10 minute read
What is the difference between standard and standard cent account in Exness?
from Exness
by Exness_Blog
When venturing into the world of forex trading, choosing the right account type is one of the most critical decisions for both novice and experienced traders. Exness, a globally recognized forex and CFD broker established in 2008, offers a variety of account types tailored to different trading needs. Among these, the Standard Account and the Standard Cent Account are two popular options, particularly for beginners and those looking to minimize risk. While both accounts fall under the "Standard" category, they cater to distinct trading styles and experience levels. In this comprehensive guide, we’ll explore the key differences between these two account types, their features, benefits, drawbacks, and how to choose the one that suits your trading goals.
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Overview of Exness Standard and Standard Cent Accounts
Exness is known for its user-friendly platforms, competitive trading conditions, and diverse account offerings. The Standard and Standard Cent accounts are designed to be accessible, making them ideal for traders at various stages of their journey. However, their differences lie in aspects such as lot sizes, trading volumes, available instruments, and risk levels. Let’s break down each account type to understand their unique characteristics.
1. What Is the Exness Standard Account?
The Exness Standard Account is the broker’s most versatile and widely used account type, suitable for traders of all experience levels. It offers a balanced mix of simplicity, affordability, and access to a wide range of trading instruments. With no commission fees and competitive spreads, it’s an attractive option for those looking to trade forex, metals, cryptocurrencies, energies, stocks, and indices.
Key Features of the Standard Account:
Minimum Deposit: As low as $1 (varies by payment method and region).
Lot Size: Standard lots (1 lot = 100,000 units of the base currency).
Spreads: Starting from 0.3 pips.
Leverage: Up to 1:2000 (subject to regional regulations).
Trading Instruments: Access to forex, metals, cryptocurrencies, energies, stocks, and indices.
Execution Type: Market execution (no requotes).
Maximum Open Orders: Unlimited.
Maximum Pending Orders: 100.
Trading Platforms: Available on MetaTrader 4 (MT4), MetaTrader 5 (MT5), and Exness Terminal.
Commission: None, costs are covered by spreads.
The Standard Account is ideal for traders who want flexibility, access to a broad range of instruments, and the ability to trade larger volumes without the restrictions of micro-trading. It’s a great choice for those transitioning from demo accounts or smaller accounts like the Standard Cent.
2. What Is the Exness Standard Cent Account?
The Standard Cent Account is specifically designed for beginners or traders looking to test strategies with minimal financial risk. Unlike other account types, it uses cent lots, where the account balance is displayed in cents rather than dollars. For example, a $10 deposit appears as 1,000 cents, allowing traders to execute micro-trades with significantly lower risk. This account is only available on the MT4 platform and is limited to forex and metals trading.
Key Features of the Standard Cent Account:
Minimum Deposit: As low as $1 (varies by payment method and region).
Lot Size: Cent lots (1 cent lot = 1,000 units of the base currency, equivalent to $1,000).
Spreads: Starting from 0.3 pips.
Leverage: Up to 1:2000 (1:400 for clients registered with the Kenyan entity).
Trading Instruments: Limited to forex pairs and metals (e.g., XAU/USD).
Execution Type: Market execution (no requotes).
Maximum Open Orders: 1,000 on MT4, unlimited on MT5.
Maximum Pending Orders: 50 on MT4, 200 on MT5.
Trading Platforms: Available only on MT4.
Commission: None, costs are covered by spreads.
Demo Account: Not available.
The Standard Cent Account is tailored for novice traders who want to experience real-market conditions with minimal financial exposure or for experienced traders testing new strategies.
Key Differences Between Standard and Standard Cent Accounts
To help you make an informed decision, here’s a detailed comparison of the Standard and Standard Cent accounts based on critical factors:
1. Lot Size and Trading Volume
Standard Account: Uses standard lots, where 1 lot equals 100,000 units of the base currency. The minimum trading volume is 0.01 lots (1,000 units), and the maximum is 20 lots from 21:00 to 6:59 GMT+0 and 200 lots from 7:00 to 20:59 GMT+0.
Standard Cent Account: Uses cent lots, where 1 cent lot equals 1,000 units of the base currency (100,000 cents or $1,000). The minimum trading volume is 0.01 cent lots (1,000 cents or $10), and the maximum is 200 cent lots.
Impact: The Standard Cent Account allows traders to execute much smaller trades, reducing financial risk. For example, a 10-pip loss on a 1-cent lot of EUR/USD costs $0.10, compared to $10 on a standard lot. This makes the Cent Account ideal for beginners or strategy testing, while the Standard Account suits traders ready to handle larger volumes and higher risks.
2. Available Trading Instruments
Standard Account: Offers access to a wide range of instruments, including forex, metals, cryptocurrencies, energies, stocks, and indices.
Standard Cent Account: Limited to forex pairs and metals (e.g., XAU/USD), with up to 37 instruments available.
Impact: The Standard Account provides greater flexibility for traders interested in diversifying their portfolios across multiple asset classes. The Cent Account’s limited instrument range makes it more suitable for focused forex and metals trading, particularly for beginners.
3. Order Limits
Standard Account: Supports unlimited open market orders and up to 100 pending orders.
Standard Cent Account: Caps open market orders at 1,000 on MT4 (unlimited on MT5) and pending orders at 50 on MT4 (200 on MT5).
Impact: The Standard Account offers greater flexibility for traders managing multiple positions, making it suitable for scalpers or those with complex strategies. The Cent Account’s restrictions are less limiting for beginners but may constrain advanced traders.
4. Trading Platforms
Standard Account: Available on MT4, MT5, and Exness Terminal, offering a modern and versatile trading experience.
Standard Cent Account: Limited to MT4, which may feel restrictive for traders preferring MT5 or the Exness Terminal’s advanced features.
Impact: The Standard Account’s multi-platform support caters to traders who value flexibility and advanced tools. The Cent Account’s MT4 exclusivity is sufficient for beginners but may not suit those seeking cutting-edge platforms.
5. Risk and Accessibility
Standard Account: With a minimum deposit of $1, it’s accessible, but the larger lot sizes increase risk, making it better suited for traders with some experience.
Standard Cent Account: The cent-based balance and micro-lot trading significantly reduce risk, making it ideal for beginners or those with limited capital. For example, a $10 deposit becomes 1,000 cents, allowing multiple small trades.
Impact: The Cent Account is a safer entry point for new traders, while the Standard Account is better for those ready to scale up their trading.
6. Demo Account Availability
Standard Account: Offers demo accounts for practice without risking real money.
Standard Cent Account: Does not offer demo accounts, as it’s designed for real-money trading with low risk.
Impact: Beginners who want risk-free practice may prefer starting with a Standard Account demo before moving to a live Cent Account.
7. Spreads and Costs
Standard Account: Spreads start from 0.3 pips, with no commission fees.
Standard Cent Account: Spreads start from 0.3 pips (some sources report 0.8 pips for EUR/USD), with no commission fees.
Impact: Both accounts offer competitive, commission-free trading, but the Standard Account’s broader instrument range may provide tighter spreads on certain assets due to higher liquidity.
8. Leverage
Standard Account: Up to 1:2000 (1:400 for Kenyan clients).
Standard Cent Account: Up to 1:2000 (1:400 for Kenyan clients; some sources mention 1:unlimited in specific conditions).
Impact: High leverage amplifies both profits and losses. The Cent Account’s micro-lot sizes make high leverage less risky, while the Standard Account requires careful risk management due to larger trade sizes.
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Pros and Cons of Each Account Type
Standard Account
Pros:
Access to a wide range of trading instruments.
Unlimited open orders for flexible trading.
Available on multiple platforms (MT4, MT5, Exness Terminal).
Low minimum deposit ($1, depending on payment method).
Suitable for traders of all experience levels.
Cons:
Larger lot sizes increase financial risk.
Not ideal for testing strategies with minimal capital.
Higher potential losses compared to micro-trading accounts.
Standard Cent Account
Pros:
Micro-lot trading reduces financial risk, ideal for beginners.
Low minimum deposit ($1, depending on payment method).
Commission-free with competitive spreads.
Real-market experience with minimal capital.
High leverage (up to 1:2000) for small accounts.
Cons:
Limited to forex and metals trading.
Only available on MT4.
Capped order limits (1,000 open, 50 pending on MT4).
No demo account option.
Smaller profit potential due to micro-lot sizes.
Who Should Choose Each Account?
Choose the Standard Account If:
You have some trading experience and want to scale up your trades.
You want access to a diverse range of instruments (e.g., stocks, cryptocurrencies, indices).
You prefer trading on multiple platforms (MT4, MT5, Exness Terminal).
You’re comfortable with standard lot sizes and higher risk for potentially higher returns.
You want the option to practice with a demo account before going live.
Choose the Standard Cent Account If:
You’re a beginner looking to trade with real money but minimal risk.
You want to test trading strategies without risking significant capital.
You’re focused on forex and metals trading.
You have limited capital (e.g., $10–$100).
You prefer a straightforward, low-risk entry into live trading.
Practical Examples
Example 1: Beginner Trader with $10
An Indian trader deposits $10 into a Standard Cent Account, which appears as 1,000 cents. They trade 1 cent lot of EUR/USD, where a 10-pip move results in a $0.10 profit or loss. This allows them to open multiple small positions, learn risk management, and gain real-market experience without significant financial exposure. In contrast, trading 0.01 standard lots on a Standard Account would result in a $10 loss for the same 10-pip move, which could deplete their account quickly.
Example 2: Experienced Trader with $500
An experienced trader deposits $500 into a Standard Account to trade forex, stocks, and cryptocurrencies. They use 0.1 standard lots, allowing for larger profits (e.g., a 20-pip gain on EUR/USD yields $20). The unlimited open orders and multi-platform support enable complex strategies like scalping or swing trading. A Standard Cent Account would limit their instrument choices and profit potential due to smaller lot sizes.
How to Choose the Right Account for You
When deciding between the Standard and Standard Cent accounts, consider the following factors:
Experience Level: Beginners should start with the Standard Cent Account to minimize risk while learning. Intermediate or advanced traders can opt for the Standard Account for greater flexibility.
Capital: If you have limited funds ($1–$100), the Cent Account is more practical. For larger deposits ($100+), the Standard Account offers better scalability.
Trading Goals: If you aim to diversify across asset classes, choose the Standard Account. If you’re focused on forex and metals, the Cent Account suffices.
Risk Tolerance: The Cent Account is better for risk-averse traders, while the Standard Account suits those comfortable with higher exposure.
Strategy Testing: The Cent Account is ideal for testing new strategies with real money, while the Standard Account’s demo option is better for risk-free practice.
How to Open an Exness Standard or Standard Cent Account
Opening either account with Exness is straightforward:
Register: Sign up on the Exness website and complete the verification process.
Choose Account Type: In the Personal Area, select either Standard or Standard Cent.
Deposit Funds: Use one of Exness’s 15+ payment methods (e.g., bank cards, e-wallets, cryptocurrencies). Deposits are typically instant.
Download Platform: For Standard Accounts, choose MT4, MT5, or Exness Terminal. For Standard Cent, download MT4.
Start Trading: Configure your platform, set leverage, and begin trading.
Conclusion
The Exness Standard and Standard Cent accounts cater to different trader profiles, offering unique benefits depending on your experience, capital, and goals. The Standard Account is a versatile option for traders seeking flexibility, a wide range of instruments, and higher trading volumes, making it ideal for those with some experience or larger capital. The Standard Cent Account, with its micro-lot trading and low-risk environment, is perfect for beginners or those testing strategies with minimal investment. By understanding their differences—lot sizes, instrument availability, order limits, and platform support—you can choose the account that aligns with your trading journey.
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