Standard Account Vs Cent Account: What’s Best For You?

As you consider opening a trading account, you should evaluate yourself and determine what factors are important to you based on your trading style, experience level, and starting capital. Both cent accounts and standard accounts have their own unique benefits, but you need to choose the one that is most suitable for you and your trade needs.

Before choosing the best trading account for you, ask yourself these questions:

  • How much do I wish to deposit?
  • How much risk am I willing to take?
  • Would I benefit from advanced trading tools?

Here’s the answer to your question!

A Cent account is worth your money if you are just starting out and don’t have much forex trading experience. It only takes a small amount of money to open a Cent account and begin trading with real money. Although the profit won’t be spectacular and will probably add very little to your overall balance, it is still better than trading in a demo account. Furthermore, the low-risk environment makes it easy to try different strategies, assess the quality of the trading broker, and improve your trading skills.

On the other hand, a Standard account is best for you if you are an experienced trader with established trading strategies and are confident in opening positions with the standard lot size. When you have a good strategy and enough capital, you can target higher returns and enjoy trading different instruments using a Standard account.

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Cent account is a serious alternative to a demo account. You can start with $50 on a cent account and still be able to make a couple of trades. I think no deposit bonus is still a good option to practice on a live account. Like the $100 given by Forexchief to newbies for free. I encourage every new trader to use a live account for practice. You don’t need to spend much to do that.