WHO IS EXNESS?
Exness is a worldwide brokerage firm that was established in 2008.
It’s no surprise that Exness has experienced exponential growth since its inception as they have been able to put through massive trading volumes of transactions year on year.
The Cyprus broker delivers their services from their main offices in Seychelles and have expanded their base of operations to the UK as well.
Exness is not publicly listed but is regulated by CySEC as well as the FCA so users can rest easy with the transparency that is required by the governing authorities.
Exness has also made sure that traders have a wide variety of instruments to choose from with CFDs and Cryptocurrencies being included in the mix.
Evidence of their pedigree in the Forex space can be found in their customer service where Forex traders will be satisfied with quick and relevant assistance.
Traders will have access to great trading platforms which include web, mobile and desktop applications.
|Time to open an account||Immediate account opening, 1 day for verification|
|Bonus||$1 sign up bonus|
|Publicly traded – listed on stock exchange||No|
|Country of regulation||FCA, CySEC|
|Platforms||MetaTrader 4, MetaTrader 5|
|Mobile App||iPhone, iPad, Android|
|Base currencies||More than 80 Currency options|
|Ave spread EUR/USD||From 0.9 pips|
|Leverage||Up to 1:1000|
|Trading fees (low, average, high)||Low|
|Deposit with electronic wallet||Yes|
EXNESS REVIEW OF PROS AND CONS
|Wide range of instruments including Forex and CFDs||No multi-currency accounts|
|Caters for traders of any experience level||Certain regions may incur deposit fees|
|Great platform technology|
|Research and educational tools are advanced|
|Quick and easy account opening|
|Efficient customer support|
IS EXNESS SAFE?
Exness group has made every effort to comply with all the stringent requirements of the regulatory companies that it is certified with and include:
- Cyprus Securities and Exchange Commission (CySEC)
- The Financial Conduct Authority (FCA)
Exness is considered to be a reliable and safe broker and their continued compliance gives traders the assurance that their funds and trading journey are safe.
Leverage is always a tempting option for Forex traders and, often times, proves to be a useful tool to many traders.
Exness offers the use of leverage and have offered many options relating to various instruments.
Regulatory authorities have placed inherent guidelines on Forex brokers and Exness offers leveraging from 1:1 all the way up to 1:1000.
As always, traders should be cautious when using leverage for trading with specific instruments as the use of leverage changes with different instruments. The incorrect use thereof could lead to significant losses.
Exness has restricted themselves from providing services to USA, Saint Vincent and the Grenadines, American Samoa, Baker Island, Guam, Howland Island, Kingman Reef, Northern Mariana Islands, Puerto Rico, Midway Islands, Wake Island, Palmyra Atoll, Jarvis Island, Johnston Atoll, Navassa Island, Israel, Vatican, Malaysia, and Russia Federation.
Traders will be able to choose from a few account types:
- Standard Account – great account for all types of traders
- Standard Cent Account – great account for beginner traders who still learning the ropes and can learn to trade with micro-lots
- Professional ECN Account – Recommended for experienced traders and allows traders to further tweak their trading strategies by choosing a raw spread, pro or zero account
Swap-free Islamic account options are available to customers upon request and traders can rest easy knowing that all their trading will be aligned with Sharia Laws.
Exness have put in a lot of effort to offer a great selection of instruments to traders to assist with bolstering their portfolio.
You will have the opportunity to choose from 107 currency pairs for Forex, Stocks CFDs, Indices CFDs, Energies CFDs, Metals CFDs as well as 7 Cryptocurrencies.
Traders will have the necessary variety to ensure that they are diversifying their portfolio as best they can.
You will be able to open an account from as little as $1 as Exness does not require a specific minimum deposit on standard accounts but the professional account will demand a $200 minimum deposit.
Exness account types have variable spreads attached to them. Standard accounts do not carry any commission, but the professional account carries commissions per trade.
“Rollover” is a term that Exness makes use of and it speaks to charges that traders will incur for holding overnight positions.
DEPOSIT AND WITHDRAWAL
Traders will be happy to know that Exness has a policy of instantly executing withdrawals and deposits and they do not levy any commission charges.
Exness have provided a few options for deposits to try and accommodate customers’ needs.
Deposit options include bank wire transfers, all major credit cards and E-Systems like Neteller and Skrill and support deposits for USD and EUR.
Withdrawals function the same way as deposits. It’s important to note that as much as Exness does not charge for withdrawals, there may be regulatory regulations for your region that require charges to be levied.
Exness give users the opportunity to conduct their trades on a variety of platforms:
- MetaTrader 4 – a popular trading platform
- MetaTrader 5 – latest trading platform with more tools
- Web Trading – no need to download the software trade from your browser
- Desktop Trading – full account functionality available on your desktop
- Mobile Trading – great functionality offered on Android and IOS
Additional platform support includes fee reports, technical analysis and support for multiple languages.
HOW TO OPEN AN ACCOUNT
Creating an Exness account is easy and can be done following these easy steps:
- Register for a trading account via the website
- Confirm credentials by providing supporting documents
- Await verification process to be completed
- Make your first trade!
Traders can take comfort in the quality of customer service that Exness provides.
Users can expect support through telephone, live chat and email.
24/7 support is offered to English and Chinese customers and there are also 13 other supported language that will be assisted 24 hours a day, 5 days a week.
The support team provide relevant answers and resolve issues efficiently.
Exness’ educational resources are absolutely fantastic and Exness is the only broker in the world to offer traders a chance to be part of their Exness Academy.
The academy offers Forex courses and Forex training specifically tailored to assist traders of any experience level. Exness has a keen focus of making sure that novice traders develop to their full potential.
Research and training materials are well organised and easy to access.
Additional perks include the use of a free demo account, real-time financial news from the Dow Jones and Web TV.
Research tools on the Exness platform consists of third-party materials in the form of news headlines, trading indicators and an economic calendar.
Exness has very little internal research content and as much as the third-party material is satisfactory, users will most likely feel the need for some improvement.
*Exness has not listed any awards on their website or any public data offering. This is highly surprising as they have a superb product offering and provide an excellent trading experience
Exness is an amazing online Forex broker who offers transparency as a result of their compliance to all the relevant regulatory bodies.
Traders can expect an amazing trading experience with capable platforms and fantastic customer support.
Exness also prioritises the training and development of its traders to ensure that they reach their full potential. Overall, in this Exness Forex Review we believe they are an attractive choice for any Forex adventurer.