Exness Review
Exness
Leverage: 1:30 | 1:1000
Min. Deposit: $10
Platforms: MT4, MT5
Regulation: SFSA, CBCS, FSC, FSCA
HQ: Seychelles, SA, UK
Found in: 2008
Exness Licenses:
- Exness (SC) Ltd – authorized by SFSA (Seychelles) license no. SD 025
- Exness B.V. – authorized by CBCS (Curaçao) license no. 0003LSI
- Exness (VG) Ltd – authorized by FSC (BVI) license no. SIBA/L/20/1133
- Exness ZA (PTY) Ltd – authorized by FSCA (SA) license no. 51024
- What is Exness?
- Exness Pros and Cons
- Awards
- Is Exness safe or a scam?
- Leverage
- Account opening
- Instruments
- Fees
- Spread
- Trading Platform
- Customer Support
- Education
- Conclusion
Our Review Method
- LowSpreadsFX leading experts with over 10 years experience in Forex Trading check trading conditions including fees, platforms, verified safety and contacted customer service to see trading conditions precisely and give expert opinion about Exness
What is Exness?
Exness is a Forex Broker brand name of the global brokerage firm that delivers its services through three main offices in Seychelles, BVI and South Africa. The divided nature of the firm enables international clients to access financial services and investment solutions, while the global brand operating retail and mainly corporate solutions or partnerships.- Exness also expanded its global reach and established a UK-based entity Exness UK Ltd which is also respectively and fully regulated and focusing on B2B proposal.
Exness Pros and Cons
Exness provides good trading environment and is authorized by various authorities including South Africa, however we see along time Exness before had CySEC and FCA liicense, while now mainly operates via SA license and international branches. The mainstay on MetaTrader technology provides quality execution, also we admit good research, education and analysis, which is good for various types of traders.
On the negative side there are some limitations in product offering with trading instruments only based on Forex and CFDs, also there is no multi-currency accounts while the proposal is different in each jurisdiction. Also, changes in regulations and Broker licenses enlarging changes and differences traders may see on trading accounts, thats why better to verify whether this is suitable for you.
| Advantages | Disadvantages |
|---|---|
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Exness Review Summary in 10 Points
Overall Exness Ranking
Based on our Expert finds, Exness provides good trading conditions suitable for various traders including African clients and good service for Forex beginners. Exness has good education and selection of platforms.
- Exness Overall Ranking is 8 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
| Ranking | Exness | HFM | OctaFX |
|---|---|---|---|
|
Our Ranking |
|
|
|
|
Advantages |
Platforms |
Excellent Trading |
Tools |
Exness Alternative Brokers
Yet, Exness does not offer very wide range of trading instruments, also is limited to propose European trading, since changed its licenses and mainly operating via international entities. Also, Spreads are within the average, some Brokers may have slightly lower spreads and better regulations, based on our findings.
See detailed Alternative Broker Reviews:
Awards
Along with its history of operation, we saw Exness before just had a few awards, for now company constanly growing and is awarded and recognized many times including different aspects like Customer satisfaction, trading technology and overall rankings recognizing its success.
Also, we found Exness takes an active role in social life, as well as acting as an honored sponsorship partner with various organizations. Alike, Exness was proudly sponsoring world’s number one football team, Real Madrid, and the best football player alive, Cristiano Ronaldo.
Is Exness scam or safe Broker?
No, Exness is not a scam it operates under relevant country’s legal requirements authorized by FSCA South Africa providing low risk Forex and CFDs. Click here to see Axiory which also offers traders access to the CFDs market.
Where is Exness Broker located?
Exness Group witht its presence in various countries and established offices is always regulated by necessary local authorities. Thus, the broker permitted to provide financial products or services within its activity via International trading proposal.
However, Exness licenses are changing, before it operate under CySEC license, for now mainly South Africa and an international one with a license from offshore Seychelles andd BVI, which rather provides just registration than serious regulation, yet additional licenses from reputable authorities make things and Exness offers reliable. The UK licenses and branch mainly operate b2b business for now tool.
See our conclusion on Exness Reliability:
- Our Ranked Exness Trust Score is 8 out 0f 10 for years of operation and quite good reputation. However, we recommend to check precisely conditions of regulation since Exness changed its entities and regulations several times, it is better to sign only with sharp regulations and avoid offshore entity for better safety
| Exness Strong Points | Exness Weak Points |
|---|---|
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How Are You Protected?
Leverage
As the majority of Forex brokers, Exness also offers to use leverage, which may increase potential gains through its possibility to multiple initial accounts balance.
Leverage levels always depending on the instrument you trade, as well defined by the regulatory restrictions and your personal level of proficiency.
Based on our research recent levels for Exness stays on European regulation levels:
- 1:30 for major currencies,
- 1:20 for minor ones
- 1:10 for commodities.
Yet, a global entity of Exness may allow much higher leverage ratios up to 1:1000, which are also defined by the country of your origin.
And of course, always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments.
Account Types
The accounts offered by Exness available with more than 80 currency options while the company provides instant payment options and offers Standard Cent Account which is great for traders of smaller size, Standard Account and Professional ECN Account with raw spread offering and commission charge per trade.
Also, you can open a demo account and test trading strategies or open a live account to enter forex markets live. Yet,traders of world jurisdictions may be subjected to different account offerings that range according to regulation and compliance, all in all Exness account offering our expert review find as quite good proposal comared to other brokers. See Exness Pros and Cons of Account below:
| Pros | Cons |
|---|---|
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Forex Contest
What we think is greta, there are additional features that enable the Exness customers that bring the possibility to compete and gain valuable prizes in the Forex trading Contest that performed from time to time. However, the traders’ residents of particular countries should check the availability and the possibility to engage on the official website.
How to open a Real trading account with Exness trader?
These are the main steps to get started and open Real Trading account, yet we recommend to start with Demo account and practice trading first.
Market Instruments
The markets that you can trade with Exness offers popular Forex with 107 currency pairs, CFDs on Stocks and Indices, Energies, Metals and Cryptocurrencies, which is considered good offering among the industry.
- Exness Markets Range Score is 8 out 0f 10 for good trading instrument selection, yet the only gap that different entities has different proposal reflecting instrument selection too
Exness Fees
Exness pricing is considered good with our review opinion, there are low spreads for standard account or commission for ECN account, also there is no funding fees, but be sure to check the inactivity fee or conditions based on your residence since they may vary. See our find on Exness Fee table below.
| Fees | Exness Fees | ETFinance Fees | OctaFX Fees |
|---|---|---|---|
|
Deposit fee |
No |
No |
No |
|
Withdrawal fee |
No |
No |
No |
|
Inactivity fee |
Yes |
Yes |
Yes |
|
Fee ranking |
Low/Average |
High |
Average |
Spreads
Exness spread is based on tight variable spreads, however it is defined by the account type you would choose for your trading. Standard Cent Account Spreads are starting from 0.3 pips with no commission on trading volume which means all trades are calculated in cents, the Standard account costs based on tight spreads from 0.1 pips.
Lastly, the Professional ECN account features raw spread plus the commission per trade making it a good option for experienced traers. See some of the examples below for a better understanding of Exness costs and comparison with other brokers, as well compare fees to another broker FBS.
- Exness Spreads are ranked average with overall rating 7 out of 10 based on our testing comparison to other brokers as you can see below, Exness spread is indeed the average one, as some brokers offer better spread conditions.
| Asset/ Pair | Exness Spread | ETFinance Spread | OctaFX Spread |
|---|---|---|---|
|
EUR USD Spread |
1.2 pips |
0.7 pips |
0.5 pips |
|
Crude Oil WTI Spread |
4 |
3 |
2 |
|
Gold Spread |
0.3 |
0.37 |
0.2 |
Rollover
Also, always consider Exness rollover or overnight fee as a cost, always good to check all additional fees to get better picturee. Rollover is charged on the positions held longer than a day. Each instrument charges a different quote for overnight positions, which may be as a fee or a refund, see sample on some of the instruments above.
Deposits and Withdrawals
Exness performs instant deposits and withdrawals with no commission charges using a number of electronic payment system that provides control over your trading account funding at convenience.
Deposit Options
The payment options including the possibility to use either method so you can always choose a suitable one. Exness typically does not charge any deposit fees or internal charges, you payment provider according to the residence might add on some fee, so make sure to verify it.
- Bank Wire Transfers
- major Credit Cards,
- e-systems Neteller and Skrill
Here are some good and negative points on XM funding methods found:
- Exness Funding Methods we ranked Good with overall rating 8 out of 10. Minimum deposit is considered very law only requiring 1$ as start, also Fees are reasonable or none, yet some payments might not be avaialble due to entity rules or your residency
| Exness Advantages | Exness Disadvantages |
|---|---|
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Exness Minimum deposit
Exness does not require a specific amount at the beginning, so you will be able to start as small as 10$. The professional account may demand though 200$, and of course check on the necessary margin requirements that are usually set for each trading instrument separately. Also, check on the payment methods, as some of them set a minimum transfer amount.
Exness minimum deposit vs other brokers
| Exness | Most Other Brokers | |
|---|---|---|
|
Minimum Deposit |
$10 |
$500 |
How to withdraw money from Exness?
Exness does not charge any fees either for deposits or withdrawals. Withdrawal options including so far most used Bank Wire and Cards, also check before any transfers are done with customer service in case there are any fees that may be applicable, due to your country of origin or maybe by the payment provider himself. See our funding snapshot below:
Trading Platforms
The trading platform choice offers the selection between industry leaders MetaTrader4 and MetaTrader5 along with mobile trading platforms and MT4 WebTerminal that allows access through any device, see our find of benefits and cons of the platform provided.
Platform Ratings
While both platforms are well known software in the industry, MetaTrader4 features a convenient and functional trading platform, and MT5 is a more developed version of the previous one with powerful features and new possibilities. You can access both via Web Trading or on other versions more suitable for your need, which is free from download or installation platform accessible via the browser.
Yet, Web version is always less advanced as desktop one, so if you develop a comprehensive strategy and need more customization and charting features go for the desktop version.
- Exness Tradingn Platform are ranked Good with overall rating 8 out of 10 compared to over 500 other brokers. We mark it good due to availability of different versions, yet limited to MetaTrader technology. We also would rank very welll provided research and available tools, copy trading, Robot Trading, EAs and quality execution.
Trading Platform Comparison to Other Brokers:
| Platforms | Exness Platforms | OctaFX Platforms | BDSwiss Platforms |
|---|---|---|---|
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MT4 |
Yes |
Yes |
Yes |
|
MT5 |
Yes |
No |
Yes |
|
Own Platform |
No |
No |
Yes |
|
Mobile Apps |
Yes |
Yes |
Yes |
Desktop platform
Both MT4 and MT5 support all devices including PC and MAC, so the choice is yours which platform you prefer to use either industry standard or its new developed version MT5. Good to mention again that each account supports both platforms, so there is no need to specify, you can use two at the same time, which is great.
What Trading styles are allowed?
Almost any trading style is allowed in Exness, making your prefered strategy available and possible to be performed at Exness which is a great plus. Besides there are numerous good tools in glossary, Technical analysis from Trading Central, high-quality VPS hosting, economical calendars, quotes history and most relevant news affecting the Forex market available via Dow Jones News, the leading provider of information in the world, hence included into the streaming line of the platforms.
Mobile Trading Platform
Thre are free and simple to use apps suitable for iPhone and Android devices, supporting MT5 and MT4 versions as well, so you can remain updated about trading on the go. Apps are highly regarded and well developed, so you can apply full customization on your phone, as well as check account status, request withdrawals and see fee reports, all from your mobile.
Customer Support
Lastly, together with comfortable conditions for trading, you will enjoy quite quality support that brings customer service in 13 languages available 24/5, and support 24/7 in English and Chinese.
- Customer Support in XM is ranked Good with overall rating 8 out of 1. Exness gained actually quite good rankings for its support and is recognized among financial markets for its excellence, also ranked via our test as good one too
See our find and Ranking on Customer Service Quality:
| Pros | Cons |
|---|---|
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Exness Education
Exness runs its own Exness Academy designed to support and educate traders from all over the world. There are developed learning materials designed by the level of experience and covering essentials and including further development by learning how to manage risks smarter and finishing up with the practice.
Is Exness good for beginners?
Exness provides free Demo account and quite quuality education materials, along with up-to-date financial news from Dow Jones, educational materials and Web TV with the latest updates. So we can concludie that Exness indeed is suitable for beginners, also platfroms are customer friendly making options eeasier for newbies.
- Exness Education overall rating is 9 out of 10 based on our research. We really like how Exness organizes the knowledge base and invest in its traders’ improvements. So the professional teams of Exness provide active traders with one-stop powerful tools. There you will find also research tools, fundamental analysis and technical research, along with weekly outlooks, trading ideas and many more.
Exness Review Conclusion
Overall Exness review concludes broker regulated by various jurisdictions that has evloved along the timee, yet changed its regulations and entities several time too. Exness was recognized timely for its achievements and high operational standards. From our perspective, apart from the availability of the Mini and Standard accounts that enables traders of any size to join and range of markets, education is on a very good level too, together with technical support from the industry-leading MT4 or MT5 platforms.
Ffor the downsides, we would advise to check conditions fully since they vary based on entity and international trading might not provide highest layers of safety like top-tier regulated broker provide. Besides, for now European clients can not sign with Exneess so is better to choose European Broker like HFM.
Based on Our Financial Expert Opinion Exness is Good for:
- Beginning Traders
- Traders who like MT4 and MT5 platform
- Currency and CFD Trading
- Run of EAs
- Suitable for a Variety of Trading Strategies
Exness Updates
We have found that Exness UK and EU entities based in Cyprus no longer offers trading services and accept new clients. Exness for now operates its newly opened branch in South Africa authorized by FSCA and via international subsidiary in offshore Seychelles.
We recommend traders to do their own research before signing in and open an account only with the regulated entity, for now it is only the South African Exness entity.