Standard and Cent accounts

standart and cent accounts

Most Forex beginners believe that the standard and cent account is the same. Let’s try to explain the situation.

For example, the broker Hotforex does not have cent accounts, there are only Standard or Micro accounts offered.

Standard account:

The account balance calculated in dollars.

Minimal lot is 0.01

1 pips to 0.01 lot = 0.1 $

However, there are brokers who are more targeted at beginners, for example, Roboforex or  InstaForex and allows you to open a cent account.

Cent account:

The account balance expressed in cents.

Minimal lot is 0.01

1 pips to 0.01 lot = 0.001 $

For example, a $ 20 deposit in the terminal will be visible as 2.000 cents.

Thus, one and the same lot of different types of accounts may refer to a different level of risk. It should be noted that cent account allows you to trade even with small amounts of deposits.