Exness Review 2021: Is It a Legit Forex Broker? – CryptoNewsZ

Before the advent of the internet, investors had to seek the help of a stockbroker to buy a stock trading account. But now, people are relying more and more on online brokerage firms that provide various options for investors to buy and sell mutual funds, bonds, and equities. Online brokers have also given customers the opportunity to keep an eye on the trades they are involved in. The multiple options available on the internet have given investors an edge to manage multiple positions at once. The online brokering system has opened the doors to the world of investments to people all over the world. As opposed to the limited knowledge that people had on stock marketing a few decades back, we have seen a new rush in the world of investments. Thanks to online broker systems, which have opened up financial trading to more customers and attracted more investors than expected. To know more about how the online broker system works, read through the Exness review, where we have given a comprehensive overview with complete research to determine if this is what you are looking for based on your priorities.

Exness Overview

Headquarters Cyprus
Founded Year 2008
Regulated Yes
Products offered Trading Platform, Forex, Stocks
Minimum Initial Deposit Depends on Your Country of Residence
Maximum Leverage 1:Unlimited and varies
Islamic Accounts Yes
Demo Account Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
Trading fees Depends on Your Account Type
Inactivity fee No
Withdrawal fee No
Supported currencies USD, EUR, JPY, CAD
Customer Support 24/7 Support, Email, Phone, Live Chat

What Is Exness?

Exness is a reputed International Online Forex Brokerage Firm that focuses on providing retail foreign exchange services, partnerships, and corporate solutions throughout the world. This stock brokerage firm was founded by Igor Lychagov and Petr Valov in 2008. It renders services through its registered offices in London, United Kingdom, and Limassol, Cyprus, and is licensed by various regulatory authorities. Honesty and transparency are the company’s hallmark principles that have garnered a good reputation among investors, financial journals, rating agencies, and online publications, thus, attracting clients all around the world. The firm has been providing traders with new opportunities, constant improvement, and a chance to explore different financial services. The trading procedure is carried out on the user-friendly MT4 platform, which allows the investor to trade a variety of CFDs and Futures in a variety of places.

Exness Platform InterfaceExness Platform Interface

Sign Up Now

Features of Exness

When it comes to virtual brokers, the user interface remains the focal point. The look of the website or mobile app, the design, and most importantly, the features available to users play a pivotal role. Having said that, Exness seems to have strived hard to make its platform stand out by enhancing the features of the website. Read our Exness reviews, to know more:-

Website Design

The look of the website is something that any new user will be amazed at. When the user opens the website, not only will the color, font, and design grab attention, but even the interface would look user-friendly and easy to navigate.

MetaTrader 4 and and MetaTrader 5

In this Exness review, one must expect to read on MetaTrader 4 and 5. It is not surprising that the broker is compatible with MetaTrader 4 and MetaTrader 5 (MT4 and MT5 respectively). Known to be the leading platform for forex trading in the world, these two platforms have a plethora of features for users. It gives them the room to run trading bots like EA, analyze financial markets, and also conduct advanced trading actions. They can even copy other investors’ strategies without any hassles.

Tick History

The Broker Tick History is a publicly accessible feature that ensures that investor orders are executed at true market prices. It allows investors to double-check whether their orders are being carried out correctly.

Trader’s Calculator

With Traders Calculator, the customer will get an accurate check on the cost of the transactions. The trader’s calculator aids in evaluating the basic values of the trade that they want to open. This includes pip value, margin, swap long, volume, swap short values, as well as lot price.

Expert Advisors (EA)

Expert Advisor is the program that is usually installed on both MT4 and MT5 trading terminals. By doing this, the trigger alerts that are set for certain parameters will give instant trading actions and notifications to the user when the required market conditions are met.

VPS Solutions

A 24-hour remote terminal, the Virtual Private Server or VPS, improves the efficiency and quality of the connection. Thus, the user can ensure that the transactions are delivered to the server without any delay.

They can avail of free VPS by having an account in the Personal Area or PA. Some of the criteria that should be followed include:-

  • At least US$500 in lifetime deposits (or the account’s currency equivalent).
  • A free margin of at least US$100.
  • A free margin of at least US$100 throughout the application period.

Exness Acadamy

Both novice and expert traders can use the vast training center with a library of trading resources. The academy allows them to explore a wide variety of new trading techniques and check daily market surveys with the resources provided.

Best Rates via ECN

This broker provides traders with the ability to connect to the interbank markets at the best available prices via an ECN account. The system organizes the client’s orders in a way that it compares pricing with the providers connected to the aggregator and strategically executes the orders for the best prices.

In addition, relevant data can be easily procured through request.

Exness FeaturesExness Features

Sign Up Now

Services Offered by Exness

Service rendered by Exness is reliable, accessible and of high quality – they stand out from the other online brokerage firms by using the most innovative and advanced technologies. They are user-friendly and easy to work with. As per the Exness reviews, it offers the following services:-

Cryptocurrencies

CFDs on prominent cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, and Bitcoin Cash can be traded.

Indices

Renowned indices can be accessed to trade CFDs. This includes S&P 500, FTSE 100, Dow Jones Industrial Average, to name a few.

Energies

USOil and UKOil contracts can be traded.

Stocks

CFDs on stocks like Apple, Google, Tesla, and others are available to trade.

Forex

Gold, Silver, Platinum, Palladium, and other precious metals can be traded in the form of currency pairs.

Is Exness Regulated?

As per our Exness reviews, Exness is regulated by the most stringent regulatory bodies, like UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Exness is regulated as a securities dealer by the Seychelles Financial Services Authority (FSA) and the latest with FSCA (South Africa). It has managed to seep into various territories to help customers transact across the EU region. The FSCA is a regulatory body based in South Africa. It is highly esteemed as a regulatory body in South Africa.

Exness RegulationsExness Regulations

Sign Up Now

Exness Review: Pros and Cons

Pros Cons
 Around 107 currency pairs are supported.  The jurisdiction of Seychelles having low protection of the rights of clients of financial companies is a risk factor.
 Offers lowest commissions in the forex market.  The market choices are narrow.
 Zero spread accounts.  No instruments for passive investment.
 Many options are available for trading accounts with varied approaches to charging a commission for new traders and experts.  Analytical content and learning seem to be superficial. 
 More than 60 base money of the account.  MTS does not have the Standard Cent Account.
 Archived Tick data since 2015.  US and Israel citizens are not allowed to register.
 Fast withdrawal methods and deposit process.  Research materials are limited. 
 24/7 customer protection service available.  Professional accounts need to have a high minimum deposit.
 Regulated by the FCA, CySEC, and FSA  Limited range of financial instruments

Exness Account Opening Process

1. Some of the criteria required for a person to open an Exness account are as follows:-

  • The trader should be 18 years of age or above. 
  • Should not be a citizen of the USA. 
  • Should not be bankrupt.

2. Submission of required documents:-

  • While opening an account, the user should verify his information and fulfill KYC requirements.
  • Identity verification – Any government-issued ID, valid passport, or even a driver’s license.
  • Address verification – Bank account/credit card statement, income tax bill, government-issued ID, and Utility/telco bill.

3. Open an account with Exness with the following steps:-

  • Type www.Exness.com on the browsing page.
  • On the homepage, under the tab ‘new account’, select the country of residence is mandatory. Add an email address and set a password.
  • Click ‘Continue’ to proceed.
  • Log in – By logging into the ‘Personal area’, the user will be able to view two accounts – an actual trading account and a demo trading account for the MT5 trading terminal.
  • Verification procedure – The user will be able to unlock all the trading account features by uploading the required documents and verifying the account. 
  • Deposit funds – Once the account is activated, the user can start trading.

Exness Registration ProcessExness Registration Process

Sign Up Now

Types of Exness Accounts

According to the Exness review, it has a wide range of accounts to offer when it comes to account types to choose from. These accounts are varied in nature and designed to suit everyone interested in trading.

The accounts are mainly divided into two major types, designed to suit the needs of traders, including its own set of rules regarding margin calls, commission, and leverage to name a few.

Here are the 4 types of accounts in Exness:-

  • Exness Standard Cent
  • Exness Standard
  • Exness Pro
  • Exness Zero account

Standard Cent Account

Standard Cent Account is the best option for beginners because it gives a real feeling of being a trader. Be it the price volatility, spread, and slippage, with this account the trader will get a fair knowledge of what Forex risk is.

  • As stated earlier, this account is suitable for new traders as only the minimum deposit of 1 USD is required to open it. It helps in getting hands-on knowledge in Forex Trading.
  • As opposed to other trading brokers, the lowest fee that the broker charges is considered to be the best.
  •  The very high leverage that this account has to offer ensures to keep the trader’s position longer with a low margin.

Exness Standard

Exness Standard is an account that is ideal for everyone. This comprises both novice and seasoned traders. Approximately 80% of traders in Exness open this category of account.

  • A one-time deposit of $1.
  • The minimum trading volume of $0.01.
  • The spread is extremely modest, with major currency pairs having a spread of less than one pip.
  • Standard account, like Standard Cent and Pro accounts, does not charge a commission.
  • A Standard account offers a great amount of experience in trading, including risk control.

Exness Pro Account

According to reviews, Exness Pro Account is the finest option for trading specialists and professionals who are serious about the Forex Market. The website’s adaptability and reasonable nature, as well as its user-friendly interface, make it a welcome place for traders.

Investors can execute millions of trades without incurring commissions, The Exness Pro Account has a very low spread when compared to other Forex Trading Brokers. Any seasoned trader would like to put their money into forex brokers with lower spreads. And with payouts as low as 0.1 pipis, this account is in high demand.

  • The opportunity to trade with 120 different currency pairings, and the account type’s infinite leverage and near-zero margin are further benefits.
  •  A large range of instruments.
  • Trade with gold, silver, Bitcoin, Litecoin, and a variety of other instruments.
  • No commission charges in trading cryptocurrencies. 

Exness Zero

Exness Zero or the Electronic Communication Network (ECN) account. This account allows trading with experts, professionals, and investors. It is a zero-type account, thus benefiting many in this place of investing business.

  • For currency pairs such as EUR/USD, USD/JPY, and CAD/USD, the Exness Zero spread is incredibly low, nearly zero. Zero spread is, without a doubt, the ideal and appealing condition for brokers to attract traders. EUR/ USD is a popular trading pair. Most crypto exchanges support the EUR/ USD trading pair. Exness also supports the EUR/ USD trading pair.
  • Currently, Exness offers four different liquidity sources. As a result, with a Zero account, customers get better, more consistent ECN quotations from Exness. If one opts for other brokers, they may run into some quote problems.
  • Deposit methods of Exness are simple. Unlike other brokers that demand traders to deposit thousands of dollars to begin trading, Exness simply requires them to deposit $300 to begin. This benefit appeals to low-capital traders. They don’t have to invest a lot of money to trade, and they can do it with a Zero account. 

Exness Raw Spread Account

Exness Raw Spread is a new account type that was introduced in late 2019. This account resembles Exness Zero in many ways, however, the spread is not as low. The following are the account details for Raw Spread:

  • A minimum deposit of $200 is required.
  • Maximum leverage on the MT5 platform is 1: 2000, but on the MT4 platform, it is unlimited.
  •  Lot commission: $7.
  •  Spreads start at 0.1 pip.

Exness Trading Platforms (Include Exness Options Trading)

The trading platforms of Exness Forex brokers are extremely niche. Any investor would be interested in them. In this Exness review, let’s look at the trading platforms that are available for the traders to choose from.

MetaTrader 4

MT4 is known for its versatility, and is a tried and tested application widely used around the world.

The advantages of using this application are listed below:-

MetaQuotes MQL4 lets anyone construct their trading robots and scripts, and importing Expert Advisors just takes a few minutes.
Analytical Tools The analytical tools are built-in with the inclusion of 30 built-in technical indicators and 23 analytical objects.
Security Encryption of all communications between the server and the trading platform using 128-bit keys for utmost security.

MetaTrader 5

MT5 is the advanced version of MT4. It is equipped with an enhanced interface with extra features for a great user experience.

Advanced platform MQL5 removes the limits of MQL4, allowing for more sophisticated trading robots and scripts.
Analytical Tools There are 38 built-in indicators, 22 analytical tools, and 46 graphical objects among the analytical tools.
Various Trading Options More trading choices, including eight different types of pending orders (2 of which are MT5 exclusives).
Calendar Comes equipped with a built-in economic calendar with news and projections.

WebTerminal

WebTerminal is an online platform that allows the user to completely trade using the MT4 and MT5 frameworks user experience. The key advantage of this platform, which is only available within an MT4 framework, is the extensive trading account management tools it provides. There is the possibility to trade on up to 128 real accounts or 10 demo accounts at the same time (opened on the same server). On the other hand, analytical tools such as charts and EAs are not available. This platform is only accessible for Windows, and it must be downloaded and installed before it can be used. 

Exness Platforms

Some custom-made options available on Exness Platforms are Trader mobile app, Exness Trader mobile app, Social Trading mobile app, and Exness Terminal online trading platform.

Exness Trader

For a comprehensive and compact Forex Trading Terminal, the Exness Trader Mobile App is the best trading app on the go. Here, the user can manage Exness accounts, security, with technical analysis and economic stories.

Exness Terminal

Exness Terminal is a browser-based MT5 terminal available only for MT5 accounts. It requires no installation or downloads and offers the required functions with basic features.

Social Trading

The Social Trading mobile app is a platform that allows investors to replicate active traders (also known as strategy suppliers) to profit from profitable transactions. Although Social Trading does not come with its trading platform, it acts as one when investors copy deals.

Exness Options Trading

Exness Options Trading is also known as Islamic accounts, which enable Forex traders to follow Sharia law standards. Interest is forbidden under Sharia law, hence this Exness Options Trading does not pay or earn overnight interest or charge rollover fees on open positions.

Exness Leverage

As opposed to other brokerage firms, Exness offers 1:2000 on all accounts, the highest leverage level to be provided. It also includes a calculator that calculates the maximum leverage and margin needs based on the trader’s current account equity. And by providing the leveraged products, Exness broker offers traders a chance to increase their profit, where they can double up their invested amount. Albeit the profit, leverage can transpire into potential loss, thus giving a warning sign that for new investors, leverage trade can be a risk warning too.

Sign Up Now

Exness Tools

The core purpose of trading is to double up the invested amount and to reap utmost success from it. To achieve them, Exness broker has tools using which investors can enhance their trading strategies and predict their trading accuracy. There are three types of trading tools available on the platform – calculator, convertor, and VPS hosting. The following are their functions:-

  • Calculator- Allows investors to get data on the basics of trading positions such as volume, swap short, swap long, lot price, margin, and point profit.
  • Converter- Major currencies can be instantly converted. 
  • VPS Hosting– Helps in stability, speed, 24 hours trading, and portable trading.

Exness Trading Fees

To begin with, fees are usually charged by Exness depending on the account type. Commission fees are levied on the Raw account for up to $3.5 and Zero Account from $3.5, respectively. Both Pro and Standard accounts are free of any commission charges. Exness brokers also charge an overnight fee if positions seem to be held for more than a day. Each instrument has its fees based on these overnight or rollover positions. They are either charged as a fee or provided as a refund.

In addition, the Standard Account has a minimum deposit of $10 and the Raw Spread Account, along with the Zero and Pro accounts, have a minimum deposit of $500. Furthermore, there are no fees or charges on deposits and withdrawals, making the broker a better platform for trading. However, before completing any form of transfer, investors should check with their selected payment provider for further assistance, considering the payment provider may waive fees that the trader will be responsible for.

Deposit & Withdrawal Options

When it comes to deposit and withdrawal options, it is interesting to know that the investors’ funds are processed with immediate effect. This is to help investors in transferring their money to and fro without any hassle. With this, the investors get all the freedom to have control of their funds 24/7.

Some facts about the concept of deposit and withdrawal options:-

  • Only the Exness platform has metal currency accounts.
  • Visa and Master cards can be used for almost all entities. Though deposits are processed instantly, withdrawals typically take 3-5 working days if a bank card is used.
  • Instant withdrawal speed –Perfect Money, Skrill, AstroPay Card, WebMoney, Neteller, and Internal Transfer.
  • The commission on deposits and withdrawals is based on the payment methods utilized.
  • Traders can hold their funds in any of the 80 supported fiat currencies, as well as the specialized metal currency accounts featured exclusively on Exness forex broker. Get more details by clicking here.

Exness Partnership

The Exness Partnership Program is a good way to earn a passive income by introducing clients to Exness. The ‘partner link’ is pivotal in the Exness Partnership Program. It is a unique URL that serves as a referral ID that investors can share with the clients. Once the URL is shared and the potential client signs up using the partner link, the investor will be rewarded accordingly.

Exness PartnershipExness Partnership

Sign Up Now

Exness Bonus

Currently, Exness brokers do not offer a marketing bonus program. This is due to forex market regulations that prohibit bonuses to onboard clients in the Forex marketplace.

Resources Offered by Exness

Exness brokers offer a provision for any kind of customer who is keen to learn the traits of getting into the investment business. The resources provided by Exness include Facebook, a Youtube channel, and a blog page, where new as well as old investors can get information related to the business of trading environment, trading conditions, and many more. Given below is a review of the resources provided by Exness:-

Exness Facebook Account

Those interested in the business of forex brokers like Exness can visit the Exness Facebook page, where they can retrieve information related to this forex broker. Exness posts a lot of updated information and content related to financial instruments, trading conditions, market values, and forex pairs. The page has no restrictions, and anyone interested in the field of trading can visit the page to read an updated post.

Exness Blog

The more the knowledge on trading, the better it is – This phrase refers to Exness, where a trader can read a lot of blogs and articles on various topics on Exness trading, its trading styles, forex pairs, and trading services.

Articles related to educational content, comparative analysis of different trading places, and other financial instruments can also be found. All the blogs are well researched and written by experienced trade analysts, blog writers, and technical specialists.

Exness YouTube Channel

Those who do not wish to read can always visit the Exness brokers YouTube channel where one can find information related to trading and investments. They can get updates on market analysis, trading strategies, and the conditions of the trading environment. 

Exness Mobile App

The Exness app is one of the most convenient methods to access the Exness platform on the go. With this trading app, the user can get any information related to the financial markets with just one click. The investor can click on the features on the mobile app to get a feel of the app’s super-speedy order execution, MT4 and MT5, low spreads, instant withdrawals and deposits, forex pairs, and complete control of the account. The live chat feature on the app is something that cannot be missed. The live chat is something that is easy to operate.

Exness Mobile AppExness Mobile App

Sign Up Now

Exness Security Measures

Security of traders’ accounts is of vital importance to the broker. To provide utmost security to the users, Exness has implemented a 2-factor authentication protocol to protect login details.

To keep the trading accounts secure and safe, the broker has developed optimal systems and security methods, which regulate the authentication of the user and checks that all the trading operations are executed by the owner and no one else.

The client’s account funds invested for trading are separated from the company’s funds, thus ensuring that the funds are safe and not at risk. All the user data is encrypted when transmitted to the database and is protected using cybersecurity protocols. This way the account stays private at all times.

Exness Customer Support

Exness offers a high-quality customer support team that solves all their clients’ issues in a jiffy. Customers facing any trading-related problems can contact the customer service over the phone, live chat, call back service, or email. Though the website content is available in 18 different languages, the customer support offers 24/7 service only in English, Thai, and Chinese.

Exness Customer SupportExness Customer Support

Sign Up Now

Exness Review: Conclusion

What makes Exness different from other brokers is the user-friendly website accessible to all the clients irrespective of how old or new they are to the trading business. It stands by quality service. On the other hand, brokers, customer support is efficient, reliable, and safe. 

A proper background verification should be done when a new trader wants to open a trading account in any brokerage firm. This should include examining what the firm offers, trading fees, trading accounts, and other features. Compared to all the list of forex brokers, Exness has attractive trading plans like hassle-free registration, tick history, demo trading accounts, minimal trading fees, forex pairs, and many more.

Finally, Exness Forex Broker is apt for beginners to begin their trading journey. Though it has not expressly marketed itself, this award-winning platform is widely recognized throughout the world. The website operating in 18 languages proves the mark it has made in the trading industry.

FAQs

Is Exness a Good Forex Broker?

Regulated and authorized by Exness UK Ltd, and Exness CY Ltd, Exness is a good broker firm that has created a niche trading environment for new as well as seasoned traders. They have no hidden commission and an opportunity to trade several CFDs in different places makes it a reliable and stable platform. Most reviews give it a good rating.

How Trustworthy Is Exness?

Many people wonder if Exness is a scam. The Exness Group has established its existence in various countries and has its firm regulated. For instance, Exness UK Ltd is regulated by the Financial Conduct Authority. It is also licensed and regulated by CySEC. This has enabled the firm to cater to financial products in the territories recognized by the platform. Many reputed firms are regulated by CySec. However, when it comes to investing, a trader should read through the terms and conditions and understand if it goes well with their potential and also if the broker’s operations comply with their residing company’s legal requirements. According to this review, Exness is not a scam broker.

How Many Days Does Exness Withdrawal Take?

It can take anywhere from one minute to seven business days, with no commission.

Is Exness Good for Beginners?

Most reviews say that Exness is indeed good for beginners, especially if they choose Exness Standard Account where they can invest just $1. This account helps in resolving all the doubts and problems that s trader faces at the beginning of the trading process. The trader will also get to learn what real trading is and the risk involved in forex trading.

What’s the Minimum Deposit for Exness?

 Exness offers a minimum deposit of $1 for a Standard Account and $200 for a Pro Account.

Which Exness Account Is Best?

The Exness Standard Cent Account is the best account, to begin with, because it has good prices, good execution, low spread, and low volatility.

Does Exness Have a Bonus?

 No, Exness does not have any bonus programs currently.

What Type of Broker Is Exness?

Exness is a Forex broker that trades money and bitcoins.