If you're looking for a trading account that offers a low minimum deposit, low spreads, fast execution, and a wide range of trading instruments, the HFM Cent account may be worth considering.
In this comprehensive review, we'll take a closer look at the features, fees, pros and cons of the HFM cent account to help you decide if it's the right choice for your trading needs.
What is the HFM Cent account?
The HFM Cent account is a type of trading account offered by HF Markets (formerly Hotforex) that allows traders to trade with cent lots.
One Cent lot is equal to 0.01 Standard lot or 1000 units. With margin requirements as low as 10 US cents, the HF Markets cent account is ideal for novice traders looking to switch from a Demo account to real trading.
Experienced traders can also use the Hotforex cent account to try new strategies or explore a new asset while risking a small amount of capital.
With the Hotforex Cent account, traders benefit from low spreads, low minimum deposits and fast execution.
The Hotforex cent account allows traders access to a wide range of trading instruments, including forex, commodities, and indices.
How To Open An HFM Cent Account: Step-By-Step
Opening an HF Markets Cent account is easy. Simply follow these steps.
- Visit the HFM Cent account creation page here.
- Click on ”Ópen Cent Account‘ and enter your details.
- Verify your email and put further personal details
- Upload your verification documents and fund your account to start trading
Features Of The HFM Cent Account
|🏦 Account Name||HFM Cent Account|
|📱Trading Platform||MetaTrader 4 & Metatrader 5|
|💵 Spreads:||From 1 pip|
|Types of assets traded||Forex, Metals, energies, Shares, Indices, Bonds, Commodities, DMA Stocks, ETFs|
|📊 Minimum trade size:||0.1 Lot|
|💷Account currencies||USD, ZAR, JPY|
|💳Payment methods||Skrill, Neteller, Debit Card, Wire Transfer, Credit Card, fasapay, Vload, Webmoney|
|❇Is scalping allowed?||Yes|
|🔔Margin Call / Stop out level:||50% / 20%|
|Is PAMM supported||Yes|
|📊Trade size increment:||0.01|
|💹Maximum Simultaneous Open Orders:||15|
|💹 Maximum Total Trade Size||200 Cent lots|
|💼Personal Account Manager:||yes|
|♻Is CopyTrader supported?||Yes|
Pros of the Hotforex Cent Account
- Flexibility to trade with cent lots.
- Leverage up to 1:2000 and zero commission.
- No minimum deposit
- Regulated by multiple financial authorities
- Access to a wide range of trading assets
- Swap-free trading available on select instruments
- Ability to develop your trading strategies and test expert advisors with minimal investment.
Cons Of The HF Markets Cent Account
- High leverage may amplify losses and may not be suitable for all traders
- Not available in some countries
- Higher spreads than other account types
Should You Use The Hotforex Cent Account?
When deciding whether or not to open a HF Markets Cent account, consider the following:
- Your trading experience: If you are a beginner, a cent account may be a good option to learn the ropes and test your trading strategies without risking too much capital. However, if you are an experienced trader, you may want to consider a different type of account with larger lot sizes and more features.
- Your trading goals: If you are looking to make a quick profit, a cent account may not be the best option for you. However, if you are looking to learn and improve your trading skills on a live account, a cent account can be a great way to start.
- Your budget: HF Markets Cent accounts are designed for traders who want to enter the forex markets with a small investment. However, if you have more money to invest, you may want to consider a different type of account with more features and benefits.
Frequently Asked Questions On The Hotforex Cent Account
It is a type of trading account that is designed for beginner traders who want to start with a small amount of capital. The HFM Cent account allows trading in cent lots.
The HFM (Hotforex) cent account has no minimum deposit making it easily accessible to traders.
The HFM Cent account has no minimum deposit, high leverage,
Yes, the HF Markets cent account is a great option for beginners who want to start trading with a small amount of capital. It offers access to a wide range of trading instruments and allows you to trade in smaller increments, which can help you manage your risk more effectively.
The Hotforex cent account offers access to the same trading instruments as other account types, including forex, commodities, and indices.
Visit the HFM Cent account opening page and click on the “Open Account” button. You will then be asked to provide some basic personal information and to choose your account type. Once you have submitted your application, you will be able to fund your account and start trading.
Small lot sizes can lead to overtrading. You will also be exposed to the same market risks as with other account types.
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