When considering forex brokers, understanding the available account types is crucial for aligning with your trading style and capital. This comprehensive guide delves into Exness vs FP Markets account types, offering a detailed comparison to help UK traders make an informed decision. Both brokers present compelling options, but their structures, costs, and features cater to different preferences.
Understanding Exness Account Types
Exness is known for its diverse range of account types, designed to accommodate various trading strategies, from beginners to high-volume professionals. Their offerings typically fall into two main categories: Standard accounts and Professional accounts.
#### Standard Accounts (Standard, Standard Cent)
* Standard Account: This is Exness's most popular account, offering market execution with no commission. Spreads are variable and generally competitive, starting from typical lows on major pairs. It requires a low minimum deposit, making it accessible for new traders. Leverage can be exceptionally high, up to unlimited under certain conditions, although UK regulated entities will have leverage capped in line with ESMA regulations.
* Standard Cent Account: Ideal for beginners or those testing new strategies with smaller capital. Trades are executed in cents, significantly reducing the risk exposure. All other features are similar to the Standard Account, including commission-free trading and competitive spreads.
#### Professional Accounts (Raw Spread, Zero, Pro)
These accounts are tailored for experienced traders, scalpers, and those employing Expert Advisors (EAs), focusing on tighter spreads and different commission structures.
* Raw Spread Account: Offers raw spreads, often starting from 0.0 pips on major pairs, coupled with a fixed commission per lot per side. This account is excellent for traders prioritising the absolute tightest spreads.
* Zero Account: Similar to the Raw Spread account, the Zero account guarantees zero spreads on the top 30 most popular instruments for 95% of the trading day, with a commission per lot per side. It's designed for traders who require predictability in their spread costs.
* Pro Account: This account boasts very low spreads with no commission, similar to the Standard account but with even tighter typical spreads. It's suited for day traders and scalpers who need fast execution and low trading costs without fixed commissions.
Understanding FP Markets Account Types
FP Markets offers a streamlined selection of account types, primarily focusing on two core options: Standard and Raw. Both accounts are designed to provide robust trading environments with competitive conditions.
#### Standard Account
* The Standard Account from FP Markets is a commission-free option with variable spreads. It's built for traders who prefer simplicity and all-inclusive pricing. Spreads are competitive, making it a good choice for swing traders and those who trade less frequently. The minimum deposit is accessible, and it supports a wide range of trading instruments.
#### Raw Account
* The Raw Account is designed for serious traders, scalpers, and those using EAs who demand the lowest possible spreads. It offers raw interbank spreads, often starting from 0.0 pips on major currency pairs, combined with a fixed commission per lot per side. This account type provides direct market access pricing, making it highly transparent and suitable for high-volume trading.
Exness vs FP Markets: Key Differences and Similarities
While both brokers offer competitive conditions, their approaches to account types differ. Exness provides a broader spectrum, potentially offering more niche solutions, especially with its Cent and Zero accounts. FP Markets, on the other hand, keeps its offering more concise, focusing on core Standard and Raw options that are highly effective for most traders.
Minimum deposits can vary significantly. Exness typically allows very low initial deposits for some of its accounts, enhancing accessibility. FP Markets also maintains reasonable minimums, particularly for its Standard account.
Leverage is a critical factor. While Exness is known for very high leverage internationally, UK-regulated traders will face ESMA-mandated caps (typically 1:30 for major forex pairs) with both brokers if they operate under a UK entity. It's essential to check the specific regulatory conditions that apply to your region.
#### Regulation
Both Exness and FP Markets are regulated by reputable bodies. Exness operates under licenses from entities such as the CySEC (Cyprus), FCA (UK – limited operations), FSA (Seychelles), FSCA (South Africa), and CMA (Kenya), among others. FP Markets holds licenses from ASIC (Australia) and CySEC (Cyprus), with its global entity regulated by the FSA (Saint Vincent and the Grenadines).
For UK traders, the specific entity they are onboarded with will dictate the regulatory protections and leverage limits. Always verify the regulatory status relevant to your location.
Comparison Table: Exness vs FP Markets Account Types
| Feature | Exness (Typical, at time of writing — check broker site) | FP Markets (Typical, at time of writing — check broker site) |
| :---------------- | :------------------------------------------------------ | :--------------------------------------------------------- |
| Account Types | Standard, Standard Cent, Raw Spread, Zero, Pro | Standard, Raw |
| Spreads EUR/USD | From 0.0 pips (Raw, Zero, Pro), from 0.3 pips (Standard) | From 0.0 pips (Raw), from 1.0 pips (Standard) |
| Spreads GBP/USD | From 0.0 pips (Raw, Zero, Pro), from 0.4 pips (Standard) | From 0.0 pips (Raw), from 1.2 pips (Standard) |
| Spreads XAU/USD | From 0.0 pips (Raw, Zero, Pro), from 0.5 pips (Standard) | From 0.0 pips (Raw), from 0.2 pips (Standard) |
| Commission | Raw Spread/Zero: From $3.5 per lot/side (FX); Pro/Standard: $0 | Raw: From $3.0 per lot/side (FX); Standard: $0 |
| Min Deposit | From $1 (Standard/Cent), From $200 (Pro/Raw/Zero) | From $100 (Standard), From $100 (Raw) |
| Regulators | CySEC, FSA (Seychelles), FSCA, CMA (globally) | ASIC, CySEC, FSA (Saint Vincent and the Grenadines) |
| Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal | MetaTrader 4, MetaTrader 5, IRESS (for Shares) |
*CFD trading involves significant risk of loss.* Please ensure you understand the risks involved.
Verdict by Trader Type
* Beginner Traders: Exness with its Standard Cent account is arguably more accommodating for those just starting out, allowing for very small trade sizes and minimal risk exposure. Its Standard account also offers a straightforward, commission-free entry.
* Experienced Traders/Scalpers: Both brokers shine here. FP Markets' Raw Account and Exness's Raw Spread, Zero, and Pro accounts offer highly competitive spreads and execution speeds suitable for aggressive strategies. Exness might have a slight edge due to the variety of professional account types, offering more granular choices based on specific spread/commission preferences.
* Traders on a Budget: Exness generally has lower minimum deposit requirements for its entry-level accounts, making it more accessible for traders with limited capital. Even its professional accounts start with a reasonable minimum.
* Traders Seeking Platform Variety: While both offer MT4 and MT5, FP Markets adds IRESS for those interested in share trading, which might appeal to multi-asset traders. Exness offers its proprietary Exness Terminal.
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Frequently Asked Questions (FAQs)
#### Q: Which broker offers lower spreads on average?
A: Both Exness and FP Markets offer very tight spreads on their professional/raw accounts, often starting from 0.0 pips on major forex pairs, coupled with a commission. For commission-free accounts, Exness's Standard and Pro accounts often feature competitive typical spreads, as do FP Markets' Standard account. The "best" depends on the specific pair and market conditions.
#### Q: Can I trade with unlimited leverage with Exness in the UK?
A: No. While Exness offers high leverage internationally, for UK-regulated clients, leverage is capped in line with ESMA regulations, typically at 1:30 for major forex pairs. Always check the terms relevant to your regulatory jurisdiction.
#### Q: Do both brokers offer MetaTrader 4 and MetaTrader 5?
A: Yes, both Exness and FP Markets provide access to both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are widely popular in the forex trading community.
#### Q: What is the main difference between a Standard and a Raw/Pro account?
A: The primary difference lies in the pricing model. Standard accounts typically have wider spreads but no commission per trade. Raw or Pro accounts offer much tighter, often raw, spreads (starting from 0.0 pips) but charge a fixed commission per lot traded. Raw/Pro accounts are generally preferred by experienced traders and scalpers for their lower effective trading costs on high volumes, while Standard accounts are simpler for casual traders.
*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.*
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.