Exness Forex Broker review
|Location:||UK Cyprus Saint Vincent and the Grenadines|
|Regulation:||FCA, CySEC, CONSOB, FI, CNMV, AFM, BaFin|
|Offices:||London, Limassol, Kingstown, Lagos, Abuja|
|Broker type:||STP | ECN|
|Leverage:||up to 1:2000 (1:30 for EU clients)|
|Deposit:||from 1 USD|
|Platforms:||Web MetaTrader 4 MetaTrader 5|
|Instruments:||Currencies, Crypto, Metals|
|Education||Free webinars and financial seminars.|
Exness group includes 3 related companies.
Exness UK – located in the United Kingdom, regulated by the Financial Conduct Authority (FCA).
Exness CY – located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Exness SVG – legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
Exness is also registered and supervised by the CONSOB (Italy), the FI (Sweden), the CNMV (Spain), the AFM (Netherlands), the BaFin (Germany).
Be aware, UK and CY companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Exness group accepts clients from all over the world, excluding USA, Canada and some third-world countries.
- Authorised and regulated by government agencies in several jurisdictions.
- 1:50 leverage offered for cryptocurrency trading
- Tight spreads on major currency pairs
- Bitcoin funding accepted
Forex broker offers the following underlying assets for trading
100+ Currency Pairs – Based on major and minor world currencies.
4 Crypto Pairs – Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin.
8 Metal Spot CFDs – Based on Gold and Silver.
Founded in 2008, Exness is today a large broker with a local presence in many parts of the world. It is rather heavily regulated by both the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), which makes this a credible and reliable broker that traders can trust.
Exness is well-known for being a high-profile sponsor of Real Madrid, and football player Cristiano Ronaldo. In 2016 they also won the ‘Best MT4 Forex Broker’ award by AtoZForex.com.
The trading instruments available on Exness includes more than 120 forex pairs, as well as CFDs based on assets such as metals and cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
In terms of trading platforms, Exness offers the standard MetaTrader 4 and 5. The platforms are available in the usual versions for Mac and Windows, together with a web-based and mobile version for Android and iOS devices.
There are two types of accounts available on both MT4 and 5: The Mini Account and the Classic Account. Mini accounts have a minimum deposit of just USD 1, but comes with wider spreads starting from 0.3 pips.
On the other hand, the Classic Account has a much higher minimum deposit requirement of USD 2,000. The available leverage on this account is also set quite high at 1:2,000, although it is capped at only 1:30 for traders based in the European Union due to local regulations. Spreads on the Classic Account are fairly tight, starting from 0.1 pips on the most popular instruments.
Deposits and withdrawals can be made through a variety of methods, including credit and debit cards, bank transfer, and the popular e-wallet services Neteller, and Skrill.
Withdrawals are normally processed instantly by the broker, but may take up to 24 hours to be processed in some cases. The broker does not charge any processing fees for handling deposits and withdrawals, which is something we appreciate. However, withdrawals via bank transfer of less than EUR 1,000 is subject to a $40 processing fee. Minimum deposit and withdrawal amounts differ based on the payment method chosen.
The broker provides various tools to its traders, such as an economic calendar to help traders keep track of events happening that may affect the currencies they trade in. Analytical reviews and Forex-related news by the broker’s own experts also help in giving traders the macro overview they need to trade forex successfully.
One way Exness truly stands out is with its focus on quality customer service. As one of just a few brokers, Exness has customer service agents available for its clients 24 hours a day, 7 days per week. Customer service is also available in 13 languages (English, Russian, Chinese, Hindi, Farsi, Urdu, Vietnamese, Indonesian, Arabic, Thai, Bengali, Malay, and Tamil), which makes the broker a good choice for traders from all corners of the globe. In addition to phone support, customer service is available via a live chat option on the broker’s website, as well as a request for call-back option.
Starting in September 2018, Exness customer support is also available via the popular messaging apps WhatsApp, Telegram, Viber, and Line, for even more convenient service.