Exness vs FOREX.com - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: Nov 15, 2023

Last Updated On Nov 15, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

How do FOREX.com and Exness stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

Exness

FOREX.com

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare FOREX.com and Exness, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does FOREX.com or Exness have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that FOREX.com holds four Tier 1 and no Tier 2 licences, and Exness holds no Tier 1 and no Tier 2 licences.

 

Is FOREX.com financially regulated?

Yes FOREX.com was founded in 2001 and is regulated by ASIC, CIMA, CySEC, FCA and MAS.

 

Is Exness financially regulated?

Yes Exness was founded in 2008 and is regulated by B.V.I FSC, CMA, FSC, FSCA and FSA-Seychelles.

 

Based on these findings, FOREX.com earned a higher trust rating than Exness.

Does FOREX.com or Exness have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Exness and FOREX.com have the same trading costs. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Exness
111115/ 5
USD, EUR, GBP, AUD, ZAR, CHF, JPY, NZD, SGD+40
0.70 pips
USD 7
0 pips
0.10 pips
0 pips
USD 0
Forex.com
111115/ 5
USD, EUR, CAD, JPY, CHF, AUD, GBP
0.70 pips
USD 7
0.70 pips
1.10 pips
1.40 pips
USD 0

 

Does FOREX.com or Exness offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FOREX.com offers support for MT4, MT5, FOREX.com Web Trader and TradingView and Exness offers support for MT4, MT5 and Exness Terminal. 

Do the brokers offer copy trading?

In this case both Exness and FOREX.com offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Exness
11110.54.5/ 5
MT4, MT5, Exness Terminal
Forex.com
11110.54.5/ 5
MT4, MT5, FOREX.com Web Trader, TradingView

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Exness offers a greater range and depth of instruments to trade than FOREX.com. Exness offers 100 Forex pairs to trade and FOREX.com offers 91 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Exness offers 34 cryptocurrencies while FOREX.com offers 8 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Exness.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that FOREX.com charges a withdrawal fee and Exness does not. Overall, Exness has better deposit and withdrawal processes than FOREX.com. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

FOREX.com has better educational support than Exness. Both Exness and FOREX.com offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Exness
Forex.com

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that FOREX.com offers better research analysis than Exness and that both Exness and FOREX.com offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Exness
Forex.com

 

Our overall Verdict on FOREX.com

Founded in 2001, Forex.com is a well-regulated broker with high minimum deposits and low fees that is more suited to serious beginners and more experienced traders. Beginners with low minimum deposits will be put off by the high trading costs on Forex.com's entry-level Standard and MT5 accounts. But experienced traders will be interested in the Commission and DMA accounts, with minimum deposits of 100 USD and 25,000 USD respectively. These accounts have some of the most competitive spreads (0.0 pips on the EUR/USD) combined with some of the lowest commissions in the industry. 

Forex.com provides support for MT4, MT5, and its own trading platform and experienced traders will appreciate the range of trading tools on offer, including Autochartist, Trading Central, Trading View, SMART Signals, and subsidised VPS hosting.  

Education and market analysis are both excellent and experienced traders will appreciate the wide range of tradable assets, including over 91 currency pairs, 4500 share CFDs, commodities, indices, precious metals, and cryptocurrencies.

Overall, Forex.com ticks all the boxes for those with higher minimum deposits looking for a wide range of assets to trade and a choice of trading platforms.

Our overall Verdict on Exness

Exness is a CFD broker with over 200,000 clients worldwide, offering trading on 100+ Forex pairs, a small range of cryptocurrencies, 70+ stock CFDs, indices, and commodities. Exness has nine account types on the MT4 and MT5 platforms - many more than most brokers. These range from a Standard Cent Account with a 10 USD minimum deposit to a selection of Pro Accounts with tight spreads, market execution, and minimum deposits starting at 500 USD. 

Deposits and withdrawals are free of charge, and customer service operates 24/7. While Exness’ trading costs are generally below the industry average, its education and market analysis are poor compared to other major brokers.

Which broker has the highest overall rating?

FOREX.com has an overall rating of 4.62 and Exness has an overall rating of 4.32. For more detail please read our reviews of FOREX.com and Exness.

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