I am sure that lots of traders are confused when they need to decide the account they would open through Exness forex broker. After all, it has a whole 3 types of demo accounts and 4 types of real ones. So, which one should be opened? What difference there is between these Exness forex broker accounts?
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Exness Cent accounts
There usually are 3 kinds of traders using Exness Cent accounts:
First of all, the traders that have never done business with Exness before. So, they don’t know if this platform is great or not? Is the spread high or not? How fast can the request be executed? Thus, they open up a Cent account to test things out. The advantage of this method is you only have to deposit a small $10 for 1000 USC in the account. This number is large enough to test out all the trading conditions available at Exness. I make a lot of transactions at Exness, and I know that the condition of Mini and Cent accounts are not too different. Low spread goes from 0.3. Exness leverage for this account type is also quite good.
There are also many people who utilize Scalp robot to make trades. This robot’s features are to make many trade requests when it sees favorable waves. Due to this, the trader can prioritize the accounts with a smaller volume of transactions. Exness Cent account has a trading order volume from 0.01 Cent lot, so trading robots prefer it.
There are the ones who are learning about the transaction and have little experience. Trading with Exness Cent account would help to reduce the risk of throwing out a bunch of cash. However, it is still traded in real conditions and the money can be withdrawn.
Exness Mini accounts:
Exness Mini account is the most popular accounts of this trusted forex broker. There are over 80% traders that choose it due to Exness minimum deposit being nonexistent. There is also the 0.01 lot minimum trade volume, the 0.3 low spread, and the unlimited high push along with the great Exness leverage.
Thus, if you trade professionally, Exness Mini account is the best.
The best account for pro traders is Exness Classic and ECN accounts. After all, the pros are all aware of ECN being the single best one for them. However, most of these guys trade using ECN, which is not as great as it is not as stable, its price also fluctuates quite fast with some dramatic falls. Besides, the transaction with ECN is a lot more complicated, which means you need a lot more techniques and knowledge. That is why Exness releases the Classic account.
These accounts are more advantageous than the ECN ones as they are more stable. Because Classic ones are designed for big transactions, its spread is in fact quite low. There is no fee for the commission. Furthermore, the push is a whole lot higher, adding to the quite fast drop of the price. This is not mentioning the sweet Exness leverage. That is why the Classic account is indeed the best choice for you if you are a pro but you don’t like the problem with ECN. You should note that with the first deposition, the minimum amount must be $2000, after that you can put in however much you would like.
So which kind of account should you make? I personally like the Classic account. Even though you must make a big deposition, there will be no limit for the next deposits, that means you can make your depositions as big as you would like. That is why in the case of you wanting to invest in Exness forex broker in the long term, the Classic account is the best one as it will save you a significant cost on the spread.
Click to check Exness latest feature: Exness social trading.