Exness Review - Cent Account Minimum Deposit Kenya
Exness offers various account types that allow traders to trade in a range of popular markets, such as currencies, metals, energies and stocks. Furthermore, they provide CFDs on cryptocurrency and indexes.
The broker provides three Standard Accounts on MT4 and MT5, as well as a Cent Account. Both these accounts require a minimum trading volume of 0.01 cent lots and are ideal for newcomers or traders wishing to hone their strategies.
Minimum Initial Deposit
Exness offers a variety of trading accounts, such as the popular Cent Account. This account type allows trades to be denominated in cents of the base currency and requires just $1 for initial funding.
Traders can open an Exness account by filling out the online registration form and verifying their personal information. After verification of identity has been done, traders can fund their trading account with the required minimum initial deposit.
Once a trading account has been verified, traders can make deposits and withdrawals using various methods. These include e-wallets, prepaid cards, and bank transfers.
Exness provides an Islamic Account, which is ideal for Muslim traders who wish to trade without paying any swap or rollover charges. Furthermore, Exness supports multiple major and minor currencies, making it a versatile broker for South African investors.
Though some brokers charge fees for funding and withdrawing via MPesa, Exness does not. It's essential to remember that using this payment method may result in losses due to conversion rates.
Exness offers a broad selection of financial instruments, such as stocks and cryptocurrencies. In addition to these, it also provides silver and gold crosses with AUD, EUR, GBP, USD, as well as palladium and platinum futures contracts.
On the platform, there are a range of trading tools such as expert advisors. These can automate trading and help reduce the potential losses in funds.
Aside from these tools, the broker provides live news updates and educational content. This makes it a great option for Kenyan investors who want to remain abreast of market developments and trends.
Exness has another advantage for Kenyan investors by providing them with access to the MetaTrader 5 (MT5) platform. This enables them to monitor and execute trades from any location, while having a user-friendly interface that makes placing orders quick and effortless.
Depends on the payment system
Exness offers a variety of payment systems for deposits and withdrawals, most available as instant methods. However, some may charge fees so it's essential to double check the terms and conditions associated with your chosen electronic payment system (EPS).
Depositing funds to an account at Exness is a breeze, with many options offering a minimum deposit of just USD 10 or less. Plus, most of these have no fees attached - making them ideal for novice traders looking to fund their accounts quickly and easily.
The broker also provides prepaid card options like Neteller and Skrill. These come in various currencies with no minimum deposit requirements, making them ideal for low-cost trading.
Withdrawing funds from an account is as easy as reaching out via email or live chat. All withdrawal requests are processed immediately, and you can typically expect your funds in minutes.
Another element to consider when trading is the type of account you select; this can affect your overall costs. For instance, the Pro account might be best for more experienced traders while the Standard account works better for new ones.
Leverage is a tool that enables traders to trade with larger amounts of money than they actually possess in their account. While it can increase profits and losses, it also poses risks. Therefore, it's essential for traders to comprehend how leverage works and how it may increase the likelihood of losing substantial sums of cash on one single trade.
Traders can leverage a range of assets, including forex and CFDs on stocks and indices, commodities, as well as cryptocurrencies. Cryptocurrencies like Bitcoin or Ethereum may be especially popular choices for high-leverage traders but be aware that this could come at the cost of increased risk.
Metals are another popular asset class, with gold and silver available in a variety of crosses. Maximum leverage on gold contracts is 1:2000, while silver and palladium futures offer lower ratios.
Exness offers nine account types, each with its own minimum deposit requirements and trading platform preferences. Despite these distinctions, overall trading costs remain below average across all accounts. It provides a wide range of market instruments as a market maker (meaning it sets prices internally) plus it has an extensive set of trading tools as well as an informative help centre with expert articles.
Exness offers its clients a selection of trading instruments, such as forex, commodities and indices. Its MT4 and MT5 platforms enable mobile trading while customer support is available in English, Thai and Chinese.
Traders may use leverage to trade more than they have available in their accounts, increasing the potential for profits or losses. However, high levels of leverage also present an increased risk of account wipeouts.
Exness offers a maximum leverage of 1:2000, which is considerably higher than the typical 1:50 offered at most brokers. While this can be advantageous for traders looking to maximize their profits, it may not be suitable for all investors.
Leverage is typically calculated based on spreads, which are the differences between bid and offer prices for an asset. At Exness, these fees vary by account type and are charged in cents.
At Exness, there are two account types: Standard and Pro. Both come with differing commissions and minimum trading volumes as well as other features. The Pro account is particularly popular among experienced traders due to its low trading costs; on the other hand, new traders may prefer using the Standard account.
Both types of accounts provide market execution and can be utilized for both short- and long-term trading. The Pro account offers instant execution on most CFDs, while the Standard account only supports certain instruments.
Standard accounts require less minimum trading volume than Pro accounts, yet still provide enough opportunity to test out trading strategies and robots without risking too much money. The only drawback is that you must deposit at least some funds into your account before trading begins.
Investors have several deposit methods available, including bank transfers and credit/debit cards. Exness also accepts eWallets such as Skrill and Neteller, plus crypto-wallets like Bitcoin and Ethereum.
Exness stands out among brokers by not charging fees for deposits or withdrawals. However, they may charge a currency conversion fee when making transactions in another currency than your trading account's base currency.
Minimum Trading Volume
Exness offers a comprehensive selection of deposit and withdrawal methods to help traders fund their accounts quickly and easily. Most methods are instantaneous, with many having no fees attached - making funding an account with Exness much cheaper and simpler than with most other brokers.
The minimum trading volume required for an Exness cent account is typically 10 lots per month, though this may differ depending on the broker. Exness also offers a demo account which allows traders to practice risk-free trading without investing actual funds.
Tools are available to help traders learn more about trading, such as a free education hub and YouTube videos. With these resources, you can gain an understanding of market news, technical analysis, and fundamental analysis. These insights can help develop new trading strategies and boost profits.
Exness offers a vast selection of Forex pairs, including popular global currencies. Additionally, it supports various metals, cryptocurrencies, energies and indices; however it lacks an extensive selection of share CFDs to trade.
Leverage can be a powerful tool for traders, but it comes at the risk of increased volatility. That is especially true for Forex and Cryptocurrency CFDs which tend to have high volatility rates. Thus, it is essential to use leverage wisely and only trade when you have enough capital available.
It's essential to be aware of the swap rates charged for positions held overnight and how they impact your trading costs. Exness provides openness regarding its overnight financing rates and provides a user-friendly trading calculator to calculate these fees.
Exness' spreads are highly competitive. They exceed both the industry average and those offered by most other brokers.
Their Professional Account offers competitive commission rates, starting at just $0.2 for each side lot on major currency pairs like EURUSD and going up to a maximum of $3.5 on other pairs.
Exness offers a comprehensive suite of trading platforms and its own web-based platform that lets you trade while on the go. These include MT4 and MT5 desktop applications, as well as WebTerminal browser-based applications. Furthermore, Exness' mobile app lets you trade from any device.