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Exness Review

Is Exness the right CFD trading platform for newbie traders? Read our detailed review of the Exness platform to find out about all of its features and account types.

Written by James Morgan Published on

exness review

Exness Group was founded in 2008 and is regulated and licensed by the UK Financial Conduct Authority, the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of Seychelles. According to the official Exness website, the group is considered to be an industry leader, offering traders the opportunity to trade a wide range of asset classes, including Forex, CFDs, Cryptocurrencies, Metals Energies, Stocks and Indices. It is reported that the Exness group has more than 100,00 active traders and posts key performance indicators on its website.

It is reported that Exness Group is the broker of choice for every trader who demands high-quality services; a fact which is confirmed not only by the experience and opinion of the trading community, but also by the ratings given by major online publications, ratings agencies, and financial journals.

We decided to investigate these claims to find out whether it is true and whether Exness Group can be considered to be one of the leading trading brokers in the industry.


What is Exness Group?

The Exness Group was founded in 2008 as a global brokerage firm that has two main offices in the Seychelles and in Cyprus. The Exness Group provides traders with financial services and investment solutions that are tailor-made according to the needs of the trader. The Group is also registered with the FCA and Cysec and it is reported that Exness provides traders with an array of CFDs and futures on a wide variety of markets.

The Exness Group has won numerous awards as a retail broker and offers new and experienced traders a safe and reliable brokerage service. The trading process is powered by the renowned MetaTrader 4 platform, MetaTrader 5 platform, mobile and the MetaTrader4 WebTerminal. The official Exness Group website has been localised into 18 languages to support traders globally. According to reports, the Exness Group provides traders with over 100 different currency pairs to choose from and is an industry leader in the financial brokerage industry.


Is Exness a Scam or Legit?

The most important information a new trader needs to research about any trading platform or investment solutions company, is whether or not they are regulated or governed by an authority. Usually, companies who are not regulated should not be trusted. The Exness Group is regulated by CySEC and the FCA. Furthermore, negative balance protection is applied, funds are kept in segregated accounts and annual reports are readily available. Regulated brokerage companies have to adhere to strict guidelines in order to protect the trader against any fraudulent activity or theft of funds in their account. The Exness Group seems to be fully transparent.


Pros and Cons of Exness Group

ProsCons
✔️ Segregated client funds. Limited range of instruments when compared to its competitors.
✔️ Regulated by CySEC and the FCA.
✔️ Fast digital account opening.
✔️ Practice Demo Account.

Additional Key Trading Features

It is reported that Exness provides a range of additional trading features which we will list below:

  • Free VPS hosting: Exness offers traders free VPS hosting services for live accounts where a deposit of $500 has been made. This will allow traders to connect all their trading terminals from a remote terminal.
  • Social trading: Exness provides traders with a social trading feature. This feature can only be viewed once logged into an account portal. There is also a social trading app that can be downloaded from the website.

Account Types

There are basically two main account types Standard Accounts and Professional Accounts.

1. Standard Accounts

The Standard account is reported to be one of the most popular choices and ideal for new traders entering the cryptocurrency market.

  • Minimum deposit: 1 USD
  • Leverage up to: 1:2000
  • Trading instruments: Forex currency pairs, metals, cryptoсurrencies, energies, indices
  • Commission per lot/ side: No trading commission
  • Spread from: 0.3
  • Minimum lot size: 0.01
  • Maximum lot size
  • 7:00 – 20:59 GMT+0: 200 lots
  • 21:00 – 6:59 GMT+0: 20 lots
  • Maximum number of positions: Unlimited
  • Hedged margin: 0%
  • Margin Call: 60%
  • Stop Out
  • 0% (see details about stocks)
  • Order execution: Market
  • Swap-free for Muslim countries: Available

2. Professional Accounts

The Professional account is intended for experienced traders. There are three sub accounts, under the Professional Account option, which we will detail below:

2.1. Raw Spread

  • Description:The lowest raw spreads and a low fixed commission.
  • Minimum deposit: 500 USD
  • Leverage up to: 1:2000
  • Trading instruments: Forex currency pairs, metals, cryptocurrencies, energies, indices
  • Commission per lot/ side: Up to 3.5 USD
  • Spread from: 0.0
  • Minimum lot size: 0.01
  • Maximum lot size: 7:00 – 20:59 GMT+0: 200 lots | 21:00 – 6:59 GMT+0: 20 lots
  • Maximum number of positions:Unlimited
  • Hedged margin: 0%
  • Margin Call: 30%
  • Stop Out: 0%
  • Order execution: Market
  • Swap-free for Muslim countries: Available

2.2. Zero

  • Description:Get 0 spreads for 95% of the trading day on 30 pairs.
  • Minimum deposit:500 USD
  • Leverage up to: 1:2000
  • Trading instruments:Forex currency pairs, metals, cryptocurrencies, energies, indices
  • Commission per lot/ side:From 3.5 USD
  • Spread from:0.0
  • Minimum lot size:0.01
  • Maximum lot size: 7:00 – 20:59 GMT+0: 200 lots| 21:00 – 6:59 GMT+0: 20 lots
  • Maximum number of positions: Unlimited
  • Hedged margin: 0%
  • Margin Call: 30%
  • Stop Out: 0%
  • Order execution: Market
  • Swap-free for Muslim countries: Available

2.3 Pro

  • Description: Our Instant execution account. Excellent fill with no trading commission.
  • Minimum deposit: 500 USD
  • Leverage up to: 1:2000
  • Trading instruments: Forex currency pairs, metals, cryptocurrencies, energies, indices
  • Commission per lot/ side: No trading commission
  • Spread from: 0.1
  • Minimum lot size: 0.01
  • Maximum lot size: 7:00 – 20:59 GMT+0: 200 lots | 21:00 – 6:59 GMT+0: 20 lots
  • Maximum number of positions: Unlimited
  • Hedged margin: 0%
  • Margin Call: 30%
  • Stop Out: 0%
  • Order execution: Instant, market
  • Swap-free for Muslim countries: Available

Opening an Account with Exness

Exness offers a very simple account opening process. It takes 10-20 minutes to open a new account if the verification process is successful. Here are four easy steps to opening a new account with Exness:

Registration

On the official website, in the right hand corner of the home page, there is a ‘new account’ button which will open a simple registration form. The registration form requires traders to fill in basic information such as, name, surname, email address and contact number. It is important that new users complete this information accurately, so that verification can take place. New traders will also be required to create a secure alphanumeric password.

Verification

The verification process is seamless. The only time verification will be unsuccessful is when the trader submitted information incorrectly. Usually verification takes place through the contact number or email address provided. It takes 24hours for the account to be verified.

Select and Account Type

After verification, the trader will proceed to select their account type. Each account has different features which we have highlighted before and each account type has a different minimum deposit requirement.

Demo account

One of the most significant features of Exness is that it offers traders a demo account option. The demo account is specifically designed for new or inexperienced traders to familiarise themselves with the platform and gain some experience before live trading starts.

Live Trade

Once the trader has completed their training on the demo account, and made the minimum deposit for the account type they have chosen, they can then start to live trade.


Exness Trading Platforms

The Exness Group supports two MetaTrader Platforms, which is MT4 and MT5. These platforms are developed by MetaQuotes Software Company. MetaTrader is known globally as the best trading platform for technical traders. MT4 can be downloaded from the Exness official website and its installation takes only two minutes.

Key Features of the MetaTrader 4 Platform

  • 30 built-in indicators
  • Instant market execution types
  • Autotrading via MQL4
  • Real time price indicators
  • Available on IOS, Android, Linux, Windows and Mac

Key Features of the MetaTrader 5 Platform

  • 38 built-in indicators and 22 analytical tools.
  • Access to fundamental analysis via a built in economic calendar and news events.
  • Access to 21 time frames.
  • Develop automated systems via MQL5.

Mobile Trading Platforms

The MetaTrader 4 and 5 platform is also available on a mobile trading app for Android and iOS systems. These apps can be downloaded directly from the broker’s website or the Google Play and Apple Appstore. From the app, users can access a variety of features including quotes, charts, an economic calendar, news and much more.


Deposit and Withdrawal Methods

According to reports, there is no fee charged for deposits or withdrawals. Here are some of the deposit methods that is accepted by Exness:

  • Credit/Debit Cards: Traders are able to use VISA or Master credit or debit cards to add the funds to the account they’ve chosen. It is reported that the minimum amount for deposit using the card is $3.
  • E- Wallets: Transfers can take place using various E-Wallets like Neteller, Skrill, Perfect Money,among others is also accepted. It is reported that the Minimum amount for depositing funds using the E-Wallets vary depending upon the type of E-Wallet that traders choose.
  • Bank Transfers: Bank Transfers are accepted too, however, a minimum of $50 is required to deposit funds using Bank Transfers.

Commission and Spreads

With Exness trading cost will vary depending on the type of account the trader chooses and the market being traded. Some accounts offer commission-free trading while others are commission-based with raw spreads from 0 pips. For example, the professional account offers commission-free trading with spreads starting from 0.1 pips, while the Raw Spread account offers commission-based trading up to 3.5 USD per side, with spreads starting from 0 pips. The Zero account on the other hand offers commission-based trading starting from the 3.5 USD side with spreads starting from 0 pips. Of course, spreads and wraps vary and depend on the type account and instrument being traded. Unfortunately, a fixed spread is not available.


Customer Service Support

It is reported that Exness has an excellent Customer Service Support department that is available 24 hours, seven days a week. The customer service support department can be reached via email, telephonically or live chat and can accommodate english and chinese speakers, as well as 11 other languages.

Contact information:

  • Address: Nymstar Limited, F20, 1st Floor, Eden Plaza, Eden Island, Seychelles
  • Email: [email protected]
  • Social Media:
    • https://www.facebook.com/exness/
    • https://twitter.com/exness
    • https://www.linkedin.com/company/exness/
    • https://www.youtube.com/user/EXNESSchannel
    • https://www.instagram.com/broker_exness/

Research and Educational Tools

Exness offers traders a wide variety of research and educational tools through an economic calendar and trader’s calendar on its website and through the mobile app. There is a trader’s calculator, insight and analysis tool, trader education and trader experience tools available for all traders on Exness.


Our Conclusion

The Exness Group was reportedly founded in 2008 and is regulated and licensed by CySEC and the UK FCA. The group has claimed to have more than 80,000 active traders on their accounts. From our research and various user-testimonials we have seen online, we can assume that the Exness Group is credible and a valuable resource for any trader interested in entering the financial market.

The Exness Group offers new and experienced traders the ability to trade on a wide range of asset classes covering Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices across five core trading accounts. A demo account feature is also available to help new traders find their feet on the platform.

Although, this platform seems credible, we recommend that any new trader makes sure that they do enough research on the platform before live trading can start. The financial market is volatile and its complex nature may confuse new traders. Once they have collected enough information to make an informed decision they can go ahead and start live trade.


FAQs

  • Is Exness a regulated broker?

Yes, by the Seychelles Financial Services Authority (FSA).

  • Where is Exness based?

Exness is a based in the Seychelles

  • How does Exness generate revenue?

Exness generates revenue mainly through spreads, swaps and commissions on certain tradable asset classes and commissions on certain trading accounts.

  • How do I deposit funds in my Exness account?

Funds can be deposited into a trading account via Bank Card, Perfect Money, WebMoney, Neteller, Skrill, Bitcoin and Tether.

  • What is the minimum deposit required for Exness?

The minimum deposit is 1 USD.

  • How do I withdraw money from Exness?

Withdrawals can be made from Exness via Bank Card, Perfect Money, WebMoney, Neteller, Skrill, Bitcoin and Tether.

  • What is the max leverage in Exness?

The maximum leverage offered by Exness is 1:2000.

  • How do I open an account with Exness?

An account can be opened at the click of a button on the Exness website and can be done in just a few steps.

  • Does Exness use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5.

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