EXNESS BROKER REVIEW: Full Guide
EXNESS AT A GLANCE
Exness Group is an international forex and CFD broker focused on offering a repertoire of equities, indices, commodities, currencies, and cryptocurrencies. Since its emergence in the forex market in 2008, the broker has extended its reach from its headquarters in Limassol, Cyprus, to over 130 countries. Exness Broker has over 2,000 staff and many offices across Asia and Europe. Exness reviews in countries with the highest customer base have been steadily positive because of its multifaceted capabilities and quality customer service.
Exness is a versatile broker that can serve both inexperienced and seasoned traders. With the opportunity to trade on the Exness MetaTrader 4 and 5 and the Exness Trading Terminal platforms, traders can benefit from incredibly high leverage.
This Exness broker review further explains all you need to know about this broker.
Exness Broker Summary
Exness Broker Review
(This section covers everything you need to know about the broker’s supported countries, their customer service rating, and trading platform and trading accounts)
-Supported Countries
-Customer Service Rating
-Exness Trading Platform
-Type of Trading Accounts on Exness
-Trading Denomination
Company Structure
(This section covers what you need to know about the broker’s regulation and customer protection)
-Licenses and Regulation
-Customer Protection
Trading Information
(This section covers all the trading information you need to start trading with Exness)
-Tradable Instrument
-Exness Leverage
-Deposit
-Withdrawal
-Trading Education
Supported Countries
Exness Broker offers B2B financial services to European-certified institutions. However, the broker’s retail trading services are unavailable in Europe and the USA despite being available in other countries where the broker is licensed.
Similarly, Exness trading platforms are exclusive to traders from US territories. These areas include American Samoa, Baker Island, Guam, Howland Island, Jarvis Island, Johnston Atoll, Kingman Reef, Marshall Islands, Martinique, Midway Islands, Navassa Island, Northern Mariana Islands, Puerto Rico, Palmyra Atoll, US Virgin Islands, Vatican City, and Wake Island.
Exness platforms are also closed to retail traders in North Korea, Malaysia, Gibraltar, Curacao, Australia, Vanuatu, Seychelles, Russia, Israel, Iraq, Syria, Yemen, and Palestinian Territories.
However, citizens of these countries can access any Exness platform if they reside in authorized regions.
Customer Service Rating
Exness has a 4.5 rating based on 1,378 ratings on Trustpilot. This rating is above average, suggesting that the offerings and services of Exness Broker are commendable.
Many reviews reflect customers' appreciation of the broker's user-friendly interface, easy trading execution, and swift customer service. There are, however, a few recommendations on including some features in the desktop trading platform on the mobile app.
Exness Trading Platforms
Exness Broker affords its clientele various trading platforms, installable on a computer, an iOS, or an Android device. These platforms are:
This is a user-friendly design with features like watchlists, one-click trading, chart trading, and sentiment indicator. It also features market orders, pending orders, buy limit, buy stop, sell limit, sell stop, buy stop limit, sell stop limit, take profit, stop loss, and sophisticated charts from TradingView.
This is available on iOS and Android, with over 200 trading instruments. It offers an intuitive UI made for new users. The app's charting functionality includes line and candle chat, periods, and traditional indicators. It also supports market orders, pending orders, limit orders, stop-loss orders, market news, economic calendar, and trading suggestions.
It is accessible in 39 languages with cutting-edge features like copy trading and automated trading. It also offers features like alerts, watchlists, one-click trading, and trading from charts. Exness Metatrader 4 offers a repertoire of orders and charting features on the platform.
Coupled with the distinctive features of the MT4 platform, Exness MT5 is particularly popular for its copy trading and automated features. Exness MT5 also includes trading signals, and automated trading, enabling users to utilize Expert Advisors (EAs) programs.
On this platform, all a trader needs is an internet connection. It enables direct trading from any operating system and browser, featuring one-click trading, watchlists, chart trading, transaction history, and 30 technical analysis indicators. It also permits automatic and copy trading.
This features alerts, one-click trading, chart trading, and stop orders; however, only desktop users have access to trailing stop-loss orders. To alter the language of the MT4 app, the user must change the phone's settings to the preferred language. The Exness market also withholds the right to fix the bid and offer price.
Exness Account Types
Exness account types are specifically designed for beginners and professional traders; the broker also caters to specific religious regions. Exness trading accounts include:
Standard
The Standard account is specifically designed for beginners as it is the most accessible account on Exness because of its trading simplicity. The account is commission-free with a spread of at least 0.3, a minimum lot size of 0.01, and a maximum lot size of 200 (7:00 - 20:59 GMT+0) and 20 (21:00 - 6:59 GMT+0). Traders have access to unlimited positions to trade forex, metals, cryptocurrencies, energies, stocks, and indices.
Standard Cent
The Standard Cent account is also ideal for beginners; however, the trading volume here is measured in cents. The account is commission-free with a spread of at least 0.3, a minimum lot size of 0.01, and a maximum lot size of 200 (7:00 - 20:59 GMT+0) and 20 (21:00 - 6:59 GMT+0). Traders have access to 1000 maximum positions to trade forex and metals.
This account is an Exness micro account and is unique to Exness broker because it uses cents lots, a unique way of measuring the trading volume as cents instead of 1 unit of the base currency. Therefore, 1 cent lot is $1000 instead of $100,000 used for standard and professional accounts. The Exness micro account minimum deposit for a standard cent account depends on the Exness minimum deposit for your payment method which is usually for $10 for most methods.
Raw Spread
The Raw Spread account is ideal for professional traders. The minimum deposit here is $200 with a spread of 0.0 upwards. The commission is up to $3.50 for each side per lot, and its maximum leverage is unlimited. The minimum and maximum lot size is 0.01 and 200 (7:00 - 20:59 GMT+0), and 20 (21:00 - 6:59 GMT+0), respectively. On this account, there is no limit to the number of positions, and tradable instruments are forex, metals, cryptoсurrencies, energies, stocks, and indices.
Zero
The Zero account is ideal for professional traders. The minimum deposit is $200 with a spread of 0.0 upwards. The commission on this account starts from $0.01 per lot with unlimited leverage. The minimum and maximum lot size is 0.01 200 (7:00 - 20:59 GMT+0), and 20 (21:00 - 6:59 GMT+0), respectively. There is also no limit to the number of positions on this account, and tradable instruments are forex, metals, cryptoсurrencies, energies, stocks, and indices.
Pro
Yet another account ideal for professional traders. The minimum deposit here is $200 with a spread of 0.0 upwards. Pro Exness account types are commission-free with unlimited maximum leverage. The minimum and maximum lot size is 0.01 and 200 (7:00 - 20:59 GMT+0), and 20 (21:00 - 6:59 GMT+0), respectively. The positions on this platform are equally unlimited, and tradable instruments are forex and metals.
Demo Accounts
Exness provides demo accounts of its MetaTrader and Trading Terminal platforms. This account offers real-time prices and replicates real-time market conditions with assets such as forex and CFDs on stocks, commodities, and indices.
Islamic Accounts
This is a swap-free account available only to citizens of Islamic nations where the Sharia law is practiced.
Trading Denominations on Exness
There are 45 distinct base currencies in which Exness broker accounts can be denominated. These denominations include AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, RUB, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR.
Exness Licenses and Regulatory Compliance
Due to its presence in different regions, the Exness Group has different entities licensed and regulated by local regulatory bodies. So, where is Exness regulated?
UK
Exness (UK) Ltd is located in the United Kingdom and licensed by the FCA with license number 730729
Cyprus
Exness (Cy) Ltd. is located in Cyprus and licensed by CySEC with license number 178/12
South Africa
Exness South Africa - Exness ZA (PTY) Ltd.A (PTY) Ltd. is located in South Africa and licensed by the FSCA with license number 51024
Seychelles
Exness (SC) Ltd. is located in Seychelles and licensed by the FSA with license number SD025.
Curacao
Exness B.V. is located in Curacao and licensed by CBCS with license number 0003LSI.
British Virgin Islands
Exness (VG) Ltd is located in the British Virgin Islands and licensed by FSC with license number 2032226 and investment business license number SIBA/L/20/1133
Mauritius
Exness (MU) is located in Mauritius and licensed by the FSC with license number 176967.
Kenya
Tadenex Ltd. is located in Kenya and licensed by CMA with license number 162.
TRADING INFORMATION
Exness Broker provides distinct trading features that create a smooth trading experience. The broker boasts robust trading instruments and various deposit and withdrawal options.
Exness Leverage
A significant reason for Exness’ popularity is the leverage size they offer when trading on their platforms.
Exness' standard leverage is 1:2000, but it provides limitless leverage when the equity in the trading account is at least $1,000. However, The trader must also have closed five lots and have at least ten positions, excluding pending orders.
Tradable Instruments
Tradable instruments on Exness trading platforms include
- 100 Currency Pairs.
- 74 Stock CFDs.
- 33 Cryptocurrencies.
- 14 Commodity CFDs.
- 13 Indices.
Exness Withdrawals and Deposits
Deposits
Deposit Method | Minimum Deposit | Processing Time |
Bitcoin | $10 | < 3 days |
Bank Card | $10 | < 5 days |
Internet Banking | $10 | < 7 days |
Skrill | $10 | < 5 hours |
Neteller | $10 | < 1 hour |
Perfect Money | $50 | < 5 days |
USD Coin (USDC ERC20) | $10 | < 3 days |
Tether (USDT ERC20) | $10 | < 3 days |
Wire Transfer | $10000 | < 3 days |
Bank Transfer | $10 | < 24 hours |
Mybux | $10 | < 2 days |
Ozow | $10 | < 1 hour |
*Please note that Bank transfer options are not available in all countries.
Withdrawals
Withdrawal Method | Minimum Deposit | Processing Time |
Bitcoin | $10 | < 3 days |
Bank Card | $10 | < 10 days |
Internet Banking | $4 | < 7 days |
Skrill | $10 | < 2 days |
Neteller | $4 | < 5 days |
Perfect Money | $2 | < 3 days |
USD Coin (USDC ERC20) | $100 | < 3 days |
Tether (USDT ERC20) | $100 | < 3 days |
Webmoney | $1 | < 8 hours |
Mybux | $10 | < 7 days |
*There are rarely any Exness withdrawal problems, as withdrawals can be processed automatically, even on weekends.
More on Exness Deposits, Withdrawals, and Fees
Traders can make a minimum deposit of $10 and a minimum withdrawal of $1. It is also important to note that Exness does not charge deposit or withdrawal fees; however, the trader’s preferred financial service provider may charge a transaction fee.
There are rarely any Exness withdrawal hitches, as all withdrawal requests are processed instantly, even on weekends. While the withdrawal request is instantly processed, traders may wait 7 to 10 business days for the funds to reflect in their preferred account. It’s also important to note that traders can only withdraw funds into their personal accounts, as transfers to third-party accounts are banned by the broker.
The Exness minimum deposits on Exness depend on the trader's preferred banking option and deposits are usually processed within 7 days. Traders should note that bank transfer options are not available in all countries, and it's essential to know and use the best banking option from their geographical location to avoid transfer hitches.
For South African traders, the Rand is one of the accepted base account currencies on Exness and the Exness minimum deposit zar depends on the exchange rate. The current exchange rate puts the minimum deposit for Exness in Zar at about R171 ZAR for South African clients.
Exness Calculator
The exness calculator is another feature the broker offer, a handy and simple tool, the Exness Investment Calculator helps you to automatically calculate the basics of your trading position, which include margin, spread, commission, swap short, swap long, and pip value. Designed to help make your trading decision easier, this all-in-one calculator is particularly useful when you wish to determine the above values for multiple open positions on various instrument types.
Exness Trading Education and Training
Exness offers a variety of video courses, articles, and educational resources. The courses available at Exness Academy are:
How Trading Works
11 video lessons and 11 articles. The course is geared towards beginners, and it covers essential trading topics.
How to Analyze
10 video lessons and ten articles designed for intermediate-level traders.
Managing Risk
This consists of video lessons and seven articles for intermediate-level traders.
At the end of each course, participants are expected to take a brief assessment. There are also over 30 in-depth articles available on the broker Exness Knowledge Base with tutorial videos that address fundamental trading subjects like points and pips.
Customer Protection
Exness is subject to the Financial Commission, the body resolving financial market disputes. Hence, the broker is a party to the Compensation Fund, which serves as insurance for its clients. The compensation fund covers about €20,000 per client if the broker does not comply with the judgment of the Financial Commission.
Company Structure
Since its establishment in 2008, Exness Group has become an international broker with trading entities in different regions. Aside from its headquarters in Limassol, Cyprus, the broker has branches in South Africa, the British Virgin Islands, Seychelles, Curaçao, and London.
On many Exness broker reviews, the broker ranks as one of the best forex brokers. With its team Exness spread across different regions, Exness will cover more territories in the coming months.
FAQs
Is Exness a Scam?
Exness is not a scam because it complies with the relevant legal standards and authorities mentioned above.
How Do I Open an Exness Forex Trading Account?
Visit Exness and select "Open account" from the menu at the top of the page.
Can US Citizens Use Exness?
No, nationals and residents of the USA cannot use Exness Forex Broker. This means that you can’t use the broker even if you’re a USA national living in a non-restricted country. Exness reviews gathered that Exness also don’t accept national and residents of other countries like Puerto Rico, American Samoa, and Howland Island.
How Much Can I Deposit in Exness?
The broker doesn't place any limitations on deposits but there are certain restrictions based on the bank deposit method, the account type, and your country. Therefore, you should take note of the available exness deposit methods in your country before choosing a deposit method. The Exness minimum deposit requirement varies based on the deposit option starting as low as $10 and going as high as $10000.
*At Exness we do not place any limitations on the amount you deposit. (source)
How to Install Exness Metatrader 4?
Below are the exact steps to follow to install Exness Metatrader 4
Step 1: Download the MT4 installation file
Step 2: Run the file from your browser or double-click the installation file from where it downloaded.
Note that You can modify where you install MT4 by clicking Settings for your preferences, or simply click Next to agree to the End-User License Agreement and continue.
Does Exness Have Good Spreads?
Yes. Exness spreads are quite competitive, with 0.0 pips on its Raw Spread and Zero Account for 95% of the trading day, 0.1 pips on the Pro Account, and 0.3 pips on the Standard Accounts. Exness Pro Account has the best spread offering of 0.1 pips, with no commission fees.
How Do I Make an Exness Real Account?
You can create an Exness Real Account by following the step below.
Here is how to register on the web
Step 1: Visit Exness.com.
Step 2: Click on Open Account.
Step 3: Select your country of residence; this cannot be changed and will dictate which payment services are available to you. For example, the broker support local payment for traders with Exness ZAR accounts.
Step 4: Enter your email address.
Step 5: Create a password for your Exness account following the guidelines shown.
Step 6: Finish setting up your account
How Long Does it Take for a Withdrawal to Be Processed?
Withdrawal requests are processed instantly on Exness. However, it may take 7 to 10 business days for the funds to reflect in the trader's preferred account, especially if the exness maximum withdrawal request is $100. Please note that the exness withdrawal time may be faster for South African clients.
Conclusion
Exness is a credible and reputable FX and CFDs broker. It is ideal for beginners because of its user-friendly platform and training materials. On the other hand, advanced traders are drawn to the brokers' availability of high leverage, narrow spreads, sophisticated trading tools, and great Exness withdrawal review.
Other advantages of trading on Exness are low swap costs and the availability of social trading options. While Exness is a good forex broker, traders should know that offshore retail accounts are primarily unavailable and unregulated.
Comment below to review Exness for yourself once you've given it a try!
