Full review of forex and cfd broker Exness 2021. Is this broker right for you?
Exness Group was founded in 2008. The brokerage group of companies provides quality services in more than 107 countries around the world and is one of the leaders in the forex industry.
Should you consider Exness for forex and CFD trading, what are its disadvantages and advantages? You will learn all this from the complete review of Exness.
Content
Trading conditions on Exness
| Official site | https://www.exness.com |
| Year of foundation | 2008 |
| Regulated by | FSA Seychelles, CySec, FCA |
| Trading instruments | 168+ assets CFDs on forex (107), stocks and indices (40), cryptocurrencies (7), metals and energy (14) |
| Spreads and commissions | Below average floating spreads From 0.1 pips |
| Most popular | Exness in Maldives, Namibia, Lesotho, Eswatini, Botswana, Zimbabwe, South Africa, Thailand, India, Ghana, Kenya, Thailand, Cyprus, Madagascar, Brunei Darussalam, Vietnam, Zambia |
| Provision of services in the US, UK, Canada, European Economic Area | The US and Canada The European Economic Area and UK |
| Min. trade size | 0.01 |
| Leverage | Up to 1:Unlimited for some accounts Up to 1:2000 for a Standart account |
| Account types | Standard accounts (Standart, Standart Cent), Professional accounts (Raw Spread, Zero, Pro) |
| Minimum deposit | $ 1 |
| Minimum withdrawal | $ 1 |
| Deposit & withdrawal methods | 10+ |
| Payment Fees | |
| Trading hours | 24/5 |
| Trading platforms | Proprietary web platform, MT4 |
| Mobile App | |
| Demo | |
| Copy Trading | |
| AT/Robots | |
| Bonus | |
| Affiliate program | https://my.exnessaffiliates.markets |
Exness offers good trading conditions. They are great for both beginners and pros. But not everything is perfect, this is confirmed by the reviews of traders.
Real reviews of traders
Real reviews of traders about EXNESS are easy to find on the Internet. The broker provides its services in many countries, but now it is most popular in Africa. Real Exness reviews can be found from customers around the world.
There are many more positive reviews about the broker than negative ones. Traders usually leave their review about Exness in short form.
Positive real reviews from Exness traders note the high reliability of the broker, quick withdrawals, low spreads, fast order execution and high-quality customer support.
The discontent of Exness traders is mostly caused by slippage and requotes, as well as problems with pending orders. Most often, this is observed at moments of important news release – the terminal simply loses its connection and stops accepting orders. In addition, it is impossible to trade or hold positions for some assets and at certain times due to huge spreads and swaps.
A bad review accurately describes the broker’s problem
Customer support from xness monitors and responds to reviews of clients on third party sites.
Exness Group regulation and general information
Let’s move on to the review of the Exness group of companies.
The Exness Group consists of several companies that provide work with traders from different countries.
For most traders, Exness Group provides its services as a subsidiary of Nymstar Limited. Nymstar Limited is a securities dealer registered and regulated by the Seychelles Financial Services Authority (FSA).
Placement and registration in the Seychelles is associated with low taxes and the absence of serious requirements in the financial services sector of this offshore. Seychelles FSA regulation is not a guarantee of reliability. However, Exness rarely gives rise to doubt.
Nymstar Limited providing services in selected jurisdictions outside the European Economic Area (EEA). Website www.exness.com.
Exness (Cy) Ltd. is used to provide financial services within the EEA. Exness (Cy) Ltd is a Cyprus investment company registered and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12. Website www.exness.eu.
Exness (UK) Ltd. is a financial services company in the UK. Exness (UK) Ltd is an investment company registered and regulated by the UK Financial Conduct Authority (FCA) under the number 730729 in the Financial Services Registry. Website www.exness.uk.
Exness Group is a very reliable broker that has been providing its services honestly and transparently since 2008. Brokers can often be found in the ratings of major Internet resources, rating agencies and financial magazines. Exness is definitely not a scam broker.
Trading platforms MT4 and MT5
Exness broker provides an opportunity to translate the official website exness.com into 14 languages for convenient use.
Registration takes no more than a minute, after which you can login your personal account. You are provided with an unlimited demo account and the ability to open a real account. A demo account will allow you to evaluate the performance of a broker, evaluate trading conditions (spreads, assets) and test trading strategies.
Exness has its own trading platform and the ability to trade on MT4 and MT5 terminals. Trading on the branded platform is very convenient. The clear interface and speed of this platform will make trading as convenient as possible.
But there is also a big drawback to this platform – this is the lack of indicators and tools for technical analysis. Therefore, many traders prefer to trade with Exness on MT4 and MT5 terminals.
Exness MT4 is still one of the top choices for forex trading, even many years after the release of MT5 and other trading platforms.
The official website exness.com offers trading in the web versions of MT4 and MT5, as well as the ability to download applications for PC (Windows, Linux) and mobile (Android, iOS).
Real account and account types
You can open a real Exness com account after confirming your email, phone number and filling in your personal data. You can open a real account in the MT4 and MT5 terminals. Trading leverage in MT5 is up to a maximum of 1: 2000, and there is no limit in MT4. The broker offers different types of accounts depending on the experience and preferences of the traders.
Standard accounts without commission are perfect for any trader, including a beginner. Features include: market execution, stable spreads (from 0.3 pips) and no requotes. Margin Call / Stop Out levels for such accounts are 60% / 0%, and the minimum deposit is only $ 1. Beginners can open a cent account.
Professional accounts meet the needs of the most experienced traders. Features: Super low spreads up to 0, suitable execution of orders for scalpers, day traders and algorithmic traders. Margin Call / Stop Out levels for such accounts are 30% / 0%, and the minimum deposit is $ 200. There are 3 types of professional accounts: Raw Spread, Zero and Pro. The main difference between these types of accounts is the broker’s spreads and commissions.
Deposit and withdrawal
The minimum deposit with Exness broker is $ 1 for standard accounts and $ 200 for professional accounts. The minimum withdrawal of funds starts from $ 1, depending on the payment system.
The broker offers a large number of deposit and withdrawal methods, which differ for each country. As an example, for India the broker offers more than 15 deposit and withdrawal methods. Most of these methods are available for all countries.
The main ways to deposit and withdraw funds for most countries:
- Bank card
- Online and offline bank transfer
- AstroPay Card
- Perfect Money
- Neteller
- Skrill
- WebMoney
- Bitcoin
- Tether (USDT)
Exness is very safe in terms of withdrawals. Numerous reviews confirm that the broker withdraws funds in a short time. Funds are withdrawn in the same way as the account was replenished.
If the trading account was funded using several payment systems or several wallets of one payment system, funds must be withdrawn in proportion to the amounts deposited.
Social trading and bonuses
Exness has a Social Trading section where you can create and share your trading strategy. For using it, you set a commission that investors must pay you.
Social trading also allows investors to use other people’s strategies by paying them a set percentage of commissions each month on the profits they earn.
Exness Social Trading is safe and secure with no signs of scam. However, investors should understand that the proposed strategies can be both very profitable and unprofitable. There is a risk of a complete loss of investment with a poor choice of strategy. Although the best broker with social trading is still eToro.
To use social trading, you can download the app for Android and iOS.
There are rarely bonuses or special promos at Exness. Terms of use are individual for each bonus program.
For example, of the types of bonuses that could be offered – a bonus from replenishing a trading account, a trading bonus (trading with certain trading instruments).
A trading bonus is credited when you close an order of a certain trading instrument – for example, when you close 1 lot of EURUSD, you would receive 2 USD bonuses (the amount is not intended for withdrawal)
Further, this bonus can be used for trading. Any accrued bonus disappears when a stop loss results.
Final Exness review and conclusion
As a result of the review, the Exness broker has pros and cons.
Pros
Exness is a very reliable, safe and regulated broker since 2008. Broker companies have high status regulation.Large selection of forex assets with relatively low spreads
Free and unlimited demo account
Trading in the proprietary platform Exness, MT4 and MT5 from any device
Low minimum deposit ($ 1) and withdrawal ($ 1)
Many ways to deposit and withdraw funds, no fees
Reliable social trading
Cons
Traders note slippages and requotes, loss of connection with the terminal in case of high liquidity, as well as problems with pending ordersLarge spreads for CFDs on stocks, indices and cryptocurrencies
There are practically no bonuses. No loyalty programs or tournaments
Exness can definitely be considered when choosing a forex broker. The broker is reliable and safe, provides services with good trading conditions. Exness has many advantages, it is in demand and known all over the world. The broker has a low minimum deposit to start trading, there are trading accounts for both novice traders and professionals.
According to traders, the broker’s main problem is requotes and slippages, as well as the loss of connection with the terminal, especially at times of economic news release. This disadvantage is not at all uncommon for forex and CFD trading, it can be found in most brokers. In addition, the broker’s spreads are slightly higher than the stated ones; the key pretext in the spread description is “from”.
Exness is not an innovator and has virtually no loyalty program for traders. However, the broker has been earning a reputation for a long time, and now it works for him. Exness is often in the top 10 forex brokers of many ratings. You can definitely try forex trading with it, but you can find a better option for CFDs, such as Plus500, eToro or other.
Accepted countries
The broker operates in more than 100 countries around the world and is the most popular in Africa.
Forex broker Exness is legal and provides services to traders from Namibia, Maldives, Lesotho, Eswatini, Zimbabwe, Botswana, South Africa, Ghana, Kenya, Thailand, Cyprus, Madagascar, Brunei Darussalam, Vietnam, Tanzania, Zambia, Pakistan, Bangladesh, Uganda , Morocco, Malaysia, UAE and other countries.
Prohibited countries: USA, Canada.
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