The FBS cent account is ideal for those who want to start trading with low risk and a small investment. This account offers significant benefits for novice traders.
The cent account is an account where the trading balance is measured in cents, not US dollars. For example, if you deposit $10 into a cent account, it will be converted to 1,000 cents. Similarly, the profits and losses you experience on the trading platform are also in cents.
Trading lots in the cent account are also smaller. 1 lot in the cent account equals 0.01 standard lot, which means you can trade as small as 0.0001 standard lot. By trading in smaller lots, you can reduce the potential risk.
Therefore, the cent account is often the choice of beginner traders who are just learning. Cent accounts are also very attractive to professional traders who want to experiment with new strategies.
FBS broker is one of the world-renowned forex brokers that offer cent accounts. You just need to click the banner here to register. But what are the advantages of FBS cent accounts over other brokers? Let's check the specifications first, shall we?
Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.
FBS is regulated by FSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.
Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.
FBS spread begins from 0.5 pips for Pro account type and from 0.7 pips for Standard and Cent accounts. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.
Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading instruments: 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs.
Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.
FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.
MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.
Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of FSCing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.
Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.
Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.
Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.
In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.
FBS Cent Account Specifications
Here are the specifications of the FBS cent account that you need to know:
| Minimum deposit | starting from $3, depending on the deposit method you choose. For example, if you deposit via e-wallet, the minimum is $3, but if through bank transfer, it's $12. |
| Minimum withdrawal | starting from $2, this also depends on the withdrawal method you choose. |
| 💸 Commission | $0 |
| ⚖ Leverage | up to 1:1000 |
| 🕋 Swap free account | available |
| 💻 Platforms | MetaTrader 4, MetaTrader 5 |
| 💲 Account currency | USD and EUR |
The Benefits of Trading with FBS Cent Accounts
There are many advantages you can get from trading on FBS cent account. What are they? Here's a summary.
- FBS cent accounts offer traders the opportunity to enter the market with minimal risk. Since account balances, profits, and losses are measured in cents, rather than larger currency units like dollars or euros, beginner traders can minimize exposure to potential losses while learning the ropes.
- For professional traders, FBS cent accounts are highly useful for testing trading strategies in a live trading environment.
- FBS cent accounts typically demand a smaller initial deposit compared to standard accounts. This accessibility makes them an attractive option for a diverse range of traders, including those with limited capital, providing an entry point into the market without requiring substantial investment.
- Trading with smaller sums of money in cent accounts can alleviate the psychological pressure and emotional stress often associated with trading larger amounts. This fosters better decision-making and trading discipline, crucial for traders at all levels to navigate the market effectively.
- Traders can enjoy high leverage features of up to 1:1000 on FBS cent accounts, allowing for flexible trading.
- Islamic account or swap-free options are available on FBS cent accounts. For traders of other faiths, swap-free options can be utilized to save on expenses.
How to Open an FBS Cent Account
Registering for an FBS cent account is quick and effortless. Just click the banner located below the Account Specifications before, and you'll be promptly redirected to the FBS cent account registration page.
Next, follow these steps for registration:
- Enter your email and full name. Once done, click on "Register as Trader".
- You will then be asked to create a new password. Make sure your new password meets the specified criteria.
- Open a new tab and log in to the email you used for registration earlier. Look for the inbox from FBS as shown below. Click on "Confirm Email" to verify.
- The screen will display as shown below if your verification in FBS is successful. Next, click the "Proceed" button.
- Then, you will be directed to set up your new cent account.
- These are some things you need to set up: trading platform, account currency, swap-free, fixed rate, and leverage. Choose the options you want for the trading platform and account currency. If you prefer your account to be in swap-free mode, click on the button. You can also check the fixed rate box if desired. Leverage options range from 1:1 to 1:1000. Once you've made your selections and are confident, click the "Open Account" button.
- The account creation process is complete when your screen looks like this. Save this registration information or take a screenshot. Next, click on "Deposit Funds" to fund your account.
- Note that the available deposit methods correspond to your current location. If an option is grayed out, it means that the method is not available. The minimum deposit for each option may vary according to the payment system rules.
Below are examples of FBS deposit methods in Indonesia.
If you notice, the deposit amount has been adjusted according to your country's currency. So, if you reside in a country that does not use USD, you don't need to worry about converting the amount to your currency. - If the deposit is successful, then the entire registration process for your FBS cent account is complete. Next, you can go to the "Dashboard" menu, and then click on "Trade". There will be a selection of trading platforms, choose one that you want to use.
- Enter the login information for the platform as listed in the "Dashboard".
- After that, you can start trading and generate as much profit as possible.
Concerning depositing funds into your cent account, there's no need for prior verification. However, you can complete your documentation through the "Dashboard" menu.
Apart from deposits, you can also fund your FBS cent account through internal transfers. This means if you have other FBS accounts, you can easily transfer funds from those accounts to your cent account.
All your transactions, be they deposits, internal transfers, or withdrawals, are meticulously recorded in the "Finances" menu under "Transaction History". Here, you'll find comprehensive details regarding every transaction, including the date, time, amount, payment options, transaction status, and more.
Explore the world of forex trading with FBS!
Things to Consider When Trading on FBS Cent Accounts
While there are many advantages to trading on FBS cent account, there are several things you should not overlook. Some of them are as follows:
- The amount of profit you can earn may not be significant because it is calculated in cents.
- Less suitable for experienced traders to gain profits.
- The spread on cent accounts is slightly higher than standard accounts to compensate the broker. For comparison, the table below shows the spread between Cent and Standard FBS accounts for several major pairs.
Spread🔢 FBS Standard Account💲 FBS Cent Account EUR/USD from 0.9 pips from 1.4 pips GBP/USD from 0.1 pips from 1.6 pips AUD/USD from 1.5 pips from 1.7 pips USD/JPY from 1.1 pips from 1.4 pips USD/CHF from 1 pips from 1.5 pips - FBS cent accounts limit trading instruments to only 20 forex pairs: AUD/USD, EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, GBP/AUD, and GBP/CAD.
- Cent accounts at forex brokers are quite rare to find, coupled with all information related to FBS cent accounts being withdrawn from the official FBS broker website itself.
Bottom Line
Trading on FBS cent accounts is highly recommended, especially for beginner traders, as it allows you to experience real trading with minimal risk. Seeing the balance amount of $1 converted into 100 cents can make you feel like you're trading on a regular account.
However, the profit you can earn from a cent account is relatively small. A cent account is only suitable for testing strategies if you're a professional trader looking to make substantial profits.
Nonetheless, FBS cent accounts have many advantages, such as high leverage, no commission, low deposits, and Islamic account options. This can help you increase your profit opportunities.
Come join the fun and excitement at FBS!
FAQs
FBS Cent Account is a type of trading account offered by FBS with currency denominations in cents. It allows traders to trade with smaller position sizes, suitable for beginners or traders with limited capital.
2. Why can't I register for a cent account on the FBS website?
FBS cent accounts can only be opened through links from FBS Partners or IB (Introducing Broker). So, you cannot open an account on your own through the website. All information and account specifications have also been removed from the website.
3. How can I register for an FBS cent account without going through the website?
You can simply click here and register directly. Or, just click the banner below.
4. Are there initial capital requirements for FBS cent account?
Yes, there are, but they vary depending on the deposit method you choose. For example, if you deposit via e-wallet, you only need a minimum of $3, but a minimum of $12 is required if you use bank transfer. The amounts are also adjusted according to your country's location, so they may not be displayed in US dollars.
5. Is FBS cent account available for all trading instruments?
No, the FBS cent account only offers 20 forex pairs: AUD/USD, EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, GBP/AUD, and GBP/CAD.
6. How do I activate the swap-free mode on the FBS cent account?
You can activate the swap-free mode when setting up the cent account for the first time. After the FBS cent account is set up, you can still change it in the "Account Info" under "Dashboard" menu.
FBS is a worldwide broker with a presence in more than 150 countries. More than 23 million traders and over 400k partners have chosen FBS as their preferred forex brokerage company. To provide the best customer experience, FBS organizes seminars and special events.