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Exness Broker Review

FX Scouts By Jeffrey Cammack Updated: February 20, 2020
Overall Rating
4.32 / 5
Min. DepositGBP 1
Max. Leverage30:1
Min. Spread0.1 pips
RegulatorsCySEC,FCA
Regulator Origin CySEC FCA
Broker TypeMarket Maker

Summary

Be aware that Exness is no longer available for clients in the UK or Europe.

Founded in 2008, Exness is a well-regulated broker with tight spreads and unlimited leverage on a specialist zero account.  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

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Standard
Bonuses
Our Review Process

Trading Conditions

Minimum DepositGBP 1
Base currenciesUSD, EUR, GBP, AUD
Number of FX Pairs120
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD0.5
GBP / USD0.5
USD / JPY0.5

Company Details

Company nameExness (UK) Ltd
Founded2008
Website Visit Website
TypeMarket Maker
RegulatorsCySEC,FCA
Office locations Cyprus

Deposit & Withdrawal Methods

Supported Platforms for Exness

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 2019, Best 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 more limited – see below for 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 200 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 200 USD deposit and spreads from 0.1 pips but has no slippage. Available on MT5.
  • Zero Account – a minimum deposit of 200 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 very low compared to Exness’ competitors – even on the Cent Account where they can be as low as 0.3 pips. 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 a number of different ways including Credit Cards, bank wire transfers, Neteller, Skrill and a few other internet cash 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 for Beginners

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.

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.

Most retail CFD accounts lose money. Your capital is at risk.

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Trust Rating 5 / 5 5 / 5 5 / 5
Trading Conditions 5 / 5 3.5 / 5 4.5 / 5
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Leverage30:130:130:1
Spread0.1 pips0.0 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
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  • Pro (Standard)
  • Raw Spread (Standard)
  • Standard MT4 (Mini)
  • Standard MT5 (Mini)
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Swap-Free Accounts Yes Yes Yes
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Trading Commission Fees Included in Spread 7 USD / lot - XM Zero Account 6 USD / lot - Zero Account
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Overall Rating 4.32 / 5 4.38 / 5 4.49 / 5
Minimum DepositGBP 1GBP 5GBP 5
Regulation
CySEC CySEC
FCA FCA
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Broker TypeMarket MakerMarket MakerECN/STP
Trading InstrumentsCryptocurrencies, Forex, MetalsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, EnergiesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, Bonds
Forex Pairs1205751
Crypto Pairs324
Read Full Review Read Full Review
Trust Rating 5 / 5 5 / 5 5 / 5
Trading Conditions 5 / 5 3.5 / 5 4.5 / 5
Trading Platforms 4.5 / 5 4.5 / 5 4 / 5
Deposit & Withdrawal 3 / 5 4.5 / 5 4.5 / 5
Education & Research 3 / 5 5 / 5 4.5 / 5
Assets Available 4 / 5 4.5 / 5 4.5 / 5
Customer Service 4.5 / 5 4 / 5 4.5 / 5
% Lose with this broker 52% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider 72.83% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:130:130:1
Spread0.1 pips0.0 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
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  • Pro (Standard)
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  • Standard MT4 (Mini)
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  • Micro (Mini)
  • Standard (Mini)
  • XM Ultra Low (Mini)
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  • Auto (Standard)
  • HFCopy (Standard)
  • Islamic
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Swap-Free Accounts Yes Yes Yes
Trading Platforms MT4, MT5 MT4, MT5 MT4
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay
Trading Commission Fees Included in Spread 7 USD / lot - XM Zero Account 6 USD / lot - Zero Account

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.

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