Sep 26 2019 10
Why do I need to talk about Exness spreads and commission? Exness is the broker I really like, because they offer very good trading conditions for professional traders as me. Some of their advantages are low spread and commission. When I first chose my broker, I created accounts in all top best forex brokers and checked their spread, quotes, payment system... daily. After some months, I found that Exness spread is very good. I will show you now. As usual, there are 3 types of accounts: Market maker, STP and ECN accounts, but for me, Market maker and STP are similar because they both get quotes from some specific banks or liquidity providers. So, I will sort them into 2 types are: regular account and ECN account. Exness also offers these accounts.
What are spreads?
Spread is the fee that brokers charge your order. Instead of charging commission, they add it to the quotes. Spread is the difference between Ask and Bid prices. Example: When you check Exness spreads, you will see below quotes:
Spread is the column after Ask column. And this number have to divide to 10 to get real spread. In this chart, EURUSD spread is 0.8 pip, USDJPY spread is 0.5 pip. This is the lowest spread for regular accounts.
How much we pay for 1 pip spread?
For EURUSD, 1 pip is 10$. You can use this formula for other currency pairs:
Fee = spread x contract size x lot x point size.
Example: 1 lot EURUSD, 0.5 pip spread. Fee = 0.5 x 100,000 x 1 lot x 0.0001 = 5 USD.
How much are Exness spreads for regular accounts?
For regular accounts, there are 3 account types: Standard Cent, Standard and Pro. The Exness spreads are different among these accounts. For these 3 accounts, Exness only charges spread and doesn’t charge commission.
Standard Cent account
Standard Cent account is the account for beginners. You can just deposit 1$, open $0.00001 lot. As usual, brokers don’t get much money from Standard Cent account because beginners don’t trade much. They deposit small amount and open low position value. But brokers have to serve them as other traders. So, Brokers tend to charge more spread for Standard Cent account. But Exness is different. They only charges from 0.3 pip. This is very low spread. For Example, for EURUSD, They only charge around 1.1 pip. This Standard Cent account spread is even lower than other brokers' standard account.
Open Exness Standard Cent account here
Standard account is the most popular account of Exness. Most of traders like Standard because of its advantages such as: low spread, unlimited leverage, more than 140 currency pairs, instant withdrawal. Standard account spread is lower than Standard Cent account a little: around 1 pip for EURUSD. For 5 main currency pairs, Exness spreads are very competitive. They are just around 1 pip. You also can trade cryptocurrencies such as: Bitcoin, Litecoin, or ETH... in Standard account. Exness doesn’t charge commission for trading these cryptocurrencies. And Exness spreads are the lowest in the market. They only charge around $5 for Bitcoin, $1 for ETH and less than 1$ for the rest.
Open 1 Standard account to check their spread here.
This is the best account in term of low spread. Because they only charge from 0.1 pip. If you trade instant execution, they only charge around 0.5 pip for EURUSD and 0.9 for market execution. This is the lowest spread in the market. You also can trade cryptocurrency. And there isn’t charge commission. Because this account is for big traders. So, in order to open this account, you have to deposit at least $2000.
Learn more about Pro account here.
This is actually an ECN account from Exness. They name it Zero because of the zero spread. They only charge commission. Learn more about this account below.
More details on all Exness accounts.
Here is how Exness spread compared to other brokers:
|Exness||0.5 pip||0.7 pip||0.7 pip||1 pip||0.9 pip||0.6 pip||0.6 pip|
|XM||0.8 pip||1.1 pip||1.1 pip||1.5 pip||1.2 pip||1.1 pip||0.8 pip|
|HotForex||1.2 pip||1.5 pip||1.8 pip||1.9 pip||1.9 pip||1.9 pip||1.7 pip|
|FXTM||0.8 pip||0.5 pip||0.9 pip||1.1 pip||0.6 pip|
|FBS||1.1 pip||0.8 pip||0.9 pip||4 pip||3 pip||7 pip||2 pip|
|Forex.com||1.2 pip||1.2 pip||1.4 pip||3.2 pip||2.3 pip||2 pip||1.2 pip|
|FxPro||1.1 pip||0.7 pip||1.3 pip||0.7 pip||1.3 pip||1 pip||109 pip|
|Pepperstone||1.1 pip||1.1 pip||1.4 pip||1.3 pip||1.2 pip||1.4 pip||1.2 pip|
|Saxo Bank||0.7 pip||0.5 pip||0.8 pip||0.7 pip|
How much commission does Exness charge for ECN account?
You have to pay commission to trade ECN account in all brokers. Exness also charges commission for their ECN account, which is called Zero account, but Exness commission is the lowest. They only charge $3.5 for each round per lot. But be careful. Because I found that some other brokers also charge low commission but they also charge spread. As usual, for ECN, spread should be 0 pip. In perfect trading condition, spread is equal zero, but no broker can do that. Spread still exist, but it should be 0 pip. And Exness spread is very low. They are around 0 pip.
Create ECN account here.
Here is how Exness commission compared to other brokers:
|Commission per lot|
Exness Zero account and Raw Spread account
Exness Raw Spread account is the new account of Exness. Unlike Zero account which offers no spread, Exness Raw Spread offers very low spreads because it is the spread taken directly from the liquidity providers. All the trading conditions of the two accounts are the same. Minimum deposit is 200 USD. Maximum leverage is 1:2000. Commission is $7. The only difference is that Exness Raw Spread account has slightly higher spreads than Exness Zero account.
The advantages of Exness forex broker
Trusted forex regulations
Exness is regulated by CySEC and FCA, two of the most trusted forex regulations in the world. Thanks to these regulations, you are definited safe and protected when trading at Exness. Security and safety are always the most important thing to consider a forex broker because this market is very risky.
Check Exness regulations here.
One of the best features at Exness that no other brokers can have is thte unlimited leverage. If your account can qualify for all the requirements of this leverage rate, you can experience the highest leverage rate in the market at Exness.
Check Exness leverage here.
Best support team
When you trade with Exness, you will be assisted by the top support team. They are available 24/7 and can help you with any problems in multiple languages. Moreover, Exness has offices in various countries so that if a customer need more direct assistance, they are ready to help.
Check Exness contacts here.
Fastest deposit/withdrawal system
And finally, the thing that draws traders to Exness the most is its deposit/withdrawal system. This system is fully automated; therefore, you can withdraw your money in seconds. This is the best speed in the market. Open an ECN account at Exness now to experience these advantages.