Exness Cent Account Review

Exness is a globally recognised and multi-regulated broker, popular for offering a diverse range of account types to suit various trading styles and experience levels. The broker has a total of 5 different trading accounts, which include two standard accounts and three professional accounts. 

Among these, the Exness Standard Cent Account stands out as a highly favoured option, particularly for new investors or those looking to test out new strategies. It allows traders to gain real market experience while keeping their risk levels low.

In this Exness Cent Account review, we will explore its core features, benefits, drawbacks, and provide a step-by-step guide on how to open one.

What is the Exness Cent Account?

The Exness Cent Account is a trading account where balances, profits, and losses are denominated in cents rather than dollars or other major currencies. This means that if a trader deposits $10 into their Exness Cent Account, the balance will appear as 1,000 cents. Additionally, it employs a micro-lot system, where the minimum trade size is 0.01 of a standard lot (1,000 units of the base currency). This unique feature allows traders to engage with the market in smaller positions, which helps in minimising risk.

Additionally, Exness offers this account with some of the most competitive spreads in the industry. The Standard Cent Account features spreads starting as low as 0.3 pips on major currency pairs, with no commission charged. Although this account type is subject to swap fees, a swap-free option is also available for eligible traders.

Users can access the account through a solid selection of platforms. These include MetaTrader 4, MetaTrader 5, the Exness Terminal, and the Exness Trade App. The execution model on this account is market execution.

While Exness provides access to a broad range of financial instruments, the Standard Cent account is limited to CFD trading on forex, metals, and cryptocurrencies. The account supports a maximum lot size of 200 and allows up to 1,000 open positions simultaneously.

Remember that Forex and CFDs available at Exness are leveraged products.
Their trading can result in the loss of your entire capital.

Advantages of the Exness Cent Account

• Low Minimum Deposit - Exness allows traders to open a Cent Account with a minimum deposit as low as $10. This makes it highly accessible for new traders or those with limited capital.
• Trading in Cents - Since everything is denominated in cents, the monetary value of each trade is significantly smaller.
• Competitive Spreads - The spreads offered on this account are highly competitive, starting from 0.3 pips. Additionally, there are no commission charges, contributing to lower trading costs.
• Advanced Trading Platforms - The Cent Account is fully compatible with popular platforms, including MetaTrader 4, MetaTrader 5, the Exness Terminal, and the Exness Trade App. These platforms provide a wide range of tools and features for trading.
• Swap-Free Option - A swap-free (Islamic) option is available for eligible clients observing Sharia law, eliminating overnight interest charges.

Potential Drawbacks of the Exness Cent Account

• Limited Financial Instruments - The Exness Standard Cent Account only offers CFDs on forex, metals, and cryptocurrencies. You will not be able to trade the other market products offered by Exness on this account.
• Limited Profit Potential - Since trades are denominated in cents and the lot sizes are smaller, the potential profits generated from trades are proportionally smaller.
• Not Ideal for High-Volume Trading - While suitable for trading newcomers and strategy testing, the Cent Account's structure is not designed for high-volume traders.

Who is the Exness Cent Account For?

While the Exness Cent account is available for all traders, it is particularly well-suited for specific trader profiles:

Trading Newcomers - The Exness Cent Account is ideal for aspiring traders looking to gain real-market experience with minimal financial risk. It allows newcomers to understand how the markets work, manage risk, and familiarise themselves with trading platforms while trading with small amounts.

Traders with Limited Funds - For individuals working with a smaller budget, the Exness Standard Cent Account offers a favourable entry point into the financial markets. By enabling trades in cents, it ensures that those with limited capital can still participate and manage positions effectively.

Strategy Testers - Seasoned traders who want to experiment with new strategies, Expert Advisors (EAs), or indicators in a live trading environment can benefit greatly from the Exness Standard Cent Account. It provides a low-cost way to test new approaches without risking significant capital.

How To Open an Exness Cent Account

Now that we understand what the Exness Cent account is, along with its pros and cons, the question that remains is, how does one open an Exness Cent account? Luckily, opening an Exness Cent Account is a straightforward process that typically takes just a few minutes. Here is a brief guideline to walk you through it:

Step 1: Visit the Exness Website

Begin by opening your browser and heading over to the official Exness website. On the homepage, click on the Register button located in the top-right corner to begin the account registration process.

Remember that Forex and CFDs available at Exness are leveraged products.
Their trading can result in the loss of your entire capital.

Step 2: Fill Out the Registration Form

You will be redirected to the Exness registration page. Here, you’ll be required to provide some basic information. This includes entering your country of residence and email address. You also have the option to enter a Partner code if you wish to register under a partner. You can use our Partner code here, which is i5i10zputd.

Before proceeding, tick the box to declare and confirm you are not a citizen or resident of the US (if you aren’t), then select Continue. This will create your Exness Personal Area. After the initial registration, Exness will send a verification email to the address you provided. Open the email and click on the verification link to confirm your email address. Then, proceed with setting up your account.

Step 3(a): Log In to Your Personal Area

After successfully creating your Personal Area, log in to it. Once inside, navigate to the My Accounts area.

Step 3(b): Initiate New Account Creation

Within the My Accounts area, select Open New Account to begin the process of setting up a new trading account. You’ll be presented with several account types and platform options. Select your preferred trading platform. Exness supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and Exness Terminal (its own proprietary platform).

From the list of account types, locate and click on the Standard Cent account. This is a crucial step for opening an Exness Cent Account. Once you find the Cent account, click Continue.

Step 4: Configure Your Cent Account Settings

On the next page, select Real as the type of account you want to create. You will then need to fill in your desired maximum leverage, select your preferred account currency, give your account a nickname for easy identification, and create a trading password. 

Your new Cent account will now appear in the My Accounts section. To begin trading, you’ll need to make a deposit. Since it’s a Cent account, even small deposits like the minimum of $10 will be reflected as 1,000 cents in your trading account, allowing you to trade with micro lots. 

Exness Credibility and Regulation

When selecting a broker, credibility is paramount. Exness boasts a strong regulatory framework, which is a crucial indicator of its trustworthiness. It operates under the regulation of several financial institutions. These include the FCA in the UK, the CySEC in Cyprus, the JSC in Jordan, the FSCA in South Africa, and the CMA in Kenya, among others. This multi-jurisdictional regulation ensures that Exness adheres to strict financial standards and offers a transparent trading environment.

Exness also maintains a strong reputation among traders, often receiving positive reviews online. On Trustpilot, it holds a rating of 4.6 out of 5 stars, based on over 13,400 reviews. On top of that, Exness handles over $4+ trillion in monthly trading volume, making it one of the largest brokers globally. This further solidifies Exness' position as a leading broker in the forex market.

Final Thoughts

The Exness Standard Cent Account is an excellent choice for both aspiring and experienced traders. Its unique denomination in cents, low minimum deposit, and competitive spreads provide real-market exposure with minimal risk. While it comes with limitations, these are minor considerations when weighed against its benefits for its target audience. 

Additionally, Exness’ strong regulatory framework and solid reputation further enhance its appeal to traders. Nonetheless, remember that trading involves a lot of risk, regardless of the account you use. Ensure you fully understand the risks involved and take appropriate measures to manage them.