Sep 26 2019 22
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.
How much is Exness minimum deposit?
Despite being one of the top forex brokers in the world, Exness offer traders a very low minimum deposit rate for the Standard Cent and Standard account, which is just $1.
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:
|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.
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 advantages of that 1 dollar to test the deposit/withdrawal sysyem of Exness. Exness is very famous for its super fast, multi-method, and automatic deposit/withdraw 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 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 over sold or over bought area, you can target for 50 to 100 pips a day.
- Plan the use of stoploss - If you open a position and it turns to negative profit, wait for the market to comeback again to its position or use stoploss if you cannot wait for several days before it hit the take profit.
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.
How can Exness Minimum deposit be that low?
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, 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 are spreads. 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 that 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 deposit. 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 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.