Can I Start with $5 for Cent Account? - Can I Start with Just $5 for Cent Account? - How to Open Account with $5
For beginner traders wanting to start trading with $5 dollars, the Cent account provides them with best account type - Open Account with $5 dollars - Open a Live Account with $5 dollars.
The Cent account is a account type where the traders execute trades using Cent lots, Cent lots are equal to 100 Units of base gold. This Cent lots are fraction of the standard lots. Traders transacting using Cent Account can make a small deposit for examples $5 dollars deposit & use leverage provided by the Cent account to trade the Cent lots.
For example, with the leverage option of 100:1, a trader can borrow $100 dollars from their broker for each $1 dollar in their account - meaning if they have $5 in their account - they can borrow $5*100:1 leverage = $500 dollars after leverage. Traders then can use this $500 dollars in their margin trading account to open and trade Cent contracts.
To learn more about leverage & margin trading account - Read the following gold guides:
Study More Tutorials:
- Standard Gold Account & Micro XAUUSD Account
- What's the Minimum XAU USD Volume for a Cent XAU USD Account?
- XAU USD Platform Software Profiles & Saving a Gold Workspace Profile in MT4 Software
- How Can I Activate a Gold MetaTrader 4 Trading Expert Advisor EA in MT4 Software?
- Advanced Gold Candlestick Patterns Tutorial Course
- How Leverage Increases XAUUSD Profits & Losses
- Technical Analysis of Bollinger Bands Technical Indicator
- Entry Stop XAU/USD Orders: Buy Stop XAU/USD Order vs Sell Stop XAU/USD Order