Live Cent FX Review 2024

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What is Live Cent FX?

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Live Cent FX is a platform that operates in the realm of forex trading. It offers users the opportunity to trade a variety of financial instruments, including stocks, forex, and cryptocurrencies. However, it’s important to note that Live Cent FX has been flagged as having a high potential risk. This is due to the fact that it currently lacks valid regulatory information. As such, potential users are advised to be aware of the risks associated with using this platform. Live Cent FX’s platform is registered in China. , and it has been in operation for 1-2 years. Despite the lack of regulatory information, the platform continues to offer its services to traders. Users interested in using Live Cent FX can open an account via their website. However, the platform does not provide any restriction on the broker account. It’s worth noting that while Live Cent FX operates in the forex market, it’s always crucial for traders to conduct thorough research and consider the potential risks before engaging with any trading platform.

What is the Review Rating of Live Cent FX?

Forexbrokersinfo.com is regularly checking the ratings of Live Cent FX at forex broker review sites.
Live Cent FX has been reviewed and rated by:
    The Weighted Average Review Rating calculated by Forexbrokersinfo for Live Cent FX is 0.

    What are the Pros of Live Cent FX?

    Live Cent FX is a type of forex trading account that is designed to be beginner-friendly and has a low minimum deposit requirement. Here are some of the advantages of using a Live Cent FX account:. Low minimum deposit: Live Cent FX accounts usually require a low minimum deposit, making it easier for beginners to start trading in the forex market. Low risk: Trading with a Live Cent FX account is considered low risk compared to other accounts because even if it feels like trading with huge capital, you actually don’t put that much money in the open. This is because the account measures the balance with cents instead of the usual US dollars. For the record, 1 US dollar = 100 cents. As a result, if the minimum lot required is 0.01 lot, then it is equal to 1.000 cents (10 US dollars) only. By using cents instead of dollars, traders will get accustomed to seeing big numbers on their accounts. Beginner-friendly: Live Cent FX accounts are designed to be beginner-friendly with minimum requirements. This account type was first introduced to help traders who just started their trading journey with small capital. As the name suggests, the main characteristic of a cent account is that it measures the balance with cents instead of the usual US dollars. For the record, 1 US dollar = 100 cents. As a result, if the minimum lot required is 0.01 lot, then it is equal to 1.000 cents (10 US dollars) only. So by depositing only a small amount of money, you can enter the market and start trading. Some brokers don’t even specify the limit on how low the deposit can be. Testing and developing your trading strategy: Live Cent FX accounts are excellent for testing and developing your trading strategy. By making use of the low-risk advantage, you can try different trading strategies while simultaneously sharpening your trading abilities and gaining new experiences. . Please note that Live Cent FX accounts also have some disadvantages such as low profit margins and limited trading options. It is important to carefully consider which broker to choose along with the trading account that they offer because it can directly affect the way you manage your balance. As a trader, it is vital to learn the specification for each type so you can decide which one matches your needs.

    What are the Cons of Live Cent FX?

    Live Cent FX is a type of forex trading account that measures the balance with cents instead of the usual US dollars. While it offers several advantages, particularly for beginners and those with small capital. , there are also some potential drawbacks to consider:. Regulatory Status: One of the significant concerns about Live Cent FX is its regulatory status. It has been verified that this broker currently has no valid regulation. This lack of regulation can pose a high potential risk to traders as there is no governing body to oversee its operations and ensure it adheres to fair trading practices. Profit Potential: While the risk is considered low compared to other accounts because even if it feels like trading with huge capital, traders actually don’t put that much money in the open. However, this also means that the profit potential is relatively low. Although the profit won’t be spectacular and probably insignificant to your overall balance, it is still better than getting nothing. Trading Experience: The use of cents instead of dollars might give traders the illusion of trading with a larger capital than they actually have. This could potentially lead to a false sense of security and may not accurately reflect the realities of trading with a standard account. . In conclusion, while Live Cent FX can be a good starting point for beginners, it’s important for traders to be aware of these potential drawbacks. It’s always recommended to do thorough research and consider all factors before choosing a forex broker.

    Is Live Cent FX Regulated and who are the Regulators?

    The specific information about whether Live Cent FX is regulated and who the regulators are could not be found. However, it’s important to note that the regulation of Forex brokers is a critical issue in the financial market. Forex brokers with Cent accounts are not widely available among the market offering, and most are now based offshore. The crucial point of a broker’s regulatory status remains a priority, and it’s recommended to check only regulated forex brokers. In the U.S., for instance, only regulated entities, such as banks, insurance companies, broker-dealers or futures commission merchants, and affiliates of regulated entities may enter into off-exchange forex trades with retail customers. Two major regulatory agencies in the U.S. are the Commodities Futures Trade Commission (CFTC) and the National Futures Association (NFA). The CFTC protects market users and the public from fraud, manipulation, and abusive practices related to the sale of commodities and financial futures and options. The NFA is an industry-wide self-regulating organization that regulates the futures market in the United States. It’s always advisable to verify the regulatory status of any Forex broker before engaging in trading activities. This helps to ensure the protection of your investment and adherence to fair trading practices.