Before opening Exness accounts, you should know that Exness is a broker who doesn’t put too many advertisements out there but they are still one of the most popular and reliable brokers in the forex market. Everybody knows about them. Just in 2018, their average trading volume increased by 35% and reached 346 billion dollars. Compared to other big brokers, Exness’ forex trading volume surely surpasses them. To be specific, it is 34% higher than that of Forex.com and doubles the figure of FxPro. There are just 44,000 clients trading at Exness monthly but they generate up to 395 billion dollars, their highest trading volume record.
This shows that traders at Exness trade a lot of money, which means Exness is trusted and loved by experienced and professional traders. And in this world, the ones who you should trust are the professionals. If you want to start a trading career in the forex market, Exness is a broker you should come to. It has all the best trading conditions you can think of. Today, I’ll guide you through different types of Exness account and you can choose which one is suitable for your trading tactics. Exness have 4 types of account in total:
I don’t mention Exness demo account here because I just want to talk about real accounts. For information about demo accounts, check my article on the best forex brokers with demo accounts.
For starters in the forex market, it is very difficult to learn everything in a short time. In my opinion, the best way to gain some experience in trading is trying out in real life, with your real money. Some may argue that since most brokers have demo accounts, why not try that? Well, practicing trading with demo accounts is a bad idea. Most brokers want you to win in demo, so that you’ll become over-confident, which leads to your loss in the future. You should practice with real trading conditions, real account, and real risk. Fortunately, Exness provide you with a type of account that can be applied in this situation, which is Cent account. Like demo account, it has low spread, low volatility, good execution, and good prices.
Cent account is highly recommended to beginners because it is a real account. Trading with it gives you the chance to know the feeling of trading in real-life conditions: real spread, prices, volatility, or slippages… That is the best place to try out as a new trader. Trading in real conditions helps you understand the risk of forex trading. Using demo accounts sometimes makes you forget about risk management, which easily leads to losing all your money in a blink of an eye in the future.
Most brokers don’t offer accounts as small as Cent account but some smaller brokers do. However, I don’t recommend small brokers because obviously they are not as reliable and good as big brokers. Exness is a whole different story. They are one of the biggest forex brokers in the world with average monthly trading volume up to 346 billion, yet they still offer Cent account. Here are the reasons why you should practice trading with Exness accounts:
Exness Mini account is designed for everyone, both beginners and experienced traders in the fx market. At Exness, there are approximately 80% traders choose Mini account. Why so? Because:
When trading with this Exness account, you mostly gain trading experience since you are more flexible to control your risk and, therefore, you will become more confident in trading currency pairs.
The Classic account is designed for professionals or experienced traders in the Forex market. They really enjoy trading with this type of Exness accounts. Why so? Because of the flexibility, cost efficiency, and freedom it brings to them.
However, to open a Classic account, you have to deposit at least $2000, but next time, you can deposit as low as you want to open this type of account, even $1. Since you are an experienced trader now, 2000 dollars is an understandable amount.
Most experts know that ECN account is the best account for trading. Because only ECN account allow you trading in real market. You will buy and sell with real traders. And the prices were determined by the market demand and supply. For other account types, you will trade against brokers or banks. This is why experts prefer ECN account. ECN stands for Electronic Communication Network. This is a Network that connects you with others traders. So, this is the real market which you can buy/sell with real demands. Here are some benefits Exness offers for the ECN account.
When you decide to choose the scalping strategies, what you need is low spread. Scalping means you earn very little money from multiple small positions in a trading day. Therefore, low trading cost is very much needed for this trading strategy. When it comes to low spreads, Exness ECN account is the most suitable for you. Exness ECN accout has spread very close to zero, which makes it perfect for scalping strategies.
Swing trading is a type of forex strategies that traders hold their positions for a quite long period of time. Because they have to hold the positions for so long, they need low swap and high leverage. All Cent, Mini, and Classic account of Exness have unlimited leverage, which is very good for swing trading. If you focus more on swap, Exness has a free-swap account for Islamic traders.
Day trading is openning and closing a position within a trading day. Never let it last overnight. Therefore, just like scalping, Day traders want low trading cost. Exness Classic and ECN accounts can solve this problem. For Exness Classic account, spread is as low as 0.1 pip. No commission. And the minimum deposit is just 1 dollar. For Exness ECN account, spread is almost 0. Commission rate is the lowest in the market. Both accounts are very suitable for Day trading strategies.
Absolute security: Exness is a company specialized in the field of offering forex trading services. They have three entities operating in Europe, Asia, and the UK. Since they are one of the biggest trading platforms in the world, Exness is very serious about their security and transparency. You can easily review their financial reports, funds, and clients’ information. Their auditor is Deloitte (the biggest independent accounting firm in the world) so you can rest assured all this data is real. Also, their fund in segregated accounts is 40 times worth of the money their clients cash in so you don’t have to worry about losing money due to technical problems or crisis.
Outstanding customer service: Exness has a great customer support policy. They can now helping clients in Chinese, Thai, Vietnamese, Bahasa Malaysia, and Persian. Furthermore, they have a 24/7 customer service system that will help you with any problems you encounter, which is super helpful to new traders.
Instant withdrawal system: To me, instant withdrawal is the key feature that makes Exness stand out. Instant withdrawal means when you withdraw your funds or transfer money, it only takes milliseconds to complete the task. How so? Because Exness leaves that job to the machines, so it is way faster than human. Compared to other brokers, Exness’ withdrawal speed is the fastest. You can try withdraw money at Exness and other brokers to see it for yourself. The difference is significant. More impressive, Exness allows traders to deposit and withdraw on weekends, a feature that no other brokers have. This is one of the main reasons why traders decide to trade Exness accounts.