Is it advisable to trade on a micro or cent account?

When I see remarks like this I cringe. For me personally while a profit of 100% on US$20.00 is fine I dont see it in the same light as 100% on US$20k. It is like people trying to tell me that a dollar is a dollar no matter where you are but at the same time one US dollar is worth J$155. When I ask them to give me US$1k for my J$1k they have no reply.

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glad i’m not the only one (i think i quite often am, when i see things in this forum that make me cringe)! :laughing:

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Cent accounts are a good way to start trading because they let you practice with real money, but in smaller amounts. It’s lower risk, helps you gain experience, and develop your trading skills without risking too much cash upfront.

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Trade on a micro cent if you want to avoid taking risk on small capital. Otherwise you can use standard lot size.

Using demo account and micro accounts can lead to a great and profitable start of trading.

Use micro account provided that you want to limit your trading risk. Especially if traders have small trading capital, they should rely on micro account.

Thanks @bobart for the explanation.

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Which broker do you use?

As always, thanks for the detailed explanation @flamingoproxy. I appreciate it.

How much did you start with?

It’s only for practicing. I just want to have a little experience trading live without having too much exposure.

I agree. At this stage I’m not even looking at earning so much since I’m still learning.

Exactly this. Do you think there are any cons in trading a cent or micro account?

Traders who have capital below $100 should trade with micro cent otherwise standard account is perfect so far I think.

I work with multiple brokers and check all their features. But I don’t know whether I can bring the name of the broker and the brokers that I prefer.

Using a micro account in forex trading can be a sensible step, especially if you find cent accounts too limiting.

Micro account using is advisable when traders need to avoid trading risk and especially when a trader has small trading capital.

for the beginners level i always prefer micro account instead of demo account , because this is real experience that we get from micro account.

I find it a good idea, With a micro account, you’re dealing with real money, even though the amounts are small and it gives you a chance of actual trading conditions, emotions, and the impact of your decisions.

I think the demo accounts are suggested for beginners , they can test all their strategies and after that enter to real account.