Trading on the financial markets can seem intimidating, especially for beginners with limited capital. However, opening a cent account with RoboForex allows you to start trading with an extremely low minimum deposit.
In this comprehensive guide, we’ll walk you through the entire process of opening a cent account with RoboForex, funding your account, and placing your first trade with as little as $1. You’ll learn the benefits of cent accounts, the platform features, types of cent accounts offered, step-by-step account opening process, making a deposit, and finally placing your first small trade on the markets.
Overview of Cent Accounts with RoboForex
RoboForex offers cent accounts that allow you to trade on the forex and other markets with nominal contract sizes starting from just 0.01 lots. This means you can open micro positions worth just a few cents.
The key benefits of cent accounts include:
- Ultra-low minimum deposit – Open an account and start trading with as little as $1.
- Low-risk trading – Cent accounts allow you to start small with minimal capital at risk.
- Practice trading strategies – Perfect for testing strategies in a live market environment.
- Gain experience – Get a feel for real market conditions with smaller positions sizes.
- Flexible leverage – Leverage up to 1:2000 allows trading with small capital.
- Tight spreads – Competitive spread starting from 0 pips on certain accounts.
- Metatrader platforms – Trade on industry-standard MT4 and MT5 platforms.
- 24/5 support – Get assistance from the helpful RoboForex support team.
Cent accounts are ideal for beginner traders who want to gain experience in the markets with minimal risks and capital outlay. The low minimum deposit makes it accessible to anyone.
RoboForex Trading Platforms
RoboForex offers its cent accounts on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
Key Features of MT4 and MT5
- Charting & analysis – Advanced charting package with 100+ indicators and drawing tools for technical analysis.
- Trading – One-click trading directly from charts and order ticket trading.
- Automated trading – Allow EAs, robots, and automated strategies to trade on your behalf.
- Custom indicators – Ability to create and use custom indicators and EAs for unique strategies.
- Mobile app – Trade on the go with iOS and Android mobile apps.
- Account management – Manage your account, orders, positions directly on the platforms.
Both platforms offer similar core functionality for traders. MT5 has a few additional features such as more order types, Depth of Market (DOM) trading, and support for stocks and futures.
Which Platform Should You Choose?
- For forex trading, either MT4 or MT5 will suffice, though MT4 remains the most popular choice.
- For multi-asset trading, MT5 is preferable with wider markets and products.
- If you use EAs or custom indicators, stay with MT4 as there are more available.
- The MT5 mobile app is generally preferred over the MT4 mobile app.
Overall, MT4 is better suited to forex and EA traders, while MT5 isoptimal for multi-asset trading. But both offer viable options for cent account holders.
Types of Cent Accounts Offered by RoboForex
RoboForex provides three main types of cent accounts to meet differing trader requirements:
1. Pro-Cent Account
- Minimum deposit – $1
- Spreads – Variable spreads from 1 pip
- Commission – No commissions
- Leverage – up to 1:2000 leverage
- Trading platforms – MT4, MT5
This basic cent account has market-based variable spreads and high leverage to accommodate small positions. Best for new traders looking to get started.
2. Pro-Cent ECN Account
- Minimum deposit – $100
- Spreads – Super-tight spreads from 0 pips
- Commission – $3 per lot round turn
- Leverage – up to 1:500 leverage
- Trading platforms – MT4, MT5
ECN spreads from 0 pips plus low commissions, designed for active traders seeking the tightest costs. Requires a slightly higher minimum deposit.
3. Prime-Cent Account
- Minimum deposit – $100
- Spreads – Tight fixed spreads from 0 pips
- Commission – No commissions
- Leverage – up to 1:500 leverage
- Trading platforms – MT5
Combines fixed forex spreads and high leverage for affordable cent trading. Only available on the MT5 platform.
Step-by-Step Guide to Opening a Cent Account with RoboForex
Opening a cent account with RoboForex is a quick and straightforward process that can be completed online in minutes. Follow these steps:
Step 1. Visit RoboForex Website and Click “Open Account”
Head over to www.roboforex.com and click the “Open Account” button in the top right corner.
Step 2. Select Account Type
You will be presented with a choice of Real Account, Demo Account, or Promo Account. Select “Real Account” to open a live cent trading account.
Step 3. Complete Account Registration Form
Fill in your personal details such as name, DOB, country, and contact information. Then enter your trading experience, preferred currency, leverage, account type, platform choice, and verification code.
Key fields:
- Account Type – Select your preferred cent account type
- Platform – Choose between MT4 and MT5
- Password – Create a secure password
Step 4. Verify Your Identity
RoboForex is required to verify your identity before opening an account. Upload scans or photos of your valid government-issued ID (passport, driver’s license etc) and proof of residence (utility bill etc).
Step 5. Make Deposit to Fund Your Account
Once approved, fund your cent account with the $1, $100 or more minimum deposit depending on account type selected. Convenient payment options include:
- Debit/credit cards (Visa, MasterCard etc)
- E-wallets (Skrill, Neteller, WebMoney etc)
- Bank wire transfers
- Online payment systems
Step 6. Install Trading Platforms and Set Up Access
Download and install the MetaTrader trading platforms on your desktop computer or mobile device. Sign in using your RoboForex account details. Customize settings as desired.
You now have access to your cent account and the markets!
Making a Deposit into Your Cent Account
To start trading, you’ll need to make a minimum deposit into your new RoboForex account using one of the following methods:
Credit/Debit Cards
- Pros: Quick, convenient, instant funding
- Cons: Higher transaction fees, limits on deposit sizes
Deposit in seconds. Enter your card details on RoboForex deposit page. Funds appear instantly. Cards accepted include Visa, Mastercard, Maestro, and Visa Electron.
E-Wallets
- Pros: Fast, digital wallet deposits
- Cons: Don’t offer chargeback protection
Popular e-wallets such as Skrill, Neteller and WebMoney. Create free e-wallet account and fund your trading account quickly.
Wire Transfers
- Pros: No limits, regulated transactions
- Cons: Slow transfer times, bank fees
Traditional wire transfer directly from your bank account. Slower transfer but no limits. Watch for bank wire fees.
Online Payment Systems
- Pros: Low fees, fast transfers
- Cons: Regional availability
Local payment providers like China UnionPay, Qiwi, Yandex available in specific countries. Low-cost digital payments.
Review funding options carefully to find the best deposit method for your needs and location. Minimum deposits start from just $1.
Placing Your First Trade with Just $1
Once your cent account is funded, it’s time to place your first micro trade! Follow these steps:
Step 1. Analyze the Markets and Identify Opportunities
Use the charts and tools in MT4/MT5 to analyze forex pairs or CFDs and look for high probability setups aligned with your strategy. Focus on major pairs with the tightest spreads.
Step 2. Calculate Appropriate Trade Size
Leverage allows you to trade larger positions than your balance. But use risk management. Calculate ideal trade size based on your balance and risk appetite.
Step 3. Open Order Ticket and Set Parameters
Right click on the chart or use the New Order button. Select instrument, account type, volume in micro lots (0.01, 0.02 etc), stop loss, take profit etc. Set based on your strategy. Review order details.
Step 4. Execute Your First Micro Trade
Click the “Sell” or “Buy” button to execute your first small position. Confirm the open order appears in your terminal. Monitor the market and manage the trade.
Start with micro lots to minimize risk. Evaluate results and look for ways to improve. Increase position sizes steadily as you gain experience.
Frequently Asked Questions
What is the minimum deposit for a RoboForex cent account?
The minimum deposit varies based on account type but starts at just $1 for the Pro-Cent account. The ECN and Prime accounts require a $100 minimum deposit.
What leverage is available on RoboForex cent accounts?
Leverage up to 1:2000 is available on the Pro-Cent account. The ECN and Prime accounts offer leverage up to 1:500. High leverage magnifies trading capability but involves risk.
What are the spreads and commissions?
The Pro-Cent account has no commissions and variable spreads from 1 pip. The Pro-Cent ECN account has super tight spreads from 0 pips + $3 commission per lot. The Prime account offers fixed spreads from 0 pips with no commissions.
Can I use Expert Advisors and robots on cent accounts?
Yes, RoboForex allows automated trading on cent accounts via Expert Advisors on both the MT4 and MT5 platforms. Use EAs to run automated strategies.
Is a RoboForex cent account right for me?
Cent accounts are great for new traders ready to get their feet wet in live markets with minimal capital. But consider longer-term if using larger capital or more advanced strategies.
Can I switch between MT4 and MT5 trading platforms?
Yes, you can trade on both MetaTrader 4 and MetaTrader 5 with a single RoboForex account and easily switch between the two platforms if desired.
How do I withdraw funds from my RoboForex account?
Login to MyRoboForex and submit a withdrawal request by selecting your preferred withdrawal method. Process takes 2-5 days. Ensure you meet any withdrawal requirements.
Conclusion
Opening a cent account with RoboForex allows virtually anyone to start trading on the markets with an extremely small minimum deposit. Ultra-low account minimums from just $1 makes trading accessible.
Choose between basic Pro-Cent, Pro-Cent ECN, or Prime accounts depending on your requirements. Open your account easily online and fund it via convenient payment methods.
Use the powerful MetaTrader platforms to analyze the markets and place micro trades using precise position sizing. Build your knowledge and skills in a live trading environment with minimal capital at risk.
RoboForex cent accounts represent an excellent path for novice traders to get started and begin testing their abilities. Open your account today and join thousands of traders worldwide leveraging these flexible cent trading solutions from RoboForex!
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| 9. | FBS | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Cent, Zero Spread | 100% Deposit Bonus | Open FBS Account |
| 10. | Binance | DASP | $10 | Binance Platforms | N/A | Best Crypto Broker | Open Binance Account |
| 11. | TradingView | Unregulated | Free | TradingView | N/A | Best Trading Platform | Open TradingView Account |
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