14:40 GMT+3 / 19.06.2024
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NPBFX has launched a cent account. What did the testing of the conditions show?

NPBFX

Not so long ago our information partner broker NPBFX launched a cent account. For many customers, this was a pleasant event, and given the high level of loyalty from the company, it was also expected.

Some novice traders will probably ask questions:

- why do I need a cent if I have a regular one?

- what is the difference between these two types of accounts?

In this article, we not only set out to answer these questions, but also conducted a REAL test of a cent account in NPBFX with our own money. So, in order.

What is the difference between a cent account and a standard "real"

The most important difference between a cent account and a standard one is that the cent account balance is displayed in cents. This means that if you top up your standard real account with $ 100, you will see $ 100 on your balance. Having replenished a cent account for $ 100, you will already see 10,000 USC on the balance, i.e. 10 thousand cents. Novice traders also often face difficulties in calculating the cost of 1 point of price movement. Let's look at the example of trading the EURUSD pair.

- Standard invoice. When opening a buy/sell transaction with a volume of 0.1 lots, 1 point of quotation movement will be equal to 1 US dollar.

- Cent account. When opening a buy/sell transaction with a volume of 0.1 lots, 1 point of quotation movement will be equal to 1 cent.

As for other differences between the accounts, they are less significant. This may be a different amount of margin leverage, the minimum trading lot and other differences in trading conditions.

What tasks does a cent account solve for a trader

As we noted at the beginning of the article, beginners often ask the question - why do you need a cent account when you can just trade on a standard one, replenishing it with a small deposit? In addition, there is an opinion that a cent account is traded only by those who do not have money to open an account with a more or less normal deposit. The tasks that a cent account solves in trading will help answer all questions and dispel myths. They can be divided into two categories: psychological and commercial.

NPBFX

1. Psychological tasks. Do not underestimate the role of psychology in trading – it has an important role. Traders face serious emotional stress, stress, psychological problems, which often lead to mistakes and loss of the deposit. A cent account helps to cope with some difficulties perfectly:

- Assistance in adapting to real money trading. It can be very difficult for beginners to switch from a demo account where virtual money is traded to a real account. Experienced traders often recommend starting immediately with trading on a cent account. This helps to develop stable trading faster, get used to the feeling that all transactions are carried out with real money. In addition, in case of errors, losses will be minimal.

- Psychological "addiction" to trading a large amount of money is not a deposit. There are also novice traders who come to the market with large capitals. After learning and building a trading strategy, they open a trading account and replenish it with a round sum. However, when it comes to opening deals, the trader begins to feel fear, because the money is already real and losses can be very painful. It was quite another thing not to trade demo. Sometimes it is a whole complex of negative psychological factors that put pressure on the trader. As a result, incorrect actions, abandoning your trading strategy and erroneous money management lead to the loss of the deposit. A cent account helps you get used to a large amount on the balance in the terminal. Having made a deposit of only $ 100, 10,000, even cents, will be present on the balance. A trader can safely trade according to his strategy without fear of losing a large amount, and adapting to the numbers, smoothly switch to a standard account.

2. Trading tasks. A cent account allows a trader to perform two important tasks:

- Testing a "manual" trading strategy. You will be able to test your trading strategy on the real interbank market, see the broker's execution and other trading conditions live.

- Testing an automated trading system.The cent account is great for testing any Expert Advisors, trading robots on the real market with live money. Many traders purchase a VPS for testing, install a trading platform with an Expert Advisor on it, and conduct testing. If it is successful, they open a standard account and deposit the fixed capital.

Testing the NPBFX – Standard Cent Cent account

The theory has been sorted out, and now let's move on to the test we promised. But first we suggest you get acquainted with the trading conditions of the Standard Cent account:

Minimum deposit: 10 USD
Spread: from 1.4 points
Commission for trade turnover: 0%, no
Maximum leverage: 1:1000
Trading instruments: currencies, precious metals, commodities

NPBFX

As you can see, the conditions are quite interesting, but most importantly, they allow you not only to try trading with a broker on a real account, but also to test any trading strategies, including pipsing. For the test, we opened a Standard Cent account in NPBFX, replenished it with $ 100. The opening of trade deals was carried out both in a calm market, there and during the release of serious economic news. Trading was conducted manually and with the help of the Bio V1.0 trading robot. We will immediately start with the results and demonstrate the history of transactions, and then we will understand their execution in more detail by analyzing the log in MT4.

NPBFX

Testing the Standard Cent Cent account from NPBFX

1. Manual trading in a quiet market. Currency pair USDJPY

NPBFX

USDJPY transaction opening rate: 672 ms (0.672 s)

NPBFX

USDJPY transaction closing rate: 532 ms (0.532 s)

2. Manual trading during the release of the US Federal Reserve interest rate decision. Transactions in gold and Brent crude oil.

XAUUSD transaction opening rate: 784 ms (0.784 s)

NPBFX

XAUUSD transaction closing speed: 602 ms (0.602 s)

NPBFX

XBRUSD transaction opening rate: 632 ms (0.632 s)

NPBFX

XBRUSD transaction closing speed: 535 ms (0.535 s)

NPBFX

3. Automatic trading using Bio V1.0. The GBPUSD currency pair. Take Profit settings – 15 points.

NPBFX

NPBFX

GBPUSD transaction opening speed: 804 ms (0.804 s) taking into account the order modification. Closing upon reaching TP.

NPBFX

4. Automatic trading using Bio V1.0. Currency pairs (selectively) USDCHF, GBPUSD, AUDUSD and USDCAD. Take Profit settings are from 1 to 4 points, depending on the current spread for the pair.

NPBFX

The speed of opening a USDCHF transaction: 1037 ms (1,037 s), taking into account the modification of the order. Closing upon reaching TP.

NPBFX

The speed of opening a USDCAD transaction: 751 ms (0.751 s), taking into account the modification of the order. Closing upon reaching TP.

NPBFX

GBPUSD transaction opening speed: 202 ms (0.202 s) taking into account the order modification. Closing upon reaching TP.

NPBFX

AUDUSD transaction opening speed: 813 ms (0.813 s), taking into account the modification of the order. Closing upon reaching TP.

What can I say about NPBFX Standard Cent? Excellent! Testing has shown that the speed of execution on the NPBFX broker's cent account allows not only to trade manually without problems, but also to use any automatic trading systems. Even such an algorithm-complex Bio V1.0 pipser, which uses constant modification of the TP level depending on the spread change in real time, shows amazing results. We can definitely recommend Standard Cent to all categories of traders

How to open a cent account in NPBFX

If after reading the article you decided to try trading on a cent account at NPBFX, we offer a simple algorithm that we tested ourselves.

1. Register on the website NPBFX.

2. After registration, a letter with data for access to the client's Personal Account will be sent to your e-mail.

3. After entering the LC, select "Open a trading account" in the menu, then the account type "Standard Cent". Here you will be asked to choose the margin leverage on the account.

4. After opening a cent account, you can top it up with one of the convenient payment methods:

In conclusion, we would like to emphasize that it is not enough to choose the right trading account for effective Forex trading, it is important to open it with a reliable broker. Our partner – the international broker NPBFX (NEFTEPROMBANKFX) is just such a company. NPBFX has been providing financial services since 1996, providing its clients with direct access to Tier 1 interbank liquidity. With NPBFX broker, the conflict of interests between the company and the client is completely excluded!

28 December 2022
RISK WARNING
Conducting trading operations in financial markets with margin financial instruments has a high level of risk and can lead to losses and loss of investment funds. When starting trading, make sure that you are fully aware of all the risks, as well as have the appropriate knowledge and experience for trading.

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