Why using Cents account in Robot trading
Cents account is the best for EA trading and even for new traders who wanted to learn in Forex due to its low risk while practicing live trading and testing out Robot EA in live trading. And you can deposit with very low amount with higher equity appear in your account.
With cents account, your deposit will be multiply to 100 X (times) value appear in your Balance. If you plan to use an EA using Demo account to try, it could be better to use cents account value in your demo account.
Ex. You have plan to deposit $1000, it will appear in your balance as $100,000 cents value. (use this value in your demo account).
This means that every lot size you trade, the value will be multiply by 0.01 in which very low risk compare to standard account.
Ex. You have enter the market with 0.01 cents lot, it will be 0.01 X 0.01 = 0.0001 standard lot size. It will be value in real dollar of 0.0001 dollar per pips movement.
This will be very good start if you using an EA with calculated martingale in which our EA in Forexpipsplus are mainly using this strategy to beat the market with calculated risk on up’s and down, ranging or one sided trend market.
Brokers Offering Cents account
There are lots of brokers in the market which offers cents account. If you google it, google will give’s you lot of option to choose which different brokers has its own terms and condition.
This below brokers are proven that our EA able to use and run smoothly.
Forex4you is a brand of a major financial holding company E-Global Trade & Finance Group, Inc. It was registered in the British Virgin Islands in 2007.
The company specializes in providing online Forex brokerage services.
Forex4you has offices in many countries of Europe and Asia, and its commercial interests are focused on these regions.
In spite of being quite young, the company has already managed to take hold among the leading international brokers. It has over 70 000 customers all around the world, including individual traders and investors, large commercial organizations, different investment and hedge funds.
Its annual trading volume exceeds $100 billion USD.
More company Details… Click here
- Reputation, high liquidity and reliability;
- Accurate and timely deposit and withdrawal procedures;
- Wide choice of trading instruments and technologies.
Deposit and withdrawal
- Neteller, Skrill (Moneybookers), WebMoney;
- Bank transfer;
- Visa, Master Card credit cards.
Trading Accounts Types
- STP Forex;
- BBO Bridge;
- Slippage Control;
- One Click Trading & Market Depth;
- Forex VPS.
All accounts types have the following in common:
- Trading instruments. 53 currency pairs, 18 of which are exotic;
- Five-digit foreign exchange quotations;
- Automatic trading option.
- Currency pairs – 1:500;
- Precious metals -1:500;
- CFD1 – 1:10;
- Stocks – 1:10;
- Futures – 1:10
The funds can be deposited in the following currencies for any type of accounts:
- USD – US Dollar;
- GBP – British Pound;
- EUR – Euro;
- JPY – Japanese Yen;
- AUD – Australian Dollar.
- Credit card Deposit will be lock 50% with in 1 month.
2. Bonus will be able to retain only with in 3 months. After 3 months Bonus will be taken back.
It will be difficult for beginner traders to go deep into all the details of trading conditions offered by the company.
Forex4you is a reliable, stable broker. Multi functional is the best description for the company. No others offer such variety of services and technologies (trade, banking and hedge ones).
The quality of services is also high. Trade orders are executed with German punctiliousness and Swiss precision.
But the broker is remarkable for its complexity. Information is given with a focus on experienced traders. There are plenty of terms and slang even in the support team responses.
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Average Spreads (& Commission)|
|Cent||$1||0.01 lot||1:1000||2 pips|
|Micro||$5||0.01 lot||1:3000||3 pips, fixed|
|Standard||$100||0.01 lot||1:3000||0.9 pips|
|Zero Spread||$500||0.01 lot||1:3000||0 pips, fixed + $20/lot|
|Unlimited||$500||0.1 lot||1:500||1.1 pips|
|ECN||$1000||0.1 lot||1:500||form -1 pip + $6/lot|
While most brokers provide several account type options, Clients of FBS are offered a choice of six. All of them offer market execution and the chance to trade in micro lots in Cent account for easier risk management. Besides, FBS’s clients may choose between fixed and variable spreads, commission-free trading and zero spread plus commission.
In addition, FBS provides swap-free (Islamic) accounts as well as VIP Services. STP/ECN environment is also available with this broker.
The service that we like the most about FBS is the deposit insurance (available for Cent, Micro, Standard account types), which helps you to insure between 10% and 100% of your deposit – as long as you have traded a certain number of lots, the broker pays you back the insured amount in case you lose it. This way you can stop worrying about your investment, and can focus on making some dough instead.
Keep in mind that this broker does not provide financial services to residents of Belize, the USA, Russia and Japan.
The Company. Security of Funds
FBS Markets Inc.
Established back in 2009, FBS is now a popular international broker which has won numerous awards. It offers its clients competitive trading conditions, wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions.
Behind the brand is FBS Markets Inc., a company licensed and regulated by the International Financial Services Commission of Belize (IFSC).IFSC has very liberal control over forex brokers, but still, the regime in Belize is far better than those in other offshore jurisdictions.
In 2017 FBS, undertook an important step and got licensed in one of the most popular destinations for forex brokers – Cyprus. Its EU entity Tradestone Limited operates under the regulatory oversight of the Cyprus Securities and Exchange Commission, a.k.a. CySEC.
Forex brokers licensed by CySEC must comply with a number of requirements regarding capital adequacy, transaction reporting, clients’ funds segregation, AML policies, etc. Besides, all licensed entities are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.
Furthermore, under the MiFID regulations every CySEC-regulated ibroker is entitled to operate throughout the EU and the EEA.
Minimum Initial Deposit
One may open an account with FBS with just $1 – a symbolically low initial amount. In comparison, FX Choice (which also holds a license from IFSC) requires at least $100 as a minimum for opening an account, but it offers pure STP/ECN environment.
Average spreads & Commissions
According to us, the best spreads of FBS are offered on the ECN and Unlimited account types. Spreads on ECN account start from -1 pip (negative spread) and the commission is just $6 per lot.
In comparison, Fx Choice offers typical spreads amounting to 0.5 pips on EUR/USD, and commission of $3.86 per lot applies. For further information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage levels available with this broker are among the highest in the industry, reaching 1:3000. While this may sound attractive, especially to traders on a small budget, since it allows them to operate with significantly higher amounts, keep in mind that higher leverage involves greater risk.
We advise traders to exercise caution when using higher leverage levels, in this case – to benefit from the deposit insurance option, provided by FBS.
FBS provides its clients with a choice of two trading platforms: Metatradeer 4 (MT4) and MetaTrader 5 (MT5). Both platforms are offered as desktop, web and mobile versions.
MetaTrader 4 is the most popular forex trading platform. Equipped wirth a number of technical indicators, advanced charting tools, extensive back-testing environment, and a wide range of Expert Advisors (EA), it is preferred by most traders. allowing clients to fully automate their trades. MT4 comes in desktop, and mobile versions.
As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor. Recently, however, a number of enhancements were made to the MetaTrader 5 and the hedging option was finally added to it and it gains popularity. What is more, Russian developer MetaQuotes announced it will no longer issue updates to the MT4 and will instead concentrate on the MT5.
More brokers using the MT5 can be viewed here.
FBS runs a variety of promotions. At the time of writing this review the following bonuses are available:
– 100% bonus for deposit;
– Welcome bonus $123 for 7 days;
On the first day of each month, you will be able to withdraw as much profit received on the bonus funds as many lots you have traded within the previous month x3.
-Cashback program, allowing traders to receive up to $15 per lot.
Methods of Payment
FBS offers its clients a wide range of payment methods: credit cards (Visa, Visa Electron, Mastercard), bank wire, Skrill, Neteller, WebMoney, Perfect Money, OKPAY, YuuPay, LaoForexBoard, FBS Asia Exchanger, Zaw Forex Service.
FBS appears to be a decent broker, who has operated for more than 8 years and has won many awards. It offers reasonable conditions for trading in a variety of products through different platforms. Here are, in a nutshell, the advantages and disadvantages of FBS:
|Variety of platforms, MT4 available||No significant disadvantages|
|Competitive spreads (on ECN & Unlimited accounts)|
|Low minimum deposits required|
|Variety of promotions|
|ECN/STP environment available|
InstaForex is a Russian ECN-broker operating on the Forex exchange market since 2007. InstaForex boasts more than 2 million traders from around the world with close to 1,000 clients opening new trading accounts every day.
Their achievements are recognized by many awards and honors including The Best Broker in Asia at the prestigious World Finance Awards for several years in a row and they received multiple awards from other leading mass media, such as the CNBC Business Magazine and the European CEO (The Best Retail Broker Award). Their work has been marked at international financial events such as ShowFX World, ShowFX Asia, CIOT EXPO, and Jordan EXPO exhibitions.
The accounts at InstaForex are divided up into different categories.
Insta.Standard accounts work for all types of traders and allow a trade to be settled with classical spread and with no fees. The features of the account allow trading with the Micro Forex where the minimum deposit is $1-10; the Mini Forex with a minimum deposit of $100, and the Standard Forex where a minimum deposit of $1000 is required. The main advantage of this type of account is its universality, as it allows traders to choose a deposit size that is convenient for them and afford them the opportunity to change the trading leverage. Traders pay a spread for these accounts.
Insta.Eurica trading accounts don’t have a spread. This account type is recommended for novices as orders are executed right when the price reaches its value if the spread equals to 0. In addition, the Insta.Eurica accounts allow the inexperienced trader to learn the market by using a simpler system of trading.
This account type can be also used by professional traders, because its trade characteristics are the same as of Insta.Standard account type.
The Cent.Standard and Cent.Eurica trading accounts were developed for beginning traders because they require minimal possible trade volume. This type of account suits those who want to test trading strategies with minimal risks using the trade advantage of 0.0001 lots.
Cent.Standard and Cent.Eurica account holders have the same trading terms as Insta.Standard and Insta.Eurica. The only difference is the amount of deposit required.
A comparison chart helps traders understand the different accounts more clearly.
I was pleased to see when doing this InstaForex review that there is a demo account available for traders who are still hesitant about their trading skills. Traders can open a fully functional demo account using the MetaTrader 4 platform which offers its services on 107 currency instruments, 34 U.S. stocks CFDs, futures CFDs, trades on gold and silver, and many others.
An explanatory video is available but is not very easy to understand the instructions given the heavy accent of the speaker.
Account holders can enter the InstaForex Client Cabinet where they can read about financial matters as well as news and events and security information.
The daily updated section of market analysis is prepared by the professional analysts of InstaForex Company. They also provide market signals that analyze and forecast price fluctuations. Each signal provides summary information, calculation formulas, and tips for practical use. The indicators are available to be downloaded and set up in MetaTrader 4 platform.
InstaForex has its own forum for account holders as well as humorous articles and blogs and a currency calculator.
InstaForex PAMM system gives traders an opportunity to invest in Forex projects. Every customer of InstaForex Company can accept investments from other traders or invest funds in PAMM accounts and become a shareholder of this account.
And the ForexCopy system by InstaForex is an innovative service enabling traders to follow successful Forex traders and copy their trades online on a set ratio.
Instaforex Bonus System
Last, but not least, check out now the currently available special offers at Instaforex broker:
- affiliate programs for traders, who have gained enough experience.
- Instagram bonus of $ 20 in cash
- welcome bonus for all newcomers of 250% from the first deposit
- club bonus from the international broker organization of up to 10% discount for your practice
- no deposit bonus of $ 100 after making an official registration on the page
- 55% on each next deposit you make on the site
Great bonuses and even greater facilities for trading are the strongest advantages of Instaforex broker.