When you want to become a professional trader on Forex, you should choose the biggest market possible. Exness can provide you with the best professional trading condition and highest quality ever. You can trade easily on a variety of platforms such as MT4, MT5, Mobile platform, and web terminal. For starters, maybe the first thing you should consider is what type of accounts you should choose. There are four account types on Exness, which are Cent, Mini, Classic, and ECN (Electronic Communication Network). You can check this link to have a closer look and start register right now. However, today I want to talk the most popular account type at Exness, the Mini Account.
About Exness Mini Account
The Mini account is designed for beginners in the Forex market. At Exness, there are approximately four out of every five 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 Mini 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.
Main Advantages of Exness Mini account
As mentioned above, you will have many benefits when open a Mini account.
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.
Check Exness leverage here.
Since you can open a large number of Mini lots with Mini 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.
Check Exness mini lots here.
Of course, people tend to be very cautious when it comes to trading money. Exness understands that so they made the operations at Exness as transparent as possible. There is no commission or fee charged when you trade with Mini account or any other types.
Check Exness transparency here.
Exness’ instant withdrawal system is truly a game changer in the forex market. The difference is really significant when you withdraw or transfer money here. If you have ever traded with other brokers, you can clearly notice how long it takes for them to perform the task, sometimes up to hours. At Exness, that job is taken care of by the machines so the time required is only milliseconds.
Check Exness withdrawal system here.
Disadvantages of Exness Mini account
High spread: With Mini accounts, the spread is a little higher than that of Classic or ECN accounts, at 0.3.
How to Register Exness Mini account
Just follow the five basic steps below:
- Go to https://www.exness.com/signup/
- Put in your email address, phone number, and a password to generate Personal Area. Then, verify your email and phone number.
- Input your general details: Title, First, Last name, Day of Birth then accept the T&C.
- Choose your security type and security word.
- Finally, you can now register multiple accounts, including Mini account.
Exness Mini account is suitable for traders with some knowledge or experience in Forex trading, or even beginners. Traders can easily trade with larger volumes than Cent account and can apply a variety of trading methods with different accounts. It is very simple to register and you can start trading with the world today.