Exness Broker Review
Exness Broker Review Founded in 2008, multi-asset broker Exness is an industry leader serving more than 70,000 monthly active clients from across the world. Regulated by Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA), Financial Sector Conduct Authority (FSCA) and Seychelles Financial Services Authority (FSA), Exness entices traders by offering a wide range of account types and financial products that complement different trading strategies. In addition to its successful retail operations, the broker provides B2B solutions for international corporations. Since its establishment 13 years ago, Exness has hit multiple milestones and experienced significant growth. In 2020, the firm reported an impressive trading volume of USD 6,783 billion, breaking the company’s record. To meet the demanding needs of its expanding customer base, Exness makes intuitive trading platforms MT4 and MT5 available to its clients. Catering to traders of various levels of risk tolerance, the broker offers no minimum deposit and an unlimited leverage to clients who have met specific requirements. Together with its tight spreads and vast array of trading instruments, Exness creates an ideal environment for both novice and experienced traders to enjoy trading.
Exness Pros & Cons
Regulated and licensed by CySEC, FSA, FCA and FSCA Tight spreads and low minimum deposit A variety of account types tailored to various trading needs Unlimited leverage available to all account types Instant withdrawals Customer support available in 15 languages
Retail services unavailable in the UK and EU No current bonuses
Regulation and Security
Despite its British and Cypriot licences, Exness withdrew from the retail markets of the two countries back in 2019 due to strategic changes. The two licences enable the broker to continue its B2B operations. Exness is also regulated by South African and Seychelles authorities. Its FSCA and FSA licences assure that trading through the broker’s Nymstar and Vlerizo Pty entities is safe and secure. With honesty and transparency being its core values, Exness is one of the first brokers to undergo and publish regular financial audit reports. The Cyprus-headquartered company has appointed Deloitte, a Big Four accounting firm, to verify its financial statements on a quarterly basis. An industry leader in audit and consulting services, Deloitte confirms the authenticity and accuracy of Exness’ account funds. Traders can access the broker’s previous audit reports on the Exness website. To enhance the financial security of Exness’ traders, the broker ensures the segregation of its clients’ funds from corporate funds. On top of that, Exness’ funds always remain several times larger than those of its traders, meaning that the broker is always capable of satisfying clients’ payout requests. To further protect its clients’ capital, Exness requires the provision of a verification code from the customer’s security type in order to process a withdrawal. Trading with Exness means placing your funds in the hands of a fully-regulated broker that cares about your capital. It also means you are provided with a safe and secure trading environment.
Exness is committed to fulfilling the needs of a wide spectrum of traders. Therefore the broker provides six different types of accounts for its clients to choose from, with each account type boasting different features tailored to specific trading needs.
Exness Standard Accounts
Suitable for beginners, Standard accounts require no minimum deposits and have a minimum spread of 0.3 pips. There are three types of Standard accounts, namely Standard Cent, Standard and Standard Plus.
The Exness Standard Cent account is compatible with the MT4 trading platform. Exness customers who hold a Standard Cent account are free to trade any forex pairs and metals that Exness offers. The account features unlimited leverage and is not subject to any commissions. The most unique feature of the Exness Standard Cent account is that it enables traders to open a position for 0.01 cent lot. This is perfect for novice traders who do not wish to put their funds at huge risks when they are still at the early stage of becoming a trading expert. Traders can open an order for a maximum of 200 cent lots, and they are allowed to have no more than 1,000 open market orders at a time. However, Exness does not offer any demo Standard Cent accounts so traders have to test their strategies by entering the live markets.
Exness Standard account holders can access both MT4 and MT5. The Exness Standard account offers unlimited leverage to account holders who trade on the MT4 platform. Traders using MT5 are offered a maximum leverage of 1:2000. Same as the Standard Cent account, no trading commissions are applied to the Standard account. Other than metals and forex, Exness Standard account holders can test their trading skills with all other financial instruments available at Exness, including cryptocurrencies, energies, indices and stocks. Nevertheless, the Standard account requires a minimum volume of 0.01 lot for traders to open a position. All in all, the Exness Standard account is ideal for beginners who are after more trading options than what the Standard Cent account provides and are willing to trade in larger increments.
The Standard Plus account is tailored especially for traders registered under Exness’ more than 500 recognised partners and is unavailable for ordinary customers. It offers exclusive features and benefits that are not found in other standard accounts. Exness customers trading with a Standard Plus account are subject to a minimum spread of 1 pip, making it more expensive than the other two standard accounts. However, the Standard Plus account is hugely beneficial for traders taking part in Exness’ partnership programme. Exness partners can earn a higher partner commission when their clients trade on a Standard Plus account. Traders are also allowed to hold a larger number of Standard Plus accounts than the remaining variants. Whilst traders can hold a maximum of ten Standard Cent accounts and 400 Standard accounts respectively, Exness customers registered under the company’s recognised partners can open up to 8,000 Standard Plus accounts.
Exness Pro Accounts
With extremely low spreads starting from 0.0 pips, Exness Pro accounts are designed for seasoned traders. Their minimum deposit requirements vary with countries of registration. For instance, Exness clients registered in Vietnam and Singapore are subject to a minimum deposit of USD$200. Registering for any type of Pro accounts in Pakistan and India means you will have to deposit at least USD$500, whilst Exness Pro accounts opened in Hong Kong, Taiwan and the MENA region require a minimum deposit of USD$3,000. There are three different types of accounts under the Pro category, including Pro, Raw Spread and Zero.
The Exness Pro account is the only account type that offers instant executions. Instant executions enable traders to have Exness execute an order at their requested price, making it possible for traders to enter the market at a fixed price. Since instant executions are a powerful tactic in some trading strategies, the Pro account has unsurprisingly become one of Exness’ most popular account types.
As its name suggests, the Exness Raw Spread account differentiates itself from other accounts with its minimum spread of 0.0 pips. Same as the majority of Exness’ account types, Raw Spread account holders are eligible for an unlimited leverage when trading through MT4 and a leverage of up to 1:2000 when using the MT5 platform. Exness’ full collection of tradable assets is also at the disposal of traders holding a Raw Spread account. The Exness Raw Spread account is subject to a fixed trading commission of up to USD$3.5 per lot per side. Exness customers can hold a total of as many as 8,000 Raw Spread accounts.
A professional traders’ favourite, the Exness Zero account allows its holders to enjoy spread-free trading for Exness’ top 30 financial instruments 95% of the day. Depending on market volatility, Exness Zero account holders can also benefit from zero spread when trading the rest of the instruments during 50% of the trading period. The Exness Zero Spread account commission starts from USD$3.5 per lot per side and it varies with trading instruments.
Exness Demo Accounts
Exness understands how important it is for novice traders to get a feel for how financial markets work before investing real money. Hence the broker introduces Exness demo accounts, a simulated market environment that enables its customers to experience real-life trading without putting their wallet at risk. With Exness demo accounts, newcomers can explore the markets and the wide range of financial products available at Exness completely stress-free. It is a great way to practice trading strategies before implementing them in live trading. Exness demo accounts are free to open and available on both MT4 and MT5. An Exness demo account replicates the exact same trading conditions of a real trading account. After opening an Exness demo account, you will enjoy the same features available on a real account apart from deposit, withdrawal and transfer. Instead, Exness demo account holders can set their desired balance before they start ‘trading.’ Beginners are not the only ones who can benefit from Exness demo accounts. With the help of a demo account, seasoned traders can also experiment with new strategies and analyse the markets knowing that they will not be suffering from any real-world losses. Exness demo accounts are fantastic tools for both novice and experienced traders to develop their skills and grow in confidence.
To cater to every kind of trader looking to succeed in the global financial markets, Exness provides an extensive selection of trading instruments for its clients to choose from, ranging from forex, metals, cryptocurrencies, stocks, energies to indices. Traders will find financial products that catch their eyes regardless of their preferences.
Boasting a vast collection of 107 currency pairs, Exness’ forex market coverages are some of the most extensive and diverse in the forex trading scene. Exness currency pairs consist of major, minor and exotic pairs. There are a total of seven major pairs available for trading, including AUDUSD, EURUSD and GBPUSD. Exness offers 25 minor currency pairs, which are essentially highly traded forex pairs without USD. AUDCAD, CADJPY, EURGBP and GBPAUD are a few examples. Last but not least, Exness customers are given 75 exotic currency pairs to choose from. Made up of a leading currency paired with the currency of an emerging economy, exotic pairs are not as popular as majors and minors and are therefore subject to larger spreads. Examples of exotic pairs include AUDZAR, CADNOK and DKKJPY. The variety of Exness currency pairs has made Exness an excellent forex broker. Exness is capable of keeping traders satisfied no matter what strategies they are adopting.
Metals with high economic value such as gold, silver, palladium and platinum have stood the test of time and remained as some of the most traded financial instruments today. To meet its clients’ needs in metals, Exness has made ten metal pairs available for trading, including XAGEUR, XAGGBP, XAUAUD and XPTUSD.
The popularity of cryptocurrencies is undeniable. Therefore Exness has made sure the demand is met by featuring seven cryptocurrencies in its range of tradable assets. Other than Bitcoin, which has taken the world by storm, Exness customers are given the options to trade bitcoin cash, Ethereum, Litecoin and Ripple.
Thanks to their high volatility, energies draw the attention of many traders and are often used to diversify one’s trading portfolio. At Exness, traders can choose between Brent Crude (UKOIL) and West Texas Intermediate (USOIL).
There are a total of 70 stocks featuring amongst Exness’ portfolio of financial products. Trading with Exness means you will have access to active stocks such as Apple, Amazon, Netflix, Pfizer and Tesla.
Indices are relatively easier to analyse compared to other instruments. This explains why they remain a favourite amongst traders and investors. Exness customers can access 13 different indices, such as Hang Seng Index, Financial Times Stock Exchange 100 Index and Dow Jones Industrial Average.
Exness Trading Tools
To deliver an effortless trading experience, Exness provides its customers with one-stop powerful tools to help them make well-informed trading decisions. Traders who have chosen Exness are equipped with tools for both fundamental and technical analysis, comprehensive research tools and more.
Exness Trader’s Calculator
The Exness Trader’s Calculator is a must-have for all traders. It calculates all the basics of a trader’s trading positions, including pip value, swap and margin. Compatible with all instruments across all account types, the Exness calculator is particularly useful when traders open multiple orders involving different financial products.
Exness Economic Calendar
Straightforward and easy to use, the Exness Economic Calendar is an indispensable tool for fundamental analysis. The tool allows traders to observe multiple currencies and the upcoming news that may impact their prices. In the case of influential news and events that will lead to higher margin requirements, the Exness Economic Calendar will alert traders with a ‘flame’ icon.
Traders looking for quick currency conversions will find the Currency Converter handy. The user-friendly tool enables users to simultaneously view the conversion rates of six chosen currencies. The Currency Converter is updated in real-time so traders are guaranteed to obtain the latest conversion rate. A simplified version of the Currency Converter is available on the homepage of Exness’ website. It displays the conversion rates of six of the most popular currencies, namely EUR, GBP, USD, CHF, RUB and JPY.
Trading Central WebTV
Trading Central WebTV is one of the most powerful tools that Exness is offering. Powered by Trading Central, an industry leader in financial investment research, Trading Central WebTV is a video stream of financial news broadcasted live from the New York Stock Exchange. Available in a few different languages including English, Simplified Chinese, Russian and Arabic, the tool assists Exness clients in analysing the markets with the most up-to-date information.
Exness VPS Hosting
Exness looks after the needs of clients looking to have their trailing stops constantly functioning by offering them a free VPS. Traders can apply for an Exness VPS for free as long as they have a total deposit of at least USD$500 and a minimum free margin of USD$100 in their trading account. Exness customers also have to maintain the free margin of USD$100 throughout the application process, or else their VPS request will be cancelled. With the help of an Exness VPS, traders can connect to and use a remote terminal, the server of which is in the immediate vicinity of Exness’ main trading servers, as if they are trading right from their PCs. Aside from making it possible for trailing stops to function uninterruptedly, the Exness VPS provides traders with a robust connection whilst using scripts and Experts Advisors during trading.
Registration at Exness
Exness has kept its registration process easy and straightforward to create a fuss-free trading experience.
Opening an Account
The fastest way to open an account at Exness is to complete the ‘New Account’ form on the right sidebar of the Exness website. After selecting their country of residence, providing an email address and choosing a password, traders will be offered the options to open a demo or real trading account. Alternatively, traders can open an Exness account by clicking the ‘Start Now’ button on the homepage of exness.com. They will be redirected to the general registration page, where they are asked to submit their country of residence, email address and create a password. Exness customers can also register for a trading account from the account types descriptions on the homepage. After choosing whether they would like to open a Standard or Pro account by clicking the ‘arrow’ button, Exness clients will be redirected to a corresponding page, where they can choose from a list of account types and click ‘Open an Account.’ After that, traders can complete the registration by filling in the requested information on the general registration page.
To prevent identity theft, financial fraud, money laundering and terrorist financing, Exness has set up a simple KYC process to verify the identity of its new clients. The broker’s customers are given 30 days after their first deposits to provide a proof of identity, a proof of residence and economic profile. For Exness clients based in South Africa, India, Brazil and UAE, the 30-day period will start after they have made their second deposit. Once they have submitted their proof of identity and completed their economic profile, their deposit limit will increase from USD$2,000 to USD$50,000 per Personal Area. The deposit restrictions will be removed as soon as customers have fully complied with the KYC requirements. If traders fail to provide the requested information within the 30-day period, they will not be able to deposit or open any orders. The features will only be available again after clients have completed the KYC process. Exness’ simple but stringent KYC verification process has protected its trading environment from criminals without becoming an obstacle for its clients to start trading.
Deposits and Withdrawals
Exness provides a great variety of payment options to make sure all deposits and withdrawals made are as seamless as possible.
Exness Minimum Deposit and Withdrawals
As mentioned earlier, the minimum deposit for Exness varies with account types. Exness’ minimum deposit for Standard accounts is as little as USD$1, whilst Pro accounts require a minimum deposit starting from USD$200. Payment methods also affect the minimum deposit for Exness. For instance, users of Skrill and Neteller are required to deposit at least USD$10 each time. As for Exness’ minimum withdrawal, it changes depending on the chosen withdrawal method.
Electronic Payment Systems
There are several electronic payment systems (EPS) available at Exness, including Skrill, Perfect Money, Neteller and WebMoney. They allow instant deposits and withdrawals, meaning that transactions can take place in a few seconds without manual processing. EPS are also commission free. However, traders are subject to a withdrawal fee if they choose to withdraw via Skrill or Perfect Money. The use of EPS may also be restricted depending on the countries traders are located.
At Exness, cryptocurrencies are not only trading instruments but also payment options. Exness accepts Bitcoin and Tether as deposit and withdrawal methods. Traders who choose Bitcoin as a payment method are instructed to create an Exness Bitcoin wallet, where all payments in Bitcoin take place. The Exness Bitcoin wallet can only be used for deposits, withdrawals and internal transfers rather than trading.
To give traders additional flexibility, Exness allows its clients to make internal transfers between their trading accounts within their Personal Area. This makes it a lot easier for traders to distribute and manage their funds at Exness.
Local Payment Systems
Catering to its global clients, Exness provides an assortment of local payment systems targeting different countries, including India, China, Indonesia, Japan, Thailand, Vietnam and a number of African and Latin American countries. This enables traders to deposit and withdraw in their local currency, allowing them to enjoy a user-friendly, personalised trading experience.
Despite the rise of EPS and cryptocurrencies, bank cards remain as one of the world’s most popular payment methods. Traders can deposit and withdraw using their physical or electronic debit or credit cards (VISA, MasterCard and JCB) at Exness. Bank cards support instant deposits and deliver secure payments. Nevertheless, Exness does not accept credit or debit cards issued by American banks and requires full document verification upon any bank card usage. Instant withdrawals are also not possible through bank cards. As a result, they may not be suitable for traders looking to get their hands on their funds immediately.
Exness Bonuses and Promotions
At the time of writing, Exness’ bonus programmes are no longer open for registration and the broker has no plans to reopen them. Nevertheless, Exness’ trading bonus and deposit bonus programmes are still available to clients who joined before the registration closed.
Exness has a few offices operating across the globe. Exness CY Limited is located in Limassol, Cyprus and is the headquarters of Exness. The company’s Cyprus entity is regulated by CySEC. Exness UK Limited is situated in London, England. Licensed by the FCA, it is responsible for Exness’ B2B operations. The multi-asset broker’s retail operations are handled by two global offices. Nymstar Limited is registered in Eden Island, Seychelles and licensed by the FSA. Vlerizo (Pty) Limited, located in South Africa, is regulated by the FSCA.
Exness Official Websites: www.exness.com www.exness.eu www.exness.uk Exness Email Addresses: [email protected] [email protected] [email protected] Exness Live Chat Support: Exness’ live support can be accessed via www.exness.com. Exness Call Centre: +357 25 030 959 (Cyprus) +44 203 318 6028 (UK)
Is Exness a good forex broker?
With an impressive collection of 107 forex pairs, Exness’ forex coverage is amongst the best in the financial industry. Its tight spreads, intuitive trading platforms and comprehensive analytic tools make Exness a great place for forex trading. The broker holds its clients’ funds in segregated accounts, offering a high standard of customer protection. Overall, Exness is a reliable forex broker that provides a desirable trading environment.
Is Exness regulated?
Exness’ retail operations are regulated by Seychelles and South African authorities, namely FSA and FSCA respectively. Exness’ B2B offerings are regulated by Cypriot and British regulators, which are CySEC and FCA respectively.
How can I open an Exness demo account?
Create and log into your Personal Area on the Exness website. Select ‘Demo’ under ‘My Accounts.’ Click ‘Open New Account’ to view the list of account types that offer the demo option. Select ‘Try Demo’ under the account type of your choice. You will then be directed to a page where you are asked to choose your trading platform, account currency, account nickname and password. You will also be able to adjust your leverage and starting balance. Finally, click ‘Create an Account’ to finish setting up your demo account.
What is Exness’ minimum deposit?
Exness’ Standard accounts have no minimum deposit requirements, whilst its Pro accounts require traders to deposit at least USD$200 to USD$3,000 depending on their country of registration. Other than account types, payment methods determine the minimum deposit. For instance, users of Neteller and WebMoney are subject to a minimum deposit of USD$10, whilst traders who choose Perfect Money as their payment method have to deposit USD$50 or more each time. If an Exness customer wishes to deposit using their bank cards, their minimum deposit requirement will be USD$3.
How many days does a withdrawal take at Exness?
Exness clients can enjoy instant withdrawals through EPS. Traders who opt to withdraw using cryptocurrencies have to wait up to 72 hours before receiving their withdrawals. As for withdrawals via bank cards, it takes up to three to five business days to process.