Exness is one of the most well-known forex brokers globally, offering a wide range of trading instruments and services to both beginner and advanced traders. Established in 2008, Exness has grown rapidly, thanks to its competitive spreads, fast order execution, and user-friendly trading platforms. Below is a comprehensive review of Exness, covering its key features, pros and cons, regulatory status, and more.
Overview
- Founded: 2008
- Headquarters: Cyprus, with offices in the UK, Seychelles, and South Africa
- Regulation: CySEC (Cyprus), FCA (UK), FSA (Seychelles), FSCA (South Africa)
- Minimum Deposit: $10 (Standard Account)
- Leverage: Up to 1:2000 (Retail Clients); Up to Unlimited Leverage in Some Regions
- Trading Platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), Exness WebTrader, Mobile Trading Apps
- Instruments: Forex, Cryptocurrencies, Commodities, Indices, Stocks
- Spread: From 0.0 pips on Raw Spread accounts
- Customer Support: 24/7 Multilingual Support via Live Chat, Email, and Phone
Regulation and Security
Exness is regulated by multiple top-tier financial authorities, ensuring a high level of security and transparency for its clients:
- CySEC: Cyprus Securities and Exchange Commission (License No. 178/12)
- FCA: Financial Conduct Authority, UK (License No. 730729)
- FSA: Financial Services Authority of Seychelles (License No. SD025)
- FSCA: Financial Sector Conduct Authority, South Africa (License No. 51024)
These regulatory bodies impose strict compliance standards, ensuring that Exness operates with transparency and accountability. Client funds are kept in segregated accounts, and Exness offers negative balance protection, ensuring that traders cannot lose more than their account balance.
Account Types
Exness offers multiple account types tailored to suit different trading needs and styles:
- Standard Account
- Minimum Deposit: $10
- Spreads: From 0.3 pips
- Leverage: Up to 1:2000
- Commission: No commission
- Best For: Beginners and casual traders
- Raw Spread Account
- Minimum Deposit: $500
- Spreads: From 0.0 pips
- Leverage: Up to 1:2000
- Commission: $3.5 per lot per side
- Best For: Scalpers and high-frequency traders
- Zero Account
- Minimum Deposit: $500
- Spreads: 0.0 pips for 95% of the trading day
- Leverage: Up to 1:2000
- Commission: From $3.5 per lot
- Best For: Professional traders
- Pro Account
- Minimum Deposit: $500
- Spreads: From 0.1 pips
- Leverage: Up to 1:2000
- Commission: No commission
- Best For: Advanced traders who need flexible trading conditions
Trading Platforms
Exness provides access to industry-standard trading platforms, as well as its own proprietary WebTrader platform:
- MetaTrader 4 (MT4)
MT4 remains one of the most popular platforms globally, offering robust charting tools, technical indicators, and algorithmic trading options via Expert Advisors (EAs). - MetaTrader 5 (MT5)
An upgrade from MT4, MT5 offers additional features such as more timeframes, order types, and better functionality for multi-asset trading, including forex, commodities, and stocks. - Exness WebTrader
For those who prefer browser-based trading, Exness WebTrader provides a fast and intuitive interface without needing to download software. It’s designed for ease of use and accessibility on any device. - Mobile Apps
Exness offers mobile apps for both MT4 and MT5, allowing traders to manage their accounts and trade on the go. The mobile apps are available for both Android and iOS devices.
Spreads, Commissions, and Fees
Exness is known for offering competitive spreads, especially for its Raw Spread and Zero accounts. Here’s a breakdown of the spreads and commissions:
- Standard Account: Spreads from 0.3 pips, no commission.
- Raw Spread Account: Spreads from 0.0 pips, commission of $3.5 per lot per side.
- Zero Account: Spreads from 0.0 pips for 95% of the trading day, commission starting at $3.5 per lot.
- Pro Account: Spreads from 0.1 pips, no commission.
There are no hidden fees with Exness, and the broker prides itself on transparent pricing. Additionally, there are no deposit or withdrawal fees, and overnight swap rates are competitive compared to other brokers.
Leverage
Exness is well-known for offering some of the highest leverage in the industry. Retail clients can enjoy leverage up to 1:2000, and in some regions, Exness offers unlimited leverage depending on the account type and regulatory restrictions.
Important: High leverage can significantly increase both potential gains and losses. It is recommended to use leverage cautiously, especially for beginner traders.
Deposit and Withdrawal Methods
One of Exness’s standout features is its instant deposit and withdrawal options, which are available 24/7. There are no fees for deposits or withdrawals, and the broker supports a wide range of payment methods:
- Bank Transfer
- Credit/Debit Cards (Visa, MasterCard)
- E-wallets: Skrill, Neteller
- Cryptocurrencies: Bitcoin, Ethereum
Withdrawal requests are processed instantly in most cases, making it one of the most efficient brokers when it comes to cashing out profits.
Instruments and Assets
Exness offers a broad range of financial instruments, including:
- Forex: 100+ currency pairs, including major, minor, and exotic pairs.
- Cryptocurrencies: Bitcoin, Ethereum, Litecoin, and more.
- Commodities: Gold, silver, oil, and other energy products.
- Indices: Major global indices like the S&P 500, NASDAQ, and FTSE 100.
- Stocks: Access to a wide range of international stocks through CFDs.
With such a wide variety of markets to trade, Exness caters to all types of traders, whether you’re focused on forex, commodities, or crypto.
Customer Support
Exness offers 24/7 multilingual customer support, which is available via:
- Live Chat (available in multiple languages)
- Email: support@exness.com
- Phone: Local and international numbers are available based on your region.
The customer support team is highly responsive, and most issues are resolved within minutes. Exness also provides extensive educational resources, market analysis, and webinars to help traders improve their skills.
Pros & Cons of Exness
Pros:
- Regulated by multiple authorities: CySEC, FCA, FSA, FSCA, offering strong security for traders.
- Low minimum deposit: Only $10 for Standard accounts.
- High leverage: Up to 1:2000, with unlimited leverage in certain regions.
- Fast and free deposits/withdrawals: Instant processing with no fees.
- Competitive spreads: Especially on Raw Spread and Zero accounts.
- Wide range of trading instruments: Forex, cryptocurrencies, commodities, stocks, and indices.
- 24/7 customer support: Responsive and available in multiple languages.
- MetaTrader platforms: MT4 and MT5 supported, along with a proprietary WebTrader.
Cons:
- Limited educational resources: Compared to some competitors.
- High leverage increases risk: Not suitable for risk-averse traders.
- Limited account types for beginners: Advanced account types require higher deposits.
Who Should Trade with Exness?
Exness is well-suited for a wide range of traders, from beginners to experienced professionals:
- Beginners: With its low minimum deposit, competitive spreads, and user-friendly platforms, Exness is a great option for those just starting in forex trading.
- Scalpers and Day Traders: The fast execution, low spreads on Raw and Zero accounts, and high leverage make Exness ideal for traders using short-term strategies.
- Advanced Traders: The Pro and Raw Spread accounts offer tight spreads and flexible trading conditions, appealing to experienced traders.
Conclusion
Exness has positioned itself as a reliable and trustworthy broker in the forex industry for 2024, thanks to its strong regulation, competitive trading conditions, and excellent customer support. Whether you’re a beginner or an advanced trader, Exness offers a comprehensive trading environment with access to a wide range of markets, flexible leverage, and multiple account types tailored to different needs.
Verdict: A top choice for both beginner and advanced forex traders looking for a secure and feature-rich trading platform.
