Exness is the brand name of the global brokerage firm that delivers its services through two main offices in Saint Vincent and the Grenadines and is a Cyprus Broker. The divided nature of the firm enables worldwide clients to enjoy tailor financial service and investment solutions, while the global brand delivers vast opportunities to the retail and mainly corporate solutions or partnerships, and the EU based company in Cyprus performs fully regulated services to the members within EEA and world.
Moreover, the company expanded its global reach and established a UK-based entity Exness UK Ltd. Actually, the broker has won numerous awards as a retail broker and therefore offers stable and reliable brokerage services with the comfortable trading environment created to suit the most demanding traders with their tight spreads and no hidden commissions from 0.1 pips. The trading process is delivered by the intuitive platform MT4 with a possibility to trade a number of CFDs and Futures on a range of markets.
Lastly, together with comfortable conditions for trading, you will get advanced support that brings customer service in 13 languages along with up-to-date financial news from Dow Jones, educational robust materials and Web TV with latest updates.
Moreover, the Exness takes an active role in social life, as well as acting as an honoured sponsorship partner with various organizations. Currently, Exness proudly sponsors the world’s number one football team, Real Madrid, and the best football player alive, Cristiano Ronaldo.
Is Exness safe or a scam?
In order to protect invested funds, when selecting a company for a long-term partnership a professional trader should consider not only the company’s trading conditions. But also, most importantly, make sure that the company’s operations comply with the relevant country’s legal requirements and with internationally recognized financial standards.
Exness Group due to its presence in various countries and established offices regulated by necessary local authorities that also highly respected within the industry. Exness UK Ltd is authorized and regulated by the Financial Conduct Authority, while Exness CY Ltd holds a license from CySEC.
Thus, the broker permitted to provide financial products or services within its activity in above mentioned countries and in another country in the EEA. Also, there is a license from an offshore Seychelles, which rather provides just registration than serious regulation, yet additional licenses from reputable authorities make things in Exness reliable.
Therefore, and due to operational standards that are set according to the requirements along with the customer protection, money segregation and participation in investor compensation fund or scheme. The EEA registration and the provision of services on a cross-border basis performed by authorization from cross authorities within Europe that makes Exness operation standards highly reasonable ones.
The first thing that hits you when you open the EXNESS website is its cool images which are large and colorful and exciting to look at. Since EXNESS is a partner of the Infiniti Red Bull Racing Championship, the snapshot of its flashy Infiniti racing car is certainly not out of place.
And since the website is available in 23 different languages including English, Chinese, Russian, Vietnamese, Farsi, Hindi, Urdu, Tamil, Thai, Bengali, Indonesian, and Malay, people from all over the world can participate in the fun.
The EXNESS Group offers clients access to the interbank market through an ECN, which is based on a software “aggregator” that coordinates the execution of client orders at the best prices from among several well-known liquidity providers connected to the “aggregator”. The transaction is executed by the liquidity provider that offers the best price for the specified volume at a given moment. Information about the liquidity provider to which a transaction was submitted is stored in our company’s database. The client can be provided with this information upon request.
The broker does not currently offer Swap Free ECN accounts because liquidity providers perform swaps on behalf of the company. The EXNESS Group gives traders an opportunity to trade in CFDs on futures, the underlying asset of which is oil. The EXNESS Group is involved in various social causes. It currently supports WWF Russia’s projects to restore rare species: the Persian leopard in the Caucasus and the Siberian tiger in the Far East.
EXNESS offers tight floating spreads on three different trading accounts: the Mini, the Classic and their ECN accounts. No minimum deposit is required for the Mini account but only 100 positions can be open at one time. Also the spread is 0.3. The spread in the other two accounts is 0.1 and there is no limit in the amount of positions a trader can hold. The Classic account requires a $2000 opening deposit and the ECN $300. Trade execution is immediate for all accounts. ECN accounts have direct access to Interbank liquidity.
Clients have access to 1:2000 leverage which considerably lowers margin requirements and allows trading strategies to be managed flexibly. A demo account can be opened for those wishing to practice their trades before putting their money at risk. Funds can be replenished in the demo account at will by filling out an online request form.
Deposit and withdrawals
To ensure that their clients have no problems depositing their funds, traders have the option to select from the various methods listed below:
- Perfect Money
- RBK Money
- Skrill (Moneybookers)
- Wire Transfer
Withdrawal of funds can be done through:
- Internal Transfer
- Perfect Money
- RBK Money
- Ruble Wire Transfer
- Skrill (Moneybookers)
- Web Money
- Wire Transfer
- Yandex Money
Since September 2009, automatic withdrawal of funds is available for all EXNESS clients. There is no longer a need to wait for the processing of the withdrawal request. Currently, only EXNESS has tech support for this sort of service.
Exness’s spread is very low, probably even the lowest out of all the regulated forex brokers that we have compared on our website.
Here is a breakdown of all the fees that you will be charged for trading on Exness:
- Extremely tight Spread: Exness offers variable spread with all their trading accounts. They offer extremely low spread of 1.1 pips on average for EUR/USD even with even their Mini account. The spread is even lower with their ECN account, but that will involve trading commissions.
Their spread in general is almost un-matched out of all the brokers offering standard accounts! It is lower than the spread offered by other top brokers i.e. XM (0.8 pips for EUR/USD), FXTM (2.2 pips for EUR/USD), but almost as good as Hotforex’s spread (as low as 0.8 pips for EUR/USD with standard accounts).
- Higher Commission with ECN: Exness charges commission for opening and closing a position with ECN accounts. And the commission is calculated according to the volume of a trade in the market.
For ECN account on $100,000 USD trading volume (1 standard lot), Exness charge commission of $2.5 (each order) for opening and closing the position. That is $5 for both sides. This is a bit higher than the commissions by Hotforex & FXTM with their ECN accounts.
- No Inactivity Charges: There are no charges for dormant account or maintenance, which most other brokers charge. So even if you will not use your account for few months, still Exness will not charge you any inactivity fee.
- Rollover charges for overnight positions: Exness apply charges for the positions that are left open during the nights. This is very standard with all brokers. The amount is debited or credited to your account when the position is closed. Swap or Overnight charges can be calculated using the formula: Lots x Contract Size x Point Size x Swap Short or Swap Long x Number of Days
Overall, Exness is very competitive in terms of their trading fees. The spread is very low (probably even the lowest), there are no hidden fees, and commission with ECN account is very straightforward.
Exness Customer Support
Exness’s customer support in really good! The support hours of Exness are 24 hours in a week. Their support is also available on Saturday and Sunday.
Here is how you can get support at Exness:
- Live Chat Support: Live chat is available 24/7 in English for South Africans. We have noticed that there is no hold time on chat and it takes less than 15 seconds (on average) to get a response via live chat at Exness.
- No Local Phone number: You can contact Exness on their international phone number 000-8001004378 or you can request for call back on contact us page of their website. but there is no local phone number available currently.
- Email Support: You can send a mail to [email protected] to send your query or issue via email. They are replying to all queries within 24 hours.
Exness support is far better than other brokers due to their 24 hours availability during all days in a week. Moreover their chat support is quick, friendly, highly responsive and it hardly takes more than a few minutes to get answers to any query on chat with them.
Exness is known for providing some of the best trading conditions in the industry. Download our mobile trading app now to experience our super-fast order execution, low spreads, popular MetaTrader trading platforms, instant withdrawals and much more.
Everything Traders Need
Want a simple way to access the world’s financial markets on the go? Look no further than the Exness Trader app! Put yourself in complete control of your accounts, manage your open positions, monitor the markets with ease and so much more… now.
The Exness Trader app features a state-of-the-art trading terminal with an incredibly easy-to-use interface
• Super simple registration process takes less than a minute
• 1 real and 1 demo account will be opened automatically for you (plus, you are free to open more accounts whenever you want to)
• Easy navigation makes the platform a pleasure to trade on
• Trade more than 130+ popular tradable assets
• Access real-time rates
• Benefit from low transaction costs that start from 0.1 pips
By tapping into what traders like you really need, we’ve developed a trading app like no other. Discover a brand-new trading terminal that has all the features our traders love, along with advanced functionality like essential notifications, instant deposits and withdrawals, live chat on the app … and, well, the list goes on and on.