Exness is a broker who doesn’t put too many advertisements out there but they are still one of the most popular and reliable brokers in the forex market. Everybody knows about them. Last year, in 2017, their trading volume increased by 35% and reached 3224 billion dollars. When compared to other big brokers, their trading volume surely surpasses them. For example, it is 34% higher than that of Forex.com and doubles the figure of FxPro. There are just 44,000 clients trading at Exness monthly but they generate up to 268 billion dollars’ worth of trading volume. It indicates that not only small traders like trading at Exness but also professionals who trade big money. If you want to start a trading career in the forex market, Exness is a place you should come to. It has all the best trading conditions you can think of. Today, I’ll guide through different types of Exness account and you can choose which one is suitable for your trading tactics.
Exness Cent account
For starters in the forex market, it is very difficult to learn everything in a short time. In my opinion, the best way to gain some experience in trading is trying out in real life, with your real money. Some may argue that since most brokers have demo accounts, why not try that? In my opinion, practicing trading with demo accounts is a bad idea. Most brokers want you to win in demo, so that you’ll become too confident, which leads to your loss in the future. You should practice with real money, real account, and real risk. Fortunately, Exness provide you with a type of account that can be applied in this situation, Cent account. Like the demo account, it has low spread, low volatility, good execution, and good prices.
Cent account is highly recommended to beginners because it is a real account. Trading with it gives you the chance to know the feeling of trading in real-life conditions: real spread, prices, volatility, slippages… That is the best place to try out as a new trader. Trading in real conditions helps you understand the risk of forex trading. Using demo accounts sometimes makes you forget about risk management, which easily leads to losing all your money in a blink of an eye in the future.
Most brokers don’t offer accounts as small as Cent account but some smaller brokers do. However, I don’t recommend small brokers because obviously they are not as reliable and good as big brokers. Exness is a whole different story. They are one of the biggest forex broker in the world with monthly trading volume up to 300 billion, yet they still offer Cent account. Here are the reasons why you should practice trading with Exness account:
Almost all beginners in forex trading don’t want to spend too much money on practicing. As mentioned above, Exness require as little as 1 USD to open a Cent account. Therefore, it is very suitable for new traders who just want to practice trading. Moreover, Exness allow you to open positions at only 0.01 cent, which is 0.0001 dollar. In the forex market, this is the lowest value that you can’t find anywhere else. Why is it better to have lower value? Research shows that over 90% of beginners will lose all their money when they start trading. Therefore, you need to practice as much as possible. With such low order value like this, you can practice trading up to three months with only 10 USD.
Cent account at Exness has the highest leverage in this market, even up to unlimited. If the leverage is high, you pay less for the margin. Accordingly, you can keep your orders longer with less margin.
Exness Mini account
This Exness account is designed for beginners in the Forex market. At Exness, there are approximately 80% traders choose Mini account. Why so? Because when you have a Mini account, you just need to deposit only 1 USD to start trading. Moreover, the minimum volume when you trade is only 0.01 lot. The spread is relatively low, just from 0.3, and in Asia, the leverage is up to unlimited, a key feature of Exness that is highly appreciated by professional traders. Also, similar to the Cent and Classic account, the Mini account is not charged any commission on trading volume by Exness. The maximum volume of position you can open is 200 lots (at Exness Limited VC). When trading with this Exness account, you mostly gain trading experience since you are more flexible to control your risk and, therefore, you will become more confident in trading currency pairs.
Unlimited leverage: Leverage is the ratio of equity to loan capital. When you decide to trade in the forex market, you must first open a margin account with a forex broker. The leverage usually range from 1:50 to 1:200, which means the minimum required margin is from 1/50 (2%) to 1/200 (0.5%). However, with the Mini account, you can experience unlimited leverage, which leads to the margin being none.
Mini lots: Since you can open a large number of Mini lots with this Exness account, you can control the risk more precisely. For example, you want to open a long position in the EURUSD pair. If you think a standard $100,000-unit lot is too much of a risk, you can open ten $5,000-unit lots, which is just half of that standard lot position. Furthermore, the lots are arranged precisely according to appropriate risk and leverage. Thus, it gives you more flexibility. Moreover, for inexperienced traders, trading with Mini accounts helps you minimize the risk but you can still experience the real world trading conditions, preparing you for professional and bigger trades in the future. Also, this might be a good chance for you to try different trading tactics.
However, with Mini accounts, the spread is a little higher than that of Classic or ECN accounts, at 0.3.
Exness Classic account
The Classic account is designed for professionals or experienced traders in the Forex market. They really enjoy trading with this type of account at Exness. Why so? Because of the flexibility, cost efficiency, and freedom it brings to them. Moreover, they does not charge any commission when trading with this Exness account. You can trade up to millions and it doesn’t cost you a penny. The maximum volume of positions you can open is 200 lots (at Exness Limited VC). In addition, at Exness, you can open an unlimited number of accounts in your personal area. I really like this feature because it gives me a great chance to test many different trading strategies. You can also open as many orders as you want. There is no limit to it. Here are some advantages you will have when trading with this account.
Unlimited leverage: Before you begin to trade in the forex market, you must first open a margin account with a forex broker. For other brokers, the leverage usually range from 1:50 to 1:200, which means the minimum required margin is from 1/50 (2%) to 1/200 (0.5%), because they are strictly regulated by Western license. I think this is an advantage for Asian traders when you trade with Exness, because with this Exness account, you are offered the unlimited leverage, which leads to the margin being none. Exness in Asia is not regulated by anyone, so they can give you that outstanding leverage. However, remember that unlimited leverage is only available for accounts with less than $1000 and having traded more than 5 lots. For others, the leverage is still pretty high, up to 1:2000.
Low spread: Spread is the difference between the ask price and the bid price. It is the means of making money of brokers. Obviously, all traders would love a broker that offer them a low spread rate. When it comes to Exness Classic account, the spread can be as low as 0.1 pip, the tightest in the market. When you make an instant execution, the spread is only around 0.5 pip for the most popular currency pair, the EURUSD, and only about 0.9 pip for a market execution. This spread rate is the lowest when compared to other big brokers.
Variety: When you choose the Classic account, you can trade up to 120 different currency pairs. Moreover, you get to trade precious metals such as gold or silver plus some types of cryptocurrency like Bitcoin or Litecoin. Also, you really should trade cryptocurrency at Exness because cryptocurrency trading is commission-free with this Exness account.
However, to open a Classic account, you have to deposit at least $2000. But after that, you don’t need to deposit anything else to open more of this Exness account. Since you are an experienced trader now, that amount of money is really understandable.
Exness ECN account
Most of professional traders know that ECN account is the best account for trading. Because only ECN account allow you trading in real market. You will buy and sell with real traders. And the prices were determined by the market demand and supply. For other account types, you will trade against brokers or banks. That is why professional traders prefer ECN account. ECN means Electronic Communication Network. This is a Network that connect you with others traders. So, this is the real market which you can buy/sell with real demands. Here are some benefits Exness offers for the ECN account.
The spread of this Exness account is significantly low. As usual, it is nearly none for the most common currency pairs like: EUR/USD, USD/JPY, CAD/USD… In the perfect world, spread should be zero, but of course no retail broker can do that. Due to market volatility, there is always spread. I have already checked the spread of the top forex brokers and Exness ECN account has the lowest spread ever in the market.
Exness charges the least commission. When the ECN account’s spread is sometimes nothing, broker has to make the living on trading commission. Most brokers charge from 50 to 100 USD for 1 million dollars’ worth of trading volume. However, Exness only charges 25 dollars for each 1 million dollars’ worth of trading volume. This is by far the lowest commission in the forex market. Of course you know that the lower the commission is, the better that broker is.
Exness provides clients with better ECN quotes than other brokers. Exness gets their quotes from four different liquidity providers. Therefore, they can offer better quotes, better prices, and stable charts for this Exness account. If you trade with other brokers, sometimes, it doesn’t show the price. When it comes to Exness, that incident rarely happens.
Exness only requires a 300 dollars minimum deposit to start trading with an ECN account while other brokers demand up to thousands of dollars. This feature is very good for medium traders who can’t afford much money yet still want to trade with ECN account.
Absolute security: Exness is a company specialized in the field of offering forex trading services. They have three entities operating in Europe, Asia, and UK. Since they are one of the biggest trading platforms in the world, Exness is very serious about their security and transparency. You can easily review their financial reports, funds, and clients’ information (visit this link). Their auditor is Deloitte (the biggest independent accounting firm in the world) so you can rest assured all this data is real. Also, their fund in segregated accounts is 40 times worth of the money their clients cash in so you don’t have to worry about losing money due to technical problems or crisis.
Outstanding customer service: Exness has a great customer support policy. They can now helping clients in Chinese, Thai, Vietnamese, Bahasa Malaysia, and Persian. Furthermore, they have a 24/7 customer service system that will help you with any problems you encounter, which is super helpful to new traders.
Instant withdrawal system: To me, instant withdrawal is the key feature that makes Exness stand out. Instant withdrawal means when you withdraw your fund or transfer money, it only takes milliseconds to complete the task. How so? Because Exness leaves that job to the machines, so it is way faster than human. Compared to other brokers, Exness’ withdrawal speed is the fastest. You can try withdraw money at Exness and other brokers to see it for yourself. The difference is significant. This is one of the main reasons why traders decide to trade at Exness.