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Exness Broker Review

Exness

Founded in 2008 and licensed by CySEC (Exness Ltd, 178/12) and FCA (Exness Europe Ltd, 730729), Exness is one of the biggest brands in online trading retail finance. The broker, which in 2017 signed a sponsorship deal with Real Madrid and Christiano Ronaldo achieves huge trading volumes – up to 313 billion USD in March the same year. This shows that this CFDs and forex broker is able to offer top trading conditions and regulated trading environment for their traders. Exness website is one of the best designed in the business – it cointains all the info traders may need, while it’s also very simple to navigate and get an overview of all the features. Exness has also managed to comply with ISO standard 9001:2008 confirming their excellence in the organization of forex trading. To learn more about exness accounts, trading platforms and assets, read our review.

Account Features

Exness offers many features for traders. Definitely take a look at their analysis section, as well as the tools section to get an idea what is available to traders in order to get a better overview of the daily market activities. As with most forex and CFDs brokers, exness also offers a demo account. When opening the demo account the trader still needs to decide if she wants a Mini or a Classic account. After that the phone number and email are required to open the account. Both will need to be verified, so don’t go writing in wrong phone or email since it will be impossible to open a demo account this way. You need the verification codes.

After that, the trader can set the leverage, currency and the amount of virtual funds and investor + trading passwords and click open the account to finish the process. We found the whole thing a bit counter intuitive but it is nice that the trader can fund the virtual currency for the account. The leverage seems to be capped at 1:50 for the demo account. Generally, it is up to 1:200 depending on the volume, local regulations (for Poland up to 1:100) and the established expertise by the trader when opening an live account.

Since the broker uses MetaTrader platform, the next screen will show the server name and login details along with steps needed to sign into the platform. Another interesting thing is that a person can open multiple trial accounts, as exness calls the demo account. So the access to the trader’s personal area is not necessarily tied to just one set of platform access codes, several more can be added! On the side of the personal are are menu items like deposit, contests, bonuses and others, however, these are only available to the live account holders – meaning the trader needs to complete the registration which will involve entering more information into the system – personal info, security setup, profile of trader’s finances and trading experience (this is used to assess the eligibility for this kind of investment).

Exness offers 2 types of accounts – the Mini and the Classic. See the features for both below

Exness Mini Account

  • Minimum deposit: $3
  • Leverage: up to 1:200
  • No Commission
  • Spread: from 0.3 pips
  • No limit to open positions
  • Max number of positions 100
  • Margin Call: 60%
  • Stop Out 0%
  • No access to interbank liquidity
  • Forex with instant and market execution
  • Futures CFDs – market execution

Exness Classic Account

  • Minimum deposit: $2000
  • Leverage: up to 1:200
  • No Commission
  • Spread: from 0.1 pips
  • No limit to open positions
  • No limit to max number of positions
  • Margin Call: 30%
  • Stop Out 0%
  • Access to interbank liquidity on dealers discretion
  • Forex with instant and market execution
  • Futures CFDs – market execution

Trading Central Web TV is also a nice resource for those who prefer video reports and technical analysis this way.

Trading Software & Assets

As mentioned, exness uses both MetaTrader 4 and MetaTrader 5 platforms. Traders may need to use both. In case you prefer forex trading, then Metatrader4 is used, in order to trade futures or shares, MT5 will be needed. Otherwise, since both are standard across many brokers, there is not much to write home about. Exness lists advantages of both

MetaTrader4

  • Supports instand and market execution
  • Supports EAs
  • Advanced analysis
  • Multiterminal option

MetaTrader5

  • supports shares and options
  • new types of pending orders
  • additional conditions for stock trading
  • Level2 quotes support
  • DE can be used directly from the platform
  • New type of MQL

Support Informatio

Exness provides premium support to customers. The website is available in more than 20 languages, while the live support can speak 14 languages. It is one of the few brokers that have 24/7 (for Russian, Chinese, English) support for traders around the globe. Each support center has separate opening and closing hours to provide service to the region it supports. This means that traders will not encounter “closed doors” when they experience issues, just because they are in part of the world that is too far from London or other European centre of the broker.

The live chat is available with an integrated FAQ – so as the question is typed, the system tries to provide a solution before the agent is contacted in case the FAQ could not help. Other than that phone contact and email support are available, as expected. You can even request a call-back to avoid phone charges.

Banking & Company Information

One area we thought exness falls a bit short is the banking. If you want to deposit money or withdraw, the broker offers just several options. We have listed them below.

Bank wire

  • Minimum deposit $10
  • Minimum withdrawal $40
  • Fees: $40 per withdrawal if withdrawal is lower than $1000
  • Supoorted currencies: EUR, USD, GBP, RUB, BYR, CHF, DKK, JPY, KZT, LVL, LTL, NOK, SEK, CNY, CAD, AUD

Credit Cards

  • Cards: Visa Mastercard
  • Minimum deposit: $3
  • Minimum withdrawal: $6
  • Deposits are instant
  • Withdrawals can take up to 7 days
  • Currencies: USD, EUR, RUB, GBR
  • Deposit Fees: $1 for deposits lower than $50
  • Withdrawal fees: 3USD+1.2% for withdrawals lower than $100

Neteller

  • Minimum deposit: $10
  • Minimum withdrawal: $4
  • Deposits are instant
  • Currencies: USD, EUR, GBP, CAD
  • Deposit Fees: $0

Skrill

  • Minimum deposit: $10
  • Minimum withdrawal: $10
  • Deposits are instant
  • Currencies: USD, EUR
  • Deposit Fees: $0
  • Withdrawal fees: 1% for withdrawals lower than $20

Exness includes a 2-factor uthentication for your account operations, meaning that even if someone steals the account info, they will not be able to withdraw money from the account or anything else.