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Exness is a global Forex and CFD (Contracts for Difference) broker founded in 2008. The broker is regulated in various jurisdictions, including the British Virgin Islands, Curaçao, Cyprus, Kenya, Mauritius, Seychelles, and the UK. Traders can start opening live accounts with this broker from 10 USD on Standard accounts. The broker offers various account types in order to meet the needs of different traders. The available account types are:
It should be mentioned that the minimum initial deposit required to open the Pro account is 200 USD, and there’s a large number of account currencies to choose from. In addition to the live trading accounts, demo, and Islamic (swap-free) accounts are also available.
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.
|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|
|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|
|Stop out||0% (see details about stocks)||0%|
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:
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.
The broker offers multiple funding options to its clients. It’s important to mention that there are different minimum deposit requirements for each method. In addition, transaction speeds are also different. These factors need to be considered when funding your Standard account. You can view the table below for more details.
|Funding method||Minimum deposit amount||Time of transaction||Minimum withdrawal amount||Time of transaction|
|Bitcoin||$10||within 24 hours||$10||within 24 hours|
|Bank Card||$10||within 30 minutes||$10||within 24 hours|
|Skrill||$10||within 30 minutes||$10||within 24 hours|
|Neteller||$10||within 30 minutes||$4||within 24 hours|
|Perfect Money||$10||within 30 minutes||$2||within 24 hours|
|USD Coin (USDC ERC20)||$10||within 24 hours||$100||within 24 hours|
|USD Coin (USDC TRC20)||$10||within 24 hours||$10||within 24 hours|
|Tether (USDT ERC20)||$10||within 24 hours||$100||within 24 hours|
|Tether (USDT TRC20)||$10||within 24 hours||$10||within 24 hours|
Withdrawal requests are processed instantly from the broker’s end. However, intermediary banks may take from 7 to 10 business days to finalize the transaction.
Overall, the Standard accounts offered by Exness give great trading conditions to novice and swing traders alike. Trading fees are low as spreads start from as little as 0.3 pips. Traders need to be aware that MetaTrader 4 can give them access to trading currency pairs and precious metals, while for trading assets such as metals, cryptocurrencies, energies, stocks, and indices, they need to install MetaTrader 5. In addition, it’s important to pick the leverage amount carefully as it is a double-edged sword and can amplify profits as well as losses.