Exness account types
Exness group was established in 2008 and since then has managed to attract a loyal customer base from all over the world. The broker offers currency pairs, metals, energies, indices, and CFDs (Contracts for Different) on cryptocurrencies and company shares for trading. Exness is well regulated in multiple jurisdictions, including the British Virgin Islands, Curaçao, Cyprus, Kenya, Mauritius, Seychelles, and UK. Which means that Exness is a trustworthy broker.
Exness aims to meet the needs of all trader types, and offers 5 dedicated live accounts. In addition, demo and swap-free, also known as Islamic account types, are also available. Let’s learn more about each account and see which one may be the best fit for you.
Exness Standard accounts
The Exness Standard account types charge no commissions. Trading fees are integrated in spreads, and for Standard account users start from 0.2 pips on EUR/USD. For Standard Cent accounts, spreads start from 0.3 pips. This simply means that the 0.2 spread markup is automatically added as a fee to your trade. In a live market environment, spreads can be higher depending on liquidity and market conditions.
The Standard account is perfect for beginner traders, swing traders, and position traders. As these trader types generally place much fewer trades than for instance day traders and as a result prefer the lowest possible commissions.
The Standard Cent account is best for traders who wish to test their trading strategies in a live trading environment with the lowest possible capital at risk.
| Account name | Standard | Standard Cent |
|---|---|---|
| Minimum initial deposit required to open a live account | No set amount. The deposit amount depends on a payment system | No set amount. The deposit amount depends on a payment system |
| Spreads on major currency pairs start | From 0.2 pips | From 0.3 pips |
| Commissions | No commission | No commission |
| Maximum available leverage | 1:Unlimited | 1:Unlimited |
| Available instruments for trading | Forex, metals, cryptocurrencies, energies, stocks, indices | Forex, metals |
| Minimum lot size | 0.01 | 0.01 |
| Maximum lot size | 200 (7:00–20:59 GMT+0), 60 (21:00–6:59 GMT+0) | 200 |
| Maximum number of positions | Unlimited | 1000 |
| Hedged margin | 0% | 0% |
| Margin call | 60% | 60% |
| Stop out | 0% | 0% |
| Order execution model | Market execution | Market execution |
| Swap-free (Islamic) version of the account | Available | Available |
Exness Professional accounts
The professional accounts are designed for active traders that place orders intraday. Professional accounts charge traders with super tight or zero spreads.
The best account types for day trading, scalping, high frequency trading, arbitrage trading, and news trading are Zero and Raw Spread account types. As the name suggests, these accounts charge zero spreads on EUR/USD. Instead, trading fees are charged in the form of commissions. You will need at least 200 US Dollars, or equivalent in an account base currency, to open professional trading accounts. For more details, let’s take a look at the account comparison table below:
| Account name | Pro | Zero | Raw Spread |
|---|---|---|---|
| Minimum initial deposit required to open a live account | 200 US Dollars | 200 US Dollars | 200 US Dollars |
| Spreads on major currency pairs start | From 0.1 pips | From 0 pips | From 0 pips |
| Commissions | No commission | From $0.05 each side per lot | Up to $3.50 each side per lot |
| Maximum available leverage | 1:Unlimited | 1:Unlimited | 1:Unlimited |
| Available instruments for trading | Forex, metals, cryptocurrencies, energies, stocks, indices | Forex, metals, cryptocurrencies, energies, stocks, indices | Forex, metals, cryptocurrencies, energies, stocks, indices |
| Minimum lot size | 0.01 | 0.01 | 0.01 |
| Maximum lot size | 200 (7:00–20:59 GMT+0), 60 (21:00–6:59 GMT+0) | 200 (7:00–20:59 GMT+0), 60 (21:00–6:59 GMT+0) | 200 (7:00–20:59 GMT+0), 60 (21:00–6:59 GMT+0) |
| Maximum number of positions that traders are allowed to open simultaneously | Unlimited | Unlimited | Unlimited |
| Hedged margin | 0% | 0% | 0% |
| Margin call | 30% | 30% | 30% |
| Stop out level | 0% | 0% | 0% |
| Order execution model | Instant (forex, metals, energies, stocks, indices), market (cryptocurrencies) | Market execution | Market execution |
| Swap-free (Islamic) version of the account | Available | Available | Available |
Unlimited leverage at Exness
Exness offers unlimited leverage to its international traders. However, if you are registering from Europe or the UK, your leverage will be limited. Regulators in these jurisdictions strictly limit high leverage to protect traders from high risks. High leverage enables traders to dramatically increase their purchasing power, which increases potential returns, however, potential losses are also increased. To protect traders, European and British regulators set a limit to maximum leverage brokers are allowed to offer. Based on an asset class, leverage for retail traders ranges in these countries from 2:1 to 30:1.
In Europe and UK, maximum available leverage for Exness traders are:
- 30:1 for major currency pairs, including Euro vs US Dollar, British Pound Sterling vs US Dollar, Japanese Yen vs US Dollar, etc.
- 20:1 for non-major pairs and for CFDs (Contracts for Difference) on gold and major indices
- 10:1 for commodities, excluding gold
- 5:1 for individual equities such as CFDs on Tesla stock, Microsoft, Google, etc.
- 2:1 for cryptocurrency CFDs
As for the institutional traders, availability for high leverage is allowed. Professional traders can access up to 500:1 leverage.
How Exness account types are designed for global traders
Exness is a truly international company with multilingual customer support. The customer support team speaks in 16 languages and is available 24/7 via live chat, over the phone, and via email.
The company offers multiple account base currencies to choose from. During the registration and account opening process, traders are free to pick one of the offered currencies: AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF and ZAR.
For Standard Cent trading account holders, fewer options are available, including: USC, EUC, GBC, CHC, AUC, and CAC. These accounts are denominated in cents.
Keep in mind that by opening a live trading account in a currency that you use daily, you’ll be able to save a lot of money on currency conversions.
FAQs on Exness account types
Which account type is best for intraday trading?
The best account types for active traders such as day traders are Zero, and Raw Spread. As the accounts names suggest, spreads on both accounts start from zero pips. Trading fees are charged in the form of commissions. For Zero accounts, there are 0.05 US Dollar commissions per traded lot per side, which is very low. For Raw Spread accounts, the commissions are 3.5 US Dollars per side per traded lot.
If I plan to swing trade, which account type is best for me?
For swing traders, position traders and beginners, the best account options are Standard and Standard Cent. These accounts offer zero commissions, which is highly attractive for less active traders. Trading fees are integrated in spreads instead. For Standard account holders, spreads on Euro vs US Dollar pairs start from as little as 0.2 pips. For Standard Cent account holders, spreads start from 0.3 pips.
What are available account base currencies, and which account base currency should I choose?
Exness offers a wide range of account currencies. Trading account base currency is a currency denomination in which your trading account is held. You should pick the currency that you use the most as your account base currency to save currency conversion fees when making deposits and withdrawals to and from your account. Available account currencies are: AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF and ZAR.
By Irakli
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