User Review( vote)
Established in 2008, Exness aims at delivering excellent forex trading conditions so that forex traders from different parts of the world can earn profits.
• Authorized and well-regulated online forex broker
• Account types with low minimum deposit
• Choose from MT4 and MT5 platforms for desktops as well as mobile devices
• Variety of trading tools
• Customer support in multiple languages
• No proprietary trading platform
• Fewer payment options
The online forex broker comes with features such as the following:
- Professional Trading Conditions – The Forex broker features zero commission on withdrawals and deposits, tight spreads, fast trade execution, and a wide range of trading instruments.
- Reliable – It protects player funds and promptly satisfies all financial obligations.
- Convenience – Using Exness for forex trading is convenient as it features fast deposits and withdrawals, excellent customer support, and localized services.
- Transparency – The broker is 100% transparent and provides clients full information about the way it works.
- Quality – With the aim of providing clients the best possible trading services, the company is continuously expanding its product portfolio.
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:
- Financial Conduct Authority (FCA) – Exness UK Limited is regulated and authorized by the FCA, which regulates companies that offer financial services as well as financial markets within the UK. The license permits Exness (UK) Limited to offer financial services and products in another Euro country.
- Cyprus Securities and Exchange Commission (CySEC) – Exness (Cy) Limited operates under a license granted by CySEC, which is the regulatory body for financial companies based in Cyprus. CySEC belongs to the European Securities and Markets Authority (ESMA).
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.
- The FCA in the UK
- Commissione Nazionale per le Societa e la Borsa (CONSOB) in Italy
- Finansinspecktionen (FI) in Sweden
- Comision Nacional del Mercado de Valores (CNMV) in Spain
- Autoriteit Financiele Markten (AFM)
- Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) in Germany
Traders can look forward to a comfortable trading environment at Exness as it has the following features:
- Fast fund withdrawals
- Wide range of banking methods with zero commission
- Wide range of trading platforms
- 39 pairs of currencies
- Trading Central’s technical analysis trading indicator
- Free VPS hosting
- Trader’s currency converter and calculator
- Latest financial news
- Up to 1:200 leverage
- Trades executed in 0.01 seconds
- Minimum first deposit of US$ 500 for classic accounts
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.
You can open four types of accounts at the Forex broker.
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.
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.
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 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.
The following trading platforms are available at Exness:
- MetaTrader4 – The online forex broker offers MetaTrader4 for Linux, Mac, iOS, and Android. Traders can download MetaTrader4 using the links available on the website.
- MetaTrader 5 – This is a multi-functional trading platform. In many ways, it is an improved version of MetaTrader 4, offering a wider range of features. Traders can download MetaTrader 5 for Windows, Mac, iOS, and Android at the Exness’s official website.
- MT4 WebTerminal – MT4 WebTerminal is for traders who do not want the hassles of downloading and installing software. To get started, you have to visit Exness’s WebTerminal page and log in to your trading account. You don’t have to register a separate account. Since WebTerminal is developed by the same company that developed MT5 and MT4, clients can rest assured that they are using a fast, safe, and secure platform.
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:
- Wire Transfer – This is a zero-commission payment method, which can be used to make minimum deposits of $10 in 3 – 5 days. Traders can use Wire Transfer to withdraw a minimum of $40 to a maximum of $350,000 in 3 – 5 days.
- Bank Card – You can use Bank Card to deposit a minimum of $3. You can also use it to withdraw a minimum of $3/$6 to a maximum of $10,000 in 3 – 5 days.
- Neteller – The minimum deposit limit for Neteller is $10. Traders can also withdraw profits in the range of $4 to $2000 using Neteller.
- Skrill – You can use Skrill to deposit a minimum of $10. Skrill can also be used as a withdrawal method to make withdrawals in the range of $10 to $12,000.
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.
Exness offers a wide range of trading tools to help customers become successful. The following is a list of some of those tools:
- Economic calendar
- Trader’s calculator
- Currency converter
- Web TV
- Account monitoring
- VPS hosting
- Tick history
- Quotes history
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.
Exness Review: Is it Reliable Forex Broker? Your #1 Guide in 2019