate the analytics but face platform and asset selection limitations.

Advantages of LiteFinance

  • Analytical materials. LiteFinance provides a variety of analytical tools, such as an economic calendar, daily forecasts, analytics from Claws&Horns, etc.
  • Educational materials. LiteFinance offers extensive educational materials to help traders develop their skills and knowledge.
  • 24/5 technical support. The support service is available 24/5, ready to assist clients with any questions and issues.

Disadvantages of LiteFinance

  • Limited choice of trading platforms. LiteFinance offers only MetaTrader 4 and MetaTrader 5 platforms, which may be insufficient for experienced traders who prefer to use alternative platforms.
  • High commissions. Compared to other brokers, LiteFinance's commissions are somewhat inflated.
  • Lack of certain trading assets. The broker does not offer trading in cryptocurrencies and soft commodities, which may be a disadvantage for traders interested in these markets.

How Was the List of Top Forex Brokers with Cent Accounts Compiled?

The compilation of the best Forex brokers offering cent accounts (micro accounts) was conducted considering the specific needs of traders aiming to minimize risks. We followed these criteria for selecting brokers:

  1. Inclusion of Brokers Offering Cent Accounts: Only those brokers that provide the option to open cent accounts were included in the list. This allows traders to trade with smaller volumes and significantly reduce financial risks, which is particularly important for beginners and cautious investors.

  2. Ranking Based on Our Forex Brokers Rating: Brokers were ranked according to our Forex brokers rating. This rating is based on an objective and comprehensive analysis of crucial broker characteristics, including their reliability, quality of transaction execution, and level of customer support.

  3. Evaluation Based on Our Methodology: Each broker was assessed according to our methodology, which includes a detailed analysis of various aspects of their operations. We aimed to provide up-to-date and accurate information to assist traders in choosing the most suitable broker.

Our list of the best Forex brokers with cent accounts is designed to facilitate the selection of a broker that offers specialized services with minimal risks and enjoys trust among traders.

How to Choose a Forex Broker with Cent Accounts?

Our rating of Forex brokers with cent accounts is designed to ease the challenging task of choosing a trading account. Regardless of whether you select a broker from our rating or search further, here are the key factors you should consider when selecting an optimal Forex broker with a cent account:

  1. Broker Reliability: Pay attention to the reputation and age of the Forex brokers. Please read what is written about these brokers on forums and their reviews. As a rule, a company with a good reputation has been in the Forex market for over 10 years, and mostly positive reviews can be found online.

  2. Commissions: Compare the trading commissions and spreads of the Forex brokers in the cent account rating. The lower the commissions and spread of the trading account, the more profitable the trading.

  3. Leverage: Calculate the level of risk with which you will be comfortable and profitable trading. The higher the leverage, the higher your account's risk and potential profit.

  4. Trading Assets: Check if the broker's cent account allows trading the assets you are interested in. Many Forex brokers on cent accounts offer only currency pairs and metals for trading.

  5. Trading Platform: Ensure the Forex broker offers the trading platform you want to trade on. Usually, only one trading platform is available when choosing a cent account.

  6. Deposit and Withdrawal Methods: Verify if the Forex broker offers the method you prefer to withdraw funds.

  7. Customer Support: In case of unforeseen situations, check if the broker has a convenient communication channel.

How to Work with Cent Accounts?

Forex brokers offer cent accounts so traders of all levels can make transactions for smaller amounts than standard account holders. The idea is that the trader's account balance is displayed in cents.

For example, if you deposit $20 into your cent account with a particular broker, the amount will be shown as 2,000 cents. This means that for any trade with EUR/USD at a volume level of 0.1 lots, 10,000 cents or just over $100 is required without using leverage.

Cent accounts are an excellent way to get acquainted with trading, as potential losses and profits per trade can be significantly lower. For instance, using a standard lot size of 0.1 on a cent account, one point equals 1 cent - thus, even small price changes can lead to real gains or losses of 20 cents! This is 100 times less than on a standard account, where the same movement would lead to a profit/loss of $20.

Advantages of Cent Accounts

  1. Micro accounts for Forex trading offer an experience with real funds that demo accounts cannot provide. You risk a small but definite amount of money on a cent account. Demo accounts do not let you feel the risk of loss in the financial market.

  2. Learning the market or testing strategies can be intimidating, especially involving money. Micro accounts allow easy learning of trading with minimal risk and an affordable deposit amount. Trades start from just 0.01 cents!

  3. This account type is primarily intended for beginner traders, but even experienced professionals can find them helpful in testing new strategies without large investments at stake.

Who are Cent Accounts Suitable For?

For traders wishing to get accustomed, refine their skills, or dive into currency trading without risk, cent accounts are an excellent option.

Forex brokers with cent accounts provide registered clients with all the necessary tools for real-time trading without significant financial risks. Both self-doubting beginners and experienced professionals can use this exciting opportunity to broaden their horizons in currency market trading.

Conclusion

In conclusion, a cent account is an attractive option for those who want to start trading in the Forex market. It allows you to practice your trading strategies and use low minimum deposits and helps you gain experience without risking too much capital. Overall, registering with a reliable broker offering a cent account can help anyone begin their journey to success in the Forex market.

Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.