Mar 15 2021 0
It is really important for you to know the maximum and minimum lot size of Exness accounts when you are trading with this broker. That's because the lot size can have direct impacts on how risky your trades are. Today, we will discover everything related to Exness lot size before you open an account from this broker.
What is a forex lot?
In forex trading, one standard lot is equal to 100,000 units of the base currency. For example, an EUR/USD lot is equal to $100,000. So when you buy or sell one standard lot, you are buying or selling 100,000 units of the base currency.
When the spread of the pair EUR/USD is 1.2 pip, the one standard lot that you buy is now equal to $120,000.
But of course not all of us have more than $100,000 for trading. That's when forex leverage comes in. If you are using the broker's leverage, you won't need $120,000 to execute that trade. You can just use the 1:100 leverage. That means in order to buy 1 standard lot, you just need one hundredth of the money, which is $1,200. The higher your leverage is, the less money you have to pay for one standard lot. For example, a 1:500 leverage means you only have to pay $240 for one standard lot.
For traders who don't have much money, they can find brokers who offer smaller lot sixe such as Mini lot, Nano lot or Micro lot (the name depends on the broker). Whatever the names, they all have the same lot size, which is 0.01 lot. So when you buy a Mini lot, you are buying only 1000 units of the base currency.
Lot size has a very strong relations with the reward:risk ratio of each trades. The bigger the lot size, the higher the RR ratio. Therefore, each individual trader has to determine his or her own lot size based on their risk management strategy.
Maximum and minimum lot size of Exness accounts
The list below will give you the minimum and maximum lot size of each Exness account, along with their maximum leverage and minimum deposit. Exness has 5 real accounts, which are:
Exness Standard Cent account is the smallest account of Exness. You can open this account for just one dollar while the maximum leverage you can use is 1:Unlimited. The maximum and minimum lot size of this Exness account is 0.01 (Exness names it Micro lot) và 200.
Exness Standard account is the most openned account of the Exness platform. You can open this account for just one dollar while the maximum leverage you can use is 1:Unlimited on the MT4 platform or 1:2000 on the MT5 platform. The maximum and minimum lot size of this Exness account is 0.01 (Exness names it Micro lot) và 200 (from 7:00 to 21:00 GMT) or 20 (21:00 to 7:00 in the next morning).
Exness Pro account, just as its name, is the account for professional traders at Exness. You can open this account for 200 dollars while the maximum leverage you can use is 1:Unlimited on the MT4 platform or 1:2000 on the MT5 platform. The maximum and minimum lot size of this Exness account is 0.01 (Exness names it Micro lot) và 200 (from 7:00 to 21:00 GMT) or 20 (21:00 to 7:00 in the next morning).
Exness Zero account is the only Exness account that has zero spread. You can open this account for 200 dollars while the maximum leverage you can use is 1:Unlimited on the MT4 platform or 1:2000 on the MT5 platform. The maximum and minimum lot size of this Exness account is 0.01 (Exness names it Micro lot) và 200 (from 7:00 to 21:00 GMT) or 20 (21:00 to 7:00 in the next morning).
Exness Raw Spread account is the account that lets you trade directly with the liquidity providers. You can open this account for 200 dollars while the maximum leverage you can use is 1:Unlimited on the MT4 platform or 1:2000 on the MT5 platform. The maximum and minimum lot size of this Exness account is 0.01 (Exness names it Micro lot) và 200 (from 7:00 to 21:00 GMT) or 20 (21:00 to 7:00 in the next morning).
Conclusion
The maximum and minimum lot size of Exness accounts is the thing that controls your trading order size. When you go from 0.01 lot to 1 lot, you have enlarged your order size 100 times. It means your potential loss has also become 100 times bigger. Therefore, you must pay close attention to your lot size when trading to avoid tragic losses.
