there are some forex brokers now offer specific account (Cent or Nano Account or others )that you can trade very small transaction volume.
These specific account allow trading
0.001 lot or enven smaller transaction volume.
These accounts has been designed for small depositors and newcomers to the forex industry and is ideal for all those wishing to get a taste of real trading with a lower deposit.
Lot size reference:
1 lot = 100k = 100 000 units (standard lot)
0.1 lot = 10k = 10 000 units (mini lot)
0.01 lot = 1k = 1000 units (micro lot)
nano lot=(0.001 lot or 0.0001 lot),
any amount” = no limitation on position size
When trading 0.001 lot,one pip just equal 1 usd cent.with a minimum transaction volume of just 0.1 of a micro lot (100 units of base currency) you can minimize your risks while learning about real market trading. After some time with a demo account, a cent account is a good starting point for any beginner. You can observe your own behavior under real pressure, learn about trading discipline and gain an understanding of the market.
For a new trader who are less experienced and who wants to try their strategies.for them,cent account is very useful and it is a good opportunity to be a professional from this account,with less risk of money.
i heartly recommend for new traders to start with cent account unless you know this market.it is very risky and reports shows that at starting 95% forex traders loss their money.so it is good to loss only in cents and make your self as a invest for your profitable forex trading.
Below is the list of Forex brokers allow trading nano lot
|
|
||
|
|
||
|
|
||
|
|