Many traders use Exness since it is a reliable and respected business. Numerous recommendations highlight this broker’s minimal spreads and enormous leverage, making them a go-to for sniper traders. In addition, Exness has a knowledgeable support team that can provide concise solutions to any issues that may arise. If you’re like most traders, you’ve realized after some time on the market that your broker’s spread isn’t exactly peanuts, and Exness is your solution.
List of contents
Exness: Overview
Exness was established in 2008 and now has over 145,000 users worldwide. The Financial Conduct Authority (FCA), the Financial Services Commission (FSC), and the Cyprus Securities and Exchange Commission (CySEC) all regulate Exness, an online broker. Additional security features include customer capital segregation and protection against negative balances.
With Exness, you may begin trading online with just $1. Forex, commodities, cryptocurrencies, contracts for difference, and other financial instruments are just some of the many that the best FX brokers provide. The cost is relatively inexpensive. Accounts designated as “Professional” are exempt from spreads. With Exness, you can access all the tools and charts you need to trade on the most popular platforms, including MT4 and MT5. Desktop, web trading, and mobile app options are available.
Outside of Seychelles, Exness is a wholly owned subsidiary of Nymstar, expanding its operations independently. In December of this year, 72,721 investors from all over the world were trading this instrument, with a monthly volume of $325,8k. Exness is dedicated to being completely transparent, and as such, it releases annual financial reports that the Big Four accounting firm Deloitte has audited.
The broker’s educational offerings, economic calendar, and technical analysis tools are rudimentary. However, the support staff is courteous and helpful, and there are several methods to get in touch with them. In addition, whenever you need it, our multilingual support staff is here to help.
In conclusion, Exness is one of the top brokers offering access to the Forex market due to its low commission rates, many trading tools (including the MT4 and MT5 platforms) and 107 available currency pairs. Furthermore, it advertises on its website that users may get started with just $1 and access leverage of up to 1:2000.
License
According to research conducted by Finxpd, Exness holds licenses from multiple regulatory authorities.
- Financial Services Authority (FSA): Exness (SC) Ltd is a Securities Deauthorizedrized and regulated by the Seychelles Financial Services Authority (FSA) with license number SD025.
- Central Bank of Curaçao and Sint Maarten (CBCS): Exness B.V. is a Securities Intermedauthorizedrized and regulated by the Central Bank of Curaçao and Sint Maarten with license number 0003LSI.
- Financial Services Commission (FSC): Exness (VG) Ltauthorizedrized by the Financial Services Commission (FSC) in BVI with registration number 2032226 and investment business licence number SIBA/L/20/1133.
- Mauritius Financial Services Commission (FSC): Exness (MU) Ltd is authorized by the Financial Services Commission (FSC) in Mauritius with registration number 176967 and Investment Dealer (Full Service Dealer, Excluding Underwriting) licence number GB20025294.
- Financial Sector Conduct Authority (FSCA): Exness ZA (PTY) Ltd is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa as a Financial Service Provider (FSP) with FSP number 51024.
- Cyprus Securities and Exchange Commission (CySEC): Exness (Cy) Ltd is a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12.
- Financial Conduct Authority (FCA): Exness (UK) Ltd is an Investment Firm authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom under the Financial Services Register number 730729.
Since Exness is subject to oversight from several organizations, including those responsible for overseeing Market Makers, Financial Products, and Trading on the Derivatives Market, you feel comfortable doing business with them.
Account Types of Exness
Exness has divided accounts into two categories, which are
Standard accounts
The website claims it’s a commission-free trading account with many valuable features.
Trading novices should start with a standard account. Market execution, fixed spreads, and no requotes are some of the features that make our most popular accounts so appealing to traders, including;
- Standard
2. Standard Cent
Professional accounts
You can select between a “raw spread model,” “zero spread,” and “zero commission,” according to the website. This account is geared toward seasoned traders, scalpers, and algotraders. Experienced traders would benefit most from these accounts. They can be purchased with or without spread. Scalpers, day traders, and algotraders will appreciate the execution options available in our professional accounts, including;
- Raw Spread
2. Zero
3. Pro
As we can see, Exness accommodates a wide variety of investors by offering several distinct account options.
Deposit & Withdrawal
When depositing and withdrawing funds, Exness is a Forex broker that has you covered in every way. Investors’ most common deposit methods include credit cards, banking, and electronic wallets (including cryptocurrency wallets).
Products in Exness
The foreign currency market is one sector that Exness focuses on. To trade, you can explore the following instruments:
- Forex
- Metals
- Cryptocurrencies
- Energies
- Stocks
- Indices
We can examine that Exness is not only a Forex broker but also provides services for trading various other assets.
Trading Platform
In addition to its trading platform, which is compatible with iOS, Android, and PC, Exness also provides a complete MT4/MT5 software trading platform, which comprises a desktop client, a web trader, and a mobile version.
Fees
Opening an account with Exness costs free, and the broker requires a minimum deposit of just $10 (while some require as much as $200). However, even though there are no transaction costs associated with deposits or withdrawals, you should be aware that miners’ fees may be deducted from cryptocurrency payments, Perfect Money, Skrill, and USDT deposits.
Promotions
There is no promotion right now for opening accounts with Exness.
Customer Service
- Help Center
- Live chat in 15 languages 24/7.
- International support team by phone and e-mail
Pros
- Excellent deposit and withdrawal rates; put in $100 and get $100 back when you cash out.
- Highly tight spreads, even for “zero” accounts.
- Rapid Deposit/Withdrawal Service
- Provides round-the-clock support via chat agents, an efficient phone service, and a live agent at all times
- Diverse Financial Instruments
Cons
- Lack of academic education
- Requotes are repeated occurrences during times of significant reporting.
- Limited Market Analysis
- It’s not available in Europe at this time
If you’re a trader, whether you’re just starting or have years of experience, Exness is a fantastic broker to work with. For the reasons that it offers helpful customer service, a free demo account, low-cost starter accounts, and favourable trading conditions for advanced users. Because of the inherent risk in trading, you should carefully weigh the service’s benefits against the potential downsides before making a final decision.
Related Articles:
- Awonar: Another Outstanding CFD Trading Platform
- 5 Best Online Brokers of June 2022 – Most Recommended
- Fidelity Investment Review: The Best of Overall
- Top 5 Popular CFD Trading Platforms in 2022
- IUX Markets: A Reliable, Low-Priced Brokers
Read more: Popular Low Spread Brokers