Forex brokerage house JustForex said on Tuesday it has expanded its offering with a new type of trading account – Cent Account.
Traders can open a cent account and start trading as little as 0.01 cent lots. Cent account users are offered spreads starting from 1 pip, and leverage of up to 2,000:1. Contracts are closed on market execution mode and verification for opening an account is not required.
Cent accounts, also referred to as micro accounts, are handled the same way as any other account type with the exception that all their financial parameters, including deposits, profits and losses, are measured in cents. This type of account is suitable for novice traders or traders who want to test new strategies in live trading.
The broker markets cent accounts as a way to explore its conditions and test trading strategies in live conditions.
“You are trading on the same conditions and with the same tools as in the standard types of accounts, so you can fully appreciate the quality of our services,” JustForex said in a statement.
“Unlike the demo accounts, trading on cent ones is carried out with real money, and you get the right psychological training. At the same time, your investments are minimal: the sum for orders opening is 100 times smaller than in standard accounts,” it added.
According to the broker, cent accounts can help traders achieve the following:
- test its trading conditions
- improve your trading system
- master the skills of risk and capital management
- assess the quality of order execution
- check the operation of the indicators and advisors.
In addition to Cent Accounts, JustForex offers Classic, NDD, ECN, and BitCoin Accounts, also with market execution.
JustForex is a brand of IPCTrade Inc., which is licensed by the International Financial Services Commission (IFSC) of Belize. The broker offers trading in forex and commodity-based derivative instruments.