
Why Use Cent Accounts?
There are strict account sizing requirements when linking your account to a trading account - these requirements are shown in the list of linkable accounts.
Our most popular trading Robot is the Profit Retriever for account linking. It generally requires an account of $10 000. That is because that is the balance that they are best traded with for Forex instruments. Other instruments such as indices and Gold may even require higher amounts is your account. You should not trade smaller accounts by simply reducing the lot sizing - it will not work.
Many traders do not have that much trading capital to follow only 1 account. The answer is cent accounts offered by certain brokers. The accounts take the amount you deposit into your account and reflect the balance in cents. However the cents are still reflected as dollars in the accounts. So a $100 deposit will convert to a $10 000 in a cent account. It is only for presentation purposes, but this allow the account to be traded as a $10 000 account. The robot sees the account as a $10 000.
Furthermore we strongly encourage you to use Portfolios when using the linked account service and not to put all your eggs in 1 basket. This means that you could end up requiring considerable capital if you are trading a number of strategies.
Cent account regard the cents that you have in your trading account as dollars. So when $100 suddenly becomes $10 000 when trading a Robot, this makes it possible for traders to create a $100 000 portfolio (10 Profit Retriever strategies) with only $1 000.
Hence the recommendation to use Cent accounts when using this service.
Please read the other sections for more information on where to find cent accounts and other discussions about these accounts
Please watch the videos on How Cent Accounts Work and How to Open Them
Finding information on Cent account brokers can be tricky.
Here are some sources:
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Information on the Forum
There has been considerable information and discussions in the forum – to view these discussions please use this link:
https://www.forextradingsetups.com/categories
and type in “1c” or “Cent” or similar terms to get some prior discussions
2. Information on the internet
Please use Google and search for “Cent Broker Accounts” and this should provide a list of Cent account brokers
3. Member Cent Account experience
Currently we are using Exclusive Markets who have the best customer service we have experienced todate ExclusiveMarkets
4. Member discussions
Hopefully, many members will post their own experiences and cent broker recommendations in the discussion section but you will have to do your own search for cent accounts that will meet your need taking you country of residence and personal factors into account
https://www.forextradingsetups.com/discussions-regarding-cent-accounts-917013