Sunday, 30 July 2017

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What Exness forex account you should choose?

Firstly, you should know that Exness is the biggest retail forex broker on this earth (not include Japanese brokers). From March 2017, Exness trading volume hit 313 bln USD and they officially became the biggest forex broker:
- Exness: 313$ bln.
- 290$ bln forex. (Their total trading volume is 500$ bln but only 290$ bln forex and 210$ bln other commodities).
- FXCM: 210$ bln.
 Learn more about their financial report here.

It isn't naturally most of big traders choose Exness. Most of professional traders don't trade with one forex broker only. They trade with many brokers at the same time and allocate budget more for better broker. So, trading volume reflect how good that broker is.
Exness offers all types of accounts which suitable for fresh traders and professional traders, both real and demo accounts. So, what forex account is the best for you? I will explain you in detail here:

1. Exness trial accounts.

Most of forex trader convince you that you should open trial accounts first. After 1 - 2 months, when you got enough experiences, you can open real forex accounts. I think different.
Because you don't invest your real money, so, all trading condition and trading mentality are wrong. And most of brokers want you win for trial accounts. So as usual, most traders will win when they trade trial forex account but most of them will lost for real accounts.
Besides, because you won't a lot of invisible money when you trade demo account, so you will feel over confident in your trading ability. This is the death fault which takes all your money.
Instead of trial account, you should open cent account. Cent account is the best account for fresh traders. why? because:
- It's real account. You will trade in real trading conditions.
- Real trading mentality. If you can make money from Cent account, you can make money from other account types.
- You just deposit 10$ for learning and never lost more. For cent account, you deposit 10$, you will get 1000 USC in your account. It's similar with 1000 USD. So, it's enough to try all trading strategies and practice what you learned. In bad situation, you lost all your 10$, it's okay. 10$ is very low learning cost. If you can not spend 10$ for learning, don't trade!

2. Exness forex account for mini experienced traders.

If you are experienced forex traders, you should open Mini account. This is the most popular forex account. Most of Exness traders choose Exness because many advantages.
- Spread low as 0.3 pip.
- Minimum deposit: 1$.
- Minimum position trading volume size: 0.01 lot
- Leverage: 1: unlimited => More detail here
- Instant deposit and withdrawal.
- Fast execution spread.

3. Exness forex accounts for professional traders.

There are 2 types of accounts for professional traders who trade huge amount of fund.

Exness Classic account:

This account is perfect for big trading volume because:
- Spread is low as 0.1 pip and there no extra commission. 
- High execution spreed.
- Unlimited leverage
- Instant withdrawal.
Because of high quality condition and low cost, so minimum deposit for this type of forex account is 2000$.
Exness classic account

Exness ECN account:

As you may know, ECN account is the best account for professional traders who wanna trade with real liquidity providers (real market). But ECN account isn't suitable for most of traders. It's very risky, volatile. For me, only Bank should trade ECN account. For individual traders, it's better to trade Mini or Classic accounts.
Some information about Exness ECN account:
- Spread = 0
- Commission: 2.5$/lot (1 side).
- Min deposit: 300$.

About ForexGuru

Hi, I am Peter, a 9 years experienced trader. I have traded with many brokers and there are only some brokers are good to go. So, what i shared you is very useful for your trading career.


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