According to a research, approximately more than 90% beginners failed when they first started trading due to the complicating nature of forex market. This explains why most beginners are recommended to start with a forex demo account for a few months before officially investing their money in the trading market. From my perspective, as logically as this method may sound, I would not say it is the best practice. Based on some prominent researches, it is stated that traders who are successful with demo account have the tendency of losing more with real accounts. The ugly truth is that brokers want beginners to win with demo account and lure them with attractive trading conditions such as lower spread, lower volatility, better execution and prices, etc. Newcomers who are winning with demo account will therefore become over confident and believe that they would experience no problems with the real account. Little do they know, real accounts are nowhere near as easy as demo ones and they would have to spend another few months getting used to trading by real accounts. In other words, traders who go through the same mistakes will waste more time practicing due to the wrong approaching method.
As you can see, starting your career with the right approach is utterly important, and I would highly recommend you to use real trading accounts from the beginning. In this category, Cen account would be the best trading account for beginners because:
– Cent account is a real account that provides you with real trading conditions including real spread, real prices, real volatility, slippages, etc. In short, winning with Cent account means that you can win with other account types too.
– Trading by Cent account build up your discipline since following risk management is strictly recommended or else you might lose all of your fund almost instantly.
– Cent account is the best account for beginners since they have to trade with Cent Dollars. To explain, traders can deposit 10$ and receive 1000 USC in their account. And with 1000 USC, they can open hundreds of orders for practicing purpose. Not to mention, since it is a real account, traders can withdraw money and profit whenever they want.
Provided that they might lose all of their 10$ deposit yet it is only 10$, which is worth for a full month of practicing. This low-budget practicing style provide newcomers with real trading conditions and motivate them to study harder since it is real money they are trading with.
Why Exness Cent account is the best for forex trading beginners?
Evidently, it is a fact that large forex brokers do not offer Cent accounts. Nevertheless, I would not advise you to trade with small brokers either since large brokers offer better trading conditions. But Exness is a different story. They are one of the biggest retail forex brokers in the field and remains exclusive for offering Cent account.
Please note that, Exness reports are audited by Deloitte, which is a well-known independent audit company. Therefore these reports are completely trustworthy.
Since beginners are not the target audiences of Exness, they limit the number of practicing orders down to 1 – 2 month with the best brokers and best trading conditions. These are the reasons why Exness’ Cent account is the best for you:
– First of all, Exness is the biggest retail forex broker with the best reputation in the field.
– Secondly, Exness Cent account does not require a minimum deposit rate, which means that you can deposit as little as $1 or however you want. This is an important feature since most beginners would avoid depositing too much when they start.
– Thirdly, traders can open positions at an extremely low rate such as 0.01 Cent or 0.0001$. This is the lowest minimum position value in the market. Low value is very beneficial for beginners since there is a 90% chance that they might lose during their first months of trading. The purpose of this stage is still practicing solely, therefore the lower the order’s value is, the more orders beginners can practice. With this low minimum of order value, a trader can practice from 1 – 3 months with $10 only.
– Fourthly, Exness Cent account offers the highest leverage which leads to lower margin. Therefore, traders will have more free margins to keep their orders open.
– Fifthly, you can deposit or withdraw from Cent account by local payment methods or banks almost instantly. This is a very easy and convenient feature for beginners.
– Finally, Exness provides support with local languages, which is very important for beginners. Forex trading is a complex market so most traders, even professional ones, might have a lot of questions at times that only local language speaking supporters can help them. Exness supports many countries in their local languages such as: China, Thailand, Vietnam, Malaysia, Saudi Arab, Iran, and English-speaking countries… which enhances their support service quality.
How to open Exness Cent account?
To open Cent account, you just need to provide an email and a phone number. The registration process is easy and takes up to one minute to complete only.
