Exness

The online forex broker comes with features such as the following:

 Easily Accessible – Exness is the best online forex broker for everybody because of its zero commissions on withdrawals and deposits and no minimum deposit limit for basic types of accounts.

Is Exness A Reliable Forex Broker?

Exness not only offers excellent trading conditions, but also complies with the financial laws of several jurisdictions. The online forex broker operates on the following financial licenses:

Exness (Cy) Limited belongs to the Investor Compensation Fund, which aims at protecting and securing claims of the clients it covers and compensates them whenever a member, such as Exness (Cy) Limited, is unable to satisfy their financial obligation.

Exness (Cy) Limited has obtained EEA registrations so that it can operate across the border.

Traders can look forward to a comfortable trading environment at Exness as it has the following features:

Opening a Trading Account

To open an account at Exness, you have to click on the yellow Register button at the top right of the website. This initiates the online registration procedure, which lasts just a few seconds. You have to enter your phone number and email, create a password, and click on the Continue Registration tab at the bottom to continue the rest of the registration procedure. Next, you have to enter an activation code send to your email address and click on the Confirm button. As soon as you verify your email address, you can log in to your accounts and start trading.

Classic Account vs. Demo Account

New traders can open a classic account on MetaTrader4. This account type features a minimum deposit of US$500, up to 1:200 leverage, deposits through e-currency and wire transfer, minimum volume of 0.01 lot (1K) per trade, maximum volume of 200 lots from 7:00 to 20:59 GMT +0 and 20 lots from 21:00 to 6:59 GMT+0, spreads starting from 0.4, unlimited number of positions, margin call/stop out of 60%/50%, and 0% hedged margin.

If traders are not yet confident about live trading, they can create a classic demo account on the MetaTrader 4 platform and practice in a risk-free, but realistic online trading environment.

Account Types

You can open four types of accounts at the Forex broker.

Cent

Exness has designed this type of account for inexperienced clients. The trading environment is less risky, and the minimum deposit amount is only US$1. Cent account holders can trade cent lots, sized 100x smaller than the standard lots. Although on the downside, Cent accounts don’t have any demo version, trade orders are executed instantly and account holders can trade on a variety of metals and currency pairs.

Mini

Similar to the Cent account, the Mini account has a minimum deposit of only US$1 and enables trading in small lots. It features leverage ranging from 1:2 to 1: unlimited.

Classic

The lot size for the classic account is a minimum of 0.1. Traders have to deposit at least US$2 and choose leverage ranging from 1:2 to 1: unlimited.

ECN

ECN account holders get interbank liquidity. The minimum deposit amount is US$300, and account holders can trade within spreads. ECN account holders can open unlimited positions, but they have to pay commission.

Trading Platforms

The following trading platforms are available at Exness:

Trading on the Move

Customers can choose from a variety of mobile platforms, which give them total control over their trading accounts, trade forex from any part of the world, gain access to a variety of forex technical indicators, and forex financial instrument charts. While iOS users can choose from MT4 and MT5 for iOS, Android users can choose from MT4 and MT5 platforms for Android.

The number of clients who have started trading CFDs on their mobile devices has increased. Traders feel that it is a convenient way to trade when they don’t have access to their desktop computers. Thanks to the latest technologies, mobile trading platforms are as just as reliable as their desktop counterparts as they are developed by the same company. To trade successfully on the move, customers must have a reliable Internet connection.

Exness Margin requirements & Leverage Rules

You have to take leverage and margin seriously while trading on forex. If you manage your margin effectively, you can greatly minimize the risks of getting margin calls that result in stop outs. Exness has fixed margin requirements that are in compliance with financial regulations.

The broker has imposed maximum leverage levels on its assets. It has established its margin close out rule per account at 50%, indicating that at least one open position will be shut if stop out levels drop below 50%. Also, it will trigger margin calls at 60%.

Forex Market Hours

Market hours vary according to the seasons because many countries shift to and from daylight savings time (DST). When the time in the US changes from EDT (UTC-4) to EST (UTC-5) and vice versa, the broker changes from winter trading hours to summer trading hours and vice versa.

As metal exchanges shut down for one hour every day, there is no trading or quotes on metals during this time.

Holidays such as Independence Day, Christmas, and others may have an impact on trading hours. The market hours may change, or trading activities might stop completely. Traders have to take all this into consideration while developing their trading strategies. Exness informs clients through email whenever the trading schedule changes because of holidays.

Deposits and Withdrawals

If traders visit the deposits and withdrawals page at Exness, they can sort payment methods according to commission free methods and instant methods. They can also view the payment methods in the form of tables or graphics.

You can use the following methods to make deposits and withdrawals:

You can make deposits and withdrawals 24 hours per day and seven days per work. If, for some reason, Exness is unable to carry out a transaction immediately, it will complete it within 24 hours.

Trading Tools

Exness offers a wide range of trading tools to help customers become successful. The following is a list of some of those tools:

Our Take on Exness

Exness is worth recommending because of the available of multiple types of accounts, demo accounts, trading on a wide range of assets, and MT4 and MT5 platforms for a variety of devices. Customer support is multi-lingual although 24/7 support is available only in Chinese and English.

Traders can call 000-800-100-4378, start live chat, send email, and request callback whenever they need help. They can also check out the Help Center and the FAQ for the required information.

We suggest that you get started at Exness on a demo classic account and then move on to the Cent account or the Mini account. This will give you enough time and opportunity to perfect your strategies before you start live trading.