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There are no commissions on the Standard accounts. Instead, trading fees are included in spreads. Spread markups on EUR/USD start from 0.3 pips. This simply means that the 0.3 difference is a trading fee. In a live trading environment, traders will experience wider spreads, especially during periods of low liquidity. The most liquid trading hours are during London and New York sessions. Standard accounts are not for active traders that place multiple intraday orders, such traders are called high-frequency traders, scalpers, news traders, algorithmic traders, etc. For active traders, the Raw Spread, Zero, and Pro accounts are more suitable. Because there are no commissions, these account types are ideal for beginner traders and swing traders. For traders who place orders less frequently, saving on commissions is more important than saving on spreads, making the Standard account a good option.
| Standard | Standard Cent | |
|---|---|---|
| Minimum deposit | Depends on the payment system | Depends on the payment system |
| Spread | From 0.3 pips | From 0.3 pips |
| Commission | No commission | No commission |
| Maximum leverage | 1:Unlimited | 1:Unlimited |
| Instruments | 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), 20 (21:00 - 6:59 GMT+0) | 200 |
| Maximum number of positions | Unlimited | 1000 |
| Hedged margin | 0% | 0% |
| Margin call | 60% | 60% |
| Stop out | 0% (see details about stocks) | 0% |
| Order execution | Market | Market |
| Swap-free (Islamic) | Available | Available |
It should be mentioned that the Standard account supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) while on the Standard Cent account, only MetaTrader 4 is available. MT5 is a multi-asset platform, while MT4 is mainly used for trading currencies. Consequently, you will not be offered cryptocurrencies, energies, stocks, and indices on the Standard Cent account.
A swap-free version of the Standard account is also available. Swap-free accounts are often referred to as Islamic accounts and they are designed to meet the needs of Muslim traders who wish to trade in the CFD markets without violating their religious beliefs. According to the Quran, charging and receiving interest is prohibited, and therefore brokers offer accounts that charge increased spreads or administrative fees instead of interest for keeping positions open overnight.
Both Standard and Standard Cent accounts offer unlimited leverage. Leverage is a powerful tool in CFD trading. It allows traders to open larger positions than their account balance would allow for. However, leverage can also be super dangerous if not used properly. Here are some of the problems associated with trading with high leverage:
- Increased potential losses: Leverage can amplify both gains and losses. While it can increase profits when trades are successful, it can also magnify losses when trades are going against your prediction. This means that traders can lose more money than what’s in their account balance.
- Increased risks: The higher the leverage, the greater the risks of losing capital. Traders need to be aware of the risks associated with leverage. Most beginner traders lose money because they open oversized positions and get stopped out automatically.
- Emotional trading: High leverage can lead to emotional trading, where traders are making impulsive decisions.
In order to minimize the risks, it’s important to limit your leverage. While Exness offers unlimited leverage, during the account opening you are free to pick the appropriate leverage for you. In Europe, where regulations on CFD trading are strict, retail traders can only open accounts with up to 30:1 leverage. For professionals, the maximum available leverage is 200:1.
