Exness Review 2024

General Introduction to Exness

Founded in 2008 by a team of financial and IT experts, Exness is a prominent player in the trading industry. The company is led by CEO Petr Valov, a programming specialist, and is headquartered in Cyprus. Exness also has offices in the United Kingdom, Malaysia, and Singapore.

Recognized as a major force in the industry, Exness boasts impressive trading volumes. In 2019, the platform averaged monthly trading volumes of around $340 billion. By March 2020, Exness had reached nearly $800 billion in trading volume.

As of the latest 2020 report, Exness serves over 100,000 clients globally, with numbers continuing to grow.

Licenses and Customer Protection Mechanisms of Exness

Exness is licensed by two of the world’s leading financial regulatory authorities: the FCA (Financial Conduct Authority) and CySEC (Cyprus Securities and Exchange Commission). Additionally, Exness holds licenses from regulatory bodies in Spain, Italy, Sweden, the Netherlands, and Germany, enabling it to operate in these markets.

FCA License

With an FCA license, Exness is required to keep client funds in segregated accounts held at top-tier banks. The company must also adhere to strict financial transparency and information disclosure regulations set by the FCA and CySEC’s forex trading regulatory frameworks.

Investor Protection

Exness is a member of the Investor Compensation Fund (ICF). This membership ensures that traders are eligible for compensation of up to €20,000, or 90% of their claim, in the event of any issues with the platform.

Trading Platforms at Exness

Exness offers two primary trading platforms, MT4 and MT5, along with dedicated mobile applications. The platform does not have a proprietary trading system but provides essential tools to meet traders’ needs.

1. MT4 (MetaTrader 4)

The MT4 platform can be downloaded for free from the Exness website and is available for Windows, Mac, Linux, and Android devices. Recognized as a leading platform for forex trading, MT4 provides a comprehensive suite of tools for financial market trading.

2. MT5 (MetaTrader 5)

MT5 is an advanced version of MT4, designed for more diverse trading needs. The Exness version of MT5 includes additional order types such as Buy Stop, Sell Limit, Buy Limit, Sell Stop Limit, and Buy Stop Limit. It supports hedging and features 21 timeframes along with concise quote history storage.

3. WebTerminal

WebTerminal is MetaQuotes’ web-based platform that includes all essential functionalities for effective trading. It is compatible with all browsers and operating systems but is currently only available for MT4. MT5 WebTerminal support is not yet provided.

Exness Social Trading Strategy

For beginners or those with limited time and experience in trading, Social Trading on Exness can be an ideal solution. This service allows investors to copy strategies set by experienced traders, enabling them to benefit from their expertise.

Exness provides a range of options for copying other traders, with various filters available, including:

• Low-risk profit strategies
• Most copied strategies
• Highest profit strategies over the last 3 months

This approach allows traders to leverage proven strategies and potentially achieve better trading results without needing to manage trades themselves.

Trading Account Types at Exness

Exness offers two primary types of trading accounts: Standard and Professional. Each of these account types is further divided into specific options to suit different trading styles and objectives.

This approach is advantageous as most forex brokers typically provide only 2-3 types of accounts.

Standard Accounts

• Standard Account: This is the most common account type among Exness traders. It features a very low minimum deposit requirement and attractive leverage (unlimited leverage for MT4 and up to 1:2000 for MT5).
• Standard Cent Account: Ideal for beginners, this account allows for trading in cents, where 1 Cent lot is equivalent to 0.01 standard lot. It offers a very low-risk environment for testing trading strategies while still providing real trading experience.

Professional Accounts at Exness

Exness offers three types of Professional accounts: Raw Spread, Zero, and Pro. Each is designed to meet the needs of experienced traders with different features.

1. Raw Spread Account

Features: The Raw Spread account offers very low spreads, starting from 0 pips for EUR/USD, and competitive commission fees. This account type is ideal for traders seeking minimal spread costs.

2. Zero Account

Features: The Zero account provides zero spreads on most products for 95% of market hours, making it similar to an ECN account. It offers extremely competitive costs and advantages such as diverse product offerings (including forex, crypto, and metals) and unlimited leverage provided by Exness.

Drawbacks: The Zero account has high commissions for trading rare metals and currencies.

3. Pro Account

• Features: The Pro account has higher spreads compared to the Raw Spread account but does not charge commission fees. Additionally, traders can access over 30 popular stock products, including Apple, Amazon, eBay, Facebook, Alibaba, Google, and Nike.

Trading Products at Exness

Exness offers a diverse range of trading products across various asset classes, including Forex, Crypto, Commodities, Stocks, and Indices.

1. Forex: Over 100 currency pairs, including 7 major pairs, minor pairs, and exotic currencies.

2. Metals: Gold and Silver, traded against USD, EUR, GBP, and CAD.

3. Crypto: Five cryptocurrencies available as CFDs: Bitcoin, Bitcoin Cash, Ethereum (ETH), Ripple, and Litecoin, all traded against the US Dollar.

4. Energy: Crude Oil.

5. Stocks: 30 major stocks from global corporations, including Google, Facebook, and Amazon.

6. Indices: 10 indices, including S&P 200 (Australia), S&P 500, US30, and JP225.

Exness provides traders with a wide selection of products, catering to various trading strategies and preferences.

Commission, Leverage, and Spread at Exness

1. Commission

At Exness, commission fees are applicable for the Zero Spread and Raw Spread accounts, starting from $7. For the Raw Spread account, this is a fixed fee, while for the Zero Spread account, it may vary depending on the product.

2. Leverage

Exness offers an exceptional leverage policy with the possibility of infinite leverage, making it one of the highest leverage providers in the forex market. To utilize this leverage, traders must trade at least 5 lots and keep their account balance below $1000. The commonly used leverage ratio at Exness is 1:2000. Higher leverage increases risk, requiring experienced traders to make accurate judgments to avoid significant losses.

3. Spread

Exness stands out with its favorable spreads, especially with the Zero Spread account. Traders can benefit from a zero spread on 30 different products for 95% of trading time. This competitive spread is rarely matched by other brokers.

Deposit and Withdrawal Methods at Exness

One of the key attractions of Exness is its extremely fast deposit and withdrawal processes, which are among the quickest in the forex market. Both deposits and withdrawals are processed instantly with automated procedures, eliminating the need for manual intervention.

Deposit Methods

Exness offers 8 different deposit methods, covering a wide range of popular options:

• Visa & Mastercard
• Neteller
• Skrill
• Local Bank Transfer
• Ngân Lượng
• Bitcoin & USDT
• Sticpay

Withdrawal Methods

Withdrawals at Exness are completed within seconds without manual intervention. Traders can use Local Bank Transfers or Ngân Lượng for withdrawals. The withdrawal process is free, with only a minor exchange rate margin (approximately 0.5%) applied.

Although Exness aims for instant processing, some transactions might take longer, with a maximum processing time of up to 3 hours.

Customer Support Policy

Exness provides dedicated customer support in Vietnam with a responsive team available 24/5, excluding Saturdays and Sundays. Traders can access live chat by clicking the chat button located on the right side of the screen or call Exness’s hotline at 18004974 for assistance, consultation, and answers to their questions.

Conclusion

Exness stands out with several competitive advantages in the market, particularly catering well to the preferences of Vietnamese traders. There are minimal complaints regarding licensing, account funding and withdrawal processes, or customer support. Consider trying out the Exness trading platform to evaluate its trading features and order execution, and make an informed choice. We wish you the best in selecting the most suitable Forex broker for your needs.

If you have any questions, feel free to leave a comment below, and we will be happy to assist. If you find this article helpful, please share it with others who might benefit from this information!