Exness Read Review
Exness ensures negative balance insurance and keeps client funds apart from business funds. Additionally, Exness posts its financial accounts online. Its independent external auditor is Big Four accounting firm Deloitte.
For those who cannot accept delays or interruptions in their trading techniques, Exness provides a secure trading environment. This is important for algorithmic trading as well as for other types of traders. Additionally, given that Exness is governed by CySEC, customers should have faith in its capacity to carry out its custodial and market-making responsibilities flawlessly. Customer service is a crucial component of any broker’s credibility, and Exness excels in this department. Traders can get in touch with the company 24 hours a day, 7 days a week, using live chat, email, phone (in any of the 13 languages offered), and applications like WhatsApp and Viber.
Exness Trading goods
With 107 currency pairings available, Exness offers one of the most thorough forex market coverages seen in today’s industry. The selection, which covers seven cryptocurrencies and twelve commodities, will please active FX traders. For cross-asset hedging, there are 40 equities and index CFDs available. Exness offers its traders a market-leading selection of assets as a forex broker. The few equities it offers, meanwhile, would be frustrating for equity traders.
Types of Exness Accounts
On the Exness website, the contract description page displays five different account types; however, the Accounts category only lists four, with no ECN option. The Standard Account’s maximum leverage is 1:2000 and the minimum deposit is $10.
There is a $200 minimum deposit requirement for the Raw Spread, Zero, and Pro options, with the Pro account being the best choice for most traders due to its adaptable trading terms.
Standard Account Spreads on Majors, on Average
- USD/EUR: 1.1
- USD/GBP: 0.7
- JPY/USD: 1
- USD/AUD: 0.70
Creating a new account
You must first register with the broker in order to open an account. By entering your country of residence, a working email address, and a password, you will complete stage one.
A copy of the trader’s I.D. and one proof of residency document are required for the brokerage firm’s second mandatory procedure, account verification.
You will be taken to the My. Exness dashboard where you may select the trading account you want to open after entering your nationality, email address, and password.
You may see and open new accounts, access deposit and withdrawal choices, trading sites, bonuses, social trading, and other features via the My Exness personal section.
The USA, Malaysia, Vatican City, Israel, Syria, American Samoa, Puerto Rico, and North Korea are among the nations that Exness does not accept customers from.
Exness’ leverage is among its best qualities. On a Standard account, it can offer leverage of up to 1:2,000. However, as leverage has two sides, you should exercise caution.
- Users of Exness can trade on the popular MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, and the Internet.
- Exness offers users these services on its MT4 platform:
- 30 integrated indicators
- Order execution comes in two flavors: immediate and market.
- Auto-trading using MQL4
- Real-time rate updates are available.
Accessible to users of the Exness MetaTrader 5 trading platform are:
View 22 analytical tools and 38 built-in indicators.
Access fundamental analysis via a news and economic calendar that is integrated.
Up to 21 different timeframes are visible.
Create automated systems with MQL5.
The Exness Web Terminal, which has less capabilities but offers quick and simple trading functionality, is another option for trading.
To evaluate your plan, Exness offers a free demo account.
Users of Exness can trade using the MT4 and MT5 mobile trading applications for iOS and Android operating systems. The Google PlayStore, Apple AppStore, My: Exness Personal Area, and the broker’s website all offer direct download options for these.
Dividends and Spreads
The five account types listed below serve as the foundation for the intricate fee and commission system used by Exness. The circumstances on the Pro account are perhaps the most appealing to traders because the EUR/USD opens with a 0.6 pip commission-free markup. On overnight positions, swap rates and third-party deposit/withdrawal fees are both present.
Exness offers CFDs on stocks and indices, but it doesn’t disclose how it manages business operations like mergers, splits, or dividends.
A $5 monthly inactivity fee that had been in place prior to the most recent change to the terms and conditions on September 23, 2020 is no longer in effect. As a market maker, Exness gains directly from customer losses.
The Standard Account commission-free spread on the EUR/USD is 1 pip.
A commission-based option called the Raw Spread Account provides spreads as low as 0.0 pip for a minimum fee of $3.50 each side or $7.00 per round lot.
You can trade the EUR/USD with a 0.6 pip commission-free spread using the Pro account.
With commissions that vary based on the asset and generally wider spreads than the Raw Spread Account, the Zero Account shows a spread that is at or close to 0.0 pips.
Compared to the ECN Account, the commission-free Pro Account features wider spreads but reduced commission fees of $25. However, as was already indicated, the ECN account is not yet accessible.
Cash in and cash out
Exness allows a variety of payment options for deposits and withdrawals, including credit/debit cards, Neteller, Skrill, WebMoney, SticPay, Tether, and Bitcoin. The absence of bank wires as a funding option at this broker is a warning sign.
Regardless of the payment type, processing times are typically indicated as instant.
For Asian nations, Exness has the most cutting-edge payment methods, especially for China, Thailand, Indonesia, Vietnam, and Pakistan.
Local banks, internet transfers, mobile payments, e-wallets, credit cards, and other options are available to traders in these nations for making deposits.
The good news is that Exness will cover the entire transaction fee if traders utilize local payment systems, and they will be able to acquire a better exchange rate.
Promotions and Bonuses
Exness now provides a 10% net deposit bonus. Total deposits less total withdrawals equals the net deposit.
Exness advertises its accessibility on its website, via email, and by phone, and provides bilingual help. Assistance is offered seven days a week, twenty-four hours a day in Thai, Chinese, and English. The Exness Help Center makes an effort to respond to the most typical queries. Although there isn’t a live chat option, most traders won’t require much help.
Research and Education
Exness provides traders with good internal research, which might be the broker’s strongest suit. An extensive examination of significant forthcoming events and trading concepts may be found in the Weekly Forex Data section.
The twice-weekly technical review, which provides a thorough description of trades, is beneficial. Each report includes excellent written text, charts, and, to enhance internal analysis, an online TV live from Trading Central.
Completes this service is a live news feed.
The Exness Academy’s educational portion is well-designed and based on credible research. It is broken down into three parts, each of which features textual information, videos, and a quiz at the end.
If you are a newbie, you should read it because Exness emphasizes the need of education prior to trading. Educational videos in five languages with clear explanations provide another level of value.
Another fantastic tool for novice traders are one-hour webinars. Exness offers an excellent education program overall.
For live accounts with at least $500 or the equivalent in another currency, Exness offers free VPS hosting. This capability allows you to connect to their trading terminals from a distant terminal.
IB affiliate program for Exness
Exness provides introducing brokers and affiliate programs, two types of affiliate programs. For each trader you refer, the introducing broker program allows you to receive up to 40% of their revenue.
Join now and earn with the Exness IB Affiliate Program.
South Africa Exness
You’ll be relieved to learn that Exness South Africa welcomes customers from your country as a South African. However, there are no laws governing it in the nation.
301 ratings, 4.6 stars
up to 10%
Exness offers outstanding coverage with 107 currency pairs. Exness features a modest minimum deposit requirement and a maximum leverage of 1 to 2000.
CFD support. Your money is in danger.
Exness is in the midst of reorganization and has over twelve years of operating experience. The first action was the voluntarily ending of all retail business in Cyprus and the United Kingdom.
This broker talked about concentrating on business-to-business transactions and evolving into a fintech business that provides goods and services that help other brokers run their businesses.
It relocated all retail operations to Seychelles, where its Nymstar affiliate accepts customers with little limitations from all around the world.
All traders are welcome to use Exness with a $10 minimum investment. The largest leverage offered by this broker, which draws traders from all around the world, is 1:2,000.
The Pro Account offers the greatest trading circumstances for most traders, with minimum commission-free spreads of 0.6 pip.
107 currency pairs are available to active Forex traders, a quantity that leads the market, however the MT4/MT5 trading platforms are the standard versions.
Without external add-ons, they are without a competitive advantage. Exness is a leader in internal research and teaching, and internal VPS hosting makes automated trading solutions possible. Exness combines a number of excellent services with some limitations.
Each merchant must assess the advantages and disadvantages before deciding whether the total services are best for them.
Overview of Exness reviews
Exness is a simple, clear trading solution that is perfect for both new and seasoned traders because to the variety of accounts that are offered. These consist of raw-spread, commission-based, and commission-free accounts.
There are a remarkable amount of currency pairs accessible for trading, giving traders a wide range of alternatives. You can also trade on other asset classes, such as CFDs on U.S. equities, indexes, commodities, energy, and cryptocurrencies.
Is Exness a trustworthy forex dealer?
Exness offers the broadest coverage on the market with 107 currency pairs. The fee varies by account type, and the study and education are first-rate. Every trader must decide whether the overall level of service qualifies as a decent forex broker.
Exness is it governed?
Exness’ retail operations are under the supervision of the Seychelles Financial Services Authority (FSA). The business-to-business segment of Exness is supported by the U.K. Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
What steps must I take to fund my Exness account?
To fund a trading account, you can use a bank card, Perfect Money, WebMoney, Neteller, or Skrill.
How long does it take to withdraw from Exness?
Processing timeframes for withdrawals varies from immediately to 72 hours. The funds might not arrive for a longer period of time.
How much of an Exness deposit is required?
The smallest down payment is $10.
What is Exness’ maximum leverage?
Exness may leverage up to 1:2,000.
Exness is it controlled in South Africa?
No, all retail trading activities are only subject to regulation by the Seychelles Financial Services Authority (FSA).
Is Exness trustworthy?
Yes. All of this broker’s information, including trading volume, active customer count, client deposits, and corporate funds, is available on their websites.