Exness was founded as an online-trading broker in 2008. Headquartered in Seychelles, the exchange is operated under the authorization of FCA and CySEC.
Since its establishment, Exness enhanced its popularity as one of the best forex brokers by offering tight spreads, low commissions, and the most advanced platforms like MetaTrader 5 (MT5), MetaTrader 4 (MT4), and WebTerminal.
In December 2020, the monthly trading volume of Exness reached $673.6 billion and the number of active traders rose above 145,400.
Besides, Exness is among the few financial brokers who allow instant withdrawals. Withdrawal requests made on the funds stored in your Exness wallet are instantly credited to your preferred electronic payee account.
The broker offers a large option of trading assets which includes forex currency pairs, cryptocurrencies, stocks, CFDs, indices, and more.
Also, it provides different types of trading accounts with a variety of special features like low commissions, minimum spreads, and low deposit limits.
In this latest Exness review, we’ll have an in-detailed discussion about the broker’s regulation, costs, payment methods, tradable assets, customer support, and education program.
- Well experienced – Providing online trading service for more than 12 years
- Legitimate – Authorized by FCA, CySEC, FSA, and FSCA
- Multiple Trading Platforms – Offers both MT4 and MT5 platform including WebTerminal
- Multiple Trading Accounts – 5 types of trading accounts including Standard and Zero Spread accounts
- A Large Number of Trading Products – The best broker for trading forex, cryptocurrency, metals, energy, and stocks
- Beginner-Friendly – The minimum deposit starts from $1 which allows newbie traders to start with an amount of investment they’re comfortable with.
- Instant Withdrawals – Withdrawal requests made through electronic payment systems are processed instantly.
- Exness Academy – Offers free education materials, daily market updates, technical analysis, and webinars.
Regulation – Is Exness Safe?
Exness always focuses on ensuring the maximum safety and security of clients’ funds.
Since its establishment, the broker continuously keeps developing its infrastructures and trading platforms for providing the best trading conditions for its clients.
Besides, the exchange is regulated and authorized by 4 different financial governing bodies that ensure its legitimacy as a financial broker. Here is the list:
- FCA: Exness (UK) Ltd is authorized by the Financial Conduct Authority in the UK, registration number 730729.
- CySEC: Exness (Cy) Ltd is regulated by the Cyprus Security and Exchange Commission with license number 178/12.
- FSA: Exness is registered as Nymstar Limited in Seychelles and authorized by the Seychelles Financial Services Authority, license number SD025.
- FSCA: On December 11, 2020, Exness was registered as the Vlerizo (Pty) Ltd and was authorized by the Financial Sector Conduct Authority (FSCA).
Exness Trading Asset Coverage
Exness has been known as an ideal home for forex exchange retailers. It offers 107 currency pairs which include major, minor, and exotic currency pairs. Besides, the broker offers zero and raw spreads on forex assets.
For example, the EURUSD and GBPUSD spread start from 0.0 pips for Exness Raw Spread and Zero account users.
Apart from currency pairs, Exness also offers trading opportunities for 81 Stocks and Indices items.
It has access to popular stocks like Apple, Google, Facebook, Tesla, Walmart, AT&T, Netflix, Intel, and more. Besides, the broker includes the top 10 global indices including, US 500, US 30, UK 100, FR 40, AUS 200, etc.
Precious metals like Gold and energies like Crude Oil Brent (UK Oil), Crude Oil (US Oil) are also available in Exness.
Exness launched the Bitcoin trading service in September 2017. Besides, it offered the highest leverage for trading Bitcoin which was 1:50.
The campaign went successful and currently, the broker is offering a 1:100 fixed leverage for trading cryptocurrencies.
Apart from Bitcoin, Exness also allows trading other popular crypto-assets like Etherium, Litecoin, and Ripple.
Commissions and Fees in Exness
Exness is well-known for low trading commissions and minimum spreads. The maximum commission is applied up to $3.5 per lot traded and the spreads start from 0.0 – 0.3 pips depending on account types.
We’ll discuss more on commissions and spreads in the account type section of the article.
The broker may charge an overnight fee, also known as a ‘swap fee’ based on the types of assets and positions held by the trader. However, Exness offers an Islamic account feature that waives rollover fees for Muslim traders under Shariah Law.
Furthermore, Exness doesn’t charge deposit and withdrawal fees on the transactions made through Skrill and the amount is less than $200. Otherwise, the broker will charge a deposit or withdrawal fee of $1 for each transaction.
Apart from the above, the broker doesn’t apply any other hidden charges or additional fees like inactivity and maintenance fees.
Exness Account Types
Exness offers a range of online trading account types. Each Exness account type has its unique set of features and benefits. You can choose the one that suits your trading style.
How to Open an Exness Account?
Here is the 7 step-by-step guide for opening an Exness account:
- Visit the Exness website.
- Select your country, enter your email address, and set the password for your personal area.
- Click “Continue” and you’re done with the registration of your Exness personal area.
- Login to your personal area and select “Open New Account”.
- Select account types, trading platforms (MT4/MT5), leverage, and account currency
- Create a nickname and password for your new trading account
- Finally, click “Create an Account”. Once your account is created successfully, it’ll appear under the “My Account” tab.
Exness Trading Platforms
Exness offers 3 trading platforms including MT4, MT5, and WebTerminal for its clients. Here are the details:
- MT4 Platform: MT4 is the world-leading trading platform for foreign exchange speculative traders. Since 2005, MetaTrader 4 has been the most popular trading platform for trading forex pairs.
This platform offers various trade-execution options like market execution and pending orders. In pending orders, you can place a trade-entry in 4 different ways which are, buy limit, sell limit, buy stop, and sell stop. The buy/sell limit orders enable trend-following traders to set an order at the pullback/retracement levels of the price. On the other hand, the buy/sell stop orders let you place an order at the future price level, especially for the breakout trade entries.
Besides, MT4 provides numerous indicators and trading tools for analyzing the carts, forecasting the price, and developing trading strategies. It also allows Expert Advisors (EA) that enables you to activate automated tradings. The EA automatically carries out your trading activities based on the logic and strategy set by you. This feature represents a great opportunity for the trading individuals who has less time to spend in market analysis and manual tradings. Also, this platform shows news updates, speculations, and forecasts of renowned financial institutes.
Last but not the least, MetaTrader 4 platform is compatible with Windows, Android, and iOS operating systems. This means you can use this platform on any mobile, tablet, and laptop devices besides desktop computers.
- MT5 platform: MetaTrader 5 was launched by MetaQuotes in 2010. This software represents the most advanced trading platform in the market. This platform uses modern technology that makes online trading more convenient for forex retailers.
MT5 consists of 82 technical tools, 21 timeframes, and 4 types of order execution facilities. Also, it allows you to open 100 charts at a time which gives a good opportunity for the multi-chart traders.
Besides, according to Metaquotes, they’ve enhanced the encryption, transparency, and security system while of the MT5 platform which makes it more appealing to advanced traders.
Furthermore, if you have an EA or automated trading robot, you can easily install them on MT5 and make them compatible with your daily trading activities.
- WebTerminal: WebTerminal uses the MT4/MT5 framework and lets you gain full access to the financial markets without downloading and installing any software. It is an HTML5-based trading platform that can be operated from any browser of your computer. Also, it supports all types of operating systems like Microsoft, Android, and iOS.
This platform allows all types of trading operations and provides real-time quotes, customizable price charts, and basic analytical objects for its users.
In short, Exness WebTerminal provides all the basic functions a trader needs for trading more effectively. It is a fast, user-friendly, and the most reliable web platform for trading financial instruments.
Deposits and Withdrawals – Exness Review
Exness performs deposits and withdrawals instantly when the transaction is made by an electronic payment method.
At present, many brokers offer instant deposits but if you ask about instant withdrawal that is quite rare.
The fact is, Exness allows instant withdrawals through electronic payment methods. It means the money arrives in your e-wallet within a second after submitting a withdrawal request.
Exness uses an automated payment processing system for making this possible.
The broker supports 3 types of payment methods:
- Bank Cards – Credit cards like Visa and Mastercards.
- Electronic Payment System – Neteller, Skrill, Perfect Money, WebMoney, and FasaPay.
- Bitcoin and Tether
Bitcoin and Tether are the latest addition to the Exness payment system. It allows cryptocurrency investors to use their own digital wallet for funding their trading account and making withdrawals as well.
Please note that it takes up to 72 hours to process the payment made by Bitcoin and Tether. The standard processing time for most transactions is 24 hours.
Please note that the broker accepts payments from the client’s personal accounts only. Also, you’re required to use the same payment method for withdrawals that you used to make the initial deposit.
If you use multiple payment options for deposits then the withdrawals need to be made proportionately among the previously used payment options.
The deposits and withdrawals are executed 24/7 which lets you place a payment request during the weekends too.
Exness Education and Research
Exness Academy provides a huge opportunity for individuals who wish to learn about trading and financial markets. It offers free courses, video lessons, technical analysis, and regular webinars on special trading courses.
The broker uses its professionally trained market experts for producing the learning materials. The courses are classified into three different levels:
- Essentials – A beginner’s guide on online trading and the markets.
- Development – This course covers trading skills, risk management, and trading plans for intermediate-level traders.
- Breakthrough – This guide shows how to apply your trading knowledge to real markets and how to be practically fit for taking the trading challenges.
Apart from free online trading courses, it also offers daily market updates carrying both technical and fundamental analysis of the assets.
These reports are usually published before the beginning of London sessions and offer great assistance in building the trading plans for the day.
Global Acceptance of Exness
Following its significant success as an online trading broker, Exness keeps expanding its business in different parts of the world.
The broker is already registered in UK, Cyprus, Seychelles, and South Africa. At present Exness is accepting global clients and serving the residents of 192 countries worldwide.
Exness Customer Support
The customer service department of the broker has been efficient and cooperative with the clients.
Exness engages professionally trained multilingual customer service agent who offers their assistance 24/5 in 15 different languages and 24/7 in English.
Besides the existing members, anybody can contact Exness customer support for any query about the broker.
For instant service, you make a direct phone call or contact them through live chats. Alternatively, you can send them emails. The emails are typically answered within 24 hours.
Besides, you’ll find the Exness help center at the top right of its official home page. The customer support agents of the broker already listed the frequently asked questions and answers in the help center area.
Also, you can use its search bar where you may find instant answers to your questions.
Live chats: Available in 15 languages
Phone number: +842 444 581956
Head Office: Nymstar Limited, F20, 1st floor, Eden Plaza, Eden Island, Seychelles.
Exness Pros and Cons
- Experienced, serving more than 12 years as an online trading broker.
- Authorized by FCA, CySEC, FSA, and FSCA.
- Offers 107 currency pairs and 81 stocks & indices.
- Allows cryptocurrency trading.
- Uses MT, MT5, and WebTerminal.
- Low commission.
- Offer both raw and zero spreads.
- The minimum deposit limit is $1.
- Maximum leverage 1:2000.
- Instant withdrawal.
- Accepts Bitcoin and Tether as payments.
- Provides education and research support.
- Efficient and multilingual customer support.
- Swap-free account for Muslim country citizens.
Before choosing an online trading broker we need to focus on the basic needs of a trader. The requirements vary depending on the trading style and the size of the capital.
Generally, we consider a broker as an ideal place to trade when it is cost-effective, secured, and legitimate.
Based on our in-depth research, we’ve found Exness quite balanced in developing the features which are effective for the traders.
The broker offers some unique features like instant withdrawals, high leverage, low trading commission, and raw/zero spreads which makes trading more comfortable for investors.
Besides, it uses professional and advanced trading platforms like MT4, MT5, and WebTerminal.
In terms of education and research, Exness offers a good opportunity for newbies. The broker operates Exness Academy – a dedicated learning center that offers numerous trading courses and market analysis for beginners.
Besides, the broker launches Standard Cent account with minimum deposit requirements, zero commission, and limited spreads for helping new traders in starting their trading career.
Also, these features prove Exness as a beginner-friendly broker.
Exness is legitimate and authorized by multiple leading financial regulators like FCA, CySEC, FSA, FSCA.
Also, the broker is serving for more than 12 years as an online broker and still moving forward with a good reputation.