13 minute read
What Is an Exness Cent Account and How to Open One
Exness is a well-known broker that offers a wide range of accounts designed to meet the needs of different types of traders. One of the most popular account types for new traders is the Exness Cent Account. This account type is perfect for beginners or those looking to practice their trading skills without the risk of losing significant amounts of capital. With a Cent Account, traders can open positions with smaller amounts of money, making it an affordable way to enter the world of forex and CFD trading.
In this guide, we’ll explore what an Exness Cent Account is, how it works, and the steps you need to take to open one. We’ll also highlight the benefits of using a Cent Account, including low-risk trading and the opportunity to gain real market experience without a large financial commitment. Whether you're just starting your trading journey or looking for a safer way to test new strategies, the Exness Cent Account provides an accessible and flexible option.
What is an Exness Cent Account?
An Exness Cent Account is a type of trading account designed for beginner traders or those looking to practice with real market conditions but with minimal risk. In a Cent Account, the value of your deposit is denominated in cents rather than dollars, which allows you to trade micro-sized positions. For example, if you deposit $10, your account balance would be 1,000 cents. This makes the Cent Account a great option for new traders who want to test their strategies, learn the trading platform, or gain experience in the markets without risking large amounts of money.
Unlike standard accounts where trades are executed in whole units, Cent Accounts allow for much smaller position sizes, making it easier to control risk and minimize losses. With the Cent Account, you can trade in micro-lots, which means you’re effectively trading in smaller increments, allowing you to start with low capital and build your experience gradually. This account type is ideal for individuals who are just starting in forex or CFD trading and want to practice in a live environment before transitioning to larger accounts with higher risks.
Key Features of an Exness Cent Account
The Exness Cent Account offers several features that make it a popular choice for new traders and those looking to practice trading with minimal financial risk. Here are the key features that set the Cent Account apart from other account types:
1. Low Minimum Deposit
One of the standout features of the Exness Cent Account is its low minimum deposit requirement. You can open a Cent Account with as little as $1 (100 cents). This makes it accessible for beginners who want to start trading with minimal capital and gain real market experience without significant financial risk.
2. Micro-sized Trading Units
With a Cent Account, you can trade in micro-lots, meaning each pip movement has a smaller impact on your balance. For instance, if you deposit $10, it’s equivalent to 1,000 cents in your account, which allows you to trade with smaller position sizes. This helps reduce the potential for large losses and enables traders to experiment with low-risk trades.
3. Leverage Options
The Exness Cent Account offers a high leverage of up to 1:2000, depending on the market and asset being traded. This allows traders to control larger positions with a smaller margin, increasing the potential for higher returns, although with higher risk. For beginners, leverage can be a useful tool to amplify profits on smaller trades while learning how to manage risks.
4. Access to Exness’ Trading Platforms
As an Exness Cent Account holder, you have access to the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are two of the most popular and powerful trading platforms in the industry. These platforms offer advanced charting, technical analysis tools, automated trading options, and more, giving you all the resources you need to trade effectively.
5. Tight Spreads
Exness offers competitive spreads on Cent Accounts, with spreads as low as 0.3 pips for some major currency pairs. Tight spreads allow traders to keep their trading costs low, especially on high-frequency trades. This is especially beneficial for beginners who want to maximize their profits without worrying about high transaction costs.
6. No Commissions on Some Assets
Another advantage of the Exness Cent Account is the possibility of zero commissions on certain trading assets. While spreads apply, you may not need to pay any additional commissions for specific currency pairs, making it a cost-effective way to start trading with real money.
7. Real Market Experience with Low Risk
Trading with a Cent Account allows you to gain real market experience in a live trading environment, without the risk of substantial losses. Since the trades are executed in micro-sized units, the Cent Account lets you practice and learn how to manage positions, set stop-loss orders, and handle market volatility with minimal financial exposure.
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Who Should Open an Exness Cent Account?
The Exness Cent Account is ideal for beginner traders who are looking to enter the world of forex and CFD trading with minimal risk. If you're new to trading and want to gain experience in a real market environment without committing large sums of capital, the Cent Account provides a safe, low-cost entry point. With a minimum deposit requirement as low as $1, traders can start practicing and learning the basics of trading—such as reading market charts, setting stop-loss orders, and experimenting with strategies—without the fear of significant losses. This makes the Cent Account a perfect choice for those just starting out on their trading journey.
In addition to beginners, the Exness Cent Account is also suitable for traders who want to test new strategies or gain hands-on experience without risking large amounts of money. If you’ve developed a trading strategy or are learning to trade, the Cent Account offers the perfect platform to test it in real market conditions with micro-lot sizes. This allows for experimentation and learning in a low-risk environment before transitioning to larger accounts. Furthermore, traders who want to practice risk management or build confidence in trading with leverage will benefit from the Cent Account’s small position sizes and low minimum deposit, giving them the flexibility to develop their skills gradually.
Start Trading: Open Exness Account or Visit Website
Benefits of an Exness Cent Account
The Exness Cent Account offers numerous advantages, especially for beginner traders and those looking to practice trading without significant financial risk. Below are the key benefits of opening an Exness Cent Account:
1. Low Minimum Deposit Requirement
One of the biggest benefits of the Exness Cent Account is its low minimum deposit of just $1 (100 cents). This makes it an ideal option for those who want to enter the world of forex and CFD trading without committing a large amount of capital. New traders or those on a limited budget can start their trading journey with minimal financial risk, gaining real market experience without a heavy investment.
2. Micro-lot Trading for Lower Risk Exposure
The Cent Account allows traders to open positions in micro-lots, meaning you trade in smaller increments compared to standard accounts. This reduces the exposure to market fluctuations, which is especially beneficial for new traders who may not yet have the experience to manage larger positions. Micro-lot trading makes it easier to start small and gain confidence before increasing trade size.
3. Real Market Experience with Low Risk
Even though you are trading with a small deposit, the Cent Account allows you to gain real market experience. You are trading in live conditions with actual market fluctuations, giving you hands-on experience with the dynamics of forex and CFD markets. This makes the Cent Account an excellent choice for learning how to manage trades, use technical indicators, and implement risk management strategies in a low-risk environment.
4. High Leverage Options
Exness offers leverage of up to 1:2000 on Cent Accounts, which can amplify both potential profits and losses. While leverage should be used cautiously, it provides the opportunity to control larger positions with a smaller margin. For beginners, this allows you to maximize the potential of your small deposit while minimizing your risk exposure due to micro-lot trading.
5. Competitive Spreads
The Cent Account comes with competitive spreads, often as low as 0.3 pips for major currency pairs. This helps reduce the cost of trading, making it easier for traders to make profits from small price movements, which is common when trading with micro-lots. Tight spreads are particularly important for day traders or scalpers who want to minimize transaction costs.
How to Open an Exness Cent Account
Opening an Exness Cent Account is a straightforward process that takes just a few minutes. Whether you're a beginner looking to practice trading with real market conditions or want to test your strategies with minimal financial risk, the Cent Account is a great option. Here’s a step-by-step guide on how to open your own Exness Cent Account:
1. Register for an Exness Account
Visit the Exness Website: Go to the official Exness website (www.exness.com).
Click on ‘Open an Account’: On the homepage, look for the “Open an Account” button. This will take you to the registration page.
Fill in Personal Information: You will need to provide your name, email address, and phone number. You may also be asked to select your country of residence.
2. Choose Cent Account as the Account Type
Select Account Type: During the registration process, you will be asked to choose the type of trading account you want to open. Select Cent Account from the available options.
Currency: Choose your account currency (usually USD, but Exness offers various options) and make sure to select cent-based currency. This means your deposits and trades will be denominated in cents instead of dollars, enabling you to trade smaller amounts.
3. Verify Your Identity
Identity Verification: After filling in the required details, Exness will ask you to verify your identity. This is an important step to comply with international regulations and ensure security. You’ll need to upload copies of the following documents: Proof of Identity: A government-issued ID, such as a passport, national ID card, or driver’s license. Proof of Address: A recent utility bill, bank statement, or government document that shows your name and address.
Verification Time: The verification process can take anywhere from a few minutes to a few hours. Once verified, you will be able to proceed with depositing funds into your account.
4. Deposit Funds into Your Cent Account
Choose a Payment Method: Exness offers a variety of deposit methods, including bank transfers, credit/debit cards, and e-wallets like Skrill, Neteller, and Perfect Money.
Deposit Amount: The minimum deposit to fund your Cent Account is usually $1 (100 cents). You can deposit more if you wish, but this low minimum allows you to start trading with very little capital.
Processing Time: Deposits are generally processed quickly, especially with electronic payment methods. Once your funds are deposited, they will appear in your Cent Account, and you can start trading.
5. Download the Trading Platform
Choose a Platform: Exness provides access to two of the most popular trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are available for download on Windows, Mac, and mobile devices (iOS and Android).
Install the Platform: After downloading the platform of your choice, install it on your device and log in using your Exness Cent Account credentials.
6. Start Trading
Log In to Your Account: Once you’ve set up your trading platform, log in with the username and password provided when you opened your account.
Fund Your Trading Account: If you haven’t already deposited funds, you can do so at any time through your platform. Ensure your balance is sufficient to open trades with micro-lots.
Begin Trading: With the Cent Account, you can start trading small positions with micro-lots, testing strategies, and learning in real market conditions. You can also access Exness’ various educational resources to help you improve your trading skills.
Conclusion
The Exness Cent Account is an excellent choice for beginner traders or those who wish to practice trading in real market conditions without risking significant amounts of capital. With its low minimum deposit requirement, micro-lot trading, and the ability to trade with high leverage, the Cent Account offers a low-risk, cost-effective entry point into the world of forex and CFD trading. It allows traders to gain practical experience, test strategies, and build confidence in live market conditions while managing their exposure to risk.
Opening an Exness Cent Account is a straightforward process, from registration to depositing funds and starting trading. The process is designed to be beginner-friendly, with easy access to powerful trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Whether you’re new to trading or looking for a safe way to refine your skills, the Exness Cent Account provides the tools and resources you need to succeed. It’s a great option for anyone looking to start trading with minimal capital, gain valuable experience, and eventually move on to more advanced trading strategies and account types.
FAQ
What is an Exness Cent Account?
An Exness Cent Account is a type of trading account designed for beginner traders, where the balance and trade sizes are denominated in cents instead of dollars. It allows you to trade with smaller position sizes and minimal risk, making it ideal for testing strategies and learning in real market conditions.
How much do I need to deposit to open an Exness Cent Account?
The minimum deposit required to open an Exness Cent Account is just $1 (100 cents), making it accessible for traders with a limited budget who want to start trading in real market conditions.
What platforms can I use with my Exness Cent Account?
Exness Cent Account holders have access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular and powerful trading platforms in the industry. Both platforms are available for Windows, Mac, and mobile devices.
What leverage is available on an Exness Cent Account?
Exness offers high leverage on Cent Accounts, with leverage options up to 1:2000, depending on the asset being traded. This allows you to control larger positions with a smaller margin, but it should be used carefully to manage risk.
Can I upgrade my Exness Cent Account to a Standard Account?
Yes, you can easily upgrade from a Cent Account to a Standard or other account types as you gain experience and are ready to trade with larger position sizes and higher risk exposure. The process is simple and can be done through your Exness account dashboard.
Are there any commissions on trades in the Exness Cent Account?
Exness offers zero commission on certain trading instruments for Cent Account holders. However, there may be spreads on some currency pairs and assets. Always check the specific asset details to understand the costs involved in your trades.
