Surely many traders will be confused when deciding which account they should open at Exness. Exness has 4 types of real accounts and 3 types of forex demo accounts. So what account should we open? What is the difference between the Exness accounts?
Exness Cent Account.
There are 3 types of traders that usually use Cent Account at Exness:
- First, there are traders who have never invested in Exness. Thus, they do not know whether Exness platform is good or not? Is spread at Exness high? How fast does the request execute? So, they open Cent Account just to test. The advantage of Cent Account is that you just need to deposit 10$, then you will get 1000 USC in account. This amount is big enough for you to test all trading conditions at Exness. I make Exness transactions many times, and I realize that the transaction condition of Cent and Mini Accounts is not much different. Low Spread is from 0.3.
- Second, many people use Scalp robot to trade. The features of this robot are to trade many requests when it catches favorable waves. Thanks to this, trader can prioritize other accounts with the small volume of transaction. Cent Account at Exness has the smallest trading order volume of 0.01 lot Cent = 0.0001 lot USD, so it is favored by trading robot.
- Finally, the traders who do not have much experience and are learning transaction. Trading Cent account would help them to reduce the risk of losing a lot of money, but it is still traded in real conditional transaction, real psychologically transaction and real money withdrawal.
See more information about Cent account here.
Mini account at Exness:
Mini account at Exness is one of the most popular accounts at Exness. Over 80% traders at Exness always choose Mini account because this account does not require minimum deposit amount, the minimum trading volume is 0.01 lot, the low spread is from 0.3, and the high push is unlimited.
So, if you are a professional trader, you should open a Mini account.
See more information about Mini account here.
The account for professional traders.
Exness has 2 types of accounts for professional traders which are Classic and Exness ECN accounts. The professional traders all know that ECN is the best account for them to trade. However, most of them trade with ECN account which is not as good as the normal account, because ECN account is not stable, the price often fluctuates very fast, widely and decreases dramatically. Besides, ECN transaction is more complicated, requesting more knowledge and techniques. This is the reason why Exness releases Classic account.
See more information about ECN account here.
Classic account has more advantages than ECN since it is table. Because Classic account is designed for traders to make big transactions, its spread is quite low, from 0.1 for EURUSD pair and no commission fee like ECN. Moreover, its push is also higher, and the price goes down very fast. Therefore, if you are a professional trader but you do not like ECN account’s problem, Classic will be a perfect choice for you. Notice that Classic account can be deposited at a minimum of 2000$ for the first time, in next times you can deposit as much as you want.
See more the information about Classic account here.
So what account should I open? I like the Classic account. Although at the first time you have to deposit a significant amount (2000$), in next times, there is no limitation for deposit; you can deposit as much as you can. Thus, if you decide to invest in long-term, you should open Classic account to save significant spread costs.