BRKV - Why do forex traders care about the minimum deposit of a broker? The answer depends on the aim of the trader. Some beginners just want to practice trading in real conditions, yet they don’t want to put too much money into practicing because we all know that 90% of new traders fail miserably at the beginning. Therefore, they need a broker that requires very little deposit to start trading with real accounts.
On the other hand, experienced traders need to test the features of a broker like the spread, the execution speed, payment system, fees... before working with them. For the sake of testing, they also don’t want to deposit much. After many experiments with various brokers, I can guarantee you that Exness has the lowest minimum deposit requirement among the best forex brokers. Let me explain more about Exness minimum deposit.
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Despite being one of the top forex brokers in the world, Exness offer traders a very low minimum deposit rate for the Cent and Mini account, which is just $1.
More about Exness Mini account.
Many may also be asking this question. One dollar is too little. How can you trade with just $1? The answer is the minimum trading lot. Some other brokers also have the minimum deposit rate from $1 to $5, but they can’t be as good as Exness. It’s because their minimum trading lot is 0.01, which means you cannot open a position with $1. Those brokers advertise that the minimum deposit is only one dollar but in fact, you have to deposit more to start trading.
It is not the case of Exness. Exness have this kind of account for beginners called Cent account. With this account, you can open really small positions, down to 0.0001 lot USD. That means with just one dollar, you can start trading right away. Moreover, I haven’t even mentioned that Exness have unlimited leverage, the feature that only Exness can offer. Unlimited leverage means that there is no margin required, so you can trade without paying for margin. Exness Cent account also has no commission. The spread for this account is just as low as 1 pip for the most popular currency pair EUR/USD.
Read more about Exness spread and commission
BRKV - That’s why there are many forex cheaters trying to cheat Exness by exploiting the low Exness minimum deposit rate. They open a lot of accounts and deposit as little as possible. They trade with high leverage and open really big positions. Their accounts can easily get Stop Lot instantly but if they trade in the right direction, they can get much more than the loss.
If possible, open $1 on a swap account - swap account give overnight interest, this will add to your profit if your position cross 12 midnight. Whatever kind of trader you are or whatever strategy you are using, you can open a $1 account and start trading using the above setup, its only a matter of patience and discipline.
All big forex brokers as Exness cannot offer low minimum deposit, because the benefits from the small clients are not enough to make up for the operation cost. However, Exness is unique. From the beginning, they built an automatic system. Traders of Exness can register, deposit, trade and withdraw profits automatically. All the works are done by the machine, so the cost is lower. Thanks to this automatic system, Exness can serve all types of traders the same high-quality services. The more traders, the better because this automatic system doesn’t cost any more money for more work. That’s why whatever the account you open at Exness, Cent or Mini, the spreads, leverage, deposit and withdrawal speed are similar.
When opening a forex account, you always have to deposit some money into your account in order to start trading. Each broker will require you to deposit at least a different amount of money. That required amount of money is called minimum deposit. Some broker can require up to hundreds of dollars to start trading. Exness has the lowest minimum deposit in the market. Exness minimum deposit is only 1 US dollar.