Exness Review

Trust Score
4.0

Min Deposit

$3


Leverage

200:1


Deposit Bonus

Promotions

Regulation

  • FCA

  • CySEC

Platform

  • MT4

  • MT5

  • MT4 Web

Exness was founded in 2008, and is regulated by CySEC in Cyprus (number 178/12) as well as the FCA under the Financial Services Register (730729) followed by six EEA registrations in various countries.

Exness keeps their trading accounts simple providing just a Mini and Classic trading account. Though both account’s leverage caps at 200:1, Exness makes it easy to start trading with mini accounts requiring only a $1 minimum deposit making it a popular choice for the new trader. They also offer technical support in 14 different languages, with the website localized in 22 different languages.

Exness has collected quite a few Best Broker awards over the years, as well as Best Educational Broker and Best Trade Conditions.

Introduction

Exness began its operations in 2008, out of St. Petersburg in Russia, aiming to penetrate the financial markets with its excellent services.

The Group has managed to acquire several regulations throughout its growth, which have enabled it to enter markets that are less accessible to other Brokers due to regulatory requirements. Moreover, the Group is currently regulated by CySEC in Cyprus, IFSC in Belize, FCA in the UK and the FSPR of New Zealand.

Exness has managed to collect quite a lot of awards, such as Best MT4 Broker 2016, and a lot more which can be seen on their About Us page.

The Broker provides support in 14 different languages, and with a minimum deposit as low as $3 for Credit Cards, Exness is ideal for newbie traders who do not want to risk much capital at the beginning of their trading career.

Exness Products

Exness Products
Exness Products



Exness provides clients with more than 120 Forex Currency Pairs to choose from. By focusing on one product, the broker maintains tight spreads, flexible margin requirements and quality order execution.

Exness Trading Conditions

Trading conditions on the Exness trading platform depends on the type of trading account which the trader is trading from. For the standard accounts, the spread for the benchmark EUR/USD starts from as low as 0.7 pips whereas it can go as low as 0 pips with the ECN account. In addition, it should be noted that trades on the ECN account will also be levied a commission charge.

Exness Account Types

Account Types at Exness depend on the country of registration of the Client. For most European Clients, Exness offers two types of Accounts, a Mini and Classic Account.

At first glance, one may think that the Mini Accounts mostly target newbie traders, due to the low Minimum Deposit. However, something that is unusual in the case of Exness, is that the contract size for its 'Mini' Account is still 100,000, and is not reduced to 1,000 or 10,000 as is done with other 'Mini/Micro' Accounts offered by Brokers, not to mention the Spreads which are approximately triple those of a Classic Account.

From our perspective, it is better for newbies to start with a Mini/Micro Account with a Broker that provides a much lower contract size, which would allow traders to try different strategies, EAs, and move on towards a Classic/Standard Account when more mature as a trader.

Non-EU Clients have access to 2 more types of Accounts, called a Cent Account and ECN Account. 

The Cent Account, is exactly the Account that we stated was missing above, which has a contract size of 10,000 instead of 100,000, whilst opening an Account with www.exness.com, gives clients the ability to have Unlimited Leverate, depending on the type of Account they choose!

The screenshot below highlights the differences between all the Account Types offered by Exness.

Exness Account Types
Exness Account Types

Exness Commissions & Fees

The trading fees and commission charged by Exness depends on the trading account type. For the standard accounts such as the Cent, Mini and Classic accounts, no commission is payable. Instead these account holders are required to pay a small spread on their trades with the Classic account enjoying the lowest spread. For example for the Cent and Mini account, the spread payable starts from 0.3pips. Whereas for the Classic account, the spread starts from 0.1 pip. For ECN account, the spreads are the lowest as traders here will be trading with raw spreads. However, they will need to pay a commission on their trades each way.

Exness Platforms and Tools

Exness is another renowned 'MT4 Broker', which offers the popular MetaTrader 4/5 Suite by MetaQuotes, along with the MetaTrader 4 Multiterminal which is intended for simultaneous management of multiple accounts, for which is mostly helpful for those whom manage investors' accounts and for traders working with many accounts simultaneously. 

The platforms are available on Desktop, Mac OS, & Linux, iPhone & Android.

Apart from the above, Exness also provides the 'Exness One Click Trader Trading Script' which allows traders to open & close positions with one click. Note that this is typically included within the MT4 Terminal of other Brokers.

Is Exness Mobile Friendly?

Overall, Exness is considered a mobile friendly platform as the broker has also made available mobile trading apps which are compatible for both iOS and Android powered devices. With the Exness MT4 mobile trading app, traders will be able to do the following:

  • Access interactive charts with 9 time frames
  • Access large library of technical indicators
  • Customizable charts
  • View live news feeds
  • View trading history

Exness Promotions

Promotions depend on the regulation of the entity a client is contracting with. Due to the recent changes in the CySEC legal framework, promotions have been banned, so therefore if a client was to register with the CySEC regulated entity, no promotions would be available.

However Non-EU Clients have access to various promotions rolled out by Exness which are usually very specific per country, and not per region.

The Broker also runs a Forex Trading Contest called #OnlyTheBest Midfielder where the top three traders win 4,000 USD each, of which 2,000 USD is immediately available for withdrawal, whilst the remaining 2,000 USD is credited as a Bonus.

Exness Website

The Exness' website does not really appear to be that of a typical Forex Broker. The images it uses on it's sliders sometimes can actually confuse viewers as to if this is really a forex broker or not.

Navigating through the website to find information can be daunting to say the least, as sections that are essential for all Broker Websites, such as more details about their Products & Services, do not exist.

Exness Homepage
Exness Homepage

On the other side however, its refreshing to see something different from a broker who does not follow the industry norm, and we're sure that with its strong branding, all Exness' visitors know that indeed they are a Forex Broker!

Exness Homepage 2018
Exness Homepage 2018

Exness Deposits & Withdrawals

Exness accepts the standard Payment Methods which are used throughout the industry. It does not offer the biggest variety of Payment Methods, but it definitely satisfies the mostly frequent payment methods such as Wire Transfers, Credit Cards and lastly eWallets, which are now being preferred by clients due to withdrawals being instant once processed.

Exness Payment Methods
Exness Payment Methods

As seen in the table above, Exness accepts a minimum deposit of $3 by Credit Card, which is fantastic for clients who are newbies and want to experiment with a Real Account instead of a Demo Account, but don't have to really risk a lot as they can opt in for a Micro Account.

Clients will also be happy to hear that Exness covers any transactional fees on deposits and withdrawals, which has also become a norm with the big players in the industry.

Exness Customer Support

Customer support service at Exness is multilingual and is available up to 15 different lanaguages such as Chinese, Farsi, Arabic, Urdu and Malay. To communicate with the support ream, traders can use live chat, email, social media or call them directly on the phone.

Exness Research and Education

Traders at Exness have access to Trading Central technical analysis via WebTV. In addition, Exness also provides Tick history for their traders to ensure effective strategy testing. For trading education, Exness seems to be lacking in this department. There are not many materials which beginner traders can refer to boost their trading knowledge.

Noteworthy Points to mention for Exness

The Exness brand is operated by two main companies namely Exness (CY) Ltd. and Exness (UK) Ltd. Both these companies are regulated and are in compliance of the MiFID directive. Apart from giving traders that they are dealing with a legitimate broker, Exness is also able to offer added protection to their clients as they are covered under the Investor Compensation Fund for Cyprus and the Financial Services Compensation Scheme for the UK.

Conclusion for Exness

From our observation, Exness has managed to provide its clientele with a decent array of trading instruments and account choices. The research material provided by the broker is also pretty decent as well as their customer service. However as noted above, their traders educational section can still do with some improvements.

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