Why is it useful to test your Strategies in Cent Accounts? If you choose to test strategies in Cent Accounts it is one of the best ideas to not lose big quantities of money if you have not managed risk for extreme market situations and you are still testing. Cent accounts let you trade with at least x10 less balance risk.
Cent Accounts such as the one found at RoboForex have a minimum lot value of 0.1 lots but if you multiply it by the cent value it would mean 0.001 lots. so it is way worth to test strategies for 1000 usd at 100 usd or strategies for 100 usd at 10 usd. You can even start Trading with the 30 usd they offer as Bonus, that will be 3000 cents at 0.01 lots.
Some other brokers let you open operations at 0.01 in Cent Accounts, such as Fibo Group, FXTM and PaxForex. There are certain details that are important to take into account when opening a Cent Account with any of these brokers, as Fibo offers just 50 orders opened including market and pending. Also Leverage offers are different per region, so, you must take these specifications into account.
Once you have a clear and safe strategy, you can go into a Normal Account. It is also very useful if you have not got enough money to risk at the moment you start trading, you can increase your funds in a Cent Account until you have enough to go into a Normal Account.
