The evolution of Forex has provided opportunities to many people. And, its popularity has shown that it is here to stay. Starting from the early 1970s, Forex Trading has made quite a name for itself. People got a new concept of trading in different currencies in the online world. You do not have to leave the comfort of your home to be a part of this world. Devices, like laptops, PC, and smartphones, are all compatible with it. Also, there are thousands of sources for learning about trading and how to get the perfect start.
However, it is not only the number of traders that are rising. The number of brokers are also increasing in the Forex world. Hence, it can make it quite challenging for newcomers to choose the right brokerage house. That is why it is always best to go for the popular options. But, people are usually troubled by the thought of the initial deposit amount. Some brokers require a large amount that is not affordable to many people, while others ask for a smaller price. And, Exness is one of those famous brokerage houses globally that has the lowest deposit amount. You may be wondering how much is it? Well, no need to look further than here.
What Is The Exness Minimum Deposit
Although most brokers have a requirement of a high initial deposit, Exness is not like that. In fact, it is one of the only few that ask for a very low minimum amount. With that said, the initial deposit of Exness is as low as $10. With this amount, you can get started in the Forex Trading world.
However, it is not the ultimate amount. That is because Exness offers multiple types of accounts. But first, it is important to discuss why the $10 deposit is suitable for most traders.
Benefits of $10 Exness Minimum Deposit
If you look at the bigger picture, the $10 is nowhere near the large profits you can make with it. However, its biggest advantage is for new traders. Beginners are usually learning as they are going. That is why they need to start with as low as possible. This amount is affordable for almost everyone and can be invested without any hesitation.
While Forex is a platform of risks, it does not necessarily mean that you have to put a large amount of money at risk. You can still try safely by starting low. But, many will debate that the profits will also be much lower with this starting price. Although it is true, a beginner would not need a large profit. Since they are still learning, it is better to face small losses and profits.
It is the main reason why Exness has gained such popularity. It is considered a safe option for beginners. With that said, let’s look at the various types of accounts the broker offers. It will help you decide which is the right one for you.
Exness Account Types
Unlike many other brokerage houses, Exness offers more than one account type. It is another useful feature for new traders. This way, they can easily choose which type is more suitable for them. Each has its own initial deposit as well as spreads. The commission also differs in these account types. Although there are two main types, Standard and Professional, they can be classified further. To provide a clearer picture, here are all the types of accounts Exness offers.
- Standard Accounts
A standard account is a go-to option for most traders. There are several reasons for it. But most importantly, it is the least complicated one. Hence, beginners, as well as advanced traders, can get the hang of it. With Exness, the standard accounts are divided further into two more types to provide ease for its traders.
The first and the most common is the Standard Account. And, the other one is the Standard Cent Account. Both have the same spread of 0.3 pips. Also, both standard accounts require a minimum of $10 Exness Minimum Deposit. A few differences include that the Standard account is compatible with both MT4 and MT5 platforms, while the latter uses only MT4. The Demo Account Type is not available for the Standard Cent Account.
- Professional Accounts
As the name suggests, these accounts are usually for experienced traders. Large companies that are willing to invest a large amount are also interested in Pro accounts. However, this account is further classified into three more types, Pro, Zero, and Raw Spread Accounts. The difference between them is in the leverage and spreads. Another notable variation among them is the commission. The Pro account has none, while the other two offer 3.5 USD.
The Initial Deposit amount is the same in all of these professional account types that is a minimum of $200. Also, all the types are compatible with demo accounts.
- Demo Account
If you are looking for an account to start as a new trader, the demo is the best option. It allows you to trade with virtual money with no real value. It is also a helpful way for advanced traders as they can strategize their later trades. Demo accounts are available with all account types and have the Exness Minimum Deposit, depending on the type you choose.
- Islamic Account
Exness offers convenience for Muslim traders as well. With an Islamic account, you can agree to all the terms and conditions according to the Islamic value of trading.
This article will help you understand all the different types of accounts. Plus, it will also give you a better perspective of the Exness Minimum Deposit that starts with a low amount of $10. After going through all the mentioned points, it will be much easier for you to decide the best account type for you and start your career in Forex Trading.