Exness is the brand name of an international brokerage company that operates out of two main offices in Seychelles and is a Cyprus Broker.
The firm’s divided structure allows regional customers to enjoy tailored financial service and investment strategies, while the global brand provides vast opportunities for retail and primarily corporate solutions or partnerships.
The Exness website served 72,721 active traders globally as of December 2020, with a monthly trading volume of $325.8 billion, and had more than 80,000 active traders.
You can find our transparent Exness review below. Broker reviews are updated frequently!
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Wide Range of Forex Pairs
Limited Range of Stocks
The broker left the UK. and EU. Regulatory environments willingly for its retail operations. Despite this reform, the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) continue to be listed as their regulators.
It should be noted that Exness’s regulatory authority only extends to the company’s business-to-business (B2B) division authorised by the FCA (UK) and CySEC.
Exness is a Securities Dealer registered and licensed by Financial Sector Conduct Authority FSCA (South Africa) with FSP number 51024.
The Exness Securities Intermediary registered in Curaçao has a registration number 148698(0) and is licensed by the Central Bank of Curaçao and Sint Maarten (CBCS) with license number 0003LSI.
It keeps Client funds separate from corporate funds and assures negative balance insurance.
Exness also makes its financial statements available on its website, with Deloitte, a Big Four accounting company, serving as its independent external auditor.
up to 10%
With 107 currency pairs, Exness provides leading coverage. Exness has a maximum leverage of 1:2000 and a low minimum deposit.
The broker offers a secure trading environment for those who cannot tolerate disruptions or downtime in their trading strategies—a critical factor in the success of algorithmic trading, but also for other traders.
Moreover, consumers should have confidence in Exness’s ability to carry out its custodial and market-making duties flawlessly, as CySEC regulates it.
No broker can claim to be trustworthy if its customer service is unavailable, and Exness excels in this area.
Traders with an inquiry or account problem can contact the company 24 hours a day, seven days a week, via email or phone (in any of the 13 languages supported) and via live chat or apps such as WhatsApp and Viber.
Exness Tradable products
Exness provides one of the most detailed forex market coverages in today’s market, with 107 currency pairs available.
Active forex traders will be pleased with the selection, which includes seven cryptocurrencies and twelve commodities.
There are 40 equity and index CFDs available for cross-asset diversification.
Exness, as a forex broker, provides its traders with a market-leading asset range.
However, equity traders would be frustrated by the limited number of stocks it provides.
Exness offers a much wider range of Forex pairs than other brokers. In addition, it offers a much higher level of leverage.
Exness offers various crypto crosses, mostly Bitcoin, such as BTC/ZAR and BTC/XAU. Other cryptocurrencies include Ethereum, Litecoin, and Ripple. It offers maximum leverage of 1:400, much higher than other brokers. Traders should know that risks are involved in trading with such leverage on such a volatile asset. Profits can increase, but losses can also be severe.
With Exness, you can trade silver and gold with the AUD, EUR, GBP, and USD, as well as palladium and platinum futures. There is maximum leverage of 1:2000 on gold, but it drops to 1:100 on platinum and palladium futures.
Brent and WTI spot contracts are available through Exness, a slightly limited range compared to other South African brokers.
In addition to the NASDAQ, S&P500, FTSE100, DAX30, and the Nikkei, Exness offers trading CFDs on a range of international indices. Comparatively, this broker offers a similar range of indices.
Exness offers a smaller selection of share CFDs than other South African brokers. To protect traders from possible market price gaps, leverage is increased to 1:5 on the dates when a stock company’s financial reports come out.
Exness Account Types
While the contract description page on the Exness website lists five account types, the Accounts category only has four, with no ECN option. The Standard Account has a $10 minimum deposit and maximum leverage of 1:2000.
The Raw Spread, Zero, and Pro options need a $200 minimum deposit, with the Pro account being the best option for most traders due to flexible trading conditions.
Exness ZAR account
South African traders can open a ZAR account with Exness. You cannot change it later upon opening an account with ZAR as the account currency.
Changing your account’s currency to USD is impossible if you open it in ZAR.
You can, however, open another Exness trading account in another currency from your client panel. With Exness, you can open a Standard or Pro account with ZAR as the base currency.
Exness Demo Account
Demo accounts are available at Exness. All features of Exness’ real accounts are available in the demo account. Demo accounts are available for Mini, Classic, and ECN accounts.
Before opening a real account, you should test Exness’s platform on a demo account. However, demo accounts can differ from Live retail investor accounts in some ways (spread, bid/ask), so use them only to build your strategy.
Standard Cent Account (MT4 only)
This account is great for new Forex traders who want to learn without taking a high risk of losing money with its 3 USD minimum deposit, unlocked micro-lots, and spreads as low as 0.3 pips.
However, the spreads on this account are closer to 1 pip: With this account, you can only trade Forex and metals. MT5/Exness web trader is not supported.
Standard Account (MT4/MT5/Exness web trader)
Additionally, this account requires only a 3 USD minimum deposit, and trading conditions are similar to the Cent Account. Still, it offers MT5/web trader access and more assets, including cryptocurrencies and indices.
Raw Spread Account (MT4/MT5/Exness web trader)
There is a minimum deposit of 500 USD, a commission of 3.50 USD (7 USD round turn), and spreads starting at 0 pips on EUR/USD. You can access it through MT5/Exness web trader.
Pro Account (MT4/MT5/Exness web trader)
The single instant execution account offered by Exness begins at 0.6 pips (EUR/USD) and has a minimum deposit of 500 USD. MT5/Exness web trader supports it.
Zero Account (MT4 or MT5)
The account requires a minimum deposit of 500 USD and a commission of 3.50 USD (7 USD round turn), but traders are guaranteed 0 pip spreads for 95% of the trading day on 30 pairs. You can also access it via MT5/Exness web trader.
Market execution is available for all accounts except the Pro Account, which offers instant execution for all CFDs except cryptocurrencies. Muslim traders can open swap-free Islamic accounts on all accounts.
Opening an account
To open an account, you must first register with the broker. You will finish the first stage by providing your country of residence, a valid email address, and a password.
Account verification is a second necessary procedure required by the brokerage firm, which is accomplished by providing a copy of the trader’s ID and one proof of residency document.
After entering your country, email, and password, you will be redirected to the My. The Exness dashboard lets you pick the trading account you want to open.
You can use the My Exness personal section to view and open new accounts and access deposit and withdrawal options, trading sites, bonuses, social trading, and other features.
Exness does not accept clients from these countries: the USA, Malaysia, Vatican City, Israel, Syria, American Samoa, Puerto Rico, and North Korea.
Exness offers leverage, like most Forex brokers, which can increase potential gains by allowing multiple initial account balances.
Leverage levels depend on your trade instrument, proficiency level, and regulatory restrictions. Since FCA, CySEC, and its European directive miFID significantly lowered the possibility of leverage, the maximum leverage retail traders can use is
- 1:30 for major currencies
- 1:20 for minor ones
- 1:10 for commodities
Exness’ leverage is one of its best features. A Standard account can provide leverage up to 1:2000. Nevertheless, you should use leverage with caution since it can come with a double edge. In addition, you should always learn how to use leverage correctly, as leverage can also increase your losses.
Exness allows users to trade on multiple trading platforms, including MetaTrader 4 and MetaTrader 5 trading sites for Windows, Mac, Linux, and the Web.
On its MT4 platform, Exness provides users with the following:
- 30 built-in indicators
- There are two forms of order execution: instant and market.
- MQL4-based auto-trading
- Rates are updated in real-time.
Users of the Exness MetaTrader 5 platform have access to the following:
- View 38 built-in indicators and 22 trading tools.
- Gain access to fundamental analysis through an integrated economic calendar and news events.
- You can see up to 21 different timeframes.
- Use MQL5 to build automated systems.
You can also trade on the Exness Web Terminal, which provides fast and easy trading functionality but has limited features.
Exness offers a free demo account to test your strategy.
Exness allows users to trade on the MT4 and MT5 mobile trading apps for Android and iOS systems. These are available for download directly from the broker’s website, My: Exness Personal Area, the Google PlayStore, or the Apple AppStore.
MetaTrader4 is a convenient, functional, and well-known trading platform, and both platforms have a good reputation in the industry.
In comparison, MT5 is a more advanced version with more powerful features and new capabilities.
Using Web Trading, accessible via the browser, you can access both without downloading or installing anything.
However, Web versions are always less advanced than desktop versions, so if you develop a comprehensive strategy and need more customisation and charting features, use the desktop version instead.
MT4 and MT5 support all devices, including PCs and MACs, so you can choose which platform you would like to use, the industry standard or the newly developed MT5.
Please note that each account supports both platforms, so you do not need to specify; you can use both simultaneously.
Exness allows almost any trading style, making your preferred strategy available and possible.
Additionally, there are several useful tools in the glossary, analysis provided by Trading Central, high-quality VPS hosting, economic calendars, quotes history, and the most relevant market news about the Forex market available via Dow Jones News, the world’s leading source of information.
Mobile trading platform
Free apps are available for iPhones and Androids, as well as MT5 and MT4 versions, so you can stay up-to-date about trading wherever you are.
Using the trading apps, you can customise your phone, check account status, request withdrawals, and view fee reports from your mobile device.
Spreads and Commissions
Exness uses a complex fee and trading commission system based on the five account types mentioned below. Many experienced traders will likely find the conditions in the Pro account to be the most attractive, as the EUR/USD begins with a 0.6 pip commission-free markup.
There are swap rates on overnight positions and third-party deposit/withdrawal fees.
Exness provides stock and index CFDs but no information about how it handles corporate activities such as dividends, splits, and mergers.
With the most recent update to the terms and conditions on September 23, 2020, a previous inactivity fee of $5 per month no longer applies. Exness benefits directly from client losses as a market maker.
The EUR/USD in the Standard Account has a 1.0 pip commission-free spread.
The Raw Spread Account is a commission-based option that offers spreads as low as 0.0 pips for a minimum cost of $3.50 per side or $7.00 per round lot.
The Pro account allows you to trade the EUR/USD with a 0.6 pip commission-free spread.
The Zero Account displays a spread at or near 0.0 pips, with the trading commission that differs depending on the asset and wider spreads than the Raw Spread Account.
The commission-free Pro Account has higher spreads than the ECN Account but lower trading costs at $25. However, as mentioned earlier, the ECN account currently isn’t available.
Average Standard Account Spreads on Majors
- EUR/USD: 1.1
- GBP/USD: 0.7
- USD/JPY: 1.0
- AUD/USD: 0.7
Deposits and Withdrawals
As a deposit/withdrawal method, Exness accepts Bitcoin, SticPay, Tether, credit/debit cards, Neteller, Skrill, Perfect Money, and WebMoney. The red flag at this broker is the lack of bank wires as a funding option.
Processing times vary according to payment method but are usually marked as instant.
Exness has the most advanced payment systems for Asian countries, particularly China, Thailand, Indonesia, Vietnam, and Pakistan.
Traders in these countries can deposit using local banks, internet transfers, mobile payments, e-wallets, credit cards, and other methods.
The good news is that if traders use local payment systems, Exness will pay the entire transaction fee, and they will be able to get a better exchange rate.
Bonuses and Promotions
Currently, Exness offers a 10% net deposit bonus. Net deposit is total deposits deducted from total withdrawals.
Exness offers multilingual support and advertises its availability on its website and via email and phone. English, Chinese, and Thai assistance are available 24 hours a day, seven days a week.
The Exness Help Center tries to answer the most frequently asked questions. A live chat isn’t available, but most traders are unlikely to need much assistance.
Education and Research
Exness offers traders excellent in-house analysis, which may be the broker’s best asset. The Weekly Forex Data section contains an in-depth analysis of important upcoming events and trading ideas.
The bi-weekly technical review adds value, in which trades are well described. Each report includes high-quality written content and charts and a web TV stream provided by Trading Central to supplement in-house analysis.
A live market news stream rounds out this service.
The Exness Academy has a well-designed educative section based on quality research; it is divided into three sections, each including written content and videos, and is concluded with a quiz.
It is a must-read for a beginner, and Exness highlights the value of education before trading. With well-explained content, educational videos in five languages add another layer of value.
One-hour webinars are another excellent resource for new traders. Exness provides a special education plan in general.
Most of the research content appears in the analysis blog, which provides insight into recent and future events across various CFD markets. MT4 clients have access to Dow Jones news, while Exness’ web trader platform offers FXStreet.
A standard economic calendar is available, but Exness provides daily videos of upcoming market events with technical and fundamental analysis. Trader Central provides this service, but new traders can still find it useful.
Trading Central (TC) Indicator
TC Indicator, one of the favourite indicators, superimposes Trading Central’s technical analysis strategies, forecasts, commentary, and key levels (support/resistance/targets/stop pivots) on most tradable complex instruments’ live charts. The plugin is multilingual and customisable.
The Exness VPS service is free for all traders with a minimum deposit of 500 USD.
VPSs are remote terminal solutions that benefit from reduced latency and downtime because they are not affected by power outages or computer crashes.
The Exness VPS continues to trade even when the trading terminal is closed.
Exness educational content
Exness is a financial service provider that offers adequate training for new traders but doesn’t compare to the best brokers in this field.
Exness Academy provides most of its educational assistance to new traders. There are three levels of trading education, ideal for new traders looking to improve their understanding of the Forex market gradually.
The video education program is available in five languages: English, Arabic, Thai, Indonesian, and Vietnamese. Professional traders should understand the concepts explained in these bite-sized videos.
The broker Exness hosts frequent English, Arabic, Thai, Indonesian, and Vietnamese webinars.
These cover various topics and will be especially helpful to new traders. To register for a webinar, you need an email address, but you do not need an Exness account.
Who is Exness recommended for?
Traders with some trading experience in the industry should consider Exness, as this broker doesn’t offer many “how-to” instructions that would be helpful to beginners.
If you’re a novice, you can still sign up with Exness, but you’ll need to learn your basics elsewhere.
This broker offers a variety of account types and MetaTrader software that will appeal to advanced and intermediate traders.
Exness provides free VPS hosting for live accounts with at least $500 or the equivalent in another currency. Using this feature, you can connect to their trading terminals from a remote terminal.
Instant withdrawals instant withdrawal feature is one of the things Exness is proud of. It takes just seconds for you to withdraw money from this broker. Even on weekends, instant withdrawal is available and requires no manual processing.
Free VPS hosting
Free VPS hosting is available from Exness if you are looking for fast, reliable execution. With uninterrupted internet coverage, you won’t experience any interruptions in your trading due to uninterrupted internet coverage.
Comprehensive price history
A complete archive of all price ticks is available to clients through Exness. Using its real-time pricing, the broker creates this archive.
You can download past bid/ask prices by going to https://www.exness.com/tick-history/, selecting an instrument and period, and clicking the download button.
High trade volume
Exness has a trading volume that is worth bragging about. As of April 2022, its total trading volume topped $2.105 trillion. The first quarter of 2022 saw $870 million in withdrawals from 281,270 active clients.
Transparency is a hallmark of Exness. Aside from being regulated by multiple organisations, it also publicly makes its audits and performance indicators available to clients.
Exness IB affiliate program
Exness offers two affiliate programs: introducing broker and affiliate program. Through the introducing broker program, you can earn up to 40% revenue share for every trader you refer.
Join the Exness IB Affiliate Program: Join Now & Earn
Exness South Africa
As a South African, you’ll be glad to know that Exness South Africa accepts clients from SA. However, it is not regulated in the country.
Is Exness safe or a scam?
It is not a scam, as Exness operates under the relevant country’s legal requirements and is authorised by FSCA South Africa to provide low-risk Forex and CFD trading.
Is Exness legit?
Exness Group provides fully legit status due to its international presence and established offices regulated by local authorities. Consequently, the broker may offer financial products and services within its activity in the EEA countries mentioned above. Furthermore, there is a license from offshore Seychelles, which offers registration rather than serious regulation, but additional licenses from reputable authorities make Exness’ services reliable.
How are your funds protected?
In addition to ensuring customer protection and segregated accounts, operational standards in line with regulatory requirements ensure that good layers of protection are in place.
With EEA registration and cross-border services performed by cross-authority authorisation within Europe, Exness operation standards are highly reasonable.
Exness is a reliable broker and has over twelve years of operational experience. The first move was the voluntary withdrawal of all retail operations from the United Kingdom and Cyprus.
This broker mentioned a focus on business-to-business operations and a transformation into a FinTech company, offering products and services that enable other Forex brokers to operate.
It moved all retail activities to Seychelles, where its Nymstar subsidiary welcomes clients worldwide with few restrictions.
Exness is open to all traders with a $10 minimum deposit. This broker attracts traders worldwide and offers maximum leverage of 1:2000.
With minimum commission-free stable spreads of 0.6 pips, the Pro Account provides the best trading conditions for most traders.
Active Forex traders have access to 107 currency pairs, a market-leading number, but the MT4/MT5 trading platforms are the default versions.
They lack a strategic advantage without third-party add-ons. Exness excels in in-house research and education, while in-house VPS hosting facilitates automated trading solutions. Exness offers a combination of outstanding services but with some drawbacks.
Before taking the plunge, each trader must weigh the pros and cons to determine if the overall services are best for them.
Exness Review Summary
Due to the variety of accounts available, Exness offers an easy, straightforward trading solution ideal for novice and experienced traders. These include commission-free, commission-based, and raw-spread accounts.
The number of currency pairs available for trading is remarkable, with various options. You can trade on other asset groups, such as CFDs on metals, energies, indices, cryptocurrency, and US stocks.
Thinking of Trading with Exness?
Is Exness a good forex broker?
With 107 currency pairs, Exness provides market-leading coverage. Depending on the account type, the pricing is reasonable, and the study and education are excellent. Each trader must determine if the overall service constitutes a good forex broker.
Is Exness regulated?
The Seychelles Financial Services Authority (FSA) governs Exness’s retail operations. The UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) support Exness’s business-to-business division.
How do I deposit into my Exness account?
You can use Bank Card, Perfect Money, WebMoney, Neteller, and Skrill to fund a trading account.
How long does an Exness withdrawal take?
Withdrawal processing times range from instant to 72 hours. The funds may take longer to arrive.
What is the Exness minimum deposit?
The minimum deposit is $10.
What is the maximum leverage in Exness?
Exness has a maximum leverage of 1:2000.
Is Exness regulated in South Africa?
No, the Seychelles Financial Services Authority (FSA) is the sole regulator of all retail trading activities.
Is Exness reliable?
Yes. You can find all information about this broker on their websites, such as trading volume, number of active customers, client deposits, and company funds.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst
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