Exness stands out as one of the largest brokers globally, recognized for its attractive trading conditions, robust security measures, and extensive range of assets. By reviewing Exness, it is clear that it has a client base exceeding 700,000 active traders, and the firm manages a staggering monthly trading volume that surpasses $4 trillion.
While it primarily focuses on currency pairs, Exness also provides CFDs on various assets, including stocks, commodities, indices, and cryptocurrencies. The broker accommodates traders of all skill levels by offering different account types—ranging from cent accounts and social trading options for newcomers to high leverage and Expert Advisor support for experienced traders.
Exness is licensed by several international regulatory bodies, including the highly regarded FCA and CySEC, ensuring client funds’ safety. Here, we have compiled an Exness review that highlights features such as round-the-clock customer support, quick withdrawal processes, competitive commissions and fees, and comprehensive analytics tools. Exness is dedicated to delivering an exceptional trading experience.
Exness Review – Pros and Cons
Exness Pros
- Traders like using the Exness Terminal web platform because of its clean and simple design, which makes it super easy to manage orders before and after trades.
- The Pro account from Exness gives you the option for both instant and market execution. One of my favourite features on the Exness Terminal is the drag-to-modify function for stop-loss or limit levels—it’s just so convenient.
- They also have two types of swap-free account statuses that cater to different trading styles, whether you’re day trading or holding positions overnight.
- Exness is quite a big player in the industry, with over 1,100 employees just in their Cyprus office.
- They offer a ton of currency pairs, with 45 different currencies available for your account balance.
- On top of that, Exness is part of the Financial Commission, which provides independent dispute resolution services.
Exness Cons
- Exness, with its top-tier licenses in the U.K. and Cyprus, does not cater to regular individual clients.
- The options for markets to trade at Exness are somewhat limited. Aside from the “Top Movers”, traders won’t find any preset filters to organize their watchlist by asset class.
- The Standard Cent account at Exness features higher spreads than other account types and restricts trading to only forex and metals.
- If an account balance goes negative, Exness can reset it to zero, but this depends on the company’s financial health.
- While some of Exness’s educational materials seem promotional, they generally offer good quality and are helpful for beginners.
- For those interested in social trading, Exness requires at least $500 to copy a strategy and $2,000 to become a strategy provider, which may pose a challenge for some users.
Tradable Instruments on Exness
Exness offers a broad selection of trading opportunities, catering to various trader needs and strategies. Traders can choose from commodities like precious metals and energy resources, which helps diversify their investment portfolios.
In the forex market, Exness provides an extensive range of currency pairs, enabling participation in trading major, minor, and exotic currencies. For those interested in digital assets, Exness allows trading in numerous cryptocurrency pairs without the need to own the actual digital currencies.
Furthermore, Exness includes indices, stocks, and options, providing traders with access to different market segments and strategies. This wide array of choices enables traders to diversify their investments, respond to market changes, and employ various currency trading techniques to achieve their financial objectives.
Exness Broker Review – Commissions and Fees
Exness offers a choice of five main accounts: two standard and three professional. There are also two special social copy trading accounts, called Social Standard and Social Pro, for those interested in sharing and copying trading strategies with others.
The cost of trading depends on which account you pick. Accounts with commissions have lower spreads, meaning the gap between buying and selling prices is smaller compared to those without commissions. All accounts operate with market execution, except for the Pro account, which provides both instant execution and market execution options.
The Standard Cent account comes with the highest spreads and the tighter risk management rules, especially concerning margin stop-out levels, and it uses market execution.
The Standard account improves slightly on spreads and relaxes the margin stop-out levels a bit, while also using market execution.
The Pro account offers even lower spreads than the commission-free options and lets you choose between instant execution, where trades happen at a set price, and market execution, where trades occur at the best available price.
Exness offers a “zero spread” account that comes with a $0.05 commission for each trade and provides market execution. There are no limits on leverage or stop-out levels, but margin calls kick in at 30%.
For the Raw account, the commission can go up to $7 for a round-turn lot ($3.5 per side), and it features tighter spreads along with market execution. Just like the zero spread account, there are no restrictions on leverage or stop-out, and margin calls also trigger at 30%.
You can deposit using various cryptocurrencies, which you can manage through the wallet section in the client portal.
Exness has an Active Trader program called the Premier Program, which offers different benefits based on your total lifetime deposits and quarterly trading volumes.
While there aren’t any discounts on spreads or commissions, there are three tiers you can qualify for:
- Preferred: If your total deposits are at least $20,000 and you have a trading volume of $50 million or more each quarter.
- Elite: If you have a minimum of $50,000 in deposits and a trading volume of $100 million or more.
- Signature: If your deposits reach at least $100,000 and your trading volume is $200 million or more.
Every membership level provides priority customer support, special educational content, trading analysis tools, and exclusive promotions and rewards from Exness. When you go for the higher tiers, they throw in lifestyle benefits too, like access to exclusive events and unique experiences that you can’t get anywhere else.
These lifestyle perks might be quite valuable if they align with what you enjoy and how you live.
Research and Education
Exness has set up a learning center aimed at helping traders sharpen their skills and knowledge. Although the educational material is solid, there’s potential for growth to keep up with the top players in the industry. You should be considerate of the following points:
- Learning Center Overview: Exness features a learning center that dives into a range of trading topics, from beginner guides to technical analysis and trading strategies.
- Educational Content Comparison: The existing content is useful, but expanding and diversifying it could help Exness compete with industry leaders who provide a wider array of resources.
- Progress in Education: Exness has made strides by offering educational materials that cater to traders at all levels, supporting both newcomers and seasoned pros.
- Content Sources: The learning center pulls from various sources, including articles and tutorials. Partnering with experts could boost the credibility and depth of the content.
- Areas for Improvement: The broker could work on delivering more advanced and specialized content, along with interactive features like webinars and quizzes to keep traders engaged.
- Video Focus: Adding more video content could create a more dynamic learning experience and appeal to different learning preferences.
While there’s a clear commitment to providing educational resources, enhancing the depth and variety of content, along with adding interactive elements, could take Exness’ educational platform to the next level.
Exness Trading Platforms
Exness has rolled out a selection of trading platforms designed to cater to the unique needs of traders. These platforms come packed with features, are easy to use, and work seamlessly across different devices, making trading a breeze. Here’s a quick look at what Exness offers:
Mobile Trading Apps
Exness provides mobile trading apps along with MT4 trading platform and MT5 trading platform for both Android and iOS. These apps allow traders to manage their accounts, place trades, and keep an eye on market trends while on the go.
Web Trading Apps
For those who prefer a browser-based experience, Exness has a web trading platform that you can access without needing to download any software. It’s all about convenience and easy access.
Desktop Trading Apps
When it comes to desktop trading, Exness supports the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are well-known for their robust charting tools, technical indicators, and support for algo trading.
Charting, User-Friendliness, and Extra Features
Both MT4 and MT5 come with advanced charting options, customizable indicators, and a user-friendly interface. Traders can use these platforms for manual trading, algorithmic strategies, and even copy trading with various plugins and features.
Exness’ trading platforms offer a solid variety for traders, including the widely used MT4 and MT5. This shows a strong commitment to providing excellent trading options.
Exness Customer Support
Exness offers customer support specifically designed for traders. Their services are available during both regular and extended hours, making it easier for traders in different time zones to get assistance. They provide multiple ways to communicate, such as live chat, email, and phone, allowing traders to choose the method they prefer.
Traders can also access a range of helpful resources, including FAQs, trading guides, and educational materials. This comprehensive approach shows Exness’s dedication to supporting traders and improving their overall trading experience.
Is Exness Safe or a Scam Broker?
Exness is known as a safe company, holding a Trust Score of 81 out of 99. While Exness isn’t publicly traded and doesn’t operate a bank, it is regulated by several regulatory authorities.
It has the endorsement of two top-tier regulators, which are highly trustworthy, and three second-tier regulators, which are also considered trustworthy. It lacks authorization from any third-tier regulators, which are viewed as average risk, but it is approved by three fourth-tier regulators, considered higher risk.
Among the top-tier regulators that authorize Exness is the Financial Conduct Authority (FCA), and it is also regulated within the European Union through the MiFID passporting system. More information about what a Trust Score means can be found if needed.
Exness Review – Deposit and Withdrawal Fees
Exness offers a straightforward way to deposit and withdraw money, ensuring convenience for traders. There are several options available for handling funds:
- Depositing Fees: Traders have multiple ways to add money to their accounts, such as bank transfers, credit or debit cards, and electronic wallets like Skrill and Neteller. Local payment systems can also be used.
- Withdrawing Fees: Typically, traders use the same methods to withdraw money as they do to deposit it, providing consistency and security.
Exness provides flexible options for both depositing and withdrawing funds, making it easier for traders to manage their money. By keeping fees low, Exness is an appealing option for traders focused on saving money.
Conclusion
By reviewing Exness, it stands out as a premier option for traders looking for a trustworthy and forward-thinking broker, thanks to its dedication to transparency, security, and ease of use.
With robust regulatory oversight, a wide array of trading instruments, and a focus on user experience, it serves as an essential ally in the trading adventure.