Founded in 2008, Exness is a brokerage that has since gained momentum in the market and now has around 60,000 active client accounts from around the world. Traders gravitate towards Exness due to their regulatory oversight and licensing by the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), but also because Exness offers several types of flexible accounts and instruments resources to suit various strategies.
Exness continues to surpass new milestones, gaining market share from other major brokers, thanks to impressive sponsorships to Real Madrid FC and WWF Russia. Traders who join will find a safe and optimized trading environment, which extends to MT4 and MT5 platforms, operates in 13 languages and offers favorable trading conditions, including low spreads and ECN account availability.
Traders who value the legitimacy and compliance of their brokers consider Exness to be one of the best, as it is guided by various regulations and protections for investors from demanding and meaningless entities, such as the FCA. This includes mandatory compensation schemes designed to cover traders in the event of a broker’s insolvency, but in its decade of existence, Exness has not faltered operationally or financially.
• Tight spreads and low minimum balances reduce financial commitment
• Variety of account types, including Classic, Mini, ECN and Islamic
• Highly regulated and compatible with regulators, including FCA, CySEC, other
• Solid range of financial instruments, including over 120 currency pairs
• Excellent customer service accessible by email, phone, live chat and more
• Lesser number and variety of financial instruments than other brokers
• Leverage for European customers limited to 1:30
In addition, Exness will be especially appreciated by traders who do not wish to deposit much capital or do not plan to trade much. The Exness Mini account is perfect for these users, with a minimum deposit of $ 1, no deposit and withdrawal fees and a minimum lot size of 0.0001.
Key features of Exness
• Deposits and Instant Withdrawals
Deposits and withdrawals from customer funds are processed immediately by Exness, helping traders move money between accounts and an electronic wallet with unlimited agility. Internal transfers between accounts have the same speed, giving Exness customers full control over all of their funds 24 hours a day, 7 days a week.
• Negative balance protection
Traders using leverage may be concerned about their own liabilities if closing a position results in a negative balance in their trading account. In such cases, Exness always resets the trader’s account balance to zero – there is no obligation to deposit more capital to cover the negative balance.
• Low spreads from 0 pips
Exness spreads start at 0 pips and, on average, are 0.1 to 1.3 on Classic or Mini accounts. ECN account holders pay the lowest spreads, but they must also pay a commission commensurate with their turnover.
• Flexible leverage
Traders using any Exness account have access to the trading margin, which means that they can leverage their capital to gain greater exposure in the market. Due to ESMA restrictions, the maximum leverage accessible to European customers is 1:30, but they can choose between several smaller increments, such as 1: 2 or 1:10, depending on the instrument being traded. For customers in other parts of the world, the maximum leverage that can be used is unlimited.
• Research and Trading News
Trading news is provided via Dow Jones, which has its own market news channel, broadcast directly to Exness members’ portal. Exness also offers analytical reports on a range of financial instruments through Trading Central.
Bonuses / Promotions
The big promotion offered when doing this review and which is available until July 27, 2015 was the Infiniti Red Bull Racing competition. The grand prize for the winner of the best photo submitted was a visit to the Infiniti Red Bull Racing team in Abu Dhabi. The next prizes were replicas of the helmet of Daniel Ricciardo or Daniil Kvyat signed by the pilots.
EXNESS publishes up-to-date financial news and event announcements that take place around the world directly on its website for everyone to read. By clicking on any of the links in the “library”, anyone can access the numerous guides and textual explanations of general financial terms, as well as specific EXNESS topics.
EXNESS customers also have access to the most relevant economic news affecting the Forex market from Dow Jones News, the leading provider of information in the business and finance world. Dow Jones news coverage offers real-time streaming without delays. The news is available to customers who have opened business accounts with EXNESS. A trader’s calculator / currency converter is available, as well as updated analytical analysis of currency pairs.
• MetaTrader 4
MetaTrader 4 and the latest MetaTrader 5, with their improved terminal interface, improved performance and speed, are the preferred trading platforms at EXNESS as they work well with currency pairs, CFDs and futures.
MetaTrader 4 offers the greatest freedom to implement trading strategies and traders around the world have created a large number of specialized consultants (EA) for this terminal. Customers who prefer algorithmic Forex trading can easily adapt their consultants and use them effectively when trading on EXNESS servers.
EXNESS offers MetaTrader 4 for traditional desktop computers, as well as the most popular mobile platforms, Macs and Linux. EXNESS also offers the MT4 web platform. This platform, managed by MetaQuotes, is a web terminal that presents all the basic functions needed by traders, including real-time quotes, customizable price lists, various chart terms and basic analytical objects. It is offered at the request of many of its customers who were interested in using a traditional desktop platform.
• MetaTrader 5
MetaTrader 5 supports stocks and trading options. Two new types of pending orders have been added – Buy Stop Limit and Sell Stop Limit and additional conditions when trading on the stock exchange are now available – Fill or Kill (FOK) and Immediate or Kill (IOK).
The MT5 terminal supports level 2 quotes, which makes it possible to analyze the depth of the market and new programs appear automatically in MetaTrader 5. For whatever reason, the MT5 developers have removed the ability to protect Forex positions.
Traders can perform most functions on the Metatrader 4 and Metatrader5 platforms from their mobile devices. Mobile Forex trading offers traders the ability to complete trades from anywhere. The important thing is to have an Internet connection. As the number of mobile platforms for multiple devices grows, more and more traders are opting for mobile Forex trading, so this ability is important for the continued growth of this company.
Exness makes instant deposits and withdrawals with no commission charge, using an electronic payment system number that provides convenient control over the financing of your account. Payment options, including the possibility to use bank transfers or major credit cards, as well as the Neteller and Skrill electronic systems.
• Minimum deposit
In addition, Exness does not require a specific amount at the beginning, so you can start with just $ 1. However, check the payment methods, as some of them define a minimum transfer amount.
As already mentioned, Exness does not charge any fees for deposits or withdrawals. However, check before any transfer is made with customer service, if there is any applicable fee, due to your country of origin or perhaps by the payment provider itself.
Customer Support at Exness
Exness supports a wide variety of languages, including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean and Spanish Exness has a dual support rating of AA, as it supports live chat and email in multiple languages.
• Livechat support at Exness
Exness does not support LiveChat.
• Email support at Exness
We sent several emails to Exness and the response times in general were excellent. The fastest response from Exness was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with Exness, but it was our experience sending 10 emails at different times.
The team solved and answered our questions. Overall, very good email support from Exness.
• Telephone support at Exness
We called Exness and the call was answered very quickly. The call was answered in less than 5 minutes.
The Exness telephone support team was able to successfully answer our questions and problems over the phone. We tested Exness’s multilingual team by calling multiple languages. Exness made an effort to ensure that our questions were answered. Excellent general phone support from Exness.
Exness offers users the ability to trade on the globally recognized MetaTrader 4 and MetaTrader 5 mobile trading app for Android and iOS systems. They can be downloaded directly from the broker’s website, My.Exness Personal Area, Google PlayStore or Apple AppStore.
EXNESS HAS GOOD REPUTATION
BRKV – This 11-year-old broker is loved and appreciated by most traders. So far, their services have been proved to be very good. Whenever I ask my trader friends for opinions on Exness, here are the most common answers:
Let me explain why most traders think Exness is fair play. For the last 10 years, there have been many big events/news that made the currency price drop thousands of pips, causing high slippages, gaps… And of course, most traders lost. Only a few brokers compensate for their clients and of course Exness is included. They compensated more than $15 million when there was the CHF event on January 15th 2015. They also compensated a lots whenever there are problems with their system such as the DDOS incident in 2016.
Some traders told me that they put their trust in Exness forex broker because Exness is rich. That’s true. Exness always has around $200 million in segregated bank accounts. This amount of money is 4 times bigger than the total of their clients deposit amount and will be used to compensate customers when there are problems. Also, Exness has acquired CySEC and FCA regulations. This makes me confident to deposit tens of thousands of dollars to Exness without hesitation.