|Headquarters address:||1 Siafi Street, Portobello Office 401, Limassol 3042, Cyprus|
|Other locations:||Exness (UK) Ltd: 107 Cheapside, London EC2V 6DN United Kingdom
Nymstar Limited: F20, 1st floor, Eden Plaza, Eden Island, Seychelles
|Contact Tel:||+357 25 245 730|
|Contact email:||[email protected]|
|Licenses:||UK Financial Conduct Authority (FCA) – registration number 730729
Cyprus Securities and Exchange Commission (CySEC), license number 178/12
Seychelles Financial Services Authority, licence number SD 025
|Trading Platforms:||MT4, MT5, MT4 WebTerminal, mobile (iOS & Android)|
|Trading Volumes:||$550 billion (average monthly volumes 2020)|
|Broker Description:||Exness was founded in 2008, and has grown to become one of the largest Retail FX and CFD brands worldwide.
Exness has licensed brokers in the UK, Cyprus and Seychelles. In 2019 Exness announced that Exness UK and Exness CY would focus solely on institutional and B2B business. Most of Exness’ retail business is now centered in Asia.
Privately held Exness is one of the more transparent brands in the Retail FX realm, regularly releasing monthly client trading volume data as well as the number of active clients, client withdrawal amounts, the company’s own funds, and payments the company makes to partners (i.e. introducers). Exness has its client volumes, client withdrawal figures, own funds figures, and agent commissions paid reviewed each quarter by Deloitte.
What can you trade?
Multi-asset broker Exness offers one of the most comprehensive Forex market coverages seen in today’s market with 107 currency pairs available for trading, complemented with seven cryptocurrencies and twelve commodities. Cross-asset diversification exists via 30 stocks and 13 indices.
Pros / Cons
Exness Forex Review
The Standard Account shows the EUR/USD with an average of 1.0 pip commission-free spread.
The Raw Spread Account is a commission-based alternative, with spreads as low as 0.0 pips with a minimum cost of $3.50 per side or $7.00 per round lot.
The Pro Account grants access to a 0.6 pip commission-free spread for the EUR/USD.
The Zero Account lists the spreads at-or-near 0.0 pips for the top 30 instruments, with varying commissions depending on the asset, and overall higher spreads than the Raw Spread Account.
What did our traders think after reviewing the key criteria?
Exness’ fee and commission structure is based on the five account types offered by the broker. Most traders may find the conditions in the Pro account the most favourable ones, where the EUR/USD commences with a 0.6 pip commission-free mark-up. Keep in mind that swap rates on overnight positions and third-party deposit/withdrawal charges exist.
MT4/MT5 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Symbols.
2. Select the desired currency and then click on Properties located on the right side.
3. Scroll down until you see Swap Long and Swap Short.
Exness offers 5 account types – Standard, Standard Cent, Pro, Zero, and Raw Spread. The Standard account requires a minimum deposit of just $1. The Raw Spread, Zero, and Pro alternatives command an acceptable minimum deposit starting from $200. The Standard Account is recommended for newbies learning in a live trading environment. The Pro Account is the most competitive commission free variant at Exness.
Exness maintains the full suite of the MT4 and MT5 trading platforms, consisting of a desktop client, Webtrader, and mobile version.
Exness provides multilingual support and notes the availability on its official website, accessible via email and phone. English, Chinese, and Thai support are operational 24/7. Indonesian, Arabic, Japanese, French, Spanish, Portuguese, Russian, Hindi and Urdu are just some of the other languages included in the offering. The Exness Help Center attempts to answer the most common questions. There is also a chatbot available.
Exness offers a variety of payment methods, including international and local electronic payment systems, internal transfer, bank card, cryptocurrencies.
Minimal deposit in Exness
The Standard Account (including the Standard Cent account) requires a minimum deposit of just $1. The Raw Spread, Zero, and Pro alternatives command an acceptable minimum deposit starting from $200.
Exness offers a variety of videos, series of articles, insights, analysis, webinars – all these included in the Exness academy section on the broker’s official website. Suitable for both newbies and professional traders.
Free in-house VPS hosting
Exness offers a free in-house VPS hosting with one of the requirements being a minimum deposit of $500 – an acceptable offer for traders with automated trading solutions to consider.
Instant Deposits and Withdrawals
Deposits and withdrawals of client funds are processed instantly by Exness – meaning that transactions will be carried out within a few seconds without manual processing by financial department specialists – helping traders move money between accounts and an e-wallet with limitless agility. Internal transfers between accounts are instant as well, giving Exness clients full control over all their funds 24/7.
Negative Balance Protection
Traders using leverage may worry about their own liability should closing a position result in a negative balance in their trading account. In these cases, Exness always resets the trader’s account balance back to zero—there is no obligation to deposit more capital to cover the negative balance.
Low Spreads from 0 Pips
Exness spreads start from 0 pips for commission-based accounts and on average are around 0.1 to 1.3 for commission-free accounts.
Traders using any Exness account have access to margin trading, meaning they can leverage their capital to gain greater market exposure.
Trading Research and News
Exness offers trading news as well as analytical reports on a bevy of financial instruments through Trading Central.
Regulation & Deposit Protection
Exness is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). It should be noted that the aforementioned regulatory authority only applies to the business-to-business (B2B) division of Exness. All international retail clients trade with Nymstar Ltd which operates out of Seychelles and is authorised by the Seychelles Financial Services Authority (FSA).
Client funds remain segregated from corporate funds, and negative balance protection exists. Exness also publishes financial reports on its website, with Deloitte, a Big Four accountancy firm, as an independent external auditor.
Exness official site
How to open an Exness account?
Opening an account with Exness is quite easy – traders can complete the first step by submitting their country of residence and a valid email address, and by choosing a password. Per regulatory requirements, account verification is a mandatory procedure, usually satisfied by submitting a copy of the trader’s proof of identification, proof of residency document and by completing the form “economic profile”.
Processing time of deposits and withdrawals
Processing times of the deposit/withdrawal depend on the payment options but generally are marked as instant. Third-party fees may apply, and the name on the trading account and the payment processor must be identical.
Mobile version or app review
The MetaTrader 4 and 5 platforms are also available on a mobile trading app for Android and iOS systems. They can be downloaded directly from the broker’s website or the Google play and Apple Appstore. The app offers a variety of features including quotes, charts, an economic calendar, news and more.
Is Exness safe and reliable?
Exness brokers are licensed entities in several jurisdictions providing a high level of transparency and dependability. Any new trader must make sure that they do enough research and training on the platform before live trading can start. Once they have collected enough information to make an informed decision they can go ahead and start live trade. A lot of information can also be found in the Exness Education Academy on the broker’s website.
Exness provides a stable trading environment for those who cannot tolerate any interruptions or downtime within their trading strategies—an important variable in the success of algorithmic trading but also crucial for other traders as well.
Traders with an inquiry or account issue can get in touch with the broker’s customer support 24/7 via email or phone (in any of the languages supported), but also using live chat.
Who regulates Exness?
The Seychelles Financial Services Authority (FSA) regulates the retail operations of Exness. The UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) authorise the business-to-business division.
What’s the smallest amount I can deposit in order to start trading?
If you sign up for a Standard Cent Account or Standard, then you’ll be able to deposit as little as $1 to get started in the live markets, but you can also create a free demo account to test the ecosystem and its capabilities.
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