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Exness Broker Review

FX Author By Jeffrey Cammack Author Information Updated: July 4, 2020
Overall Rating
4.32 4.32 / 5
Min. DepositUSD 1
Max. Leverage2000:1
Min. Spread0.1 pips
Regulators CySEC,FCA,FSC
Regulator Origin CySEC FCA FSC
Trading Desk Type

Summary

As of November 1st 2017, Exness is no longer able to accept new clients from Malaysia.  All current customers will be unaffected by this change.  In this event, we can recommend traders looking for a broker similar to Exness to look into either of XM or HotForex

Reviews

Regulation 11111
Trading Conditions 11111
Trading Platforms 11110.5
Deposit & Withdrawal 11110.5
Education & Research 10.5000
Assets Available 11110
Customer Service 11110.5
Beginner Friendly Standard
Bonuses
Our Review Process

Trading Conditions

Minimum DepositUSD 1
Base currenciesUSD, EUR, GBP, AUD
Number of FX Pairs120
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

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

Company Details

Company nameExness (UK) Ltd
Founded2008
Website www.exness.com
Type Market Maker
Regulators CySEC,FCA,FSC
Office locations Cyprus

Deposit & Withdrawal Methods

Supported Platforms for Exness

The notice we received reads as follows:

We would like to inform you that as of Wednesday, November 1, 2017, we are restricting new registrations for both Exness Limited and Exness (Cy) Ltd for the Malaysian market. The restriction of new Malaysian clients is based on a commercial decision of Exness in view of changing regulatory and environmental conditions. Existing Malaysian clients can continue trading with Exness.

The reason for the Malaysian market restriction is not in any way related to Exness’s financial performance. Currently, the amount of Exness’s own funds is almost four times larger than the amount of clients’ funds. These funds have been verified by Deloitte, the world-known company providing industry-leading audit and consulting services.

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Review of Exness

Exness was established as a Forex broker in 2008.  Since Exness started it has grown from strength to strength and is one of the fastest-growing Forex brokerage companies in the world. It’s been described as a rare breed of online Forex broker due to the fact that it practices transparency in its business operation.  Exness do quarterly independent audits by Deloitte to support their transparency claim.

In terms of market innovation, traders consider it to be an old-school style broker due to its reluctance to adopt a social trading concept in which other traders can have their trades copied. That lack of exposure to social networking hasn’t seemed to have affected it at all, as it consistently does $450 billion worth of business annually. Exness continually receives industry awards and recently won Best Trading Conditions 2014, Best Educational Broker 2015 and Best MT4 Forex Broker 2016.  Exness also has the current sponsorship of Real Madrid and Cristiano Ronaldo.

Trading Features

It’s not over-endowed with a lot of trading platforms like other brokers, but they do have four different trading accounts.

  • “Cent” trading account (No minimum deposit) – great for new Forex Traders who want to get a good feel for the trading environment.
  • “Mini” trading account (No minimum deposit) – this is also for Forex beginners but with better trading conditions
  • “Classic” trading account (minimum $2000 deposit) – for professional traders who are supplied with a full range of trading tools and facilities
  • “ECN” trading account (minimum $300 deposit) – for professional traders who want no conflict of interest between them and their broker
  • No commission charged on trades done through Exness
  • One of the lowest spreads in the industry, probably why it makes them so popular
  • For ECN trading accounts there is a minimum fee of $25 for each million dollars worth of trade.
  • CySEC and FCA regulated
  • Allows CFD trades
  • Trial account is available

Trading Platforms

Exness has Metatrader4 and Metatrader5, Webtrader, 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.

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 great system that allows automatic withdrawal of funds utilizing a few different electronic payment systems which means traders have 24/7 control of their account funds.

Withdrawals are transacted immediately using the same method adopted to deposit funds.

Exness even supplies a useful chart listing each deposit method and its advantages or disadvantages.

Support for New Traders

Client support is 24/5 in 13 languages and there are two languages, English and Chinese that 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.

Summary

There was only one bonus promotion available but Exness is rated highly with client care and support. Feedback the company received was answered, which indicated that they really did read and address complaints. Considering all other Forex brokers provided social networking, it was an oddity that Exness did not! Navigation of their website was also another plus – clear presentation.

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

Compare CFD Brokers

Overall Rating 11110.5 4.32 / 5 11110.5 4.49 / 5 11110.5 4.58 / 5
Minimum DepositUSD 1USD 5USD 5
Regulation
CySEC CySEC
FCA FCA
FSC FSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
CySEC CySEC
ASIC ASIC
IFSC IFSC
Trading Desk Type
Trading InstrumentsCryptocurrencies, Forex, MetalsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, BondsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies
Forex Pairs1205157
Crypto Pairs34
Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • 24/7 customer service
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Limited education
  • Limited market analysis
  • Unavailable in Europe
  • Limited base currencies
  • Dealing desk
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11111 5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11110 4 / 5 11110.5 4.5 / 5
Deposit & Withdrawal 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Education & Research 10.5000 1.5 / 5 11110.5 4.5 / 5 11111 5 / 5
Assets Available 11110 4 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
% Lose with this broker 52% 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 69% of retail investor accounts lose money when trading CFDs with this provider
Leverage2000:11000:1888:1
Spread0.1 pips0.0 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Zero (Standard)
  • Zero (Standard)
  • XM Zero (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 , MT5 MT4 , MT5 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Commission Fees Included in Spread 6 USD / lot - Zero Account 7 USD / lot - XM Zero Account
Clear all brokers Clear all brokers

Exness

Visit Website

HotForex

Visit Website

XM

Visit Website
Overall Rating 11110.5 4.32 / 5 11110.5 4.49 / 5 11110.5 4.58 / 5
Minimum DepositUSD 1USD 5USD 5
Regulation
CySEC CySEC
FCA FCA
FSC FSC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
CySEC CySEC
ASIC ASIC
IFSC IFSC
Trading Desk Type
Trading InstrumentsCryptocurrencies, Forex, MetalsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, BondsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies
Forex Pairs1205157
Crypto Pairs34
Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • 24/7 customer service
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Limited education
  • Limited market analysis
  • Unavailable in Europe
  • Limited base currencies
  • Dealing desk
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11111 5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11110 4 / 5 11110.5 4.5 / 5
Deposit & Withdrawal 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Education & Research 10.5000 1.5 / 5 11110.5 4.5 / 5 11111 5 / 5
Assets Available 11110 4 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
% Lose with this broker 52% 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 69% of retail investor accounts lose money when trading CFDs with this provider
Leverage2000:11000:1888:1
Spread0.1 pips0.0 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Zero (Standard)
  • Zero (Standard)
  • XM Zero (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 , MT5 MT4 , MT5 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Commission Fees Included in Spread 6 USD / lot - Zero Account 7 USD / lot - XM Zero Account

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

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