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In the high-speed world of forex trading, every pip matters, and fractions of a second can mean the difference between profit and loss. The choice of a broker, therefore, becomes a critical factor that can significantly influence a trader’s journey. When choosing a broker, most traders examine features, platforms, tools, and customer support. However, there’s one factor that often gets overlooked but has a substantial impact on profitability – trading costs.
Introducing Exness, an online forex broker that not only excels in offering sophisticated trading tools and features but also shines in ensuring low trading costs for its clientele. Established in 2008, Exness has been making waves in the forex market, carving a niche for itself by offering competitive spreads and low trading costs.
In this blog post, we will look at Exness’s trading costs and other factors that make it a top choice for traders globally.
What are Trading Costs?
Forex trading costs are the expenses that traders incur when executing forex trades. But do they really have to take a bite out of your potential profits? Not necessarily. By understanding these costs and choosing a broker that offers competitive rates, you can significantly increase your profitability.
The low trading costs on Exness, therefore, are an attractive factor for many traders worldwide. Designed to optimize trading efficiency, they greatly contribute to maximizing the potential returns for traders, regardless of their trading volume or strategy.
Trading costs typically comprise two main elements: spreads and commissions.
The spread is the difference between the bid (the price at which you can sell a currency pair) and the asking price (the price at which you can buy a currency pair). Brokers with lower spreads offer a great advantage, particularly in low-volatility markets where you can start making a profit with smaller price movements.
On the other hand, commissions are service charges that brokers levy on your trades. It could be a fixed fee, a percentage of the trade, or sometimes a combination of both. While a lower commission might seem favorable at first glance, it’s important to understand the overall cost structure. Some brokers might offer low commissions but compensate for that with wider spreads.
Exness’s Competitive Trading Costs
In the Forex market, a minor difference in the spreads and commissions can have a significant impact on your trading results, particularly if you’re a frequent trader. This is where Exness shines, offering competitive rates that cater to various trading strategies and volumes.
Here’s a table that summarizes the Exness spreads and commissions per account
| Account Type | Spreads | Commissions | Best Suited for |
| Raw Spread Account | From 0.0 pips | Up to $3.50 each side per lot | Novice traders who want to take advantage of raw market prices |
| Zero Spread Account | From 0.0 pips | From $0.20 each side per lot | Intermediate traders who prefer a balance of competitive spreads and reasonable commissions |
| Pro Account | From 0.1 pips | No commission | Experienced and high-volume traders |
Why Exness Remains a Top Choice Among Traders
From the table above, it’s evident that Exness’s commitment to competitive spreads and commissions serves traders of all experience levels, from novices to seasoned veterans. And according to Exness statistics about traders, the platform has close to half a million active traders in 2023 and executes about 6 million trades a day. With such great popularity, there’s obviously more to the story than just competitive spreads and low commissions.
High Trading Volume:
This year, the platform recorded an all-time high trading volume of over $3.8 trillion. The impressive trading volume on Exness is not just a testament to its popularity but also contributes to a robust trading environment. High trading volumes often mean more liquidity, which typically results in tighter spreads, less slippage, and better execution speeds.
Regulatory Compliance:
One of the most important factors to look out for in a platform is its regulation. This begs the question, “How is Exness regulated and by who?” Exness operates under the oversight of several top-tier regulatory authorities in 8 countries.
These include:
- The FCA in the UK
- The FSC in Mauritius
- The CySEC in Cyprus
- The FSA in Seychelles
- The FSC in the British Virgin Islands
- The CMA in Kenya
- The FSCA in South Africa
- The CBCS in Curacao
These regulatory bodies ensure the broker adheres to strict operational standards, providing traders with an added layer of protection and trust.
Multiple Trading Instruments and Platforms
Exness provides access to a broad spectrum of financial instruments, allowing traders to diversify their portfolios. These include Forex pairs, indices, commodities, stocks, and cryptocurrencies.
In terms of platforms, Exness supports both MetaTrader 4 and MetaTrader 5 – two of the most popular and powerful trading platforms in the industry. These platforms are known for their advanced charting capabilities, algorithmic trading options, and customizability. They’re also available across multiple devices, in mobile and web-based versions.
In addition, Exness offers a user-friendly and intuitive proprietary web trading platform, which is perfect for those who prefer trading directly from their browser.
How to Get Started on Exness
Forex trading can seem overwhelming for beginners. However, with a user-friendly platform like Exness, the process becomes significantly simplified. Here’s how to get started:
Step 1: Open an Account
Knowing how to open an Exness real account is your first step to trading. Simply visit the Exness homepage and click on the “Open an Account” button. Fill in your details and create an account password.
You may be asked to complete a short questionnaire to assess your level of trading experience and ensure you understand the risks associated with trading. Then, you’ll need to verify your account email and you’re all set!
Step 2: Select an Account Type
Once your account has been verified, you can log in to the Exness client portal using the credentials you’ve just set up. As we discussed earlier, Exness offers three different account types; so review what each has to offer and select the one that aligns best with your trading objectives.
Step 3: Fund Your Account
After selecting your account type, you must deposit funds into your account to start trading. Exness supports a variety of payment methods for your convenience, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. Choose your preferred payment method, enter the amount you wish to deposit, and follow the prompts to complete the transaction.
Image Credit: Photo by Nicholas Cappello on Unsplash