When choosing a broker to trade with, one of the key factors to consider is the types of accounts available. Exness, a popular global forex broker, offers various account types tailored to different types of traders, from beginners to experienced professionals. The right account type can greatly impact your trading experience, offering unique benefits like lower spreads, flexible leverage, and better access to various markets. To help you make an informed decision, let’s take a look at a comprehensive comparison of Exness account types. For a detailed overview, visit different Exness account types comparison.
1. Standard Account
The Standard account is an excellent choice for beginner traders who are just starting to explore the world of forex trading. It is simple to use and offers a user-friendly interface with no complex features. The minimum deposit for the Standard account is relatively low, making it an attractive option for those with limited capital to begin trading. It supports both market and limit orders, and the spreads are generally higher compared to other accounts, but still competitive in the industry.
The Standard account offers floating spreads starting from 0.3 pips, and traders have access to leverage of up to 1:2000, which provides flexibility in managing positions. Importantly, the Standard account does not charge any commission on trades, making it an appealing choice for those who prefer straightforward trading without additional fees.
2. Standard Cent Account
The Standard Cent account is another beginner-friendly option but with a twist—it allows traders to trade with cent-based lots rather than standard lots. This makes it an excellent choice for new traders who want to practice without risking significant capital. The concept of cent-based trading is designed to help traders gain experience by using smaller amounts of money, reducing the emotional pressure that can come with trading larger sums.
Just like the Standard account, the Standard Cent account offers floating spreads from 0.3 pips and no commission on trades. However, the minimum deposit required for this account is lower, making it a great option for traders with limited funds. Leverage of up to 1:2000 is also available, providing flexibility to adjust position sizes and trade strategies.
3. Raw Spread Account
For more experienced traders who prefer tight spreads, the Raw Spread account is a great choice. This account type is designed for those who are serious about trading and want to maximize their profit potential with lower spreads. Raw Spread accounts come with floating spreads starting from as low as 0.0 pips, but they do charge a commission per trade.
The commission on the Raw Spread account is typically calculated as $3.5 per lot per side for each trade, which is relatively low in comparison to other brokers. This means that although you may pay a commission, the significantly tighter spreads make up for it, allowing traders to execute strategies that rely on small price movements.
This account also supports leverage up to 1:2000 and provides access to a wide range of markets, making it ideal for active traders and scalpers who require fast execution and low transaction costs.
4. Zero Account
The Zero account is specifically designed for traders who want to avoid paying commissions while still benefiting from tight spreads. This account type offers extremely low spreads starting from 0.0 pips, and no commission is charged on trades. It is ideal for those who want to trade with minimal cost and can handle variable spreads.
Although the Zero account does not charge a commission, the spreads are typically higher during volatile market conditions. However, for traders looking for a balance between tight spreads and low costs, the Zero account can be a strong option. Like other accounts, the Zero account offers leverage up to 1:2000.
5. Pro Account
The Pro account is designed for professional traders who need advanced trading tools and features. With the Pro account, traders gain access to even tighter spreads, starting from as low as 0.1 pips, and the ability to trade with more sophisticated trading strategies. This account offers faster execution speeds, which is essential for high-frequency traders.
Pro accounts charge a commission of $3.5 per lot per side, and the minimum deposit is typically higher than the Standard or Cent accounts. The Pro account also allows for up to 1:2000 leverage, ensuring that traders can manage their positions according to their preferred risk tolerance. It is ideal for day traders, swing traders, and professionals who require advanced features to enhance their trading experience.
6. VIP Accounts
The VIP account is targeted at high-volume traders and investors who are looking for a more personalized trading experience. VIP accounts offer the tightest spreads and the best conditions available on the Exness platform. Traders can expect spreads from 0.0 pips and can benefit from an exclusive customer support service, as well as priority access to new features and promotions.
To qualify for a VIP account, traders must meet specific criteria, including a significant minimum deposit, which can vary depending on the region. VIP accounts provide access to advanced trading tools, faster execution speeds, and premium services that are not available with other account types.
Conclusion
Choosing the right Exness account type depends on your experience, trading style, and risk tolerance. For beginners, the Standard and Standard Cent accounts offer a low-risk environment to learn the ropes of forex trading. For more experienced traders, the Raw Spread, Zero, and Pro accounts provide access to tighter spreads, lower commissions, and faster execution, ideal for those looking to maximize profits from small price movements.
If you’re looking for an account that offers premium features and services, the VIP account is a perfect fit for high-volume traders. By understanding the different features and benefits of each account type, you can select the one that best fits your trading needs.
