Jan 15 2021 1
Exness was founded in 2008 and ever since, they have earned a great reputation as the most reliable and transparent broker in the forex trading market. To this day, Exness has experienced over $300 billion trading volumes monthly and over 40,000 active accounts, and the number is only going up. As a trader at Exness, you can invest in up to 120 financial instruments. Furthermore, in the Forex currency market, you can trade over 650 currency pairs. You will love to trade at Exness, but there is one question lingering, which type of account should you choose to open?
As of 2019, Exness has completely changed all of its account names. This is because the new names are more suitable for the features of the Exness accounts. Particularly, the Cent account is changed to Standard Cent account. Mini is now called Exness Standard account. The Classic account is now known as Exness Pro account. The ECN account is changed to Zero account. Lastly, they add a brand new account, which is called Raw Spread Account. There are now 5 Exness account in total.
Today I will break down the similarities and difference among 5 Exness account types, and you can decide which one fits you the most. This article will not cover the Exness Demo account. Because it's better for you to focus on a real account right away to get the most realistic trading experience and experience.
Exness Standard Cent account
This is the most suitable for beginners. To open a cent account, you only need to deposit as little as 1 USD. Just start learning trading whenever you want. The leverage is really significant, ranging from 1 to unlimited, a key feature that distinguishes Exness from other brokers. The spread rate is relatively low, at 0.3.
Exness Standard account
When you already have gained a little bit more knowledge and experience in forex trading, mini account is suitable for you. About 80% of Exness traders choose this type of account. The minimum deposit is only 1 dollar. The leverage is up to unlimited. The spread is the same to cent account, which is 0.3. The minimum lot size is 0.01 lot (which is $1000). What is really great about the mini account is that you can open up to 50 positions, so you can try different trading tactics to experiment. Also, thanks to Exness’ high liquidity and flexibility, you can transfer money among them at ease. About 80% of Exness traders choose Exness Standard account
Exness Pro account
This is the account that experienced traders choose. With this account, traders are offered a broader variety of financial instruments and better trading conditions from Exness than the Standard account. You have to deposit a minimum of $2000 to create the account but after that, you are free to put in as much as you like. The pace to execute your orders is guaranteed in a blink of an eye. Traders who have classic account have the leverage from 1 to unlimited. The spread is now lower, from 0.1. The minimum lot size is 0.1, since you are a more experienced trader, you trade more money. The best thing is that you can open unlimited positions.
Exness Zero account
This account is for ECN trading, which stands for Electronic Communication Network. Here, Exness offer traders the lowest spreads possible at all times, sometimes down to none. Expert traders really like this type of account because it can trade and scalp automatically. Traders need to deposit a minimum of $300. Different to other accounts, this one has the maximum leverage at 1:200. Exness charge the commission of 25 USD for every 1 million USD of trading volume. The minimum lot size is 0.1 lot, and like Pro account, the number of positions is unlimited.
Exness Raw Spread account
Exness Raw Spread is a new account launched at Exness at the end of 2019. This account has many similarities with Exness Zero account, but the spread is not as low as Zero. The details of the Exness Raw Spread account are as follows:
- Minimum deposit: $200
- Maximum leverage: 1:2000 on MT5 platform and unlimited on MT4 platform.
- Commission fee: 7 dollars/lot
- Spread: from 0.1 pips.
How to open Exness accounts
Here are 6 easy steps to open an Exness account online.
Step 1: Go to Exness' homepage, exness.com. You will see a Sign Up button at the top right corner of the screen.
Step 2: Fill in the necessary information including the country you live in, your email address and create a password you want to use for your account (note: the password must be at least 8 characters including uppercase, lowercase and numbers/symbols).
Step 3: Next, Exness will take you to your personal page. Click the Become a Real Trader button at the top to complete the registration for a real account. Your current account is just a demo account.
Step 4: You will need to enter your phone number to confirm opening a real account. After entering your phone number, Exness will send you a verification code.
Step 5: After confirming the phone number, you will be redirected to a page that identifies personal information including Full Name, Date of Birth, and Address. This is the information Exness needs to keep you safe and secure.
Step 6: Once done, you can already open a real account with a maximum deposit of $2000. To raise your deposit, you need to verify your identity by clicking on the Verify Account button.
So there you have it, 5 different types of accounts with different deposit, spread, leverage, and number of positions for you to choose.