Choosing the right broker is crucial for success in the fast-paced world of online trading. Exness, a globally recognized broker, has garnered significant attention with a reported hundreds of thousands of active clients and staggering monthly trading volumes exceeding $4.5 trillion as of September 2023. But does it live up to the hype? This comprehensive review examines Exness's platform, features, pros, cons, and overall suitability for different types of traders.
What Does Exness Offer?
Exness provides traders with access to a diverse range of financial instruments, including:
Forex: Trade a vast selection of currency pairs (over 90!).
Cryptocurrencies: Dive into the exciting world of digital assets with access to 10+ cryptocurrencies.
Metals: Trade precious metals like gold and silver.
Energies: Speculate on the price movements of oil and gas.
And More: Explore additional asset classes to diversify your portfolio. Beyond its broad asset selection, Exness boasts a variety of account types designed to cater to individual trading styles and experience levels. Whether you're a beginner or a seasoned professional, there's likely an account that fits your needs.
Expert Opinion: A Broker Built for Traders
Our expert analysis reveals that Exness stands out due to its commitment to innovation, reliability, and trader-centric design. The platform emphasizes transparency and user-friendliness, making it accessible to traders of all skill levels. This review provides a detailed breakdown of Exness's key features, highlighting its unique advantages and explaining why it's a popular choice among traders worldwide.
Exness shines as a versatile broker, equally appealing to newcomers and experienced traders. Its intuitive platform, combined with competitive spreads, streamlines the trading process. The absence of commission fees on some accounts is a significant advantage, maximizing potential returns. Moreover, Exness's strong regulatory framework and dedication to security provide a safe and trustworthy trading environment.
Pros and Cons: A Balanced Perspective
Like any platform, Exness has its strengths and weaknesses. Here's a balanced overview:
Pros:
Flexible Account Options: Choose from five distinct account types to match your trading style.
Low Minimum Deposit: Start trading with as little as $10.
Tight and Consistent Spreads: Benefit from competitive spreads, especially on Professional accounts.
Global Reach: Access over 70 MetaTrader servers worldwide for optimal connectivity.
Adjustable Leverage: Tailor your leverage to your risk appetite.
Swap-Free Trading: No overnight charges on most assets (a significant cost-saving feature).
Social Trading: Copy other successful traders strategies, or get comissions from your strategies.
Cons:
Limited Beginner Education: The platform could benefit from more comprehensive educational resources for new traders.
No Welcome Bonus: Unlike some brokers, Exness doesn't currently offer a welcome bonus.
Light Offshore Regulation: While Exness holds multiple regulatory licenses, some of its entities have lighter offshore oversight.
Exness Key Features and Highlights (2024)
Strong Regulation: Exness is regulated by several reputable financial authorities, ensuring a high level of security and compliance in many regions.
Wide Range of Instruments: Trade a diverse selection of assets, including Forex, Cryptocurrencies, Metals, and more.
Variable Spreads: Spreads on the Standard account can vary, with some being very competitive and others less so. Professional accounts offer tighter spreads.
Cutting-Edge Trading Platforms: Access the proprietary Exness Terminal, along with the popular MT4 and MT5 platforms, ideal for algorithmic trading.
Powerful Trading Tools: Benefit from a suite of tools, including Trading Central WebTV, VPS hosting, and historical tick data.
Social Trading Feature: Copy trades or Earn a comission.
Understanding Exness's Fees and Commissions
Exness offers a transparent fee structure with a variety of account types to suit different trading preferences. There are five main account categories: two Standard and three Professional. Additionally, two specialized Social Trading accounts (Social Standard and Social Pro) cater to those who want to share or copy trading strategies.
The costs associated with trading will vary depending on your chosen account type. Commission-based accounts generally offer lower spreads compared to commission-free accounts. All account types utilize market execution, except for the Pro account, which offers both instant and market execution options.
Here's a breakdown of the account types and their associated costs:
Standard Cent: This account features, comparatively, the highest spreads and more restrictive risk management regarding margin stopout levels, using market execution.
Standard: Similar to the Standard Cent account, but with slightly improved spreads, less restrictive margin stop-out levels, and market execution.
Pro: The Pro account boasts even lower spreads than the other commission-free options and allows switching between instant (dealer/market maker) and market (agency) execution.
Zero Spread: Exness's "zero spread" account charges a commission of $0.05 per trade and provides market execution. There are no restrictions on leverage or stop-out, but margin calls are triggered at 30%.
Raw: The Raw account also has a per-trade commission, up to $7 per round turn lot ($3.5 per side), and offers lower spreads with market
execution. It also has no restrictions on leverage or stop-out, with a 30% margin call trigger.
Cryptocurrency Deposits: Exness supports various cryptocurrency deposits, accessible through the client portal's wallet section.
Active Trader Program (Exness Premier Program)
Exness rewards high-volume traders through its Premier Program. This program offers various perks based on total lifetime deposits and quarterly trading volume. While there are no direct discounts on spreads or commissions, the program has three tiers:
Preferred: Requires $20,000+ in total deposits and $50 million+ in quarterly trading volume.
Elite: Requires $50,000+ in deposits and $100 million+ in volume.
Signature: Requires $100,000+ in deposits and $200 million+ in volume.
All tiers provide priority customer support, exclusive educational content, trading analytics, and special promotions. Higher tiers unlock lifestyle benefits like event access and unique experiences.
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Who is Exness For? A Broker for Every Trader
Exness caters to a wide spectrum of traders, from beginners taking their first steps to seasoned professionals seeking advanced tools and high leverage. The broker's diverse range of account types, trading platforms, and features make it a suitable choice for various trading styles, including:
Scalpers: Those who aim for small, quick profits from minor price fluctuations will appreciate Exness's 1-click trading feature and tight spreads (available on certain account types).
Day Traders: Traders who open and close positions within the same day can benefit from Exness's robust platform and the absence of overnight fees on most instruments.
Algorithmic (Algo) Traders: Exness provides free VPS (Virtual Private Server) hosting. This allows traders to run automated trading
strategies 24/7 without relying on their own computer or internet connection, ensuring consistent execution.
Social Traders: Copy trades or give signals to earn comissions.
New to Trading? Exness Has You Covered
Beginners can start with Exness's Cent account, which provides a low-risk environment to learn the ropes of live market trading. This account type grants access to the user-friendly Exness Trading Terminal, designed for simplicity and ease of use.
Experienced Traders: Unlock Advanced Features
For more experienced traders, Exness offers access to the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms provide a wealth of sophisticated charting tools, technical indicators, and the ability to implement complex trading strategies. Additionally, advanced traders seeking maximum leverage can utilize Exness's offshore entity, regulated by the FSA in Seychelles.
What Makes Exness Stand Out? The Exness Advantage
Exness has prioritized affordability and transparency for its clients. Several key features distinguish it from the competition:
Minimal Fees: Exness doesn't charge fees for deposits or withdrawals (though your chosen payment provider might). This helps maximize your trading capital.
Swap-Free Trading (Mostly): On most instruments, Exness waives swap fees (overnight financing charges), a significant benefit for traders holding positions overnight.
Transparent Pricing: Access readily available historical price data, including tick-level information, for all instruments. This transparency allows for in-depth market analysis.
Extensive Instrument Selection: Exness boasts a remarkably broad selection of instruments, particularly in the forex and cryptocurrency categories.
Proprietary Trading Terminal: The Exness Terminal is a unique offering, blending user-friendliness with advanced features like Trading Central analysis and customizable price alerts.
Trust and Security: Is Exness a Safe Broker?
Exness operates as a regulated broker, prioritizing a secure trading environment for its clients. The company's commitment to fraud prevention and fund security is central to its operations.
Robust Security Measures:
AML/KYC Compliance: Exness adheres to stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures. These procedures verify client identities and help prevent illegal activities.
Advanced Monitoring: The broker utilizes cutting-edge technology to monitor transactions and identify any suspicious activity, ensuring the integrity of the trading platform.
Multi-Factor Authentication: Exness employs multi-factor authentication to protect client accounts from unauthorized access, adding an extra layer of security.
Client Fund Protection:
Segregated Accounts: Client funds are kept separate from Exness's operational funds in segregated accounts. This crucial measure ensures that client money is not used for the company's business expenses.
Regulatory Oversight: Exness is regulated by several respected authorities. This regulation requires adherence to strict financial standards, including maintaining sufficient capital reserves to safeguard client funds.
Exness Regulatory Compliance:
Regulatory Body Statu s
ASIC No
CySEC Yes
DFSA No
EFSA No
FCA Yes
FMA No
FSA (SC) Yes
FSCA Yes
FSC Yes
JFSA No
MAS No
MiFID Yes
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Customer Support: Putting Exness to the Test
Reliable customer support is essential for any trader, whether you're a beginner needing platform guidance or an experienced trader requiring urgent assistance.
We conducted a thorough test of Exness's customer support over a two-week period. The live chat feature consistently provided responses within a minute. Email inquiries were also answered promptly.
Our questions covered a wide range, from basic fee inquiries to more complex topics related to platforms, tools, and regulations. Overall, our experience with both chat and email support was positive, with our questions receiving satisfactory and informative answers.
How to Open an Exness Trading Account: A Step-by-Step Guide
Opening a trading account with Exness is a straightforward process. This guide provides a clear, step-by-step walkthrough, along with helpful tips to ensure a smooth experience.
Step 1: Head to the Exness Website
Begin by visiting the official Exness website using your preferred web browser, whether on your computer or mobile device. You'll easily spot a prominent "Open Account" or "Sign Up" button on the homepage. Click this button to initiate the account creation process.
Step 2: Provide Your Basic Information
You'll be prompted to enter some essential details:
Country of Residence: Select your current country of residence.
Email Address: Provide a valid email address that you can access.
Password: Create a strong password for your account (more on this below).
Partner Code (Optional): If you were referred by an Exness partner, enter their code here to link your account.
Finally, confirm that you are not a U.S. citizen by checking the appropriate box, and then click "Continue." Choose wich type of account you want to open in the next prompt.
Step 3: Access Your Personal Area
Once you've completed the initial registration, you'll be directed to your personal area within the Exness platform. Look for the option to "Open New Account" and click it.
Step 4: Select Your Ideal Account Type
Exness offers a variety of account types, both Standard and Professional, designed to cater to different trading styles and experience levels. Carefully review the list and choose the account that best aligns with your needs and preferences.
Step 5: Configure Your New Trading Account
This is where you customize your account settings. You'll need to specify:
Account Type: Confirm your chosen account type (e.g., Standard, Pro, Raw Spread, etc.).
Trading Platform: Select either MetaTrader 4 (MT4) or MetaTrader 5 (MT5).
Maximum Leverage: Choose your desired leverage level (remembering that higher leverage increases both potential profits and risks).
Spread: Take note about the spread model of the account type you choose.
Starting Balance: Indicate your initial deposit amount (this may vary depending on the account type).
Account Currency: Select the base currency for your account (e.g., USD, EUR, GBP).
Account Nickname (Optional): Create a nickname for easy identification of your account.
Trading Password: Set a strong password specifically for trading on your chosen platform. Once you've configured all these settings, click "Create an Account" to submit your request.
Essential Tips for a Smooth Account Opening Experience
Choose Wisely: Selecting the right account type is crucial. Consider your trading style, how much capital you plan to invest, and your risk tolerance. Don't hesitate to compare the different account options before making a decision.
Verify Your Account Promptly: Complete the Exness account verification process as soon as possible. This typically involves providing proof of identity and address. Verification is essential for smooth withdrawals and full account functionality.
Start with a Demo Account: If you're new to trading, strongly consider opening a demo account first. This allows you to practice with virtual funds in a risk-free environment, familiarizing yourself with the platform and testing your strategies.
Create a Strong Password: Security is paramount. Your password should be unique, complex, and include a combination of uppercase and lowercase letters, numbers, and symbols. Avoid using easily guessable information.
Use the Educational resources: Take the time to explore the platform.
Deposits and Withdrawals: Streamlined and Fee-Free
Exness aims to make funding your account and withdrawing your profits as convenient as possible. Importantly, Exness does not charge any fees for deposits or withdrawals. The minimum and maximum deposit amounts vary depending on the account type and payment method selected. For instance the Standard Account have not a minimum deposit amount, it will depend of
the paymenthod used. Maximum deposit ammounts can vary from $10,000 to $10,000,000.
Available Payment Methods (approximate limits, may vary):
Visa/Mastercard: $10 to $10,000
Neteller: $10 to $50,000
Skrill: $10 to $50,000
Wire Transfer: No Limit
BTC: $10 to $10,000,000
Perfect Money: $10 to $10,000
SticPay: $10 to $10,000
Binance Pay: $10 to $20,000
Tether (USDT TRC20): $10 to $10,000,000
Tether (USDT ERC20): $10 to $10,000,000
USD Coin (USDC ERC20): $10 to $10,000,000
Account Currency Options:
When opening a trading account with Exness, you'll choose a base currency. This is the currency in which your funds will be held for that particular account. Exness offers a wide array of currency options:
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, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR.
Pro Tip: To minimize potential conversion fees, consider creating accounts in USD, EUR, or JPY, as these currencies are widely accepted for both deposits and withdrawals.
Leverage and Margin with Exness
Exness offers leveraged trading, allowing you to control larger positions with a smaller initial investment. The amount of leverage available depends on your account type and the jurisdiction under which your account is regulated. For example, traders in Qatar fall under the FSA (Seychelles) jurisdiction,
where Exness offers up to 1:unlimited leverage (subject to certain conditions).
Leverage by Jurisdiction:
It's important to note the maximum leverage available varies significantly based on regulatory jurisdiction:
CySEC (Cyprus): 2:1 to 30:1
ASIC (Australia): 2:1 to 30:1
FSA (Seychelles): 1:1 to Unlimited (conditions apply) or 2000:1
CMA (Kenya): Up to 400:1
CBCS (Curacao and Sint Maarten): 1:1 to Unlimited (conditions apply) or 2000:1
FSC (BVI - British Virgin Islands): 1:1 to Unlimited (conditions apply) or 2000:1
Important Note: Exness currently accepts retail clients primarily through four jurisdictions: CMA (Kenya - Exness (KE)), FSA Seychelles (Exness (SC) LTD), CBCS (Exness B.V.), and FSC in BVI.
Margin Call and Stop-Out Levels: Protecting Your Account
Exness employs margin calls and stop-outs to help manage risk. A margin call is a warning that your account equity is approaching the minimum required level to keep your positions open. The margin call level at Exness varies between 30% and 60%, depending on your account type. Equity is calculated as your account balance plus any open profit or loss.
A stop-out occurs when your equity falls below a certain percentage, and your open positions are automatically closed to prevent further losses. Exness's stop-out level is generally 0% for most account types.
Margin Call and Stop-Out Levels by Account Type:
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Kenyan Client Exception: For Kenyan clients trading through Exness (KE), the stop-out level is 20%, and mid-price Stop Out Protection is not available.
Trading Options and Facilities: Flexibility for Your Strategy
Exness provides a comprehensive suite of trading options to accommodate various strategies:
Scalping: Permitted.
Hedging: Permitted.
Expert Advisors (EAs): Permitted.
Stop and Limit Orders: Supported.
Trading Robots: Supported.
Platforms and Trading Tools: Your Gateway to the Markets
Exness supports the globally recognized MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are known for their advanced charting capabilities, technical indicators, and customizable interfaces. Exness also offers its own proprietary platforms for added flexibility. You can access Exness's services on:
MetaTrader 5 (MT5)
MetaTrader 4 (MT4)
Exness Trade App
MetaTrader 5 Mobile
MetaTrader 4 Mobile
Exness Terminal (Web-Based)
MetaTrader WebTerminal
Final Thoughts: A Growing Broker with Global Reach
Exness presents a compelling option for traders residing outside the U.S., U.K., and EU. While its product range might be considered somewhat limited, the broker offers a diverse selection of account types, the complete MetaTrader suite, and a user-friendly web-based Terminal with innovative features for both active and beginner traders.
Exness has cultivated a strong community by incentivizing experienced traders to mentor less experienced investors, while simultaneously expanding its customer base. The educational content produced in collaboration with "Team Pro" is genuinely valuable, demonstrating a commitment to both education and marketing. However, Exness still faces some challenges, particularly concerning certain practices that might not be allowed in more strictly regulated jurisdictions.
Although Exness is considered a trustworthy broker, many retail clients are onboarded under jurisdictions with less stringent regulations. This allows for greater operational flexibility but may raise concerns for some traders. It's encouraging to see Exness actively acquiring new licenses globally, enhancing its overall trust score.
As one of the world's largest forex brokers by trading volume, handling trillions of dollars, Exness is undoubtedly a major player. Continued growth and expansion into Tier-1 regulatory jurisdictions would further solidify its position and make it even more competitive with highly trusted brokers.
Frequently Asked Questions (FAQ)
Where is Exness based?
Exness's headquarters are located at 1 Siafi Street, Porto Bello, Office 401, Limassol, Cyprus.
Is Exness safe?
Exness emphasizes safety by offering negative balance protection and segregating client funds at all its entities worldwide. In case of disputes, clients may be eligible for compensation up to €20,000 through the Financial Commission.
How does Exness make money?
Exness generates revenue through the bid-ask spread, commissions (on certain account types), and, in some cases, swap fees (overnight financing charges).
How do I deposit funds into an Exness account?
You can deposit funds using bank cards and various digital wallets.
What is the minimum deposit for Exness?
Standard and Standard Cent accounts have no minimum first deposit requirement; the minimum depends on your chosen payment method. For Professional accounts, the minimum deposit is $200.
How do I withdraw money from Exness?
Withdrawals can be made via digital wallets.
How long does it take to withdraw money from an Exness account?
Withdrawals are typically processed within one business day.
What is the maximum leverage at Exness?
Maximum leverage varies depending on your account equity and the regulatory jurisdiction, ranging from 1:500 to 1:unlimited.
