Exness Review 2023: Pros and Cons of Trading with Exness Review 

What is Exness?

Since 2008, Exness Trading Company has been operating in the Forex market and is fully compliant with local laws in all the 130+ countries where it operates. The Exness group of companies holds licenses issued by several regulatory authorities, including the FCA (UK), CySEC (Cyprus), FSA (Seychelles), CBCS (Curacao and Saint Martin), FSC (British Virgin Islands), FSC (Mauritius), FSCA (South Africa), and CMA (Kenya). As a member of the Financial Commission, Exness provides insurance coverage of up to EUR 20,000 per client in case of force majeure. Additionally, the broker is regulated by the licenses of CySEC, FCA, and FSA. Exness is a leading Forex company with a monthly trading turnover of $325.8 billion USD.

What Are the Pros and Cons of Trading with Exness?

Exness Pros 

Exness Cons

  • Zero spread accounts
  • No Bonuses/Promos
  • MetaTrader Suite Available
  • No USA Clients Permitted
  • Swap-Free/Islamic Account Provided
  • The Exness training resource section is currently only available in English, which may limit accessibility for non-English speakers. It could benefit from being offered in multiple languages to cater to a wider audience
  • High Maximum Leverage
  • MTS does not have the Standard Cent Account.
  • Free VPS hosting; to qualify, you need to trade for a minimum of 14 days and lifetime deposits of $500
  • The selection of financial instruments is limited
  • Withdrawals are available 24/7 and processed instantly
  • Professional accounts require a substantial minimum deposit
  • Segregated accounts

 

Exness Reviews Account Opening

Can You Open an Account Exness

The conditions to open an account with Exness necessitate traders to fulfill specific requirements, such as attaining a minimum age of 18 years, not being a US citizen, and having no bankruptcy history. Additionally, they must finish an Economic Profile and present Proof of Identity (POI) and Proof of Residence (POR) documents when applying for an account. Exness verifies these documents to confirm that all operations conducted on the account belong to the legitimate account holder.

If you have trouble creating an account on Exness. Don't worry, we will help you. Please follow the steps below in the correct order to ensure successful registration:

Step 1: Create an account, open Exness official website www.exness-trade.pro, and select Open Account in the top right corner.

Step 2: Fill out your information completely on the form: Selecting the country of residence is mandatory. Add an email address and set a password

Step 3: Click ‘Continue’ to proceed. After logging into the homepage, the initial step is to choose a trading account. If you are new to trading, you can select a demo trading account for the MT5 trading terminal. Conversely, if you are an experienced trader, you can directly opt for a live trading account.

Step 4: After activating the account, the user can commence trading by depositing funds

How Many Account Types Does Exness Offer?

Exness provides a diverse range of account types that cater to different trading styles. The accounts are classified into two primary categories: Standard and Professional.

📍 Standard Accounts

  • Standard
  • Standard Cent

📍 Professional Accounts

Pro

  • Zero
  • Raw Spread

Details of Exness accounts are provided below:

Exness Standard Account:

Exness Standard account is suitable for both novice and experienced traders, making it an ideal choice for everyone. It is worth noting that about 80% of traders in Exness opt for this account category.

  • The one-time deposit is $1.
  • The minimum trading volume is $0.01.
  • Major currency pairs have a spread of less than one pip, making it extremely low.
  • There are no commissions for Standard accounts.
  • A Standard account offers a great amount of experience in trading, including risk control.

Exness Standard Cent Account:

The Standard Cent Account is an excellent choice for beginners as it provides a real trading experience. This account allows traders to experience price volatility, spread, and slippage, giving them a comprehensive understanding of Forex risks.

  • As mentioned before, the Standard Cent Account is ideal for novice traders, as it only requires a minimum deposit of 1 USD to open. This account enables traders to gain practical knowledge and experience in Forex trading.
  • In comparison to other trading brokers, the broker's lowest fee is deemed the most favorable.
  • This account's high leverage empowers traders to hold their positions for a more extended period while keeping a low margin.

Exness Pro Account:

Exness Pro Account is regarded as the best choice for trading experts and professionals who take the Forex Market seriously, according to reviews. The broker's website is highly flexible, reasonable, and user-friendly, making it a favored platform for traders.

Traders can execute millions of trades without any commission fees, and the Exness Pro Account has a significantly lower spread compared to other forex brokers in the market. Low spreads are favored by experienced traders when selecting a forex broker. Moreover, with payouts as low as 0.1 pips, this account is in high demand.

  • In addition to the account's near-zero margin and unlimited leverage, traders can also enjoy the opportunity to trade with 120 different currency pairs.
  • A large range of instruments.
  • Traders have a wide range of instruments to select from for trading, such as gold, silver, Bitcoin, Litecoin, and many others.
  • There are no commission charges for trading cryptocurrencies.

Exness Zero Account:

The Exness Zero or Electronic Communication Network (ECN) account is tailored for experienced traders, professionals, and investors. It is a zero-type account, which means that there are no markups on spreads, and this can provide significant benefits for those in the investing business.

  • The Exness Zero account offers an incredibly low spread, almost zero, for currency pairs like EUR/USD, USD/JPY, and CAD/USD. This zero-spread condition is highly attractive to brokers looking to attract traders. The EUR/USD pair is a popular trading option, supported by most crypto exchanges, including Exness.
  • Exness presently provides four distinct liquidity sources, resulting in improved and more reliable ECN quotes for customers with a Zero account.
  • Exness makes depositing funds easily, unlike other brokers that require traders to deposit large amounts to start trading. With Exness, traders can begin trading with just a $300 deposit, making it an attractive option for those with limited capital. The Zero account also offers the opportunity to trade with lower costs.

Exness Raw Spread Account:

The Raw Spread account is a relatively new account type that was introduced by Exness in late 2019. While this account type has many similarities to the Exness Zero account, the spread is not as low. Here are the account details for the Raw Spread account:

  • A minimum deposit of $500 is required.
  • The MT5 platform has a maximum leverage limit of 1:2000, whereas, on the MT4 platform, traders can access unlimited leverage.
  • Lot commission: $7.
  • The spreads at Exness start from as low as 0.1 pip, but they vary depending on the chosen account type and instrument. Since the spreads are floating, the figures shown in the table are the average spreads from the previous trading day. For the current spreads, it is recommended to refer to the trading platform. The most competitive spreads are offered on the Zero account, where they remain fixed at 0.0 pips for 95% of the trading day.

Exness Bonus

Exness in 2023 still does not provide a sign-up bonus or any bonus programs as they are not in line with the company's fundamental values. Nonetheless, Exness may offer rewards on specific occasions depending on the terms and conditions of the campaign.

What Is the Leverage Offered by Exness?

Exness stands out from other brokerage firms by providing the highest leverage level of 1:2000 on all accounts. Additionally, they offer a calculator to determine the maximum leverage and margin requirements based on a trader's current account equity. With these leveraged products, Exness enables traders to potentially double their invested amount and increase their profits. However, it is important to note that leverage can also lead to potential losses, and new investors should be aware of the risks associated with leverage trading. Therefore, a warning sign is given to remind traders that leverage trading carries a risk warning.

Exness review Deposit and withdrawal

Regarding deposit and withdrawal options, it is worth highlighting that investor funds are processed instantly, ensuring hassle-free money transfers. This gives investors full autonomy over their funds around the clock, enabling them to manage their finances effectively and flexibly.

  • Exness is the sole platform that provides metal currency accounts.
  • Visa and Mastercard are accepted by almost all entities. While deposits are processed immediately, withdrawals usually take 3-5 business days if a bank card is utilized.
  • Exness provides various local payment solutions in addition to crypto solutions like BTC and USDT.
  • Exness accepts various deposit and withdrawal methods, including EPS, cryptocurrency, bank cards, local payment systems, and internal transfers.
  • The commission for deposits and withdrawals depends on the payment methods used.

Exness Review Commissions & Fees

👉Exness charges fees for commission based on the type of account.

👉The Standard and Pro accounts do not have any trading commissions, while the Raw account incurs commission fees up to $3.5 (approx. 56 ZAR) and the Zero Account has commission fees starting from $0.1 (approx. 1.6 ZAR). The Pro account does not have any commission fees.

👉The minimum deposit for the Standard Account varies depending on the payment system used. However, for the Raw, Zero, and Pro accounts, the minimum deposit is $500.

👉Exness imposes a rollover or overnight fee on positions held for more than a day. The fee differs for each instrument and is either charged as a fee or refunded.

👉While Exness does not charge any fees for deposits or withdrawals, traders must verify with their selected payment provider before making transfers as the payment provider may impose fees that the trader is responsible for.

Exness Review Market instruments

Exness offers a diverse selection of trading instruments, encompassing forex and CFDs on commodities, stocks, indices, and cryptocurrencies.

At Exness, traders can access financial derivative products called CFDs (Contracts for Differences) that enable them to speculate on various markets without owning the underlying assets. The following assets are among the tradable instruments available:

  • Forex
  • Metals
  • Cryptocurrencies
  • Energies
  • Stocks
  • Indices

Trading instruments also have their own:

  • Contract specifications
  • Trading hours
  • Symbol groups
  • Suffixes

Exness Trading Platforms

The trading platforms offered by Exness Forex brokers are highly specialized and of great interest to any investor. This Exness review will examine the available trading platforms that traders can select from.

MetaTrader 4

MT4 is a renowned and reliable application with global popularity due to its versatility. 

The following are the advantages of utilizing this platform:

  • MetaQuotes
  • MQL4 enables anyone to create their own trading robots and scripts, and importing Expert Advisors is a quick process.
  • Analytical Tools
  • The platform includes a comprehensive range of analytical tools, featuring 30 pre-installed technical indicators and 23 analytical objects.
  • Security
  • For optimal security, the trading platform and server communications are encrypted using 128-bit keys.

MetaTrader 5

With its improved interface and additional features, MT5 is an advanced version of MT4 that offers traders a superior user experience.

  • Advanced platform
  • MQL5 eliminates the limitations of MQL4, enabling the development of more advanced trading robots and scripts.
  • Analytical Tools
  • The analytical tools in MT5 include 38 built-in indicators, 22 analytical tools, and 46 graphical objects.
  • Various Trading Options
  • Traders have more options to choose from when it comes to trading, as MT5 offers eight different types of pending orders, including two exclusive to the platform.
  • Calendar
  • The platform is integrated with an economic calendar that displays news and projections.

Exness Safety and Security

Exness prioritizes the security of its traders' accounts and has implemented a 2-factor authentication protocol to protect login details. The broker has developed strong security systems and methods to verify user authentication and ensure that only the account owner carries out trading operations.

To guarantee the safety of client funds, Exness keeps them separate from the company's funds, minimizing the risk of loss. User data is encrypted when transmitted to the database and protected using advanced cybersecurity protocols to maintain account confidentiality.

Exness Awards

Exness received the awards for Most Transparent FX Broker 2019 from World Finance and Global FX Broker of the Year 2019 from The European.

  • Exness was awarded the Best Customer Support Award at the Financial Markets Expo in Cairo in 2021.
  •  At the Financial Markets Expo Cairo 2021, Exness received the Premium Loyalty Program Award.
  • “Most Innovative Broker” was awarded to Exness at the Dubai Expo 2021.
  • Exness was awarded the title of Most People-Centric Broker at Traders Summit 2023.
  • Exness was awarded Global Broker of the Year at the Traders Summit 2023.

Exness Review Research

Exness offers a variety of research tools, including:

  • Exness offers a variety of research tools, including calculators to help traders determine the basics of their positions, such as margin, point profit, swap long and short, among others.
  • A currency converter.
  • VPS Hosting.
  • A Market Analysis Calendar.
  • WebTV, and.
  • Statistics such as Tick History

Exness Customer support

Exness provides top-notch customer support to its clients through a team of proficient professionals capable of resolving trading-related issues efficiently. Customers can utilize various communication channels like phone, live chat, call-back service, or email to contact the customer service team when they encounter any problems. While the website content is available in 14 different languages, 24/7 customer service is only offered in English, Thai, and Chines

Exness Education

👉Exness provides a broad spectrum of educational materials, encompassing the Exness Academy, webinars, and a glossary.

The Exness Academy furnishes knowledge on subjects such as:

  • Essentials – focuses on educating beginners by aiding them to comprehend the fundamentals of trading.
  • Development – can assist traders in enhancing their abilities by instructing them on risk management and facilitating the study of other traders.
  • The final stage is referred to as Breakthrough, where traders can apply their knowledge by initiating market analysis.

👉Exness offers webinars that are typically scheduled in advance, but currently, there are no upcoming events planned.

👉The Exness glossary encompasses trading terminology from A to Z, catering not only to novice traders but also to experienced traders who require a reference point.

Exness review FAQ

Is Exness Regulated in South Africa?

Exness is registered with the FSCA in South Africa under registration number 2020/234138/07 and holds the FSP number 51024.

Does Exness offer a demo account?

This broker offers a demo account that doesn't have an expiration date but may be deleted if there's no activity for 21 consecutive days

What is the minimum deposit for an Exness account?

For South African traders, the minimum deposit to start trading with Exness is $10 or ZAR 160.

Does Exness have Volatility 75?

Regrettably, Exness doesn't provide trading for the Vol 75 Index.

bitcoin
Bitcoin (BTC) $ 69,737.68
ethereum
Ethereum (ETH) $ 3,504.64
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 604.74
xrp
XRP (XRP) $ 0.613533
solana
Solana (SOL) $ 170.83
litecoin
Litecoin (LTC) $ 95.97
okb
OKB (OKB) $ 57.04
tron
TRON (TRX) $ 0.118616
matic-network
Polygon (MATIC) $ 0.881601
cardano
Cardano (ADA) $ 0.580734