Exness is a popular online forex and CFD broker that offers a range of different account types to suit the needs of various types of traders. Whether you're a beginner just starting out or an experienced trader looking for advanced features, Exness has an account option that can work for you. Let's take a closer look at the main account types available:
Standard Account
The Standard account is Exness' basic trading account and a great option for beginner and intermediate traders. To open a Standard account, the minimum deposit is $10. This account provides access to a wide range of currency pairs, metals, energies, and indices, with spreads starting from 1 pip on the EUR/USD. Leverage is available up to 1:2000, though Exness recommends using leverage of 1:500 or less.
The Standard account has no commission fees, and traders can choose between a Straight-Through Processing (STP) or a Market Execution model. STP means your orders are routed directly to the interbank market, while Market Execution has a slight delay but can potentially provide slightly better pricing. Both execution models are available with no dealing desk intervention.
One key feature of the Standard account is that it allows hedging, meaning traders can open both buy and sell positions on the same instrument. This can be a useful risk management tool. Traders also get access to Exness' extensive educational resources, trading signals, and market analysis to help improve their skills.
Pro Account
For more experienced traders, Exness offers the Pro account. The main difference from the Standard account is that the Pro account has tighter spreads, starting from 0.1 pips on the EUR/USD. The minimum deposit is also higher at $500.
Like the Standard account, the Pro account allows leverage up to 1:2000 and provides access to a wide range of trading instruments. Traders can also choose between STP and Market Execution. Another key feature is that the Pro account waives the commission fees that are charged on the Standard account.
One major benefit of the Pro account is the ability to use expert advisors (EAs) and algorithmic trading strategies. This can be very useful for traders who want to automate their trading and backtest strategies. The Pro account also comes with VPS service, ensuring your EA runs 24/7 without interruption.
Additionally, Pro account holders get priority customer support and can take advantage of Exness' professional trading signals and analysis. Overall, the Pro account is well-suited for active, experienced traders who want tighter spreads, lower commissions, and more advanced trading tools.
Islamic/Swap-Free Account
Exness also offers an Islamic/Swap-Free account, which is designed for traders who want to avoid overnight swap/rollover fees due to religious or ethical reasons. This account type has the same trading conditions as the Standard account, but without any overnight swap charges.
The minimum deposit for an Islamic account is $10, the same as the Standard account. Leverage, execution models, and trading instruments are also the same. The key difference is that there are no overnight swap fees applied, making this a suitable option for traders who want to comply with Shariah law.
It's important to note that while the Islamic account is swap-free, it may still incur other fees or charges as part of the trading process. Traders should carefully review the account specifications to understand all applicable costs.
Cent Account
For traders who want to start with very small account sizes, Exness offers a Cent account. As the name implies, the minimum deposit for a Cent account is just $1.
This account type provides access to the same range of trading instruments as the Standard account, with spreads starting from 1 pip on the EUR/USD. Leverage is available up to 1:1000.
The Cent account is a great option for beginners who want to practice trading with real market conditions without risking large sums of capital. It allows traders to get comfortable with the Exness platform and trading process before scaling up to larger account sizes.
While the trading conditions are similar to the Standard account, the Cent account does have some limitations. For example, there is a maximum trade size of 1 micro lot (0.01 lots), and the maximum trade volume per month is 10,000 lots. These constraints help protect new traders from potential over-leveraging.
Overall, the Cent account is an excellent way for novice traders to gain experience and test out strategies in a live market environment with minimal risk.
Demo Account
In addition to the live trading account options, Exness also provides a free Demo account. This allows traders to practice trading with virtual funds and get accustomed to the Exness platform before risking real money.
The Demo account mimics the live trading conditions, including access to the same instruments, trading tools, and execution models. Traders can test out different strategies, experiment with leveraged trading, and familiarize themselves with the platform's features without any financial risk.
Exness' Demo account comes with $10,000 in virtual funds to start. There is no time limit on the Demo account, so traders can use it for as long as they need to feel comfortable transitioning to live trading.
The Demo account is an invaluable resource, especially for beginner traders. It provides a safe, risk-free environment to build trading skills and confidence before opening a live account.
Conclusion
Exness offers a diverse range of account types to accommodate traders with different experience levels, trading styles, and capital requirements. From the beginner-friendly Standard and Cent accounts to the more advanced Pro and Swap-Free options, there is an Exness account type to suit a wide variety of trading needs.
Regardless of the account you choose, Exness provides a reliable, well-regulated trading environment with competitive pricing, advanced trading tools, and excellent customer support. By taking the time to understand the unique features of each account type, traders can select the best fit for their individual goals and risk tolerance.