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  • by Giovanna Scarpelli
  • May 09, 2022
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EXNESS Broker Review Key Findings for 2022

 

THE RUSSIAN BROKER WITH MORE THAN 15 LANGUAGES AND 24/7 CUSTOMER SUPPORT.

Contents

  •  What is Exness Broker?
  •  Exness REGULATION
  •  Is Exness broker safe? Or scam
  • Pros and Cons of EXNESS
  • Is Exness a good forex broker?
  • Is Exness suitable for beginners?
  • Exness: FEES AND DEPOSITS
  • Exness Leverage
  • What about spreads on Exness?
  • EXNESS Trading platforms 
  • Account types
  • Customer Support

 

 

Exness Forex Broker Company Overview

Exness forex broker overview

 

 

 
 

EXNESS is a Russian online broker founded in 2008 where you can invest in more than a hundred financial instruments, with a great reputation for professionalism and transparency.

Thanks to its sophisticated software it is able to coordinate orders executed by clients at the best market prices. Its growth rate has reached 300,000 active monthly clients, which means a large volume of operations, reaching no less than a trillion dollars!

Especially in the Forex currency market, taking advantage of immediate execution on the Forex Mini and Forex Classics accounts for the fact that it provides impeccable customer service, guaranteeing clients updates on the latest financial news in thirteen different languages, not to mention the wide range of currencies with which we can work:

EUR/USD

USD/JPY

GBP/USD

USD/CHF

USD/CAD

AUD/USD

GBP/JPY

NZD/USD

GBP/JPY

 

➔ Exness Regulation

The Exness platform was launched in St. Petersburg, Russia in 2008; committed to providing quality trading services in different markets.

Over the years it has been growing and therefore its regulation is located in  Cyprus under the command of Cysec (Cyprus Securities and exchange commission) and its financial registry provider registration is located in New Zealand.

South Africa, Cyprus, Mauritius, Seychelles, the British Virgin Islands, Curaçao, and the United Kingdom are the countries in which Exness has a brokerage license. 

The increase in the number of investors in Exness is largely due to. Officially registered platforms guarantee the safety of your money, and Exness is one of them!

Being regulated and licensed by CySEC, SIBA, South Africa FSCA, FCA, the BVI Financial Services Commission, and the Central Bank of Curaçao, it provides great security for your account.

Does Exness accept clients from all over the world?

Exness does not accept customers who are citizens or residents* of the United States, American Samoa, American Samoa, Baker Island, Guam, Howland Island, Kingman Reef, Marshall Islands, Northern Mariana Islands, Puerto Rico, Midway Islands, Wake Island, Palmyra Atoll, Jarvis Island, Johnston Atoll, Navassa Island, Martinique, Vatican City, or the U.S. Virgin Islands.

Additionally, Exness does not accept clients who are citizens of the following countries:

North America: Canada, Cuba
South America: Uruguay
Oceania: Australia, New Zealand, and Vanuatu
Asia: North Korea, Malaysia, Russia
Europe: Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Ireland, Latvia, Liechtenstein, Lithuania, Belarus, Luxembourg, Malta, Monaco, Norway, Netherlands, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom
Africa: Seychelles, Sudan, South Sudan
Middle East: Iraq, Iran, Syria, Yemen, Israel, and Palestinian Territory
British Overseas Territories: Gibraltar
Netherlands territories: Curaçao


* A resident is someone that resides in a country and is not necessarily a national of this country. For example, if you come from Thailand and now legally live and work in Malaysia, you are a Malaysian resident.

➔  Is Exness broker safe broker?

Exness is not a fraud; rather, it functions in accordance with local laws.

The isso 90.01 2.2008 certification, endorses the Exness quality management system at the international level.

When we carry out an operation in which we have to deposit funds, our money will be separated both in independent accounts, encrypted keys, and security controls that evade any type of threat.

The Exness broker compensation plan commits to reimburse a certain amount in case the company goes bankrupt.

Exness not only provides stable and reliable brokerage services but also provides a comfortable trading environment for the client.

Also on its website, there is a detailed history of prices and quarterly financial reports, the latter audited and advised by one of the best big four in the world called Deloitte. Last but not least, multi-factor authentication and precautions through emails and text messages are additional security measures offered by the Russian broker.

Advantage and Disadvantage Exness

Exness Forex Broker Pros 

  •       Unlimited leverage from 1:2 to 1:2000 and above.
  •       Over 30 commission-free deposit and withdrawal methods.
  •       Access to different platforms depending on your needs.
  •       Reimbursement in case of insolvency.
  •       Quick cash withdrawal.
  •       Specialized technical support.
  •       Exclusive affiliate program.
  •       Daily study and analysis.
  •       Has a free demo account
  •       Uses Greenwich Mean Time

 

Exness Forex Broker Cons 

  •       No multi-currency accounts are available.
  •       Stoploss & Take profit level
  •       Online help is limited to Chinese and English.
  •       Currently, its MT5 platform is not as fast as expected.*
  •       Some platform issues arise on Android devices.
  •       Expert advisors (EA) cannot be used in mobile operation terminals.
  •       If you want to perform a trailing stop you can only do it through the desktop trading terminals as it is not available for mobile trading.

 

*It should be added that they themselves offer you options to solve the speed and performance problems of MT4 and MT5, providing different actions to perform:

"Reduce the number of bars, disable news, optimize RAM, Create an optimized user profile, custom indicators, and the option to use a VPS."

You can look up all data about Exness broker in this review. 

➔ Is Exness a good forex broker?

It is fortunate that this platform has reached a continent such as Africa, where the biggest "Ponzi scheme'' scams have been located.

Acquired a great cache after winning a recent award from one of the best news and online trading portals for stocks, commodities, cryptocurrencies, and currencies number 1 in South Africa.

Exness's high competitiveness in the area of commercial rates and spreads lowers its margin compared to other brokers controlled by the FSCA.

At the same time, it is very transparent with commercial rates and its commissions are very basic.

It should be noted that it has channels where customers can express their complaints and opinions, thus providing more confidence as the platform is involved in public opinion.

It provides direct access to high liquidity that other providers do not offer, highlighting competitive spread prices at any time on the ECN Forex account.

What happens if the terminal application closes while you were operating?

If the trading terminal app closes while you were executing orders, do not be alarmed, they will still be active since to deactivate them you have to close them manually before exiting the terminal application.

On the other hand, in the event that a stop-out is activated while offline, it can be closed.

Also, in case you have installed scripts and expert advisors, even if they are not active, they can close orders connected to a VPS server.

➔ Is Exness good for beginners?

You can see the video for details about the exness broker.

In addition, they have a copy trading option available, which means that we can act in the same way as a professional trader.

We also find a section of analysis and opinions that will provide us with valuable information when investing, being very valuable for beginners as well as the most experienced, as these data provide us with investment opportunities such as commodities, currencies, cryptocurrencies, indices, and stocks.

And what will convince you is that it has a demo option where you can practice with fictitious assets.

 

Exness Fees and Deposits

What is the minimum deposit for Exness?

The minimum deposit for Exness is $10, but the minimum movement is $1.

The Exness platform offers a wide range of deposit methods for investors.

Deposits can be made either by Visa or MasterCard bank cards or by e-wallets such as Neteller or Skrill. Due to the protection and security offered by this platform, you must have a verified account before depositing funds.

Are There Bonuses at Exness? Yes, Exness offers a welcome incentive to entice new customers. When you join up for a new Exness account, you can receive a $10 welcome bonus.

Methods available with Exness forex broker:

Bank Transfer✅ International
Bank Cards

✅ Visa

✅ Mastercard

Electronic Wallets

✅ WebMoney

✅ Skrill

✅ SticPay

Payment systems

✅ Perfect money 

✅ FasaPay

Crypto Currencies

✅ BitCoin 

✅ Tether

 

Withdraw Funds on Exness: Step-by-step

The great advantage that we get from depositing and withdrawing in this online broker with respect to others is that if we select the appropriate electronic payment system we will not be charged a commission.

How long do Exness withdrawals take? In addition, these deposit processes are financially simple, fluid, and totally secure, and you can access your money 24 hours a day.

How to deposit in Exness? 

Due to the multitude of countries in which Exness operates, you will have different payment system options, for more information on this login to your personal area.

Click on the deposit tab.

  •  Choose the payment system.
  •  Now choose the account where you are going to deposit your funds and click continue.
  • Select the currency you are going to use and the amount of your deposit. Click continue.
  • Next, you will see the details of your deposit (this is where you will see that you will not be charged any fees). Click continue.
  • In order to complete your transfer, you will be directed to the website of the chosen payment system.

 

From this point on, each payment system will ask you for different personal data.

The only exception is when withdrawing funds through Skrill; there is no fee for withdrawals over USD 20, but if you withdraw less than that amount, a fee of USD 1 will be charged.

 

What about deposit processing time?

Almost all payment systems hosted by this online broker have an almost instantaneous deposit processing time.

Although the time may vary depending on the payment method used, with any problems that arise you can consult with the support and customer service area.

 

➔ Exness Leverage

The trading leverage is an investment strategy based on the ability to use capital borrowed from an online broker to trade large volumes even with small amounts of deposited funds.

It is a direct relationship between the investor's funds and the borrowed funds for example 1:200, 1:2000, or 1:unlimited. This type of strategy can be used for both short-term sales and long-term purchases.

We can highlight that the unlimited leverage entails higher risk, being focused on more experienced investors since it allows the opening of larger positions.

If you decide to use this type of leverage (unlimited) you should know that you need at least a capital of $1000 and at the same time to have closed more than 9 positions and a total of 5 lots in all "real" accounts.

The leverage requirements are as follows:

In the following table, you will find the necessary capital and leverage requirements.

Capital

Maximum leverage available

USD 0 - 9991 : unlimited
USD 0 - 4,9991: 2,000
USD 5,000 - 29,9991 : 1,000
USD 30,000 or more1 : 1,500

When we talk about margin we refer to the amount necessary to establish leverage without forgetting spreads, leverage, and currency conversion. For example: If you have $200, you will have a ratio of 1: 2,000, which means that the broker will open a position of $400,000.de 1:200. With this in mind, the broker will open a position of 100,000 euros.

The higher the leverage the lower the margin requirements and vice versa.

Margin requirements can be affected by different causes:

  1. In the event of a change in the equity of your account. 
  2. Relevant economic impacts
  3. Appointed dates.
  4. Daily closing and opening of the stock market.

 

➔  What about spreads on Exness?

A fundamental tool of trading is the spread, some may wonder what is this? Well, in financial terms it is what tells us the difference between the bid and asks the price of an asset.

The spreads in Exness have very low commissions and are floating, it all depends on the trading account you choose, if you choose the Exness pro account, you will find flexible spreads from 0.1 pips; however, if you choose the Exness Standard account you will find them from 0.3 pips.

You can find floating spreads from 0 pips in Exness zero and raw, but you will have to pay a minimum commission per lot of $3.5 in zero and up to $3.5 per lot in raw.

 

Exness Trading platforms 

One of the advantages offered by Exness broker is the possibility to choose between different trading platforms:

Mobile platforms. There is no doubt that everyday cell phones or tablets play a key role in trading operations, so with this platform, you can invest online, check market charts and control your operations at all times.

Exness gives you the opportunity to access their versions of trading platforms adapted to both Android and iOS mobiles.

Webtrader. If you are one of those traders who connect from different parts of the world, this is the platform for you!

Since it is based on online trading through a web browser without having to install or download anything on your computer.

Technical analysis is no problem as it has different tools and functionalities making it very easy to use.

Exness Metatrader 4. This is one of the most common platforms in the world, working with two execution methods, either instantaneous or market execution.

It is an intuitive, complete, and adaptable platform for each investor. Containing sufficient tools for technical analysis.

Not to forget that the automatic trading option is also available!

Exness Metatrader 5. It is a new generation platform, offering a closer interface and modern operability.

However, it is not yet widely used because its programming language is not fully compatible with other platforms.

Exness VPS Server. With Exness we can get a free VPS (Virtual Private Service) where the trading platform is installed.

The main server of Exness, has a data center where this VPS is located, providing maximum connectivity and total guarantee of availability so you do not have to depend on your computer and what it entails, such as internet connection.

If your trading style is automatic, this is your best option because the VPS server is always connected, reducing latency to a minimum.

It should be noted that Exness MT4 and Exness MT5 can be used simultaneously if you trade in the appropriate application (each one has its own). In order to configure it, you will need to install several copies of each one and different destination folders. It is fortunate that this platform has reached a continent such as Africa, where the biggest "Ponzi scheme'' scams have been located.

Acquired a great cache after winning a recent award from one of the best news and online trading portals for stocks, commodities, cryptocurrencies, and currencies number 1 in South Africa.

Exness's high competitiveness in the area of commercial rates and spreads lowers its margin compared to other brokers controlled by the FSCA.

At the same time, it is very transparent with commercial rates and its commissions are very basic.

It should be noted that it has channels where customers can express their complaints and opinions, thus providing more confidence as the platform is involved in public opinion.

It provides direct access to high liquidity that other providers do not offer, highlighting competitive spread prices at any time on the ECN Forex account.

It is also possible to make different trading accounts with the same server, thus operating in multiterminal having different accounts linked to the same server.

 

Exness account types

Exness provides a variety of account kinds, each tailored to a particular trading style. The two main categories are Standard and Professional. Every account type offers a unique set of commission, margin call, and leverage terms, among many other things.

Exness Standard Account

  • Standard 
  • Standard Cent


All traders are advised to open a standard account because it is the easiest and most accessible one available. 

Exness Professional Accounts 

  • Pro 
  • Zero 
  • Raw Spread

 

Exness demo account

Before you start trading with real money, demo accounts are excellent for practice and for getting you up to speed. A demo account with USD 10,000 in virtual currency is automatically established when you register a Personal Area on the Demo page of "My Accounts." There is a very simple way to create new demo accounts, so feel free to do so.

To establish a new demo account in your Personal Area, follow these steps:

  • Open your Personal Area and log in.
  • Go to the My Accounts area and click the Demo tab.
  • To open a new account, click.
  • All of the account types for which demo accounts are available will be displayed to you. Select the desired account type, then click Try Demo.
  • You can select your preferred trading platform on the next page. The leverage, beginning balance, account currency, account nickname, and trade password can all be configured.
  • To create an account, click.

 

Exness Islamic account

Swap-free trading accounts are offered by Exness to citizens of Islamic nations who adhere to Sharia law. No swap is awarded to or removed from a trading account when it has swap-free status.

The following categories of trading accounts are eligible for swap-free status:

  • Pro
  • Raw 
  • Spread 
  • Cent Standard 
  • Standard Zero

 

Exness social trading

You can copy a number of current and successful investment techniques from the Exness Social Trading app's list. No of your level of experience, you can invest in the financial markets using our user-friendly and potent mobile application. With only one tap, you may duplicate trade, find shared techniques, and browse through a list of the top strategies.

 

➔ How to register and create an account on Exness?

The following steps must be followed:

  1. Go to the exness.com website 
  2. Click on the yellow button in the middle of the screen that says: open an account. 
  3. You have to register, where you will be asked for: Country of residence, email, and password (8-15 characters). Click on continue. 

We will be redirected to the Exness terminal. 

  1. Click on the personal area on the left in the penultimate box. 
  2. You will see a real account and an MT5 demo account; to open your own account, click on the box on the right where it says to open a new account. 
  3. Choose an account type, and click open real account or open demo account. 
  4. On the next page, you will again be given the option to select an areal or demo account and to choose the terminal, either MT4 or MT5. You must set the maximum leverage and the account currency (You can't change it anymore). Choose a nickname for the account and a trading password. 
  5. Click on create an account. It will appear in the T section, my accounts, in demo or live, as you have chosen.

Exness Customer Support

15 different languages are spoken by their support staff. Support is offered in English, Chinese, and Thai on a 24-hour, 7-day basis.

Exness has a live chat. 

Email: support@exness.com 

Exness customer care number: +35725030959

 

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