Introduction to Exness
Founded in 2008, Exness Group (Exness) maintains two legal entities within the European Union (EU): Exness UK Ltd, regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and Exness (Cy) Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC).
With a consistent monthly trading volume of approximately $300 billion, Exness is proud to be one of the top 5 forex brokers by trading volume globally.
License and Credibility of Exness
One of the key indicators of the credibility and safety of a forex trading platform is the authority that licenses and regulates it.
This is particularly important for new traders. It’s advisable to choose a platform that is properly licensed to minimize risks to your account. When you deposit money into your trading account, the broker essentially becomes the custodian of your funds, handling all your trades and safeguarding your money. An unreliable broker might complicate the withdrawal process or delay transactions due to poor liquidity, resulting in extended withdrawal times.
Regulatory authorities play a crucial role in ensuring a broker’s liquidity before granting a license. For instance, the FCA often requires brokers to maintain segregated accounts to ensure that client funds are not used for private or illegal purposes. Additionally, some regulators require brokers to have insurance to compensate clients in case of the broker’s insolvency.
To ensure its credibility, Exness has obtained licenses from top financial regulatory bodies, including the FCA and CySEC. Furthermore, Exness is also licensed by regulatory authorities in Spain, Italy, Sweden, the Netherlands, and Germany, allowing it to operate in these markets.
This regulatory oversight ensures that Exness maintains high standards of liquidity, transparency, and client fund protection, making it a trustworthy choice for traders worldwide.
Advantages of Exness
1. Extremely Fast Deposits and Withdrawals
One of the major advantages of Exness, and a primary reason why many traders from Vietnam and around the world choose this platform, is its extremely fast deposit and withdrawal process. At Exness, all deposit and withdrawal procedures are instantaneous and fully automated.
When you withdraw funds, it takes about 15-30 minutes for the money to be credited to your bank account, unlike some other platforms where it can take half a day or even several days. For greater convenience, it is recommended to use “Internet Banking” for deposits and withdrawals.
2. Low Spreads and No Commission for Pro and Zero Accounts
Exness offers a variety of six account types for its clients, including Standard, Standard Cent, ECN, Raw Spread, Pro, and Zero. Here are the details of these account types:
The “Standard” account is the most popular choice, featuring numerous benefits with no commission required, making it suitable for all traders, including beginners. Key highlights include market execution, stable spreads, and no requotes.
For those who prefer scalping or day trading and desire ultra-low spreads, the “Pro” or “Zero” accounts are excellent options, offering extremely low or even zero spreads.
2. Low Spreads and No Commission for Pro and Zero Accounts
Exness offers a variety of six account types for its clients, including Standard, Standard Cent, ECN, Raw Spread, Pro, and Zero. Here are the details of these account types:
The “Standard” account is the most popular choice, featuring numerous benefits with no commission required, making it suitable for all traders, including beginners. Key highlights include market execution, stable spreads, and no requotes.
For those who prefer scalping or day trading and desire ultra-low spreads, the “Pro” or “Zero” accounts are excellent options, offering extremely low or even zero spreads.
4. Unlimited High Leverage
Exness is one of the few forex brokers that offer the highest leverage ratio of 1: unlimited. This allows you to trade with almost zero margin on your open orders. Have you ever tried trading with nearly zero margin?
However, I do not recommend opting for excessively high leverage. While it can result in substantial profits, it also increases the risk of your account being wiped out quickly. Carefully consider and choose a leverage level that suits your ability and strategy.
5. Fast Support
Exness has a dedicated marketing, sales, and support team for global customers. If you need assistance, you can chat directly on the Exness website, where support is available 16 hours a day from Monday to Friday. You can also contact them directly at 18004974 or +357 25 030 959. With a wait time of only 1 to 2 minutes, there are always support staff from various countries ready to assist, so you don’t have to worry when trading at Exness.
Occasionally, you might encounter issues like price slippage or difficulties with deposits/withdrawals. Just report these to the support team, and Exness will provide timely and satisfactory solutions. Problems can arise at any forex broker, but the key is how the broker resolves these issues.
6. Exness Social Trading Platform
Exness Social Trading is a form of copy trade that allows you to replicate the trades of other traders.
Exness offers a list of copy strategies filtered by various criteria, such as:
- Most copied strategies
- Lowest risk strategies
- Highest profit strategies over 1 month, 3 months, and more
The copy trade account on Exness Social Trading uses the same account as your registered Exness account. However, the account used for trading and the account for copy trade must be funded separately. With copy trading, you don’t need to worry about selecting a specific account type. Just deposit funds and follow the strategy, and the Lot size will be automatically calculated based on your capital relative to the total capital of the strategy.
Disadvantages of Exness
Currently, Exness has limited promotional programs, bonuses, and competitions for its customers. This might make some traders feel they are missing out on additional benefits. Hopefully, in the future, Exness will improve in this area and offer more incentives and opportunities for both new and loyal customers.
Trading with Exness: Is it Safe? Broker Regulations
Investors always consider the safety and reliability of a broker. This is because traders and investors want to ensure their funds are secured in the safest possible manner. Reputable brokers are regulated by financial authorities to guarantee their reliability and trustworthiness. These international regulatory bodies ensure that the financial security of investors is protected.
Brokers like Exness operate globally under various regulatory organizations. In every region where they are active, they must adhere to the regulations of the local authority.
Exness is regulated by six global regulatory bodies. However, it’s important to note that in 2019, Exness shifted its focus from retail trading in the EU/EEA to B2B services. This means that individual investors in the UK and EU will need to look for another broker unless they are seeking a white-label solution.
Currently, two regulatory commissions (CySEC and FCA) oversee Exness in its B2B capacity. However, four other regulatory bodies allow individual traders from the rest of the world to trade safely.
On Trustpilot, Exness has received over 900 reviews, giving it an average rating of 3 out of 5 stars. This score is decent, though it is lower than some other brokers we have reviewed. It’s important to consider that most reviews on TrustPilot typically address customer support issues rather than the broker’s reliability, which we will discuss later.
Moreover, Exness has received numerous awards, including:
- Best Global Forex Customer Service 2019
- Best Global Forex Trading Experience 2019
- Most Reliable Global Forex Broker 2019 at the Global Forex Awards
Overall, Exness is a reliable broker that has been operating since 2008, with tens of thousands of satisfied customers.
Available Trading Instruments on Exness
Exness offers a variety of trading assets, but compared to some other brokers, their selection can be considered average. Here is a detailed look at the types of assets you can trade on Exness:
Forex
Exness offers more than 100 currency pairs, including major, minor, and exotic pairs. Notably, Exness provides some of the lowest spreads across most of their accounts. You can expect spreads as low as 0.3 pips on the standard account and zero spreads on their professional accounts.
Stocks
In terms of stocks, Exness offers popular stocks like AMZN, TSLA, and others such as Verizon, Visa, and PepsiCo. While the list is not as extensive as some other brokers like CMC Markets (which offers over 8,000 stocks), Exness still provides around 100 of the most popular stocks.
Commodities
Exness offers trading in precious metals and energy commodities, including gold, silver, and crude oil. However, commodities like wheat, coffee, and natural gas are not available. If you are looking to trade these commodities, Exness might not be the best choice for you.
Cryptocurrencies
Cryptocurrencies are a popular asset among new traders, and Exness offers a range of common cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
Indices
The list of indices on Exness is relatively short, with about 10 indices available. However, the most popular ones, such as FTSE 100, S&P 500, and Dow Jones Industrial Average, are available. Overall, Exness focuses more on forex and stocks than other instruments.
How to Trade with Exness
To start trading with Exness, you need to open an account and choose the platform that suits your needs. Exness offers a variety of trading platforms, including web-based platforms, mobile apps, and desktop software. Here are the available options:
Exness Trader App (iOS and Android)
The Exness Trader app is designed specifically for beginners, featuring a user-friendly interface and supporting over 200 trading instruments such as forex, gold, oil, indices, and more. This app allows for instant deposits and withdrawals and is compatible with both Apple and Android devices.
MetaTrader Mobile (iOS and Android)
MetaTrader Mobile offers MT4 and MT5 apps for Android users. These apps provide the same functionality as the desktop version and are designed for more experienced users, containing many advanced features.
Exness Web Terminal
The Exness Web Terminal is a browser-based platform that does not require any downloads or installations. It operates on all operating systems (Windows, macOS, Linux, and even mobile devices) using TradingView charting technology and offers over 50 drawing tools and 100 indicators.
MetaTrader WebTerminal
MetaTrader WebTerminal is another browser-based platform that does not require any downloads or installations. It works on all operating systems and provides 40 integrated, customizable indicators along with an economic calendar.
MetaTrader 4 and MetaTrader 5
MetaTrader 4 and 5 are the gold standard platforms in forex trading. MT5 is available on Windows, macOS, and Linux, offering advanced features such as trading robots, technical indicators, and MetaEditor. It supports over 200 trading instruments, 6 asset types, 5 account types, 8 pending order types, 21 timeframes, and 3 chart types, along with hedging systems, 38 available indicators, and 22 analysis tools.
MetaTrader 4 is also available for Windows, macOS, and Linux, offering similar advanced features with over 200 trading instruments, 6 asset types, 5 account types, 6 pending order types, 9 timeframes, 3 chart types, and 50 pre-installed indicators.
MT4 MultiTerminal
MT4 MultiTerminal allows users to monitor up to 128 trading accounts and up to 10 demo accounts simultaneously. This platform is only available on Windows and Linux, allowing for trading on multiple accounts and instruments with the same suffix across different account types.
How to Open an Exness Account? A Simple Guide
To trade with Exness, you need to open an account, and this process is straightforward. Here are the steps:
- Visit the Exness website: First, go to the Exness website and click on the “Open Account” button in the top right corner of the screen.
- Provide basic information: You will be asked to provide your email and region, then create a password.
- Log in and choose an account: After creating your account, you can log in. You have the option to start with a Demo account or go straight to a Real account.
- Verify the Real Account: When opening a Real account, you will need to provide additional information such as proof of identity and residence. Then, submit this information for Exness to verify. This process usually takes about a day.
- Deposit funds and start trading: Once your account is verified, you can deposit funds into your account and start trading.
Free Demo Account on Exness for Practice Trading
As mentioned, Exness offers a free Demo account for customers to test different trading strategies and get familiar with the platform before trading with real money. Users are given 10,000 USD in virtual funds to trade as they wish. When they feel comfortable and ready, they can switch to a Real account.
Free Exness Demo Account for Trading Practice
Exness offers free demo accounts for clients to test various strategies and familiarize themselves with the Exness platform before committing real money. Users are provided with a virtual balance of USD 10,000, which they can trade as they wish. Once they are comfortable using the platform and have developed their strategy, they can switch to a live account.
Exness Charting and Analysis Tools
Exness offers a variety of charting and analysis tools across its different platforms. Here are some key features that traders can leverage for better analysis and decision-making:
- TradingView Charting Technology: Exness’s web terminals and browser-based applications utilize TradingView charting technology, offering numerous drawing tools and indicators.
- Economic Calendar: Available on the website and the app, this tool helps users stay updated with significant news events, economic data releases, and market-moving events.
- Trading Signals from Trading Central: These signals assist clients in developing strategies and planning their trades by combining multiple analysis methods. Available through the Exness Trader app or the client’s personal area.
- Market News from FXStreet: This feature provides real-time market news directly in the app or through the client area, keeping traders informed about the latest market developments.
- T.C. Technical Analysis Indicator: A customizable, multilingual plugin that applies technical analysis strategies, forecasts, commentary, and key areas from Trading Central to live trading charts. It is compatible with the MetaTrader 4 desktop platform.
- Investment Calculator: This tool allows traders to automatically calculate their trading parameters based on details such as account type, instrument, lot size, leverage, and currency.
- Currency Converter: A useful tool for quick currency conversions, allowing for comparisons of up to six different currencies, including cryptocurrencies.
- Tick History: A repository of real-time price data. Traders can download historical bid and ask prices of an asset in a zip format for a specific time period.
While Exness does not provide extensive trading education, it offers a media room focused on significant financial events and a regularly updated blog with financial news and economic events, correlating with their economic calendar.
Lastly, Exness offers Trading Central Web T.V., which broadcasts the latest news directly from the New York Stock Exchange. The videos feature market commentary and potential trading ideas from Trading Central, offering traders valuable market insights. Videos are updated around 12:00 GMT each trading day, ensuring traders get timely information before market openings.
Exness Platform Features
Feature | Exness Web Terminal | MetaTrader 4 and 5 | Exness Mobile App |
---|---|---|---|
One-Click Trading | Yes | Yes | Yes |
Trading Directly from Charts | Yes | Yes | Yes |
Alerts via Email or Pop-Up | Yes | Yes | Yes |
Mobile Alerts | No | No | Yes |
Stop Orders | Yes | Yes | Yes |
Market Orders | Yes | Yes | Yes |
Trailing Stop | Yes | Yes | No |
OCO Orders (Once-Cancels-The-Order) | No | Requires EA | No |
Limit Orders | Yes | Yes | No |
24-Hour Trading | Yes | Yes | No |
Charting Package | Yes | Yes | Yes |
Online News Feed | Yes | Yes | Yes |
Exness platforms offer a comprehensive range of features, making it suitable for both beginner and experienced traders.
Exness Account Types
Exness offers a variety of account types tailored to different trading needs. There are two main standard account types: Standard and Standard Cent. Both accounts offer low spreads starting from 0.3 pips for some forex pairs. Additionally, these accounts have no commission fees and unlimited leverage, making them attractive options for traders.
Traders need to be cautious with unlimited leverage as it requires a strong understanding of margin to avoid significant losses. The Standard Cent account is ideal for those who want to trade forex and metals only, while the Standard account allows trading in all assets offered by Exness.
For more experienced traders, Exness provides three professional account types: Spread, Zero, and Pro. These accounts cater to scalpers and algorithmic traders with their attractive features. The minimum deposit for all three professional accounts is $500. Both Raw Spread and Zero accounts offer zero spreads with commissions starting from $0.2 per lot, while the Pro account features no commission and spreads starting from 0.1 pips. Again, the leverage is unlimited, which can be beneficial for seasoned traders who can manage it effectively.
Deposits & Withdrawals at Exness
Exness offers a more extensive range of deposit and withdrawal options compared to typical brokers. There are flexible local currency payment methods, including traditional bank cards and online banking.
Additionally, Exness provides popular electronic payment methods and even cryptocurrency wallets. Some of these include USD Coin, Tether, Webmoney, Neteller, and more. Below is a detailed table of their payment options:
The minimum deposit for each trading account (whether Standard or Pro) depends on your payment system. Most methods require a minimum deposit of $10, except for wire transfers, which require a minimum of $10,000. The processing time for deposits also varies by payment method. For instance, bank card transactions are instant, whereas methods like Perfect Money can take up to 5 days.
If customers wish to withdraw funds from their accounts, they must use one of the available payment methods. The minimum withdrawal amount also depends on the method, with processing times ranging from 8 hours to 7 days, depending on your choice.
Payment Method |
Minimum Deposit |
Deposit Speed |
Minimum Withdrawal |
Withdrawal Speed |
Bitcoin |
$10 |
Up to 3 days |
$10 |
Up to 3 days |
Bank Card |
$10 |
Up to 5 days |
$10 |
Up to 10 days |
Online Banking |
$10 |
Up to 7 days |
$4 |
Up to 7 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 (USDC ERC20) |
$10 |
Up to 3 days |
$100 |
Up to 3 days |
Tether (USDT ERC20) |
$10 |
Up to 3 days |
$100 |
Up to 3 days |
Wire Transfer |
$10,000 |
Up to 3 days |
– |
– |
Webmoney |
– |
– |
$1 |
Within 8 hours |
Mybux |
$10 |
Up to 2 days |
$10 |
Up to 7 days |
Ozow |
$10 |
Up to 5 days |
– |
– |
SnapScan |
$10 |
Up to 5 days |
– |
– |
Exness offers a diverse array of deposit and withdrawal methods, providing traders with flexibility and convenience in managing their funds. This extensive selection of payment options helps ensure a seamless trading experience.
Feature |
Description |
Supported Languages |
English, Chinese, Thai, Swahili, Indonesian, Arabic, Hindi, Urdu, Bengali, Vietnamese, Japanese, Korean, French, Spanish, Portuguese, Russian |
Customer Service Provided |
By Exness |
Customer Service Hours |
Support available 24/7 in English, Chinese, and Thai |
Email Response Time |
Within 24 hours |
Phone Support |
Available |
Personal Account Manager |
Not available |
Restricted Countries: Where Can’t I Trade with This Broker?
Citizens of certain specific countries are unable to trade with Exness due to various laws, regulations, and regulatory authorities in those countries. Exness considers a citizen as an individual belonging to a nationality based on their identification (passport).
Additionally, Exness does not accept residents from certain regions, considering residents as individuals living in a particular country.
Citizens and residents of the United States, American Samoa, Baker Island, Guam, Howland Island, Kingman Reef, Marshall Islands, Northern Mariana Islands, Puerto Rico, Midway Islands, Wake Island, Palmyra Atoll, Jarvis Island, Johnston Atoll, Navassa Island, Martinique, Vatican City, and the United States Virgin Islands are not accepted as clients by Exness.
We have also provided a list of other regions where customers residing in those areas will not be accepted:
- North America: Canada, Cuba
- South America: Uruguay
- Oceania: Australia, New Zealand, Vanuatu
- Asia: North Korea, Malaysia, Russia
- Europe: Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Ireland, Latvia, Liechtenstein, Lithuania, Belarus, Luxembourg, Malta, Monaco, Norway, Netherlands, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom
- Africa: Seychelles, Sudan, South Sudan
- Middle East: Iraq, Iran, Syria, Yemen, Israel, and Palestinian Territories
- British Overseas Territories: Gibraltar
- Dutch Territory: Curacao
Exness Review Conclusion
Exness has been operating for over 14 years, offering a user-friendly and comprehensive trading platform that is suitable for both beginner and advanced traders.
Exness has been in the market for over 14 years, providing an easy-to-use and all-inclusive trading platform, ideal for both novice and experienced traders.
Users can choose to use their proprietary platform or MetaTrader4 or MT5.
Exness offers a variety of account types, from retail to professional accounts. They also provide negative balance protection, which adds an extra level of security. They offer low spreads and do not charge withdrawal, deposit, or inactivity fees. Finally, you can trade currency pairs, cryptocurrencies, stocks, indices, and commodities, allowing you to diversify your portfolio effectively.
Summary and Key Takeaways
Exness is a reliable broker primarily dealing with forex and stocks. If you wish to trade a wide variety of cryptocurrencies or different commodities, this broker may not be for you. However, for forex trading, they offer accounts suitable for all types of traders and provide over 300 currency pairs to trade.
The minimum deposit for all accounts is generally not more than $10 if you use certain payment methods (Exness offers many of these methods). Additionally, they are regulated by several global authorities, making them highly reliable. However, it’s important to note that retail customers in the EU can no longer trade on their retail accounts as their service in that region is now focused on B2B.
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