Exness Overview

Exness is a regulated trading platform operating since 2008. It offers access to a wide range of assets with competitive fees. Interested in signing up? Before you do, read our Exness review to learn more about the pros, cons, trading methods, and more.

Exness Review 2024: Legit or Scam?

Based in Limassol (Cyprus) and regulated by Nymstar, Exness also operates in the UK (for Business to Business only), Seychelles, South Africa, Curacao & Sint Maarten, and the British Virgin Islands.

The broker is regulated and licensed in all the aforementioned territories. Founded in 2008, Exness had nearly $1 trillion in monthly trading volume from active traders by 2021. This is quite an impressive figure.

Exness is also one of the largest forex brokers in the world, offering a multitude of financial instruments. Their web platform is available in multiple languages, including English, French, Spanish, Simplified Chinese, Bengali, Korean, Thai, Vietnamese, Japanese, Arabic, Urdu, among others.

Regarding their web platform, they use both the industry standard (MetaTrader 5) and their own proprietary web-based terminal, along with a mobile trading app.

Overall, the services provided by Exness (along with customer support) create favorable conditions for traders needing instant order execution with low spreads and no commissions (depending on the account type). They are also one of the few brokers offering unlimited leverage (which can be both good and bad), allowing traders to make money from deposits under $1,000.

Is Trading with Exness Safe? Broker Regulations

Investors always consider the safety and reliability of a broker. This is because traders and investors want to ensure their money is secured in the best possible way. Brokers that ensure their safety and reliability are regulated by financial regulatory commissions. These international regulatory bodies ensure that the financial security of investors is protected.

Brokers like Exness operate globally under different entities. In every region they operate, they are regulated by a corresponding regulatory authority.

Exness is supervised by a total of six regulatory bodies worldwide. However, it is important to note that in 2019, Exness shifted away from retail trading in the EU/EEA and focused on B2B operations. This means that individual investors in the UK and EU will need to find another broker unless they are looking for a white label solution.

Currently, the two regulatory commissions (CySEC and FCA) regulate Exness only in the B2B aspect. However, the other four regulatory bodies continue to prioritize and allow individual traders from the rest of the world to trade safely.

Trustpilot, with just over 900 reviews, has given them a rating of 3 out of 5 stars. This score is not too bad; however, it is lower than some other brokers we have reviewed on this site. It is important to note that most reviews on TrustPilot often address customer support aspects rather than the broker's reliability. Customer support is something we will discuss in later sections.

Additionally, consider that they have received numerous awards, including those for customer service:

• Best Global Forex Customer Service 2019
• Best Global Forex Trading Experience 2019
• Most Reliable Global Forex Broker 2019 at the Global Forex Awards

What Products Can I Trade with Exness?

Exness does not offer the widest range of assets to trade. Compared to other brokers, we would classify them as average in terms of the available assets you can choose to trade. They have the typical assets, including Forex, Stocks, and Indices. Additionally, they provide precious metals and energies, categorized as commodities. Finally, clients can also trade cryptocurrencies. Let’s take a closer look at the assets they offer.

Forex

In terms of forex, Exness offers over 100 currency pairs, including major, minor, and exotic pairs. One thing to note is that Exness provides some of the lowest spreads on most of their accounts. We will address this later, but you can expect spreads as low as 0.3 pips on their standard accounts and zero spreads on their professional accounts.

Stocks

Regarding stocks, Exness has the most popular stocks available for trading, such as AMZN, TSLA, and other significant stocks. You will also find Verizon, Visa, and PepsiCo. So, for stocks, we would not say they are lacking, but you can find around 100 of the most popular ones, whereas other brokers like CMC Markets offer over 8,000 types.

Commodities

Exness offers commodities including precious metals and energies, and you will find only a few commodities available for trading here. Gold, Silver, and Crude Oil are the main assets, and assets like Wheat, Coffee, and others are not available. If you are looking to trade such items and other commodities like natural gas, this broker might not be the choice for you.

Cryptocurrencies

Cryptocurrencies are assets that most new traders want to invest in, and Exness offers all the usual coins and then some. From Bitcoin and Ethereum to Litecoin and Ripple, Exness provides the most popular cryptocurrencies for trading.

Indices

Indices probably have the shortest asset list, including 10. However, the most popular indices are at your disposal, such as the FTSE 100, S&P 500, and the Dow Jones Industrial Average. Looking at their asset list, this broker lends itself more to securities and forex than any other instrument.

How to Trade with Exness?

To start trading with Exness, clients will need to open an account and then choose the platform they wish to use. Exness offers a rich ecosystem of terminals, some of which are web-based, while others need to be downloaded and installed on the user’s device(s).

The trading terminals available for clients are as follows:

• Exness Trader App (iOS and Android)
• Exness Terminal (Web Browser)
• MetaTrader 5 (Windows, macOS, and Linux)
• MetaTrader 4 & MT4 MultiTerminal (Windows, macOS, and Linux)
• MetaTrader WebTerminal (Web Browser)
• MetaTrader Mobile (iOS and Android)

Let’s take a closer look at each of these to understand which one might be the best fit for you. Below is an outline of the ways to trade, followed by a detailed discussion of their features.

Exness Trader App

The first terminal is the Exness Trader App, an MT5-compatible mobile terminal (available for both Apple and Android). It offers over 200 instruments (CFDs on forex, gold, oil, indices, etc.) and provides instant deposits and withdrawals. It is designed specifically for beginners.

MetaTrader Mobile

Another way to trade on mobile is with MetaTrader Mobile. Users can install MT4 or MT5 apps on their mobile devices, available for both Android and iOS. These apps offer similar functionality to their desktop versions. The MetaTrader platform is geared toward more experienced users due to its advanced features.

Exness Web Terminal

Exness’s proprietary Exness Web Terminal is a browser-based MT5 terminal, custom-built and requiring no download or installation. It runs on all operating systems (Windows, macOS, Linux, and even mobile devices). It uses TradingView charting technology and offers over 50 drawing tools and 100 indicators.

MetaTrader WebTerminal

The MetaTrader WebTerminal is another browser-based terminal that requires no download or installation to use. It runs on all operating systems (Windows, macOS, Linux, iOS, Android). This MT4-based terminal provides 40 customizable built-in indicators and an economic calendar.

MetaTrader 4 and 5

They also offer the gold standard trading applications (MetaTrader 4 and 5). MT5 is available on Windows, macOS, and Linux. It provides advanced features such as trading robots and technical indicators through the MetaEditor tool. It offers over 200 trading instruments, 6 asset classes, 5 trading account types, 8 pending order types, 21 timeframes, 3 chart types, hedging system, 38 built-in indicators, 22 analytical tools, and an available forex calendar.

MetaTrader 4 can be downloaded on Windows, macOS, and Linux. It provides advanced features such as trading robots and technical indicators through the MetaEditor tool. It offers over 200 trading instruments, 6 asset classes, 5 trading account types, 6 pending order types, 9 timeframes, 3 chart types, and 50 pre-installed indicators.

MT4 MultiTerminal

There is also the MT4 MultiTerminal, which allows users to monitor up to 128 trading accounts simultaneously and up to 10 demo accounts. Users can trade across multiple accounts and trade instruments with the same suffix across different account types. However, this platform is only available on Windows and Linux.

Exness Account Types

Exness offers two standard account types for trading: Standard and Standard Cent. Both accounts feature relatively low spreads, starting from 0.3 pips for some forex pairs. Additionally, neither account charges commissions for trading any assets, and leverage is unlimited, which is unprecedented.

Traders may find this appealing, but it requires a keen understanding of margin; otherwise, there is a high risk of blowing up your account.

The Cent account only allows trading forex and metals, excluding other assets like stocks and cryptocurrencies. In contrast, the Standard account enables investors to trade any asset offered by Exness.

Exness's professional accounts are designed for experienced traders and come in three types: Raw Spread, Zero, and Pro. These accounts are beneficial for scalpers and algorithmic traders.

The minimum deposit for all three professional accounts is $500. Raw Spread and Zero accounts offer zero spreads with commissions starting from $0.2 per lot. Additionally, the Pro account has no commissions, and spreads start from 0.1 pips.

Leverage on these accounts is again unlimited, which may seem like a great idea, but primarily, only the most experienced traders can take advantage of this.

Deposits & Withdrawals at Exness

When it comes to deposits and withdrawals, Exness offers more options than your average broker. They provide flexible payment options in local currencies, including traditional methods such as bank cards and online banking.

They also offer the most popular electronic payment methods, such as e-wallets and even cryptocurrency wallets. Some of these include USD Coin, Tether, WebMoney, Neteller, and more. Below is a comprehensive table of their payment options.

The minimum deposit for each trading account (whether Standard or Pro) will depend on your payment system. For the most part, all methods require a minimum deposit of $10, except for bank wire transfers, which require a minimum amount of $10,000. Processing times for deposits will also depend on the payment method you use. For instance, using a bank card will result in instant transactions, while other methods like Perfect Money can take up to 5 days.

If clients wish to withdraw money from their accounts, they will also need to use one of the payment methods to do so. The minimum withdrawal amount will also depend on the method, and processing can take from 8 hours to 7 days, depending on your chosen method.

Customer Support Services

Exness offers four customer support services for its clients and potential new traders. These services come in the following forms:

• Help Center
• Live Chat
• Email
• Phone

Help Center

Their Help Center revolves around the FAQ section, where you can search for any topic related to the company, Exness accounts, products, and trading in general. Here, you will find solutions for payment systems, terminals, trading, and even VPS.

Live Chat

Live chat at Exness is a feature you can access directly from their website. If you have any questions, you will initially be guided by a virtual assistant and provided with a few questions or criteria to better understand your issue. If the virtual assistant cannot help, you will be connected to someone from the support team. Registered clients will need to provide their account number and support PIN.

Email

Email support is available at support@exness.com. If you prefer to use this support channel, be aware that the typical turnaround time is 24 hours.

Phone

For phone support, Exness has offices in the UK, Cyprus, Seychelles, South Africa, Curacao, and the British Virgin Islands. Depending on your location, the website will default to the appropriate page in the “contact us” section, where you can find the available phone numbers listed for your region.

Customer Support Overview

Restricted Countries: Where Can't I Trade with This Broker?

Citizens of certain countries will not be able to trade with Exness due to various laws, regulations, and regulatory bodies in those countries. Exness identifies a citizen by their national identity document (passport).

Additionally, they do not accept residents of specific regions, considering a resident as someone living in a country.

Citizens and residents of the United States, American Samoa, Baker Island, Guam, Howland Island, Kingman Reef, Marshall Islands, Northern Mariana Islands, Puerto Rico, Midway Atoll, Wake Island, Palmyra Atoll, Jarvis Island, Johnston Atoll, Navassa Island, Martinique, Vatican City, and the U.S. Virgin Islands are not accepted as clients by Exness.

We also provide a list of other regions where residents will not be accepted as clients:

• North America: Canada, Cuba
• South America: Uruguay
• Oceania: Australia, New Zealand, 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, United Kingdom
• Africa: Seychelles, Sudan, South Sudan
• Middle East: Iraq, Iran, Syria, Yemen, Israel, and Palestinian Territories
• British Overseas Territories: Gibraltar
• Dutch Territories: Curacao

Special Offers for Clients

Exness does not offer sign-up bonuses like some other brokers, such as dual sign-up bonuses, tiered bonuses, or loyalty points that allow you to receive gifts. Some brokers even offer reduced spreads in certain cases related to their loyalty programs.

However, Exness occasionally offers various bonus credits to its clients, which can be used in trading activities. These may be limited to specific jurisdictions or countries, certain account types, and other criteria.

In addition to these conditions, some other terms apply to the bonus credits. Credit Compensation is based on the amount of Credit/Bonus lost due to losing trades. A client's trading account cannot have Credit/Bonus if the Credit Compensation exceeds the Credit/Bonus calculated after the Net Deposit. Clients activate the Credit/Bonus at a rate of 10% for their trading accounts.

Bonus credits are applied depending on the client's jurisdiction.

Conclusion of Exness Review

Exness has been in operation for over 14 years, offering a user-friendly and comprehensive trading platform, which is well-suited for both beginner and advanced traders.

Exness provides a user-friendly and comprehensive trading platform, suitable for both novice and seasoned traders. Users can opt to use their proprietary platform or the popular MetaTrader 4 or MT5.

They offer a variety of account types, ranging from retail accounts to professional accounts. Exness also provides negative balance protection, offering an additional layer of security. They provide low spreads and do not charge fees for withdrawals, deposits, or inactivity. Finally, you can trade currency pairs, cryptocurrencies, stocks, indices, and commodities, allowing you to effectively diversify your portfolio.

Summary and Key Takeaways

Exness is a reliable broker primarily trading in forex and stocks. If you wish to trade a wide variety of cryptocurrencies or other commodities, this broker might not be the best fit for you. However, in terms of forex, they essentially provide accounts suitable for all types of traders and offer over 300 currency pairs for trading.

The minimum deposit for all accounts is typically no more than $10 if you use certain payment methods (of which Exness offers many). Additionally, they are regulated by several global authorities, making them very reliable. However, note that customers in the EU can no longer trade on retail accounts as their services in that region are now focused on B2B.

Key Points:

• Long-standing and Legitimate: Operating since 2008, proving their longevity and legitimacy.
• Licensed Broker: Regulated in multiple jurisdictions.
• Accessible for All Budgets: Minimum deposit is $10 with low spreads.
• No Withdrawal, Deposit, or Inactivity Fees: Ensuring cost-effectiveness for traders.
• Negative Balance Protection: Adds an extra layer of security.
• Multiple Terminal Options: To suit everyone, including web-based, desktop, and mobile applications.