There is a startling fact that 90% of forex trading beginners fail right from the start. That is because forex trading market is complicated. Therefore, forex trading beginners are strongly advised to open a forex demo account. The beginners should spend 1-2 months practicing with demo account before investing real money. However, forex demo account is not the best solution for inexperienced traders. Some research has shown that even though you succeed with demo account, you still have high risk of failing with real account. In fact, you can easily win with demo account, because the brokers provide better trading conditions for demo account such as lower spread, lower volatility, better execution and price etc. Unfortunately, most forex trading beginners become over-optimistic about forex trading and overlook problems that may arise in the future, after they win a lot of money from demo account without difficulty. They will think forex trading is a piece of cake and can win with real account. Nonetheless, real account is far different from demo account. Consequently, forex trading beginners cannot learn much about forex by practicing with demo account. This first wrong approach will result in failure of many beginners. After that, they will have to deal with various problems when come to trading with a real account. Of course, the forex trading beginners must continue to invest time and real money to trade again.
Read more best forex broker 2018
For all reasons above, it is important for forex trading beginners to take right trading approach. I will strongly advise the forex trading beginners to open a real account in the beginning. Of course, you should only trade with the best forex brokers such as Exness, which have offer various type of accounts suitable for both beginners and experienced traders. (Click here to learn more). Cent account is considered to be perfect choice for the beginners. I will explain to you the reasons why beginners should open a Cent account:
Cent account is a real account. This type of account will give you the opportunity to gain more experience in real trading conditions: real spread, real prices, real volatility, slippage etc. If you can succeed in making money with Cent account, you will have more chance to win with other real account types.
You will become self-discipline, if you practice trading with Cent account. Unless you follow risk management, you will be in danger of losing all your money instantly.
When you open a Cent account, you can trade with Cent dollars. That is also one of the advantages of Cent account, which you should take serious consideration. You can deposit 10$ in order to get 1000 USC in your account. You can take advantage of this 1000 USC to open hundreds of orders to practice trading. Additionally, you can withdraw all your money and profit whenever you want because this is a real account. If you fail, you just lose all your 10$ deposit which is enough for you to practicing for a month. In this case, failure can bring you useful lesson to trade in real trading conditions. Furthermore, trading with your real money force you must enhance your trading ability as soon as possible.
Why forex trading beginners should open an Exness cent account?
It is common that large forex brokers do not provide Cent accounts. Beginners usually find Cent account only at small brokers. However, I will never encourage you to trade with small brokers. As I said before, you can be supported with better trading conditions offered by the best forex brokers. Additionally, the bigger business scale brokers have, the more trustworthy they are. However, Exness is an exceptional. It is true that Exness is one of the largest retail forex brokers in the world, but they still offer Cent account. Click here to know more about their trading volume. (You should know that Deloitte, the most famous and independent audit company, audited report of Exness. Therefore, this report is highly reliable.)
You should know that Exness will limit the number of orders because beginners are not their target audiences, but 1- 2 month is enough for you to practice with the best broker and learn more about trading conditions. Here are reasons why Exness Cent account is the best for forex trading beginners.
Firstly, being one of the biggest retail forex brokers, Exness gains excellent reputation for its high- quality services and trading conditions. You can check Exness reviews here.
Secondly, when you open a Cent account at Exness, you don’t have to make minimum deposit. You can deposit as low as $1 or whatever you want. Appealing minimum deposit of Exness Cent account are totally worth considering by forex trading beginners because they are not willing to deposit too much.
Thirdly, positions can be opened at as low as 0.01 Cent or 0.0001$ which is the lowest minimum position value in trading market. Order’s low value allow you to practice with more orders. Exness will offer low position to inexperienced traders which means that you have to spend only $10 on trading in 1-3 months. For beginners, this is a golden opportunity to practice orders with low value, especially when their failure rate is up to 90%.
Fourthly, leverage of Exness Cent account is the highest in the trading market. If leverage get higher, the margin will be reduced. Therefore, you can keep your order open by getting more free margins.
Fifthly, thanks to instant local payment methods, it is very convenient for you to deposit and withdraw from Cent account. For the beginners, the more simple, the better.
Finally, Exness have supported traders with local languages. Forex trading is sophisticated, so local language speaking supporters can help you understand more about forex trading market. By this way, you can easily solve your problem with forex trading. Exness have supported traders who speak Chinese, Thai, Vietnamese, Malay, Arabic, and English,
How to open an Exness Cent account?
You can open Exness Cent account here.
You are required to provide your email and phone number in order to open Cent account. It takes you just one minute to complete registration.