This dynamic approach offers traders flexibility in managing their trading costs. Exness has a decent range of forex pairs to trade but it doesn’t offer any ETFs, bonds or treasuries, futures, or the option to purchase underlying shares. If you are a beginner and don’t really understand all the concepts of trading and just want to find good signal providers to follow, the Exness social trading app is a decent option. If you are going to follow someone then there is every reason to want to know the signal providers equity and their risk management strategies. Unfortunately, Exness don’t offer PayPal, or xcritical and limits NETELLER and Skrill to Kenya which is surprising.
- With MT4 and MT5 trading platforms and spreads with instant execution, the broker’s most unique feature is their unlimited leverage.
- Overall, while these spreads aren’t bad, they’re also not the best, so If you’re looking for a broker with the tightest spreads, you can read our analysis on the most competitive brokers.
- If you are trading with the Raw or Zero Account you can trade 73 Forex pairs which include fewer exotic pairs compared to the no-commission accounts.
- Additionally, their trading volume in 2021 was over $11 trillion, and this was verified by their independent auditor, Deloitte.
With a strong emphasis on transparency and user-friendliness, Exness caters to traders of all levels. This review will delve into the key aspects of Exness, shedding light on its unique advantages and why it’s a preferred option among traders. While Exness has a range of funding options, they are missing some major providers such as PayPal, Apple Pay and xcritical. However, we notice Exness do accept cryptocurrencies which is good if you have embraced crypto payments. Overall, while these spreads aren’t bad, they’re also not the best, so If you’re looking for a broker with the tightest spreads, you can read our analysis on the most competitive brokers.
Opening an account with Exness is relatively straightforward and entails the usual steps. You will need to provide proof of identity, proof of residency, and verify your email and phone number. Both their official website and client support are available in 16 languages including English, Thai, Chinese, and Swahili. While Exness is regulated by various regulators, it’s only covered by one tier 1 regulator, the Financial Conduct Authority in the United Kingdom. Overall, we scored Exness well given the large amount of leverage available. Of course, excessive leverage is never a good thing, but we think the flexibility and the freedom to set your own limit is a big plus for Exness.
About this app
The Standard Cent account is tailored for newbies, allowing them to trade smaller volumes with cent lots for testing strategies. With stable spreads, reliable execution, and no commission, it provides an ideal starting point with up to 36 trading instruments. The Standard account, suitable for both novice and experienced traders, features no minimum deposit requirements, stable spreads, and over 120 trading options. The Pro account xcritical targets seasoned traders, offering limitless orders, smaller volumes, and low spreads from 0.1 pip. The Zero account, designed for market execution, provides zero spreads on top instruments for 95% of the day, making it suitable for expert advisors. Lastly, the Raw Spread account, tailored for experienced traders, boasts ultra-low, stable spreads with a fixed commission per lot, no position limits, and market execution.
If you’re just starting out as a beginner, the Standard Cent account could be a good option as it allows you to trade with smaller lot sizes (0.01). It’s important to note that values are also reflected in cents rather than dollars (or whatever the cent equivalent is in your account currency). No commissions are charged on Standard Cent accounts, however, be aware that since you are trading with micro-lots, spreads will be wider than with other accounts. Overall, Exness’ flexible deposit and withdrawal options contribute to a user-friendly experience, allowing traders to efficiently manage their funds.
Drawbacks we noticed include the lack of ability to set price alerts but strangely we can do this with the mobile version. The other missing feature is a lack of education and integrated research tools like connectivity to Forex news. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. The details regarding overnight funding fees are not mentioned https://scamforex.net/ in the provided information. While the broker is regulated in 8 jurisdictions, only the FCA and CySEC are ones we would take seriously as a regulator and strangely, the broker does not operate out of this market. We asked their support team about security and they advised that your funds are always segregated from the company’s own funds for protection and that each transaction is verified via your chosen security type.
Account Types
Additionally, Exness is a market maker which means they provide their own liquidity and are the counterparty to your trades. In accordance with our internal rules, we do not provide services to individuals who are residents or legal entities based in the United States of America. We comply with the Payment Card Industry Data Security Standard (PCI DSS) to ensure your security and privacy. Our withdrawals are carried out in seconds with no manual processing, including on weekends.
Enhancing Trader Education
When it comes to trading platforms, Exness has its own proprietary Terminal which combines with TradingView giving you a good range of analytical tools and order types in addition to MetaTrader 4 and Metatrader 5. The brokers also have an in-house developed App for trading and a separate one for social trading. Exness’s commitment to transparency, security, and user-friendly features makes it a top choice for traders seeking a reliable and innovative broker. Its strong regulation, comprehensive range of trading instruments, and user-centric approach position it as a valuable partner in the trading journey. Exness’ trading platforms provide a good range of options for traders, including the popular MT4 and MT5 platforms. Exness employs a variable spread model on its trading instruments, with spread values subject to change based on market conditions and account type.
Exness Review
Whether you are a novice looking to test strategies with smaller volumes or an experienced trader seeking ultra-low spreads, Exness provides a range of options to enhance your trading experience. Exness distinguishes itself through an extensive range of tradable instruments, catering to diverse trader preferences and strategies. Traders can explore commodities, including precious metals, and energies, to diversify their portfolios.
One odd thing we noticed is that the live chat gives you a time-out message, even though you are actively chatting. Other than that, we think the customer service and support seem pretty good, and we scored Exness well accordingly. We found it interesting when we discovered that Exness automatically allocates a swap-free account (also called an Islamic account) to all clients based in countries that follow Sharia law.
