Exness review
Introduction of the broker Exness
EXNESS is a brokerage company based in Cyprus, founded in 2008, and regulated by CySEC. This broker offers various types of trade execution, including ECN, MM, and STP, ensuring flexibility and options for different trading strategies. With very low spreads starting from 0.1 pips and maximum leverage up to 1:30, EXNESS provides competitive conditions for traders. The minimum deposit is set at only 1 USD, making it ideal for beginners who do not wish to invest large amounts from the start.
Deposit and Withdrawal Methods
One of the significant advantages of this broker is the wide range of methods for deposits and withdrawals, including bank transfer, credit and debit cards, Neteller, Skrill, and account transfers. This ensures convenience and flexibility in managing funds. EXNESS offers trading with various instruments such as indices, CFDs, gold and silver, energy, commodities, and major and minor currency pairs. This diversity allows traders to diversify their portfolios and find the best trading opportunities.
Trading Platforms
EXNESS supports various trading platforms including MetaTrader 4, MetaTrader 5, MT4 for mobile devices, Webtrader, and MT4 Webtrader. These platforms are known for their reliability and a wide range of tools for technical analysis. Additionally, the broker offers social trading through MAM accounts and allows account currencies such as NZD, gold, CZK, USD, EUR, JPY, CHF, GBP, SGD, and AUD. This flexibility is advantageous for traders from different regions and with different preferences.
Special Features
Another advantage of EXNESS is the various special features such as allowing scalping and hedging, support for AOS (automated trading systems), segregated bank accounts, free deposits and withdrawals, a free demo account, a cent account, a virtual private server (VPS), Islamic accounts, and tools like Autochartist. There is also online support and a dedicated client area, enhancing the level of service and convenience for traders.
Types of Trading Accounts
EXNESS offers different types of trading accounts including Mini, Classic, ECN, and Cent. All these accounts allow scalping, hedging, and trading with expert advisors. Trading platforms are available for both desktop and mobile devices, providing flexibility and accessibility for trading from anywhere. The minimum position size is 0.01 lots, and the maximum position size is unlimited, making it ideal for traders of all levels. The broker also offers swap-free accounts and floating spreads, which can be attractive for traders looking for low trading costs.
Conclusion
Overall, EXNESS is a very attractive option for traders of all levels. It offers a wide range of trading instruments and account currencies, flexible trading platforms, and favorable trading conditions. Although it does not offer deposit bonuses, it compensates with a low minimum deposit and free deposits and withdrawals. Regulation by CySEC adds credibility and security to the broker, which is crucial for investor protection. Therefore, EXNESS is a suitable choice for those looking for a reliable broker with a wide range of options and favorable trading conditions.
Risk warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51 - 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Basic information | |
|---|---|
| Regulations |
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| Number of CFD asset classes | 5 |
| Customer support |
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| Deposit from | 10 EUR/USD |
| Spreads | 1 EUR/USD *The value is indicative from the broker's website. The spread amount is variable. |
| Real Stocks and ETFs | |
| Platforms |
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| Instruments CFD | Commodities, Share CFDs, Forex, ETF, Indicies |
| Established | 2008 |
| Country | Cyprus |
| Last update: | |
Pros
- Global broker with branches in South Africa, the United Kingdom, and Seychelles.
- Wide selection of instruments including a good range of Forex and CFDs.
- Suitable for beginners and professionals.
- Uses MetaTrader technology (MT4 and MT5).
- Advanced research and analysis tools.
- Low minimum deposits, starting from 10 USD.
- 24/7 customer support.
- Quality educational materials and demo account available.
- Fast digital account opening.
Cons
- Absence of multi-currency accounts.
- Conditions vary by entity, which can be confusing.
- Limited offering of trading instruments, mainly focused on Forex and CFDs.
- Changes in regulations and licenses, which can lead to service instability.
- Not listed on the stock exchange.
- Average spreads compared to other brokers.
Licences and regulation
The following entities are part of the Exness Group, each holding relevant authorizations and licenses from regulatory bodies across various jurisdictions. These licenses ensure compliance with local regulations and provide a secure trading environment for clients. Below is a list of Exness entities and their respective authorizations:
- Authorized by FSCA (South Africa) license no. 51024 - Exness ZA (PTY) Ltd
- Authorized by FSC (Mauritius) license no. 176967 - Exness (MU) Ltd
- Authorized by FSC (BVI) license no. SIBA/L/20/1133 - Exness (VG) Ltd
- Authorized by CBCS (Curaçao) license no. 0003LSI - Exness B.V.
- Authorized by SFSA (Seychelles) license no. SD 025 - Exness (SC) Ltd
