Exness: broker review and trader reviews
The EXNESS group of companies was founded in 2008, and currently every month opens 15,000 trading accounts for new clients around the world. The Russian representative office of the holding, EKSNESS, is a member of the CRFIN market regulator and has the status of a Group A forex broker, as well as an international certificate of compliance with the requirements of ISO 9001: 2008 in the field of forex trading. The company's clients can choose between trading through the EKSNESS dealing center and trading on the interbank market through ECN accounts. The leverage offered by the broker for Mini accounts is the largest on the market - 1: 2000, which gives flexibility in choosing a trading strategy and allows even novice traders to make relatively large transactions.
1. General information
Exness is one of the most popular Forex brokers among European and Russian investors. The service was registered in Cyprus in 2008 and is part of the Exness Limited group of companies, carrying out its activities on the basis of a certificate from the Cyprus regulator CySEC. In addition, Exness is certified by the following leading regulatory agencies: BaFin (Germany), CONSOB (Italy), CNMV (Spain), AMF (Netherlands), FI (Sweden) and KNF (Poland).The broker specializes in CDF and other margin trading instruments. Currently "Exness" provides traders and investors with more than 120 financial instruments to work with.
The total turnover of the company is $ 180 billion. More than 15,000 real accounts are opened monthly by regular and new clients. Broker's website: https://exness.com.ru available in 18 languages, including Russian.
Everyone is given the opportunity to earn extra money through the affiliate program. Users can invite new clients using their own unique link and receive profit up to 25% of the spread on the deals of each attracted investor. The affiliate program is available without registering on the service.
2. Advantages and Disadvantages
Extensive experience: Exness has been successfully operating in the financial market for more than 10 years and occupies leading positions in many ratings, which testifies to the high status of the broker and the professionalism of his team.Regulation of activities: the work of the broker is controlled by international regulatory structures. The possibility of deception and the provision of low-quality services is excluded.
Low minimum deposit threshold and investment size: clients can invest from 1 USD. The conditions are optimal for both experienced traders and beginners.
High transaction speed: most transactions are completed in 0.1 second. "Exness" guarantees the speed of execution of investors' orders.
Ongoing customer support: Assistance to traders is provided around the clock.
Demo account: everyone can open a demo account and try their capabilities without investing funds.
No commission for replenishment and withdrawal of funds: The service covers all costs. Money is credited to e-wallets instantly.
Possibility to use free VPS-hosting: valid for accounts with deposits from 500 USD
Ample opportunities for trading in the market: Traders can use a large number of financial instruments.
Support for modern payment systems: The service works with bank cards, accounts and all leading payment services.
The lack of a sufficient number of training programs on the site: Novice investors need training materials, so many services tend to make a special section on their resources.
No The service has complicated verification, which is not limited to one document. A separate confirmation of the trader's residence address is required.
3. Trading conditions
Each of Exness's clients can choose suitable options for performing transactions on the market among a large number of trading instruments:more than 80 types of currency pairs, precious metals, metal-currency accounts and cryptocurrencies;
dynamic spreads that start from 0.1 pips for basic currency pairs;
leverage with a ratio from 1: 2 to infinity - the final amount depends on the balance of the deposit;
Taking into account the minimal spread and the high speed of order execution, supporters of fast trading can count on an intermediate withdrawal of funds. Slippage practically does not happen.
4. Trading platform
Popular trading terminals are available for investors to work with. For installation on a desktop computer and mobile gadgets, the MetaTrader 4 platform is provided. For clients who plan to use multiple accounts, the MetaTrader 4 Multiterminal platform works (a version for mobile devices is provided). In addition, users can download and install MetaTrader 5, a program with advanced functionality, on their computer.Additionally, a web terminal is operated to enable online transactions. Its appearance resembles the MetaTrader4 platform. The convenience is that the program does not need to be downloaded to a PC, so you can trade from any device connected to the network. To access the program, you just need to enter your authorization data.
5. Types of accounts
The following types of accounts can be opened in Exness:A demo account is an analogue of real accounts under the terms of trade, but without the possibility of withdrawing profits.
Cent is a cent account with no limits on the amount of deposits and leverage. Spread - from 0.3 pips. It is not possible to trade CFDs, but timely execution of orders is guaranteed.
Mini - an account also without restrictions on the amount of deposits and the volume of open transactions. Execution is accurate and marketable. The leverage can be anything.
Classic - starting deposit from 2000 USD You can choose any leverage. The execution is market-based and as accurate as possible. At the decision of the dealer, transactions can be transferred to the interbank market. The size of the spread is from 0.1 pips, in most cases it is slightly wider, but this nuance is absolutely not critical.
ECN - starting deposit from 300 USD Leverage - up to 1: 200. Spread - from 0 pips. There is a commission of 25 USD. for 1 million of trade turnover. Execution exclusively on the market. Interbank transactions are automatically transferred.
All accounts except ECN have the Instant Execution type.
6. Opening an account and withdrawing funds
To open a trading account, a client needs to go to the broker's website and on the main page go to “Open an account”, in a new window select the desired option, and then click on “Open” again. The service will redirect the user to the registration page. Here you need to specify the country of residence, e-mail address, select a password, confirm the lack of citizenship or residency in the United States and click on "Continue".The client can replenish an open account immediately after filling in the fields of personal information and confirming the mobile phone number using the code from the SMS message. It is possible to deposit funds to the account using a bank card, bank transfer (up to 350 thousand USD) or through one of the following payment services: WebMoney, Yandex.Money, Neteller, PerfectMoney, Scrill, CashU. Additionally, you can make a deposit by making a transfer between different investor accounts within the service.
To use the full functionality of the service, you need to go through verification. To confirm personal information, you must use at least two documents. For example, a civil passport for personal information and one of the payment receipts to confirm the registration address. The company carries out verification within 24 hours from the date of submission of documents.
Withdrawal of earned funds is carried out in similar ways, based on orders created by traders, which, in most cases, are processed instantly. After approval, the money is transferred in the specified way (the transaction time in case of withdrawal by bank transfer is 3-5 working days). Funds are automatically sent to individual payment services. At the same time, the broker is not responsible for failures in the operation of the payment systems themselves.
7. Demo account
"Exness" provides everyone with a free practice account to study the platform's capabilities and the peculiarities of performing operations in the financial markets, without the need for real investment. When opening a demo account, users can choose the terminal on which they plan to carry out training trading. The account is automatically replenished with virtual money to enable demo operations.
8. Mobile trading
Control the position of the financial market, track the status of already open transactions and close them if necessary - all this is available using the mobile applications of trading platforms developed for iOS and Android. Mobile versions are provided for MT4 and MT5. The programs are available for download in the Play Market and AppStore. Installation of applications is free. Mobile platforms are convenient because traders get access to the market regardless of their location, provided they have Internet access.9. Trading strategies
The broker's platforms use various trading strategies - short-term, medium-term and long-term. Thanks to the wide range of financial instruments, it is possible to conduct market analysis using technical and fundamental approaches. Exness also offers optimal trading solutions in the form of time-tested strategies and investment ideas. For beginners and professionals, there is an opportunity to experiment, create their own trading strategies in order to make a profit.To choose the right strategy and execute profitable transactions, review financial articles are published on the site. A dedicated TV is provided - video broadcasts in real time from the New York Stock Exchange. Investors can view the economic calendar and monitor the accounts of other traders. Additionally, the service has a history of quotes, where you can download archives of information for certain periods to load data into MT4 and subsequent analysis.
10. Regulation and dispute resolution
Unlike other brokers, Exness conducts audits on a regular basis, so the data on profitability and trading volume displayed on the site is completely reliable. Well-known structures carry out audits:Meritorius Audit Limited is an independent member of MAP S. Platis, and its activities are in demand in Europe, Africa and the Middle East.
Deloitte is one of the big four audit structures, so any manipulation with statistics is completely excluded.
In addition, the activities of "Exness" are regulated by the following structures:
BaFin (Germany) - the company cooperates with the Federal Bank of Germany in the context of regulation of investment structures.
AFM (Netherlands) is a monopoly in the direction of control over the financial environment of the Netherlands.
CNMV (Spain) - the company regulates the financial direction in Spain, taking into account the requirements of EU legislation.
CONSOB (Italy) - has been carrying out control activities in the financial markets since 1974.
FI (Sweden) - the organization regulates the securities market, insurance and banking.
KNF (Poland) - the company carries out banking supervision of all organizations that deal with electronic payments.
Exness currently holds an FCA certificate of conformity (registration number 730729), therefore the service is also regulated by the Financial Conduct Authority. Control by reputable regulators excludes the possibility of dishonest work and deception of clients by the broker. Do not forget about the support service, which, in the event of any controversial issues, is always ready to help.
11. Is it worth trading with Exness?
After a detailed study of the activities of "Exness", the broker leaves a good impression even if there are several drawbacks. The reputation of the company for more than 10 years of work has developed extremely positive, as evidenced by the reviews of real traders. Confidence is increased by regular audits, as well as statistics that indicate that payments to traders and service partners are made exactly in accordance with the regulations.There are no critical comments on the trading conditions, despite the absence of a training section, the possibility of investing in PAMM accounts, our own service for copying transactions and a small number of large investors. There are no ideal brokers, and the work of this company leaves a pleasant impression. The provision of services within the framework of Forex trading is debugged at a professional level.
The identified disadvantages are fully offset by many advantages. Exness's activities are completely transparent, so it is possible and necessary to work on the platform.
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