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Broker Information

  • Company Name: Exness
  • Founded: 2008
  • Country: Cyprus
  • Phone: +35725030959

Platform Info

  • Platform: MT4, MT5
  • Dealing Desk: No
  • Web Based: Yes
  • Mobile Trading: Yes

Broker Services

  • Regulators: CySEC, FCA
  • Minimum Deposit: $0 for Mini and Cent, $2000 for Classic, $300 for ECN
  • Leverage: up to 1:unlimited
  • US Clients: No
  • Funding Methods: Bank cards, Neteller, Skrill, and other local and international EPS
  • Pairs Offered: Majors, Minors, Exotics, Cross-pairs

Exness Review

Launched in 2008, the Exness Group is a true veteran of the online FX / CFD industry. Its reach extends to most of the world. It currently maintains offices in three different locations, where the brand is represented by three different corporate entities.

In this way, the brokerage has secured the regulatory support of three jurisdictions, two of which are at the service of some important markets.

That considered, its reputation is not optimal. There are many problems with the operation from the perspective of the merchants. Most complaints focus on the recall system / procedures, which are purportedly focused on denying withdrawal requests.

Hunt and stop-slip slippage are also part of the Exness situation. While Exness support seems useful and well informed, many operators have complained about its inefficiency.

As mentioned, the corporate fund of the operation is extensive and intricate.

The “global” side of the brokerage is managed by a certain Exness Limited, based in St. Vincent and the Grenadines. This company is a locally registered international business company. It is authorized and regulated by local authorities.

The branch office of the EU-focused corridor is supported by Exness CY Limited, based and registered in Cyprus. The company registration number is HE 293057. CySEC regulates this equipment. The operator’s CySEC license number is 178/12.

Exness UK Ltd. is the side regulated by the FCA of the brokerage. The registration number of this company is 088611481. The FCA registration number is 730729.

In addition to the above, Exness is also registered with the CONSOB of Italy and the CNMV of Spain.

From the above it is clear that the regulatory status of the corridor is quite outstanding. The regulations of CySEC and FCA mean that it is fully compatible with MiFID, which also means that, in fact, it should be a reliable commercial destination. You should also offer some attractive collateral for merchants.

What is the only point of sale of the brokerage? Why should you register and make a real money deposit with him?

According to Exness.co.uk (and Exness.eu for that matter), the broker is a sponsor of Real Madrid. According to the same page, he also sponsors Cristiano Ronaldo, possibly the best soccer player in the world.

Ronaldo has been playing for the Italian team Juventus for a while. Or the information is outdated, or Exness has some kind of special sponsorship agreement with the soccer star.

The broker prides himself on his allegedly excellent order execution, adjusted spreads, non-commission deposits and withdrawals. In a nutshell, their trading conditions are theoretically very attractive.

Exness also promises direct access to interbank liquidity, which is also an important asset.

Traders concerned about the environment will be pleased to learn that the broker supports some of the WWF projects aimed at the protection of polar bears and Persian leopards.

What traders and potential traders should know about Exness is that it is primarily a DD (Dealing Desk) broker, which means that it acts as a market maker.

While it also offers ECN access, these accounts can only be had at Exness Ltd.

Exness Account Types

The image of the type of account is a bit confusing in Exness. The selection available depends on the branch of the agent with which you register, as well as the trading platform.

Exness Limited customers have the most options. MT5 accounts are only available at that branch.

There is a Mini Account offered, with a minimum deposit requirement of just $1. The maximum leverage on this account type is apparently 1:2,000. Spreads start from 0.3 pips.

The MT5 Classic Account features better spreads (from 0.1 pips) and a minimum deposit of $2,000.

As far as the MT4 platform is concerned, there’s a greater diversity of available account types.

The Cent Account and the ECN Account are only available for Exness Ltd. traders.

Like the Mini Account detailed above, the Cent one has a minimum deposit of only $ 1, supposedly unlimited leverage and extends from 0.3 pips.

The ECN account requires a minimum deposit of $ 300. The maximum leverage is 1: 200 and spreads start at 0 pips. A commission of $ 25 is charged for every $ 1 million negotiated.

The ECN account offers ECN execution and does not have the agent that acts as the market maker.

The Mini account is available to customers of Exness Ltd. and Exness CY Ltd.

It also requires a minimum deposit of $ 1, with spreads starting from 0.3 pips.

The Classic Account is available in all broker branches. Therefore, it is the “flagship” offer of the brokerage in this regard.

In MT4, it requires a minimum deposit of $ 500 and apparently offers unlimited leverage. The spreads on this type of account start at 0.1 pips. No commissions linked to the trading volume are charged.

Exness Trading Platforms

As is clear above, Exness supports MT4, MT5 and a selection of mobile platforms.

MT4 is the flagship platform of the operation. It can be downloaded for free from the Exness website and can be installed in a couple of minutes. The platform is available for Windows, Mac, Linux and Android-based devices.

The most popular MetaQuotes trading platform comes with dozens of pre-installed technical indicators, drawing tools and compatible time frames. It also offers a web terminal option, along with EA support. The agent has a VPS hosting option, so EAs can be well used.

MT5 is advertised as the improved version of MT4, although that is generally not true for this platform. In fact, it is designed to fulfill different purposes to those of its predecessor and, as such, is not its direct competitor.

The Exness platform version supports an impressive number of outstanding order types, such as: Sell Stop, Buy Stop, Sell Limit, Buy Limit, Sell Stop Limit and Buy Stop Limit.

The coverage is compatible with MT5. The platform has about 21 time frames and there is a built-in FX calendar.

Market Coverage

Brokerage is focused on forex. For this purpose, it offers about 38 currency pairs, with some fairly decent trading conditions. In the EUR / USD pair, for example, spreads start from just 0.5 pips in the classic co.uk MT4 account.

The required margin in the same pair is 3.3%.

However, the spread in some more exotic couples can be quite daunting. In the USD / MXN, for example, it is a handsome 70 pips

.

Deposits and Withdrawals

The broker only admits 4 methods of Deposit / Withdrawal. That said, these methods cover most of the needs traders might have in this regard.

We are talking about bank transfer, bank card (VISA and MasterCard), Neteller and Skrill.

Of these methods, all, except the bank transfer, are considered “instantaneous”. Bank transfers take 3-5 business days to process.

The minimum deposit for bank transfers is $ 10. The same goes for Neteller and Skrill. Via card, the minimum is $ 3.

For withdrawals, the minimum is $ 40 for bank transfers. None of the supported methods charges any type of fee.

It is said that withdrawals are instant in Neteller and Skrill.

Conclusion

Exness looks like a solid business destination. It is well regulated and the platforms / account options it offers are also pretty decent.

That said, your reputation-related problems simply can not be ignored. There are too many complaints to ignore, and they refer to some of the most important operational aspects.

Please note that certain products and / or multiplier levels may not be available to traders in EEA countries due to legal restrictions.

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