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?
Today I will break down the similarities and difference among 4 Exness account types, and you can decide which one fits you the most.
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.
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. [caption id="attachment_986" align="aligncenter" width="800"] About 80% of Exness traders choose Exness Mini account.[/caption]
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 Mini 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.
ECN 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 Classic account, the number of positions is unlimited.
So there you have it, 4 different types of accounts with different deposit, spread, leverage, and number of positions for you to choose.