Exness

Editor's Score 4.1
Pros
  • Instant funds withdrawal.
  • A wide variety of deposit and withdrawal methods with 0% commission
  • MetaTrader 4, MetaTrader 5, mobile trading platforms, MT4 WebTerminal
Cons
  • Some customers complain of a slow MT5 platform.
  • Annoying popup Windows on the website.
  • Trading mobile app not compatible with some Android devices.
Min Deposit
$1
Max Leverage
1:2000
Mini Account
Bonus
35
Platforms
Withdrawal Options
  • Credit Card
  • Bank Transfer
  • Skrill, Netteller, WebMoney
  • Perfect Money, CashU

Review

Introduction

Exness is a reputable online Forex broker launched in Russia back in 2008. Since its launch, the company has grown to become a significant player in the industry of online Forex trading. The broker is known for its easy to use platforms and also a high level of transparency.

When it comes to market innovation, this Forex broker can be said to be an old-school broker since it is one of the few brokers in the industry who are yet to implement the concept of social networking. Nevertheless, traders still have a lot of confidence in Exness mainly because of its commitment to providing high-quality services.

  • Easy to use
  • Multiple languages
  • Regulated by the FCA and CySEC

Trading Conditions

Most online Forex brokers require traders to deposit a particular amount of money before they can begin trading. However, Exness's Mini account doesn't require a minimum initial deposit.

Exness offers some amazing spreads and commissions including variable as well as fixed spreads. Fixed spreads are common on the Classic and Mini Exness accounts amounting to approximately 2 and 1.7 pips on EUR/USD respectively.

On the other hand, variable spreads amount to up to EUR/USD 0.9 pips on average particularly on commission-free Exness accounts. Traders with ECN accounts enjoy spreads of up to EUR/USD 0.4 pips, but are charged a standard commission of about $2.5.

The best thing about Exness is that it offers flexible leverage levels. Leverage levels may range from 1:2 to 1:2000 and are highly depended on the traders’ equity. Traders with less amounts of money in their Exness accounts are subjected to higher leverage levels.

It is prudent, however, for traders to be mindful of high leverage levels since although they can multiply their profits, they can equally result to substantial losses.

  • Fast execution speed
  • Allows CFD trades
  • Flexible leverage
  • Regular bonuses and promotions
  • High leverage levels

Products

To cater for the various needs of all its traders, Exness offers a wide range of quality products. Clients have access to approximately 8 metal contracts and a total of 104 forex pairs. Also, the company provides multiple types of accounts to accommodate both beginner and advanced traders.

  • Up to 112 CFDs offered
  • Approximately 114 currency pairs offered

Regulation

Exness’s broker activities in the UK are supervised by the Financial Conduct Authority (FCA). In New Zealand, the company’s activities are regulated by the Financial Service Provider Register while CySec monitors and regulates Exness’s activities in Cyprus.

  • Regulated by the FCA in the UK. FCA (UK), 730729 (Exness (UK) Ltd).
  • CySEC under CySEC, 178/12 regulates the activities of the broker in Cyprus

Platforms

The broker offers its various services on both MetaTrader 4 and MetaTrader 5. The MetaTrader 4 platform is available in a web-based version, desktop version as well as mobile apps.

MetaTrader 5 is considered to be an improved version of MetaTrader 4. However, many online Forex brokers prefer the MetaTrader 4 platform because MetaTrader 5 doesn’t support hedging. Additionally, the MT5 platform does not support MT4’s Expert Advisors popularly known as EA. The two platforms (MT4 and MT5) are highly encrypted to safeguard the personal details of traders.

  • MT4 and MT5 trading platforms
  • Webtrader
  • Both MT4 and MT5 platforms are offered in multiple languages

Mobile Trading

From the comfort of their mobile devices, Exness traders are in a position to carry out almost all the functions of both MT4 and MT5 platforms. Thanks to Mobile trading, clients can complete various trading activities from anywhere in the world provided they are connected to the internet.

Traders especially those who are constantly on the move prefer mobile Forex trading because of its convenience and reliability. The fact that Exness supports mobile trading is a huge plus and the company will continue to enjoy an upward growth pattern.

  • Apple iOS App
  • Android App
  • Trading- CFDs and Forex
  • Mobile-friendly website
  • Easy to use website

Pricing

Pricing varies from one account type to another. Although Mini accounts don’t require traders to deposit a minimum amount, clients can only open about 100 positions at a go. Additionally, the spread might go up to 0.3, which is a bit higher compared to the 0.1 spread in the Classic and ECN accounts.

In Classic and ECN accounts, traders aren’t limited to a certain number of positions. The opening deposit of a Classic Exness account is about $2,000 while that of an ECN Exness account is $300. The three types of accounts have almost immediate trade execution.

Traders are free to open demo accounts for practice purposes before risking their money. Funds in demo accounts can be easily replenished by a simple filling of a request form.

  • Demo accounts available
  • Free technical analysis for both newbies and advanced traders
  • Almost immediate trade execution

Deposits & Withdrawals

Traders can deposit funds into their Exness accounts by Skrill, wire transfer, Neteller and many others.

Exness allows traders to automatically withdraw their funds through various electronic payment systems. This is a major plus because it gives traders total control over their funds around the clock.

Withdrawals are done almost immediately and funds can be easily returned through the same method used to deposit.

  • No minimum deposit
  • Leverage of 1:500

Customer Support

Exness offers customer support in up to thirteen different languages including German, Thai, Arabic, Russian, and Urdu. Client support in English and Chinese is offered round the clock, 24/7. Traders can get in touch with the broker through phone, emails, and live chat. The company also offers customer support by posting answers to FAQs on their website.

  • Support services are offered in multiple languages
  • Knowledgeable customer support
  • Live chat

Research & Education

The company offers research and education to traders majorly through third-party content. Its trading platforms are constantly updated with useful trading insights from Dow Jones News. Additionally, the broker provides informative video content to traders through the Trading Central WebTV.

The broker also provides traders with an economic calendar and a TradingAnalysis Trading Indicator. From the look of things, Exness doesn’t have in-house content since its Analytics section hasn’t been updated for months now. Although the company has some of the best third party research and education content, an improved in-house research and education system can go a long way to improve its presence on the market.

  • Forex News
  • Trading Central
  • Trade Ideas- Backtesting
  • Economic Calender
  • Newbie Trading Videos

Noteworthy Points

Exness guarantees low trading risks since it makes use of modern software and technologies. Additionally, traders are assured of maximum safety as well as speedy execution of orders; order execution occurs almost immediately.

The company offers over thirty ways of withdrawing and depositing cash. Importantly, most of its deposit and withdrawal systems are free. Exness also offers free VPS hosting and allows fast access to funds after a withdrawal request. Furthermore, the company regularly offers various bonuses and promotions to traders.

With its in-house webinars, this broker offers useful trading information to both beginner and experienced traders. Traders also have access to an insightful economic calendar and a resourceful TC.TechnicalAnalysis.

  • Provides free VPS services
  • A highly reputable broker
  • Easy to use

Conclusion

Exness offers a broad range of Forex pairs to traders and is considered to be one of the most reliable Forex brokers in the industry. It offers some amazing spreads as well as unmatched leverage levels. Thanks to its reasonable pricing and straightforward trading conditions, more and more traders prefer it over other brokers. Their website is multi-language and is full of informative content. Exness’s popularity is increasing by the day. This is evident from the influx of traders reported every year.

Comparison

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