Understanding Exness Account Types
Exness offers a streamlined selection of account types, generally categorised into Standard and Professional accounts. Their focus is often on providing competitive conditions with clear pricing structures.
Exness Standard Account
The Standard Account is a popular choice for most retail traders due to its accessibility and commission-free trading. It typically features variable spreads, which can be quite competitive, especially during liquid market conditions. This account is suitable for those new to forex trading or those who prefer a simpler pricing model without per-lot commissions.
Exness Professional Accounts
Exness offers several professional-grade accounts, including the Raw Spread, Zero, and Pro accounts. These are designed for more experienced traders, high-volume traders, and those who require the tightest possible spreads.
* Raw Spread Account: As the name suggests, this account offers raw, interbank spreads, often starting from 0.0 pips on major currency pairs. A commission per lot per side is charged with this account, which is a trade-off for the tighter spreads. It's ideal for scalpers and algorithmic traders who prioritise minimal spread costs.
* Zero Account: Similar to the Raw Spread account, the Zero account aims to offer zero spreads on the top 30 most popular instruments for 95% of the trading day. This also comes with a commission. It's a robust option for those seeking highly predictable and ultra-low spreads.
* Pro Account: This account balances tight spreads with no commission. It often features lower spreads than the Standard account and can be a good middle-ground for traders who want better pricing than standard but prefer to avoid separate commission charges.
All Exness account types benefit from unlimited leverage (under specific conditions, but limited to 1:30 for retail clients in the UK/Europe due to ESMA regulations), instant withdrawals, and robust trading platforms.
Understanding XM Account Types
XM also provides a diverse set of account types, with a strong emphasis on flexibility and catering to a global client base. Their offerings generally include Micro, Standard, and XM Zero accounts, alongside specific share accounts.
XM Micro Account
The Micro Account is excellent for beginners or those who wish to trade with smaller volumes. It allows trading in micro lots (1,000 units of base currency), significantly reducing the capital required to open positions. Spreads are typically wider than Standard accounts but remain competitive. It’s a great way to test strategies and get comfortable with live trading without significant financial exposure.
XM Standard Account
The Standard Account from XM is their most popular offering, suitable for the majority of retail traders. It features commission-free trading and variable spreads. Trading is in standard lots (100,000 units of base currency), making it a versatile option for traders with moderate capital and those who prefer a straightforward cost structure.
XM Ultra Low Account
The XM Ultra Low Account offers tighter spreads compared to the Standard and Micro accounts, also without commission. It comes in both Standard Ultra Low and Micro Ultra Low variants, providing flexibility for traders seeking lower trading costs while still avoiding per-lot commissions. This account is designed for those who trade larger volumes and want more favourable spread conditions.
XM Zero Account
The XM Zero Account provides very tight spreads, starting from 0.0 pips on major pairs, similar to Exness's Raw Spread. However, like other raw spread accounts, it involves a commission per lot per side. This account is ideal for scalpers, high-frequency traders, and expert advisors that benefit from minimal interbank spreads.
All XM accounts provide access to the MetaTrader platforms and offer a variety of base currencies.
Exness vs XM Account Types: Comparison Table
| Feature | Exness (typical, at time of writing — check broker site) | XM (typical, at time of writing — check broker site) |
|:------------------|:--------------------------------------------------------|:----------------------------------------------------|
| Account Types | Standard, Raw Spread, Zero, Pro | Micro, Standard, Ultra Low, Zero, Shares |
| Spreads (EUR/USD) | From 0.0 pips (Raw/Zero), From 0.7 pips (Standard/Pro) | From 0.0 pips (Zero), From 1.0 pips (Standard/Micro)|
| Spreads (GBP/USD) | From 0.2 pips (Raw/Zero), From 0.9 pips (Standard/Pro) | From 0.2 pips (Zero), From 1.5 pips (Standard/Micro)|
| Spreads (XAU/USD) | From 1.0 pips (Raw/Zero), From 1.5 pips (Standard/Pro) | From 1.5 pips (Zero), From 2.5 pips (Standard/Micro)|
| Commission | Per lot per side on Raw Spread/Zero accounts | Per lot per side on Zero account |
| Min Deposit | $10 (Standard/Pro), $200 (Raw Spread/Zero) | $5 (Micro/Standard), $50 (Ultra Low), $100 (Zero) |
| Regulators | FCA (UK), CySEC, FSCA, FSC, CMA, etc. | FCA (UK), CySEC, ASIC, IFSC, FSC, etc. |
| Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal | MetaTrader 4, MetaTrader 5 |
*Note: Spreads and commissions are subject to market conditions and account type. Please verify the latest figures directly on the broker's website.*
Exness vs XM Account Types: Verdict by Trader Type
For Beginner Traders
* Exness: The Standard Account is user-friendly, commission-free, and offers reasonable spreads, making it a solid choice for those starting out. The low minimum deposit is also appealing.
* XM: The Micro Account is particularly strong for beginners, allowing very small trade sizes. The low minimum deposit and commission-free structure make it an excellent environment for learning with reduced risk. The Standard Account is also a good option for beginners with a slightly larger budget.
Verdict: For absolute beginners, XM's Micro Account might have a slight edge due to its emphasis on micro-lot trading. However, Exness's Standard Account is also highly competitive.
For Experienced/Volume Traders
* Exness: The Raw Spread and Zero accounts are designed for traders seeking the tightest possible spreads, ideal for scalping and high-frequency trading. The Pro Account offers a commission-free option with very competitive spreads.
* XM: The XM Zero Account also caters to experienced traders looking for raw spreads and are willing to pay a commission. The Ultra Low Account provides a commission-free alternative with better spreads than standard offerings.
Verdict: Both brokers offer excellent options for experienced traders. Exness's Raw Spread and Zero accounts are highly competitive in terms of raw spread offerings. XM's Ultra Low accounts are a strong contender for those who prefer tighter spreads without commissions.
For Traders Preferring Commission-Free Trading
* Exness: The Standard and Pro accounts are excellent choices, offering competitive variable spreads without any per-lot commission. The Pro account, in particular, offers tighter spreads than the Standard.
* XM: The Standard, Micro, and Ultra Low accounts are all commission-free. The Ultra Low variants offer the best spread conditions among XM's commission-free options.
Verdict: Both brokers excel here. Exness's Pro account and XM's Ultra Low accounts are particularly strong for commission-free trading with good spread conditions.
For Scalpers and Algo Traders
* Exness: The Raw Spread and Zero accounts are perfectly suited for these strategies due to their ultra-tight, often zero, spreads and rapid execution. The commission structure is typical for such accounts.
* XM: The XM Zero Account is XM's primary offering for scalpers, providing raw spreads with a commission. It's designed to meet the demands of strategies requiring minimal spread costs.
Verdict: Both Exness's Raw Spread/Zero accounts and XM's Zero account are highly competitive. Exness often has an edge with its multiple zero/raw spread options.
Conclusion
Both Exness and XM are reputable brokers offering a wide array of account types designed to meet the needs of various traders. The choice between them often comes down to specific preferences regarding spreads, commissions, and minimum deposits. Exness stands out with its potentially lower minimum deposits on standard accounts and multiple commission-based raw spread options, while XM offers excellent micro-lot trading and a strong array of commission-free choices with its Ultra Low accounts.
Ultimately, traders should carefully consider their trading style, capital, and risk tolerance when choosing between Exness and XM account types. We recommend visiting both brokers' official websites to review their latest offerings and terms.
As our featured partner, consider exploring Vantage for competitive trading conditions. Open a Vantage account for a robust trading experience.
FAQs
Q1: What is the main difference between a Standard and a Raw Spread account?
A Standard account typically has wider spreads but charges no commission per trade. A Raw Spread account offers significantly tighter spreads, often starting from 0.0 pips, but charges a fixed commission per lot per side. Raw Spread accounts are generally preferred by experienced traders and scalpers who benefit from lower spread costs, even with the added commission.
Q2: Which broker, Exness or XM, is better for beginners?
Both brokers have offerings suitable for beginners. XM's Micro Account is particularly good for absolute beginners due to its allowance for micro-lot trading and very low minimum deposit, enabling traders to start with minimal risk. Exness's Standard Account is also a strong choice with a low minimum deposit and commission-free trading.
Q3: Are Exness and XM regulated in the UK?
Yes, both Exness (via Exness (UK) Ltd) and XM (via Trading Point of Financial Instruments UK Ltd) are regulated by the Financial Conduct Authority (FCA) in the UK. This provides a high level of regulatory oversight and client protection for UK traders. However, it's crucial to verify the specific entity you are trading with and its regulatory status.
Q4: Can I trade with unlimited leverage with Exness or XM in the UK?
No, for retail clients in the UK and Europe, leverage is limited to 1:30 for major currency pairs due to regulations imposed by the European Securities and Markets Authority (ESMA) and enforced by the FCA. While Exness may offer unlimited leverage in other jurisdictions, and XM also offers higher leverage globally, these limits apply to UK-regulated entities. Always be aware of CFD risk; losses can exceed deposits.
Next step
Open a Vantage account. CFDs carry a high risk of losing money.