9 minute read
What is the Standard Cent Account in Exness? A Comprehensive Guide
from Exness
by Exness Blog
Forex trading can feel like stepping into a fast-moving river—exciting but intimidating, especially for beginners with limited capital or those testing new strategies. Choosing the right trading account is a critical first step to navigate this dynamic market successfully. Among the many options offered by Exness, a globally recognized forex and CFD broker, the Standard Cent Account stands out as a beginner-friendly choice designed to minimize risk while providing real-market exposure.
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In this comprehensive guide, we’ll explore what the Exness Standard Cent Account is, its key features, benefits, drawbacks, and how it compares to other account types. Whether you’re new to forex or an experienced trader refining strategies, this article will help you decide if the Standard Cent Account is the right fit for your trading journey.
What is the Exness Standard Cent Account?
The Exness Standard Cent Account is a specialized trading account designed for novice traders or those looking to test strategies with minimal financial risk. Unlike standard accounts that measure balances in dollars or other major currencies, this account operates in cent lots, where the balance is displayed in cents. For example, if you deposit $10, your account balance will appear as 1,000 USC (United States Cents). This micro-trading approach allows traders to open smaller positions, significantly reducing financial exposure.
The Standard Cent Account is unique to Exness as it’s the only account type offered by the broker that uses cent lots, where 1 cent lot equals 100,000 cents or 1,000 USD. It serves as a bridge between demo accounts (which use virtual funds) and standard accounts (which require larger capital). By offering real-market conditions with reduced risk, it’s an ideal stepping stone for traders transitioning from practice to live trading.
Key Features of the Exness Standard Cent Account
To understand why the Standard Cent Account is so popular, let’s break down its core features:
1. Low Minimum Deposit
The Standard Cent Account requires a minimum deposit of just $10 (or equivalent in other currencies like EUR, GBP, or INR), making it one of the most accessible accounts in the industry. Some payment methods may allow deposits as low as $1, depending on the region and provider, further lowering the entry barrier for beginners.
2. Cent Lot Trading
Trades are executed in cent lots, where 1 cent lot = 1,000 units of the base currency. This allows traders to open micro-positions, minimizing financial risk. For instance, a 10-pip loss on a 1-cent lot costs just $0.10, compared to $10 on a standard lot. This micro-trading structure is perfect for beginners or those testing new strategies.
3. No Commissions
The account is commission-free, with trading costs covered by spreads starting from 0.3 pips on major currency pairs. This simplifies cost calculations for new traders, as they only need to account for spreads rather than additional fees.
4. High Leverage
Traders can access leverage up to 1:2000 (or 1:400 for clients registered with Exness’s Kenyan entity), enabling control of larger positions with minimal capital. While high leverage amplifies profit potential, it also increases risk, so beginners should use it cautiously.
5. Market Execution
Orders are executed with market execution, ensuring no requotes. This provides reliable trade execution, though it may involve slippage during volatile market conditions.
6. Limited Trading Instruments
The Standard Cent Account supports up to 37 trading instruments, including forex pairs, metals (e.g., XAU/USD), and select cryptocurrencies. While this is fewer than other Exness accounts, it’s sufficient for beginners to practice and diversify.
7. Trading Platforms
The account is available exclusively on MetaTrader 4 (MT4), a robust and user-friendly platform with advanced charting tools and support for automated trading via Expert Advisors (EAs).
Benefits of the Exness Standard Cent Account
The Standard Cent Account offers several advantages, making it a go-to choice for specific types of traders:
1. Low-Risk Environment
With cent-based trading, losses are scaled down proportionally. For example, a $10 deposit translates to 1,000 cents, allowing traders to execute multiple small trades without depleting their accounts. This makes it ideal for beginners or those with limited budgets.
2. Real-Market Experience
Unlike demo accounts, which use virtual funds, the Standard Cent Account exposes traders to live market conditions, including price fluctuations and slippage. This hands-on experience helps build confidence and develop trading skills in a real-world setting.
3. Affordability
The low minimum deposit (starting at $10) makes forex trading accessible to traders worldwide, especially in emerging markets like India or Vietnam, where larger deposits may be prohibitive.
4. Strategy Testing
Experienced traders can use the Standard Cent Account to test new strategies or automated systems (e.g., EAs) in a live environment without risking significant capital. This cost-effective testing ground provides realistic feedback on strategy performance.
5. Swap-Free Option
For eligible clients (e.g., those observing Sharia law), a swap-free (Islamic) option is available, eliminating overnight interest charges. This enhances accessibility for a broader range of traders.
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Drawbacks of the Exness Standard Cent Account
While the Standard Cent Account is excellent for beginners, it has limitations that traders should consider:
1. Limited Instrument Range
The account is restricted to forex, metals, and select cryptocurrencies, with no access to indices, stocks, or other CFDs available on other Exness accounts. This limits diversification for traders looking to explore broader markets.
2. Wider Spreads
Spreads start at 0.3 pips but can widen during volatile market conditions, increasing trading costs compared to professional accounts like Raw Spread or Zero, which offer tighter spreads.
3. Limited Profit Potential
Due to the cent-based structure, profits are proportionally smaller. For example, a 20-pip gain on a 1-cent lot yields $0.20, compared to $20 on a standard lot. This makes the account less suitable for traders aiming for significant returns.
4. Not Ideal for High-Volume Trading
The account caps lot sizes at 200 cent lots and is designed for small deposits. Traders with larger capital or those engaging in high-frequency trading may find Standard or Professional accounts more cost-effective.
5. No Demo Account
Unlike other Exness account types, the Standard Cent Account does not offer a demo version, meaning traders must commit real funds to test it.
How Does the Standard Cent Account Compare to Other Exness Accounts?
Exness offers five main account types: Standard, Standard Cent, Raw Spread, Zero, and Pro. Here’s how the Standard Cent Account stacks up:
· Standard Account: Offers standard lots (1 lot = 100,000 units), wider instrument access, and spreads from 0.2 pips. It’s ideal for casual and intermediate traders but requires larger capital and involves higher risk.
· Raw Spread Account: Features spreads from 0.0 pips with a small commission, suitable for scalpers and high-frequency traders. It requires a $200 minimum deposit, making it less accessible for beginners.
· Zero Account: Offers zero spreads on top instruments with a commission, ideal for traders prioritizing low spreads. Like Raw Spread, it requires a $200 minimum deposit.
· Pro Account: Provides instant execution with no commission and spreads from 0.1 pips, designed for experienced traders. It also requires a $200 minimum deposit.
The Standard Cent Account is the best choice for beginners or strategy testers due to its low-risk, micro-trading structure, while other accounts cater to more experienced traders with larger capital.
Who Should Use the Exness Standard Cent Account?
The Standard Cent Account is ideal for:
Beginners: New traders can learn market dynamics and practice strategies with minimal financial risk.
Traders with Limited Capital: The low $10 minimum deposit makes it accessible for those with small budgets.
Strategy Testers: Experienced traders can test new approaches or EAs in a live environment without significant investment.
However, it’s less suitable for high-volume traders, scalpers, or those seeking broader market access, who may prefer Exness’s Professional accounts.
How to Open a Standard Cent Account with Exness
Opening a Standard Cent Account is straightforward:
1. Register on Exness: Visit Open An Account or Visit Brokers 👈 and complete the registration form with your email, phone number, and a strong password. Verify your email via the confirmation link.
2. Verify Your Identity: Submit a government-issued ID (e.g., passport) and proof of address (e.g., utility bill) to comply with AML/KYC regulations.
3. Select the Standard Cent Account: In your Exness Personal Area, navigate to “My Accounts,” click “Open New Account,” and choose “Standard Cent Account.” Select your preferred currency (e.g., USC) and leverage (e.g., 1:100 for beginners).
4. Deposit Funds: Go to the “Deposit” section, choose a payment method (e.g., bank card, e-wallet, or crypto), and deposit at least $10. Funds are typically credited instantly.
5. Start Trading: Download MT4, log in with your account credentials, and begin trading.
Tips for Success with the Standard Cent Account
To maximize your experience with the Standard Cent Account:
Start Small: Use 1–2 cent lots to test strategies and minimize risk.
Manage Leverage: Stick to moderate leverage (e.g., 1:100–1:500) to avoid significant losses.
Track Spreads: Monitor spread costs, especially during volatile market hours.
Practice Risk Management: Set stop-loss orders to protect your capital.
Transition Gradually: Move to a Standard or Professional account as you gain confidence and capital.
Why Choose Exness for Your Standard Cent Account?
Exness, founded in 2008, is a globally trusted broker regulated by top-tier authorities like CySEC and FCA. It’s known for its transparency, instant withdrawals (98% processed in under 1 minute), and competitive trading conditions. The Standard Cent Account reflects Exness’s commitment to accessibility, making forex trading inclusive for beginners and low-budget traders worldwide.
Conclusion
The Exness Standard Cent Account is a game-changer for beginners and strategy testers, offering a low-risk, affordable entry into forex trading. With its cent-based structure, low minimum deposit, and real-market exposure, it’s an excellent tool for building skills and confidence. However, its limited instrument range and smaller profit potential make it less suitable for advanced or high-volume traders. By understanding its features, benefits, and drawbacks, you can decide if this account aligns with your trading goals. Ready to start? Sign up with Exness today and take your first step into the exciting world of forex trading.
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