Exness Review 2024

Trust

Exness Regulators

• Exness (UK) Ltd. is regulated by the UK Financial Conduct Authority (FCA), register number 730729. We rate the FCA as a Tier-1 regulator.
• Exness (Cy) Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12. We rate CySEC as a Tier-1 regulator.
• Exness (KE) Ltd. is authorized by the Capital Markets Authority (CMA) in Kenya with license number 162. We rate CMA as a Tier-2 regulator.
• Exness (SC) Ltd. is authorized and regulated by the Seychelles Financial Services Authority (FSA) with license number SD025. We rate the FSA as a Tier-3 regulator.
• Exness (VG) Ltd. is authorized by the British Virgin Islands Financial Services Commission (FSC) with registration number 2032226 and investment business license number SIBA/L/20/1133. We rate the BVI FSC as a Tier-3 regulator.
• Exness B.V. is regulated by the Central Bank of Curaçao and Sint Maarten with license number 0003LSI. We rate the Central Bank of Curaçao and Sint Maarten as a Tier-3 regulator.
• Exness ZA (PTY) Ltd is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa as a Financial Service Provider (FSP) with FSP number 51024. We rate FSCA as a Tier 2 regulator.

Why is It Important to Know Where Your Broker Subsidiary (Entity) is Regulated?

To serve clients worldwide, brokers must have multiple regional entities. The level of client protection guaranteed by regional regulators varies widely. Here are some of the key features to check on at your broker`s regional entity:

• Segregation of client funds. Segregating client funds from the operating capital of a broker prevents misuse, ensuring that traders’ funds can not be used for operational expenses or speculative investments. At Exness, all client funds are held in segregated accounts away from the company’s funds.
• Negative balance protection. This guarantees that clients cannot lose more than their account balance, even if the market unexpectedly makes a massive move or gaps. All Exness entities provide negative balance protection.
• Compensation scheme. As a member of the Financial Commission, Exness ensures clients are protected up to €20,000 per complaint.
• Maximum leverage. Limiting leverage controls the level of risk traders can take on. The higher the leverage, the higher the potential profits and losses. The default maximum leverage at the Seychelles entity of Exness is 1:2000.

The table below covers the client protections at each entity:

Regulatory requirements are subject to change. I gathered the data listed above in March 2024.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we evaluate the broker’s longevity in the industry, the company’s size, and its transparency.

Exness dates back to 2008, marking it as a highly experienced CFD broker with a lengthy operating history. According to the broker’s LinkedIn page, the company has 1,001-5,000 employees, reflecting a large brokerage firm.

In my research, Exness showed high transparency in its regulatory status, listing its regulators in the website page’s footer.

The website breaks down trading costs clearly on the Fees page. To get the nitty gritty details, traders can find the Customer Agreement on the Legal Documents page.

Is Exness Safe to Trade With?

Exness operates seven entities, with two licensed by top-tier regulators, offering relatively high account security. The other entities are overseen by second or third-tier regulators. The level of protection varies by entity.

For instance, clients with a UK entity enjoy a high level of regulatory scrutiny and are covered by a compensation scheme in the event of broker insolvency. On the other hand, Exness’ offshore entity is subject to different regulatory oversight.

Exness is a member of the Financial Commission – an independent self-regulatory organization and external dispute resolution body, dedicated specifically to Forex. Exness clients are protected by the Commission’s Compensation Fund for up to €20,000.

To summarize, I rate Exness as moderately trustworthy and stable due to the following:

• 16-year operating history
• Multi-asset broker
• All entities segregate funds
• All entities offer negative balance protection
• Financial Commission membership

Fees

Exness Trading Fees

Exness Spreads

I tested the spreads at Exness across various markets during the London open and after the New York open. At these times, the market is typically highly liquid with the tightest spreads.

My tests showed that spreads are competitive in gold and oil but quite wide in forex crosses like GBP/JPY. I recorded the data on 6 March 2024.

Exness Swap Fees

Exness does not charge swap fees for most instruments, including forex majors, crypto, indices, and gold.

Exness Non-Trading Fees

Exness does not charge deposit or withdrawal fees (some payment providers may charge their own fees). However, an inactivity fee may be applied under specific circumstances.

Are Exness Fees Competitive?

I rate the fees at Exness as average for the following reasons:

• Variable spreads
• No swap fees on most instruments (terms and conditions apply)
• No deposit or withdrawal fees (some payment providers may charge their own fees)

Platforms and Tools

Exness Platform Walkthrough

Exness Terminal Platform

General Ease of Use

In this review, I tested the Exness Terminal platform, which has a basic, uncluttered interface, making it easy for beginners to navigate. Customization is limited, but it is possible to enlarge the chart by hiding the watchlist and trade panels.

The platform is available in 17 languages – Arabic, Bengali, Burmese, Simplified Chinese, English, French, Hindi, Indonesian, Japanese, Khmer, Korean, Lao, Portuguese, Spanish, Swahili, Thai, and Vietnamese.

Key Features

Here are the key features of the Exness Terminal platform:

• Watchlists: The Exness Terminal has watchlists broken down by asset class, popular instruments, and top movers.
• Charting: Robust charting from TradingView is built-in.
• Standard Orders: Traders can use market, limit, and stop-loss orders.
• Position Tracking: You can easily stay on top of the live P/L of your open positions, pending orders, and closed trades within this section.
• One-Click Trading: This feature allows you to execute orders with a single click and no secondary confirmation, enabling you to be more speedy and nimble. This is especially useful for day traders.
• Price Alerts: This enables you to be notified when the price reaches a pre-set level.

Using watchlists in the Terminal platform, traders can view lists of instruments broken down by asset class and other useful lists like top movers and popular instruments.

I find that price alerts are a great way to be notified when the price reaches key support and resistance levels, freeing you up from continuously watching the screen.

Traders can access award-winning analysis from Trading Central without leaving the platform.

The Trades panel at the bottom allows traders to easily follow their open positions, pending orders, and closed trades.

Charts

The Exness Terminal platform features TradingView charts, which, in my view, are first-class. Charts feature:

• 100+ Technical Indicators. These include classic trend indicators, volume indicators, and oscillators.
• 50+ Drawing Tools. These include trend lines, channels, Gann, and Fibonacci tools.
• 9 Time Frames. Traders can choose from nine time frames – from one minute to one month.
• 12 Chart Types. Traders can use everything from popular Bar charts and Japanese Candlesticks to more exotic Heikin Ashi charts.

Orders

The Exness Terminal platform offers standard order types like market orders, limit orders, and stop-loss orders. Trailing stop loss orders are not available, and applying time-in-force conditions to orders is impossible.

My Key Takeaways After Testing the Exness Terminal Platform

After a few weeks of testing, I found the Exness Terminal platform intuitive, well-crafted, and very user-friendly. Active traders will appreciate features like 1-click trading and trading from the chart. I appreciated the incorporation of Trading Central and price alerts.

However, the platform has its limitations – for instance, it does not currently allow for the creation of custom watchlists, lacks advanced order types, and offers limited customization of the layout.

Exness Mobile App

Available for iOS and Android, the Exness Trade app provides access to over 200 instruments. The app has a user-friendly interface designed specifically for beginners. Instant deposits and withdrawals and 24/7 customer support are available via the app.

Charting within the app features 12 chart types (line and candle), nine timeframes (M1, M5, M15, M30, H1, H4, D1, W1, MN1), and many indicators such as Moving averages, Bollinger Bands, and Parabolic SAR.

Order types within the app include market orders and pending orders, such as limit orders and stop loss orders. The Exness Trade app also features an economic calendar, market news, and trade ideas from Trading Central.

Social Trading

Within the client portal, traders can access the Social Trading platform, enabling them to copy the trades of successful traders (strategy providers). Experienced traders can share their strategies, allowing others to replicate their trades.

Both the trade copier and the strategy provider can earn from profitable trades. The trade copier uses the platform to find a strategy provider to follow. When the strategy provider makes a profit, they earn a commission from 0%–50%.

Exness Order Execution Model

Exness is a non-dealing desk broker. It either takes the other side of the client’s trade or transmits orders for execution to a third party – known as Straight Through Processing, or STP.

Tradable Instruments

Exness performs above average in all asset classes, with the exception of shares, where there is room for improvement.

What are CFDs?

A Contract for Difference (CFD) is an agreement specifying that the buyer must pay the seller the difference between the current value of an asset and its value at the time the contract was initiated.

CFDs allow traders to speculate on price movements like futures and other derivative financial instruments without owning the underlying asset.

What Can You Trade with Exness?

In the tables below, you can see a selection highlighting the variety of CFD instruments available at Exness:

My Key Takeaways After Exploring Exness Tradable Instruments

Exness offers a very strong selection in forex, commodities, indices, and cryptocurrencies, affording clients opportunities with a greater variety of markets at their fingertips. CFDs on shares are relatively limited, and I would like to see more global exchanges added to the mix.

Customer Support

Exness Customer Support Test

Support is a key component of a broker’s offering – whether you are a new trader looking for guidance on how to use the platform or an experienced trader who needs help fast to exit their positions in the event of a technical glitch.

I tested Exness’ customer support for over two weeks. The live chat usually responded within a minute. I also received fast replies via email.

My inquiries ranged from basic questions about fees to more complex themes relating to platforms, tools, and regulations. When I reached support via chat and email, I usually had a good experience with satisfactory answers to my queries.

Deposit and Withdrawal

Exness Deposit Methods

The range of funding methods is strong, and processing times are fast.

Exness Withdrawal Methods

Again, this is a good range of available methods, and processing times for withdrawals are faster than average for the industry.

Unlike many brokers, Exness does not charge for withdrawals (some payment providers may charge their own fees), including bank wire transfers.

Account Types and Terms

Exness Account Types and Their Benefits

At Exness, two standard accounts are available: Standard and Standard Cent (designed for new traders; this account is denominated in cents). The table below covers key account features.

There are also three professional accounts – Raw Spread, Zero, and Pro – that are designed for experienced traders, including scalpers, day traders, and algorithmic traders.

Exness Account Opening Process

Opening a live account with the Seychelles entity of Exness is a straightforward process: prospective clients simply need to enter their region of residence and confirm their email address and phone number.

What is CFD leverage?

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is using borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

The FSA-regulated Seychelles entity of Exness offers a default leverage of 1:2000. This means that with an account of $1,000, you can control up to $2,000,000 worth of positions in the market.

Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.

The maximum available leverage at the Seychelles entity of Exness varies by the amount of equity in your account.

Maximum Leverage by Asset Class

Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and commodities and the least on shares.

Demo Account

Exness offers demo accounts for both the Trading Terminal platform and MetaTrader 4/5. Demo accounts enable traders to practice their strategies and get comfortable with the platform without risking real money.

The demo account features live quotes and mirrors live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once traders are up to speed on a demo account, they can easily switch to a live version.

Islamic Account

Exness does offer swap-free Islamic accounts but only for residents of Islamic countries.

Exness Restricted Countries

Exness does not accept clients from the United States of America, American insular areas, European countries, the United Kingdom, and Vatican City.

Research

The Exness blog features market analysis, news, and insights through short-form articles that serve as a great source of ideas and help identify the assets currently active in the markets.

Trading Central WebTV is also available via the Exness website. Daily videos provide commentary, trading ideas, and news coming directly from the New York Stock Exchange floor.

Clients can access analysis from Trading Central within the client portal. The analyst views section provides actionable advice with specific price forecasts and support and resistance levels.

The Market News section within the client portal provides a real-time feed of market news and the latest updates from the FXStreet team.

My Takeaways from Exploring Exness Research Content

Exness offers an above-average range of research resources from in-house and award-winning provider Trading Central. Both inexperienced and advanced traders can benefit from the flow of reports and actionable ideas.

Education

Within the website’s blog section, Exness features a category dedicated to education, with articles covering topics such as trading strategies and platform features. I appreciated that advanced materials, including an introduction to algorithmic trading with Python and MT5, are also available. Seasoned market technicians further explain the use of classic tools like Fibonacci retracements.

The Exness YouTube channel is mostly dedicated to analysis, but it also features a range of educational platform tutorial videos covering how to use Exness Terminal and MetaTrader. Here, you can find everything from basic setup to more advanced topics like how to connect to Exness VPS.

The Bottom Line

Exness is a large, well-established CFD broker with a unique offering. Clients have access to a superb range of tradable instruments. I was particularly impressed by the selection of currency and crypto pairs.

Funding and withdrawals are processed fast, with a wide array of methods available. The intuitive Terminal platform, round-the-clock support, and micro-lot trading make Exness an appealing choice for beginners.

Meanwhile, the availability of massive leverage, tight spreads, and advanced tools cater to the needs of experienced traders. Scalpers, day traders, and algo traders will find Exness to be a suitable broker.

Clients should keep in mind that accounts at offshore entities have limited regulatory oversight.

While the Standard Account spreads may not be remarkable, spreads starting from 0.0 pips are accessible through Professional account types. The minimal swap fees and the option for social trading are additional advantages for traders.

FAQ