Did you know that transaction fees are one of the important factors? Is the premise affecting your profits when trading Forex? So do you know how much Exness fees are? Exness is one of the most reputable and famous Forex exchanges in the world. With millions of customers participating in transactions from more than 120 countries. Exness offers customers many different account types, with different trading fees. In this article, EX Trading will introduce you to Exness trading fees. Same way to calculate and compare them with other Forex brokers. Let’s find out!
What are Exness trading fees?
As traders know. Transaction fees are indispensable on Forex exchanges in particular and Exness exchanges in general. Exness transaction fees are fees that customers must pay to Exness. When executing trading orders on the Forex and digital currency markets. Or trade commodities and other assets. As well as choosing Exness XAUUSD trading hours to enter orders.
Learn about Exness fees
Exchange Exness fees include the following main fees:
Exness Spread
Exness Spread is the difference between the buying price and selling price of a currency pair. Or some kind of asset. Spreads are calculated in pips or points. It depends on the account type, trading time, and market volatility. At Exness, spreads range from 0.0 pip
Spread is one of the important costs when trading Forex. Because it directly affects traders’ profits. There are two main types of spreads: fixed spreads and floating spreads.
Fixed spread
A type of spread that is predetermined and does not change with market fluctuations. Fixed spreads have the advantage of being predictable and stable. It is suitable for new or less experienced traders. However, fixed spreads also have disadvantages. Is usually higher than floating spreads. May be subject to correction during times of high volatility
Floating spread
This is a type of spread that continuously changes according to the evolution of currency pair prices. Floating spreads have the advantage of being usually lower than fixed spreads. When the market is stable and more accurately reflects the supply and demand situation of the market. However, floating spreads also have weaknesses. Is difficult to predict, volatile, and can spike during times of high volatility
Commission Fee
Exness fees are the fees that the Exness platform collects from customers. When they open or close a trade. Commission fees are calculated in US dollars. It only applies to certain account types, like Zero accounts. At Exness, the minimum commission fee is $7 per trading order
Swap Fees
Exness fees are the difference in interest rates of two currencies in a currency pair. When a customer holds an order overnight. Overnight fees are calculated in points. It can be negative or positive depending on the order type (buy or sell) and the currency pair. At Exness, overnight fees are calculated from 22:00 GMT+0, and can be viewed on the exchange’s website
Is Exness free overnight?
Exness has an overnight fee for trading orders held overnight. Exness fees products. The swap fee is the amount of interest added or deducted from the trader’s account. At 22:00 (GMT+0) on weekdays. Fees will be tripled on Wednesday or Friday (depending on the trading instrument). Overnight fees can be negative or positive depending on the order type (buy or sell) and the currency pair.
Products that are exempt from Exness overnight fees include:
- Code pair XAU/USD (included), Gold and US dollar translation
- Top digital cryptocurrencies include Bitcoin, Ethereum, Litecoin
- Most of the stocks that Exness offers
Exness deposit and withdrawal fees
Exness does not charge any Exness fees for traders’ deposits or withdrawals. This means traders can deposit and withdraw money easily. Fast and cost-effective transaction. However, payment systems (EPS) have their own transaction fees. Therefore, traders should learn more about the systems before trading. To avoid being surprised.
Additionally, intermediary banks and other withdrawal methods may charge transfer fees. Therefore, traders need to choose a deposit and withdrawal method that suits the conditions. Or your preferences and convenience.
See more: Open Exness Account: Latest guide for new traders
Evaluate the competitiveness of Exness fees
To evaluate the competitiveness of Exness fees. We will compare them with other exchanges. According to an article on the Compare Forex Brokers website:
Spread fees
Exness has quite competitive spread fees compared to other exchanges. But not the lowest.
For example, The spread fee for the EUR/USD pair is 0.1 pip for the Standard account. And 0.3 pip for the Professional account. While other exchanges’ charge spreads from 0 pip to 0.6 pip for this same currency pair.
Swap fees
Exness trading fees – swap fees are higher than other exchanges. Especially for currency pairs with high-interest rates.
For example, The swap fee for the USD/ZAR pair is -20.81 USD per lot purchased. And 18.81 USD per lot sold. While other exchanges charge swap fees from -10 USD to 10 USD for this same currency pair.
Commission fees
Exness does not charge commission fees for Standard accounts. But charge higher commission fees than other brokers for Professional accounts.
For example, The commission fee for the EUR/USD pair is 7 USD per lot traded. While other exchanges charge commissions from 3 USD to 6 USD for this same currency pair.
Should I participate in trading at Exness?
Exness is one of the safe and quality foreign exchange exchanges in the world. Exness was created in 2008 and is headquartered in Cyprus. Exness is regulated by two level 1 regulators. There are two level 2 regulators and four level 3 regulators. Exness has a high trust score of 97 out of 100. It is considered a competitor. Low-risk trading.
See more: What is Exness: Overview Review of Platform for Newbies
Some advantages of Exness exchange
- There are no deposit/withdrawal fees for traders
- There are many different deposit/withdrawal methods, including electronic payment systems and banks
- There is high leverage, up to 1:2000
- There are quite competitive spread fees. Starting from 0.01 pip for Standard accounts and from 0.3 pip for Professional accounts
- There are many account types and products for traders to choose from. Including Forex, metals, cryptocurrencies, stocks, indices and commodities
- There is 24/7 customer support via live chat, email, and phone
Some disadvantages of Exness exchange
- Higher swap fees compared to other exchanges. Especially for currency pairs with high-interest rates
- Higher commission fees than other brokers for Professional accounts
- There is no copy-trading or social trading feature
- There are no promotions or bonuses for traders
Conclude
We hope this article has helped traders better understand Exness fees. As well as the calculation of each type of transaction fee. If traders have any other questions. Traders can contact EX Trading support. To get your questions answered. Wishing everyone success in Exness trading.
3 frequently asked questions
Often new traders wonder about Exness fees. Below are 3 questions we often see and have compiled from many sources of information.
How to trade Exness as a trader?
If the trader has experience trading on other exchanges. Traders can apply their trading methods on Exness. Traders just need to know how to set up market orders. These are transactions made to buy or sell securities immediately according to market changes. There are two types of market orders: Buy and Sell. Traders can set up these orders on their trading platform. By double clicking on any instrument in the Price List and selecting Buy or Sell.
At Exness, are there any restrictions on trading methods?
At Exness, we place no restrictions on your trading methods. This method is called “technical evaluation and timing your trading method”. You can choose any method according to your preference. For example, scalping, hedging, martingale, and news trading.
How to start trading with Exness?
To start trading, traders need an Exness account and a trading account. Traders can register for an Exness account on our website Exness.com. Next, create a trading account in your Area. Traders also need to choose a trading platform that is suitable for themselves. Examples include Exness Trading Terminal, MetaTrader WebTerminal, or MetaTrader mobile app. After having a trading account and trading platform. Traders can make their first deposit to start trading.
