Exness is a well-known online forex and CFD broker that has been operating since 2008. With over 1 million clients worldwide, Exness aims to provide traders with competitive spreads, fast execution speeds, and flexible trading conditions.
As 2024 approaches, how does Exness continue to perform as a forex broker? Does it still offer the features and benefits that made it popular over the past decade? This detailed Exness review will provide an in-depth look at this broker’s offerings to determine if it’s a good choice for trading in 2024 and beyond.
Introduction to Exness
Exness is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. With regulation from tier-1 authorities, traders can feel confident in the broker’s safety and security of funds.
The company provides access to over 70 currency pairs as well as CFDs on stocks, commodities, indices, cryptocurrencies, and ETFs. Spreads are competitive starting from just 0.1 pips on the Razor account.
Leverage goes up to 1:30 for retail clients with available negative balance protection. The broker offers market, instant, and pending order execution with fast execution speeds.
Key Features
Here are some of the key features Exness offers traders:
- Competitive spreads from 0.1 pips
- Leverage up to 1:30
- Fast execution speeds under 30ms
- Negative balance protection
- No dealing desk execution
- Variety of trading platforms including MT4/MT5
- Automated trading supported
- Cryptocurrency CFD trading
- Account options for all trader types
- Low minimum deposit of $1
- Clients funds kept in segregated accounts
- Multilingual 24/5 customer support
With these features, Exness aims to provide clients with an efficient and convenient trading experience catered to their needs. Next, we’ll take a deeper look at the specific account options available at this broker.
Exness Account Types
Exness offers three main live trading accounts and a demo account. The key details of each are outlined below:
Demo Account
- Test trading strategies in a risk-free environment
- Reflects the features of the live Cent Account
- Get $100,000 in virtual funds
- Available on the MT4 and MT5 platforms
- No time limit on usage
The demo account is a great way for new traders to try out Exness and learn the platforms before depositing real money. It mimics the Cent Account type and has ample virtual funds for practicing different strategies.
Cent Account
- Minimum deposit of $1
- Spreads from 0.3 pips
- Leverage up to 1:30
- Commission-free trading
- Excellent option for newer traders
- Available on MT4 and MT5
The Cent Account is the starter account option with ultra-low costs. The reasonable leverage, low spreads from 0.3 pips, and lack of commissions makes this the ideal account type for beginner forex traders.
Mini Account
- Minimum deposit of $100
- Spreads from 0.1 pips
- Leverage up to 1:2000
- $3.5 commission per lot traded
- Designed for experienced traders
- Only available on MT5
For experienced traders seeking tight spreads, the Mini Account offers spreads from just 0.1 pips. There is a commission charge per trade, but the total costs are still very competitive. The high leverage caters to active short-term traders.
ECN Zero Account
- Minimum deposit of $200
- Spreads from 0 pips
- Leverage up to 1:30
- $3.5 commission per lot
- Direct market access conditions
- For high volume traders
- Available on MT4 and MT5
The ECN Zero is Exness’s premium account designed for high volume traders. Spreads can be as low as 0 pips during volatile market hours as clients get direct access to Tier 1 liquidity pools. The commission per lot is a bit higher than the Mini Account.
The selection of accounts provides trading conditions suitable for traders of all skill levels and activity preferences. You can open multiple accounts to test different strategies if desired.
Next, let’s look at the trading platforms and tools supported by Exness.
Exness Trading Platforms and Tools
Exness offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as its core desktop and mobile trading platforms. These platforms are packed with helpful tools and indicators for analysis and automated trading. Here are some platform highlights:
MetaTrader 4 (MT4)
- Advanced charting tools with 100+ indicators
- One-click trading from charts
- Expert Advisors for auto trading
- Customizable workspace and layout
- Available on PC, Mac, iOS, Android
- Support all account types except Mini Account
MT4 remains the most popular retail trading platform in the industry. Exness MT4 includes all the features traders expect, such as advanced technical analysis, Expert Advisors, and full customization.
MetaTrader 5 (MT5)
- Adds more indicators, timeframes, order types
- Analyze more markets like stocks and cryptos
- Economic calendar and sentiment tools
- Virtual hosting service for EAs
- Available on desktop, web, and mobile
- Supports all Exness account types
For traders seeking expanded analysis capabilities and multi-market access beyond just forex, MT5 is the platform of choice. It includes everything in MT4 plus more features and supported markets.
Trade Exness on Mobile
- iOS and Android apps for MT4 and MT5
- Monitor charts and trades on the go
- Intuitive mobile design and gestures
- Supports full mobile trading and analysis
- Get push notifications for price alerts
- Two-factor authentication for security
Exness offers full-featured apps for both MetaTrader platforms so traders can manage their accounts on mobile just as they would on desktop. The apps include robust analysis, trading, and security options.
Exness Copy Trade
- Automatically copy pro trader strategies
- Over 200 Strategy Managers to choose from
- Analyze performance stats and history
- Flexible settings for amount copied
- Works directly through your Exness account
- Great for new traders learning the markets
Copy trading is available directly through the Exness Web platform and their Copy Trade app. Traders can evaluate performance stats of over 200 Strategy Managers and subscribe to copy their trading in real-time with proportional amounts.
In summary, Exness provides industry-standard trading platforms with MT4 and MT5 that are packed with helpful trading tools. The platforms retain full functionality on mobile apps and are further complemented by the copy trading service.
Next, let’s take a look at Exness trading costs and see how they compare.
Exness Trading Costs and Conditions
Two of the most important factors for traders when choosing a broker are the trading costs and account conditions. Here is an overview of what Exness provides:
No Hidden Fees
Exness is transparent about its fee structure:
- Cent Account has no commissions, just the spread
- Mini and ECN Zero accounts have commissions per lot traded
- No markup on spreads, you see real market rates
- Swap rates clearly defined for holding positions overnight
- No withdrawal, maintenance or inactivity fees
With no hidden fees, you can calculate your total trading costs accurately. Cent Account traders only pay the spread, while commission accounts combine spread + commission per trade.
Competitive Spreads
- Average EURUSD spread is 0.4 pips on the Cent Account
- Mini Account offers spreads from 0.1 pips
- ECN Zero spreads can be as low as 0 pips
- No markup on spreads, direct market access
Exness advertises spreads as low as 0.1 pips and this is accurate based on client feedback. During volatile sessions spreads may widen slightly but remain competitive overall.
Commission Per Lot Traded
- No commissions on Cent Account
- $3.5 per lot traded on Mini and ECN Zero accounts
- Very reasonable commission rate for the tight spreads
The commissions charged on Mini and ECN Zero accounts are very reasonable compared to other ECN brokers. This helps keep overall trading costs low.
Ample Leverage Options
- Up to 1:30 leverage available
- Higher 1:2000 leverage on the Mini Account
- Leverage can be lowered if desired
- Margin requirements clearly stated
Leverage up to 1:2000 caters to active short-term traders. Lower leverage limits promote responsible trading. Margin requirements are clearly defined so you don’t get margin calls unexpectedly.
When combined with tight spreads and reasonable commissions, the trading conditions at Exness allow both casual and active traders to keep their costs low. Next, let’s discuss the range of markets and assets available to trade.
Exness Traded Markets and Assets
Exness offers trading on the following markets and asset classes:
70+ Forex Currency Pairs
- Major, minor and exotic FX pairs
- Includes top pairs like EUR/USD, GBP/USD, USD/JPY
- Also less traded pairs like USD/MXN, EUR/NOK, GBP/SGD
- Spreads as low as 0.1 pips during active trading
With over 70 currency pairs from majors to exotics, forex traders have extensive coverage of the foreign exchange market. Pairs quotes and spreads are provided directly from Tier 1 liquidity sources.
CFDs on Stocks and ETFs
- Trade popular stocks like Apple, Tesla, Amazon
- Short sell and leverage stock positions
- Also trade ETFs like SPY, QQQ, IWM
- Zero commission stock trading
- Tight variable spreads from 1 pip
In addition to forex, traders can speculatively trade stocks and stock sector ETFs. Hot stocks like Tesla are available along with key ETFs.
Commodity CFDs
- Trade commodities like gold, silver, oil
- Also softs like wheat, corn, coffee
- Energy futures like Brent and natural gas
- No commissions, just tight spreads
- Useful for portfolio diversification
Commodity CFDs provide additional diversification opportunities and exposure to common commodities like gold, oil, and softs.
Index and Crypto CFDs
- Speculate on major global indices
- Trade crypto coins like Bitcoin, Ethereum, Litecoin
- Hedge risks or diversify with indices/crypto
- Volatile markets with potential for gains
- Competitive spreads, no hidden fees
Index and crypto CFDs allow speculating on the short-term price movements of stock indices and popular cryptocurrencies like Bitcoin.
With this wide range of markets and assets, Exness traders can easily diversify their trading or specialize in specific markets they are most interested in.
Next, let’s look at the various order types and execution quality.
Exness Order Types and Execution
The order types, liquidity sources, and execution servers all contribute to the overall trading experience. Exness provides:
Instant, Market, Limit, Stop Orders
- Place basic instant orders with one click
- Market orders fill at the current market rate
- Limit orders set a price threshold to buy or sell
- Stop orders trigger market orders if price is hit
- All order types available on MT4/MT5 platforms
Exness supports the most common order types like instant, market, limit, and stop orders. These are all easily accessible in the trading platforms.
Aggregate Liquidity from 15+ Banks
- Direct access to Tier 1 institutional liquidity
- Quotes and spreads provided by 15+ banks
- See real institutional interbank market pricing
- Reduces likelihood of requotes and slippage
Tier 1 liquidity from over 15 banks ensures Exness clients see true market prices. This aggregates liquidity across various institutions to improve fills.
Fast Execution Speeds
- Average execution speed under 30 milliseconds
- Servers in London close to liquidity sources
- Regular maintenance helps keep speeds fast
- Crucial for short term traders and scalpers
With servers located in London close to liquidity providers, Exness is able to offer exceptionally fast execution speeds under 30ms. This caters to short-term traders.
The order types, liquidity sources, and fast execution all contribute to a high-quality trading environment at Exness. Slippage and requoting are minimized compared to dealing desk brokers.
Next, let’s discuss the various deposit and withdrawal options.
Exness Deposits and Withdrawals
Convenient and secure deposit and withdrawal methods are essential at any broker. Exness offers flexibility with multiple payment options:
Deposit Methods
- Bank wire transfer
- Credit/debit cards like Visa, Mastercard
- E-wallets including Neteller, Skrill, Fasapay
- Cryptocurrency via Coinbase
- Local bank transfers
- Online payment systems like Qiwi
You can fund your account via bank wire, credit card, popular e-wallets, cryptocurrency, and local bank transfers depending on your location and preference. This provides flexibility.
Fast Deposits and Withdrawals
- Deposits credited within 1 business day
- Bank wire withdrawals processed in 1-3 days
- E-wallet withdrawals within 24 hours
- No deposit or withdrawal fees
- Up to $500,000 daily withdrawal limit
Exness processes deposits and withdrawals promptly. Bank transfers take 1-3 days while e-wallets are processed same or next day. There are no fees on deposits/withdrawals.
Segregated Client Funds
- Client funds kept in segregated accounts
- Accounts held at AAA-rated institutions
- Cannot be used for broker operational costs
- Improves security of your money
By keeping client funds in segregated accounts at top-tier banks, Exness improves the safety and security of your money. Funds cannot be used for broker operations.
The quick processing times, variety of payment methods, and account segregation provide a positive experience for depositing and withdrawing funds from your account.
Next, let’s take a look at Exness regulation and safety practices.
Exness Regulation and Safety
When evaluating any broker, it’s important to understand their regulation and safety practices to ensure your money and data is secure:
Tier 1 Regulation in UK and Cyprus
- Authorized and regulated by the FCA (UK)
- Also regulated by CySEC (Cyprus)
- Complies with strict EU regulatory standards
- Provides greater accountability and oversight
Exness holds regulation from top-tier authorities in both the UK (FCA) and Cyprus (CySEC). These regulators enforce strict rules and oversight that gives clients confidence in Exness.
Segregated Client Funds
- Client funds kept in segregated accounts
- AAA-rated banking partners
- Accounts specifically for client money only
- Funds cannot be used by broker
- Improves security of funds
Segregating client funds from Exness’s own capital adds an extra layer of security and prevents funds being used for broker expenses.
Optional Secure Client Area
- Further protect account with 2FA login
- Control API access to account
- Review detailed account history
- Enhanced security monitoring
- Prevents unauthorized access
For added security, clients can enable the Secure Client Area which requires two-factor authentication to login and monitors API access.
Negative Balance Protection
- Risk management to prevent margin call gaps
- Guarantee against account deficits
- Cannot lose more than account balance
- Reduces black swan event risks
With negative balance protection, unexpected market gaps that trigger margin calls cannot push accounts into the negative. Losses are capped at your account balance.
Through top-tier regulation, account protections, and secure practices, Exness provides traders with the confidence and safety expected from a reputable broker.
Next, let’s examine the educational resources and customer support.
Exness Education and Customer Support
To help traders develop their knowledge and get assistance when needed, Exness offers:
Trading Academy Education
- Free structured video courses
- Covers forex basics to advanced topics
- Learn directly from industry experts
- Topics include technical/fundamental analysis
- Certificate of completion for courses
The Exness Trading Academy provides free forex trading education through structured video courses. Traders can learn everything from forex basics to advanced technical analysis.
Daily Market Insights
- Get fresh trading ideas and analysis
- Understand what’s moving markets
- Technical/fundamental outlooks
- Written by in-house experts
- Help find potential trade opportunities
For those looking for actionable insights, Exness publishes daily market analysis and trading ideas written by their in-house market experts.
24/5 Multilingual Customer Support
- Get help in English, Chinese, Indonesian, etc
- Contact support by phone, email, chat
- Dedicated account managers
- Knowledgable support staff
- Quick response times day and night
Exness maintains 24/5 multilingual customer support via phone, email, and live chat. Experienced account managers are also available for bigger clients.
Through the combination of education, daily analysis, and prompt support, Exness ensures clients have the right resources to develop as traders and get assistance when needed.
Next, let’s look at some independent reviewer feedback on using Exness.
Exness Reputation and Trustpilot Reviews
With a long operating history dating back to 2008 and over 1 million active traders worldwide, Exness has earned a largely positive reputation. Let’s examine some independent Trustpilot reviews:
4 out of 5 Stars on Trustpilot
- 1,200+ reviews for a 4 out of 5 rating
- 73% give Exness an “Excellent” rating
- 15% rate it as “Great”
- Shows largely positive client feedback
With over 1,200 reviews, Exness scores an overall 4 out of 5 rating on Trustpilot. The vast majority of reviews are positive based on actual client experiences.
Clients Praise Fast Execution
- Many mention the fast trade execution
- Helps them capitalize on short trends
- Excellent for scalpers and
Competitive Spreads and Conditions
- Clients mention the low spreads and costs
- Accounts easy to open with fast verification
- Makes Exness accessible to all trader levels
- Conditions allow solid risk management
The competitive spreads and smooth account opening process make Exness appealing for novice traders starting out. Conditions support responsible risk management.
Great Trading Platform Options
- MT4 and MT5 provide solid analysis tools
- Easy to customize platforms to preferences
- Smooth order execution from the platforms
- Reliable platforms for best experience
The MetaTrader platforms offered provide a customizable workspace with robust trading tools that clients mention working smoothly.
Responsive Customer Service
- Support quick to respond to issues
- Helpful for answering platform questions
- Provide guidance on account setup
- Experience of support staff appreciated
Many reviews highlight the responsive multilingual support team at Exness who help resolve issues promptly and provide useful trading guidance.
The vast majority of over 1,200 Trustpilot reviews showcase positive experiences with Exness in terms of trading conditions, platforms, and customer service.
Next, let’s summarize the key strengths and considerations of trading with Exness.
Exness Strengths and Considerations
Strengths
- Competitive spreads starting from 0.1 pips
- Fast average execution speeds under 30ms
- MetaTrader platforms supported with full features
- Educational and daily analysis resources
- Responsive multilingual customer support
Considerations
- Limited global physical presence
- Spread markup on weekends/holidays
- Higher commission per lot on ECN accounts
- Limited advanced platform features
Exness provides traders globally competitive spreads and fast execution through stable MT4/MT5 platforms. The brand offers ample learning resources and responsive support. Traders should be aware of minor limitations like spread markups occasionally and limited advanced trading tools on the platforms. But the core strengths in trading conditions, safety, and customer service make Exness a top choice for active traders.
Frequently Asked Questions
What is the maximum leverage at Exness?
Exness offers maximum leverage of 1:2000 on the Mini Account. Other accounts have a maximum of 1:30 leverage based on regulation. You can request lower leverage.
Does Exness offer negative balance protection?
Yes, Exness guarantees against account deficits with its negative balance protection. Unexpected losses cannot push your balance into the negative.
How do I deposit and withdraw funds?
Exness offers bank wire, credit/debit cards, e-wallets like Neteller, and cryptocurrency for deposits/withdrawals. Processing is generally 1-3 days with e-wallets faster.
Is there a minimum deposit?
The minimum deposit at Exness is $1 on the Cent Account making it accessible even for beginner traders starting with a small amount of capital. Other accounts have a minimum deposit of $100 or $200.
What trading platforms can I use?
Exness offers the popular MetaTrader 4 and MetaTrader 5 platforms. These are available on desktop, web, iOS, and Android. You can trade from charts, use EAs, and customize the platforms.
Conclusion
Exness retains its strengths as a reliable broker for forex and CFD trading in 2024. The combination of competitive spreads from 0.1 pips, fast execution, and robust MetaTrader platforms continues to make Exness a top choice for active traders globally. Add in responsive customer service and ample educational resources, and Exness provides an excellent trading experience catered to all trader types.
While the brand does have some minor limitations, the core trading infrastructure and conditions outshine most brokers. For traders seeking tight spreads, fast execution speeds, and advanced yet easy-to-use platforms, Exness delivers a compelling offering. The broker remains well positioned to provide clients globally a smooth trading experience as we move into 2024 and beyond.
Best and Most Trusted Forex Brokers
Based on regulation, award recognition, mainstream credibility, and overwhelmingly positive client feedback, these six brokers stand out for their sterling reputations:
| No | Broker | Regulation | Min. Deposit | Platforms | Account Types | Offer | Open New Account |
|---|---|---|---|---|---|---|---|
| 1. | RoboForex | FSC Belize | $10 | MT4, MT5, RTrader | Standard, Cent, Zero Spread | Welcome Bonus $30 | Open RoboForex Account |
| 2. | AvaTrade | ASIC, FSCA | $100 | MT4, MT5 | Standard, Cent, Zero Spread | Top Forex Broker | Open AvaTrade Account |
| 3. | Exness | FCA, CySEC | $1 | MT4, MT5 | Standard, Cent, Zero Spread | Free VPS | Open Exness Account |
| 4. | XM | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Micro, Zero Spread | 20% Deposit Bonus | Open XM Account |
| 5. | ICMarkets | Seychelles FSA | $200 | MT4, MT5, CTrader | Standard, Zero Spread | Best Paypal Broker | Open ICMarkets Account |
| 6. | XBTFX | ASIC, CySEC, FCA | $10 | MT4, MT5 | Standard, Zero Spread | Best USA Broker | Open XBTFX Account |
| 7. | Vantage | ASIC, CySEC, FCA | $50 | MT4, MT5 | Standard, Cent, Zero Spread | 20% Deposit Bonus | Open Vantage Account |
| 8. | FXTM | FSC Mauritius | $10 | MT4, MT5 | Standard, Micro, Zero Spread | Welcome Bonus $50 | Open FXTM Account |
| 9. | FBS | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Cent, Zero Spread | 100% Deposit Bonus | Open FBS Account |
| 10. | Binance | DASP | $10 | Binance Platforms | N/A | Best Crypto Broker | Open Binance Account |
| 11. | TradingView | Unregulated | Free | TradingView | N/A | Best Trading Platform | Open TradingView Account |
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