Exness is a popular online forex and CFD broker known for its low trading costs, high leverage, and availability to traders worldwide. But how does Exness compare to other leading forex brokers?
In this comprehensive Exness review, we’ll cover everything you need to know about trading with Exness, including:
- Company Overview
- Account Types
- Trading Platforms
- Spreads and Commissions
- Leverage Options
- Deposits and Withdrawals
- Customer Support
- Safety and Regulation
- Pros and Cons
By the end you’ll have all the key information to determine if Exness is the right forex broker for your needs.
Exness was founded in 2008 and is regulated in several jurisdictions including the UK’s Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CySEC).
The broker serves clients globally from its offices in Cyprus, UAE, Indonesia, Vietnam and Malaysia. Exness has grown rapidly over the years and now processes around 60 billion trades per month.
Some key facts about Exness include:
- Over 4.2 million clients from 196 countries.
- 12 language options for their trading platforms and support.
- Over 250 tradable instruments including 160+ currency pairs and CFDs on stocks, commodities, indices and cryptos.
- Consistently low spreads from just 0.1 pips on Razor account.
- High leverage up to 1:3000 available.
- Multiple award winner including “Best Forex Broker” at the UK Forex Awards 2021.
Next let’s look at the account options available at Exness.
Exness offers three main account types suited to traders at different experience levels. The key features of each are outlined below:
- Minimum deposit – $1
- Spreads from 1.2 pips
- Leverage up to 1:30
- For beginner traders looking to start small
- Minimum deposit – $200
- Spreads from 0.4 pips
- Leverage up to 1:2000
- Well-suited to retail traders
- Minimum deposit – $200
- Raw spreads from 0.1 pips + commission
- Leverage up to 1:3000
- Advanced trading features
- For high volume and professional traders
The Cent account allows you to start trading in a risk-free environment with minimal capital. It’s a great option if you’re new to forex trading.
The Mini account offers tight spreads and higher leverage for active traders looking for a good balance of trading conditions and risks.
The Razor account features raw spreads from 0.1 pips combined with a small commission per lot traded. This account is ideal for high frequency algo-traders and scalpers seeking the lowest trading costs.
Overall Exness provides trading conditions suitable for all trader types. Next we’ll see how their trading platforms compare.
Exness offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms developed by MetaQuotes.
Both platforms come equipped with advanced charting, technical indicators, Expert Advisors (EAs) for auto trading, and copy trading functions. Key features include:
- Advanced charting capabilities
- 50+ technical indicators and analysis tools
- MQL4 programming language to build Expert Advisors (EAs), scripts and custom indicators
- Virtual Private Server (VPS) hosting available for uninterrupted trading
- Everything in MT4 plus…
- Additional 45+ technical indicators
- Built-in economic calendar
- Stock trading, not just forex
- Multiple chart types including candlestick, hollow candlestick, heuristic triple candlestick
The MetaTrader platforms are available on desktop, web, and mobile so you can trade from anywhere. Expert advisors can run unattended on a Virtual Private Server (VPS) for uninterrupted algorithmic trading.
For copy trading, Exness supports MT4 copy trading via their Partner account. This lets you automatically copy trades from vetted strategy managers.
Overall Exness provides a suite of robust trading platforms that will satisfy most traders. Next let’s compare their spreads and commissions.
Spreads and Commissions
Exness is known for having low spreads which help save on trading costs, especially for high frequency traders. Here are the typical spreads for the three main account types:
- EUR/USD spread: from 1.2 pips
- Fixed spreads
- EUR/USD spread: from 0.4 pips
- US30 spread: from 4 pips
- XAUUSD spread: from 0.04 pips
- Variable spreads
- EUR/USD spread: from 0.1 pips
- Plus $3 per lot commission
- Raw variable spreads
These are very competitive spreads compared to other mainstream brokers. The commissions on the Razor account are volume-based from $3 down to $1.5 per lot as your monthly volume increases.
Active traders can benefit from the lowest spreads on the Razor account starting from just 0.1 pips. While casual traders can enjoy still very reasonable spreads on the Cent and Mini accounts.
One area where Exness stands out is providing very high leverage levels up to 1:3000, much higher than many regulated brokers.
The maximum leverage available on each account is:
- Cent account: up to 1:30
- Mini account: up to 1:2000
- Razor account: up to 1:3000
High leverage amplifies your trading power but also increases risk of losses if the market moves against you.
It’s important to choose a leverage amount in line with your risk tolerance and account size. Exness allows you to select your desired leverage on a per trade basis.
Regulators cap leverage at 1:30 for retail clients. But Exness can offer higher leverage by operating through jurisdictions with less restrictions like Mauritius and Seychelles.
Overall the high leverage at Exness will appeal to traders looking to maximize their trading positions. But use leverage wisely keeping account size and risks in mind.
Next we’ll compare the deposit and withdrawal options.
Deposits and Withdrawals
Exness offers a good selection of payment methods to fund your account in a convenient currency.
- Bank wire transfer – USD, EUR, GBP
- Credit/debit cards – USD, EUR, GBP
- Skrill, Neteller, FasaPay – USD
- UnionPay, Yandex – RUB
- Qiwi, WebMoney – USD, RUB
- Cryptocurrency – Bitcoin, Ethereum
Most deposit options are fee-free with funds credited within 1 business day. Cryptocurrency deposits are credited within 15 minutes.
The minimum deposit is $1 on the Cent account and $100 for the Mini and Razor accounts.
- Bank wire – USD, EUR, GBP
- Debit/credit cards – USD, EUR
- E-wallets – Skrill, Neteller, FasaPay, Qiwi, Yandex
- Cryptocurrency – BTC, ETH, USDT
Exness doesn’t charge fees for any withdrawal options.
Bank wire withdrawals are processed within 1-3 days while e-wallets and crypto are completed same day. The minimum withdrawal amounts are reasonable at just $1 across all methods.
Overall Exness provides a satisfactory selection of deposit and withdrawal options for clients globally. Next let’s discuss their customer support.
Exness aims to provide support whenever clients need it with multilingual service available 24/5.
You can get in touch with their support team through the following channels:
- 24/5 Live chat in the Exness Trader Cabinet
- Email support in 12 languages
- Phone numbers in the UK, Cyprus, Indonesia and Malaysia
Support is available in:
Exness also provides an FAQ knowledgebase and trader community forum for self-help.
User feedback towards Exness customer support is generally positive. They provide quick turnaround times and knowledgeable assistance in a wide range of languages.
Safety and Regulation
Is Exness safe for trading? Here are the key facts about regulation and safety of funds:
- Exness is regulated by the FCA (UK), CySEC (Cyprus), FSA (Seychelles) and FSCA (South Africa)
- Client funds are segregated from company funds at top-tier banks
- Negative balance protection guarantees you cannot lose more than your account balance
- Member of the Investor Compensation Fund which covers eligible clients up to €20,000 per person
- Complies with strict data protection and privacy regulations like GDPR
Exness also employs the latest IT security to keep client data and funds safe. This includes encrypted data transfer, secure protocols, and regular penetration testing.
Overall Exness appears to take compliance and security seriously to instill confidence in their traders.
Pros and Cons
Let’s summarize the main advantages and any disadvantages of trading with Exness:
- Ultra low spreads from 0.1 pips
- Leverage up to 1:3000 available
- Wide selection of trading platforms including MT4/MT5
- Automated trading supported via EAs and copy trading
- Fast deposit and withdrawal processes
- Multilingual 24/5 customer support
- Regulated broker with segregated client funds
- Limited educational resources for beginner traders
- Higher leverage entails greater risks if used improperly
- Cannot accept US-based traders
As shown in this Exness review, they deliver a competitive trading experience across multiple areas from low fees to great platforms and customer service.
The high leverage rates give traders more power but require extra caution. Overall Exness is best suited to experienced traders seeking maximum leverage and fast execution at low costs.
Below are answers to some commonly asked questions about trading with Exness:
Is Exness regulated?
Yes, Exness holds regulation licenses from top-tier authorities like the UK’s FCA, Cyprus CySEC, Seychelles FSA, and South Africa FSCA. Complying with strict standards helps assure traders their funds are secure.
Is Exness reliable?
Exness is regarded as a reliable broker based on their regulatory status, 10+ years in business, and generally positive customer feedback. They take appropriate measures to protect client funds and data.
What trading platforms does Exness offer?
The main platforms are MetaTrader 4 and MetaTrader 5. These allow advanced charting, EAs, algo-trading, copy trading and mobile app access. Exness also offers a web platform option.
Does Exness accept US clients?
Unfortunately Exness does not currently accept clients from the United States based on their regulatory restrictions. Other suitable brokers for US residents include Forex.com, OANDA and IG.
How long does KYC verification take?
The KYC verification process typically takes 1-2 business days. Submitting high quality documents and responding to any queries from their team can help speed up the account approval.
How much is the minimum deposit?
The minimum deposit is just $1 if you open a Cent account. For the Mini and Razor accounts it is $200 and $100 respectively.
Exness excels at offering trading conditions tailored to different account tiers from beginners to active traders. Their ultra-low spreads from 0.1 pips, high leverage up to 1:3000, fast trades execution, combined with MT4/MT5 access are standout features.
While they don’t accept US clients, Exness undoubtedly provides a top-class trading experience for clients across their other 196 supported countries.
Overall our Exness review found they deliver a competitive trading product at affordable rates. Just be mindful of the risks if using their highest leverage levels.
Open your Exness account today to benefit from their market-leading trading conditions and make your money work harder.
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