Did you know that $6.6 trillion is traded daily in the forex market, making it the largest financial market in the world? For beginners eager to learn to trade forex, this massive marketplace offers exciting opportunities, albeit with significant risks.
However, getting started doesn't have to be intimidating. With the right platform and systematic approach, you can gradually build the knowledge and skills needed for forex trading. Exness, a popular broker with user-friendly features, provides an excellent starting point for newcomers.
This step-by-step guide will walk you through everything you need to begin your forex trading journey on Exness. First, we'll cover account setup and verification. Then, we'll explore funding options, platform selection, and the importance of practice trading. Finally, you'll learn how to execute your first real trade with confidence.
Whether you're looking to generate additional income or simply understand currency markets better, this beginner-friendly roadmap will help you navigate the basics of forex trading on Exness.
Create and Verify Your Exness Account
The first step to begin your forex trading journey involves setting up a proper trading account. Creating an Exness account gives you access to your Personal Area (PA), which serves as the central hub for managing all your trading activities.
Sign up with your email and password
Registering for an Exness account is straightforward and takes just a few minutes:
- Navigate to the Exness official website through this link: https://one.exnesstrack.org/a/v3hwtb3mfg
- Select your country of residence (important: this cannot be changed later)
- Enter a valid email address for account communications
- Create a strong password that includes uppercase and lowercase letters, numbers, and special characters
- If applicable, enter a partner code (optional)
- Confirm you are not a citizen or resident of the US by ticking the appropriate box
- Click Continue to proceed
Once registered, you'll gain access to the Exness Terminal, from which you can navigate to your Personal Area by clicking the features menu in the top right and selecting Personal Area.
Choose the right account type for beginners
As you learn to trade forex, selecting the appropriate account type is crucial for your development:
Standard Account Types are generally recommended for beginners due to:
- No minimum deposit requirements (only first-time deposit limits based on payment method)
- Lower barriers to entry, perfect for those just starting
- Simpler trading conditions
The Standard Cent account is particularly beginner-friendly since it features cent-lots, allowing for smaller minimum trading volumes. This results in reduced risk exposure and creates a more forgiving environment while you develop your trading skills.
Professional Account Types (Pro, Raw Spread, and Zero) offer more specialized features but require higher minimum deposits and are better suited for intermediate and advanced traders with established strategies.
Complete identity and address verification
Before you can fully utilize your Exness account, you must complete the verification process, which typically takes up to 24 hours:
Proof of Identity (POI) Requirements:
- Government-issued document with your photo
- Full name matching your account registration
- Date of birth (must be 18 years or older)
- Document must be valid for at least six months from upload date
- High-quality image showing all four corners clearly
Acceptable POI documents include passports, driver's licenses, and national ID cards.
Proof of Residence (POR) Requirements:
- Document issued within the past six months
- Must show your full name and current address
- High-quality image capturing all details
- Address must match the country registered to your Exness account
Commonly accepted POR documents include utility bills, bank statements, or official government letters.
For a smooth verification process, make sure your documents meet all requirements before submission. If your documents are rejected, Exness will provide specific reasons, allowing you to correct and resubmit them accordingly.
After successful verification, you'll have full access to your Exness account features, including deposits, withdrawals, and actual trading—bringing you one step closer to actively participating in the forex market.
Deposit Funds into Your Trading Account
Once your Exness account is set up and verified, funding your trading account becomes the essential next step before you can start to learn to trade forex actively. Understanding deposit options and requirements will help you begin your trading journey smoothly.
Select a payment method
Exness offers multiple payment options to accommodate traders from different regions. To fund your account:
- Log into your Personal Area (PA)
- Navigate to the Deposit tab
- Review available payment methods specific to your region
- Select your preferred option, noting the processing time and limits displayed
The platform provides diverse payment options including:
- Bank transfers: Ideal for larger deposits but may take 1-3 business days to process
- Credit/debit cards: Offers nearly instant processing, allowing you to begin trading quickly
- E-wallets (Skrill, Neteller, Perfect Money): Typically processed within 30 minutes
- Cryptocurrencies (Bitcoin, USDT, USDC): Usually processed within 24 hours
Your region determines which methods are available, as does your verification status. Furthermore, all payment methods are displayed with their processing times, limits, and any applicable fees directly in your Personal Area.
Understand minimum deposit requirements
Minimum deposit amounts vary based on two key factors:
Account Type Considerations:
- Standard accounts: Minimum deposit depends solely on your chosen payment method
- Professional accounts: Require a specific first-time minimum deposit (typically around $200) based on your region
Payment Method Minimums:
- Most e-wallets and cryptocurrencies: Generally $10 minimum
- Bank transfers: Often have higher minimums (around $10,000 for wire transfers)
- WebMoney: Some methods like WebMoney may have no minimum ($0)
An important point to note is that Exness only accepts payments from accounts in your name—third-party accounts are not permitted. Additionally, the minimum deposit requirement applies specifically to your first deposit, after which you'll only need to meet the payment method's minimum for subsequent deposits.
Tips for your first deposit
To ensure a smooth experience with your initial deposit, consider these practical tips:
Match your currency: Use the same currency as your trading account to avoid conversion fees. Once a trading account is created, its currency cannot be changed—you'll need to create a new account if you want to use a different currency.
Verify before depositing: Complete your economic profile and account verification beforehand to enable all payment methods and avoid delays. Some regions (like South Africa and Kenya) require full verification before proceeding.
Check processing times: If you're eager to start trading immediately, choose payment methods with faster processing times such as e-wallets or credit cards rather than bank transfers.
Prepare for a "Trade is Disabled" message: This error appears in the trading platform when attempting to open positions before meeting minimum deposit requirements.
Consider deposit timing: Although Exness processes deposits and withdrawals 24/7, your chosen payment provider may take additional time to complete transactions.
By carefully selecting your payment method and understanding the minimum requirements, you'll successfully fund your account and take an important step toward learning to trade forex on the Exness platform.
Choose and Set Up a Trading Platform
After selecting your account type and funding it, choosing the right trading platform becomes your gateway to the forex market. Exness offers several powerful platforms, each with unique features to help you learn to trade forex effectively.
MetaTrader 4 vs MetaTrader 5
Selecting between MT4 and MT5 depends largely on your trading goals and preferences. Both platforms are widely used, yet they serve different needs:
MetaTrader 4 (MT4) was specifically designed for forex trading and remains popular among beginners for its:
- Straightforward, user-friendly interface
- 30 built-in technical indicators and 9 timeframes
- MQL4 programming language for creating custom indicators
- Four types of pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop)
- Extensive community support and educational resources
MetaTrader 5 (MT5) offers more advanced features and broader market access:
- Multi-asset trading capability beyond forex
- 38 built-in indicators, 44 analytical objects, and 21 timeframes
- Superior speed with 64-bit multithreaded architecture
- Six types of pending orders, adding Buy Stop Limit and Sell Stop Limit
- Enhanced backtesting and automated trading capabilities
- Depth of Market (DoM) functionality
For beginners who want to focus exclusively on learning forex trading, MT4 provides a gentler learning curve. Conversely, MT5 offers more tools for those planning to expand into multiple markets eventually.
Using the Exness Trade App
The Exness Trade app puts forex trading literally in your hands, offering:
- User-friendly interface optimized for beginners
- Real-time chart analysis with customizable indicators
- Account management including deposits and withdrawals
- Market insights and trading signals
- Trade monitoring for open positions
To get started with the Exness Trade app:
- Download it from your device's app store
- Log in with your Exness account credentials
- Access both demo and real accounts from the Account section
- Navigate between accounts, trade, markets, and profile sections
Importantly, the app allows you to practice with a demo account before committing real funds—an invaluable tool when learning to trade forex. While the MT5 trading accounts can be accessed directly from Exness Trade, MT4 accounts require the separate MT4 mobile application.
Accessing the Web Terminal
For traders who prefer not to download software, Exness offers two browser-based solutions:
Exness Terminal provides:
- Streamlined interface with TradingView charting
- Real-time account information (balance, equity, margin, etc.)
- Compatibility with all Exness MT5 trading account types
- Over a hundred popular CFDs to trade
- No installation required—just a modern browser
MetaTrader WebTerminal offers:
- Browser-based versions of both MT4 and MT5
- Essential trading tools including charts and indicators
- Order management capabilities
- Accessibility from any device with internet connection
To access these web platforms:
- Log in to your Exness account via the website
- Navigate to the Platforms section
- Select either "Exness Terminal" or "MT4/MT5 WebTrader"
- Begin trading directly in your browser
These web options prove especially useful when traveling or using computers where software installation isn't possible. They contain most core functionality of their desktop counterparts while maintaining the flexibility of browser-based access.
Regardless of which platform you choose, Exness ensures fast execution speeds—processing orders in milliseconds—allowing you to capture opportunities without missing a beat.
Practice with a Demo Account First
Before risking real money in the forex market, gaining hands-on experience through a demo account is essential. A demo account at Exness replicates true-to-life trading conditions—providing live quotes, genuine spreads, and realistic execution—without putting your capital at risk.
How to open a demo account
Opening an Exness demo account takes just a few minutes:
- Visit the Exness signup page and register with your email and phone number
- In your Personal Area, click Create Demo Account
- Choose between MT4 or MT5 platforms
- Set your preferred leverage and virtual balance
- Make note of your demo account credentials for platform login
Need to add funds later? Simply open the My Accounts area, select the Demo tab, click Set Balance, and enter your desired amount.
Benefits of demo trading
Demo trading accounts offer numerous advantages for those learning to trade forex:
Risk-free environment - Practice trading strategies and techniques without financial consequences. This safety net allows you to learn from mistakes that would otherwise be costly.
Platform mastery - Become familiar with MT4/MT5 features including order types, charts, and indicators. Learning these tools beforehand prevents confusion when trading real money.
Strategy testing - Experiment with different trading approaches across various market conditions to find what works best for your style.
Emotional preparation - Experience the psychological aspects of trading—dealing with wins and losses—without actual financial implications. Moreover, this emotional resilience is crucial when transitioning to live trading.
Skill development - Analyze price patterns, test indicators, and develop technical analysis skills in a realistic setting with real-time market data.
When to switch to a real account
Knowing when to transition from demo to live trading is critical. Consider making the switch when:
You demonstrate consistent profitability - Achieving positive results over at least 30-50 demo trades indicates your strategy has merit.
Your emotions remain stable - Being comfortable with losing trades shows you've developed essential emotional discipline.
You have a defined trading plan - A comprehensive strategy outlining entry/exit criteria, position sizing, and risk management rules is in place.
Start with a small live deposit initially, maintaining identical settings and risk management practices as your demo account. Consequently, scale up gradually as your performance and confidence increase.
Place Your First Forex Trade
Now that you've practiced with a demo account, it's time to put your knowledge into action with your first real forex trade. Trading with real money requires careful planning and disciplined execution to manage risk effectively.
Select a currency pair
Choosing the right currency pair is your first critical decision. For beginners learning to trade forex, major pairs offer several advantages:
EUR/USD stands as the most traded pair globally, providing high liquidity, low spreads, and relatively low volatility—making it ideal for newcomers. Similarly, USD/JPY offers stability and predictable trends, helping minimize risk as you build confidence.
Currency pairs vary in volatility and behavior. For instance, GBPJPY (nicknamed "The Beast") exhibits unpredictable movements, whereas AUDUSD typically has sharp price moves influenced by commodity prices like gold and iron ore.
Your trading schedule also matters. The Tokyo session (23:30-08:00 EST) affects JPY pairs, whereas the London session (03:00-12:00 EST) impacts EUR and GBP pairs. Once you understand these dynamics, select a pair that matches your trading hours and risk tolerance.
Set trade size, stop loss, and take profit
Once you've selected a currency pair, configure these essential parameters:
- Trade size - Start with a small position (0.01-0.05 lots) to limit exposure as you learn
- Stop Loss (SL) - This automatically closes your position when the market moves against you by a predetermined amount
- Take Profit (TP) - This closes your position when you reach your desired profit level
Setting these parameters is straightforward on Exness platforms. For example, on Exness Trade, simply tap the instrument, click Buy/Sell, toggle "Order settings" on, and input your SL/TP values either as price levels or percentages.
These risk management tools are vital—Stop Loss protects you from unexpected market movements, whereas Take Profit locks in gains automatically without requiring constant monitoring.
Monitor and close your trade
After placing your order, track its performance regularly through:
- The Accounts tab displaying all open positions
- Chart analysis to evaluate price movements against your predictions
- Regular review of market news affecting your selected pair
To close a position manually, select the order, then tap "Close order" followed by "Confirm." Alternatively, partial closing allows you to secure some profits while keeping part of your position open.
For efficient management, Exness also offers batch-closing options such as "Close all profitable" or "Close all losing" positions simultaneously.
Conclusion
Final Thoughts on Starting Your Forex Journey
Learning to trade forex certainly requires dedication and methodical preparation. Throughout this guide, you've discovered the essential steps to begin trading on Exness, from account creation to executing your first real market position.
First and foremost, remember that successful forex trading combines knowledge, practice, and discipline. After setting up your verified Exness account and funding it through your preferred payment method, the platform selection becomes crucial to your trading experience. Whether you choose the straightforward MT4, the feature-rich MT5, or the convenient Exness Trade app largely depends on your specific needs and preferences.
Additionally, the importance of demo trading cannot be overstated. Most successful traders spend significant time practicing before risking real capital. Therefore, use this risk-free environment to develop your skills, test various strategies, and build emotional resilience against market fluctuations.
Once you transition to live trading, start with conservative position sizes and implement proper risk management through stop-loss and take-profit orders. Furthermore, focus on major currency pairs initially, as their stability and liquidity provide a more forgiving environment for beginners.
Undoubtedly, the forex market offers tremendous opportunities, but equally significant risks accompany these possibilities. Consequently, approach each trade with careful analysis rather than impulsive decisions. Above all, view your early trading period as an extension of your education – each trade, whether profitable or not, provides valuable lessons that will strengthen your trading abilities over time.
With patience, consistent practice, and disciplined risk management, you'll gradually develop the confidence and skills needed to navigate the forex market effectively on the Exness platform.