Home Forex Brokers Top Forex Cent Account Brokers for 2022

Top Forex Cent Account Brokers for 2022

Top Forex Cent Account Brokers for 2022


Foreign exchange remains not just the most liquid financial market but also the most accessible. Over the years, the barrier to entry has been incredibly lowered, allowing less affluent investors to immerse themselves in the fray of currency trading.

The demand from newer traders for smaller account requirements has been growing. Fortunately, brokers have listened, and some provide cent accounts allowing such individuals to start small. 

If this is you, or perhaps you just want to try a new broker with a live account without committing too much, you’re at the right place. 

So, without further ado, explore our ‘two cents’ on the top cent account forex brokers for 2022. But first, some educational information on this interesting topic.

How does a cent account work in forex?

In forex, we have different kinds of accounts, one of them being the cent account. This is where a trader’s positions are denominated in cents rather than dollars. In a cent account, a cent lot is worth 100 000 cents (or $1000), unlike a standard account where a standard lot is typically worth $100 000 or currency equivalent (100 000 units of the base currency).

For instance, a $100 deposit typically equals 10 000 cents, which is how it will reflect on your terminal. The minimum trade size is 0.01, where every pip is worth 0.001 cents (unlike a standard account where 0.01 usually equals $0.10 a pip).

A forex cent account is perfect for cash-strapped traders and practicing strategies with little financial risk. The trading conditions remain relatively the same as any standard account, except for the smaller positional volume.

Pros and cons of a cent account 

The main benefit of a forex cent account is you can start trading with a relatively small account while reducing the monetary risks of using a standard one. Under-capitalization is a significant problem, particularly for fresher traders.

Most brokers offering the former account advertise to clients that they can use it with an amount as low as $10. While it is possible and seems relatively harmless, it puts the trader at a disadvantage. 

If 0.01 is generally worth $0.10 a pip on a standard account, a mere 30 pip move against the trader (a small price difference) would equal $3, almost a third of their account.

However, if using a cent account, your equity would only be a floating loss of $0.03. This also means you can test new strategies with little capital risk but also benefit from trying them in actual market conditions instead of on a demo account.

The downside is your profits on a cent account will be relatively tiny. Therefore, a more experienced trader may consider funding their account with a higher amount at a later stage. Secondly, the spreads may be slightly higher on such an account than usual. 

Lastly, some brokers may only permit their clients to trade a limited range of non-currency instruments rather than their whole suite of financial products.

Factors to consider when observing a forex cent account broker

The range of forex cent account brokers is vast, making it challenging to select the cream of the crop. Fortunately, we have outlined the main factors to help you arrive at this decision.


Forex is one financial market prone to fraud and other wrongdoings. Therefore, you need to ensure your broker is overseen by a recognized supervisory body so that the company treats you fairly and ethically. 

Most forex cent account brokers will be regulated by any of the following regulators (but not limited to):

  • ASIC (Australian Securities and Investments Commission) 
  • CySEC (Cyprus Securities and Exchange Commission)
  • CFTC (Commodity Futures Trading Commission) 
  • FCA (Financial Conduct Authority) 

Several other regulatory bodies exist in Europe, North America, and Asia. Regardless, you should ensure it’s a notable regulator, preferably not from an offshore jurisdiction like Cayman Islands, Mauritius, Saint Vincent, Grenadines, Bermuda, etc.

Trading costs

Here, you’ll want to compare the spreads to ensure they are in line with the average broker. The second cost to consider is the swaps, as these will vary more than the spreads. Other fees to observe also include those for depositing and withdrawing. 

Most brokers don’t levy any charges for doing this, but you should always double-check. Other possible fees to note include inactivity and currency conversion fees. Overall, a top cent account forex broker will be as cost-effective as possible.

Available markets

As previously mentioned, cent accounts may not allow access to a broker’s entire range of financial instruments like stocks, indices, metals, commodities, and cryptocurrencies. Many forex traders partake in other markets aside from currencies.

Therefore, you’ll want to choose a broker to offer as many securities as possible to have everything under one roof.

Payment methods

When you deposit into a forex cent account, you’ll need to have as many options available for preference or convenience purposes. As a cost-saving tip, always fund with a bank card as these are the quickest and cheapest. 

You should avoid funding through SWIFT/bank wire as this method tends to be costly, and your money may take at least a day to reflect in your trading account.

Customer support options

No financial services brand is complete without accessible customer service. With your average forex broker, you should expect a functioning and receptive live chat available 24/5 (or sometimes longer).

Virtually all brokers should also have a telephone line (often more than one) and allow clients to contact them via email support tickets. Others have dedicated assistants on instant messaging platforms like Messenger, Viber, and WhatsApp.

Top 5 Forex Cent Account Brokers For 2022

We’ll now review the five best cent account forex brokerages by examining their main features and pros/cons.

XM: Best Overall

XM's homepage


  • MT4, MT5 trading platforms
  • Market execution
  • 57 forex pairs
  • 1:888 max. leverage
  • 300 max. positions
  • $5 minimum deposit
  • VISA/Mastercard, bank transfer, Neteller, Skrill, WebMoney, BitPay, Perfect Money, and SticPay  for funding/withdrawing
  • USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR base account currencies
  • Margin call/stop out: 50%/20%

Founded in 2009, XM is a multi-regulated broker in Cyprus (CySEC), Belize (FSC), Dubai (DFSA), and Australia (ASIC). In our eyes, it’s the best broker for a forex cent account, which XM provides on their ‘Micro Account.’

At a starting balance of $5, you can trade 57 forex pairs and seven other asset classes, combining hundreds of instruments across desktop, mobile, and web interfaces. 

Also, XM has one of the better no deposit bonus offers for first-time users. You can trade with $30 risk-free to try out the broker’s overall trading experience, which may be a ‘tester’ for skeptical clients, before going onto the Micro Account.


  • Multi-regulated
  • More than 10 years in existence
  • Broad selection of forex and non-forex markets
  • Provides reasonable no deposit bonus for new clients
  • Multiple base currency designations


  • Inactivity fee is charged for dormant accounts

Exness: Best For The Highest Leverage

Exness' homepage


  • MT4 trading platform
  • 107 forex pairs
  • Unlimited number of positions
  • Unlimited leverage
  • $10 minimum deposit
  • Visa/Visa Electron/Mastercard/JCB, Neteller, WebMoney, Skrill, Perfect Money, SticPay, and bank wire for funding/withdrawing
  • USD, EUR, GBP, CHF, AUD, and CAD base account currencies
  • Margin call/stop out: 60%/0%

From 2021, Exness has been cited by numerous financial publications as processing some of the highest trading volumes among forex brokers. The company was initially founded in 2008 and is licensed by six different regulators. 

Among its five offered accounts is the cent account that unusually comes with unlimited leverage, where most brokers have a limit. The other benefit is Exness’ massive selection of 107 currency pairs, which is much higher than the average.


  • Licensed in numerous jurisdictions
  • One of the largest brokers by trading volume
  • Limitless leverage
  • Comprehensive forex market selection


  • Only forex and metals available on cent account
  • Cent account only available on MT4

FBS: Best For Widest Choice Of Non-Forex Markets

FBS' homepage


  • MT4, MT5 trading platforms
  • 35 forex pairs
  • 1:1000 maximum leverage
  • Max. of 200 open positions
  • $1 minimum deposit
  • Visa, Neteller, SticPay, Skrill, Perfect Money, and bank wire for funding/withdrawing
  • USD, EUR base account currencies
  • Margin call/stop out: 40%/20%

Established in 2009, FBS is a popular derivatives brokerage licensed by the IFSC (Belize) and CySEC. Among its selection of six accounts is the cent account with a starting balance of a dollar, less than a cup of coffee.

Aside from the cost-effectiveness, FBS is particularly beneficial as it provides several other non-currency markets on their cent account, namely metals, indices, energies, and stocks. Therefore, if you’re looking for more diversification with this account, FBS is one of the best options.


  • Regulated by CySEC
  • Low minimum deposit
  • Wide selection of non-forex instruments
  • Relatively high leverage
  • Provides other accounts aside from the cent


  • A limited selection of forex markets

FIBO Group: Best For Low Minimum Deposit 

FIBO Group’s homepage


  • MT4 trading platforms
  • 32 forex pairs
  • 1:1000 max. leverage
  • 50 maximum open orders
  • $0 minimum deposit
  • VISA/Mastercard, bank wire, Neteller, Skrill, WebMoney, FasaPay, and crypto for funding/withdrawing
  • USD, gold base account currencies
  • Stop out level at 20%

The Financial Intermarket Brokerage Online Group (or the FIBO Group) is an Austrian-based, multi-regulated broker established in 1998.  FIBO has offices scattered across Central/East Asia and Europe.

The broker takes cost-effectiveness even further by having a zero minimum deposit, which is one of its strengths. Moreover, unlike other brokers, you can fund using crypto through Raido Finance, Raido Spare, Blockchain, and Bitpay.

Furthermore, clients can trade 32 currency pairs, nine crypto pairs, XAUUSD (gold), and XAGUSD (silver) with relatively high leverage on the MT4 platform. 


  • Founded in 1998
  • Multi-regulated
  • Zero minimum deposit
  • Permits crypto funding


  • Cent account only available on MT4
  • Inactivity fee applies
  • Only 50 max positions at a time

Roboforex: Best For Excellent Customer Support

Roboforex's homepage


  • MT4, MT5 trading platforms
  • 36 currency pairs
  • 1:2000 maximum leverage
  • Max. of 200 open positions (1000 for MT5)
  • $10 minimum deposit
  • VISA/MasterCard/JCB/China UnionPay, AstroPay, Skrill, Neteller, Perfect Money, AdvCash, bank wire, and many other country-specific payment methods
  • USD, EUR, CNY, GOLD base account currencies
  • Stop out level at 10%

Like FBS, Roboforex is a CFD brokerage regulated by CySEC and the IFSC, with a head office in Belize. This company excels in customer service offered in several dedicated channels, namely live chat, callback, and email, along with Messenger, WhatsApp, Skype, Viber, and Telegram instant messaging platforms.

Plus, like XM, Roboforex offers a $30 welcome bonus (by depositing just $10) for new customers with reasonable terms and conditions. 


  • Offers $30 welcome bonus for new clients
  • Broad choice of payment methods
  • Many customer support options


  • Limited amount of markets offered

FAQs about the top forex cent account brokers

Who should be using cent accounts in forex?

Under-capitalized traders can benefit from this account to limit their potential losses. Newer traders, particularly those transitioning from the demo to the live stage, can also find this feature useful.

Lastly, experienced traders wishing to test their discretionary or mechanical strategies (robots/expert advisors) could use the cent account to trade with little money while experiencing real market conditions.

What is the difference between a cent and a standard account?

The main difference is the positional volume. On a standard account, one lot is generally worth 100 000 units of the base currency (typically for USD, this is $100 000). On a cent account, one lot is commonly worth 1 000 units of the base currency ($1 000).

More specifically, a pip on a standard lot is worth $10; on a cent account, a cent lot is worth $0.10. You should note that each pair will have different pip values; we have only provided a general example.

Can you make a profit with a cent account?

Absolutely. However, your gains will be relative to how much you’ve started with. So, for instance, if you funded with at least $10, your profits will be unlikely to be worth two or three figures unless with high risk or leverage.


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