Exness review: Should you sign up or not? – Broker test

The economy is changing daily, prices fluctuate, and more and more traders are entering the market to take advantage of emerging opportunities. But where there are chances, there are also often risks involved.

This is especially true for most brokers. Unfortunately, not all online brokers are reputable, and even regulated ones tend to have poor trading conditions. This makes it difficult for traders to choose the right platform.

In this review, we take a closer look at the broker Exness. We go into the essential details, conditions, and regulations. Even at first glance, we can say that Exness performs very well compared to other brokers. In this review, you will learn why.

What is Exness? – The broker presented:

With over 140,000 clients worldwide, Exness has become not only a favorite but a household name when it comes to forex trading. There are several benefits that traders enjoy while trading on its platform. These advantages include transparency and a tight spread that offers market competition.

Exness is a forex brokerage firm founded in 2008 to provide digital assets to clients on the platform. Exness is a safe brokerage firm under the supervision of popular financial regulation institutions such as CySEC, FCA, Forest Stewardship Council (FSC), FSA, and the Financial Sector Conduct Authority (FSCA).

Exness has its headquarters in Cyprus – Limassol, to be exact. Today it has not only an office in Cyprus but has spread to other parts of the world, establishing offices in those parts. These offices are in the UK, South Africa, the British Virgin Islands, and Seychelles. Thanks to its different branches, Exness performance is swift.

Being an old forex broker in business, it can provide its traders with unique trading experiences. The broker today has MetaTrader platforms that offer trading comfort to clients. A simple registration process and a user-friendly platform are one of the features which make this company remain relevant even today.

• Founded in 2008
• Biggest forex broker by volume
• Present in multiple countries
• Multiple regulations
• Multilanguage support for clients

Is Exness under secure regulation?

This is a question that anyone who wants to join a forex broker should ask. Of course, Exness is under regulation, as seen above. FCA, along with the other financial regulators, monitors the firm’s operation. By monitoring, the financial regulators ensure that Exness operates to give its clients the best trading experience.

As part of the newest regulators, this forex broker has FSCA. FSCA is a financial verification company that operates in South Africa. This means that South African traders can trade on the broker and have trading safety. 

Regulatory bodies serve as a means of protection for traders. They also provide security while trading because traders can be sure that Exness is not a scam just here to steal their money. The broker operates transparently, not having any hidden fees or charges. So far, the reviews about its platform’s operation have been positive.

Exness is regulated by:

• FSA (Seychelles)
• CBCS (Curaçao and Sint Maarten)
• FSC (British Virgin Island)
• FSCA (South Africa)
• CySEC (Cyprus)
• FCA (United Kingdom)

Review of Exness trading offers and conditions:

Available trading platforms:

Trading on the platform of Exness is smooth and easy. Traders can access MT4, MT5, Web Trading, and Mobile Trading platforms. Having the MT4 and MT5 platforms allows the platform to have a user-friendly interface. MT4 and MT5 are well known for their ability to perform more than one function for their traders.

Mobile trading means users can access the trading platform on their mobile phones. Trading on your mobile device is very easy and convenient to use. The mobile trading platform is convenient because phones can be carried anywhere, and the platform has a simple interface that makes the trading journey kick off with easy steps.

If you’re just starting your forex trading journey, this broker allows you to perform ‘social trading’. What it means by social trading is that you can copy other trader’s trading styles, although you will have to pay an amount. Trading for new traders is now much easier because of this tool on Exness’ trading platform.

Account types in Exness forex broker

Exness is designed to have different account types to fit the trading experience of traders that want to trade on its platform. After creating your account by filling in the necessary details, you will have access to a demo account. This demo account is necessary for new traders and old ones too. With the help of the demo account, traders can understand the interface.

After opening and verifying your trading account, you will have access to your live account as a trader. The live account available on Exness is five (5) in total. All have different spreads and minimum deposits for traders to start their trading journey. Below is a list of the different trading accounts to choose from.

1. Standard Cent

This is the first account. The first account is because this account is considered the best for new traders on the platform. Standard cent accounts offer the highest leverage for traders, and the spread is just what is good for new traders on the platform. Users of this account can deposit as low as $1, and the spread starts from 0.3 pips. This is indeed a good starting point for new traders.

2. Standard Account

This account type also offers many benefits to the users. The account is called ‘standard’ because it suits almost every trader. The trading fees, minimum deposit, and overall trading experience of this account are suitable for almost everyone. The standard account offers a minimum deposit of $1 and a spread of 0.3 pips.

3. Pro Account

As a professional, you may want to go for this account because its trading experience is wider than the standard cent and standard account. This account type offers a tighter spread which starts from 0.1 pip. Users of this account type can access varieties when it comes to trading assets, including commodities. Pro account users can make deposits from $200. 

4. Zero Account

Offering users trading with no fees makes this account used by professionals and experts. The spread pip of this account is incredibly tight, making the market competitive. Zero accounts have a minimum deposit of $200, making the deposit low and affordable for those professionals who want to use this account.

The zero account is the ECN account and offers even more trading assets and currency pairs than the other accounts. Transaction on the zero accounts is swift.

5. Raw Spread Account

This is the last live account type that traders can choose. The account is relatively new because it came about in 2019. However, traders enjoy a tight spread that is not as tight as the ECN account. The minimum deposit is $200; traders enjoy the leverage that comes with this account.

Financial assets available on Exness:

With a technologically advanced platform, Exness can offer users multiple trading assets to expand their investment portfolios. No matter the account type that the traders choose, they have enough assets to choose from. Since the firm’s platform is user-friendly, accessing and trading assets is simple. Below are assets that are available on Exness.

Cryptocurrencies

On the platform, traders can access different cryptocurrencies they use to trade. Some of these cryptocurrencies include – Bitcoin, Ethereum, and Bitcoin. Traders have up to 35 cryptocurrencies at their disposal.

Crypto assets:	35+
Leverage:	Up to 1:400
Spreads from:	0.0 pips (depending on account type)
Execution:	Instant
Availability:	24/7

Indices

Indices are assets that traders can access. Exness allows traders to trade with over 12 of these financial assets.

Index assets:	12+
Leverage:	Up to 1:400
Spreads from:	0.0 pips (depending on account type)
Execution:	Instant
Availability:	Stock exchange opening hours

Energies

The energy commodity on the platform is varied. Users have access to USOil energy and UKOil. Besides these two, traders can use other energy instruments to trade.

Energy assets:	3+
Leverage:	Always fixed margin
Spreads from:	0.7 pips (depending on account type)
Execution:	Instant
Availability:	Stock exchange opening hours

Stocks

If you’re interested in becoming a stockholder in some of the biggest companies out there, Exness has a variety of stocks that users can select from, such as Tesla, Apple, and more.

Stock assets:	100+
Leverage:	Up to 1:20
Spreads from:	0.0 pips (depending on account type)
Execution:	Instant
Availability:	Stock exchange opening hours

Forex

Also, metals on this broker can be used to trade with the help of currency pairs. There are over 96 currency pairs available on the broker.

Forex assets:	100+
Leverage:	Up to 1:2000+
Spreads from:	0.0 pips (depending on account type)
Execution:	Instant
Availability:	24/5

Trading fees on the Exness trading platforms

The account type you pick is a major determinant of your fees. For example, traders have no commission fees using the standard cent, standard, and pro accounts. At the same time, those using the Raw and Zero account are charged $3.5. Trading hours also determine the fee you receive. 

The minimum deposit for each Exness account type, as seen above, differs. However, no matter the account type you choose, you will not be charged extra. Exness does not charge for withdrawals, which makes the platform user-friendly. It is good that as a trader, you check the payment method you are using as some providers may attract fees.

Exness fees:

• Additional commissions are paid with the Raw and Zero account ($ 3.5 per 1 lot trade)
• Additional spread is charged in all Standard accounts
• Overnight fees of open positions (swap) depending on the asset you trade
• No withdrawal fees
• No deposit fees

Account type:	Trading cost:
Standard Cent	Spreads start from 0.3 pips, no commission
Standard Account	Spreads start from 0.3 pips, no commission
Pro Account	Spreads start from 0.1 pip, no commission
Zero Account	Spreads start from 0.0 pips, commission from $0.2 each side per lot
Raw Spread Account	Spreads start from 0.0 pips, commission up to $3.50 each side per lot

Test and review for Exness trading Platforms

Exness has several trading platforms that offer numerous trading benefits to traders. Below is a list of the trading platforms and their details:

• MetaTrader 4
• MetaTrader 5
• Web Trading
• Mobile Trading

MetaTrader 4

The MT4 is a vintage platform that has been in use for a long time. MetaTrader 4 platform helps the trading experience be unique, making the trading experience easier and faster. Traders can make their trading bot. The MT4 platform has a demo account that users can access anytime. With 30 trading indicators, trading is now much easier.

MetaTrader 5

MetaTrader 5 is not as old as the MT4, and it is even more advanced than it. It has a higher number of trading indicators (38), allowing traders to have better trading plans. The MT5 platform allows the brokers to access the demo account. The demo account, like in the MT4, will not expire. If you like to follow a plan, the platform has a calendar that traders can use to make economic plans.

Web Trading

This platform is great for desktop users and has a simple interface that allows the trader to navigate easily. Besides the easy navigation web trading platform comes with the MT4 and MT5, from which traders can select one. However, web trading is considered by some traders not to be as quick as the MT4 or MT5 platforms. Web trading does not have indicators that it comes, which is another factor that makes it not advisable to use.

Mobile Trading

Users of phones, as pointed out above, have the maximum usage. This is considered because the platform is flexible to use. It comes with a mobile application that can be downloaded from either the Google play store or the Appstore for iOS devices. Since the platform has both MT4 and 5, traders can create their bot, which will help strategize their trading. The mobile trading platform allows traders to customize parts of the platform.

How to trade on the Exness platform – Tutorial

For you to start trading on the Exness platform, you must, first of all, create an account. Creating an account is simple, only requesting you to provide important documents and your name, but this will be looked at elsewhere in this review. After creating your account, Exness will provide you with a demo account.

The demo account does not expire, so it will be an opportunity for you as a trader to learn how the broker’s platform works. A demo account is a useful tool for a new trader. Make sure that you optimize its use. Once you think you are ready for the live account, you can head on to it.

Before you start trading, check the account types to see which benefits your trading experience. Once you have picked the one you want to start with, go ahead and make a deposit. Every account has a minimum deposit that users can put into the account. You can then go ahead to start trading.

How to trade Forex

Forex trade is one of the most popular tradable assets on the platform. Trading forex on the platform can be done easily with the following steps.

Step 1 – Create your account

The first thing you need to do to start trading forex on Exness is to create your account. The registration process does not take time. After registration and verifying your account, you will be able to access your account fully.

Step 2 – Deposit money

After your account creation and verification, the next thing to do is to deposit money into your trading account. Depending on the account that you are making use of, there is an Exness minimum deposit that you can make into the account. Once you have funded your account, you will be able to trade.

Step 3 – Select a platform

After depositing, the next thing you need to do is to select your preferred trading platform. Choose whether it is the MT4 or MT5, or the web trader. 

Step 4 – Choose a forex asset

To start earning money, you must select an asset that you will use to open and close trades. This is important because you can not earn money without choosing a digital asset. Exness has different forex assets that one can choose from.

Step 5 – Trade

Once you have selected the trading asset of your choice, you can then go ahead and start trading. Opening and closing trade, watching carefully the trade you have opened and earn your profit. The steps are this easy.

How to trade cryptocurrencies

This broker offers a whole week of the cryptocurrency market. This means that traders have access to the cryptocurrency market every day of the week. Let’s see how you can start trading cryptocurrency in a few steps.

Step 1 – Create your account

This is the first thing you are supposed to do before trading cryptocurrency on Exness. Open and verify your account to proceed to the next step. Once you have opened an account, you are set to either deposit money or trade using the demo version. 

Step 2 – Deposit money 

After creating your account, deposit an amount into it. The amount cannot be less than the minimum deposit for your account type. When trading, especially if you are just starting out, it is safer to start with an amount you can forfeit. You don’t want to trade using your rent, money for mortgage payments, school fees, or any other important funds. 

Step 3 – Select a platform

Once you have successfully deposited your desired amount into your Exness trading account, you have to select a trading platform.

Step 4 – Choose your cryptocurrency

Exness offers crypto traders a wide range of cryptocurrencies to choose from. Before choosing, it is advisable that you carry out some amount of research on the coins you want to trade with. This way, you understand the history of that particular pair, how the profit margin has been and what the risk level is. There is no reason to go into any type of trading without research and adequate information. 

Step 5 – Trade

Finally, this is the part where you trade the coin you have chosen in the market. You can either trade against the cryptocurrency or for it. If you are buying a particular crypto pair, it means you are saying that the price will go up, favoring the base coin (bullish market). While if you are selling a currency, you are implying that the market price will go down, favoring the quote currency. 

How to trade stocks

With CFDs on stock, traders can profit from trading stocks on the platform. After opening and verifying your trading account, you need to credit your trading account with money. Select a platform, choose the CFD Stock of your choice, and then proceed to trade.

Copy Trading on Exness

Recently, Exness joined other trading platforms on the copy trading ride as they launched the addition in March 2022. If you have been trading for a while, you have probably heard of copy trading or social trading in the forex trading community. The whole concept of copy trading is that you benefit from following a professional trader on the Exness platform. 

This implies that any trading move the professional trader makes is automatically replicated on your account. Unlike other platforms with conventional trading rules, the Exness platform created its own special rules. Several traders using the Exness platform for copy trading have confirmed that rules are much easier and simpler to practice. 

Some of the benefits of the Exness copy trading platform include 

• Exness copy trading platform is reliable and well regulated. 
• The platform is easier to use 
• Exness provides a wide range of trading strategies for clients to follow. On average, the Exness platform houses about 40,000 active clients, mostly professional traders. 
• High-quality traders
• Zero minimum position volume

As expected, there are also some disadvantages to practicing copy trading on the Exness platform.

• There is no provision for strategy equity checks. 
• Unlike other copy trading platforms, there is no such thing as stopping loss or taking profit to help with risk management. 

How to Set up Copy Trading on Exness

Now that you understand what copy trading is and how it works on the Exness platform, here are some easy steps to help you set up copy trading and benefit from professional traders. 

1. Download the Exness Copy trading app 
2. If you already have a registered account with Exness, you don’t have to sign up from scratch. Sign in with your email (registered) and your password. 
3. If you do not have an account with Exness, you must sign up to get in. Click on ‘Get started,’ choose your country, and type in your preferred email and password. You also need to set a code for unlocking the app, or you can go with the biometrics option. 
4. To deposit, tap on the Account tab, click on Make deposit, choose your payment method and then follow the available prompts to complete your transaction. 
5. Once you are in, head to the Strategy main area. Here you can glance over various strategies by different criteria. 
6. To copy a strategy, click on ‘Start Copying’ 
7. Select the amount you want to invest 
8. All you have to do now is monitor your trade to see how the strategy plays out.

How to open your trading account

Opening your trading account with Exness is simple. No matter the platform or device you are on and the country you are from, the process is the same. Opening an account means registering as a trader on the Exness trading platform. When you go to the site, at the top right, you will see a ‘login’ and an ‘open an account button. Click on the open an account button.

Once you have, what you will see next are fields that you are expected to fill in with your detail. The information you will have to include your email, where to place your residency, and a password field. Make sure that the email you are arousing to create your account is accessible because, during verification, you will need it.

After creating your account, as a new trader, you will have access to the demo account. It’s good that Exness has a demo account because it lets you know how the platform is before you deposit money into your live account. The demo account will not expire and can still be used even after your live account is ready.

Account verification

When you access the demo account, you are only a step away. The broker will request that you verify your account. You must submit the two documents Exness will need to verify your account. You will only be restricted to the demo account without providing the documents. 

For verification, users must provide a means of identification (examples include a National Identity Card, National Passport, or Driver’s license). Users will also need to provide proof of residency – the most common is the utility bill. Upon providing these documents, it will take some time for your account to be verified. Once it has, you may deposit money for trading.

Once you have funded your account, you can start trading with your live account.

• Verify your account in a few minutes
• Insert your personal details
• Upload a photo or scan of an ID document
• Upload a photo or scan of an address verification document

How to login to Exness

To log in to your already existing account, the procedure is easy. No matter the phone or device you are using. To log in to your trading account, you just need to click on the login button at the top right of the screen. If you are arousing the mobile app, the login should just be at the button.

You must fill the empty fields with the right information when you click on them. Exness just needs you as a writer to provide your email. The email you are entering should be the one you used when creating the account. After entering your mail, enter your password and click on ‘continue.’ If the information you filled in is correct, you should be able to access your trading account.

If you have forgotten the password, you can click on ‘forgot password,’ which will help you access your trading account. Once you have, a verification link will be sent to your email. Go to your email and then click the link. The link will enable you to create a new password.

How to deposit money on Exness

With the use of some of the payment methods available, traders can make free and quick withdrawals and deposits. To deposit money into your trading account, you must have a setup account that has been verified. Only verified Exness accounts can deposit money and start trading with their live account.

When you are logged in, you will need to click on deposit and then, in that section, enter the figure that you want to deposit into your trading account. Click on the ‘confirm’ button that appears to acknowledge the process. After, you can select the payment method of your choice. Some of the payment methods that this broker provides include the following:

• Card method that is you will need not use either a Master or a Credit card.
• Cryptocurrencies, including bitcoin and Ethereum
• Wireless transfers through your bank
• Electronic wallets such as Neteller, Skrill, and more

After selecting the payment method, click on ‘confirm the deposit’. Deposit on Exness does not waste time. Once you click the button within several seconds, your deposit should reflect on the platform. Deposits have no fees, so you can make as many deposits as you want.

Remember that there’s a minimum amount you can use to fund your trading account. This amount varies depending on the kind of account that you are using. 

How to withdraw funds on Exness

After making your profit, you next want to remove part of it and do something, whether it is solving a life problem or anything at all. The Exness withdrawal procedure is simple to go about. Click on the withdrawal button, and enter the figure you want to withdraw from your trading account.

When you have typed in the figure, select the confirm button to confirm your withdrawal. You must select one of Exness’s payment methods to receive the money. With a selection from one of its payment methods, the broker will send your money to you through the medium you have selected.

Unfortunately, the withdrawal procedure is not as quick as the deposit, which immediately receives the cash you have funded in your account. The withdrawal method will take up to 3 days before your money will reflect. The three days will have to fall within business days and not weekends. That is the only way you may withdraw your money. 

The payment methods are just the same as the deposit. Exness does not charge for withdrawal; however, you should ensure that the method you use will not charge you. If you seem to have encountered a problem during your withdrawal, you should call customer support to help you solve the problem you are facing. The same should go for any problem you encounter on the platform.

• Withdrawal duration can take from a few hours up to 3 days
• No withdrawal fees
• The broker might ask for payment method verification

Customer support for Exness traders

On the positive side, Exness provides its traders with enough support. The first support that it gives to its traders is FAQ support. Frequently Asked Questions are some of the most thoughtful questions clients on the platform want to ask. Most of the FAQs have the answers already that a client needs. This means they do not need to go through the stress of the customer support team.

You can call customer support if you do not find what you need in the FAQ section. For easy communication, Exness provides customer support that communicates in 14 languages to clients that may have questions. Customer support does not work around the clock every day as it is closed on weekends. However, it is not the same for the English language, which has 24/7 support. Call – +800980600

The site has a virtual assistant with whom you can chat if you wish to discuss any issue. An email is also available on the website – [email protected]. The mail can be reached 24/7. 

Customer care number:	Email support:	Live chat:	Availablity:
+800980600	[email protected]	Yes, available	24/7

How to learn trading with Exness:

With the help of its various educational resources, learning how to trade on Exness has been easy. As mentioned above, Exness has an academy with materials that traders from all over the world can learn. Besides that, the platform has a blog with various articles written by its team to help traders understand trading on the platform.

A plus to it is the demo account which is accessible immediately after you create your account. All of these make learning how to trade on its platform easy for newcomers to adapt. Exness has a news hub and a Web TV that provides updates concerning trading issues and market changes.

Traders have access to webinars and live events that teach people how to trade on the platforms and information on some of the best assets they should not miss out on. Traders who pay attention to these useful resources will quickly be able to grasp how trading works on this firm’s platform.

In what countries is Exness available?

Exness is available for traders in most parts of the world, but still, because of its regulations, it cannot expand as much as it should for now. They are licensed, which guides their operation in each region that it exists.

Some of the countries the clients can trade with Exness include:

• Kenya
• Chile
• Brazil
• Japan
• India
• Vietnam
• Indonesia
• South Africa
• Nigeria
• China
• Curacao
• Thailand, to name a few. 

However, clients from the following countries are not accepted to trade on the platform – Australia, Canada, Malaysia, Russia, and North Korea. Traders in this region, unfortunately, do not get an opportunity to trade on Exness’s platform.

Advantages (pros) of using the Exness trading platform:

Below, the advantages of using Exness include the following:

• Traders enjoy trading with a very low commission rate
• The broker offers traders enough choices to make in choosing an account type. The accounts have what makes them different from the others.
• Both the withdrawal and deposit attract no fee, and this makes trading on the platform as cheap as possible
• A demo account comes with the trading platform
• Exness offers traders educational resources which will enable them to improve their trading skills.
• The broker offers a very tight spread in each of the accounts. This makes trading interesting.
• A different number of assets are accessible.
• A user-friendly platform with various resources to help understand it better
• The broker has social copy tech available
• It is under the regulation of popular financial bodies, which supervises its operations internally and externally.

Disadvantages (cons) of using the Exness trading platform

Though the broker has many advantages, it also comes with disadvantages.

Part of these disadvantages includes the following:

• Some clients, unfortunately, cannot trade on the platform. This causes restrictions for those clients.
• As a result of the number of regulatory bodies, the firm’s operation takes a long process
• Customer support for other languages does not work 24-7
• The research materials are not considered to be enough

Is Exness a reliable trading platform?

Putting together all of its features, this broker has proven to have a reliable trading platform. Exness has a free demo account accessible as soon as the trader creates their account. It has a minimum deposit for the standard and standard cent accounts which is affordable for most people.

With offices besides the HQ, Exness can perform fast and spread out its reach. Top of the notch is that the firm is under the regulation of CySEC, FSA, FCA, and some other financial regulatory bodies. These make the broker a secure and reliable trading space for traders.

You cannot get stuck using this broker because they have provided enough resources to teach new traders how to start trading on the platform. Exness continues to improve in its technology, making the platforms more user-friendly. Its transparency allows trading to be fair.

Conclusion: Exness is a legit broker for traders

Exness trading platforms allow traders to have quick transactions. The broker has regulations, and the account types allow one to choose an account that suits them. Thanks to educational resources and webinars, traders can learn forex trade easily.

The broker allows copy trading, a good tool for new traders.

As part of the tools available on the platform, Exners has a calculator, converter, and VPS hoster. All of these tools allow trading easier. The VPS allows stability in connection while trading on the platform. This allows smooth operation while trading on Exness.

Having awards shows that Exness is a good online broker. The customer support is encouraging, having 14 languages to help tackle customer problems. Customers enjoy low trading fees while trading with any of the trading platforms.

• More than 3 regulations
• Low minimum deposit of only $ 1
• Different account types for traders
• Spreads from 0.0 pips
• Fast execution and raw spreads
• High leverage 1:500
• Personal support in more than 14 languages
• Deep liquidity and no requotes

FAQs – Frequently Asked Questions: