Spread is an important factor that influence trader’s decision to choose a forex broker. So, “Is Exness spread good” is also the popular question that many traders want to know. Exness is very popular in Asia, especially in China, Thailand, Indonesia, Vietnam, Arabic countries,… In their latest report, there are 46,000 active traders and over $375 billions trading volume monthly. This number was audited by Deloitte, it is trusted report. So, Exness is the biggest retail forex broker on the world. Most of their clients are big traders who trade over $8 millions monthly. This is an impressive number. So, what make them growth very fast and why big traders prefer to trade in Exness? The answer is “low spread broker”
For retail forex brokers, Exness spread is very low. So, let me do a quick spread comparison here:
There are 3 types of account that we should do spread comparison.
1. Spread comparison of Cent accounts.
Cent account is the account for beginners. As usual, There isn’t difficult condition for opening Cent account such as: no minimum deposit requirement, low minimum trading volume, low order value, … As usual, common brokers will charge very high spread for Cent account. Because brokers have to spend the same resources to serve Cent traders but they get very low return because traders are beginners. But in Exness, they only charge from 0.3 pip for Cent accounts. Because their target customers are big traders, so, they don’t charge high spread for Cent account as other brokers. They want to position themself as low spread broker.
Actually, there are many big traders choose Cent account also. Because they trade by robots. These robots will open hundreds or thousands positions daily. That why they need smaller account as Cent. Read more Exness Cent account.
2. Spread comparison of regular accounts.
Regular account means the most popular account that most of traders choose. Regular account can be market maker or STP accounts. There are 2 regular account types in Exness: Mini and Classic accounts. Mini is more popular than Classic account because of lower requirements such as: minimum deposit is 1$, minimum position is 0.01 lot.
For these accounts, Exness only charges as low as from 0.1 pip. Actually, for EURUSD of instant execution, they charge around 0.7 pip. Other brokers charge from 0.9 – 3 pips per lot.
So, how much you have to pay per 1 pip? For EURUSD, you will pay 10$ per pip. So, if you trade in Exness, you can save a lot.
3. Spread comparison of ECN account.
Most of professional traders like ECN account because they think trading ECN is trading in real market. I don’t agree but let’s accept it here. In perfect conditions, there isn’t spread in ECN account. But actually, spread is still there but low. As usual, spread is from 0.xx to 0.0xx pip. This is acceptable spread. Because in volatile market, There isn’t broker can offer real zero spread.
Exness ECN spread is from 0.0 pip. Sometime, it’s zero spread. And they only charge $2.5 per lot. This is the lowest ECN charged commission in the market. Other brokers charge around 3 – 10$ per lot.
Moreover, Exness ECN trading conditions are good also. Their ECN account get quotes from 4 big different liquidity providers. So, there are less no-quote problems. Their quotes are better because they have more choices to get better quotes.
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