Exness Review: Another Popular Broker among Traders

Exness is a top choice for many traders, largely due to its solid reputation in the industry. This broker stands out for its low spreads and high leverage. Moreover, Exness offers a competent support team that’s adept at resolving issues effectively. In this forex trading broker review, we will introduce you to a comprehensive review of Exness.

Exness: Overview

Established: 2008
Headquarter: Cyprus
Trading platforms: MetaTrader 4, 5
Mobile Trading: Yes
Account Minimum: Depends on payment system
Account Types: Standard, Raw Spread, Zero, Pro

Exness was founded in 2008. It has grown to serve over 145,000 users worldwide. Regulated by multiple financial authorities like the FCA, FSC, and CySEC, the platform offers customer capital segregation and protection against negative balances. This gives you an idea of how Exness works to ensure a secure trading environment.

Exness, a subsidiary of Nymstar outside of Seychelles, has been independently expanding its operations. As of December this year, the platform recorded 72,721 active global investors and a monthly trading volume of $325,800. Transparency is a core value for Exness, as evidenced by its annual financial reports audited by Deloitte.

Account Types of Exness

Exness has organized its account offerings into two separate categories to better cater to the diverse needs of its traders.

Standard Accounts

1. Standard

• Minimum Deposit: Depends on payment system
• Spread: From 0.3 pips
• Commission: No commission
• Maximum Leverage: 1:Unlimited
• Instruments: Forex, metals, cryptocurrencies, energies, stocks, indices

2. Standard Cent

• Minimum Deposit: Depends on payment system
• Spread: From 0.3 pips
• Commission: No commission
• Maximum Leverage: 1:Unlimited
• Instruments: Forex, metals

Professional Accounts

1. Raw Spread

• Minimum Deposit: $1,000
• Spread: From 0.0 pips
• Commission: Up to $3.50 each side per lot
• Maximum Leverage: 1:Unlimited
• Instruments: Forex, metals, cryptocurrencies, energies, stocks, indices

2. Zero

• Minimum Deposit: $1,000
• Spread: From 0.0 pips
• Commission: From $0.2 on each side per lot
• Maximum Leverage: 1:Unlimited
• Instruments: Forex, metals, cryptocurrencies, energies, stocks, indices

3. Pro

• Minimum Deposit: $1,000
• Spread: From 0.1 pips
• Commission: No commission
• Maximum Leverage: 1:Unlimited
• Instruments: Forex, metals, cryptocurrencies, energies, stocks, indices

Deposit & Withdrawal

Exness offers a comprehensive range of options for both depositing and withdrawing your funds. Popular choices among investors include using credit cards, traditional banking methods, and various e-wallets, even those that support cryptocurrencies.

Products in Exness

Exness specializes in the foreign currency market and offers a broader range of trading instruments for Exness traders. Here is the list of products:

• Forex
• Metals
• Cryptocurrencies
• Energies
• Stocks
• Indices

Trading Platform of Exness

When it comes to trading platforms, Exness offers a diverse range to suit different trading styles and preferences. Whether you’re a beginner or a seasoned trader, you’ll find a platform that fits your needs. Here’s a list of trading platforms you can access:

• Exness Trade App
• Exness Terminal
• MetaTrader 5
• MetaTrader 4
• MetaTrader WebTerminal
• MetaTrader mobile

Fees of Exness

Setting up an account with Exness is free of charge, and you only need a minimum deposit of $10 to get started, which is significantly lower than the $200 required by some other brokers. While there are no fees for deposits or withdrawals, it’s important to note that charges like miners’ fees could be applied to cryptocurrency, Perfect Money, Skrill, and USDT transactions.

Exness Promotions

Currently, Exness is not offering any promotions for new account openings.

Customer Support

The Exness offers multiple channels for getting in touch with their support team, which is available globally. You can use the help center, live chat, email, or phone. The team speaks multiple languages and is available 24/7, covering languages like English, Chinese, Thai, Vietnamese, and Swahili.

Pros & Cons

Pros Explained

• When you deposit $100, you can expect to get the full $100 back upon withdrawal, making the process transparent and fair.
• Exness offers competitive spreads, even on their specialized “zero” accounts. This is a significant advantage for traders looking to maximize their profits.
• The broker has a fast and smooth deposit/withdrawal process that traders can get into the market when they want to and cash out their profits without unnecessary delays.
• Exness provides 24/7 customer service through various channels, including chat support, phone service, and a live agent, ensuring that help is always at hand.
• The platform offers a wide array of financial instruments, giving traders the flexibility to diversify their portfolios.

Cons Explained

• Exness lacks extensive educational resources, making it less ideal for trading beginners compared to other platforms.
• Exness experiences frequent requotes, particularly during times of significant news events. This can be frustrating for traders who rely on timely execution, especially during volatile market conditions.
• While this broker excels in various areas, it doesn’t offer an extensive range of market analysis tools. For traders who depend on in-depth analysis for their strategies, this limitation could be difficult.
• Currently, Exness is not accessible to traders residing in Europe. This geographical restriction limits the broker’s reach and excludes a significant market of potential traders.

Is Exness Worth Considering?

Exness offers a range of features that make it a strong contender in the trading platform landscape. With its low minimum deposit requirement, competitive spreads, and quick financial transactions, it’s designed to cater to both novice and experienced traders. The platform also provides 24/7 customer support for traders.

However, Exness does have some limitations, such as a lack of comprehensive educational resources and limited market analysis tools. Additionally, it’s currently not accessible for traders in Europe.

If you’re looking for a platform with low entry barriers and a focus on quick, efficient trading, Exness is definitely worth considering. But if you’re a beginner who needs extensive educational content or a trader based in Europe, you might want to explore other options.

FAQs

Related Articles:

• IUX Markets: An Interesting Low Spread Forex Broker
• XTB: An Interesting Global Reach and Regulated Broker
• Tickmill: The Complete Broker Review and Tips
• Saxo Capital Markets: An Extensive Review of Its Capabilities

Read more: Broker Reviews