Overview of Exness
Exness is a regulated trading platform that has been in operation since 2008. The broker provides access to a wide range of assets with competitive fees. Are you interested in signing up? Before you do, read our comprehensive review of Exness to learn more about its pros, cons, trading methods, and more.
Exness Review 2024: Legit or Scam?
Headquartered in Limassol, Cyprus, and managed by Nymstar, Exness also operates in the UK (for B2B only), Seychelles, South Africa, Curaçao & Sint Maarten, and the British Virgin Islands.
The broker is regulated and licensed in all these territories. Established in 2008, Exness boasts nearly $1 trillion in monthly trading volume as of 2021, making it one of the largest forex brokers in the world. The platform offers numerous financial instruments and its web platform is available in multiple languages, including English, French, Spanish, Simplified Chinese, Bengali, Korean, Thai, Vietnamese, Japanese, Arabic, and Urdu, among others.
Key Features
| Broker Type | Market Maker, ECN Broker |
|---|---|
| Regulation & Licensing | CySEC, FSA, FSCA, FCA, FSC, CBCS |
| Assets Offered | Forex, Stocks, Commodities (Precious Metals and Energies), Cryptocurrencies, Indices |
| Available Platforms | Exness Trader App (iOS and Android), Exness Terminal (Web Browser), MetaTrader 4 & 5 (Windows, macOS, Linux), MetaTrader Mobile (iOS and Android) |
| Mobile Compatibility | Yes |
| Payment & Withdrawal Options | Skrill, Debit/Credit Cards, Neteller, Perfect Money, USD Coin, Tether, Wire Transfer, WebMoney, MyBux, Ozow, SnapScan |
Quick Facts about Exness
- Founded: 2008
- Headquarters: Limassol, Cyprus
- Jurisdictions: Operates in 6 jurisdictions
- Active Clients: 281,279 (April 2022)
- Trading Volume: $2.105 trillion (April 2022)
Pros & Cons
| Pros | Cons |
|---|---|
| Free VPS hosting | 24/7 customer support available in limited languages |
| Instant withdrawals 24/7 depending on the method used | Minimal educational resources |
| Segregated accounts | US residents not accepted as clients |
| Islamic account options | |
| High maximum leverage | |
| Tight spreads | |
| Multiple trading platforms: MT4, MT5, MultiTerminal, Mobile Platform |
Is Trading with Exness Safe?
Exness operates under a robust regulatory framework, ensuring a secure trading environment. The broker is regulated by several top-tier financial authorities, providing assurance regarding the safety of client funds.
| Regulatory Body | License |
|---|---|
| Cyprus Securities and Exchange Commission (CySEC) | 178/12 |
| Seychelles Financial Services Authority (FSA) | SD025 |
| Financial Sector Conduct Authority (FSCA) | 51024 |
| Financial Conduct Authority (FCA) | 730729 |
| Financial Services Commission (FSC) | 2032226 (BVI), 176967 (MU) |
| Central Bank of Curaçao & Sint Maarten (CBCS) | 0003LSI |
Available Assets for Trading
Exness offers a moderate range of assets, including Forex, Stocks, Commodities (Precious Metals and Energies), Cryptocurrencies, and Indices.
Forex
Exness offers over 100 currency pairs, including major, minor, and exotic pairs, with some of the lowest spreads in the industry.
Stocks
The broker provides access to popular stocks like AMZN, TSLA, Verizon, Visa, and PepsiCo. However, the selection is limited compared to some other brokers.
Commodities
Exness offers trading in Gold, Silver, and Crude Oil. Other commodities like Wheat and Coffee are not available.
Cryptocurrencies
Exness supports trading in popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple.
Indices
The broker provides access to 10 indices, including FTSE 100, S&P 500, and Dow Jones Industrial Average.
| Asset Class | Available |
|---|---|
| Forex | Yes |
| Stocks | Yes |
| Commodities | Yes |
| Cryptocurrencies | Yes |
| Indices | Yes |
| ETFs | No |
| Futures | No |
| Bonds | No |
| Options | No |
Trading Platforms
Exness provides a variety of trading platforms designed to meet the diverse requirements of traders. These platforms are equipped with advanced tools and features, providing a seamless trading experience.
| Platform | Availability |
|---|---|
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Exness Trader | Yes |
| Web Terminal | Yes |
Platform Features
- MetaTrader 4 (MT4): Known for its user-friendly interface, advanced charting tools, and automated trading capabilities.
- MetaTrader 5 (MT5): Offers additional features like more timeframes, additional order types, and an integrated economic calendar.
- Exness Trader: A proprietary mobile app designed for traders on the go.
- Web Terminal: A web-based platform accessible from any browser without the need for software installation.
Account Types
Exness offers a range of account types to suit the needs of different traders. Each account type provides unique features and benefits, catering to various levels of trading experience and strategies.
| Account Type | Minimum Deposit | Spreads | Commission | Leverage | Assets |
|---|---|---|---|---|---|
| Standard | $1 | From 0.3 pips | None | Up to 1 | Forex, Metals, Cryptos, Energies, Stocks, Indices |
| Standard Cent | $1 | From 0.3 pips | None | Up to 1 | Forex, Metals |
| Pro | $200 | From 0.1 pips | None | Up to 1 | Forex, Metals, Cryptos, Energies, Stocks, Indices |
| Raw Spread | $500 | From 0 pips | $3.5/lot per side | Up to 1 | Forex, Metals, Cryptos, Energies, Stocks, Indices |
| Zero | $500 | 0 pips 95% of the day | $0.2/lot per side | Up to 1 | Forex, Metals, Cryptos, Energies, Stocks, Indices |
Commission and Fees
Exness aims to provide transparent and competitive pricing to its traders.
Trading Fees
- Spreads: Variable spreads that can be as low as 0.3 pips on Standard Accounts and lower on Pro and Zero Accounts.
- Commissions: No commissions on Standard Accounts. Raw Spread and Zero Accounts have fixed commissions per lot.
- Inactivity Fees: None.
Deposit and Withdrawal Fees
Exness does not charge deposit or withdrawal fees, but third-party charges may apply.
| Payment Method | Minimum Deposit | Deposit Speed | Minimum Withdrawal | Withdrawal Speed |
|---|---|---|---|---|
| Bitcoin | $10 | Up to 3 days | $10 | Up to 3 days |
| Bank Cards | $10 | Instant | $10 | Up to 10 days |
| Skrill | $10 | Within 5 hours | $10 | Up to 2 days |
| Neteller | $10 | Up to 3 days | $4 | Up to 5 days |
| Perfect Money | $50 | Up to 5 days | $2 | Up to 3 days |
| USD Coin | $10 | Up to 3 days | $100 | Up to 3 days |
| Tether | $10 | Up to 3 days | $100 | Up to 3 days |
| Wire Transfer | $10,000 | Up to 3 days | $10,000 | Up to 3 days |
Customer Support
Exness provides four customer support services:
- Help Center: Comprehensive FAQs covering various topics.
- Live Chat: Accessible directly from their website.
- Email: Available at support@exness.com with a typical response time of 24 hours.
- Phone: Exness has offices in the UK, Cyprus, Seychelles, South Africa, Curaçao, and the British Virgin Islands.
| Support Channel | Details |
|---|---|
| Languages Supported | English, Chinese, Thai, Swahili, Indonesian, Arabic, Hindi, Urdu, Bengali, Vietnamese, Japanese, Korean, French, Spanish, Portuguese, Russian |
| Customer Service Hours | 24/7 support available in English, Chinese, and Thai |
| Response Time for Email | Within 24 hours |
| Phone Support | Yes |
| Personal Account Manager | No |
Exness Account Opening Guide
Opening an account with Exness is straightforward and user-friendly.
- Visit the Exness Website: Click the “Open Account” button.
- Registration: Provide your email and region, then create a password.
- Choose Account Type: Select either a Demo or Real account.
- Verification: Provide additional information and documents for identity and residency verification.
- Start Trading: Once verified, fund your account and begin trading.
Demo Account
Exness offers a free demo account for practicing trading strategies with $10,000 in virtual funds.
Trading Tools and Features
Exness provides several tools and features to enhance the trading experience:
- Economic Calendar: Available on the website or app, tracking major news and economic events.
- Trading Central Signals: Helps in strategy development and planning.
- FXStreet Market News: Real-time market news updates.
- Trading Central Web TV: Live updates from the New York Stock Exchange.
Special Offers
Exness occasionally offers bonus credits that can be used for trading activities, though it does not provide regular sign-up bonuses or loyalty programs.
Conclusion
Exness stands out as a reliable broker with a user-friendly platform suitable for both beginners and experienced traders. With its strong regulatory framework, wide range of account types, and robust trading tools, Exness provides a secure and efficient trading environment.
Key Takeaways
- Established in 2008: Demonstrates longevity and legitimacy.
- Multiple Regulations: Ensures safety and reliability.
- Accessible for All Budgets: Low minimum deposit and tight spreads.
- No Withdrawal or Inactivity Fees: Cost-effective trading.
- Negative Balance Protection: Added security for traders.
- Variety of Trading Platforms: Options for web, desktop, and mobile users.
Whether you're looking to start trading, switch brokers, or diversify your trading portfolio, Exness offers a comprehensive and secure trading environment.
