Sep 26 2019 30
The Exness minimum deposit is one of the most fascinating features of this broker that helps attract traders. Check out this article from BRKV Forex to find out how much Exness requires from you to open an account.
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- How much is Exness minimum deposit?
- Exness minimum deposit compared to other brokers
- How to fund your Exness account
- Exness minimum deposit based on methods
- But, can you trade anything with just $1?
- Forex strategy for only $1
- How much do you need to start forex trading?
- How can Exness Minimum deposit be that low?
- Tips on how to cut trading cost
- Trading on a budget
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.
Check out Exness Reviews
How much is Exness minimum deposit?
Despite being one of the top forex brokers in the world, Exness offers traders a very low minimum deposit rate for the Standard Cent and Standard account, which is just $1.
More about Exness Standard account.
Exness minimum deposit compared to other brokers
Check out the table below to see how Exness minimum deposit compared to other big brokers in the market:
|Broker||Regular account||ECN account|
How to fund your Exness account
After you have done signing up with Exness and opened an Exness account, you would want to deposit some money into your account in order to start trading. Let’s check out the process of deposit with Exness step by step.
- Sign in with your Exness account. Don’t worry about the platform. The web platform, MT4, MT5 and mobile platform all share the same interface.
- You will find the DEPOSIT button on the left of the screen.
- Select a deposit method. The methods available on Exness platform are:
- VISA or MasterCard
- Internet banking service of your local banks.
- E-wallets such as Neteller, Skrill, SticPay, or Ngan Luong
- Cryptocurrency wallet (Bitcoin, Tether...)
- From other Exness accounts
- Next, if you’ve already had multiple Exness accounts, select the account that you want to deposit money in.
- Choose a currency for the deposit like USD, JPY or EUR. Then put in the number.
- Check your account information again to make sure all the information is correct. Then click CONFIRM.
- Then Exness will take you to the transferring page of the method you chose earlier. There, you just need to put in your information and make the trade.
That’s how you deposit money into your Exness account. After trading for a while, you would want to withdraw your profit.
Exness minimum deposit based on methods
While the minimum deposit requirement for Exness accounts is $1, depending on the deposit method you use, you may have to deposit more than that. That's because of a third-party request, not that of Exness. Each deposit method will require you a different minimum deposit amount. You can see the details in the table below:
|Deposit method||Minimum deposit||Deposit speed||Withdrawal speed|
|Internet Banking||15 USD||Instant||Up to 3 hours|
|Tether wallet||10 USD||Up to 72 hours||Up to 72 hours|
|Bitcoin wallet||10 USD||Up to 72 hours||Up to 72 hours|
|NganLuong wallet||10 USD||Instant||Instant|
|VISA/MasterCard||3 USD||Instant||Up to 3 - 5 days|
|Neteller wallet||10 USD||Instant||Instant|
|Skrill wallet||10 USD||Instant||Instant|
|Internal transfer||1 USD||Instant||Instant|
Note: You need to verify your account to be able to use all Exness deposit methods.
But, can you trade anything with just $1?
Many may also be asking this question. One dollar is too little. How can you trade with just $1? Actually, most traders take advantage of that 1 dollar to test the deposit/withdrawal system of Exness. Exness is very famous for its super fast, multi-method, and automatic deposit/withdrawal system. The process on Exness is hundreds times faster than other brokers, so people want to try it out. See if it lives up to the reputation. And 1 dollar is the perfect amount to test it.
Nobody actutally trades with just 1 dollar. If you really want to, well, you can open the Cent account. Cent account is the type of account that automatically turns your 1 dollar into 100 cents to trade. Exness is one of very few brokers who offer Cent account with their company's scale. Exness is one of the biggest forex brokers in the world, yet they still offer you a Cent account (which they call Standard Cent). This means Exness cares about all levels of forex traders.
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 hit Stop Loss instantly but if they trade in the right direction, they can get much more than the loss.
Forex strategy for only $1
- Open a real Cent account for the EUR/USD pair - This will turn your $1 to 100 Cents equivalent value.
- Trade 0.01 lot size one at a time - Do not open another position as long as the previous was not yet close. Opening 1 position at a time will allow for 1000 pips movement.
- Target realistic goal - Take profit can be set at 10 pips a day, but if you enter a trade on an extremely oversold or overbought area, you can target for 50 to 100 pips a day.
- Plan the use of Stop Loss - If you open a position and it turns to negative profit, wait for the market to come back to its position or use Stop Loss if you cannot wait for several days before it hits the take profit.
If possible, open $1 on a swap account - swap accounts give overnight interest, this will add to your profit if your position crosses 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.
How much do you need to start forex trading?
There are a bunch of questions with different unknowns that you wonder when you start forex trading like: Will you apply fundamental or technical analysis? Will you trade in the short term or long term? Will you trade strictly based on a particular forex trading strategy or will you adjust your tactics from time to time?… Questions like those are endless, but in the end they will determine what you achieve in this market.
First of all, how much money do you need to start trading forex? The answer may be lower than you think. In the case of Exness, as I mentioned above, it is just one dollar. A demo account allows you to experience the forex market without risking money as you can trade with virtual currency.
Next, you need an easy to operate and reputable trading platform to trade. Here we recommend the MetaTrader 4 software because it is very easy for beginners. Coincidentally, Exness trading platform is also from the MetaTrader system. By doing that, you can apply what you learned on the demo account to the real account, where you use your real money. You can first test your trading strategies with a demo account, then when it works, you can apply it to a real-condition account.
Part of learning is making mistakes, but you can avoid losing money to learn from mistakes by using a demo account to practice trading until you master all the moves needed in the forex market. Another aspect of forex trading is risk management. Risk management when trading is vital. You should only risk 1-3% of your capital per trade. Before making money in forex trading, you need to avoid losing money first. All forex trading experts will say the same.
Read more about Exness spread and commission
How can Exness Minimum deposit be that low?
All big forex brokers such 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 work is 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 account you open at Exness, Standard Cent or Standard, the spreads, leverage, deposit and withdrawal speed are similar.
Tips on how to cut trading cost
Find a broker with the following advantages:
- Low swap. Swap is the fee that brokers charge if you keep your positions open overnight.
- Low spread. Most of your trading cost is the spread. So, choosing a low spread broker can help reduce your trading cost greatly.
- Low commission. Some brokers can charge you commission for their services. Pay attention to that before opening an account.
- Earn bonus. Bonus can sometimes be a great way to cut down your trading cost. Find out more at the best forex bonus.
Trading on a budget
Another question that I think really relates to Exness' super low minimum deposit is how we can trade with a low budget. Maybe you don't have that much trust on the forex market and want to invest just a little in it. Well, there are of course forex strategies for trading from small deposits. Here is what you need to remember:
- Treat your small account like a million-dollar account.
- Don't trade too much. Only enter orders that are surely profitable.
- Don't trade for the money. Your goal should be a trading strategy, discipline, and experience.
- Trade in small lots. They are more suitable for a small account. It can help you control the risk. Think about protecting your money first.
- Don't think about the money you lost. Let it go. Those losses only lead to more losses.
When you can keep these in mind, you can surely trade successfully with a small account.
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 brokers 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.