Exness Review

Founded in 2008, Exness is a broker which has since gained steam in the market and now boasts nearly 60,000 active client accounts from all over the world. Traders gravitate towards Exness due to its regulatory oversight and licensing from the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), but also because Exness offers several flexible account types and financial instruments to suit various strategies.
 

 

💱  Instruments	Currencies, Crypto, Indices, Metals, Energies, Stocks
💳  Funding & Withdrawal	Bank cards, Neteller, Skrill, Perfect Money, WebMoney, Neteller, Skrill, BTC, USDT and other local and international EPS
💻  Broker Type	STP | ECN
👨🏽‍💻 Account Types	Standard, Standard Cent, Standart Plus, Pro
⌛️ Language	English, Chinese, Russian, French, Thai, Indonesian, Arabic, Hindi, Urdu, Tamil, Bengali, Vietnamese, Spanish, Korean
🎮  Virtue	Bitcoin funding accepted

 

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Account Types

Exness has two main types of accounts: standard and professional. The standard account is then divided into two: MetaTrader 4 and MetaTrader 5. The MetaTrader 4 has two account types: Standard and Standard Cent. The Standard Cent is more ideal for traders who are starting in the industry because it enables micro-lots. It has a maximum leverage of 1:2000. Standard accounts do not charge a commission. Instead, the broker makes money by using the spread.

Exness’ next account type is Professional. The main difference is that the Professional account charges a minimum commission of $3.5 per trade. I feel that this account is ideal for highly experienced traders. Its three types are Raw Spread, Zero, and Pro.

Trading Platforms

Like most Forex and CFD brokers, Exness offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms can be used on mobile and desktop devices. There is also a web trader that can be accessed on a browser. It also offers the MT4 multiterminal that helps one manage multiple accounts at once.

Leverage

The leverage offered to Exness clients varies by account type, instrument, and trading entity due to regulatory requirements. Some regulators allow high margin rates, up to 1:2000, and leverage can even be unlimited in some jurisdictions, accommodating all trading strategies.

We would recommend utilising risk management strategies when trading with high leverage to protect against significant losses. Since the FCA, CySEC and other European authorities operate under the MiFID directive, retail traders will be subject to leverage capping. This includes a maximum 1:30 leverage for major currency pairs, 1:20 for minor forex pairs, and 1:10 for commodities trading.

Fees & Commission

Exness spreads are generally tight and are variable based on the account type chosen. Spreads start from 0.3 pips on the Standard Cent Accounts and from 0.1 pips on the Standard Account, with no commissions on all trading volumes.

The Pro ECN Account features a raw spread with a variable commission structure per trade.

The Exness Zero (0) Spread Account offers no spreads throughout 95% of the trading day across 30 currency pairs. However, our review found commission is applicable, with charges from $3.50 per lot/side.

Popular metals, including gold, are offered in the form of a currency pair such as XAU/USD. A useful spread comparison table is available on the broker’s website.

The broker also charges swap rates for positions held overnight and an inactivity fee, further details of which can be found on the company website.

Payment Methods

Deposits

Minimum deposits vary by account type and by payment method. Exness traders can open a Standard Account with just $1, which is very competitive vs OctaFX at $25 and IC Markets requiring a $200 minimum. Exness does not charge a fee for any payment method, however, third-party charges may be applicable. You must verify your account before attempting to add funds.

Funding your account is simple, and can be completed by accessing your personal trading area. 50+ base currencies are available for live trading accounts including USD, AUD, ZAR, and KWD. Accepted account payment methods include:

• WebMoney – Instant Processing, minimum deposit $1
• Perfect Money – Instant funding, minimum deposit $50
• Bank Wire Transfer – Instant funding, minimum deposit $3
• Offline Bank Transfer – Instant funding, minimum deposit $10
• Debit/Credit Cards – Including Mastercard and Visa. Instant funding, minimum deposit $3
• E-Wallets – Including Neteller and Skill (1% fee). Instant processing, minimum deposit $10

Not all payment methods will be available depending on your country of residence. Note that once you’ve opened an account, the base currency cannot be changed, however, a new account can be opened in an alternative currency.

Withdrawals

Exness does not charge for withdrawals. Minimum and maximum limits vary by the chosen method, including a $6 minimum amount for debit/credit card withdrawals. Clients will be pleased that transactions back to your original payment method are instant. Typically a 5-day wait, often with applicable fees, is offered by competitor brokers. For full details on how to deposit, any withdrawal problems, or understanding an exchange rate to a base currency, visit the online help centre on the broker’s website or contact the customer support helpline.