Exness Video Review
VIDEO Investor Protection & Regulations
“Investor protection at Exness is achieved by regulation, account verification and implementation of sound cyber-security protocols.”
As it has been already mentioned, Exness (CY) Ltd. and Exness (UK) Ltd. are regulated Companies. That means, these Companies have to adhere to the principles of the Directive 2014/65/EU on markets and financial instruments, commonly known as MiFID II, and its Delegated Regulations.
Being regulated by a European Union Regulator also means that through the passporting system you can provide financial services in any Member State country by having a license to operate in those countries.
Some examples of Exness (Cy) Ltd.’s licenses are:
Italy: Licensed with registration number 3765 by the Commissione Nazionale per le Società e la Borsa (CONSOB).
Spain: Licensed with registration number 3523 by the Comisión Nacional del Mercado de Valores (CNMV).
Additionally, these companies are members of the Investor Compensation Fund. The objective of the ICF is to secure claims of the covered clients against members of the ICF, through the payment of compensation in cases where the member concerned is unable, due to its financial circumstances and when no realistic prospect of improvement in the above circumstances in the near future seems possible.
More regulatory information on Exness (Cy) Ltd. and Exness (UK) Ltd. are found in the links below:
Regulatory information of Exness on the CySEC website can be viewed
here, and on the FCA online register here.
Exness UK Status on he FCA’s online register
Exness (CY) on CySEC’s Website
“Here is the comprehensive list of instruments available for trading on Exness’ platforms across currencies, metals and cryptocurrencies.”
– available at Exness (CY), Exness (UK) and Exness (Ltd) Metals
– available at Exness (CY), Exness (UK) and Exness (Ltd)
– available at Exness (Ltd)
BCHUSD (Bitcoin Cash)
Indices and stocks are not offered for trading on Exness.
Depending on the account type (and the Exness entity accordingly), trading on the EUR/USD starts from 0.0pips on ECN accounts (Exness (Ltd)) to average 0.7 pips on Classic account (available on all Exness entities), with commissions paid on trades on the ECN account. Trades on FX and CFDs on all other accounts are commission-free.
“Open a Classic, Mini or ECN Account on Exness with accordance to the Exness entity you trade with.”
The types of account available with Exness depend on the trading platform selected as well as the entity to which a client applies.
MT5 Account Types
– available with Exness (Ltd) only
Traders can open Classic or Mini accounts with Exness MT5.
The Classic account attracts a $2000 account deposit minimum and leverage allowed can get to a maximum of 1:2000. Spreads are as low as 0.1pips. For the Mini account, a minimum deposit of $1 is set, with a maximum leverage of 1:2000 and spreads as low as 0.3 pips.
Types of MT4 account
“Four types of live accounts are featured on Exness for the MT4 platform: Cent, Classic, Mini, and ECN.”
Mini – available with Exness (Ltd) and Exness (CY) only
Mini account holders are offered the same specifications as the MT5 counterparts: a minimum deposit of $1 is set, with an unlimited leverage and spreads as low as 0.3 pips. The difference is that Unlimited Leverage is available for MT4 Mini accounts with Exness (Ltd) under certain conditions.
Mini account holders are required for the same min deposit and spreads as in Exness (Ltd) but are offered an up to 1:30 leverage.
Classic – available on all of Exness entities
Exness (Ltd) & Exness (CY)
MT4 Classic accounts for these entities have a minimum deposit of $2000 and spreads are as low as 0.1 pips. MT4 Classic accounts under Exness (Ltd) can access Unlimited Leverage under certain conditions, while those under Exness (CY) have the same limitations as CY MT4 Mini accounts.
UK MT4 Classic accounts have a minimum deposit of $500 and spreads from 0.4 pips. Leverage rules are the same as CY MT4 Mini and Classic.
ECN Account – only available on Exness (Ltd)
The ECN account has a maximum leverage of 1:200, spreads as low as 0.0 pips and commissions on trades of up to $25. Minimum deposit is $300.
Cent Account – only available on Exness (Ltd)
The Cent account has a minimum deposit of $1, unlimited leverage and spreads that start from 0.3 pips. Trading is commission-free.
Exness’ Cent account is unique in that volumes on this type of account are 1% of standard volumes. For example, 0.1 Cent lot of EUR-USD is worth €100 instead of €10,000.
Traders also have access to a free and unlimited demo account. Fill the demo account opening form (shown below) to create your login details.
The same form can be filled on the live account opening page to create a real account.
Once you have downloaded and installed the Exness MT4 on your platform, you can proceed to login with your demo account details, or login using your real account details.
Choose the appropriate server in the drop-down menu from the dialog box that appears on your screen.
The Exness brand is not available worldwide as a result of certain nationality restrictions. Below is a table of restricted countries by entity:
AF, AS, AU, BA, BE, CA, CG, ET, GB, GU, GY, IL, IQ, IR, JP, KP, LA, LY, MP, MY, NZ, PK, PL, PR, PS, QM, QW, SG, SO, SS, SY, TN, TR, TT, UG, US, VA, VC, VE, VI, VU, YE, XB, XH, XL, XM, XQ, XU, XV
AF, AS, AU, BE, BI, BY, CA, CD, CF, CG, EG, ER, ET, GN, GU, GW, IL, IQ, IR, JP, KP, LB, LY, MP, MY, NZ, PK, PR, PS, QM, QW, SD, SG, SO, SS, SY, TN, TR, UA, UG, US, VA, VC, VE, VI, VU, XB, XH, XL, XM, XQ, XU, XV, YE, ZW
AD, AS, AT, AU, AX, BA, BE, BG, CA, CH, CW, CY, CZ, DE, DK, EE, ES, ET, FI, FR, GB, GF, GI, GP, GR, GU, HR, HU, IE, IL, IR, IS, IT, IQ, JP, KP, LI, LT, LU, LV, MC, MF, MP, MT, MQ, MY, NL, NO, NZ, PL, PR, PS, PT, QM, QW, RE, RO, SE, SG, SI, SK, SM, SO, SS, SY, US, VA, VC, VU, XB, XH, XM, XL, XQ, XU, XV, YE, YT
Exness is compliant with all globally recognized KYC-AML protocols. No third-party financial transactions are allowed, and account owners must be identified and verified before they can trade. Account holder verification (Know Your Customer or KYC) is performed by submitting a government-issued ID (national ID card, international passport or driver’s’ license), and a proof-of-address document such as a utility bill or bank statement. Certain countries may have additional requirements.
Deposit & Withdrawals options
“Exness offers up to 35 methods of deposits and withdrawals including cards, bank wires and e-wallet options.”
Exness offers up to 35 methods of making deposits and withdrawals. With such a wide array of payment methods, it is easy to transact with the company. Here are the deposit and withdrawal methods offered by Exness according to the different entities.
Credit/debit cards: Only cards issued by
Visa and Mastercard can be used with Exness. Deposits are usually processed instantly and withdrawals typically take 3-5 working days. This method is available with all Exness entities.
Bank wire comes with a processing time of 3-5 days. These are available to all Exness (CY and UK) traders.
E-wallet methods such as Skrill, Neteller, Perfect Money (Exness Ltd only) and WebMoney (Exness Ltd only) are available. Transactions are usually processed instantly for these methods.
Bitcoin can also be used to deposit or withdraw funds with Exness Ltd only.
A variety of local payment methods specific to China, Thailand, Vietnam and other countries can also be used for Exness Ltd.
The commission on deposit & withdrawal depends on the payment systems used and not the entity.
Exness also permits traders to store their account capital in any of 80 different fiat currencies, as well as in the specialized metal-currency accounts.
Metal-currency accounts are a creation of Exness which pairs certain major fiat currencies with precious metals such as gold, silver, palladium and platinum. Metal-currency accounts are available only at Exness Ltd.
Web & Desktop Trading Platforms
“Trade FX and CFDs using the various versions of the Exness MT4 or MT5 platforms.”
Exness offers its traders the opportunity to trade FX and CFDs using the MT4 or MT5 platform depending on the Exness entity they trade with. MT4 is available on all of Exness entities and MT5 is available with Exness (Ltd) only . Each of these platforms comes in the desktop and mobile versions. A Multi-terminal is also offered for multiple account managers.
The desktop client has versions for Windows and Mac computers. After downloading the platform, the trader is expected to enter either the live account details or the demo account details created on the Exness’ website.
Considering that support for the MT4 will soon be suspended by Metaquotes, we look at MT5 and outline some of its benefits here.
Expanded time frames.
Order for programming services on the MQL Community website directly from the platform.
Depth of market.
Fill or Kill (FOK) order fulfilment option.
The mobile versions of the Exness MT4 and MT5 are available on the App Store and Google Play stores. Exness’ MT4 and MT5 platforms are easy to use and suitable for all levels of traders.
Privacy & Security
“Protection through 2FA and Email confirmation”
Exness provides security of accounts and transactions using a number of means.
To protect login information, Exness has implemented a 2-factor authentication protocol (2FA). This means that traders have an extra step of security, either mobile or through email, to protect their accounts. Exness has developed optimal systems and security methods for keeping trading accounts safe. The security system identifies the account owner using special policies, so financial operations on a trading account can only be performed by the account owner him/herself.
Exness maintains clients’ funds in segregated accounts. This means that funds of clients for trading are separated from Exness’ own operating funds.
Protection of users’ data is done using cyber-security protocols that encrypt all such data transmitted to the database of Exness during account opening or other processes that demand the provision of login details.
Mobile Trading Platforms
Exness offers MT4 (all Exness entities) and MT5 (Exness Ltd only) mobile apps for iOS and Android devices. These mobile apps have undergone significant improvements over the years and now have enhanced features.
Here’s what you get with the MT4/MT5 mobile apps:
Fully interactive candlestick and bar charts with as many as 9 time frames.
Complete trading history and order suite.
Customizable chart display with multi-window mode.
Enhanced number of technical indicators (up to 30).
Easy viewing of prices and trading.
Free financial news.
Exness offers its clients a mobile application that allows them to manage various functions in their accounts and perform a number of other actions.
Installing the app on either an Android of iOS device is straightforward, as is logging in to a trading account or opening a new demo account. When a trader opens the app, they initially see options to trade, deposit and withdraw.
Tapping ‘Trade’ takes the user to a chart with most of the same features as desktop platforms, including stops and options to modify and close windows.
In addition to the three options at the top of the homescreen, a trader can choose to read analytical content from Trading Central within the app.
Combined with options to deposit and withdraw plus an integrated live chat client, Exness’ mobile app presents traders with everything required to manage their accounts on the move.
For most traders, Exness’ app should be a useful feature of this broker’s offering.
Note that this app is only available for clients of Exness Ltd.
“Exness offers an expanded list of trading indicators through the MT5, Depth of Market window, VPS, trading calculators, and technical analysis.”
The Exness MT5 offers traders the following trading features:
Expanded number of indicators: 15 momentum indicators, 13 trend indicators, 6 Bill Williams indicators and 4 Volume indicators. Altogether, there are 38 indicators.
The MT5 also contains a Depth of Market window, which shows the net volume of positions on the buy and sell sides of the market. This is an additional feature not implemented in the MT4.
Specialized tools and objects for charting e.g. Fibonacci tools, Gann lines/fans, line tools, etc. In addition to these existing features, graphical objects have also been added.
You can now find out the highest and lowest bid/ask prices in the market for any instrument at any given time. If you trade large volumes, this information can help you save money from entries made at less advantageous prices.
You can now find out the highest and lowest BID/ASK prices in the market for any asset at any given time. If you trade large volumes, this information can literally help you save some good money from entries made at better prices.
If you are trading with the Exness MT4 Multi-terminal, you will see a dialog box which displays a form. With this form, you will be able to add new accounts to your portfolio.
The MT4 Multiterminal helps you trade accounts simultaneously. A single placed order is executed on all accounts, and you are able to properly allocate trade sizes to all accounts prior to execution.
The MT4 terminal itself has some features worthy of note. You can signup for a live trading account from the executable file’s interface while it is being unpacked after download.
Choose from either the demo server or the Live server. When trading a real account, you can choose from several server options from the Login icon on the bottom right of the chart.
Here are some other tools that are provided by Exness:
Exness’ VPS is provided free of charge to traders which have a total deposit at least $500 in a real account, and have at least $100 in free margin during the period when they request for VPS. At other points in time, it doesn’t matter how much they have in the account.
Technical analysis provided via Trading Central’s WebTV.
Forex calculators (margin calculator, pip calculator and currency converter).
Commissions & Spreads
“EUR/USD benchmark spreads start at just 0.1 pips.”
Exness’ spreads are variable, with spreads on EUR-USD being the lowest. A note has been made previously on the lowest spreads for each type of account.
Spreads for forex and CFDs on Exness ECN accounts
*These figures are all according to the broker’s website at the time of writing.
The lower figure is the minimum the higher one is the average.
**Note: Exness refers to 0.1 pips as 0.00001 points.
Bonus & Promotions
“Promotions are available at the Exness (Ltd) only. Promotions are offered from time to time as well as trading contests. Exness (CY) & Exness (UK) does not offer any bonuses or promos.”
Bonuses on Exness are exclusively offered by Exness Ltd. There are no bonus offerings from Exness (CY) & Exness (UK).
Typically Exness (Ltd) offers seasonal bonuses according to the occasions marked and celebrated by its clients around the world. These include New Year bonuses (Gregorian and lunar) and bonuses around Eid al-Adha in various Muslim countries as well as bonuses during Hindu and Buddhist festivals.
Other promotions are run from time to time by Exness. There is no schedule attached to these promotions and they are run at the broker’s discretion.
“Get access to customer support in 14 languages across Live Chat, phone, email, and social media.”
Customer support on Exness is multilingual. It features customer support agents who provide support in 15 languages (English, Russian, Chinese, Hindi, Farsi, Urdu, Vietnamese, Indonesian, Arabic, Thai, Bengali, Malay, and Tamil) via:
Live chat. English and Chinese live chat is available 24/7.
Phone: +357 25 030 959 (Exness Ltd and Exness CY), +44 800 014 8528 (Exness UK)
email@example.com m (Exness Ltd) and firstname.lastname@example.org (Exness CY), email@example.com (Exness UK) Social media
Callback Request Tab.
It took less than 20 seconds to get a response from the live chat channel. Even when the support staff had to take a break to get some information for the reviewer, it took less than a minute to get the answer from the live chat representative. This proves that Exness has a very fast customer support response time as far as the Live Chat facility is concerned.
The social media channels also provide responses within a business day. Email communication is also fast: a response was obtained within 2 hours. Callback requests are attended to within a few hours. Support was generally helpful and courteous.
“There are limited research tools available on Exness, but technical analysis is provided on the platform through Trading Central.”
All traders on Exness are provided Trading Central’s technical analysis on WebTV. There is also a technical analysis indicator which can be downloaded as an add-on to the trading platforms.
For traders who test strategies, Exness provides a Tick History, which is crucial for effective strategy testing. Exness seems to be the only brokerage that provides access to this information.
For traders who conduct strategy testing, Exness provides a Tick History, which is crucial for effective strategy testing. Exness seems to be the only brokerage that provides access to this information.
“Poor educational materials available through the website.”
Exness does not have a good trader educational suite. There isn’t a lot of material for new traders to use in their training, and this is one area where Exness needs a lot of improvement.
“Exness’ MT4 (in all Exness entities) and MT5 (on Exness Ltd only) platforms provide a good trading experience for traders at all levels.”
Exness MT4 and MT5 provide simplicity of use and a visually appealing interfaces. Traders can access the critical functions of trading at the click of a mouse button.
Where is Exness based?
The Exness brand operates out of Cyprus and the UK.
How does Exness make money?
Exness makes its money from spreads and negative swaps (on all entities, although swap-free accounts are available) as well as commissions on trades done with ECN accounts (Exness Ltd only).
How do I deposit in an Exness account?
The options vary depending on which entity you trade with.
Exness Ltd – you can deposit funds using credit/debit cards, various e-wallet options as well as Bitcoin. There are also a number of local payment systems that can be used by clients from certain countries.
Exness CY and Exness UK – you can also use credit/debit cards, Neteller, Skrill, and wire transfers.
What is the min. deposit for Exness?
The minimum deposit also depends on the account entity. It starts from $1 in a Mini account with Exness Ltd.
What is the max leverage offered by Exness?
Maximum leverage is initially 1:2000 for various account types with Exness Ltd. Under certain volume-based conditions, traders with Exness Ltd can access Unlimited Leverage. Exness CY and UK have a maximum leverage of 1:30 to conform to ESMA’s rules.
How do I open an account with Exness?
On Exness’ website, mouse over ‘Trading’, then click ‘Open trading account’ and fill in your details on the page that appears.
Does Exness use MetaTrader?
Yes, Exness offers the MT4 (Exness CY, Exness UK & Exness Ltd) and MT5 (Exness Ltd) platforms (desktop, webtrader and mobile).
Exness provides an appropriate array of forex pairs and account options for traders looking for MT4 and MT5 from an EU-regulated broker. Limited analysis and research are available through the platforms. Customer service is fast to respond and additionally there is a Help Guide which can help new traders enhance their knowledge of how Exness works.
However, improvements need to be made in terms of core trader education. There is really nothing gained by teaching traders how to use the website and the platform, and leaving them bereft of material that will at least teach them some forex basics.