One thing to confuse new forex traders is the initial deposit amount. While many brokers have affordable requirements, others ask for a much higher price. That is why beginners avoid dealing with expensive brokerage houses as they fear losing money.
However, Exness is widely known as one of the most pocket-friendly brokers in the world. Are you wondering how much it is? Well, we have got it covered. Here’s all you need to know about the lowest minimum deposit of Exness broker.
What is the Exness Broker Minimum Deposit?
Before going into the details, let’s do a background check of the broker. Since many traders are worried about falling into scams, it will be very helpful. Exness was founded in 2009 and is working with nearly 60,000 active clients across the globe.
Therefore, you can ensure that your money is in safe hands. Plus, it is regulated by FCA (Financial Conduct Authority) and CySEC (Cyprus Securities and Exchange Commission). Exness UK Ltd is an authorized name under which the broker operates.
- Standard Account
Now that you can trust Exness broker, let’s look at its minimum deposits. Starting with the lowest one, Standard Account requires only $1. The broker might be the easiest one to get started.
Combine that with 1:unlimited leverage, spreads as low as 0.3, zero trading commission, and other standard accounts.
Another excellent feature is that it is compatible with both MT 4 and MT 5. You can trade with over 80 different currencies, both popular and exotic.
- Standard Cent Account
The Standard Cent Account is very much like its predecessor. It has the same 1$ minimum deposit and unlimited leverage.
However, it is more aimed at intermediate traders. You can use it for trading Forex currency pairs as well as precious metals.
It differs due to its maximum number of positions, which is 1000. Another distinctive feature is the maximum lot size which is 200 all the time.
- Pro Accounts
One might argue that standard accounts of Exness broker are only for new Forex traders. But, there is another category dedicated entirely to experienced traders.
Three different account types fall in the ‘Pro’ category. All three types have a $500 minimum deposit. But, the leverage is the same, 1:unlimited. Although there are 0.0 pips spreads, the commission per lot is $3.5. These accounts are available for Forex currency pairs, cryptocurrencies, energies, metals, and indices.
- Get Started For Free
Yes, you read that right, Exness broker does allow you to get started for free. You can use the demo account for that as it has no initial deposit amount. Moreover, you do not need to spend your money on trading because it allows virtual funds.
That also excludes the risks of getting scams. The demo account will help you understand the brokerage company in depth.
Exness broker offers the maximum convenience for traders, whether they are new or experienced. You can start today with the lowest minimum deposit amount you will find in the Forex Market.