In this video we want to talk about how to trade small accounts and how to manage risk so let’s find out how to do that.
If you open the “Navigator” on your Metatrader and go to the “Accounts” section you most likely already see one of these green accounts here, this one is yellow because it’s a real account, the account number is: 5289348, this is the “Members Area” of one of my favorite brokers and when I want to open a new trading account I can pick if I want to use Metatrader 4 or Metatrader 5, and one of the account types here is called: “Pro-Cent”.
I can pick US Dollar or Euros, this one still offers leverages go up to 1 to 2,000, usually I trade 1 to 500, now I can pick a password for myself and one for the investor.
This investor password comes in handy later on for my statistics.
I could also pass an affiliate code here and this is how my account looks like and you will notice that it is traded in US Dollar cents, so what actually does that mean?
Well, if you look to the left side you can see that I have made a deposit, the deposit was 300 Dollars, I can use all those money services here but there is also the option to do an internal transfer, so now I can pick my account, transfer money to one of the other accounts and this one has a balance of: 30,629 US Dollar cents, here is the account balance and it says: 30,629 US Dollars, I’m actually trading this account live with my real money but I didn’t need to invest 30,000 Dollars I just invested 300 Dollars for this account, so when you move from your demo account to a real account you can pick a cent account, invest 300 to 500 Dollars and that would become 30,000 cents or 50,000 cents that are actually traded within Metatrader like Dollars.
That makes trading much more scalable because I can now trade all these positions here and I still have a free margin of 29,726 cents.
There are some brokers who might offer cent accounts for you, this one is the one that I have used in this case, I don’t know if this website is updated on regular bases but you might be able to find out yourself.
You should be able to find a broker that offer cent accounts for your country and that’s a good way to trade real money under real conditions, you will make real profits and you will pay real fees, this is the account statistics on FX Blue, I would encourage you to use a statistic service right away.
Today is April the 23rd, so far the account is performing well so now you know how to set up a cent account and do a lot of trades with real money even with a small budget and in this little video you have learned how to set up a cent account in a few minutes.