HFM Cent Account Review: Start Trading With A Small Deposit 🧾

Having utilized the HFM Cent account for a substantial period, I can confidently provide an informed review of its features and performance. In this comprehensive review, I will 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, provided by the forex and CFD broker HFM, is designed specifically for those new to forex trading or who prefer lower risk levels. This account type allows trading in cent lots, making it ideal for traders looking to minimize financial exposure while gaining market experience.

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, no minimum deposit requirement and fast execution.

The Hotforex cent account allows traders access to a wide range of trading instruments, including forex, commodities, and indices.

What is 0.01 Lot Size in Cent Account?

The trade volume of 0.01 lots in a cent account is the smallest trade size available. In a cent account, 0.01 lot size represents 10 units of the base currency, which is equivalent to 1 nano lot.

Thus, each 0.01 lot size in a cent account corresponds to 1,000 units of currency denominated in cents, allowing traders to manage their risks more effectively by trading with much lower financial exposure.

In a cent account, a 0.01 lot size equates to trading 10 units of the base currency, also termed as 1 nano lot. This reduced trade volume significantly lowers the financial risk, as the monetary value of each pip movement is much smaller.

Such a setup is particularly advantageous for beginners or those experimenting with new strategies, as it allows them to minimize risk while learning the dynamics of forex trading.

In comparison, a standard account lot size of 0.01 corresponds to 1,000 units of the base currency, known as a micro lot. In this scenario, each pip movement carries a higher monetary value than in a cent account, which elevates both the potential profits and losses from the trade.

This type of lot size is better suited for traders who are more experienced, willing to accept higher risks and have a larger capital base to manage these risks effectively.

What Is The Best Leverage for HFM Cent Account?

The best leverage for the HFM cent account typically depends on the trader's risk tolerance, experience, and trading strategy.

From my experience, the best recommendation for beginners using Cent accounts is to start with lower leverage to minimize risk while gaining experience.

Leverages such as 1:100 or 1:200 are good to start with because they provide enough exposure to market movements without the excessive risk associated with higher leverage levels.

Ultimately, the choice of leverage should align with your understanding of risk management and your trading goals.

How To Open An HFM Cent Account: Step-By-Step

Opening a Hotforex Cent Account is a straightforward process designed to get traders started quickly and efficiently. Here’s a step-by-step guide on how to open this type of account with HFM:

Step 1: Visit the HFM Cent Account Sign Up Page

Visit the HFM Cent account creation page. Click on  ”Open Cent Account”

Step 2: Enter your details

Enter your details including your country of residence, email and password. Read and accept the privacy conditions and click on ”Register”.

Step 3: Verify Your Email

You will receive an email from HFM. Open this email and click on the verification link to continue.

Step 4: Complete your profile

Complete your profile by providing personal details such as your name, gender, phone number, and country of birth. You must also select your date of birth and the default base currency for your HF Wallet. The base currency cannot be changed later so choose carefully.

Step 5: Verify Your Account

Upload the required documents to verify your identity and residence. This typically includes a government-issued ID (like a passport or driver’s license) and a recent utility bill or bank statement.

Step 5: Fund Your Account

After logging into your HF Markets dashboard, navigate to the deposit section to add funds. You can choose from several payment methods, including bank transfer, credit card, or online payment systems like Skrill or Neteller. Follow the on-screen instructions to complete your deposit.

While the HF Markets Cent account may not require a minimum deposit, it's important to ensure you have enough funds to cover the margins for your intended trades.

Step 6: Start Trading

Once your account is funded, download and install the trading platform supported by HotForex, such as MetaTrader 4 or MetaTrader 5. Log in using the credentials you set up during registration.

You're now ready to start trading. You can open and manage trades in forex, commodities, and indices without the concern of spreads affecting your transactions.

You can test the conditions of the HFM Cent account by opening a demo version.

Features Of The HFM Cent Account

🏦 Account Name	HFM Cent Account
📱Trading Platform	MetaTrader 4 & Metatrader 5
💵 Spreads:	From 1 pip
💳Minimum deposit	$0
🏋️‍♀️Maximum Leverage	1:2000
💶Commission	❌ No
Types of assets traded	💷Account Currencies
📊 Minimum trade size:	0.1 Lot
🎮Demo account	Yes
🚅Execution:	Market Execution
💷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?

HFM Cent Account vs Competitors

HFM Cent Account vs Exness Standard Cent Account

The HFM Cent Account and Exness Standard Cent Account are designed for lower-risk trading but differ in minimum deposits and leverage. HFM Cent Account offers a more conservative leverage of up to 1:2000, suitable for new traders managing risk, whereas Exness provides unlimited leverage, which can appeal to traders looking for significant trading power.

Additionally, Exness has a minimum deposit of $10 compared to the HFM cent account which has no minimum deposit requirement.

HFM Cent Account vs FBS Cent Account

he HFM Cent Account and FBS Cent Account both cater to traders seeking low-risk entry into forex markets but differ notably in terms of minimum deposit and leverage.

The HFM Cent Account offers leverage of up to 1:2000 and has no minimum deposit requirement. In contrast, the FBS Cent Account allows leverage up to 1:1000 and requires a minimum deposit of just $1, making it extremely accessible for beginners.

This low entry barrier and high leverage make the FBS Cent Account particularly attractive for new traders looking to start with minimal investment while providing the flexibility to handle a wide range of trading instruments, including Forex, metals, and stocks​

HFM Cent Account vs RoboForex Cent Account

The HFM Cent Account and RoboForex Cent Account, known as the ProCent Account, are both designed for novice traders but differ in their financial entry requirements and leverage.

RoboForex's ProCent Account requires a minimum deposit of $10 and allows trading in denominated monetary units like US Cent, providing an approachable platform for beginners and professionals to test strategies with minimal financial risk. RoboForex offers leverage up to 1:2000, which is just the same as HFM.

HFM Cent Account vs BD Swiss Cent Account

Comparing the HF Markets Cent Account with the BD Swiss Cent Account reveals differences primarily in leverage and minimum deposit requirements. BD Swiss offers a Cent account with a minimum deposit starting from $10, which is relatively low and accessible.

Furthermore, BD Swiss provides a high maximum leverage of up to 1:2000, offering traders significant potential to control large positions with a relatively small amount of capital.

Frequently Asked Questions On The Hotforex Cent Account

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