How to Open a Cent Account on Exness

Are you intrigued by the world of forex trading but hesitant to dive in headfirst with a significant investment? Exness has the perfect solution for cautious beginners and those looking to test the waters: cent accounts. In this comprehensive guide, we’ll walk you through the process of opening a cent account on Exness, highlighting the benefits, eligibility requirements, and the step-by-step account setup process.

What is a Cent Account?

A cent account, also known as a micro-lot account, is a type of forex trading account that allows you to trade in smaller lot sizes compared to standard accounts. With a cent account, you can trade in micro lots, which are typically 1/100th the size of a standard lot. This means that you can start trading with a much smaller investment, reducing your overall risk exposure.

Benefits of Opening a Cent Account on Exness

Exness’s cent accounts offer several advantages for both new and experienced traders:

1. Low Risk: By trading in micro lots, you can minimize your risk per trade, making it an ideal environment to learn and practice forex trading without the fear of substantial losses.
2. Skill Development: Cent accounts provide a platform to test and refine your trading strategies, experiment with different indicators, and gain hands-on experience in real market conditions.
3. Accessibility: With lower minimum deposit requirements, cent accounts make forex trading accessible to a wider range of individuals, regardless of their initial investment capital.
4. Real Market Exposure: Unlike demo accounts, cent accounts allow you to trade in live market conditions, giving you a realistic experience of the forex market dynamics.
5. Flexibility: Exness offers various cent account options, with support for popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), catering to different trading preferences.

Eligibility Requirements for Opening a Cent Account on Exness

To open a cent account on Exness, you need to meet the following criteria:

• Age: You must be at least 18 years old to open a trading account with Exness.
• Residence: Exness offers its services to residents of most countries worldwide. However, there may be certain restrictions based on your location. Check the Exness website for an updated list of supported countries.
• Identification: You will need to provide a valid government-issued ID, such as a passport or national ID card, for verification purposes during the account opening process.

Step-by-Step Guide: How to Open a Cent Account on Exness

Opening a cent account on Exness is a straightforward process that can be completed online in a few simple steps:

Step 1: Visit the Exness Website

Go to the official Exness website at https://www.exness.com/.

Step 2: Create a Personal Area (PA)

Click on the “Open New Account” button and select “Real Account.” You will be redirected to a page where you can create a new Personal Area (PA). The PA serves as your central hub for managing your Exness accounts.

Step 3: Select the Cent Account Type

During the PA creation process, Exness will present you with various account options. Look for the “Standard Cent” account type, which is specifically designed for trading with micro lots.

Step 4: Choose Your Trading Platform

Exness supports two popular trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Select the platform that aligns with your trading preferences and experience level.

Step 5: Set Your Account Leverage

Exness offers flexible leverage options for cent accounts. As a new trader, it’s advisable to start with lower leverage to minimize risk. You can adjust your leverage settings later as you gain more experience.

Step 6: Select Your Account Currency

Choose your preferred account currency from the available options. Keep in mind that you cannot change the account currency once the account is opened.

Step 7: Review and Submit Your Application

Carefully review your account details, including the account type, trading platform, leverage, and currency. If everything is correct, submit your application.

Step 8: Complete the Verification Process

After submitting your application, Exness will initiate a verification process to confirm your identity and residency. You will need to upload copies of your ID documents as part of this process.

Once your application is approved and your account is verified, you will receive a notification with your login details to access your new Exness cent account.

Funding Your Exness Cent Account

To start trading with your Exness cent account, you’ll need to fund it. Exness offers a variety of secure and convenient deposit methods, including:

• Bank transfers
• Credit/debit cards
• E-wallets (e.g., Skrill, Neteller)
• Cryptocurrencies

The minimum deposit amount varies depending on your chosen payment method. Check the Exness website for the most up-to-date information on deposit options and requirements.

Getting Started with Trading on Your Exness Cent Account

Now that your Exness cent account is funded, you’re ready to start trading. Here are some essential steps to get you started:

Familiarize Yourself with the Trading Platform

Take some time to explore your chosen trading platform (MT4 or MT5). Familiarize yourself with the layout, features, and tools available. Some key areas to focus on include:

• Market Watch: This window displays real-time quotes for various currency pairs and other tradable instruments.
• Charts: Use charts to analyze price movements and perform technical analysis.
• Trading Terminal: This section allows you to place orders, monitor open positions, and manage your account.

Practice with Demo Trading

Before diving into live trading with your cent account, consider practicing with a demo account first. Exness offers demo accounts that mimic real trading conditions but use virtual funds. This allows you to test your strategies and get comfortable with the platform without risking real money.

Start with Small Trades

When you’re ready to start live trading with your cent account, begin with small trade sizes. Micro lots allow you to trade with minimal risk, giving you the opportunity to gain experience and build confidence gradually.

Develop a Trading Plan

Create a well-defined trading plan that outlines your goals, risk management strategies, and entry/exit criteria. Stick to your plan and avoid impulsive decisions based on emotions.

Continuously Educate Yourself

The forex market is dynamic, and continuous learning is essential for long-term success. Take advantage of Exness’s educational resources, such as webinars, tutorials, and articles, to expand your knowledge and stay updated with market trends.

Risk Management Tips for Cent Account Trading

While cent accounts offer a low-risk environment, it’s still crucial to practice proper risk management. Here are some tips to keep in mind:

1. Use stop-loss orders to limit potential losses on each trade.
2. Avoid overexposing your account by keeping your total risk per trade to a small percentage of your account balance.
3. Don’t chase losses by increasing your trade sizes after a losing streak.
4. Maintain a balanced risk-reward ratio, aiming for potential rewards that outweigh the risk.
5. Regularly review and adjust your trading plan based on your performance and market conditions.

Conclusion

Opening a cent account on Exness is an excellent way to start your forex trading journey with minimal risk. By following the step-by-step guide outlined in this article, you can easily set up your account and begin trading with microlots.

Remember, success in forex trading requires patience, discipline, and continuous learning. Take advantage of Exness’s educational resources and practice responsible trading habits to maximize your chances of success.

With dedication and a well-structured approach, your Exness Cent account can serve as a valuable stepping stone towards building your confidence and skills in the exciting world of forex trading.