7 minute read
How to Open Cent Account in Exness: A Step-by-Step Guide
from Open Account Exness
The forex market is a dynamic and exciting space, offering opportunities for traders worldwide to grow their wealth. However, for beginners, the financial risks can be daunting. That’s where the Exness Standard Cent Account comes in—a low-risk, beginner-friendly option that allows you to trade with minimal capital while gaining real-market experience. In this comprehensive guide, we’ll walk you through everything you need to know about opening a Cent Account with Exness, including eligibility criteria, benefits, step-by-step instructions, and tips to maximize your trading journey.
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Whether you’re new to forex or an experienced trader testing new strategies, this article will equip you with the knowledge to confidently start trading with an Exness Cent Account. Let’s dive in!
What is an Exness Cent Account?
A Cent Account is a type of trading account where the balance is denominated in cents rather than dollars or other major currencies. For example, if you deposit $10, your account balance will display as 1,000 USC (United States Cents). This allows traders to execute smaller trades, known as cent lots, where 1 cent lot equals 1,000 units of the base currency—100 times smaller than a standard lot. This micro-trading approach minimizes financial risk, making it ideal for beginners or those testing trading strategies.
Exness, a globally recognized forex broker founded in 2008, offers the Standard Cent Account, designed specifically for novice traders. Available exclusively on the MetaTrader 4 (MT4) platform, this account type provides a safe environment to practice trading with real money while keeping risks low. With over 1 million traders worldwide, Exness is trusted for its transparency, competitive spreads, and user-friendly platforms.
Why Choose an Exness Cent Account?
The Exness Standard Cent Account is a popular choice for several reasons:
Low Minimum Deposit: Start trading with as little as $1, making it accessible for traders with limited capital.
Micro Lot Trading: Trade in cent lots (e.g., 0.01 cent lot = 1,000 cents), reducing risk significantly. For instance, a 10-pip loss on a 1-cent lot of EUR/USD costs just $0.10, compared to $10 on a standard lot.
No Commissions: Enjoy commission-free trading with competitive spreads starting from 0.3 pips.
High Leverage: Access leverage up to 1:400 (subject to regional regulations), allowing you to control larger positions with minimal capital.
Real Market Conditions: Unlike demo accounts, the Cent Account exposes you to live market fluctuations, helping you develop practical trading skills and psychological discipline.
Wide Range of Instruments: Trade up to 37 instruments, including forex pairs, metals (e.g., XAU/USD), and select CFDs.
This account is perfect for beginners learning the ropes or experienced traders testing automated systems like Expert Advisors (EAs) with minimal financial exposure.
Eligibility Criteria for Opening an Exness Cent Account
Before you start, ensure you meet Exness’s eligibility requirements:
Age Requirement: You must be at least 18 years old to open an account.
Geographical Restrictions: Exness accepts clients from many countries, but some regions may have restrictions due to regulatory requirements. Check the Exness website to confirm eligibility for your country.
Document Verification: You’ll need to provide a government-issued ID (e.g., passport, driver’s license) and proof of address (e.g., utility bill or bank statement) to comply with regulatory standards.
Step-by-Step Guide to Opening an Exness Cent Account
Opening a Cent Account with Exness is a straightforward process that can be completed in just a few steps. Follow this guide to get started:
Step 1: Visit the Official Exness Website
Go to the official Exness website at exness.com. Ensure you’re on the legitimate site to avoid scams or phishing attempts. Look for the “Open Account” or “Sign Up” button on the homepage and click it.
Step 2: Register an Account
You’ll be directed to a registration page where you need to provide basic personal information:
Full name
Email address
Phone number
Country of residence
Ensure all details are accurate, as they will be verified later. After filling out the form, create a strong, unique password to secure your account.
Step 3: Verify Your Email
Exness will send a verification link to your registered email address. Check your inbox (and spam/junk folder) and click the link to confirm your email. This step is crucial to activate your account.
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Step 4: Log in to Your Personal Area
Once your email is verified, log in to your Exness Personal Area (PA) using your credentials. The Personal Area is your dashboard for managing accounts, deposits, withdrawals, and more.
Step 5: Select the Cent Account
In the Personal Area, navigate to the “My Accounts” section and click “Open Account.” From the dropdown menu, select the Standard Cent Account option. Note that this account is only available on MetaTrader 4 (MT4).
Step 6: Configure Account Settings
Customize your account settings:
Platform: Choose MetaTrader 4 (MT4).
Account Currency: Select your preferred currency (e.g., USC for US Cents).
Leverage: Choose leverage up to 1:400 (or unlimited in some regions, subject to regulations). Be cautious with high leverage, as it amplifies both profits and losses.
Password: Set a trading password for MT4.
Click “Create an Account” to finalize the setup. Your new Cent Account will appear in the “Real” tab of your Personal Area.
Step 7: Verify Your Identity
To comply with regulatory requirements, submit the following documents:
Identification Document: A valid passport, national ID, or driver’s license.
Proof of Address: A recent utility bill, bank statement, or official document showing your name and address.
Verification typically takes a few hours, after which your account will be fully activated.
Step 8: Fund Your Cent Account
Deposit funds to start trading. Exness offers multiple payment methods, including:
Bank transfers
Credit/debit cards
E-wallets (e.g., Skrill, Neteller)
Cryptocurrencies
The minimum deposit for the Standard Cent Account is $1, though some payment methods may require slightly higher amounts (e.g., $3 for bank cards). Check the Exness website for specific details based your region and payment method.
Step 9: Download and Set Up MetaTrader 4
Download the MetaTrader 4 platform from the Exness website or your device’s app store. Install it on your computer or mobile device, then log in using your Cent Account credentials (account number, trading password, and server details provided in your Personal Area).
Step 10: Start Trading
Once your account is funded and MT4 is set up, you’re ready to trade! Use the platform to analyze charts, place trades, and manage your positions. Start with small trades to familiarize yourself with the platform and market dynamics.
Tips for Success with Your Exness Cent Account
To make the most of your Exness Cent Account, consider these tips:
Practice with a Demo Account First: If you’re new to forex, start with an Exness demo account to learn MT4 and test strategies without risking real money.
Use Risk Management Tools: Set stop-loss and take-profit levels to protect your capital. Avoid over-leveraging, as high leverage can lead to significant losses.
Leverage Exness Educational Resources: Exness offers webinars, articles, and market analysis to enhance your trading knowledge. Take advantage of these to improve your skills.
Keep a Trading Journal: Track your trades, strategies, and outcomes to identify patterns and refine your approach.
Stay Disciplined: Trading with real money, even in cents, can be emotional. Avoid impulsive decisions and stick to your trading plan.
Test Strategies Safely: Use the Cent Account to experiment with new strategies or automated trading systems with minimal risk.
Common Questions About the Exness Cent Account
1. What is the minimum deposit for a Cent Account?
The minimum deposit is $1, but some payment methods may require slightly higher amounts. Check the Exness website for details.
2. Can I trade all instruments with a Cent Account?
The account supports 37 trading instruments, including forex pairs, metals, and select CFDs.
3. Is the Cent Account available in all countries?
No, regulatory restrictions may limit availability in certain regions. Verify eligibility on the Exness website.
4. Are there commissions on the Cent Account?
No, the Cent Account is commission-free, with spreads starting from 0.3 pips.
Conclusion
Opening a Cent Account with Exness is an excellent way for beginners to enter the forex market with minimal risk and real-world experience. With a low minimum deposit, micro lot trading, and access to a user-friendly platform like MetaTrader 4, the Standard Cent Account is a gateway to building trading skills and confidence. By following the step-by-step guide above and leveraging Exness’s educational resources, you can start your trading journey on the right foot.
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