BEGINNER’S CHOICE: EXNESS CENT ACCOUNTby Rayhan Ahmed Digital Marketer
Why do beginners need
to know about Exness Cent account? Approximately a percentage of over 90% new
traders fails miserably when they first build up their trading career due to
the complexity of forex market. This explains why beginners are advised to use a
forex demo account for trading a few months before investing real money in the
market. Personally, despite how logical this method may sounds, I do not regard
it as the best strategy. Based on some prominent researches, traders who are
successful with demo account are more likely to lose when they start using real
accounts. As a matter of fact, it is the purpose of brokers to let beginners
win while using demo account and attract them with tempting trading conditions
such as lower spread, lower volatility, better execution and prices, etc. As a
result, newcomers are easier to become over confident after winning with demo
accounts and believe that they will face no problems at all with the real
account. Nevertheless, real accounts are definitely harder than demo ones and
beginners would have to spend more time getting used to real accounts. In
short, traders who used the wrong strategy to approach the forex market must
waste more time getting used to the trading career.
If you are an experienced traders, check here for the top 5 ECN brokers.
As I have stated, choosing the right approaching method from the beginning is very important and I would highly recommend you to start your trading with real accounts. Personally, I believe Cent account will be the best for beginners because:
– Cent account is a real account that offers real trading conditions consisting of real spread, real prices, real volatility, slippages, etc. In short, winning with Cent account means that you can certainly win with other account types.
– Practice trading with Cent account build up your disciplinary since you have to be aware of risk management to avoid losing all of your fund.
– Cent account is remarkable because beginners are able to trade by Cen Dollars. To explain, a 10$ deposit equals to 1000 USC in your account and with 1000 USC, you can open hundreds of orders for practicing purpose. Moreover, traders can perform the withdrawal process whenever they want since with this real account. Even if they lose all of their money - which is 10$ only - it is still worth a full month of practicing. This low-budget practicing strategy provides newcomers a practical experience in the forex market and encourage them to improve since it is real money they are trading with.
Why Exness Cent account is the best for forex trading beginners?
Despite the fact that large forex
brokers do not offer Cent accounts, I would not encourage you to trade with
small brokers either since large brokers offer better trading conditions. But Exness is different. This is one of the
biggest retail forex brokers in the field and is well-known for offering Cent
Keep in mind that Exness reports are audited by Deloitte, which is a reliable independent audit company. Therefore these reports are completely trustworthy.
Since beginners are not the target customers of Exness, they restrict the number of practicing orders down to 1 – 2 month, still with the best brokers and best trading conditions. These are the reasons why I personally believe you should definitely give Exness’ Cent account a try:
– First of all, Exness is the biggest retail forex broker with good reputation in the field.
– Secondly, a minimum deposit rate is not required by Exness Cent account, which means that you can deposit as little as you want. This is a noticeable feature since most beginners avoid depositing too much from the start.
– Thirdly, traders can open positions at a relatively low rate with 0.01 Cent or 0.0001$. Apparently, this is the lowest minimum position value in the market. Low value is beneficial for beginners since most beginners have the tendency of losing when they have just started their career. The main purpose of this stage is still practicing only, therefore the lower the order’s value is, the more orders beginners can practice. With a low minimum of order value, a trader can practice for 1 - 3 months with only $10.
– Fourthly, Exness Cent account offers the highest leverage which results in lower margin. Therefore, traders can keep their orders open with free margins.
– Fifthly, you can deposit or withdraw from Cent account instantly by using local payment methods or banks. This is a very convenient feature for beginners.
– Finally, Exness provides local
languages support, which is very convenient for beginners. Forex trading is a
complex market so most traders will have certain questions every now and then
that only local language speaking supporters can help them. Exness supports
many countries in their local languages such as: China, Thailand, Vietnam,
Malaysia, Saudi Arabia, Iran, and English-speaking countries… which enhances
their support service quality.
Check here for more reliable brokers for Asian traders.
How to open Exness Cent account?
To open Cent account, an email and a phone number is all you need. The registration process is simple and takes up to one minute to complete only.Read more about the best forex brokers currently.
Created on Aug 16th 2018 10:05. Viewed 232 times.