If you're looking for a cheaper standard account with lower spreads and higher leverage, Exness standard account comes out better than FP Markets.
Generally, a standard account represents the simplest type of account that traders can access as the most basic features are available. The minimum deposit requirement in a standard account tends to be relatively affordable as it is targeted at beginners.
Over the years, brokers have come to realize that many traders tend to opt for the standard account and as such, they have made improvements to the features of their respective standard accounts to attract more traders.
Some of the brokers offering much-improved versions of the standard account are Exness and FP Markets. Exness is a multi-regulated forex broker that is based in Cyprus and offers competitive trading fees and spreads from 2008. On the other hand, FP Markets has been operating since 2005 with its headquarters in Australia. Similar to Exness, it is also well-regulated and provides traders with a host of excellent trading tools to help them maximize their trading styles.
But in terms of standard accounts, is Exness better than FP Markets? Yes, it is, especially in relation to deposit requirements, spreads, and leverage. Let's delve into the discussion below to elaborate that statement.
Exness Standard Account
The standard account offered by Exness is in two forms: Standard and Standard Cent accounts. Both of them have similar features in that the minimum deposit is $10 and the trading platforms offered are MetaTrader 4 and MetaTrader 5. On the MT5 trading platform, the leverage is 1:Unlimited with no condition. MT4 users can also opt to trade with 1:Unlimited leverage but this comes with certain conditions.
Unlimited leverage refers to the highest leverage setting which is something Exness traders can take advantage of. However, it is not a default setting and it is usually recommended for experienced traders who are interested in testing out various strategies or intend to open bigger trading positions. These conditions will help reduce risk exposure while allowing experienced traders the opportunity to capitalize on this exclusive feature:
- The equity of the trading account must be less than $1,000.
- There must be a minimum of 10 orders (excluding pending orders) closed with a minimum value of 5 lots.
Once the above conditions are met, traders will find the option for unlimited leverage showing up in the leverage settings of their standard account. However, it should be noted that once the unlimited leverage becomes active, the maximum available leverage changes automatically once the equity levels of a standard trading account rise to specific levels, and this is shown in the table below.
| Equity | Maximum leverage available |
| $0 – $999.99 | 1:Unlimited (if qualified) but the leverage by default is 1:2000 |
| $1,000 – $4,999.99 | 1:2000 |
| $5,000 – $29,999.99 | 1:1000 |
| $30,000 and above | 1:500 |
It should be noted that among the trading instruments offered by Exness on its standard account, there are some that the unlimited leverage does not apply and they include stocks, indices, exotic currency pairs, stocks, and cryptocurrencies. This is because said instruments have fixed margin requirements which makes it impossible for them to be affected by unlimited leverage.
In terms of trading fees, there are no commissions charged on trades while the spread starts from 0.3 pips. Traders can also open multiple accounts as many as 100 with a minimum position size from 0.01 lots up to 20-200 lots, depending on which time of the day the orders are initiated.
The type of order execution is market execution which means the orders initiated by traders are executed at the market price dictated by liquidity providers without any additional fees by the broker. The standard account offered by Exness also features a stop-out which is set at 0% to protect traders from pushing their account balance into negative. It can also be referred to as negative balance protection and the broker reserves the right to revoke this negative balance protection if the trader is found to be abusing this feature.
The margin call for the Exness standard account is set at 60%. There are dynamic margin requirements that apply to most of the financial instruments available on the standard account and these requirements change with the leverage – an increase in the leverage leads to lower margin requirements and vice versa. However, the margin requirements can be affected by factors such as the release of economic news.
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.
Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.
FP Markets Standard Account
The FP Markets standard account is available in MT4 and MT5 (similar to Exness) with the traders having the option of choosing the one that suits them better. Irrespective of the platform, this broker's standard account has no commissions charged on the trades executed while traders also have access to tight spreads starting from 1.0 pips.
The leverage is flexible with traders allowed to gain access to leverage as high as 1:500. There are over 70 financial instruments to choose from including forex, commodities, and indices. The minimum deposit requirement is quite affordable at AUD100 or its corresponding amount in other currencies. The account also features lightning-fast executions which are possible through a fiber optic connection that the broker has to a dedicated top-notch server in the NY4 facility.
If the traders open an MT4 standard account in FP Markets, they will have access to some of the most popular forex pairs (EUR/USD, GBP/USD, USD/JPY, and USD/CHF) or choose from a group of other base currencies including the Australian Dollar (AUD). There are also advanced charting tools on the platform while traders can use Expert Advisors (EA) to capitalize on the rapid execution speed offered by FP Markets. There is also a host of automated trading options and the latest news on the forex market.
The FP Markets MT5 standard account is more suitable for experienced traders as they are in a position to take maximum advantage of the wide range of technical analysis tools. It allows for customization of the platform to suit the strategy or style employed by the trader.
Keeping positions open overnight won't result in the overnight/rollover fee reducing your earnings, so you don't have to worry about it. FP Markets offers the most competitive swap rates in the industry by introducing Swaps Points in the form of a live swap rates list on the MT4 and MT5 platforms. Here are some examples:
- ACWI: -5.00 for long positions and -2.50 for short positions.
- ADAUSD: -20.00 for long positions and -20.00 for short positions.
- AGG: -5.00 for long positions and -2.50 for short positions.
Determining the Better Standard Account
This is subjective when it comes to determining the better standard account between Exness and FP Markets since both are reputable brokers offering the account on both MT4 and MT5 trading platforms. Also, they both provide rapid execution of orders at market price which enables traders to minimize trading fees and maximize trading opportunities.
Some traders might prefer the standard account from FP Markets to Exness because they feel the trading tools at FP Markets are more suitable for them than those at Exness, while others might prefer Exness due to its lower minimum deposit requirement compared to FP Markets. The available leverage might be another factor that traders consider to determine their choice of standard account.
| Standard Account Features | Exness | FP Markets |
| 💲Minimum Deposit | $10 | AUD100 |
| 💻Platforms | MT4 and MT5 | MT4 and MT5 |
| 🔢Spreads | From 0.3 pips | From 1.0 pips |
| 💸Commissions | ❌ | ❌ |
| ⚖Leverage | Up to 1:Unlimited | Up to 1:500 |
| 🎲Extras |
|
|
Overall, Exness standard account might be considered to be better than that of FP Markets, especially for its low minimum deposit requirement, tighter spread starting from 0.3 pips and higher leverage.
Exness standard account is not only comparable to FP Markets but also to other popular Australian brokers like IC Markets. To find out further, check out IC Markets Vs Exness Standard Account Comparison.
41 Comments
Apr 28 2023
Since I'm new here, I've been doing some research and came across an article that compares Exness and FP Markets' standard accounts. While both brokers offer similar features, I'm particularly drawn to Exness due to its higher leverage compared to FP Markets. In addition, I noticed that Exness's standard account includes a stop-out feature, which is set at 0% to protect traders from having a negative account balance.
Now, I'm not exactly sure what this stop-out feature means, so I was hoping someone could provide a simpler explanation. From what I understand, the stop-out feature is a safeguard that automatically closes trades when the account equity falls below a certain level. In this case, it's set at 0%, which means that Exness will close any open positions if the account balance reaches zero.
This can be helpful for traders who are using high leverage, as it can prevent them from losing more money than they have in their account. However, I'm still a bit unclear on how this works in practice and how it affects trading. Could someone please provide more details on this feature and how it works?
Apr 30 2023
Basically, a stop-out level is a point at which a broker will automatically close out a trader's open positions if they don't have enough money in their account. It's like a safety net to prevent traders from losing more money than they have.
In the case of Exness's standard account, they have a stop-out feature set at 0%, which means that if a trader's account balance falls to zero, all their open positions will be automatically closed out. This can be helpful for traders who are using high leverage, as it can stop them from losing more money than they actually have in their account.
However, the downside is that if the stop-out feature kicks in and closes out a trader's positions, they might miss out on potential profits if the market moves in their favor. Also, if traders rely too much on leverage, they may find that their positions are closed out more often, which can mess up their overall trading strategy.
Overall, the stop-out feature is there to protect traders, but it's important to understand how it works and to use it responsibly.
Apr 28 2023
Okay, I understand now! If I want to assess whether a broker's account is good or not, I need to consider several factors, including the minimum deposit, leverage, and the fees such as spread and commission. Speaking of leverage, it's a unique case that Exness offers unlimited leverage. The lower the required deposit, the higher the leverage you can get. However, this doesn't seem fair to higher deposit traders.
I'm curious about the benefits of having unlimited leverage. Could you please explain this to me?
Apr 29 2023
In my mind, unlimited leverage means that you can open positions with a much higher value than the amount of money you have in your account. This can lead to potentially higher profits, but also higher losses if the trade doesn't go in your favor.
It's important to note that while high leverage can magnify potential gains, it also magnifies potential losses. Therefore, it's crucial to have a solid risk management strategy in place when trading with high leverage.
As for why Exness offers unlimited leverage, it's likely because they want to attract traders who are looking for high-risk, high-reward trading opportunities. However, it's important to carefully consider the risks involved before deciding to trade with unlimited leverage.
Apr 30 2023
Regarding functionality, both unlimited leverage and higher leverage work in a similar way. They enable you to open larger positions than your account balance would typically allow. However, the primary difference is that with higher leverage, there's a cap on the amount of leverage you can use, whereas with unlimited leverage, there isn't.
Nevertheless, it's essential to limit your leverage and use a robust risk management strategy regardless of whether you have unlimited or higher leverage to protect your funds. Keep in mind that both types of leverage can increase potential profits and losses, so it's crucial to use them with care and I suggest using "numbered" leverage than unlimited leverage.
May 2 2023
Hey, have you heard about FP Markets' minimum deposit being only AUD100? It's pretty interesting because most brokers have higher minimum deposit requirements. I was wondering, what advantages could we get from using AUD currency instead of USD with FP Markets' standard account? I mean, it's not every day you come across a broker with such a low minimum deposit, so I'm curious about what other perks we might be able to enjoy with FP Markets. Hope there is an explanation about that, thank you!
May 3 2023
If you are an Australia trader, there are no significant advantages to using AUD over USD, and it's always a good idea to consider using the currency of the country where the broker is based, especially if you're planning to make regular deposits and withdrawals. By using AUD in FP Markets, you'll be able to avoid any additional currency conversion fees that may apply when depositing or withdrawing funds in USD, and you'll also be able to save money on exchange rate fluctuations. Additionally, some traders may prefer to use their local currency as it's easier to understand the value of their trades and profits in their own currency. Overall, whether you choose to use AUD or USD, it's important to make sure you're comfortable with the minimum deposit amount and account features before opening an account with FP Markets.
May 4 2023
In my mind, I think it is better for traders to use USD as their base currency when trading in the forex market. This is because the US dollar is widely accepted and used as the main currency for global trade and commerce. However, choosing a different currency like AUD in FP Markets can offer some benefits as well. For example, if you are based in Australia and transact in AUD, using the same currency in your trading account can save you conversion fees and provide a clearer picture of your profits and losses. But if you are not a trader from Australia, you can use USD as your currency!
May 3 2023
I'm curious about the impact of higher leverage on margin requirements to open a position in Forex trading. For example, if I have $100 and use Exness' leverage of 1:2000, how much margin would be needed to open a 1 lot position? And if I have $100 but use the 1:500 leverage offered by FP Markets, how much money would be required to open the same position?
I'm also wondering if there is a relationship between higher leverage and lower deposit requirements. In addition, I'm not sure which leverage is safer or more suitable for beginners like me between 1:2000 and 1:500. Can you explain the differences and help me choose the best option?
May 4 2023
Leverage is a tool that can magnify your profits, but it can also increase your losses, so it's important to use it wisely. If you have $100 and use Exness' 1:2000 leverage, then the margin required to open 1 lot position would be $0.05. On the other hand, if you use FP Market's 1:500 leverage, you would need $200 to open 1 lot position.
As for the connection between higher leverage and lower deposit, it's true that brokers offering higher leverage typically require lower deposits to open trades. However, it's important to remember that higher leverage also means higher risk. So, if you're a beginner, it's generally recommended to start with a lower leverage, such as 1:100 or 1:200, and gradually increase it as you gain more experience and knowledge. Ultimately, the decision on which leverage to use depends on your personal risk tolerance, trading strategy, and experience level.
May 16 2023
Hey there! I'm interested to learn more about Exness because it seems uncommon for a broker to offer unlimited leverage. In my understanding, unlimited means we can set the leverage according to our preference, which gives us more control over our money management and risk management.
By the way, in the article, it mentioned that Exness is a forex broker based in Cyprus that is regulated by multiple authorities and has been operating since 2008. I'd like to know how safe it is to trade with a multi-regulated broker compared to a broker that has only one regulation. Thank you!
May 17 2023
When it comes to the safety of trading, bro, having a multi-regulated broker like Exness can offer some advantages. Having multiple regulations means that the broker is overseen by various reputable authorities, which adds an extra layer of scrutiny and accountability. It shows that the broker operates in compliance with different regulatory standards, increasing transparency and protecting the interests of traders.
On the other hand, brokers with only one regulation may still be reliable, but they may not undergo the same level of oversight as multi-regulated ones. So, trading with a multi-regulated broker like Exness can provide you with more peace of mind, knowing that your funds and trading activities are subject to rigorous supervision. It's like having multiple watchdogs keeping an eye on things, ensuring a safer trading environment.
May 21 2023
If you ask me, bro, I gotta say Exness is super safe. First of all, being a multi-regulated broker means they can adapt and comply with regulations in many countries. That's a big plus, man. And let's not forget about their long-standing presence since 2008. That's a solid amount of time in the forex game, bro. It shows they know what they're doing and can handle the ups and downs of the market.
Their track record speaks for itself, bro. They've proven their stability and reliability by staying strong through market fluctuations and tough economic times. So, when you combine their multi-regulated status and their long history, it definitely adds to the overall safety and trustworthiness of trading with Exness.
But hey, I don't want to discredit brokers with just one regulation, man. If they've been around for a long time and have established themselves, you can still consider them safe to trade with. It's all about looking at the whole picture, bro.
May 19 2023
When starting out as a beginner trader, what are the key things to keep in mind regarding the trading instruments offered by Exness on their standard account? I heard that while unlimited leverage applies to many instruments, there are some exceptions like stocks, indices, exotic currency pairs, and cryptocurrencies. Can you shed some light on why these instruments have fixed margin requirements and how this limitation can impact beginners' trading strategies and risk management? Understanding these factors can help beginners make more informed decisions when choosing the instruments to trade on Exness' standard account. Thanks for your insights!
May 19 2023
Hey there! I came across some interesting information about Exness standard account and wanted to share it with you. It appears that the type of order execution used in Exness standard account is market execution. This execution method entails that when traders place orders, they are executed at the prevailing market price determined by liquidity providers. The advantage of market execution is that there are no additional fees imposed by the broker for executing the trades.
However, I was wondering, since market execution is used, does that mean we cannot place pending orders in the Exness Standard account? Pending orders, such as limit orders and stop orders, are commonly used by traders as a means to enter the market at specific price levels and as a protective measure against potential adverse price movements. They can serve as a shield against requotes and slippage, which are common concerns in fast-moving markets.
I find it interesting that some brokers do not offer pending orders in their standard accounts. I wonder why this is the case. Is it because pending orders are considered more advanced trading tools and may not be suitable for beginners? Or are there other reasons behind this decision? I believe understanding the rationale behind such choices can provide insights into the trading experience offered by different brokers and help us make informed decisions. Thank you!
May 21 2023
Hey there! So, when it comes to Exness standard account, they mainly use market execution for order execution. It means that your orders are executed at the market price without any extra fees from the broker. Now, regarding pending orders, here's the deal: you can actually place pending orders in the Exness standard account! Yep, they got you covered.
But, you might wonder why some brokers don't offer pending orders in their standard accounts. Well, the thing is, different brokers have different approaches. Some brokers, especially those catering to newbie traders or keeping things simple, may limit the use of pending orders in certain account types. They want to make sure that beginners have a smooth and less overwhelming trading experience.
You know what? Pending orders can be pretty handy. They act like shields against annoying things like requotes and slippage. However, using pending orders requires a solid understanding of the market and technical analysis. That's why brokers may provide educational resources and guidance to help traders grasp the concept before diving into the world of pending orders. (read : Understanding Order Execution Types on Exness )
May 22 2023
In the article, it is mentioned that the overall quality of Exness' standard account may be considered better than that of FP Markets, especially due to its low minimum deposit requirement, tighter spread starting from 0.3 pips, and higher leverage. As a scalper, I find these features appealing, particularly the low spread without any commission and the ability to adjust the leverage according to my preferences.
However, I have concerns specifically related to the execution speed in Exness. Being a scalper, fast execution is crucial for my trading strategy. Therefore, I would like to know if Exness can provide the necessary speed of execution to effectively accommodate scalpers like myself.
To sum it up, considering the advantages of Exness' standard account for scalping, my main question revolves around whether Exness can deliver the required speed of execution to meet the needs of scalpers.
May 26 2023
@Diego: Hey there! when it comes to execution speed, Exness understands the needs of scalpers like you who rely on quick order processing. They aim to offer fast execution speeds to accommodate different trading strategies. They know that as a scalper, you need to take advantage of those small price movements in the market.
To ensure speedy execution, Exness employs advanced technology and a robust infrastructure. They use things like low-latency connections and high-speed servers to minimizes and provide competitive response times for traders.
However, it's important to note that the actual execution speed can vary depending on factors like market conditions, your internet connection, and the trading platform you use. So, keep in mind that some traders might experience faster execution speeds than others, depending on where they are located or their internet service provider.
May 27 2023
Could you please provide a detailed explanation of how the negative balance protection operates within Exness' standard account? I'm interested in understanding the concept of negative balance protection and how it functions to ensure that traders don't end up with a negative account balance. It would be great if you could shed light on the mechanisms that Exness has in place to protect traders from such situations.
Furthermore, I'm curious to know under what circumstances the broker reserves the right to revoke the negative balance protection. Are there specific conditions or instances where this protection may be withdrawn? It would be valuable to gain insights into Exness' policies and guidelines regarding the utilization of negative balance protection, as well as the consequences that traders may face if they are found to be abusing this feature.
Jun 8 2023
@Harry: Negative balance protection is like a safety net that Exness provides for traders to prevent them from going into debt or owing money to the broker. With this feature, even if your trades go south and your losses exceed your account balance, Exness will step in and cover those losses so that your account doesn't end up in the red.
In Exness' standard account, if your account balance reaches zero or goes negative, the negative balance protection kicks in and automatically closes out your trades to stop the losses from piling up. It's a way of keeping you from ending up in a situation where you owe money to the broker. (also read : All You Need to Know About Negative Balance Protection)
The main idea behind negative balance protection is to give you some peace of mind and protect you from catastrophic losses. Just make sure to go through Exness' policies and reach out to their customer support if you have any specific questions about how negative balance protection works in their standard account. They'll be able to provide more clarity and address any concerns you may have.
Jun 15 2023
In addition to the popular forex pairs like EUR/USD, GBP/USD, USD/JPY, and USD/CHF, are there any other currency pairs available in FP Markets' MT4 standard account that offer lower spreads? I'm getting a bit bored with the usual pairs and looking for some exciting alternatives. It would be awesome to explore different currency pairs that not only provide lower spreads but also offer unique trading opportunities. So, are there any lesser-known or exotic currency pairs that FP Markets offers with competitive spreads? I'm ready to spice up my trading game and discover new possibilities.
Jun 16 2023
@Hans: Looking to spice up your trading game and explore new possibilities beyond the usual forex pairs? Well, you're in luck with FP Markets' MT4 standard account! In addition to popular pairs like EUR/USD and GBP/USD, they offer a range of exotic currency pairs with competitive spreads. These lesser-known pairs involve currencies from emerging economies or countries with smaller financial markets, providing unique trading opportunities. Think USD/ZAR, USD/TRY, USD/MXN, and more. Not only can these exotic pairs offer lower spreads, but they also bring diversity to your portfolio. Just remember to stay informed about their specific characteristics, as liquidity and market conditions may differ from major pairs.
Jul 1 2023
Hi Man, Exness Broker seems perfect for novice traders because the minimum deposit is quite low for a standard account, only $10, compared to FP market brokers. I also feel that for the spreads offered, Exness offers tighter and lower spreads, that's why I trust this broker.
As a trader who uses pending orders to quickly execute trades without waiting for the chart to reach the desired level, I was wondering if the Exness mobile app supports this type of order execution. I don't always have time to monitor my trades, so using pending orders saves me a lot of time. Can you please tell me if the Exness mobile app offers this type of order execution or only market execution as described in this article?
Jul 2 2023
No worries, mate! The Exness mobile app is a bloody beauty because it supports pending orders, just like the desktop version. This means you can place orders at specific price levels instead of relying on the current market price. You can choose from different types of pending orders, such as buy limit, sell limit, buy stop, and sell stop orders. The best part is that once you've set a pending order, it'll be executed automatically when the price reaches your specified level. And if you need to change or cancel your pending order, you can do that with ease from the app.
So there you have it, mate - the Exness mobile app offers different types of orders, including pending orders, to help you manage your trades on the go. But if you're not a fan of the Exness app, you can always use the MetaTrader 5mobile version. However, in my opinion, the Exness mobile app has more functions that are helpful for Exness traders compared to the MetaTrader 5 mobile version. Cheers!
Jul 3 2023
I am also a full-time worker, and I gotta tell you, the Exness mobile app is an absolute lifesaver when it comes to trading forex. It's super user-friendly and I can manage my trades from absolutely anywhere, at any time. Whether I'm commuting to work or taking a lunch break, I can whip out my phone and check on my trades in no time.
The app's advanced trading tools are really something special. The market watch feature lets me keep track of different financial instruments and monitor their performance in real time. Plus, with one-click trading, I can execute trades in a flash and get back to my day-to-day hustle.
Price alerts are another really handy feature for full-time workers like me. I can set up notifications on my phone, so if a currency pair reaches a certain price level, I'll know about it straight away. That way, I can keep tabs on the markets even when I'm not actively trading, and make informed decisions about my trades.
Honestly, the Exness mobile app has been a total game-changer for me when it comes to forex trading. It's just so darn convenient, easy to use, and has all the tools and features I need to trade successfully, even with my busy schedule. But hey, don't just take my word for it - give it a spin for yourself by opening up a demo account on Exness and see how it goes for ya!
Jul 14 2023
Do you get to trade exotic currency pairs on Exness? I noticed they offer the Standard and Standard Cent accounts, with a low minimum deposit of $10 and compatibility with popular trading platforms like MetaTrader 4 and MetaTrader 5. What caught my attention is the leverage they offer, especially on the MT5 platform, where it can go up to 1:Unlimited without any specific conditions. That sounds pretty exciting for experienced traders who want to test out different strategies or take larger trading positions. But here's the thing: I'm curious if Exness also provides exotic currency pairs as part of their trading options. It would be amazing to explore the possibilities of trading with those unique and potentially high-growth pairs. So, are exotic currency pairs available on Exness, or do they focus mainly on the more commonly traded currency pairs?
Oct 22 2023
@Dorska: Let me answer your question! YES, Exness offers a variety of trading options, including the Standard and Standard Cent accounts, with a low minimum deposit requirement of just $10. They are compatible with popular trading platforms like MetaTrader 4 and MetaTrader 5, making them appealing to a wide range of traders. What caught your attention is the leverage they provide, especially on the MT5 platform, where it can go up to 1:Unlimited without any specific conditions. This flexibility can be quite exciting for experienced traders looking to test different strategies or take larger positions.
Now, regarding exotic currency pairs, Exness typically includes them in their trading options. Exotic currency pairs involve currencies from smaller or less commonly traded economies. While the specific exotic pairs available may vary, Exness generally caters to the diverse preferences of traders, allowing them to explore these unique and potentially high-growth currency pairs. If you're interested in trading with exotic pairs, Exness is likely to offer you a selection to diversify your portfolio and explore new opportunities. To get the most up-to-date information on the exotic pairs they currently offer, it's a good idea to check their available currency pairs list.
Jul 16 2023
Hey, I have to say that I really dig Exness as a trading platform. I mean, they have some killer features that I'm really tempted to, especially in terms of their leverage, which is actually higher than what's allowed in my own country, the US.
So after reading this article, I decided to give their demo account a try. I trained with him for several months and finally felt ready to open a live account. I followed all the steps outlined in the article, but when I tried to open a live account, it was rejected. I was disappointed and finally contacted Exness customer support.
They explained to me that they do not accept US traders. I was a bit confused because they let me open a demo account in the first place, but didn't let me open a live account. Do you know why this is? What's the problem with Exness not accepting US traders? Is FP Markets also like that guys?
Jul 17 2023
Hey bros! Too bad you have experience with Exness. So here's the deal with Exness not accepting US traders. The thing is, Exness is a global brokerage company, but they have certain regulatory and policy limitations. One of those limitations is that they do not accept clients from the United States.
Now, you may be wondering why they let you open a demo account. Well, demo accounts are often available to traders all over the world, regardless of their location. This is a way for traders to get a feel for the platform and test their strategies without risking real money. But when opening a live account, Exness must comply with the regulations set by the authorities in the countries where they operate. Exness has licenses in various international regions such as SFSA (Seychelles), CBCS (Curaçao), FSC (BVI), FSCA (SA), CySEC (Cyprus), and FCA (UK). unfortunately, it's not all in the US territory, meaning they can't accept traders from the US.
For the FP Markets broker, the check method is the same, or you can contact the broker directly.
Jul 18 2023
That's right, not many brokers accept US traders. According to the articles I read, it is known that getting a US license is very difficult because the requirements are quite strict. One of the main reasons why forex brokers do not accept US clients is because of the strict regulations imposed by the US government. The US government has implemented a number of regulations regarding forex brokers, including the Dodd-Frank Act which was introduced in 2010. This law requires forex brokers to register with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) which can be a lengthy and expensive process.
In addition, forex brokers are also required to meet a number of other requirements, including maintaining minimum capital requirements and submitting periodic financial reports to the authorities. These regulations can be difficult for forex brokers to comply with, which is why many prefer not to accept US clients.
Well despite the many rules in the US, it is important to remember that these regulations are designed to protect traders and ensure that the forex market operates fairly and transparently. As a result, it is important to choose a regulated and trustworthy forex broker, even if they do not accept US clients. Yeah, even though Exness Broker can't penetrate the US market, it can't be denied that it is a good broker. Exness and FP Markets are highly regulated brokers with a good reputation. The companies are recognized globally and offer good trading conditions for professional or regular traders. these brokers have one of the best and most good study and research materials for trading EAs.
However, you still need an account that has US regulations, you have to read this (Forex Brokers Offering Us Clients)
Jul 22 2023
Can I switch my MT4 account into an MT5 account if I become an experienced trader with FP Markets? I've been using an MT4 standard account with access to popular forex pairs and advanced charting tools, but now I'm interested in the technical analysis tools available on the MT5 platform. As an experienced trader, I believe I could take maximum advantage of the wide range of technical analysis tools and would like to customize the platform to suit my trading strategy and style. Is it possible to make the switch to the FP Markets MT5 standard account, and what steps do I need to take to do so? Thank you for your assistance!
Jul 23 2023
Sadly, you cannot do that. The account itself cannot be directly switched from MT4 to MT5 or vice versa. MT4 and MT5 are two different trading platforms with distinct features and functionalities, and they are not interchangeable.
If you have been using an MT4 account and wish to start trading on the MT5 platform, you would need to open a new MT5 trading account with your broker. This means you'll have separate accounts on each platform, and you cannot transfer your trading history, balance, or any other account-related data from one platform to the other.
Each account type (MT4 or MT5) operates independently, and you would need to manage and trade on them separately. If you want to use both platforms simultaneously, you can open and trade with two different accounts, one on MT4 and one on MT5.
Jul 24 2023
Absolutely! You're right! Switching from MT4 to MT5 or vice versa is indeed not a simple process due to the different programming languages used by the two platforms.
MT4 uses MQL4 (MetaQuotes Language 4), while MT5 uses MQL5 (MetaQuotes Language 5). This language difference means that Expert Advisors (EAs) and indicators developed for one platform are not directly compatible with the other, and the same goes for the trading account too!
So, if you want to switch from MT4 to MT5 or use your existing EAs and indicators on the other platform, you'll likely need to re-code or adapt them to the new language. Additionally, for the trading account, you'll need to open a new account specifically for the platform you want to use.
This compatibility issue makes it crucial for traders to carefully consider their choice of platform right from the beginning. If you have specific EAs or indicators that you rely on and they're only available on one platform, that may heavily influence your decision between MT4 and MT5.
Jul 22 2023
Why does the equity with high leverage become lower in the context of Exness's unlimited leverage feature? I understand that unlimited leverage is offered to experienced traders who wish to test various strategies or open larger trading positions, while simultaneously reducing risk exposure. To qualify for this feature, the equity of the trading account must be less than $1,000, and a minimum of 10 orders (excluding pending orders) must be closed with a minimum value of 5 lots. Once these conditions are met, traders will see the option for unlimited leverage in the leverage settings of their standard account.
However, it's worth noting that once unlimited leverage becomes active, the maximum available leverage changes automatically as the equity levels of a standard trading account rise to specific levels. For example, if the equity is between $0 and $999.99, the maximum leverage becomes 1:Unlimited (if qualified), but the default leverage remains at 1:2000. As the equity increases to $1,000 - $4,999.99, the maximum leverage becomes 1:2000, and so on. Can you explain why the equity levels impact the maximum leverage available, and how this mechanism works in practice?
Jul 24 2023
Alright, let me break it down for you! It is simple things! The whole deal with the leverage and equity stuff is all about keeping things safe and sound. They don't want people with big accounts going all-in and taking crazy risks. So, to maintain a chill and responsible trading vibe for everyone, they adjust the leverage based on your account's equity.
Unlimited leverage sounds cool, right? But it comes with some rules to keep things in check. It's like finding that perfect balance between having fun and managing risks like a pro. So, always remember to play it smart, keep a close eye on your leverage, and rock the trading game like a boss! Happy trading, my friend
Aug 5 2023
Hello everyone! It appears that Exness offers a solid platform. While they provide a somewhat limited selection of instruments, approximately 200 compared to FP Market's 70, they do offer a standard deal for novice traders called the Standard and Standard Cent accounts, with a relatively low minimum deposit requirement of just $10. However, what's causing me some confusion is their offering of two trading platforms, namely MetaTrader 4 and MetaTrader 5.
I'm in a dilemma about which platform to choose, as in my view, both platforms have their unique appeal. MetaTrader 4 boasts a user-friendly interface with advanced features, while MT5 offers a wider array of advanced tools, making it better suited for experienced traders.
Even though I can't be considered a complete beginner in trading, I'm still grappling with the decision between these two platforms. Besides, the offered instruments are similar, and the number of available accounts isn't significantly different either. Moreover, market execution is both easy and instantaneous, depending on the chosen account type. So, I'm wondering, is it possible to open accounts on both platforms simultaneously (MT4 and MT5)? Because making a choice is proving to be quite challenging for me.
Aug 7 2023
Actually, I used to face a similar dilemma—deciding which trading platform to open. Both platforms come with their own set of advantages and disadvantages. MetaTrader 5 is the more advanced 5th generation trading platform developed by the trading software giant, MetaQuotes Software Corp. On the other hand, MetaTrader 4 is the upgraded version of MetaTrader 4, offering additional features and tools like new order types and customizable time frames.
However, it's important to note that if you open a MetaTrader 4 account, you won't be able to access MetaTrader 5 with your MT4 credentials, and vice versa. If you wish to have accounts for both MT4 and MT5, you'll need to open separate trading accounts for each.
In my opinion, when deciding which account suits you best, it's crucial to consider other factors as well if you want to be profitable in trading. Don't solely focus on the advantages of each platform; instead, align your choice with your specific needs. Nonetheless, I've noticed that many traders still prefer the MT4 platform. One of the reasons is its user-friendly nature and its adaptability to a wide range of technical indicators created in the MQL4 programming language.
A friend of mine mentioned that he's a trader with Exness, a broker known for its fast and straightforward market execution. Additionally, they offer speedy deposit and withdrawal processes compared to other brokers. Consequently, I'm quite intrigued by Exness and keen to explore the features and services it provides on the MT4 platform.
Read more: MT4 or MT5, Which Platform Should You Choose?
Oct 24 2023
I've been following your blog all this while but I discovered that many people complain about brokers having several deposit options but limited withdrawal options.
Despite settling for the available withdrawal option,funds will not be credited to the client.
What factors did you think is responsible for this and what withdrawer option did you think is best,easier and sustainable for broker and client.
Oct 26 2023
Could you shed light on the unique attributes and advantages that differentiate the FP Markets MT5 standard account from the MT4 platform and how these attributes cater to the specific needs of seasoned traders? In particular, I'm keen to learn more about the advanced technical analysis tools and the flexibility to tailor the platform to accommodate various trading strategies and styles, as mentioned in the article. I find it intriguing that MT5 is deemed suitable for experienced traders, but I'm a tad puzzled about the specific trading strategies and styles these traders employ that make MT5 their preference. Do they rely on particular strategies, such as day trading or swing trading, and employ specific styles, like scalping or trend following, that align better with MT5's capabilities, and if so, what sets MT5 apart in this regard?
Mar 22 2024
Reposting from Victor, I share his sentiment about the frustration of many individuals who find brokers offering numerous deposit options but limited withdrawal options. Even after choosing a withdrawal method, clients often face delays in receiving their funds.
What do you think causes these delays, and which withdrawal option do you believe is optimal, convenient, and sustainable for both brokers and clients?
Mar 24 2024