What the Price of Entry Is Made Of (Botswana)

Minimum deposit applicable; may vary based on payment method or geographic location.

What sits behind the cost line

• Most withdrawals are processed automatically, 24/7 — processing times may vary
• Low entry: open a Standard or Standard Cent account with no minimum initial deposit
• Raw spreads from 0.0 pips on the Raw Spread and Zero accounts
• Negative balance protection — losses are limited to the funds you deposit
• Swap-free (Islamic) accounts available
• MT4, MT5, the Exness Terminal web platform and the Exness Trade app
• USD-based accounts — practical for traders in Botswana

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The pages the three parts are measured on

Also: round-turn cost per lot and break-even distance, the spread as measured, hour by hour, fills timed on real orders and how far the spread travels from its own median.

The cost of entry — the short version

Add three things and the answer is complete. The spread, quoted in points and worth a fixed amount per lot on each instrument, is paid on every round trip. A commission per side exists only on the account types that quote a rawer spread — on a spread-only account the spread is the entire round-trip cost. Slippage is the difference between the price on screen and the price filled, it is recorded with a sign, and in the measurements published here it has landed on both sides of zero. The useful output is not the sum itself but the break-even distance it implies: how far price has to travel before the trade is level. Spreads may fluctuate and widen depending on liquidity, news and market conditions. CFDs carry a high risk of losing money rapidly due to leverage.

Three numbers that add up to one

The spread is the part everyone quotes, but on its own it says nothing about money. A spread of the same size costs different amounts on different instruments, because what one point is worth per lot differs. Converting points into dollars per lot is what turns a quoted spread into a cost, and it is the step most comparisons skip.

Commission is the part that appears or disappears with the account type rather than with the market. Where it applies it is charged per side, so a round trip pays it twice; where it does not, the entire round-trip cost sits inside the spread. Neither arrangement is automatically cheaper — they are different shapes of the same bill, and the only way to compare them is on a specific instrument at a specific volume.

Slippage is the part nobody quotes because nobody can. It is the difference between the price at which the order was sent and the price at which it was filled, and it is recorded with a sign: negative means the fill was better than the quote. Delays and slippage may occur. No guarantee of execution speed or precision.

Read the total as a distance, not as a fee

A number in dollars is hard to judge in isolation. The same total expressed as break-even distance — how far price must move in the trade’s favour before it is level — is immediately usable, because it can be compared with how far that instrument usually travels in a day.

That comparison is the reason a wide-looking cost on one market can be lighter than a narrow one on another. The trading costs page publishes both columns side by side: the round-trip cost per lot and what it represents against the daily range.

Slippage is not a fee, and not always a loss

A fee is known in advance and applied consistently; slippage is neither. In the execution measurements published on this site, orders were placed and closed for real and every fill was timed in the terminal, with the slippage recorded as a signed number. Some fills landed better than the quoted price, some worse, and no order was refused at the sizes tested.

What follows from that is a habit rather than a formula: judge the fill against the price that was on screen when the order was sent, not against the price you hoped for, and expect the gap to widen with size and with thin liquidity. Execution speed and fill quality vary with market conditions, liquidity and position size.

What does not belong in this figure

Overnight charges are not part of the cost of entering. They begin only if the position is still open at the daily rollover and they accumulate per night, which makes them a property of the hold rather than of the trade’s opening — the swap rates page carries them separately.

Nor does the account’s currency conversion or anything a payment provider does on the way in belong here. Keeping those apart is what makes the entry figure comparable between instruments and between accounts; mixing them is how a simple question stops having an answer.

Costing a specific trade before sending the order

1. Take the spread for the instrument from the measured spreads rather than from a promotional figure, and note when it was read.
2. Convert it into money: points multiplied by what a point is worth per lot on that instrument.
3. Add the commission if the account charges one, counting it per side — a round trip pays it twice.
4. Express the running total as a break-even distance and compare it with the instrument’s usual daily range.
5. Look at the execution measurements for the size being traded to see what slippage has looked like in practice, in both directions.
6. Check how far the spread strays from its own median before assuming the quiet-market number applies at the moment of entry.
7. If the break-even distance is a visible share of the move being aimed at, change the instrument or the size rather than the expectation.

Spreads may fluctuate and widen depending on liquidity, news and market conditions. Delays and slippage may occur. No guarantee of execution speed or precision.

The three parts, and when each becomes known

Overnight charges are not part of this figure; they belong to holding a position, not to opening one.