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Overview

ForexCent is the official representative of the brokerage company LiteForex, providing traders from all over the world with quality services in the field of Internet trading.

Many educational materials are published on the official website of the ForexCent, including books of famous financiers, which can help novice traders to learn all the intricacies of trading on the foreign exchange market, as well as money management rules. In addition to learning materials, the broker has published a large number of technical indicators and Forex expert advisors with which traders can get acquainted or use them, if desired, for trading on the highly liquid Forex market.

Clients of the broker have the right to get a variety of Forex deposit bonuses, including no deposit bonus, which is issued while registering on ForexCent. Besides, contests for traders are held on the site of the broker both on real and demo accounts, where users can win a lot of money for increasing a trade turnover for a certain period of time.

Bonuses

On its website ForexCent organizes for traders various promotions, where they may receive no deposit Forex bonuses, deposit bonuses, as well as take part in various contests with good cash prizes.

No deposit 500 bonus is available for all new customers of the ForexCent absolutely free of charge. The bonus can be used for trading on the currency market. It is not designed to be withdrawn, but the entire earned income exceeding $1 is available for withdrawal.

Bonus funds can be used for trading on the following conditions:

- level 1 - 100 cents on the balance - leverage is 1:20, Forex expert advisors are prohibited

- level 2 - 300 cents on the balance - leverage is 1:50, Forex expert advisors are prohibited

- level 3 - 500 cents on the balance - leverage is 1:100, Forex expert advisors are allowed

- level 4 - available after making a deposit - leverage is 1:200

- level 5 - available after making a deposit - leverage is 1:500.

Forex 33% bonus from the broker is available for new customers and ranges from 10 to 1,000 dollars. Bonus money can be received after replenishment of the deposit and sending an application form to employees of the broker. Bonus funds will be credited to the personal account of the trader after approval of the application and they can be used for trading on the Forex market. Traders can also withdraw the Forex bonus from the account by satisfying the conditions of the broker, i.e. closing a trading volume that is equal to 33% of the credited sum.

Forex 20% bonus is provided to all customers of the ForexCent, and the rules of its receiving and withdrawal from the account are similar to the Forex 33% bonus.

The contest on demo accounts is held by the broker every week. All traders have the right to take part in it. According to the rules of the contest, all participants obtain a startup capital that comprises $10,000. They can trade any currency pair with leverage of 1:100 with the maximum lot of 1, and the maximum number of orders should not exceed 10. At the end of the contest traders, who have gained the greatest profits, are awarded with cash prizes.

Distribution of the prize pool:

- the1st place - Forex bonus is $50

-the 2nd place - Forex bonus is $30

- the 3rd place - Forex bonus is $20.

Cash prizes are the property, and they are given to winners for a period of one week in order to increase a trade turnover on the foreign exchange market, obtaining greater profits. Cash prizes are removed from the accounts of traders at the end of a week and profits, earned with the help of them, belong to customers.

The contest on real accounts Real ForexCent Prince is held by the broker on a regular basis, and customers who fund their accounts in the amount not less than $5 can sign up for it. Trading is carried out on real accounts with leverage of 1:100, and winners are traders, who have earned on the Forex market the highest profit in percentage.

Distribution of the prize pool:

- the1st place - Forex bonus is $200

-the 2nd place - Forex bonus is $50

- the 3rd place - Forex bonus is $20.

Prize money is accrued to a special prize account and can be used to trade currency pairs during the week. Winners receive the entire profit that is earned using prize money and prize money will be nullified.

Training

ForexCent offers novice traders to master Internet trading with the help of books about the foreign exchange market and video tutorials.

Users find a large library of books about the Forex market, including the following:

- Dealing for beginners by Yu. Zhvakolyuk

- Small Encyclopedia of Trader by E. Naiman

- The Disciplined Trader: Developing Winning Attitudes by M. Douglas

- The Candlestick Course by S. Nison

- How I Play and Win at the Stock Exchange by G.Smith

- The New Market Wizards by D. Schwager

- Technical Analysis: Full course by D. Schwager.

- Trading Chaos: Maximize Profits with Proven Technical Techniques by J. Williams and B. Williams

- The Education of a Speculator by V. Niederhoffer

- Technical Analysis from A to Z by S.B. Achelis

- Principles of Professional Speculation by V. Sperandeo

- The Psychology of Finance by L. Tweed

- Trading with Dr. Elder. Encyclopedia of Stock Exchange Speculation by A. Edler

- Mental Trap: Nonsense that Make Reasonable People to Ruin Their Life by A. Kukla

Video tutorials:

- how to sign up in the ForexCent

- how to open a trading account in the Forex broker

- how to change leverage

- how to install the trading platform MT 4

- how to open trading orders on the foreign exchange market

- how to close orders on the Forex market

- how to verify an account

- how to fund a trading account

- how to withdraw earned funds.

In addition, Forex glossary and two immense libraries are available on the site of the broker, one of which contains the popular Forex indicators and the second one has expert advisors for automated trading.

After studying educational materials, traders can open a demo account, which allows them to trade on Forex using real foreign exchange rates and to use virtual money that will protect them from losing their own funds. The demo account is also an indispensable tool for testing new technical indicators or Forex expert advisors.

Terms of trading

ForexCent offers the following trading conditions for traders:

- the foreign currency account (the base currency)

- no minimum deposit

- the leverage is from 1:1 to 1:500

- a lot of currency pairs

- spread is fixed from 2 points (the floating one is from 0.4 points)

- no commission fee.

MetaTrader 4

- multi-language support

- a wide range of Forex indicators from the main database

- addition of new indicators (including indicators from the database of the broker)

- order execution - Instant Execution

- one click trading

- quotes export via DDE

- chart printing.

WebTrader

- multi-language support

- trading through the broker's website without downloading a client program

- trading charts

- tools for analysis

-one click trading.

ForexCent offers traders the following accounts for trading on the foreign exchange market:

- Micro

- Real Forex.

Trading account Micro:

- the minimum deposit is $1

- the maximum deposit is $500

- the leverage is from 1:100 to 1:500

- the minimum lot size is 0.01

- the maximum lot size is 10

- Margin Call is 30%

- Stop Out is 15%

- locked margin is 50%.

Trading account Real Forex:

- the minimum deposit is $10

- the maximum deposit is unlimited

- the leverage is from 1:50 to 1:200

- the minimum lot size is 0.01

- the maximum lot size is 50

- Margin Call is 60%

- Stop Out is 30%

- locked margin is 50%

- annual interest rate on idle funds is 6%.

Forex indicators (recommended)

- Fisher

- Steinitz Fractal Breakout

- Schaff Trend Cycle

- Super Signals Channel

- Range Expansion Index.

Forex expert advisors (recommended)

- Goodwine (an automated Forex expert advisor, designed specifically for trading currency pairs at short-term distances, as it uses the technical indicator WATR for analysis)

- PipLaser 1.02 (an automated Forex expert advisor, which performs analysis of the currency market using indicators Fractals and Moving Average, and does not require settings, that is a big disadvantage for novice traders)

- Binario (an automated Forex expert advisor, which uses moving averages for market analysis, and it is able to trade on the Forex market in any time frames).

Investments

Currently ForexCent does not allow clients to invest funds in professional managers, who work through special PAMM-accounts. Clients can independently make agreements concerning investment with successful traders. They can be found by rating that is regularly updated by the broker. But in this case the investors bear the full responsibility.

Unique features

Forex calculator can be distinguished among the unique features of the ForexCent. Forex Calculator allows traders to calculate quickly the point cost of a certain currency pair, as well as margin, required for trading.

Broker offers its traders to become its partners and earn money by referring new customers. ForexCent is willing to pay up to 1.5 spread of the referrals' transactions. Please contact for more information the employees of the broker, who will help with registration in the program and provide all the necessary advertising materials.

Add/withdraw funds

ForexCent provides customers with the following methods for depositing and withdrawal of funds from trading accounts: WebMoney, LiqPay, OkPay, Perfect Money, Liberty Reserve, and bank cards MasterCard and Visa.

Contacts

ForexCent provides the comprehensive support to its traders through online chat and a feedback form, located on its website.

Cons and pros

+ the fast growing broker

+ the minimum deposit is $1

+ small spread

+ good leverage

+ a lot of learning materials

+ many promotions and contests.

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