Exness is a Forex broker, operating in the Forex-Market since 2008. The Exness spreads are the differences you can find between the buy price and the sell price of an instrument. On the other hand, the Exness comission are the percentage of Exness trade values, these ones are added to trades that are well-known, when there is an opening or a closing position in said trade.
The Exness spreads are going to differ according to the market conditions and the liquidity that is available in that moment for the instrument that you are going to be trade. The clients receive the Exness spreads and the Exness commission from the interbank network that can be as low as 0.2 pips
The spread in Exness broker, as it is in every Forex broker, is just the cost of each one of the transactions attained by the trader in the market. The cost of the spreads is something that can vary from broker to broker.
Something truly unique about Exness is that no commissions are paid for Forex trading in Cent*, Mini, and Classic accounts.
But, for Exness ECN account, commission is calculated according to the percentage of the volume of a trade operation based on a radio of 25 USD per each million USD of trading volume.
The Commissions in Exness are charged when a transaction is opened for both of the directions of the transaction.
The commission for Exness trading on commodities is 13 USD and 10 USD per 1 lot on Mini and Classic accounts, correspondingly.
The commission and the spreads are definitions that should not be confused.
Commissions are either fixed dollar amounts or percentage of trade values, these ones are added to trades that are established when there is an opening or a closing position in the moment of the trade.
Some firms and some brokers are going to charge only spreads and others only are going to charge commissions. In some weird cases firms may charge both, the complete sum of the commissions and spreads charges are going to be noted.
Now, clearly, you can find the two principal costs of trading that are spreads and commissions, and these traders should be establish from their broker what the spreads are if some tradable instrument offered by their firm.
What is a pip?
It’s the unit of dimension to express the change in value between one currency and another currency in the Forex market. It is also called Price interest point. A pip is defined as the fourth digit after the decimal.
Frequently, it’s the last decimal lace of quotation.
It can be translated as the smallest price move that can be given in an exchange percentage.
Exness is a Forex broker established in 2008.
Their company’s head office is located in Auckland / New Zealand under the name Exness (NZ) Ltd and is authorized and regulated by the FDR. This company also possess a branch in Cyprus, this one is authorized and regulated by the CySEC under USA law as Exness (CY) Ltd with a license number 178/12.
Exness is one of the best known brokers in the industry and it brings positive innovations to the trading world. The innovations include an Automatic Withdrawal System, which is exceptional and exclusive in the trading industry. One of the things you can do with this system is to have a guaranteed and quick access to the funds in the trading account.
The Exness broker client´s support platform is available in 13 different languages. Therefore, it doesn´t matter where you are from since you will always be able to get help in your native language.
You can access to the Exness system through a mobile platform. The lack of minimum deposits for basic Exness account types and no commissions for deposits and withdrawals make the services of Exness accessible to anybody who wants to start Forex trading.
Exness trading accounts
- Exness Mini Account: in the Mini account, you can have a Maximum Leverage = 1:2.000, minimum lot size = 0.01 (1k)
The Spread = from 0.3, order execution = Market execution/instant execution, minimum deposit: $0.00
- Exness Classic Account: in the classic account, you can have a Maximum Leverage of 1:2,000, minimum lot size = 0.1 (10k), Spread = from 0.1, order execution = Market execution/instant execution, minimum deposit: $2,000
- Exness ECN Account: Max. Leverage 1:200, minimum lot size = 0.01 (1k), Spread = from 0.0, order execution = Market execution, minimum deposit: $300
Types of spreads
- Variable spread: The variable spread changes in correlation with the market conditions. This kind of spread is generally low in times of market inactivity, but what happens is that during the volatile market these spread can expand to 50 or 60 pips (always having in mind that when there is market inactivity the spreads are in 1 or 2 pips).
- Fixed spread: this spread is set by some dealings companies for automatically traded accounts.
How do the spreads work?
Let’s say we had a USD bid price of 220.00 (the price at which the broker is willing to BUY the USD) and an ask price of 120.05 (that is the price at which the broker is willing to SELL the USD). In that case, the spread is equal to 0.05, or $0.0005, or 5 pips; that is the money that the broker makes.
Another thing to have in mind is that, in every broker, it’s important to take into account calculating the spreads because they’re going to depend on the type of account in which you are trading.
For instance, Mini accounts are normally associated with the higher spreads (which is clear). That happens when the broker needs to recompense the rationally small amount of the capital that is being traded with a higher spread, so as to make any of their profits.
But it is vital to know that in the foreign exchange market is all about the supply and demand, just like any other market.