I’m relatively new to forex (about two months in) and I’m trying to figure out which RoboForex account to open. I’ve been paper trading mostly, and now I want to move to a real account with real money, even if it’s small.
My situation is that I don’t have much capital to start with—maybe $500. So the Cent account feels obvious because the minimum deposit is lower and I can keep position sizes small while I learn. But I’ve read that some traders jump straight to a Standard account because it’s more “realistic” for learning proper risk management.
The other thing I’m thinking about is my trading style. Right now I’m testing a strategy that involves holding positions for a few hours or a day, sometimes longer. I’m not scalping or anything super frequent. So maybe Standard makes more sense?
I’m also wondering if rebates matter at this stage. I know GlobeGain provides cashback, but with a small account and low volume, does it actually add up to anything meaningful?
I guess my core question is: as a beginner, should I optimize for lower costs upfront (Cent account), or should I pick an account type that actually matches how I want to trade (Standard), even if spreads cost more? Does the rebate situation change the math for someone starting small?
Choose based on your strategy, not your budget. Here’s why.
Cent accounts are marketed for beginners, but they create bad habits. You learn risk management with unrealistic position sizes. A 0.1 lot on a Cent account feels tiny. You eventually move to Standard or Pro ECN, and suddenly your risk management breaks because lot sizes feel different.
Start with Standard. Yes, spreads cost more. But you learn with realistic numbers. A Standard account on $500 is tight, but it teaches you discipline.
For holds of hours or days, Standard spreads don’t matter as much as they do for scalping. Your strategy fits Standard well.
Rebates: At $500 account with moderate volume, expect $5-15 per month. Not game-changing, but it adds up over a year. Don’t let rebates drive your decision though.
Recommendation: Open Standard with $500. Trade small (0.01-0.05 lots). Focus on consistency, not profits. When you hit $1000, reassess whether you want to increase size or stay disciplined.
Started exactly where you are. $400 account, no experience. Made the mistake of opening a Cent account.
Here’s what happened: I felt like I could take bigger risks because the lot sizes were so small. Lost my first $400 pretty quickly learning that leverage works the same way on Cent accounts as everywhere else.
Opened a Standard account with $500 next (borrowed from savings). The spreads felt painful at first because the cost per trade was visible. That pain was actually useful. It forced me to only take high-probability setups instead of trading every little move.
My hit rate and winners grew better because I was selective. The rebates from GlobeGain helped offset some spread costs, but the real win was the discipline the Standard account forced on me.
If I could do it again, I’d skip Cent entirely and go straight to Standard from the start. The psychology of realistic costs is worth more than the cheaper spreads.
For your situation, I’d go with Standard. Your strategy of holding for hours or days fits that account type naturally. You don’t need super tight spreads for longer-term trades.
The $500 is tight, but it’s workable. Just keep positions small (0.01-0.05 lots) and focus on not losing the money rather than trying to make profits right away.
Rebates will help a bit, but don’t count on them. They’re a bonus, not part of your trading plan.
Standard better for learning. Cent creates wrong habits.
Standard if you hold positions. Cent just delays the real lesson.
One practical tip I learned: before opening a real account, actually calculate what the monthly cost would be. Track your paper trading volume and multiply it by the Standard spread on your main pairs. See if your $500 account can absorb that cost while you’re learning.
I did this calculation and realized my early trading volume would cost about $30-40 per month in spreads. That’s 6-8% of my account monthly. That number was sobering and actually helped me trade better because I became more selective.
Do the same math for yourself. It’ll give you real perspective on whether $500 is enough for YOUR strategy, not just in theory.