Although the cent account of FXTM is not the first leading cent account in the world, but it is nothing to loose to be tried. What are the advantages of using cent account?
A brother broker of Alpari, Forex Time or FXTM, yesterday (08/26) had just released a new feature for its clients: cent account. Cent account is a type of account which converted the money in Dollar into cent parameters. This Cyprus-based broker created cent account to attract some new traders to choose FXTM as their trusted broker. Although the cent account of FXTM is not the first leading cent account in the world, but it is nothing to loose to be tried. What are the advantages of using cent account?
Firstly, as it was stated before, cent account means your dollar is converted in to cent. By this account, your $100 deposit will be displayed as 10,000. This sounds interesting for whom capital-demanding trader, because they can examine their strategy to by the "real" numbers but actually it is not that real. Besides the capital-demanding trader, this account is fit for the newbies trader. The newbie can learn trading with the real number, but when they lost, it might not be too frustrating.
Secondly, there is no minimum size required by this account. Therefore, you may trade with micro-lot (0.01) from the standard lot. The leverage of FXTM cent account is so howling, it is 1:1000. Minimum deposit and high leverage, what a trade! That combination is expected to raise the prestige of FXTM and of course, to gain more clients even the clients probably are not a rich trader.
For your reference, FXTM actually is not the only one broker in the world which offers cent account. FXTM still has to make an extra struggle because the most popular cent account currently is from Forex4You with its feature cent NDD. Cent NDD minimum deposit is $1 only, faster execution, and micro lot trading. Another is from RoboForex with FixCent. FixCent account has no commission, no minimum deposit, and instant execution. In conclusion, it is better for you to make some observation before choosing some features and register with FXTM.