9 minute read
How Much Does Exness Charge Per Lot?
from Exness
by Exness_Blog
When choosing a forex broker, one of the most critical factors to consider is the cost of trading. Among the top brokers in the industry, Exness stands out for its competitive fee structure, transparency, and variety of account types tailored to different trading styles. A common question among traders is, “How much does Exness charge per lot?” This article dives deep into Exness’s fee structure, focusing on commissions per lot, spreads, and other associated costs. We’ll break down the details for each account type, compare Exness’s fees with industry standards, and provide tips to optimize your trading costs. By the end, you’ll have a clear understanding of what to expect when trading with Exness.
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Understanding Trading Costs in Forex
Before delving into Exness’s specific charges, it’s essential to understand the components of trading costs in forex. These typically include:
Spreads: The difference between the bid (sell) and ask (buy) prices of a currency pair. Spreads can be fixed or variable, depending on the account type and market conditions.
Commissions: A fixed fee charged per lot traded, typically applied to accounts with lower spreads.
Swap Fees: Also known as overnight or rollover fees, these are charged for holding positions overnight based on the interest rate differential between the two currencies in a pair.
Other Fees: These may include deposit/withdrawal fees, inactivity fees, or currency conversion fees.
Exness is known for its transparent pricing, offering a range of account types to suit beginners, intermediate traders, and professionals. The cost per lot varies depending on the account type and the financial instrument traded. Let’s explore Exness’s account types and their associated fees.
Exness Account Types and Fees Per Lot
Exness offers several account types, each designed for specific trading needs. Below, we break down the commission structure and spreads for each account, focusing on the cost per lot.
1. Standard Account
The Standard Account is ideal for beginners and casual traders due to its simplicity and low entry barriers. Key features include:
Commission: No commission is charged. Trading costs are incorporated into the spread.
Spreads: Variable spreads starting from 0.3 pips for major currency pairs like EUR/USD. The average spread for EUR/USD is around 1.0 pip, translating to approximately $10 per standard lot (100,000 units).
Minimum Deposit: No minimum deposit requirement, making it accessible for new traders.
Swap Fees: Swap fees apply for positions held overnight but are competitive. Exness also offers swap-free accounts for traders who require them, such as those adhering to Islamic principles.
Cost Example: If you trade 1 lot of EUR/USD with a 1.0-pip spread, the cost is roughly $10 (1 pip x $10 per pip for a standard lot). Since there’s no commission, this is the total cost per trade, excluding swap fees for overnight positions.
2. Standard Cent Account
The Standard Cent Account is designed for beginners who want to trade smaller volumes with minimal risk. It uses cent lots (1 lot = 1,000 units).
Commission: No commission, similar to the Standard Account.
Spreads: Variable spreads starting from 0.3 pips, though they are typically higher than the Standard Account (around 1.0–1.5 pips for EUR/USD).
Minimum Deposit: No minimum deposit requirement.
Swap Fees: Swap fees apply, but traders can opt for swap-free accounts.
Cost Example: Trading 1 cent lot (1,000 units) of EUR/USD with a 1.0-pip spread costs approximately $0.10, making it ideal for testing strategies with minimal financial risk.
3. Pro Account
The Pro Account is tailored for experienced traders who prioritize low spreads and fast execution. It’s suitable for scalping and high-frequency trading.
Commission: No commission is charged, making it cost-effective for active traders.
Spreads: Variable spreads starting from 0.1 pips for major pairs. The average spread for EUR/USD is around 0.6 pips, equating to $6 per standard lot.
Minimum Deposit: $200 (varies by region).
Swap Fees: Competitive swap fees, with swap-free options available.
Cost Example: For 1 lot of EUR/USD with a 0.6-pip spread, the cost is approximately $6 per trade, excluding swap fees.
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4. Raw Spread Account
The Raw Spread Account is designed for traders who want ultra-tight spreads and are willing to pay a commission for better pricing.
Commission: A fixed commission of $3.50 per lot per side ($7 per round lot) for major currency pairs like EUR/USD.
Spreads: Ultra-low spreads starting from 0.0 pips, with an average of 0.1–0.3 pips for EUR/USD.
Minimum Deposit: $500 (varies by region).
Swap Fees: Swap fees apply, but swap-free accounts are available.
Cost Example: Trading 1 lot of EUR/USD with a 0.1-pip spread and a $7 commission per round lot results in a total cost of $8 ($1 for the spread + $7 commission).
5. Zero Account
The Zero Account offers zero spreads on major instruments for 95% of the trading day, making it ideal for high-frequency traders and scalpers.
Commission: Starts at $0.05 per lot per side ($0.10 per round lot) for major pairs, but can go up to $3.50 per lot per side depending on the instrument and trading volume.
Spreads: Fixed at 0.0 pips for major pairs during most trading hours.
Minimum Deposit: $500 (varies by region).
Swap Fees: Swap fees apply, with swap-free options available.
Cost Example: Trading 1 lot of EUR/USD with a 0.0-pip spread and a $0.10 commission per round lot costs just $0.10 per trade, though commissions for other instruments may be higher.
Comparing Exness Fees with Industry Standards
Exness’s fees are highly competitive compared to other leading brokers. For example:
Standard Accounts: Exness’s average spread of 1.0 pip for EUR/USD on the Standard Account is in line with industry averages (1.0–1.5 pips for commission-free accounts).
Raw Spread and Zero Accounts: The $3.50–$7 per round lot commission on Raw Spread and Zero Accounts is lower than many competitors, who may charge $8–$10 per lot for similar low-spread accounts.
Swap Fees: Exness’s swap-free accounts for Islamic traders and competitive swap rates for other accounts make it attractive for long-term traders.
Non-Trading Fees: Exness does not charge deposit or withdrawal fees, though third-party payment providers may apply charges. This is a significant advantage over brokers that impose internal withdrawal fees.
According to industry reviews, Exness’s fee structure is particularly appealing for high-volume traders due to its low commissions and tight spreads on professional accounts.
Other Fees to Consider
While the cost per lot is a primary concern, traders should also be aware of other potential fees:
Swap Fees: These vary depending on the currency pair, position size, and interest rate differential. For example, holding 1 lot of EUR/USD overnight might incur a swap fee of -0.50 pips (approximately $5 for a long position held for one night). Traders can check swap rates on Exness’s MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms.
Inactivity Fees: Exness may charge a small inactivity fee after 6 months of no trading activity, but this can be avoided by keeping the account active.
Currency Conversion Fees: If your account’s base currency differs from the traded asset’s currency, Exness applies a conversion fee based on market rates.
Margin Calls and Stop-Outs: Exness does not charge fees for margin calls or stop-outs, but traders should be cautious of potential losses if positions are automatically closed due to insufficient margin.
Tips to Minimize Trading Costs with Exness
To optimize your trading costs with Exness, consider the following strategies:
Choose the Right Account Type: Select an account that aligns with your trading style. For example, the Standard Account is ideal for beginners, while the Raw Spread or Zero Account suits high-frequency traders.
Trade During High Liquidity: Spreads are typically tighter during high-liquidity periods, such as the London and New York trading sessions.
Use Swap-Free Accounts: If you hold positions overnight, consider a swap-free account to eliminate rollover fees.
Leverage Rebates: Partner with rebate providers like Traders Union to earn cashback on spreads or commissions. For example, trading 1 lot of EUR/USD with a $3.50 commission could be reduced to $2.50 with a $1 rebate.
Monitor Market Volatility: Spreads can widen during volatile periods, so avoid trading during major economic news releases unless you have a strategy to capitalize on them.
Consolidate Deposits: To minimize currency conversion or third-party fees, deposit larger amounts less frequently.
Why Choose Exness?
Exness stands out for its commitment to transparency and competitive pricing. Here are some reasons traders choose Exness:
Regulation: Exness is regulated by multiple authorities, including the FCA (UK), CySEC (Cyprus), and FSCA (South Africa), ensuring a secure trading environment.
Fast Execution: Exness uses ECN and STP technology for fast order execution, which is critical for scalpers and day traders.
Wide Range of Instruments: With over 100 forex pairs, cryptocurrencies, commodities, and indices, Exness caters to diverse trading strategies.
No Deposit/Withdrawal Fees: Exness covers most transaction fees, making it cost-effective for funding and withdrawing funds.
User-Friendly Platforms: Exness supports MT4, MT5, and its proprietary Exness Terminal, offering flexibility for traders.
Potential Drawbacks
While Exness offers competitive fees, there are a few considerations:
Limited Educational Resources: Exness’s educational content is less comprehensive than some competitors, which may be a drawback for beginners.
High Leverage Risks: Exness offers unlimited leverage on some accounts, which can lead to significant losses if not managed properly.
Withdrawal Issues: Some traders have reported difficulties with withdrawals due to strict verification requirements, though this is often to prevent fraud.
Conclusion
Exness offers a competitive and transparent fee structure, with costs per lot varying by account type. The Standard and Standard Cent Accounts are commission-free, with spreads starting at 0.3 pips, while the Pro, Raw Spread, and Zero Accounts cater to experienced traders with lower spreads and commissions ranging from $0.10 to $7 per round lot. Additional costs like swap fees, inactivity fees, and currency conversion fees may apply, but Exness’s overall pricing is among the most competitive in the industry.
By choosing the right account type, trading during optimal market conditions, and leveraging tools like rebates, traders can minimize costs and maximize profitability. Whether you’re a beginner or a seasoned trader, Exness provides a cost-effective and reliable platform to suit your needs. For the latest fee details, always check Exness’s official website or contact their customer support.
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