10 minute read
Which Exness Account is Best for Beginners? A Comprehensive Review
from Exness
by Exness_Blog
If you’re new to forex trading and considering Exness as your broker, you’re likely wondering, “Which Exness account is best for beginners?” With several account types available, each offering unique features, it can be overwhelming to choose the right one. This guide will break down Exness’ account offerings, compare their features, and help you decide which account aligns best with your needs as a beginner. By the end, you’ll have a clear understanding of the best Exness account to kickstart your trading journey.
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Introduction to Exness: Why It’s a Popular Choice for Beginners
Exness is a globally recognized forex and CFD broker, known for its low spreads, fast execution, and user-friendly platform. Since its founding in 2008, Exness has grown to serve over 1 million traders worldwide, earning a reputation for reliability and transparency. For beginners, Exness stands out due to its low minimum deposits, flexible leverage options, and a variety of account types tailored to different trading experience levels.
In this article, we’ll explore the following Exness account types: Standard Cent, Standard, Pro, Raw Spread, and Zero. We’ll evaluate their features, pros, and cons, focusing on which is most suitable for those just starting in forex trading. Let’s dive in!
Understanding Exness Account Types
Exness offers five main account types, each designed to cater to specific trading needs. Below, we’ll outline the key features of each account, with a focus on their suitability for beginners.
1. Standard Cent Account
· Minimum Deposit: $1 (varies by region)
· Spread: From 0.3 pips
· Leverage: Up to 1:2000 (MT5) or unlimited (MT4)
· Commission: None
· Trading Instruments: Forex, metals
· Lot Size: Cent lots (1 lot = 100,000 units of the base currency)
· Best For: Beginners and low-risk traders
The Standard Cent Account is specifically designed for new traders. It allows you to trade in cent lots, meaning you can open smaller positions with significantly lower financial risk. For example, a standard lot in forex is 100,000 units of the base currency, but a cent lot is just 1,000 units. This makes it easier to practice trading without risking large sums of money.
Why it’s great for beginners:
· Low risk: The small lot sizes allow you to trade with minimal capital.
· Real trading experience: Unlike a demo account, the Standard Cent Account lets you experience real market conditions, including spreads and slippage.
· Affordable entry: With a minimum deposit as low as $1, it’s accessible for those with limited funds.
Drawbacks:
· Limited to forex and metals, so you can’t trade other instruments like cryptocurrencies or indices.
· Not ideal for advanced strategies requiring high liquidity or tight spreads.
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2. Standard Account
· Minimum Deposit: $1 (varies by region)
· Spread: From 0.2 pips
· Leverage: Up to 1:2000 (MT5) or unlimited (MT4)
· Commission: None
· Trading Instruments: Forex, metals, cryptocurrencies, indices, energies, stocks
· Lot Size: Standard lots
· Best For: Beginners and intermediate traders
The Standard Account is the most popular Exness account, used by approximately 80% of its traders. It offers a balance of low costs, a wide range of trading instruments, and flexibility for various trading styles.
Why it’s great for beginners:
· Versatility: Access to a broad range of instruments allows you to experiment with different markets.
· No commission: This reduces trading costs, which is crucial for beginners managing small budgets.
· Low spreads: Starting from 0.2 pips for major currency pairs, it’s cost-effective for frequent trading.
Drawbacks:
· Higher risk compared to the Standard Cent Account due to standard lot sizes.
· Beginners may find the wide range of instruments overwhelming without proper education.
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3. Pro Account
· Minimum Deposit: $200 (varies by region)
· Spread: From 0.1 pips
· Leverage: Up to 1:2000 (MT5) or unlimited (MT4)
· Commission: None
· Trading Instruments: Forex, metals, cryptocurrencies, indices, energies, stocks
· Lot Size: Standard lots
· Best For: Experienced traders or professionals
The Pro Account is designed for traders with some experience who want tighter spreads and advanced trading conditions. Its low spreads and high leverage make it appealing for scalping and high-frequency trading.
Why it’s less suitable for beginners:
· Higher minimum deposit: The $200 entry point may be a barrier for new traders with limited capital.
· Complex strategies: The account is optimized for advanced trading styles, which may overwhelm beginners.
· Risk management: Unlimited leverage can lead to significant losses if not managed carefully.
4. Raw Spread Account
· Minimum Deposit: $200 (varies by region)
· Spread: From 0.0 pips
· Leverage: Up to 1:2000 (MT5) or unlimited (MT4)
· Commission: Up to $7 per lot
· Trading Instruments: Forex, metals, cryptocurrencies, indices, energies, stocks
· Lot Size: Standard lots
· Best For: Scalpers and high-volume traders
The Raw Spread Account offers near-zero spreads but charges a commission per trade. It’s designed for traders who prioritize low spreads and are comfortable with commission-based pricing.
Why it’s less suitable for beginners:
· Commissions: The added cost per trade can eat into profits, especially for small accounts.
· Higher minimum deposit: $200 may be too steep for beginners.
· Complexity: Managing commissions and tight spreads requires experience in cost-benefit analysis.
1️⃣ Open Exness Raw Spread Account
5. Zero Account
· Minimum Deposit: $200 (varies by region)
· Spread: From 0.0 pips (on select instruments)
· Leverage: Up to 1:2000 (MT5) or unlimited (MT4)
· Commission: From $0.1 per lot
· Trading Instruments: Forex, metals, cryptocurrencies, indices, energies, stocks
· Lot Size: Standard lots
· Best For: Professional traders and scalpers
The Zero Account is an ECN (Electronic Communication Network) account with ultra-low spreads and variable commissions. It’s tailored for high-volume traders who need the tightest spreads possible.
Why it’s less suitable for beginners:
· High minimum deposit: The $200 requirement is a significant barrier.
· Commission structure: Variable commissions can be confusing for new traders.
· Advanced platform: ECN trading requires a deeper understanding of market dynamics.
Which Exness Account is Best for Beginners?
After reviewing the account types, the Standard Cent Account and Standard Account are the most beginner-friendly options. Here’s a detailed comparison to help you choose:
Standard Cent Account vs. Standard Account: Key Differences
Why the Standard Cent Account is the Best Choice for Absolute Beginners
The Standard Cent Account is the clear winner for those new to forex trading. Here’s why:
· Low financial risk: Trading in cent lots means you can open positions with minimal capital, reducing the risk of significant losses.
· Real market exposure: Unlike demo accounts, you’ll experience real spreads, price volatility, and slippage, preparing you for larger accounts.
· Affordable entry: A $1 minimum deposit makes it accessible to anyone, regardless of budget.
· Simplicity: With only forex and metals available, beginners can focus on learning the basics without being overwhelmed by too many options.
When to Choose the Standard Account
The Standard Account is ideal for beginners who have some trading knowledge or are ready to transition from a demo or cent account. It’s a great choice if:
· You want to trade a wider range of instruments, such as cryptocurrencies or indices.
· You’re comfortable with standard lot sizes and can manage the associated risks.
· You plan to scale your trading activities and want a versatile account for long-term use.
Tips for Choosing the Right Exness Account as a Beginner
Selecting the right account depends on your goals, budget, and trading experience. Here are some tips to guide your decision:
· Start Small: If you’re new to forex, begin with the Standard Cent Account to minimize risk while learning the ropes.
· Practice Risk Management: High leverage (up to 1:2000 or unlimited) can amplify both profits and losses. Use stop-loss orders and trade small positions to protect your capital.
· Use a Demo Account First: Exness offers demo accounts for all account types. Practice with a demo to familiarize yourself with the platform before committing real funds.
· Consider Your Budget: If you have less than $200, the Standard Cent or Standard Account is more accessible due to their low minimum deposits.
· Learn the Platform: Exness supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both beginner-friendly platforms. Spend time learning their features to maximize your trading efficiency.
· Focus on Education: Exness provides educational resources, webinars, and market analysis. Take advantage of these to build your trading knowledge.
How to Open an Exness Account as a Beginner
Opening an Exness account is straightforward and takes just a few minutes. Follow these steps:
· Visit the Exness Website: Go to exness.com and click “Register.”
· Complete the Registration Form: Provide your email, phone number, and personal details.
· Verify Your Identity: Upload identification documents (e.g., passport or ID) to comply with regulatory requirements.
· Choose Your Account Type: Select either the Standard Cent or Standard Account based on your needs.
· Deposit Funds: Use one of Exness’ secure payment methods, such as bank cards, e-wallets, or cryptocurrencies.
· Download the Trading Platform: Install MT4 or MT5 on your device and log in with your account credentials.
· Start Trading: Begin with small trades and use Exness’ educational resources to guide your strategy.
Common Mistakes Beginners Make When Choosing an Exness Account
Avoid these pitfalls to ensure a smooth trading experience:
· Choosing an Advanced Account Too Soon: Accounts like Pro, Raw Spread, or Zero are complex and costly for beginners. Stick to Standard Cent or Standard until you gain experience.
· Ignoring Risk Management: High leverage can lead to significant losses. Always set stop-loss orders and avoid overtrading.
· Not Using a Demo Account: Practice with a demo account to test strategies without risking real money.
· Overlooking Fees: While Standard Cent and Standard Accounts have no commissions, spreads can still impact profitability. Monitor your trading costs closely.
Conclusion: Start Your Trading Journey with Confidence
Choosing the right Exness account as a beginner is a critical step toward building a successful trading career. The Standard Cent Account is the best choice for absolute beginners due to its low risk, affordable entry, and real-market experience. For those with some trading knowledge or a desire for more flexibility, the Standard Account offers a versatile and cost-effective option.
Whichever account you choose, prioritize education, practice with a demo account, and implement strong risk management strategies. Exness’ user-friendly platform, low spreads, and robust support make it an excellent choice for new traders.
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FAQs
· What is the minimum deposit for Exness accounts?The Standard Cent and Standard Accounts require as little as $1, while Pro, Raw Spread, and Zero Accounts require $200 (varies by region).
· Can I switch Exness account types later?Yes, you can open multiple accounts under the same Exness profile and switch between them as your skills and needs evolve.
· Is Exness safe for beginners?Exness is a regulated broker with a strong reputation for security, offering segregated client funds and negative balance protection.
· Which platform is better for beginners: MT4 or MT5?Both are beginner-friendly, but MT5 offers more advanced features and additional trading instruments, making it a great choice for long-term growth.
· How can I practice trading without risking money?Exness offers demo accounts for all account types, allowing you to practice with virtual funds in real market conditions.
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