Exness Review

Author By Jeffrey Cammack Author Information Updated: October 29, 2020
Overall Rating
4.12 4.12 / 5
Rated #22 of 49 Recommended Brokers
Min. Deposit
GBP 1
Max. Leverage
2000:1
Min. Spread
0.1 pips
Regulators
Regulator Origin
Trading Desk Type
AlertMost retail CFD accounts lose money. Your capital is at risk.

Summary

NOTE:  Currently, Exness does not accept traders from the UK.  As a replacement we recommend Pepperstone as a well-regulated broker, or eToro as the leading social trading broker.

Founded in 2008, Exness is a well-regulated broker with tight spreads and unlimited leverage on Standard accounts.  With both market and instant execution methods and full support for both MT4 and MT5, there is little to find fault with here – including its well-publicised sponsorship of Real Madrid.

Exceptionally, customer service is available 24/7 and most traders will find something to like from the wide range of account types.

Reviews

Regulation
111104/ 5
Trading Conditions
111115/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
10.50001.5/ 5
Assets Available
111104/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Standard
Bonuses

Trading Conditions

Min. Deposit
GBP 1
Base Currencies
Fx Pairs
120
Hedging Allowed
Yes
Scalping Allowed
Yes
Swap Free Accounts
Yes

Average Spreads

Euro/USD
0.5
GBP/USD
0.5
USD/JPY
0.5

Company Details

Company Name
Exness (UK) Ltd
Founded
2008
Type
Regulators
Office Locations
Cyprus

NB: In October 2019, Exness announced that it is closing its retail business in the UK/EU and will no longer accept clients from those regions.

Is Exness Safe?

Exness is a relatively new broker, only being founded in 2008, and has been regulated by the Financial Conduct Authority (licence: 730729) since 2016 and CySEC (license number 178/12) since 2012.

Exness is also a member of the Investor Compensation Fund, which serves to protect and secure the claims of covered clients and provide them with compensation in instances where the member of the Fund cannot meet its financial obligations.

In terms of market innovation, traders consider Exness to be a more traditional broker due to its reluctance to include a social trading aspect; though the lack of exposure to social networking does not seem have had a negative impact, as it consistently does 450 billion USD worth of business annually.

Exness regularly receives industry awards and recently won Best Global Forex Customer Service 2019Best Global Forex Trading Experience 2019 and Most Trusted Global Forex Broker 2019 at the Global Forex Awards.  Exness is also one of Real Madrid’s main sponsors. 

Trading Conditions

Trading conditions at Exness are some of the best in the business and all trades are executed on the market with no intervention, with one exception. With a low-cost cent account for new traders, unlimited leverage on some of the professional accounts and a wide range of assets to trade, Exness has made sure that its product offering will appeal to all types of trader.

Account Types

Exness has two standard trading accounts and three professional trading accounts with a good range of options for both beginner and experienced traders – all accounts are available as swap-free for Muslim traders. MT4 support is available on all account types, but MT5 support is slightly restricted – see below for details. 

All accounts feature market execution, apart from the Pro Account, where instant execution is provided for all CFDs except cryptocurrencies.

Display Name
Min Deposit
Max Leverage
Min Spread
Commission
Brokers
Pro
USD 200
2000:1
0.1
None
Account Details
Raw Spread
USD 200
2000:1
0.0
$3.50
Account Details
Standard Cent MT4
USD 1
Unlimited:1
0.3
None
Account Details
Standard MT4
USD 1
Unlimited:1
0.1
None
Account Details
Standard MT5
USD 1
Unlimited:1
0.2
None
Account Details
Zero
USD 200
2000:1
0
$3.50
Account Details

Standard Accounts 

  • Standard Cent Account – With 1 USD minimum deposit, micro-lots unlocked and spreads as low as 0.3 pips, this is a great account for new Forex traders who want to learn without too much risk. You will only be able to trade currency and metals with this account and MT5 is not supported.
  • Standard Account – This account also only requires a 1 USD minimum deposit and trading conditions are broadly similar to the Cent Account, but you will have access to MT5 and more assets, including cryptocurrencies and indices.

Professional Accounts

  • Raw Spread Account– a minimum deposit of 500 USD deposit and 3.50 USD commission but spreads from 0 pips. Available on MT5.
  • Pro Account – the single instant execution account offered by Exness, this account has a minimum deposit of 500 USD deposit and spreads from 0.6 pips but has no slippage. Available on MT5.
  • Zero Account – a minimum deposit of 500 USD deposit and 3.50 USD commission but guaranteed 0 pip spreads for 95% of the trading day on 30 pairs. Also available on MT5.

Spreads and Commission

Spreads are generally low compared to Exness’ competitors – even on the Cent Account where they can be as low as 0.3 pips, but generally average 1 pip on the EUR/USD.

Commission is only charged on two of the Professional Accounts, and then it is the industry standard 3.50 USD per lot per side.

Deposits and Withdrawals

Funds can be deposited in several different ways including Credit Cards, bank wire transfers, Neteller, Skrill and a few other online payment systems.

Exness has a system that allows automatic withdrawal of funds utilising a few different electronic payment systems which mean traders have 24/7 control of their account funds. Withdrawals are transacted immediately using the same method adopted to deposit funds.

 

Exness deposit withdrawal

Exness for Beginners

While Exness is not the best in the industry at providing education and market analysis for beginners, there is a decent amount of material for new traders to get through. The education section especially has a lot to offer, while market research and analysis is well-presented and useful rather than exciting. Customer support is excellent, however.

Educational Material

Exness Academy

The majority of Exness’ educational assistance for new traders can be found in the Exness Academy. Trading education is split into three different experience levels, which is perfect for a new trader wishing to gradually improve their understanding of the Forex market.

Video education is also available in five languages, including English, Arabic, Thai, Indonesian and Vietnamese. These bite-sized videos are great explainers of important concepts that all Forex traders need to understand.

Exness also hosts frequent webinars in English, Arabic, Thai, Indonesian and Vietnamese. These cover a range of topics and will prove especially useful to new traders. Registering for a webinar does not require an Exness account, though you will have to provide an email address.

Analysis Material

Exness Insight

The market analysis section at Exness is not quite as expansive as the education section, though there is still some great content here. Most of the content is presented in the analysis blog, which is updated every few days with thoughtful insight on recent and future events across a range of CFD markets.

Of course, a standard economic calendar is available, but Exness also presents a daily video of upcoming market events to watch out for with brief technical analysis. This is provided by Trading Central but is still useful for new traders.

Customer Support

Client phone support is 24/5 in 13 languages and two languages, English and Chinese are supported 24/7.

Other forms of contact include live chat, call back service, phone, and emails. Other support is provided through posted up to date financial news and there was access to their library through the website. Dow Jones news was available to clients with accounts.

Trading Platforms

Exness supports Metatrader4 and Metatrader5 (and the Webtrader for both) as well as a range of mobile trading platforms. Access with mobile is 24/7, an industry standard, and they have high-security encryption to protect a client’s details. If you are a trader with multiple accounts, you can opt for the Metatrader4 multi-terminal platform.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Exness offer. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Exness Risk Statement

Trading Forex is risky, and Exness would like you to know that: “CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital.”.

Summary

Exness is a good all-round broker for most traders, whether beginner or more experienced. With MT4 and MT5 support, good customer service and excellent trading conditions across a wide range of account types, there is little to fault here. It is only a shame that Exness has pulled out of the European market recently.

AlertMost retail CFD accounts lose money. Your capital is at risk.
  • Shahid says:

    Very nice article keep it up

  • Overall Rating
    Min. Deposit
    Regulation
    Trading Desk Type
    Trading Instruments
    Forex Pairs
    Crypto Pairs
    Pros
    Cons
    Regulation
    Trading Conditions
    Trading Platforms
    Deposit & Withdrawal
    Education & Research
    Assets Available
    Customer Service
    % Lose with this broker
    Leverage
    Spread
    Hedging
    Scalping
    Account Types
    Islamic Account
    Trading Platforms
    Funding Methods
    Trading Commission
    11110.54.12/ 5
    GBP 1
    Market Maker
    Cryptocurrencies, Forex, Metals
    120
    3
    • Well regulated
    • Tight spreads
    • Wide range of assets
    • 24/7 customer service
    • Limited education
    • Limited market analysis
    • Unavailable in Europe
    111104/ 5
    111115/ 5
    11110.54.5/ 5
    11110.54.5/ 5
    10.50001.5/ 5
    111104/ 5
    11110.54.5/ 5
    52% of retail investor accounts lose money when trading CFDs with this provider
    2000:1
    0.1 pips
    Yes
    Yes
    Pro, Raw Spread, Standard Cent MT4, Standard MT4
    Yes
    MT4, MT5
    Bank Transfer, Mastercard, Skrill, Neteller
    Fees Included in Spread
    1110.503.33/ 5
    GBP 200
    Market Maker
    Commodities, Cryptocurrencies, Forex, Equities
    47
    16
    • Well regulated
    • Good for beginners
    • Innovative trading tools
    • Limited education
    • Wide spreads
    11110.54.5/ 5
    110.5002.5/ 5
    111104/ 5
    110002/ 5
    10.50001.5/ 5
    111104/ 5
    111104/ 5
    62% of retail investor accounts lose money when trading CFDs with this provider
    30:1
    1.0 pips
    Yes
    Yes
    Professional, Standard
    Yes
    etoro
    Mastercard, Neteller, Skrill, Paypal
    Fees Included in Spread
    1110.503.24/ 5
    GBP 500
    Market Maker
    Commodities, Forex, Equities, ETFs
    48
    0
    • Good range of accounts
    • Wide range of assets
    • Wide spreads
    • Limited education
    • Limited market analysis
    • High minimum deposit
    1110.503.5/ 5
    110002/ 5
    111104/ 5
    11110.54.5/ 5
    10.50001.5/ 5
    11110.54.5/ 5
    111003/ 5
    67.95% of retail investor accounts lose money when trading CFDs with this provider
    20:1
    1.8 pips
    Yes
    Yes
    Gold, Islamic, Mini, Platinum
    Yes
    MT4, Sirix
    Mastercard, Maestro, Skrill, Neteller
    Fees Included in Spread
    Visit Broker
    AlertMost retail CFD accounts lose money. Your capital is at risk.

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