Exness Review 2020

Exness Summary

Exness is a Russian-based Forex broker that has been operating since 2008, and now it is considered to be the biggest retail Forex broker in the world. This Forex broker is regulated by two top-tier financial regulators: the FCA and the CySEC. Exness is currently based in Cyprus with over 15,000 accounts being opened per month.

This Exness review will demonstrate its different features and aspects of this Forex broker.

Exness is a Forex trading broker that was headquartered in Russia in 2008, but it is now based in Cyprus. This Forex broker is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). You will find that there are several trading accounts and there are no commissions charged. As for the deposits and withdrawals, there are several payment methods with fast processing time. You will also find that the customer service is available 24\7, for English and Chinese speakers.

Exness Main Features
🛍️Established in:
2008
🛍️Headquarters:
Cyprus, Malaysia
⚖️Regulations:
CySEC; FCA; FSA
⚖️Country of regulation:
Cyprus, UK
💰Minimum Deposit:
$1
🎮Platforms:
MT4; MT5; WebTerminal
🎮Demo Account Available:
Yes
💱Leverage:
1:2000
💰Withdrawal fee amount:
$0
💰Inactivity Fee:
No

Background

The Exness Group was founded in 2008, based in Russia. This Forex broker commits itself to its goal of staying transparent, open, and honest in its operations. With its regulations in Europe and the UK, their process is kept transparent and open to the public.

Pros

  • Regulated by the FCA, CySEC and FSA
  • Commission-free trading available
  • Multiple accounts available
  • Fast withdrawal and deposit process
  • 24\\7 customer service available
  • Demo Account provided
  • Fixed spreads available

Cons

  • Standard Cent Account not available on MT5
  • Does not accept clients in the US, Israel, and more
  • Limited research materials
  • High minimum deposit for Professional Accounts

Safety & Regulation

Exness is a safe and trustworthy Forex trading broker that is regulated by three of the best financial regulators in the world. In compliance of the financial regulations, Exness also provides traders with negative balance protection and compensation schemes to avoid clients from losing all their funds.

This Exness review will show you how Exness values the safety and protection of its clients above all else.

Is Exness Safe?

Exness is a safe Forex trading broker since it values open and transparent interactions with the public. This Forex trading broker is in compliance with three different financial regulators and provides negative balance protection to its clients, in the case that a trader reaches the negative. Additionally, Exness offers traders a compensation scheme, if there was any fraudulent misconduct that took place. You will also find that Exness stores client funds in segregated accounts, away from corporate funds.

Pros

  • Regulated by the Financial Conduct Authority (FCA)
  • Regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Regulated by the Financial Services Authority (FSA)
  • Stores funds in segregated accounts
  • Conducts regular audit reports
  • Provides negative balance protection to clients
  • Investor protection to traders

Cons

  • Not publicly traded

Regulation

Exness is currently regulated by three different financial regulatory agencies. The financial regulators are three of the top tier agencies that are located in Europe, the UK, and Seychelles. This Forex broker is regulated by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) in the Seychelles.

Client Protection

Exness is a Forex trading broker that stores client funds in segregated accounts away from corporate funds. Additionally, Exness offers negative balance protection and compensation schemes to its clients, in the case of a client reaching negative balances or any fraudulent misconduct occurs. Also, Exness conducts regular audit reports and the performance of Exness is made available for the public to access, highlighting its transparency.

Awards

Exness has been awarded by the financial publication, World Finance Media, for its Best Trade Execution, Best Order Management, and as Best Mini Broker of 2014. In addition to its awards over the year, the Exness Group contributes to the restoration of rare species in Russia, as a form of corporate social responsibility. This Forex trading broker is currently advocating the WWF Russia’s projects to restore endangered species such as: the Persian leopard in the Caucasus and the Siberian tiger in the Far East.

Exness Fees

With Exness, the trading fees depend on the type of trading account you are willing to open. You will find that with each trading account, the trading conditions vary. On the other hand, you will find that the non-trading fees are similar to every trading account and that the non-trading fees are very low.

This Exness review will inform you of the different types of trading fees and non-trading fees that you should consider whilst join Exness.

Trading Fees

With Exness, there are two different types of trading fees that you should consider: spreads and commissions. In regards to commissions, the Standard Account does not contain any commissions charged for trades. On the other hand, the Professional Account requires a commission of 3.5USD to be charged per lot\\per side. As for spreads, you will have the option of choosing whether you want variable spreads or fixed spreads. With the Standard Account, spreads start from 0.3 pips, while the Professional Account has spreads that start from 0.0 pips.

Pros

  • Standard Account is commission-free
  • No deposit fee
  • No inactivity fee
  • No withdrawal fee
  • Fixed spreads
  • Low trading fees for Standard Account

Cons

  • High trading fees for Professional Account
  • Commission charged for 3.5 per lot\\ per side for Professional Account

Non-Trading Fees

With Exness, there are no non-trading fees. Non-trading fees are required payments paid for non-trading transactions. Exness does not require a deposit fee or a withdrawal fee. In addition, Exness does not charge an account fee, which is an annual fee that keeps your trading account active. Exness, also, does not charge an inactivity fee, which is a fee that is charged to your trading account after being inactive for a period of time.

Leverage

As for the leverage level that is provided by Exness, you are allowed a maximum leverage level up to 2000:1. Due to this high leverage level, Exness is not allowed to trade with US clients and other countries.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

Exness Fees Compared To Competitors
Exness  Markets.com IFC Markets
Account Fee No No No
Inactivity Fee No Yes No
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 30USD

#

Account Opening

Exness provides two different types of trading accounts: the Standard Account and the Professional Account. Both trading accounts are available on MetaTrader4 and MetaTrader5, but are very dissimilar in features. Each trading account depends on your level of experience and trading background.

Pros

  • Different trading accounts available depending on trader experience
  • Low minimum deposit for Standard Account
  • No commission charged for Standard Account
  • Both fixed and variable spreads available
  • Zero spreads are offered
  • Flexible leverage is provided
  • Fast account opening process

Cons

  • High minimum deposit for Pro Account
  • Commission charged for Pro Account

Exness Minimum Deposit

With the Standard Account, you are not required to pay a high minimum deposit amount to trade; you are required a minimum deposit of 1USD. On the other hand, you will find that the Professional Account requires more funds since it is a more complex trading account. The Pro Account has a minimum deposit amount of 2,000USD.

Exness Standard Account

The Standard Account is a trading account better suited for traders who are just starting out in the industry. You will be required to pay a minimum deposit of 1USD, and you will have a flexible leverage level that can reach up to 2000:1. As for spreads, you can choose whether you prefer fixed spreads or variable spreads. Whichever you decide, the spreads for the Standard Account start from 0.3 pips. You will be able to access the Standard Account from both the MetaTrader4 platform and the MetaTrader5 platform.

Exness Professional Account

On the other hand, the Pro Account is better suited for experienced traders and traders who have complex trading strategies. Due to the range of benefits that come with the Pro Account, you will be required to pay a minimum deposit of 2,000USD to trade and you will have access to a flexible leverage level that reaches up to 2000:1. With spreads, the option of fixed spreads and variable spreads are provided, but you will find that spreads can start from 0.0 pips with the Pro Account.

How To Open an Exness Live Trading Account

Step One: Fill in your personal information in the online application, including your new password for the trading account

Exness Step One

Step Two: Allow Exness to prepare your account

Exness Step Two

Deposit & Withdrawal

Exness offers fast withdrawal processes and different payment methods. There are eight types of account base currencies, including USD, JPY, and GBP. You can process deposits and withdrawals via Bank Transfer, Credit\\Debit Card, and Electronic Wallets.

This Exness review will inform you on the different payment methods available and the diverse account base currencies.

Account Base Currencies

With Exness, there are two different trading accounts: the Standard Account and the Professional Account. The two trading accounts accept eight different base currencies: USD, EUR, GBP, AUD, CHF, JPY, NZD, and SGD.

USD EUR GBP AUD
CHF JPY NZD SGD

Deposits

Deposits with Exness do not require a fee, and you do not have to wait a long time for your deposits to be processed. The deposit process would only take approximately 24 hours, or 1 business day, to be processed. You can choose from the different account base currencies, and the diverse payment methods. Exness offers you the option of making a deposit with different methods such as: Credit\\Debit Card, Bank Transfer, and Electronic Payments.

Pros

  • No deposit fee
  • Different account base currencies
  • Fast deposit process
  • Several types of payment methods

Cons

  • None

Exness Deposit Options

  • Bank Wire Transfer
  • Credit\\Debit Card
  • Electronic Wallet

Withdrawal

Exness withdrawals are a beneficial factor for active traders. One of the biggest issues in Forex trading is the slow withdrawal process. However, with Exness, withdrawals are processed in approximately 1-3 business days. You also will not have to concern yourself with paying a withdrawal fee, since withdrawals are free. Additionally, Exness offers variety with account base currencies and payment methods; you can choose from eight different account base currencies and three different payment methods.

Pros

  • No withdrawal fee
  • Different account base currencies
  • Fast withdrawal process
  • Several types of payment methods

Cons

  • None

Exness Withdrawal Options

  • Bank Wire Transfer
  • Credit\Debit Card
  • Electronic Wallet

Trading Platforms

Exness provides traders with three different trading platforms, depending on the level of experience the trader possesses. The three trading platforms are: MetaTrader4, MetaTrader5, and WebTerminal. These three trading platforms are suited for novice traders, experienced traders, and even traders who prefer algorithm trading.

This Exness review will use MetaTrader4 as a model to demonstrate the features you can find in Exness.

  • MetaTrader4
  • MetaTrader5
  • WebTerminal

Web Trading Platform

With Exness web trading platform, you will find that you can trade flexibly. You will be given the opportunity to create your own trading strategies and improve them with indicators that are customized to your preference. The web trading platform allows you to stay updated on current events with a live news feed, and you can trade apply automatic trades via Expert Advisors (EAs). In terms of security, all client information and transactions are encrypted using 128-bit keys, which will prevent any hacking to occur in your trading platform account. The web trading platform also offers a Demo Account as a learning approach to test out the trading platform and understanding the way it operates.

Pros

  • Available on all operating systems
  • Easy to navigate
  • 30 customizable indicators
  • Live news feed
  • Expert Advisors available
  • Demo Account provided
  • Encryption using 128-bit keys

Cons

  • No price alerts or notifications

Desktop Trading Platform

With Exness desktop trading platform, you will find that it is similar to the Exness web trading platform. The desktop trading platform can be downloaded on both Mac and Windows, where you will find the design is easy to pilot. There are 30 different customized indicators that will aid in developing your trading strategies. Additionally, you can always access trades to be automatically executed with Expert Advisors. As for security and client protection, you will find that the desktop trading platform is encrypted via 128-bit keys, protecting your funds and information from external sources. If you are unsure of the trading platform, you can always try out the Demo Account of MetaTrader4, which is also available with the MetaTrader5 platform.

Pros

  • Downloadable on Mac and Windows
  • Flexible trading
  • 30 indicators are available to customize
  • Updated news feed
  • Automated trades available via Expert Advisors
  • Demo Account available
  • Encryption via 128-bit keys
  • Price alerts and notifications

Cons

  • Basic pending orders

Mobile Trading Platform

With Exness mobile application, you will be able to use it the same way you use the desktop trading platform or web trading platform. However, with the Exness mobile application, you can trade on the go by downloading the platform on your Android or iOS device. You will have 30 indicators that are available for you to customize to your trading needs, along with the ability to stay up to date with a live news feed. Even when you are not trading, you can still activated automated trades with Expert Advisors. If you are unsure on how to use the Exness MT4 mobile trading platform, you can always test your abilities via Demo Account. However, you will not be able to use your facial recognition and fingerprint as a form of identification.

Pros

  • Downloadable on iOS and Android
  • Flexible trading on-the-go
  • 30 indicators are available to customize
  • Live news feed updated on the spot
  • Automated trades available via Expert Advisors
  • Demo Account available
  • Encryption via 128-bit keys

Cons

  • No facial recognition
  • No fingerprint recognition

Markets & Financial Instruments

Exness offers access to eight major financial markets and allows you to trade with more than 100+ financial instruments. The two available trading accounts allow you trade with cryptocurrencies, currency pairs, metals, stocks, and more.

This Exness review allows you to view all the available financial markets and financial instruments you will have access to while trading with Exness.

Exness offers access to eight different financial markets, and allows you to trade with more than 100+ financial instruments. You will be able to trade with 107 different currency pairs, 40 different stocks and indices, 12 metals and energies, and 7 different cryptocurrencies. The 107 currency pairs include both major Forex pairs and minor Forex pairs.

What Exness Offers
Forex Metals
Energies Cryptocurrency
Stocks Indices

Pros

      • Provides cryptocurrency
      • Eight different asset classes and financial markets
      • More than 100+ financial instruments
      • Contains major currency pairs

Cons

      • None

Markets Research & Trading Tools

Exness provides three different trading tools that are essential for every trader, and two cornerstone market research analysis materials. This allows you to enhance your trading strategies and your trading background.

This Exness review will provide you with all the features that market research materials and trading tools provide for you.

Trading Tools

Exness trading tools help traders to enhance their trading strategies and keep their trading decisions accurate to ensure success during trading. The trading tools that are available for you are Calculator, Converter, and VPS Hosting.

There are three different trading tools that are available for members of Exness: Calculator, Convertor, and VPS Hosting. Calculators allow data on the basics of your trading positions including: Margin, Point Profit, Swap Long and Swap Short, Volume and Lot Price. As for the Convertor, you will be able to instantly convert major currencies. Finally, the VPS Hosting will benefit you in speed, stability, portable trading, and trading for 24 hours.

Exness Tools
Converter Calculator
VPS Hosting

Pros

      • Calculator provides data on the basics of your trading positions
      • Instant currency convertor
      • VPS Hosting allows traders to have stable terminals

Cons

      • Limited range of trading tools

Market Research

There are two main market research materials, which are Economic Calendar and Web TV. The economic calendar is updated regularly and the Web TV provides video streams of financial news. You will be able to stay updated with the economic calendar and Web TV, keeping you in touch with the trading world.

Pros

      • Web TV offers live financial news
      • Economic Calendar is updated daily
      • Market research materials are available for all members

Cons

      • Limited range of market research materials

Market research materials are used by members of Exness will allow you to improve your trading background. The first market research material is the economic calendar, where it allows you to keep track of global events on the trading industry. The second market research material is a visual version of the economic calendar, referred to as Web TV. Web TV means you can watch financial news of the world through the Exness website.

Customer Service

The Exness customer service support is a 24\7 service that allows English and Chinese speakers to inquire about anything regarding Exness. As for the other 16 languages, then you can reach the customer service support on Mondays to Fridays.

This Exness review will inform you of the different means of communication to reach the customer service of Exness.

Exness offers customer service that is available in 18 different languages. Excluding English and Chinese, you can reach the customer service support for 24 hours a day and 5 days a week. While English and Chinese speakers have the option of contacting customer service for 24 hours a day, and 7 days a week. You will be able to reach them in several ways, including a live chat you will find in their website.

Pros

      • Available in 18 different languages
      • English and Chinese customer service are available 24\\7
      • Different means of communication
      • Fast response time
      • Relevant answers to your questions

Cons

      • Slow response time with email support

Means Of Communication

      • Live chat
      • Email support
      • Phone support
      • Postal service

According to customer experience, the customer service support of Exness is very beneficial to the extent that it positively influenced their overall trading experience. The staff was accommodating and very patient with the clients, providing answers that were relevant to the client’s questions. However, we suggest that you do not use the email support if you have a pressing matter to attend to with Exness. Email support is the slowest mean of communication, taking approximately 48 hours before you receive a reply from the customer service staff of Exness.

Client Education

Exness values its clients and their education in the trading industry, which is why you will have access to all kinds of educational resources. From a simulation to a trading glossary, they are all available for you.

This Exness review will provide a step-by-step guide on how to open a Demo Account.

Pros

  • Different forms of educational resources
  • Free Demo Account provided
  • 10,000USD of virtual funds on the Demo Account
  • Unlimited access to all resources
  • Resources are for both novice traders and expert traders

Cons

  • None

There are several types of educational resources that you can learn from, to be able to enhance your trading knowledge. You can use the Exness Academy, which allows you to go through a step-by-step guide to learning all there is about trading. The Exness glossary is a letter-by-letter dictionary on trading terminology, allowing you an expedited version of trading terns. Additionally, the webinars are interactive seminars that allow you to learn about different trading topics. Educational resources are not just written and visual resources; there is also a simulation that you can try out. The Demo Account is a free unlimited account that allows you to try out the platform without having to face any financial loss.

Client Education Resources

  • Exness Academy
  • Glossary
  • Webinars
  • Demo Account

How To Open a Demo Account with Exness

Step One: Fill out the online application with your personal information

Exness Demo Step 1

Step Two: Respond to the questions that are relevant to your trading knowledge and financial background

Exness Demo Step 2 Exness Demo Step 2(2) Exness Demo Step 2(3)

Step Three: Start trading with 10,000USD of virtual funds

Exness Demo Step 3

Conclusion

Exness is a Forex broker that is based in Russia, operating since 2008, but now in 2020, it is considered to be the biggest retail broker all over the world. Exness is regulated by three top-tier financial regulators in the world: the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority. That being stated, Exness is one of the safest and most trustworthy Forex brokers to trade with. At the moment, Exness currently headquarters in Cyprus with 15,000+ trading accounts being opened on a monthly basis.

You will find that there are several trading accounts and there are no commissions charged. As for the deposits and withdrawals, there are several payment methods with fast processing time. You will also find that the customer service is available 24\\]7, for English and Chinese speakers.

Overall, Exness is a trustworthy and safe Forex broker that is known to keep all of its transactions transparent and open for the public to view.

Exness
$1
Min. Deposit
100%
Bonus
Regulated byCySEC, FCA, FSA
Leverage1:2000
Customer Support24/5
Open Account

Exness Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions 

 

Is Exness A Good Broker?

Exness is a safe and trustworthy Forex trading broker that is regulated by three of the best financial regulators in the world. In compliance of the financial regulations, Exness also provides traders with negative balance protection and compensation schemes to avoid clients from losing all their funds.

Is Exness Legit?

Exness is a safe Forex trading broker since it values open and transparent interactions to the public. This Forex trading broker is in compliance with three different financial regulators, and provides negative balance protection to its clients, in the case that a trader reaches the negative. Additionally, Exness offers traders with a compensation scheme, if there was any fraudulent misconduct that took place. You will also find that Exness stores client funds in segregated accounts, away from corporate funds.

How Long Do Exness Withdrawals Take?

Exness withdrawals take approximately 1-3 business days, depending on the type of payment method you used for withdrawal.

What Is The Minimum Deposit For Exness?

For the Standard Account, Exness requires a minimum deposit of 1USD or its currency equivalent. On the other hand, the Exness Professional Account requires a 2,000USD minimum deposit.

Is Exness Regulated?

Exness is currently regulated by three different financial regulatory agencies. The financial regulators are three of the top tier agencies that are located in Europe, the UK, and Seychelles. This Forex broker is regulated by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) in the Seychelles.

Is Exness An ECN Broker?

Yes, Exness is an ECN broker.

Is Exness Safe?

Exness is a Forex trading broker that stores client funds in segregated accounts away from corporate funds. Additionally, Exness offers negative balance protection and compensation schemes to its clients, in the case of a client reaching negative balances or any fraudulent misconduct occurs. Also, Exness conducts regular audit reports and the performance of Exness is made available for the public to access, highlighting its transparency.