Before opening an account at the Exness platform, I have interesting information to share with you. That is, Exness does not regularly implement massive advertising programs but it is always the most popular and reliable name on the Forex market both domestically and internationally.
So why? We’ll dedicate that to the next article. In today’s article, I will introduce you to the details of Exness account types, and if you are a beginner, which type of account you should open.
Available Exness account types
Currently, Exness offers 4 main types of accounts:
- The first is the Exness Standard Cent
- Next is the Exness Standard
- Exness Pro
- Finally is the Exness Zero account
In this article, I will not cover the Demo account. This is because it is best to focus on the real account to get the best real combat experience.
Standard Cent account
Exness is offering one type of account that can help you solve your beginner’s problems, the Standard Cent account. It gives traders real feeling, real experience of spread, price volatility, slippage. Trading with a real account will help you understand what Forex risk is.
Actually, there aren’t many platforms offering small accounts like Standard Cent. With Exness, it’s a different story. I will point out a few reasons for you to choose this type of account.
- You only need 1 USD to open a Standard Cent account. That is the reason why this account is suitable for novice traders who want to experiment and get used to Forex trading.
- Exness allows you to open orders for as little as 0.01 cents, which is $0.0001. This is considered the most attractive and lowest fee. Of course, you can’t find this offer on any other platforms.
- A Standard Cent account allows very high leverage, even up to unlimited. With high leverage, you will pay less on the margin and keep the position longer with a low margin.
Exness Standard is a suitable account for everyone. This includes new and experienced traders. In Exness, about 80% of traders open this type of account.
If you are wondering why Exness Standard attracts traders so much, check out the reasons below:
- You only need only $1 of deposit to start participating in trading.
- The minimum trading volume is $0.01.
- The spread is really low, about 1 pip for major currency pairs.
- In Asia, leverage is not limited. This is a great advantage of Exness which is highly appreciated by professional traders.
- Similar to Standard Cent and Pro accounts, Standard accounts are not charged with a commission.
- The maximum volume per order is 200 lots (in Exness Limited VC).
In addition, when opening a Standard account in Exness, you will get a lot of trading experience from risk control. This is an important factor for your confidence when trading with major currency pairs.
Exness Pro account
Exness Pro is the account type suitable for professionals or investors who have a lot of experience in the Forex market. It is because this account really offers a reasonable and flexible transaction fee as well as many attractive opportunities and comfort for traders.
- With this type of account, you can trade up to millions of dollars without paying any commission to the platform. In addition, you can also place unlimited orders.
- This account type will give you unlimited leverage. With Exness Pro, you can enjoy unlimited leverage and almost zero margins.
- The spread is very low. A spread is a difference between the Bid price and the Ask price, which is the fee that the platform collects from the client’s transaction. Every trader wants to join a trading platform that offers them a low spread. When opening a Pro account, the spread can be as low as 0.1 pips. This is considered the most competitive level compared to other Forex trading platforms on the market.
- You can trade with a wide variety of instruments which are 120 different currency pairs. In addition, you can also trade with instruments such as gold, silver, Bitcoin, Litecoin, etc. If you trade cryptocurrencies in Exness, you will not be charged a commission at all. It’s great, right?
Exness Zero is also known as an ECN (Electronic Communication Network) account. This is the account type with zero spread. An ECN account will give you the opportunity to trade with professional traders, investors, experts, etc. who are truly excellent in this field.
I will detail a few advantages of the Zero account.
- Exness Zero’s spread is very low and almost zero for currency pairs such as EUR/USD, USD/JPY, and CAD/USD, etc. Of course, the zero spread is the perfect and attractive condition of brokers to attract traders.
- Exness currently has 4 different liquidity providers. As a result, you will get better, more stable ECN quotes from Exness with a Zero account. If you trade on other platforms, you will sometimes experience some quote issues. But rest assured, this won’t happen in Exness.
- While other platforms require you to deposit thousands of dollars, Exness only requires you 300 dollars to start trading. Low-capital traders really like this advantage. They do not need to spend too much money but can still trade with a Zero account.
Exness Raw Spread account
Exness Raw Spread is a new type of account launched in late 2019. This account has many similarities with Exness Zero, but the spread is not as low as Zero. The Raw Spread account details are as follows:
- Minimum deposit: USD 200.
- Maximum leverage: 1: 2000 on the MT5 platform and unlimited to the MT4 platform.
- Commission: $7/lot.
- Spread: from 0.1 pip.
Through the above article, you can choose an account type that is suitable for your trading experience. New traders should learn the advantages and disadvantages carefully before creating an account. It will help you to be comfortable in investment to make maximum profit in Exness.