Exness Review- Updated 2024

Introduction

Exness is a global broker offering forex and CFD trading. Since starting in 2008, it has grown to serve over 800,000 clients across many countries.

Exness is popular with both beginners and experienced traders. It offers different account types, easy-to-use trading platforms, and strong customer support. This review will cover Exness’s key features, including regulations, trading platforms, account types, deposit and withdrawals, and more.

Overview of Exness

Exness is a well-known broker offering a range of services to traders. Important organizations oversee it. In the UK, this is the Financial Conduct Authority (FCA). In Cyprus, it is the Cyprus Securities and Exchange Commission (CySEC).

Exness provides many trading instruments, including over 115 currency pairs, popular cryptocurrencies like Bitcoin and Ethereum, precious metals, commodities, and indices such as CFDs.

Exness’s monthly trading volumes exceed $1 trillion, which shows how trusted it is by traders. The broker also offers instant deposits and withdrawals, making it convenient for traders to access their money quickly.

Exness Regulations and Safety

Regulatory compliance is a critical aspect of broker trustworthiness. Exness has ensured that it operates under several well-regarded regulatory bodies, providing a secure trading environment. The broker’s entities are regulated by:

Financial Conduct Authority (FCA), United Kingdom (Exness (UK) Ltd)
Cyprus Securities and Exchange Commission (CySEC), Cyprus (Exness (Cy) Ltd)
Financial Sector Conduct Authority (FSCA), South Africa
Financial Services Authority (FSA), Seychelles (Exness (SC) Ltd)
Central Bank of Curaçao and Sint Maarten (CBCS)
Financial Services Commission (FSC), British Virgin Islands

The broker also holds licenses from other Tier-2 and Tier-4 regulators in Mauritius and Seychelles. This multi-jurisdictional regulatory approach ensures that Exness adheres to stringent financial standards and protects client funds.

Exness keeps client funds separate from its own. It also offers negative balance protection. This means clients cannot lose more than they deposit.

Exness Pros

Offers multiple account types to fit different trading styles
Regulated by trusted bodies like FCA (UK) and CySEC (Cyprus).
No minimum deposit required for the standard account.
Instant deposit and withdrawals with many payment systems
MetaTrader 4 and 5 are available on desktop, mobile, and web.
Strong client protection with negative balance and segregated accounts

Exness Cons

Trading Platforms

Exness provides several trading platforms for its clients, giving them the tools they need to trade effectively:

MetaTrader 4 and MetaTrader 5 (MT4/MT5):

These popular trading platforms are available on desktop, mobile, and web. They provide strong tools for technical analysis and automated trading. Traders can also customize features to create their own strategies.

Exness Terminal:

This online platform is easy to use. It has helpful features like Trading Central integration and an economic calendar. It is a good choice for those who prefer trading in a web browser.

Exness Trade App:

Available for both Android and iOS devices, the Exness Trade app allows traders to manage their trades on the go. It includes charting tools, real-time quotes, and easy order management.

Account Types and Features

Exness offers several account types to suit different trader needs.

Standard Cent Account: This account is for beginners, letting them trade in small amounts (cent lots). It is a good choice for those who want to learn and practice trading without risking large amounts.
Standard Account: This account is more flexible, with no minimum deposit required. It provides better spreads than the Standard Cent account and offers access to over 120 tradable instruments.
Pro Account: This account type is for experienced traders. It has low spreads and no commission, and it supports both instant and market execution.
Zero Spread Account: This account offers zero spreads for most of the day but charges a small commission per trade. It is suitable for those who want to avoid high spread costs.
Exness also offers Islamic (Swap-free) accounts for traders who follow Sharia law.

Tradable Instruments

Traders with Exness have access to a wide range of instruments, including:

Forex: Over 95 currency pairs, including major, minor, and exotic pairs.
Cryptocurrencies: Bitcoin, Ethereum, and other popular cryptocurrencies.
Commodities: Gold, silver, oil, and more.
Indices: Popular indices like US30, UK100, and GER30.
Stocks CFDs: Shares of major companies like Apple and Microsoft.

While the product range is smaller than some other brokers, Exness offers the most popular instruments to meet the needs of most traders.

Commissions and Fees

Exness offers different pricing depending on the account type chosen:

Standard Accounts: Commission-free trading, with trading costs included in the spread. Spreads may vary based on market conditions.
Pro Account: Similar to the Standard Account but with lower spreads.
Zero Spread Account: Charges a commission of $0.05 per lot per side with zero spreads.
Raw Spread Account: Charges a fixed commission of $7 per round turn lot ($3.5 per side), with low spreads.

Deposit and Withdrawal Methods

Exness offers a variety of deposit and withdrawal options to provide traders with flexibility and convenience.

You can make deposits in several ways. You can use bank transfers, credit or debit cards, or electronic wallets like Skrill, Neteller, and Perfect Money. In addition to those, Exness also accept payments in cryptocurrencies.

Most deposits process instantly, and Exness does not charge deposit fees.

They also process withdrawals quickly, with most methods offering instant withdrawals.

Exness makes it easy for clients to access their funds. There are no withdrawal fees from Exness. However, payment providers may charge fees.

Customer Support

Exness offers comprehensive customer support services, available 24/7 via live chat, email, and phone. The support team speaks many languages, such as English, Chinese, and Arabic. This helps clients from all over the world. Exness also provides a detailed FAQ section, trading guides, and educational materials to help traders with common questions.

The broker’s focus on quick customer service is one of its main strengths. Traders can count on helpful support when they need it.

Research and Education

Exness offers educational content to help traders build their skills and knowledge. However, there is still room for improvement. The available educational resources include articles, tutorials, and videos on trading strategies, technical analysis, and market trends.

The broker provides webinars and interactive guides. However, the number and quality of these resources are not as strong as some industry leaders.

The Team Pro initiative is one of Exness’ educational programs. In this program, a group of expert traders shares their methods and strategies. Some of the content seems promotional.

The claims made by the educators can be misleading. For example, they call trading strategies “risk-free.” Despite these concerns, Team Pro offers value to traders who are seeking insights from experienced professionals.

Social Trading

Exness offers a social trading feature through its Social Standard and Social Pro accounts. This platform allows traders to copy the strategies of successful traders and is available via a dedicated mobile app. The social trading platform is a useful feature.

However, the minimum deposit of $500 to start copy trading may be a challenge for some traders. To become a strategy provider, the minimum deposit is $2,000.

The social trading interface shows important metrics like drawdown, monthly returns, and a Trading Reliability Indicator. This helps users assess the performance of strategy providers. However, additional filters and settings could improve the experience by making it easier to find the best strategies.

Unique Features

Exness has some unique features that make it stand out:

Instant Withdrawals: Most withdrawal methods are processed instantly, giving traders quick access to their funds.
Negative Balance Protection: Traders can't lose more than what they have deposited, protecting them from extreme losses.
Trading Central Integration: Trading Central tools are integrated into the Exness platforms, giving traders useful market insights.
Premier Program: Exness offers a loyalty program with three levels: Preferred, Elite, and Signature. Each level offers different perks like priority customer support and exclusive events. However, high deposit and trading volume requirements may make it harder to access for some.

Account Opening Process

Opening an account with Exness is easy. Traders need to register by providing personal information, verify their identity with documents, and choose their account type. Once verified, they can deposit funds and start trading. The process usually takes 1 to 2 days.

Is Exness Safe?

With a Trust Score of 81 out of 99, Exness is a trusted broker. It is regulated by top authorities like the FCA and CySEC, and offers strong client fund protection measures, including segregated accounts and negative balance protection.

What We Like Most About Exness

Exness offers several standout features that make it a preferred choice for traders. First and foremost, we appreciate the variety of account types available. Exness offers options for everyone. If you are new to the Standard Account, you can start there.

Consider the Pro or Zero Spread accounts if you want better trading options. The broker’s emphasis on flexibility means you can start small or trade large, depending on your preference.

Another aspect we like is the focus on customer support. Exness provides live chat support, which is available 24 hours a day, ensuring that traders always have access to help when they need it. The broker also supports multiple languages, making it accessible to traders from various regions.

We also appreciate the instant deposit and withdrawal feature. It gives traders faster access to their funds than other brokers. This efficiency can make a big difference, especially during market events where quick action is necessary.

Lastly, the integration of popular trading platforms like MetaTrader 4 and MetaTrader 5 is a huge plus. These platforms are widely used in the industry. They provide many tools, such as advanced technical analysis, real-time charts, and automated trading options. Exness has made these platforms available on desktop, mobile, and web, making trading convenient and accessible.

Final Thoughts

Exness is a well-regulated broker that offers a good range of services for both beginner and experienced traders. With multiple account types, easy-to-use trading platforms, and strong customer support, Exness provides a solid trading experience.

The broker focuses on safety, quick deposits and withdrawals, and low costs. This makes it a good choice for many traders. Exness has fewer tradable instruments than some brokers. However, it still offers enough variety for most traders.

The educational resources could improve, but the easy-to-use features and strong support make Exness a good choice. Traders looking for a reliable broker should consider it