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For traders who are new to the forex market, it’s a complicated thing to choose the right type of account to start with. Currently Exness has 4 types of accounts and 3 types of forex demo accounts, which in total are a lot to choose from. Therefore today, I’ll be reviewing the differences of each type of Exness accounts.
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EXNESS CENT ACCOUNT.
There are 3 types of traders who would prefer Cent Account at Exness:
- First is the type of people who’ve never made any investment, specifically in Exness. Cent Account comes to use because with Cent Account, you need only deposit $10 to get as much as 1000 USC in your account, which is enough to last you for months of trading at Exness. I find that there’s not that much difference in terms of trading fee between these two accounts. The lowest spread typically is 0.3.
- The second type of people are the ones who use Scalp robot to trade. The reason Exness’s Cent account is so attractive is because of its small trading order volume, which is 0.01 lot Cent (0.0001 lot USD).
- The third type of trader is the kind that are learning the forex market but do not have the necessary trading experience, which is why they choose to trade with Cent Account because Cent Account provides them with the safety of an ideal trading environment, perfect for beginners. Despite its risk-free environment, Cent Account still has the real trading conditions and you can always deposit and withdraw your profits at will.
MINI ACCOUNT AT EXNESS:
Mini account has always been one of the most favorite types of account among traders at this best forex broker. Statistically, over 80% of traders at Exness choose Mini account due to its vast number of benefits such as no minimum deposit requirement, 0.01 minimum trading volume, low spread and unlimited push.
Mini account is also pretty popular among professional traders so give it a try if you haven’t.
THE ACCOUNT FOR PROFESSIONAL TRADERS.
Obviously, professional traders deal with an entirely different aspect of trading here. Exness currently offer 2 types of account for professional traders which are the Classic and Exness ECN accounts. ECN account is, without a doubt, everyone’s first instinctive choice. However, it might not be that wise of a choice since most professional traders fail with ECN account. The reason for this is due to the fact that ECN account is a lot more unstable, the market’s price fluctuates rapidly and in an unpredictable manner. Furthermore, transactions with ECN account is also a lot more complicated, which requires extensive reading and understanding of the market, its mechanics and techniques. Classic account is then released for these same reasons, to support the traders who can’t do well with ECN account.
Classic account’s advantage, compared to ECN account, is that it is a lot more stable. It is designed for traders who deal with large amount of transactions as well as money, with benefits such as low spread (0.1 lowest) and no commission fee. Classic account also has slightly higher push, and the market’s prices go down a bit faster. This is the perfect type of account for traders who are unhappy with ECN’s trading conditions and wish to find another alternative.
Do note in mind that Classic account has a minimum deposit requirement of $2000 for the first deposition only.
As for me personally, I suggest that every trade should try Classic account due to its versatility and reliability. The minimum deposit requirement might be a little bit high for the first time, but after that, there’s no limit at all for your deposition.
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