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How to Open Zero Spread Account in Exness: A Step-by-Step Guide
from Exness
by Exness Blog
Forex trading has become increasingly popular, offering traders the opportunity to capitalize on currency price movements. Among the many brokers available, Exness stands out for its competitive trading conditions, diverse account types, and innovative features. One of its most attractive offerings is the Zero Spread Account, designed for traders seeking minimal trading costs and precise execution. In this comprehensive guide, we’ll walk you through everything you need to know about opening a Zero Spread Account with Exness, its benefits, eligibility criteria, and tips to your trading experience. Whether you’re a scalper, day trader, or high-frequency trader, this account could be the key to enhancing your trading strategy.
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What is a Zero Spread Account?
Before diving into the account-opening process, it’s essential to understand what a Zero Spread Account is and why it’s appealing. In forex trading, the spread is the difference between the bid (sell) and ask (buy) prices of a currency pair, representing the cost of entering a trade. A Zero Spread Account eliminates this spread for specific instruments, meaning there’s no difference between the bid and ask prices. Instead, traders pay a fixed commission per lot traded, offering greater cost transparency and predictability.
The Exness Zero Spread Account is particularly suited for traders who rely on tight pricing and fast execution, such as:
· Scalpers: Traders who execute multiple short-term trades to profit from small price movements.
· Day Traders: Those who open and close positions within the same trading day.
· High-Frequency Traders: Professionals using automated systems to execute numerous trades rapidly.
With zero spreads on the top 30 instruments for 95% of the trading day and low commissions starting from $0.05 per side per lot, this account minimizes transaction costs, making it ideal for high-volume trading strategies.
Why Choose Exness for a Zero Spread Account?
Exness, founded in 2008, is a globally recognized forex and CFD broker serving over 1 million traders and 100,000 partners worldwide. It’s regulated by top-tier authorities like the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and others, ensuring a secure trading environment. Here’s why Exness is a top choice for opening a Zero Spread Account:
· Cost Efficiency: Zero spreads eliminate the cost of fluctuating spreads, especially during volatile market conditions. The fixed commission structure allows precise cost calculations.
· Fast Execution: Market execution with no requotes ensures orders are filled at the best available price, critical for scalping and high-frequency trading.
· High Leverage: Exness offers leverage up to 1:2000 (subject to conditions), amplifying trading potential, though traders should manage risks carefully.
· Wide Range of Instruments: Trade forex pairs, commodities (like XAU/USD), indices, cryptocurrencies, and stocks with zero spreads on select instruments.
· Transparency: Exness is known for its transparent pricing and order execution, with no hidden fees.
· Advanced Platforms: Access MetaTrader 4, MetaTrader 5, Exness Web Terminal, and the Exness Trade App to execute trades seamlessly.
Exness’s commitment to innovation and customer satisfaction makes it a trusted broker for traders seeking low-cost, high-efficiency trading conditions.
Benefits of the Exness Zero Spread Account
The Zero Spread Account offers several advantages that cater to active and professional traders. Here are the key benefits:
· Zero Spreads on Top Instruments: Enjoy zero spreads on major currency pairs (e.g., EUR/USD, GBP/USD, USD/JPY) and commodities like XAU/USD for 95% of the trading day, reducing trading costs significantly.
· Low Commissions: Commissions start at $0.05 per lot per side, making it cost-effective compared to traditional spread-based accounts.
· Predictable Costs: The fixed commission structure allows traders to calculate exact trading costs in advance, ideal for strategies requiring precision.
· Market Execution: Orders are executed at the best available market price with no requotes, ensuring reliability during volatile periods.
· No Order Limits: Open unlimited orders and positions, perfect for high-frequency trading or Expert Advisors (EAs).
· High Leverage: Leverage up to 1:400 (or higher under specific conditions) amplifies trading potential, though it increases risk.
· Swap-Free Options: Residents of Muslim countries can access swap-free accounts automatically, avoiding overnight interest fees.
These features make the Zero Spread Account a powerful tool for traders who prioritize cost efficiency and execution speed.
Eligibility Criteria for Opening a Zero Spread Account
To open a Zero Spread Account with Exness, you must meet the following requirements:
· Age: Be at least 18 years old to engage in financial trading.
· Identification Documents: Provide a government-issued ID (e.g., passport, driver’s license) and proof of residency (e.g., utility bill, bank statement) for verification.
· Minimum Deposit: The minimum deposit varies by region, typically starting at $200 or $500. Check the Exness website for region-specific requirements.
· Trading Experience: While not mandatory, the account is best suited for traders with some experience due to its advanced features and commission-based structure.
Step-by-Step Guide to Open a Zero Spread Account in Exness
Opening a Zero Spread Account with Exness is a straightforward process that takes just a few minutes. Follow these steps to get started:
Step 1: Sign Up for an Exness Account
· Visit the Exness Website: Go to exnesss.com and click “Register” or “Open an Account.”
· Fill in Personal Details: Enter your email address, phone number, and create a password. Alternatively, sign up using your Google, Apple, or Facebook account.
· Verify Your Email: Exness will send a verification code to your email. Enter the code to confirm your account.
Step 2: Complete Profile Verification
· Submit Personal Information: Log in to your Exness Personal Area (PA) and provide your full name, date of birth, and address.
· Upload Documents: Upload a clear copy of your government-issued ID and proof of residency. Ensure documents are valid and legible to avoid delays.
· Wait for Approval: Verification typically takes 24-48 hours. You’ll receive an email once your account is verified.
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Step 3: Select the Zero Spread Account
· Access the Personal Area: Log in to your Exness PA dashboard.
· Choose Account Type: Navigate to the “Accounts” section and select “Open New Account.”
· Select Zero Spread Account: Choose the Zero Spread Account from the list of professional accounts. Review its features, such as zero spreads and commission rates.
· Set Account Preferences: Select your preferred base currency (e.g., USD, EUR, GBP), leverage, and trading platform (MT4 or MT5).
Step 4: Fund Your Account
· Choose a Deposit Method: Exness offers various deposit options, including bank transfers, credit/debit cards, e-wallets (e.g., Skrill, Neteller), and cryptocurrencies.
· Deposit the Minimum Amount: Ensure you deposit at least the minimum required amount ($200 or $500, depending on your region).
· Confirm the Transaction: Funds are typically credited instantly for most methods, though bank transfers may take 1-3 business days.
Step 5: Start Trading
· Download a Trading Platform: Install MetaTrader 4, MetaTrader 5, or use the Exness Web Terminal/Exness Trade App.
· Log In: Use your account credentials (provided in the PA) to log in to the platform.
· Begin Trading: Access zero spreads on eligible instruments and execute trades with market execution.
Tips for Successful Trading with a Zero Spread Account
To maximize the benefits of your Exness Zero Spread Account, consider these tips:
· Test with a Demo Account First: Exness offers a risk-free demo account to practice strategies and familiarize yourself with the Zero Spread Account’s features. This allows you to experience zero spreads in a simulated environment without financial risk.
· Choose the Right Trading Strategy: The Zero Spread Account is ideal for scalping, day trading, or high-frequency trading. Avoid long-term strategies like swing trading, as commissions may accumulate over time.
· Manage Risk Effectively: Use stop-loss orders, diversify your portfolio, and avoid over-leveraging to protect your capital. The absence of spreads can encourage aggressive trading, so maintain discipline.
· Monitor Market Volatility: While zero spreads are available 95% of the day for top instruments, spreads may float during economic news or rollovers. Stay informed using Exness’s economic calendar.
· Leverage Exness Tools: Utilize advanced charting tools, trading signals, and the Exness calculator to estimate swap and commission costs.
· Understand Commissions: Calculate commissions based on your trading volume to ensure they align with your strategy. For example, a $0.05 per lot per side commission is cost-effective for high-frequency traders.
· Stay Updated on Eligible Instruments: Zero spreads apply to specific pairs (e.g., EUR/USD, XAU/USD). Check the Exness website or contact support for the latest list.
Pros and Cons of the Exness Zero Spread Account
Like any trading account, the Zero Spread Account has its advantages and limitations. Here’s a balanced overview:
Pros
· Zero Spreads: Eliminates spread costs on top instruments, ideal for cost-conscious traders.
· Transparent Pricing: Fixed commissions make trading costs predictable.
· Fast Execution: Market execution with no requotes ensures reliability.
· High Leverage: Up to 1:400 (or higher) amplifies trading potential.
· No Order Limits: Supports unlimited orders and EAs, perfect for algorithmic trading.
Cons
· Commission Fees: Fixed commissions may add up for low-volume traders or those holding positions long-term.
· Minimum Deposit: The $200-$500 minimum deposit may be high for beginners.
· Limited Zero Spread Instruments: Zero spreads apply only to select pairs, with floating spreads on others during volatile periods.
· Not Ideal for Beginners: The account’s advanced features may overwhelm novice traders.
Common Challenges and How to Overcome Them
Traders may encounter issues during the account-opening process or while trading. Here’s how to address common challenges:
· Verification Delays: Incomplete or unclear documents can slow down verification. Ensure all uploads are high-quality and match your provided details.
· Funding Issues: Some deposit methods may incur fees or delays. Choose instant options like e-wallets or cards for faster funding.
· Spread Fluctuations: During news events or rollovers, spreads may float. Avoid trading during these periods or monitor the economic calendar.
· Commission Costs: For low-frequency traders, commissions may outweigh benefits. Consider the Exness Raw Spread Account for variable spreads with lower commissions.
Exness Zero Spread vs Raw Spread Account: Which is Better?
Exness offers both Zero Spread and Raw Spread Accounts for professional traders. Here’s a quick comparison to help you decide:
· Zero Spread Account: Fixed zero spreads on top instruments, with commissions starting at $0.05 per lot per side. Ideal for predictable costs and high-frequency trading.
· Raw Spread Account: Variable spreads starting at 0.0 pips, with commissions up to $3.5 per lot. Suited for traders who prefer tight spreads during normal market conditions but can handle fluctuating spreads.
Choose the Zero Spread Account if you prioritize cost predictability and trade frequently. Opt for the Raw Spread Account if you trade larger volumes and can adapt to spread fluctuations.
Conclusion
The Exness Zero Spread Account is a powerful tool for traders seeking low-cost, high-efficiency trading conditions. With zero spreads on top instruments, transparent commissions, and market execution, it’s ideal for scalpers, day traders, and high-frequency traders. By following the step-by-step guide above, you can open an account, fund it, and start trading with confidence. However, success depends on choosing the right strategy, managing risks, and leveraging Exness’s advanced tools.
Before committing, test the account using Exness’s demo platform to ensure it aligns with your trading style. With its competitive features and regulatory backing, Exness remains a top choice for traders worldwide.
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