At the beginning, many novice traders entered the market through demo accounts, but since demo accounts were not real and did not allow trading with actual capital, they could not create a real sense of trading or accuracy in execution.
In this regard, brokers decided to create accounts with low and accessible balances for traders so that they could enter the market with real money but in small volumes. These accounts allowed traders to engage in trades without high risk and to test their strategies under real market conditions. That is why cent accounts were created.
MondFX Broker
MondFX is one of the reputable and popular brokers that offers traders the opportunity to use nano accounts. These accounts are specifically designed for those who wish to start trading with very small volumes and low risk. With a minimum deposit of $15, traders can enter the real market and test their strategies with minimal risk.
These accounts are highly suitable for traders seeking hands-on experience in financial markets due to their floating spreads starting from zero pips, high leverage (up to 1:500), and support for trading robots and copy trading. In addition, these accounts also offer the option of Islamic accounts, which is a significant advantage for traders who adhere to Sharia law. However, since nano accounts generally involve smaller trading volumes, they may present limitations for professional traders aiming for higher profits. Moreover, advanced analytical tools may not be fully available in this type of account, which can be a weakness for traders who rely on complex analyses and specific strategies.
FBS Broker
FBS is one of the most popular international brokers that also provides services to Iranian users. This broker offers a Cent account with a minimum deposit of only $1, making it an ideal option for starting to trade with a small amount of capital.
In the FBS Cent account, each 1 lot equals 1,000 units of the base currency, allowing for better risk management and low volume trading. This broker supports the well known MetaTrader 4 and 5 platforms, which are suitable for traders at all levels. Notable features of the FBS Cent account include floating spreads starting from 1 pip, fast trade execution, and the possibility of using leverage up to 1:1000. The broker also provides 24/7 Persian language customer support, which is highly beneficial for Iranian users.
Key advantages of FBS include its very low minimum deposit, easy account opening process, fast deposit and withdrawal options, and strong customer support. However, the broker also has some drawbacks, such as limitations on certain payment methods for Iranian users and increased spreads during periods of high market volatility. FBS is a suitable choice for beginner traders who wish to enter the Forex market with minimal capital and benefit from reliable support. Due to its high flexibility and simple conditions, the broker’s Cent account enables learning and gaining trading experience with minimal risk.
Alpari Broker
Alpari is one of the oldest and most reputable brokers operating in the Forex market, having started its activities in 1998, and it also provides services to Iranian users. This broker offers a Cent account with a very low minimum deposit (usually between $1 and $10), allowing traders to trade with small volumes (1 lot = 1,000 units).
Alpari’s main platforms are MetaTrader 4 and 5, which are suitable for both beginners and professional traders. Unique features of Alpari’s Cent account include the ability to trade with very low capital, competitive spreads, and fast trade execution. The broker has created relatively favorable conditions for Iranian users and also supports rial based deposits and withdrawals.
Key advantages of Alpari include its long standing history and strong reputation in the market, support for MetaTrader, low entry capital requirements, and suitability for low volume trading. However, this broker also has some drawbacks, including comparatively weaker regulatory oversight than some competitors and occasional restrictions for Iranian users.
Alpari is more suitable for beginner traders who want to start with low capital and use the MetaTrader platform. Due to its low trade volume and simple conditions, the broker’s Cent account is an ideal option for those who want to enter the Forex market with low risk.
Exness Broker
Exness is considered one of the leading brokers operating in the Forex market and has been active since 2008. This broker also provides services to Iranian users and is known for its exceptional trade execution speed and extremely low spreads (starting from 0 pips on ECN accounts).
Exness offers various types of trading accounts, including a Cent account with a minimum deposit of $1. Unique features of this broker include an instant deposit and withdrawal system (less than 3 seconds for most methods), floating leverage up to 1:2000 (one of the highest in the market), and support for multiple platforms including MetaTrader 4, MetaTrader 5, and its proprietary web terminal.
This broker offers swap free Islamic accounts for Muslim traders and provides 24 hour Persian language support. The main advantages of Exness include fast trade execution, competitive spreads, and a low minimum deposit. However, the broker also has some drawbacks, such as limitations in certain deposit and withdrawal methods for Iranian users and the possibility of slippage during periods of high market volatility. Exness is considered a suitable option for scalpers, those trading with small capital, and traders who require high leverage.
Golden Tip
Cent accounts in the Forex market are among the most practical options for novice traders and those operating with small capital. In these accounts, each lot equals 1,000 units of the base currency, which reduces the trade volume by up to 100 times compared to standard accounts (100,000 units).
This feature allows you to enter the market with as little as $5 to $10 and trade with controlled risk.
One of the most important advantages of a cent account is the ability to test various trading strategies without the need for large capital, which is highly valuable for beginner traders.
However, it should be noted that some brokers may impose limits on withdrawal amounts or specific conditions for these accounts. Additionally, although the trade volumes are small, risk management and the appropriate use of leverage remain critically important.
Choosing a reputable broker that supports cent accounts and offers fair conditions plays a key role in your success. This type of account is an ideal option especially for those who want to gradually and more consciously step into the world of Forex