EXNESS review summary
Exness is a well-regarded forex broker that offers traders access to a variety of markets and assets. Founded in 2008 Exness has since become a global leader in the forex industry providing cutting-edge technology, secure trading platforms and a range of account options that cater to all types of traders.
One of the key selling points of Exness is its regulation. The company is authorized and regulated by:
1. The Financial Conduct Authority (FCA) in the UK,
2. The Cyprus Securities and Exchange Commission (CySEC),
3. The Financial Services Authority (FSA) in the Seychelles,
4. Capital Martkets Authority (CMA) in Kenya,
5. The Financial Sector Conduct Authority (FSCA) in South Africa,
6. Central Bank of Curaçao and Sint Maarten (CBCS),
7. The Financial Services Commission (FSC) in BVI and
8. The Financial Services Commission (FSC) in Mauritius.
This means that Exness is heavily regulated and subject to strict regulatory requirements and oversight ensuring that your trading experience is safe, secure and transparent.
In addition to its solid regulatory framework Exness offers a wide range of trading assets to choose from including forex, commodities, indices, stocks and cryptocurrencies. This diversity of assets provides traders with ample opportunities to profit from market movements, no matter what their trading style or preferences.
Exness offers 5 account types – Standard and Standard Cent for beginners as well as Pro, Zero and Raw Spread types for Professional traders. Each account has its own unique features and benefits, allowing you to find the one that best suits your individual trading needs.
One of the most trusted and heavily regulated broker in the industry. Great for beginners as well as seasoned Pros
Overall, Exness is a very reliable and trustworthy forex broker that offers traders access to a wide range of markets, solid regulation and a variety of account options. Whether you are a seasoned trader or just starting out, Exness can facilitate any of your needs. So, if you’re looking for a sound and reputable broker to open a trading account with – Exness is definitely worth considering.
EXNESS pros and cons
Exness is a highly reputable online forex broker that offers its services to clients across the globe. With a user-friendly platform, low minimum deposit requirements and a wide range of account types Exness is a popular choice for traders of all experience levels. While there are some cons, the pros of Exness far outweigh any drawbacks.
Pros
- Heavily regulated
- 24h support
- Possibility for scalping and hedging
Cons
- Not available in EU for retail clients
EXNESS main features and highlights
Regulation
FCA, CySEC, FSA, CMA, FSCA, CBCS, FSC, FSC
Headquarters
Limassol, Cyprus
Year founded
2008
Num of instruments offered
200+
Trading fees category
Low-Average
Deposit/Withdrawal options
Bank card/wire transfer/Skrill/Neteller/Crypto
Deposit/Withdrawal fee
No*
Min deposit
10$
Inactivity fee
No
Max leverage offered
1:Unlimited**
Trading platforms available
MT4/MT5/Proprietary
Islamic account
YES
Customer support available in
15 languages
Support 24h availability
Yes
Bonus
No
Number of clients
414k active clients
Mobile trading available
Yes
FEE
EXNESS fees snapshot
Assets
Fee level
Fee terms
Forex
Average
From 0 pip and from 3.5$ per lot/side
Stocks
Low
From 0.1 pips
Indices
Low
From 0 pip & from 0.5$ per lot/side
Metal
Low
From 0 pips & from 3.5$ per side
Energies
Low
From 2.8 pips & From 3.5$ per lot/side
Crypto
Average
From 0 pips & From 0.5$ per lot/side
Spreads and commissions above are not updated on a daily basis and they will depend on the account type you are using. For live up-to-date figures please refer to the trading terminal of a live account which can be acquired after completing the registration process with Exness.
*Only network fee when using BTC
** For accounts with total equity no more than 1000$
types of accounts
Standard Accounts
Exness offers two types of Standard accounts, namely Standard and Standard Cent. These accounts are designed for new traders who want to test their trading strategies with a lower risk profile.
The Standard account is a popular account type suited for new traders and those with entry-level experience. It offers commission-free trading with low spreads, starting from 0.3 pips. The minimum initial deposit for the Standard account depends on the payment system (approx 10$). This account type provides traders with up to 36 trading instruments to choose from, including Forex and Metals.
The Standard Cent account is another account type more suitable for newbie traders as it allows them to trade smaller volumes with much smaller trading units (cent lots). It is the only account type that uses cent lots. This account type offers the smallest minimum trading volumes available, ideal for testing your trading strategies. The minimum initial deposit for the Standard Cent account depends on the payment system (approx 10$). This account type offers traders up to 36 trading instruments to choose from.
Professional Accounts
Exness also offers three types of Professional accounts, namely Pro, Zero and Raw Spread. These accounts are designed for professional traders who take advantage of more favorable trading fees and conditions due to their large trading volumes.
The Pro account is an account type suited to more experienced and professional traders. It is ideal for any trading style, from day trading to automated trading strategies and everything in between. The minimum initial deposit for the Pro account is USD 200. This account type offers commission-free trading with low spreads (starting from 0.1 pips).
The Zero account is an account type suited to high-volume traders who want to trade with zero spreads. Instead of spreads, this account type charges a commission per trade. The minimum initial deposit for the Zero account is USD 200. This account type offers commission-based trading with no spreads.
The Raw Spread account is an account type designed for high-volume traders who want to trade with raw spreads. This account type charges a commission per trade. The minimum initial deposit for the Raw Spread account is USD 200. This account type offers commission-based trading with raw spreads starting from 0.0 pips. This account type is very similar to the Zero account. The main difference between the two is the commission that you need to pay per trade that differs from instrument to instrument. Traders have access to a wide range of trading instruments including Forex, Metals, Cryptocurrencies, Energies, Indices and Stocks.
FAQ
How do I complete the account verification process on Exness?
To complete the account verification process, follow the below steps: 1. Verify your email address and phone number. 2. Complete the Economic Profile form. 3. Submit Proof of Identity (POI). 4. Submit Proof of Residence (POR).
How do I start trading on Exness?
After opening your Exness account, completing the account verification process, making your first deposit and selecting a trading terminal, you can start trading. Follow the guide on their website to learn more.
What documents are acceptable for POI (proof of ID) and POR (proof of residence) verification on Exness?
Examples of acceptable documents for POI are International passport, Identification card and Driver’s license. Examples of acceptable documents for POR are Utility bill (electricity/gas/water/Internet), Certificate of residence, Tax bill and a Bank account statement.
What is the verification time limit for Exness accounts?
From the time of the first deposit, you have 30 days to complete account verification, which includes verification of identity, residence and economic profile.
What are the limitations of an unverified Exness account?
An unverified Exness account has limitations, including a maximum deposit of up to USD 2,000 (per Personal Area). Also you will have 30 days to verify your account. If you fail to do so your account will be disabled until complete verification. With just POI (proof of ID) completed limits are 50k (per Personal Area) with the ability to trade.