Abstract：Exness is a forex broker who was initially registered in Seychelles in 2008, and now has offices in 7 countries all over the world after 16 years of development. The company is currently regulated by 4 supervisory authorities - CYSEC, FCA, FSCA and FSA (offshore) in several countries.
Exness is a forex broker who was initially registered in Seychelles in 2008, and now has offices in 7 countries all over the world after 16 years of development. The company is currently regulated by 4 supervisory authorities - CYSEC, FCA, FSCA and FSA (offshore) in several countries.
Exness offers trading services in CFDs on forex, indices, commodities, cryptos, and stocks. A demo account is available for practice, while for live trading, retail traders can choose the Standard accounts with a minimum deposit of $10 and Professional accounts requiring a minimum deposit of $3,000 are premium choices for seasoned traders.
Trades are executed on the industry-leading MetaTrader 4/5 and the broker's proprietary Exness Trade platform.
While starting spreads are tight and competitive for some instruments, they can be extremely wide for others.
Furthermore, high commissions for some products in Zero accounts and overnight administration fees also increase trading costs for traders and impact their profitability.
Exness Pros & Cons
Exness Regulation & Security
Is Exness safe? When reviewing Exness, one of the primary concerns for beginners is the platform's safety and security. This is a question that almost all newcomers prioritize when investing. To address this concern, we will explore it from two crucial aspects: regulations and protection measures.
Exness Regulations
Exness is currently regulated in different countries by 4 major financial authorities:
- Cyprus Securities and Exchange Commission (CYSEC) in Cyprus
- Financial Conduct Authority (FCA) in the United Kingdom
- Financial Sector Conduct Authority (FSCA) in South Africa
- The Seychelles Financial Services Authority (FSA) in Seychelles
These regulatory bodies are authoritative in the industry and, to some extent guarantee Exness's stringent compliance to industry standards. When there are disputes, there will be intermediary reconciliation from these institutions.
You can always verify Exness's regulatory status and explore its more details on WikiFX. WikiFX has the world's largest database of forex brokers, covering essential aspects such as company qualifications, regulatory status, historical performance, user reviews, and risk ratings, all rigorously verified. With over 60 regulatory agencies included, WikiFX provides a comprehensive resource for assessing the credibility of brokers like Exness.
Security Measures
Exness takes a series of security measures to protect the payment process and client funds. Some of them are:
- Compensation Fund: As a member of the Financial Commission, Exness provides dispute resolution services and up to €20,000 coverage per client in case of broker non-compliance.
- Segregated Accounts: Client funds of Exness are held in segregated accounts at tier-1 banks, which means clients can always get their money back at any time, even when the company goes bankrupt.
- 3D Secure Payments: All major credit card transactions (Visa, Mastercard) through Exness include 3D Secure verification for fraud protection via one-time PINs.
- PCI DSS Compliance: Exness fully adheres to PCI DSS standards to ensure card data security through encryption, vulnerability scans, and robust management practices.
For above we can conclude that Exness is not only backed by strong regulatory oversight to ensure legitimate financial activities but also employs robust security measures to protect client funds and safeguard daily operations.
Market Instruments
Exness offers a wide range of trading products across 6 asset classes, enabling traders to scatter their risks and seize numerous market opportunities.
Exness Account Review
Exness offers a demo account for clients to practice to familirize themselves with the platform and test their trading strategies before they commit to actual trading.
For live accounts, Exness offers two standard accounts for retail clients and three live accounts for professional clients. Swap-free versions of these accounts are also available for those who need to comply with religious regulations.
Standard Accounts for Retail Clients
With a low barrier to entry of a $10 minimum deposit, tight starting spreads, commission-free structure, and unlimited positions, the Standard accounts is suitable for beginner and intermediate traders.
Professional Accounts for Professional Traders
For professional investors, the broker provides Professional accounts with three tiers for experienced traders, with low spreads and advantageous conditions for scalpers, day traders, and algo traders.
With competitive spreads, flexible leverage options and favourable trading conditions, Exness' account offerings are well-rounded and accommodate both new and professional traders.
However, commissions for some instruments are very high. For example, it can be up to $585.5 for XPDUSD (most latest details can be found on https://www.exness.com/fees/), which will undoubtedlyeat up a large portion of clients' profits. Hence, you should always balance the spread and commission when choosing an instrument and ensure all the costs are within your tolerance and financial capacity.
Exness Trading Platforms
Exness offers several platforms for trade execution and market analysis.
Exness Trade App
Exness offers a proprietary Exness Trade App that delivers mobile-first trading with advanced charting, real-time price alerts, and an in-app calculator. It includes market analysis tools like Trading Central signals and FXStreet news, alongside seamless account management for deposits, withdrawals, and live chat support.
The Exness Terminal is the web version of the platform optimized for speed and flexibility. It offers one-click trading, customizable charts powered by TradingView, and a detailed portfolio area for tracking orders and account performance.
MetaTrader 4/5
Exness provides the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
MT4 is a versatile choice for traders worldwide, offering algorithmic trading, technical indicators, and secure data encryption. It supports multiple execution types and is available on web, desktop, and mobile phones.
MT5, ideal for traders seeking greater control and precision, can also be accessed through web, desktop and iOS/Android devices. It is built on MT4 with more advanced features including better analytical tools, hedging capabilities, and the MetaEditor for custom trading scripts.
Exness Fees Review
Exness offers competitive and transparent pricing across its trading instruments.
There are no management fees, no deposit fees, and no withdrawal fees, making it appealing for cost-conscious traders.
However, there are administration fees for overnight orders based on the instrument traded and the trading volume. The fees for Forex range from 5 USD to 75 USD per lot, 25 USD to 150 USD per lot for commodities, and 5 USD to 100 USD per lot for cryptos.
For stocks, fees start at 1 USD per lot for smaller companies and go up to 75 USD per lot for premium instruments like AVGO.
For the most updated details on these administration fees, you can visit https://get.exness.help/hc/en-us/articles/11415853845404-About-admin-fees-on-overnight-orders.
Forex Administration Fee
Commodities Administration Fee
Crypto Administration Fee
Indices Administration Fee
Stocks Administration Fee
To conclude, Exness' tiered administration fees provide flexibility while encouraging intraday trading. They are relatively competitive compared to other brokers, particularly for Forex and stock trading. However, for premium instruments like some commodities, cryptocurrencies and high-value stocks, the fees are quite high, reaching up to 150 USD per lot.
Though Exness excels in transparency and offers cost-effective options for many traders, those dealing heavily in high-fee instruments may find it less economical compared to brokers with flat or lower premium rates.
Compare to Similar Brokerages
The Bottom Line
In a word, Exness is a well-regulated broker with a formidable regulatory background supported by CYSEC, FCA, FSCA and FSA (offshore) in several countries. The segregated accounts and compensation fund insurance further protect customer funds. Beginners can opt for the Standard accounts with favorable trading conditions, while experienced traders can explore advanced possibilities through Professional accounts.
If you want to interact with other investors about experience with this broker, simply go to WikiFX, visit the specific page and start sharing your opinions and reviews.
