Exness is a globally recognized forex broker operating in over 170 countries, offering a wide range of tradable assets including currencies, commodities, and cryptocurrencies.
With over 300,000 trades executed daily and a monthly trading volume of over $1 trillion, Exness is a high-volume broker known for its transparency.
Regulated by CySEC, FCA FSCA, and FSA, Exness adheres to strict financial standards in a variety of jurisdictions. In this Exness review, we take a closer look at the broker’s offerings and reveal the real Exness.
About Exness
Founded in 2008, Exness serves over 800,000 clients from regulated entities including the UK, Cyprus, South Africa, Kenya, Jordan, Seychelles, Mauritius, British Virgin Islands, and other offshore entities.
Exness has continually improved its offering and has grown significantly over the past five years, expanding its account offerings and launching its own web platform and social trading offering, which has helped it grow into one of the largest forex brokers in terms of staff and trading volume.
What type of broker is Exness?
Exness offers tight spreads and fast execution due to its market-making model. As a counterparty to clients’ operations, Exness has a potential conflict of interest that may lead to decisions that are not in the best interest of the client.
Exness is a leading forex broker founded in 2008 in St. Petersburg, Russia. The company is headquartered in Cyprus and is regulated by the FCA in the UK, the CYSEC in Cyprus, the FSCA in South Africa, and the FSA in Seychelles.
Exness is a market-making (MM) broker, meaning that it acts as a counterparty to clients in trading operations. This means that instead of directly connecting to the market, Exness acts as an intermediary and takes the opposite position from the client.
This allows it to offer faster order execution speeds, tighter spreads, and greater flexibility in terms of leverage.
However, this also means that Exness has a certain conflict of interest with clients, as it profits from the difference between the buy and sell prices of an asset, which may lead to decisions that are not necessarily in the best interest of the client.
Is Exness Legal?
Yes, Exness operates legally and is regulated by four regulators across four jurisdictions: ASIC in Australia, FCA in the UK, FSCA in South Africa, and FSA in Seychelles.
Exness is closely monitored by various governments and regulatory bodies in various regions and countries to ensure that it follows the rules and guidelines that keep financial markets fair and protect the interests of its clients.
Exness Review: Is Exness safe?
Exness is considered trustworthy with an overall trust score of 81 out of 99. Exness is not publicly traded, does not operate a bank, and is authorized by two Tier 1 regulators (high trust), three Tier 2 regulators (high trust), zero Tier 3 regulators (average risk), and three Tier 4 regulators (high risk).
Exness is authorized by the following Tier 1 regulators: The Financial Conduct Authority (FCA) and is regulated in the European Union through the MiFID passposting system.
Exness is a viable option if you live outside of the US, UK and EU.
While the product range is small, you can choose from a variety of account types, the full MetaTrader suite, or use the simple web terminal platform with innovative features for active and novice traders.
Exness has improved its business by leveraging its network of affiliates and clients to incentivize experienced traders to educate and market to new clients, as well as the less experienced community of beginners and intermediate investors.
I have truly enjoyed much of the content from Team Pro and believe that Exness is worthwhile in terms of education and marketing, but there are still challenges to overcome, including some practices that may not be permitted in more trustworthy jurisdictions.
Exness is a trustworthy broker, but retail clients board in less stringent jurisdictions where it is easier to conduct certain business practices in a looser regulatory environment.
Still, it is great to see Exness continuing to improve its trust score by acquiring new licenses around the world.
Exness is one of the largest forex brokers in the world by trading volume, handling trillions of dollars in trading volume.
If it continues to grow, it will hopefully start accepting retail clients from Tier-1 regulated jurisdictions, helping it to compete with Highly trusted brokers, boasting an impressive 4.7/5 rating on Trustpilot.
Exness Minimum Deposit
If you want to start trading with a very small amount, you can choose a Standard Cent account, which requires a minimum deposit of only $10.
A Standard Cent account gives you access to the smallest lot size, the Cent lot, allowing you to start trading on a variety of products with a margin of $10.
However, the actual minimum amount required to start trading will vary depending on several factors, including the account type you choose, the payment method you use to deposit, local regulations, and prevailing market conditions.
To be honest, Exness’ minimum deposit of $10 is relatively low compared to many other brokers in the industry, and while it is on the more accessible end of the spectrum, many brokers set their minimum deposits at $100 or more.
Here is a table showing how Exness’ minimum deposit compares to other brokers.
Exness Account Types
Exness offers Standard and Professional accounts. The Standard account is a feature-rich account that is suitable for all traders, including beginners, with no commissions, market execution, stable spreads, and no requotes.
The Pro account is an account that can meet the needs of experienced traders. It features very low spreads, even without any spreads.
The execution is suitable for scalpers, day traders, and algorithmic traders. The minimum deposit for the Professional account is $200.
Exness also offers two social trading account options for strategy providers: Social Standard and Social Pro.
The Social Standard account requires a minimum deposit of $500, offers spread starting from 1 pip, no commissions, a maximum leverage of 1:200, and supports Forex, Metals, and Cryptocurrencies.
The Social Pro account, tailored for professional strategy providers, requires a minimum deposit of $2000, but offers instant execution, spreads as low as 0.6 pips, no commissions, a maximum leverage of 1:200, and covers the same range of products.
Exness Trading Platforms
Exness offers traders a comprehensive trading platform that meets a variety of trading needs.
Traders can access MetaTrader 5 and MetaTrader 4 on their desktops or utilize the Exness Trade App, MetaTrader 5 Mobile, and MetaTrader 4 Mobile for trading on the go.
Web-based trading is also facilitated via the Exness Terminal, MetaTrader Web, and Web Terminal, allowing traders to access their accounts and trade directly from their web browser.
Clients can customize the platform to suit their needs and preferences and even access automated trading features via Exness VPS.
Exness Trading Tools
Exness offers traders a powerful set of trading tools. From staying ahead of economic events via the economic calendar to developing strategies via trading calculators and currency converters, Exness helps you make informed decisions.
In-depth historical data (tick history) and VPS hosting are also available for technical analysis enthusiasts, while Trading Central WebTV provides valuable insights from industry experts.
This comprehensive toolkit helps traders of all experience levels analyze market movements and make strategic trading decisions.
Education at Exness
Exness offers a variety of educational resources to help traders improve their understanding of the Forex market and trading techniques.
These resources include trading analysis tools that provide detailed information on trade results and help traders identify patterns and trends.
They also provide calculators to help traders calculate trading costs and potential profits.
The economic calendar and currency converter are also useful tools for traders who need to keep up with economic events and currency fluctuations.
Overall, Exness educational resources are a great way for traders to learn more about the markets and improve their trading strategies.
Exness Customer Service
Exness offers high-quality customer support in multiple languages and offers a variety of communication channels to meet the needs of its customers.
Users can contact the support team via live chat, email, and phone, some of which are available 24 hours a day, 7 days a week.
The support staff are highly trained and ready to help with any issues or questions that users may have.
Exness also offers a FAQ section on its website, which covers a variety of topics and common questions to help users find answers to their questions quickly and easily. However, the Exness website is only available in Chinese.
Conclusion
When looking for a broker that combines innovation, reliability, and trader-centric features, Exness stands out as an excellent choice.
With a focus on transparency and user-friendliness, Exness caters to traders of all levels. we looked at the key aspects of Exness and explained its unique strengths and why it is a preferred option among traders.
Exness is an ideal broker for both beginners and experienced traders, offering a wide range of trading tools and advanced features.
The user-friendly platform and competitive spreads make trading hassle-free, and the absence of commissions further enhances the value for traders.
The broker’s strong regulation and commitment to security instill confidence in traders, ensuring a safe trading environment.
FAQs
What trading platforms does Exness offer?
Exness offers popular trading platforms such as MT4 and MT5, which are known for their powerful features and user-friendly interface.
Are there any fees when trading with Exness?
No, Exness does not charge any fees, making it a cost-effective choice for traders.
What educational resources does Exness offer?
Exness does offer educational content, but there is room for improvement in providing more comprehensive resources for traders looking to enhance their knowledge.
Is Exness regulated?
Yes, Exness is regulated by a reputable authority, ensuring a safe trading environment.
How accessible is Exness’ customer support?
Exness offers customer support that is accessible during both standard and extended hours and offers multi-channel support and supplementary tools.