Ever since it was first introduced, Forex has only seen a rise in its users. Most of its credits go to its ease of trading. While most other ways would require you to meet other people physically, you can do it with a simple touch on your smartphone. You can trade and access any market around the world from any device you have. It is the main reason why more and more traders are joining it every day.
Also, the idea of trading in different currencies attracts people. However, as the number of users grows, brokers do too and use QuickBooks offline. As of now, there are more than 1,230 brokers worldwide, only for MT4 trading platforms. The number varies when you consider MT5 as well.
Although the rise of brokers is a benefit, it can be considered as a demerit too. That is because of the reports of scams. The number mentioned above only shows registered brokers. There are many brokerage houses operating without certification and license.
They lure new traders into investing a large amount of money. To avoid scams, it is best to choose a brokerage house that is trusted globally. There are many famous people out there, and one of them is Exness. A popular broker that only requires a low deposit amount. It is a significant upper hand over most other brokerage houses.
You may be wondering how much the deposit actually is, well no need to worry. This article will tell you that as well as all other necessary aspects that you need to know about Exness Minimum Deposit. So, let’s get started.
How Much is the Exness Minimum Deposit
Before going into details about the initial deposit, it is necessary to consider the basic information about the broker. Exness is a popular global broker firm. Since its headquarters are situated in Seychelles, and it is originally from Cyprus, it allows more people to trust the brokerage house. This way, people from all over the globe can trade with the broker without any limitation.
As for its regulation, it is supervised by various regulatory bodies. That includes FCA, FSA, CySEC, FSC, CBCS, and FSCA. It has won numerous awards due to its reliable trading environment and trust from people all over the world.
With that said, let’s discuss the Exness Minimum Deposit. It requires as low as $10. That is why it is considered a safe option for beginners and amateur traders. The amount is not high, so the risks are also low. Plus, it falls into the budget of almost everyone.
However, there is much more that you need to know before investing your $10. Here, we have gathered all the other charges and benefits that you get, along with your initial deposit. It will provide a clearer picture to help you decide whether Exness is the right choice for you or not.
How Multiple Account Types Affect the Exness Minimum Deposit
Exness offers various types of accounts. They are very useful when it comes to your experience in trading. For instance, The Standard accounts (The Standard and Standard Cent) are suitable for beginners. They only require a minimum of $10 as an initial deposit. Plus, there are no complications in them. The spreads are also there and are as low as 0.3 pips.
All you need is to create an account and download a suitable trading platform to get started. They both support MT4 platforms, which is the most popular one. However, The Standard Account is compatible with M45 platforms as well. So, the users do not face any inconvenience.
But, when it comes to professional accounts, that is where the Exness Minimum Deposit varies. There are three types of Professional accounts, namely Pro, Zero, and Raw Spread Account. They all require a minimum of $200 as an initial deposit. Since it is a large amount, it is not recommended for beginners. They are usually in the learning stage and can risk a large chunk of money in these accounts. It is preferred for experienced traders and large companies.
Although there are other types like Islamic accounts, the minimum deposit amount does not differ in it. However, Demo accounts are also popular as they are available in both Standard and Professional, except Standard Cent accounts. Their initial price also depends on the type, and they are suitable to strategize in the market.
Exness Minimum Deposit Currency and Fees
Unlike most other brokerage houses, Exness does not have any deposit fees. It means there are no additional charges involved when depositing the initial amount. Plus, there are several currencies available to fund an account. These include USD, ZAR, GBP, AUD, and many more.
However, there is one thing to note here. No matter what currency you opt for a deposit, it will be converted to USD. Hence, the conversion rate will be applied. With that said, there is no extra trading cost to pay before the deposition.
Payment Methods For Deposit and Withdrawal
To pay your Exness Minimum Deposit and for withdrawal, there are several methods available. This way, traders will not face any inconvenience.
- Bank cards
- Internet Banking
- Perfect Money
- Internal Transfer
- AstroPay Cards
If you choose Skrill as your option and want to withdraw an amount less than $200, there is a fixed fee of $1. As for the time it takes for withdrawal, it varies according to the payment methods. Some might take a few hours or days, while others can get it done instantly.
To summarize, Exness Minimum Deposit is way less than as compared to most other brokers. If you look in the market, the average cost is $100. That is why Exness is one of the top choices among new and advanced traders all over the globe. With all of the factors mentioned above, it can be easy for you to make the right decision.