For starters in the forex market, it is very difficult to learn everything in a short time. In my opinion, the best way to gain some experience in trading is trying out in real life, with your real money. Some may argue that since most brokers have demo accounts, why not try that? In my opinion, practicing trading with demo accounts is a bad idea. Most brokers want you to win in demo, so that you’ll become too confident, which leads to your loss in the future. You should practice with real money, real account, and real risk. Fortunately, Exness provide you with a type of account that can be applied in this situation, Cent account. Like the demo account, it has low spread, low volatility, good execution, and good prices.
Cent account is highly recommended to beginners because it is a real account. Trading with it gives you the chance to know the feeling of trading in real-life conditions: real spread, prices, volatility, slippage… That is the best place to try out as a new trader. Trading in real conditions helps you understand the risk of forex trading. Using demo accounts sometimes makes you forget about risk management, which easily leads to losing all your money in a blink of an eye in the future.
Cent account is greatly suitable for inexperienced traders since they trade only US cents. You only have to deposit only $1 to start. If you deposit $10, you will have 1000 USC in your Cent account. With this amount of money, you can open up to hundreds of orders to practice trading. Thanks to Exness’ instant withdrawal, you can withdraw your funds or profit in an instance. Of course for new traders, the chance of losing all your money is very high. However, think of how much you could learn with just $10. Real money makes you more cautious and careful.
Why Exness Cent account is the best choice?
Most brokers don’t offer accounts as small as Cent account but some smaller brokers do. However, I don’t recommend small brokers because obviously they are not as reliable and good as big brokers. Exness is a whole different story. They are one of the biggest forex broker in the world with monthly trading volume up to 300 billion, yet they still offer Cent account. Here are 5 reasons why you should practice trading with Exness Cent account:
- First of all, you can trust Exness. Of course, beginning traders are not the target client of Exness, so they’ll narrow down the number of orders you can open. Nonetheless, you can still practice for one or two months there with best trading conditions. Exness is the most reliable retail forex broker. They value transparency so they put all their information on the website (you can check it here). They are audited by Deloitte, the biggest and most popular accounting company in the world, so you can rest assured that the information you read is 100% accurate.
- Almost all beginners in forex trading don’t want to spend too much money on practicing. As mentioned above, Exness require as little as 1 USD to open a Cent account. Therefore, it is very suitable for new traders who just want to practice trading. Moreover, Exness allow you to open positions at only 0.01 cent, which is 0.0001 dollar. In the forex market, this is the lowest value that you can’t find anywhere else. Why is it better to have lower value? Research shows that over 90% of beginners will lose all their money when they start trading. Therefore, you need to practice as much as possible. With such low order value like this, you can practice trading up to three months with only 10 USD.
- Cent account at Exness has the highest leverage in this market, even up to unlimited. If the leverage is high, you pay less for the margin. Accordingly, you can keep your orders longer with less margin.
- As I said before, Exness’ instant withdrawal service allow you to deposit, withdraw, and transfer money to Cent account by a variety of methods instantly. I find it super easy and convenient, and for beginners, the easier the better.
- Finally, I find Exness’ customer service very impressive. Unlike other big brokers, who only support clients in English, Exness care is available in different languages according to where their clients are from. Trading in the forex market is pretty difficult. Imagine how easier it will be when all your questions are answered and explained in your mother tongue. Check Exness customer support here.