10 minute read
Which Exness Account is Best for Beginners? A Comprehensive Guide
from Exness
by Exness Blog
The world of Forex trading can be both exciting and daunting, especially for beginners. With numerous brokers offering a variety of account types, choosing the right one is crucial to kickstart your trading journey. Exness, a globally recognized Forex broker, stands out for its reliability, low spreads, and beginner-friendly features. But with several account types to choose from, which Exness account is best for beginners? In this in-depth guide, we’ll explore Exness account types, their features, and why one stands out as the ideal choice for those just starting out. By the end, you’ll have a clear understanding of which account suits your needs and how to leverage it for success.
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Why Choose Exness for Forex Trading?
Before diving into the account types, let’s understand why Exness is a preferred choice for beginner traders. Founded in 2008, Exness has built a reputation for transparency, competitive trading conditions, and robust customer support. Here are some reasons why Exness is beginner-friendly:
· Low Minimum Deposits: Some accounts require as little as $1 to start trading, making it accessible for newbies with limited capital.
· User-Friendly Platforms: Exness supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both known for their intuitive interfaces and powerful tools.
· Tight Spreads: Low spreads reduce trading costs, which is critical for beginners managing small accounts.
· Educational Resources: Exness offers webinars, tutorials, and market analysis to help new traders learn the ropes.
· Regulation and Trust: Exness is regulated by top-tier authorities like the FCA and CySEC, ensuring a secure trading environment.
With these advantages in mind, let’s explore the Exness account types to determine which one is best for beginners.
Overview of Exness Account Types
Exness offers several account types designed to cater to different trading styles and experience levels. These include:
· Standard Cent Account
· Standard Account
· Pro Account
· Raw Spread Account
· Zero Account
Each account has unique features, such as minimum deposits, spreads, leverage, and commission structures. For beginners, the focus should be on accounts that offer low risk, affordability, and ease of use. Let’s break down each account type to see which one fits the bill.
1. Standard Cent Account: The Best Choice for Beginners
The Standard Cent Account is widely regarded as the best Exness account for beginners, and for good reason. This account is specifically designed for those new to Forex trading, allowing them to trade with minimal risk while gaining real market experience. Here’s why it stands out:
Key Features of the Standard Cent Account
· Minimum Deposit: As low as $1, making it highly accessible for beginners with limited funds.
· Cent-Based Trading: Trades are executed in cents rather than dollars, reducing the financial impact of losses. For example, a 1-lot trade is equivalent to 1,000 units of the base currency, not 100,000.
· Low Spreads: Spreads start from 0.3 pips, keeping trading costs low.
· No Commissions: Unlike some professional accounts, the Standard Cent Account is commission-free.
· High Leverage: Offers leverage up to 1:2000 (or unlimited on MT4 in some regions), allowing small accounts to control larger positions.
· Available Instruments: Includes major currency pairs, metals, and cryptocurrencies, providing ample trading opportunities.
Why It’s Ideal for Beginners
The Standard Cent Account is perfect for new traders because it minimizes financial risk while offering a real trading environment. Unlike a demo account, which uses virtual funds, the Standard Cent Account allows you to experience real market conditions—such as spreads, slippage, and price volatility—without risking significant capital. This makes it an excellent learning tool for mastering trading strategies and understanding market dynamics.
For example, a beginner with $10 can open a Standard Cent Account and trade micro-lots (0.01 lots), which is equivalent to 100 units of the base currency. This small position size reduces the emotional stress of trading and allows you to practice risk management without fear of large losses.
Who Should Choose This Account?
· Traders with limited capital ($1–$100).
· Those new to Forex who want to practice with real money.
· Beginners looking to test strategies in a low-risk environment.
“The Standard Cent Account is like training wheels for Forex trading—it gives you the confidence to trade without the fear of wiping out your account.”
2. Standard Account: A Versatile Option for Growing Traders
The Standard Account is another beginner-friendly option, particularly for those with slightly more capital and confidence. It’s Exness’s most popular account type, used by approximately 80% of its traders. Here’s what you need to know:
Key Features of the Standard Account
· Minimum Deposit: Starts at $1 (depending on the payment method and region).
· Spreads: Starting from 0.2 pips for major currency pairs, slightly tighter than the Standard Cent Account.
· No Commissions: Like the Standard Cent Account, it’s commission-free.
· Leverage: Up to 1:2000 or unlimited in some regions, offering flexibility for small accounts.
· Trading Volume: Minimum lot size of 0.01, with a maximum of 200 lots per trade.
· Instruments: Over 120 currency pairs, plus metals, cryptocurrencies, and indices.
Why It’s Suitable for Beginners
The Standard Account is a step up from the Standard Cent Account, offering tighter spreads and access to a wider range of instruments. It’s ideal for beginners who have some experience (perhaps through a demo or cent account) and are ready to trade larger volumes. The low minimum deposit ensures accessibility, while the absence of commissions keeps costs manageable.
However, because trades are in standard lots (not cents), the financial risk is higher than with the Standard Cent Account. For example, a 0.01-lot trade in a Standard Account is 1,000 units of the base currency, which carries more risk than the same trade in a cent account.
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Who Should Choose This Account?
· Traders with $50–$500 in capital.
· Beginners transitioning from demo or cent accounts.
· Those comfortable with slightly higher risk for potentially greater returns.
3. Pro Account: For Experienced Beginners
The Pro Account is designed for traders with some experience, but it may appeal to confident beginners who want professional-grade conditions. Here’s a closer look:
Key Features of the Pro Account
· Minimum Deposit: $200 (varies by region).
· Spreads: Very low, starting from 0.1 pips.
· No Commissions: Commission-free trading for most instruments.
· Leverage: Unlimited leverage on MT4, up to 1:2000 on MT5.
· Instruments: Wide range, including 120+ currency pairs, metals, and cryptocurrencies.
Why It’s Less Ideal for Beginners
While the Pro Account offers excellent trading conditions, its higher minimum deposit and focus on professional traders make it less suitable for absolute beginners. The low spreads and unlimited leverage are attractive, but they require a solid understanding of risk management to avoid significant losses. Beginners may find the Standard Cent or Standard Account more forgiving as they build their skills.
Who Should Choose This Account?
· Traders with at least 6–12 months of experience.
· Beginners with larger capital ($200+) and a strong grasp of risk management.
· Those seeking tight spreads and professional-grade features.
4. Raw Spread Account: Advanced but Risky
The Raw Spread Account is tailored for advanced traders who prioritize ultra-low spreads. Here’s a quick overview:
Key Features of the Raw Spread Account
· Minimum Deposit: $200.
· Spreads: From 0.0 pips, with a commission of $7 per lot.
· Leverage: Up to 1:2000 on MT5, unlimited on MT4.
· Instruments: Similar to other accounts, including forex, metals, and crypto.
Why It’s Not Ideal for Beginners
The Raw Spread Account’s commission-based structure and higher minimum deposit make it less beginner-friendly. The ultra-low spreads are appealing, but the added commission can eat into profits for small accounts. Additionally, managing a commission-based account requires a deeper understanding of trading costs, which may overwhelm new traders.
5. Zero Account: For Scalpers and Experts
The Zero Account is an ECN (Electronic Communication Network) account designed for high-frequency traders and scalpers. Here’s what it offers:
Key Features of the Zero Account
· Minimum Deposit: $200.
· Spreads: From 0.0 pips on major pairs, with a commission of $7 per lot.
· Leverage: Up to 1:2000 or unlimited.
· Instruments: Extensive, including forex, metals, and cryptocurrencies.
Why It’s Not Suitable for Beginners
Like the Raw Spread Account, the Zero Account’s commission structure and higher minimum deposit make it less suitable for beginners. It’s designed for traders who execute large volumes and need lightning-fast execution, which isn’t a priority for those still learning the basics.
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Why the Standard Cent Account is the Best Choice for Beginners
After evaluating all Exness account types, the Standard Cent Account emerges as the clear winner for beginners. Here’s why:
· Low Financial Risk: The cent-based trading system allows you to trade with minimal capital, reducing the emotional and financial stress of losses.
· Affordable Entry: A $1 minimum deposit makes it accessible to anyone, regardless of budget.
· Real Market Experience: Unlike demo accounts, the Standard Cent Account exposes you to real market conditions, helping you develop practical trading skills.
· No Commissions: The absence of commissions simplifies cost management, which is crucial for beginners.
· Flexible Leverage: High leverage (up to 1:2000) allows small accounts to trade larger positions, though beginners should use leverage cautiously.
“The Standard Cent Account is the perfect sandbox for new traders—you can experiment, learn, and grow without risking your life savings.”
How to Get Started with the Standard Cent Account
Ready to open a Standard Cent Account with Exness? Follow these simple steps:
· Register with Exness: Visit the Exness website and sign up for an account. The process is straightforward and takes just a few minutes.
· Choose the Standard Cent Account: During the account creation process, select the Standard Cent Account from the list of options.
· Deposit Funds: Make a minimum deposit of $1 using your preferred payment method (e.g., bank card, e-wallet, or cryptocurrency).
· Download a Trading Platform: Install MT4 or MT5 on your desktop or mobile device. Exness provides detailed guides to help you set up.
· Start Trading: Begin with micro-lots (0.01 lots) to practice your strategy and familiarize yourself with the platform.
Pro Tip: Use Exness’s educational resources, such as webinars and tutorials, to enhance your trading knowledge. Practice risk management by setting stop-loss orders and limiting your position size.
Tips for Success as a Beginner Trader
To make the most of your Exness Standard Cent Account, follow these tips:
· Start Small: Trade micro-lots to minimize risk while you learn.
· Learn Risk Management: Never risk more than 1–2% of your account on a single trade.
· Use a Demo Account First: If you’re unsure about real trading, practice on a demo account before switching to the Standard Cent Account.
· Study the Market: Use Exness’s market analysis tools to stay informed about currency pair movements.
· Avoid Over-Leveraging: High leverage can amplify profits but also losses. Use it wisely.
· Join the Exness Community: Engage with other traders through forums or social media to share tips and insights.
Common Mistakes to Avoid
As a beginner, it’s easy to fall into traps that can hinder your progress. Here are some mistakes to watch out for:
· Overtrading: Trading too frequently or with large position sizes can lead to significant losses.
· Ignoring Risk Management: Failing to set stop-loss orders or risking too much capital can wipe out your account.
· Chasing Losses: Trying to recover losses by taking impulsive trades often leads to bigger losses.
· Neglecting Education: Forex trading requires continuous learning. Don’t skip Exness’s educational resources.
Conclusion: Start Your Trading Journey with Confidence
Choosing the right Exness account is a critical step for beginners looking to succeed in Forex trading. The Standard Cent Account is the best choice for new traders due to its low minimum deposit, cent-based trading, and commission-free structure. It offers a safe and affordable way to gain real market experience while minimizing financial risk. As you grow in confidence and skill, you can transition to the Standard or Pro Account to access tighter spreads and more advanced features.
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