Comparing HF Markets Micro Vs Cent Account

Jonah Hills: The difference between Standard, Micro and Cent accounts is the contract size. For example, if Standard contract size is 1 lot = 100,000, Micro only has 1 lot = 1,000. I think you should understand that there are 3 main accounts in Forex and generally they are:

• standard account
• mini account
• micro account

And there has one more and that is a cent account that brokers sometimes don't offer. For example, about profit and loss when trading with 1 lot = 100,000 in a standard account. 1 pip can mean $10, but you get $1 per pip for mini-accounts and $0.1 per pip for micro-accounts. During that time, you will receive $0.01 in your cent account. Remember! This is 1 lot, but how about 0.1 lot with a standard account? Simply divide the previous value by tenths. So it's all about contract size, dude

Carrie Gallagher: Very interesting. This micro and cent roughly correspond to the contract size. Okay, now I understand but I have one more question. Why do brokers sometimes not offer cent accounts anyway? I mean, is there no problem with the cent account? By the way, HFM only has a cent account, right?

Jonah Hills: I believe this is because cent and micro accounts actually offer almost identical trading conditions. Because trading 0.01 lot on micro account is almost minimal risk and profit for me. If 1 lot = $0.01, then we know we are trading 0.01 lots. You only get $0.0001 profit per pip. It's very small and benefits cents too. That's why some brokers don't offer anything at all. That's right, HFM has a cent account in its trading function.

Messi: I would prefer to open a micro account instead of a cent account. Because the cent account gives little profit and very low risk. As the article says, while trading on the cent account, I noticed that it is almost identical to the demo account. It is better to choose a demo account instead of a cent account. In some cases, you may only get 0.1 cent profit on a trade. I mean, what can you do for that value? And also cent account doesn't really train our trading physiology because there is no pressure. But unlike cent, in micro account you can get max wins that are neither not too big nor not too risky. So if you are new and have no funds, don't waste your time on the cent account. Start with a demo account instead

Alfonso: I completely disagree, with cent account all trading conditions that happened in trading can be truly experienced with you. I mean, I'm fine if the demo account is used to prevent new traders from depositing real money. But did you know, the contagion in that didn't happen. Basically, you trade with no spreads and your virtual currency can start with a high amount, giving you more freedom to trade.

Because of this, many traders will find it very strange when trading with a real account and even a micro account for the first time. However, if you are trading on a Cent account, all the pressure that occurs in live trading will be felt, which helps us to prepare more for micro and standard accounts. 

Michael: Good Idea! yes, you can transfer money using the account you have to another account. I don't know the mechanics of HF Market, but as far as I know, to open a new account you must first deposit the minimum amount. So you need to deposit $200 to activate Zero account and then you can transfer your money from Cent account to Zero account.

So it is very possible to transfer your money, but not possible if you want to deposit with an account below par to open an account. You need $200 to open a zero account, so you need to withdraw $50 for your cent account into your bank after that, deposit $200 

Ellanga: 
In fact, EA Trade can be tested in a demo account. However, since the cent account is also a live account, it has trading conditions such as spreads and leverage. So because of this you can test EA trading and get more accurate results than with a demo account.

Please note that there are no spreads and commissions on the demo account. And without the spread, the EA cannot determine the best move in the latter trade. So, if brokers have offer cent account, most EA traders will use this cent account to test their EA and of course the money that they spend will be not in dollar but in cent.

@Hossain Mahamud: Let me break down to you dude! . The Micro account is in regular currency units like USD, while the Cent account is in cents. Basically, the Cent account allows you to trade with smaller position sizes, which can be great if you want to start small and minimize risk while you're learning the ropes of trading.

Now, both accounts offer similar trading conditions, like access to various financial instruments, competitive spreads, and the option to use leverage. But the Cent account, with its lower minimum deposit and ability to trade with smaller amounts, can be a good fit for beginners who don't want to risk too much capital right away.

But wait, there's more! HF Markets also has other account types, like the Standard and Zero Spread accounts. The Standard account gives you more flexibility in terms of position sizes and usually has lower spreads. On the other hand, the Zero Spread account offers, you guessed it, zero spreads, but charges a commission on trades. This one is more for the advanced traders who need tighter spreads for specific strategies.

@Ratul Hok: When it comes to choosing between a Micro and Cent account as a beginner trader, there are a few important things to consider. First off, think about how much money you have to start with. A Micro account usually requires a higher minimum deposit compared to a Cent account. So, if you don't have a lot of money to invest, a Cent account might be a better option because you can trade with smaller amounts.

Another thing to think about is your risk tolerance. If you prefer to play it safe and take smaller risks, a Cent account is great because you can trade with really small positions. But if you're willing to take on more risk for the chance of bigger profits, a Micro account allows you to trade larger positions. If you're looking to make significant profits, a Micro account might offer more opportunities because you can trade bigger sizes.

As for HF Markets, they have some great features and tools to help beginners. They offer educational resources like webinars and tutorials to teach you the basics of forex trading. You can also use their demo account to practice trading strategies without using real money.

To decide which account type is best for you, think about your available funds, how much risk you're comfortable with, and what you hope to achieve with your trading. It's a good idea to start with smaller positions and gradually increase your trading as you gain experience and confidence. Remember, HF Markets is there to support you along the way with their educational resources and user-friendly platforms.

@Vinicius: Hey! I totally get your dilemma. Choosing between HF Micro and the cent account can be a tough decision. Let's break it down and talk about the risks involved.

With HF Micro, the tighter spreads can indeed be beneficial for grabbing quick profits. However, keep in mind that tighter spreads also mean lower margin for error, so the risk of losses can be higher if the market moves against you. It requires careful risk management and trading discipline.

On the other hand, the cent account could be seen as less risky because you can trade smaller positions. This allows you to have more control over your risk exposure and potentially limit losses. It can be a good option for beginners or those who want to practice trading with lower stakes.

Ultimately, the level of risk depends on your trading strategy, experience, and risk tolerance. It's important to consider factors like your financial goals, trading style, and how comfortable you are with managing risks.

My suggestion would be to carefully assess your own trading goals, risk appetite, and experience level. It might also be helpful to reach out to HF Markets directly or seek advice from experienced traders to get their perspective on which account type aligns best with your needs.

@Yohan:Hey, no need to sweat it when it comes to safety with HF Markets – they've got your back. HF Markets, also known as HotForex, has gone the extra mile to ensure that you can trade with confidence. They're no cowboy operation; in fact, they're regulated by some of the top financial authorities in the game, so you know they're playing by the rules and adhering to strict standards. One of the standout features is how they handle your money. Your hard-earned cash is kept separate from their operational funds, securely held in major global banks. This means your funds are both easily accessible and protected, even in the unlikely event of any financial issues on their end.

But there's more to the story – HF Markets is all about transparency. All the nitty-gritty details of trading conditions, fees, and policies are right there on their website, no hidden surprises or fine print. You'll know what you're getting into from the get-go. And they don't stop at that. They offer a bunch of risk management tools, like stop-loss orders, to help you navigate the markets wisely.

Speaking of wise moves, they've got your downside covered too. With negative balance protection, you can't lose more than what you've put into your trading account. That's a safety net that every trader can appreciate.

@Soliano: Testing an Expert Advisor (EA) in a Cent account has several advantages over using a demo account. The main benefit is that losses in a Cent account are limited to a small amount, like around $10, making it more cost-effective compared to potentially losing up to $200 in a demo account. This is particularly useful for novice traders or those testing new strategies as it reduces the potential financial risk during the testing phase. Additionally, trading with real money, even in smaller amounts, provides a more realistic experience and helps you understand the psychological aspects of trading. It allows you to gauge the EA's performance in a practical manner and develop discipline and emotional resilience. Furthermore, using a Cent account is cost-effective for EA developers who can test multiple EAs without significant expenses, helping them refine their strategies. Overall, Cent accounts offer a more efficient and affordable testing process while providing a connection to real trading conditions, making it a valuable option for EA testing. (also read : Cent Vs Micro Account, Which One Is Better? )

@Torino: Certainly! Let's break it down using the example of HF Markets cent account, considering the given conditions. In this scenario, let's assume you have deposited the minimum requirement of 5 USD into your account and are trading forex.

With a maximum leverage of 1:1000, you have the ability to control a larger position in the market compared to the amount of money you have in your account. For instance, if you have 5 USD in your account, the maximum position size you can trade is calculated by multiplying it with the leverage, which in this case is 5 USD 1000 = 5000 USD.

Now, let's say you open a trade with a position size of 5000 USD and the margin requirement for this trade is 1%. The margin is the amount of money set aside as collateral to cover potential losses. In this case, 1% of 5000 USD is 50 USD.

If the margin level, which is calculated by dividing your account equity by the used margin, falls to 50%, a margin call will be triggered. The account equity is the total value of your account including profits and losses.

To illustrate, let's say your account equity drops to 100 USD. This means your margin level would be calculated as 100 USD / 50 USD 100% = 200%. In this case, your margin level is above the margin call level of 50%, and your account is not in danger.

However, if your account equity further decreases to 50 USD, your margin level would be calculated as 50 USD / 50 USD 100% = 100%. Now, your margin level has reached the margin call level of 50%. At this point, you would receive a margin call, which is a warning that your account is close to being unable to sustain your open positions.

If your account equity continues to decrease and reaches the stop-out level of 20%, your open positions would be automatically liquidated or closed out by the broker to prevent further losses.

Based on my knowledge, we can rank them from most stringent to least stringent:

• FCA (UK) 801701
• CySEC 183/12
• DFSA (Dubai) F004885
• FSCA (South Africa) 46632
• Capital Markets Authority of Kenya 26/01/2022
• FSA (Seychelles) 8419176-1
• FSC (Mauritius) 094286
• FSA (St. Vincent & Grenadines) 22747

NB : It is based on my know, to make sure it is correct or not you can get the information by seeing review of those regulators. For example, you can see the article about FCA UK in here : UK FCA vs ASIC, Which Forex Regulator is More Reliable?

Now, for the second question about choosing regulators – usually, you can't pick and choose which regulator your broker follows. It's more about where the broker is based and operates. To clear up any confusion, maybe check out HF Markets' terms or just hit them up directly. Hope that helps!

The cent account is like the newbie's best friend. Especially if you're making the leap from a demo to a real account. The cool part is that losses on cent accounts can be capped at less than 10 bucks, which is pretty sweet.

Now, let's get into the nitty-gritty. If you're rocking 1 lot in a Cent account and you happen to lose 10 pips in the EUR/USD trade, your potential loss would be equivalent to 10 cents. That's because in a Cent account, each pip movement is valued at a cent. Remember, all loss that you can get with USD become cent and it is also same if you profit from it! That's why I said before, the cent account is really newbie's best friend! (As the refference, read this article : How Does a Cent Account Work?)

So, it's like a low-risk playground for new traders where you can get the hang of things without going broke. Hope that clears things up!

Hey there! in my opinion, trading continuously on a cent account is indeed possible, and it can be a suitable option for beginners looking to gain real trading experience without exposing themselves to significant financial risks. The cent account, with its reduced losses capped below $10, provides a controlled environment for learning and refining trading strategies. While the potential for profit exists, it's essential to approach trading with a disciplined strategy, risk management, and a thorough understanding of the market dynamics. Continuous learning, staying informed, and practicing sound trading habits are key factors in making the most out of trading on a cent account. However, if you want decent profit, I think cent account cannot give that because the profits also in cent. For example, if you profit 10 pips in standard account which is $10, in cent account it might be only $0.1.

Learn more about cent account : How Does a Cent Account Work?