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EXNESS: Which account type is available to new Exness traders?
Source:https://exnessblog.com/frequently-asked-questions-faq-of-trading-on-exness-part-3-0001585 | Author:finance-102 | Date2023-06-06 | 262 Views | Share:
Of the account types offered by Exness, the Standard Cent account is the most user-friendly to new traders. This account type allows you to trade with much smaller trading units known as cent-lots, as well as requiring no minimum deposit to get trading.

Of the account types offered by Exness, the Standard Cent account is the most user-friendly to new traders. 

This account type allows you to trade with much smaller trading units known as cent-lots, as well as requiring 

no minimum deposit to get trading.


Lots vs. cent-lots


A lot is a standard unit size of a transaction and is typically equal to 100 000 units of the base currency, used 

to calculate margin, free margin, and pip value. On the other hand, cent-lots represent only 1 000 units of base

currency, meaning you are trading much smaller volumes.


In this way, cent-lots mitigate risk when trading compared to standard lots.


For more information about cent-lots, follow the link for its explanation on the Standard Cent account page.


No Minimum Deposit


Having no minimum deposit requirement means trading is more accessible to new traders.


Demo Accounts


Alternatively, if you wish to practice trading without using real money then a demo account is the best option. A 

demo account is not available for Standard Cent accounts, but can be used to trade on all other account types 

offered at Exness. The trading conditions are the same for both real and demo accounts, so it’s very practical for 

learning how to trade.