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Screenshot of a breaking news alert e-mail from Q2 2017
Cent accounts, as their name suggests, use cents as an accounting unit for transactions. For instance, a cent account with a balance of 1,000 cents means the balance will be USD 10.
The decision by AForex to launch such accounts puts an emphasis on a specific point of importance relating to Cent accounts – their usefulness when trading with robots. Traders which utilize automated trading techniques are perhaps aware that substantial amounts of money may be lost while they twitch the settings of expert advisors, especially during the first days of trading with a new automated system. More damage to the balance of an account may stem from trading with risky programs based on methods such as Martingale and grid. Reducing the size of such losses one hundredfold is a huge advantage of Cent accounts and AForex has clearly considered this.
Those who wish to open a Cent account with AForex are required to stump up a minimum deposit of $100, and trading facilities are provided on then Metatrader 4 platform, including its mobile version, with spread from 1.5 pips, along with what the firm confirms to be instant execution of orders.
AForex seeks to make use of high demand for Cent accounts in regions such as Russia and the developing countries. In the face of the popularity of this type of account, there are not that many Forex brokers that offer them. The list includes Alpari Russia whose Nano accounts are Cent accounts, RoboForex, InstaForex and Forex4you. Many brokers provide Cent accounts only in certain countries, with the European Union usually overlooked. EXNESS, for instance, targets the developing market with its Cent accounts and does not offer them in Russia and the EU.
The introduction of Cent accounts marks one more novelty to the products and services portfolio of AForex. Less than a week ago the broker launched its binary options platform in cooperation with North American BinaryWare. Trading on the platform is now available on demo for the broker’s clients.