Exness Review 2020

Exness is popular among the financial industry because of its average fee, competitive spreads, advanced interfaces, transparent history, and excellent services. As these are the foremost priorities of forex traders while looking for brokers. Therefore, it is recognized as one of the best brokers in the world. This Exness review discloses every inch of the details of this broker.

Exness Review
4.4/5

79% of retail CFD accounts lose money

Short Summary

Minimum Deposit

$1 $

Assets

Forex, CFDs, Stocks, Indices, Metals, Energies.

Demo Account

Yes

Islamic Accounts

Yes

Caution: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Retail investor accounts lose money when trading CFDs with this broker. Your capital is always at risk.

Like every broker, Exness has also some good points as well as some bad points. However, the negativities are like an ant in front of an elephant. Have a look at the bright side and dark side of this broker.

Pros
  • Highly regulated
  • No commissions
  • Excellent services
Cons
  • Assets are just average
  • --
  • --

Introduction

79% of retail CFD accounts lose money

This broker is successful in making a mark in the list of finest and authentic brokers. Exness offers a variety of trading styles offering scalping, hedging, on MT4 and MT5 interface. According to some reports, it was found that there are almost more than 72000 active clients all over the globe.

Year Founded

Exness is working for a long time. 2008 was the lucky year for the professional traders as Exness was founded this year.

Owner

This company is the brand of Nymstar Limited which has a regulation with Seychelles.

Headquarters

Exness extended its network in the world after a great success in each country. This company has offices in the following countries.

  • UK
  • Seychelles
  • Auckland, New Zealand
  • Thailand
  • China
  • Malaysia
  • France
  • Russia
  • Germany

It has also work stations in many countries. However, most of the heavily traded and professional traders belong to the above-mentioned countries.

Choosing clients

Exness is although a famous international forex broker. However, like other brokers, it has also some exceptions to working with some countries.

Acceptable Clients

Clients from Pakistan, India, Europe, UK, and Australia are acceptable. Central Asian countries, Middle East countries, Arab countries, and China are also welcome.

Not Acceptable

Zimbabwe, Nigeria, and some African countries cannot enjoy the services of Exness. Clients from the USA are also not acceptable due to the strict anti-money laundering laws by the government of this country.

Regulation

79% of retail CFD accounts lose money

Exness review about its regulations is very impressive. It has a top tier regulation as well as other regulations. This company is registered under the legal entity of Nymstar Limited.

  • It is regulated by the Financial Conduct Authority of the United Kingdom. 730729 is the registration number of this broker by FCA.
  • 178/12 is the registration number of this broker provided by the Cyprus Securities and Exchange Commission (CySEC)
  • SD025 is the regulation number of Exness parent company under the name of Nymstar Ltd.
  • The Federal financial supervisory authority (BaFin).
  • The National Security Commission (CNMV).
  • Netherlands Authority for the Financial markets (AFM).

Safety

Regulation with the top tier financial authority and the long track record is the proof of the reliability of this broker.

  • All the financial reports and information is publicly available on the official website of this company.
  • Legal documentation is also available on the website.
  • This company is not listed on the Stock Exchange.
  • This company also gives negative balance protection to the retail clients of the UK and Europe.
  • Clients funds are held in segregated bank accounts to face the market volatility or the bankruptcy by the broker.
  • The history and client data of the traders are confidential.
  • Encryption of data is done for security reasons.

Assets

Exness review about offering of products is average. Exness offers a range of Forex, and CFDs on Metals, Energies, Indices, Cryptocurrency, and Real stocks.

  • Forex including almost 107 currency pairs. They include majors, minors, and exotics currency pairs.
  • CFDs Metals like XPDUSD.
  • Only US shares are available like Apple and eBay.
  • CFDs energies like USOil and UKOil.
  • CFDs indices like Germany 30 can be traded.
  • Cryptos like BTCUSD.
Currency Pairs
107
Shares & Indices
40
Energies & Metals
12
Cryptos
7

Fee and Margins

79% of retail CFD accounts lose money

Exness fee and margins depends upon the account type and the asset.

  • Fixed spread is not available
  • Minimum deposit is also low
  • Some accounts are commission-free

Assets

This fee includes commission charges, margins, and fees on leverages. Exness has an average type of trading fee which depends upon the account type.

Assets Spread Rate Margin
Currency Pair
0.25%
0.1 pip to 0.7 pip
Silver (Metal)
0.05%
2.2 pips
Germany 30(Indices)
1%
4.2 pips
Apple
5%
1 pips

These details do not specify the bid/ask rate or margin of every instrument. It is just an information of the most heavily traded product in the FX market. As it is described earlier, each product has a different spread rate and margin.

Assets

Exness offers a great leverage of 1:2000 which is a great edge for the professional traders. However, brokers of the UK are restricted from providing lower leverages like 1:30. Don’t forget more leverage means more risk that’s why big leverages are only provided to the

  • Professional traders. Like the spreads, commissions, and margins of Exness leverages are also subjected according to the account type.

Non-trading fee

This fee includes subscription charges or fees deducted when you are not trading.

  • They don’t deduct any kind of inactivity fee.
  • Withdrawal is free, deposit is free.

Account Opening

79% of retail CFD accounts lose money

Account opening is very easy at Exness. It offers different types of accounts.

  • Deposit fee is as low as 1USD
  • Account opening is easy and digital

Here are a few steps to open an account at Exness.

  • Go to the Official Website and click on the open account or new account.
  • You have to provide your country detail, email, and then you have to choose a password.
  • You have to choose your account type.
  • Provide your personal information.
  • Fill your KYC form. This KYC is important to know the personal, professional, and financial details of a client.
  • You need to provide your identity with proper confirmation. For this, you can use your national ID card, scanned color copy of your passport, or your driving license. A latest utility bill or bank statement from the past three months showing your address.

After some time you will able to fund your account. However, a virtual account will be provided to you for testing.

Types of Accounts

79% of retail CFD accounts lose money

Exness offers two types of accounts which are further sub-divided into 5 types of accounts.

Standard Account

 Let’s see the features of a standard account.

  • No commission on trading
  • You can trade FX currency pairs, Metals, Cryptocurrency and Indices
  • Average spreads start from 0.3 pip
  • 1:unlimited leverage is provided
  • Only 1USD is required for this

Standard Cent

Let’s see the feature of standard Cent.

  • It is best for beginners and novice traders.
  • Average spreads start from 0.3 pip
  • 1:unlimited leverage is provided
  • Only 1USD is required for this
  • Only Forex Currency pairs and Indices

Professional Account

This account has 3 more types of accounts.

Raw Spread

Let’s see the features of the raw spread professional account.

  • lowest raw spreads from 0.0 pips
  • low fixed commission.
  • 500 USD is the minimum deposit
  • Leverage up to 1:2000 is provided
  • Commission per lot/ side is up to 3.5 USD

Zero Account

Let’s see the features of the zero account.

  • 500 USD is the minimum deposit
  • Leverage up to 1:2000 is provided
  • Commission per lot/ side is up to 3.5 USD
  • Spreads are as low as 0.0 pips

Pro Account

Let’s see the features of the pro account.

  • 500 USD is the minimum deposit
    • Leverage up to 1:2000 is provided
    • No commissions
    • Spreads are as low as 0.1 pips
    • This type of account offers instant execution

Islamic Account

Exness also provides an Islamic account. This account is swap-free and does not deduct interest charges. This is according to the sharai rules for Muslim traders.

Deposits & Withdrawals

79% of retail CFD accounts lose money

Exness offers free deposit and withdrawal.

  • You can make transactions only by your accounts.
  • There is a minimum deposit fee. It depends upon the way you choose for depositing your cash.
  • Account opening fee is also very low.

You can fund your account with the following methods.

  • Bank Transfers.
  • Bitcoin
  • Credit and Debit Cards.
  • Electronic wallets like Neteller and Skrill.
  • AstroPay

For withdrawal, you can use the same methods you use for deposit. To withdraw you need to follow these steps.

  • Log in to your account.
  • Click on the option of withdrawing money.
  • Add your method and desired amount.
  • Initiate the process.

Withdraw takes almost 3 to 4 working days if a credit card is used.

Trading Platform

79% of retail CFD accounts lose money

Exness review about its trading platforms is good. It offers MetaTrader4, MetaTrader5, and WebTerminal which is the web version of MT4. Most of the people prefer to use MT4 and MT5 because of the easy and flexible terms and conditions of them. This software is easy to use.

MetaTrader 4

  • MetaTrader 4 was introduced to the market in 2005 by MetaQuotes.
  • MT4 has a wide range of assets.
  • It involves the feature of Expert advice.
  • MT4 provides 3 types of charting tools.
  • It facilitates by backtesting strategy.

Web Trading Platform (WebTerminal)

Have a look at the features of the web trading platform.

  • It is user friendly.
  • Fee reports and trading history are clear.
  • You cannot set price alerts
  • It has good customizability (for charts, workspace)
  • Design is old.
  • Search functions are good.
  • You can place only basic order types like market, stop, limit, Good till time and good till canceled.
  • It is available in a large number of languages. Lit looks like everyone can understand and use this software.
  • Login is a double step. Unlike other software, MT4 sounds safer.

Mobile Trading platform

Have a look at the mobile trading platform of this broker.

  • It has good customization.
  • MT4 mobile version is available on iOS, Android, and Linux.
  • Search functions are better than the web version of this platform.
  • You can set only basic order types like limit, market, stop and good till time. Good till canceled is also available. They are the same as that of the web version.
  • It is available in many languages also.
  • Login is a single step that is less safe.
  • You can set price alerts and notifications.
  • There is double-step verification for withdraw or depositing funds in your account.
  • The fee report is clear.

Desktop Trading platform

  • Have a look at the desktop trading platform of MT4.
  • It is almost as same as the web trading platform.
  • You can set basic order types like you can set in mobile and web version of it.
  • Search functions are just average.
  • You can set up price alerts and notifications. All you need is to enter your MetaQuotes ID.
  • It is outdated.

MetaTrader 5

  • MetaTrader 5 is also used. This software is a modified and developed form of MT4.
  • It gives a freedom of trading with advanced tools. It allows more than the basic order types.
  • MT5 has more number of indicators and charting tools. It has 38 indicators and more than 40 graphical tools.
  • It also offers a community chat group.
  • MT5 allows 6 pending order types that are only 4 in MT4.
  • It provides an excellent and quality economic calendar.
  • Strategy tester is multi-threaded but in MT4 is a single-threaded.
  • It has 21-time frames but in MT4 there are only 9.
  • Netting is also allowed in MT5. It means to have a position open of a single instrument.
  •  

Ratings of Platforms

  • Web Trading Platform- Excellent
  • Mobile Trading platform– Good
  • Desktop Trading Platform– Average

VPS Hosting

VPS is the abbreviation of a Virtual Private Server. It provides a speedy and uninterrupted connection to the internet, which is very necessary during trading. Cellular networks may cause some serious issues like you want to execute the trade. And you are unable because of a poor network connection.

  • A VPS may cost for 500 USD.
  • You can take it anywhere.
  • It prevents from network instability providing fast speeds.
  • It is portable and you can use it anywhere.

Research

79% of retail CFD accounts lose money

Exness review about its research is good.

  • They provide a Web TV.
  • An economic calendar providing all details of macro events is also available.
  • Newsfeed is also helpful.
  • There is a section of Analytics on the official website to guide you.
  • The research of the platform is also worthy. However, research reports of the MT4 mobile version is poor.
  • There is also a calculator for your self-assessment about your trading skills.
  • Many articles daily and weekly basis are also published by this broker based on researches.

Education

79% of retail CFD accounts lose money

Exness review about providing education to the traders is very good.

You can get an education easily if you visit the official site www.exness.com. There is a section of Education on the ribbon bar. It contains an Academy which is a proper guide from beginner level.

You can also try the,

  • Articles and blogs.
  • Platform tutorial videos
  • Trading tutorials
  • Webinars (short videos)
  • A demo account with virtual cash is also provided to test and enhance the skills of a trader.

Bonus and Promos

Exness review regarding bonuses and promos is not good. They usually do not offer bonuses and promotions.

Customer Services

79% of retail CFD accounts lose money

Exness review about the customer support of this broker is excellent.

We tested them in different ways and we find them efficient.

They are very relevant and responsive to their queries.

  • Customer support is multi-lingual. The official website contains 15 languages. Live supports 13 languages. English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Persian, Tamil, Vietnamese, Thai, Korean, and Spanish are the available languages.
  • It also provides a 24/7 service but only in English and Chinese.
  • You can contact email and live chat. They give fast and relevant answers in some seconds. However, e-mail is quite slow than live chat. But it does not exceed 24 hours.
  • Phone support is also available. The average connecting time is just a minute so sometimes less also.
  • Here are some of the official contact details of this broker.
  • Address: Nymstar Limited, F20, 1st Floor, Eden Plaza, Eden Island, Seychelles
  • Email: [email protected]
  • Official website exness.com

Exness Review

79% of retail CFD accounts lose money

Exness offers transparent pricing, competitive and low spreads, and best platforms. These qualities had distinguished this broker as a top broker. Now, this broker is working in many countries. Almost daily, more than 50 accounts are signed up. Overall, Exness review is 4.7 out of 5.

Forexscams.com provides essentials information regarding forex broker. For more broker reviews visit our website.

Feel free to contact us in any query.