Exness Review
Introduction:
Exness is one of the renowned brokers with hundreds of active clients and trading volume in trillions. Exness offers a wide range of assets such as Forex, Metals, Energies, Crypto and more. Additionally, it has several account types available to cater to the diverse needs of individuals. The best thing about Exness is that it is regulated by some of the best regulatory bodies, including CySEC (Cyprus Authorities and Exchange Commission, Cyprus) and FCA (The Financial Conduct Authority, United Kingdom). The rising popularity of Exness is mainly because of its low commissions, instant execution and easy withdrawal of funds. A demo account is also available, which is useful for both novices and professional traders.
However, since Exness does not provide many “how-to” resources, we recommend Exness only for traders who have little knowledge about the industry. Although, you can sign up with Exness even if you are a newbie. Note that you will have to learn the basics somewhere else. But advanced traders will definitely benefit from the service offerings of Exness.
Features of Exness:
- Quick Withdrawals: One of the significant features of Exness is that it allows instant withdrawals. Traders can make withdrawals within seconds, which is something Exness boasts of. Furthermore, there is no need for manual processing of transactions, and withdrawals can be made instantly, even on weekends.
- Free VPS Hosting: For fast and reliable execution, Exness offers free VPS hosting. It ensures there is uninterrupted internet coverage that will safeguard you against issues that can interrupt your trading.
- Comprehensive Price History: Exness enables its clients to have access to a historical archive of the price tick data. All you need to do is choose an instrument and time period, and you will be able to download a zip file with previous bid/ask prices.
- Transparent Broker: Exness is considered to be a transparent broker. Apart from being regulated by several regulatory bodies, it also discloses its reports to clients so that they can know about audits and performance indicators.
- MetaTrader 4 and 5: Another excellent feature of Exness is that it is compatible with both MT4 and MT5 platforms. Both of them are the leading trading platforms and offer a plethora of features to users. Not only do they allow traders to run trading robots such as EAs, they also help to analyze financial markets and conduct advanced trading actions. Furthermore, traders can easily copy the strategies of other investors without much hassle.
- Trading Instruments: Exness stands out from its competitors because of its innovative and advanced technology. Exness allows trading CFDs on cryptocurrencies (Bitcoin, Litecoin, Ripple and more), indices (S&P 500, FTSE 100, Dow Jones Industrial Average and more), stocks, as well as forex. The total number of forex pairs offered is 97.
- Account Types: Exness offers a wide range of account types to choose from. These accounts vary in nature and are designed to suit the needs of all trader types. The six types of accounts available with Exness are:
- Exness Standard Cent
- Exness Standard
- Exness Pro
- Exness Raw Spread
- Exness Zero Account
- Exness Islamic (Swap-Free) Account
Trading Conditions of Exness:
Leverage:
Exness provides its clients access to leverage as high as 1:2000, which is the highest as compared to other brokerage firms. It also includes a trading calculator for calculating the maximum leverage as well as margin requirements on the basis of equity available in the trader’s current account. By offering leveraged products, Exness offers traders a chance to improve their profitability allowing them to double the amount they invested. However, leverage can also transpire into potential losses. Hence, it is crucial for traders to know, particularly new ones, that leveraged trading is a risky business.
Trading Fees:
Exness charges trading fees on the basis of the account type you choose. Commission fees for a Raw account start from $3.5 each side per lot. In addition, Exness also charges an overnight fee if the positions are held open for more than 24 hours.
Also, the minimum initial deposit requirements for the Standard account is based on the payment system. For the Raw Spread account, Zero account and Pro account, a minimum deposit of $500 is required. There is no deposit/withdrawal fee, making Exness a cost-effective trading platform.
Deposit and Withdrawal Options:
With Exness, investors’ funds are processed immediately. Thus, the traders can easily transfer their funds to and fro without any hassle. Some of the features of Exness’ deposit and withdrawal options are:
- Visa and Master cards are accepted. However, withdrawals can take up to 3-5 days if bank cards are used.
- Local payment solutions such as Bitcoin and USDT crypto solutions are also available.
- Traders can hold funds in any of the 80 supported fiat currencies and specialized metal accounts.
Pros and Cons of Exness:
Pros:
- 100+ currency pairs supported
- Lowest commissions
- Zero spread account available
- A wide range of trading accounts available
- Quick deposit and withdrawal methods
- Regulated by top regulatory bodies
- Free demo account available
Cons:
- The choice of markets is narrow.
- US citizens are not allowed.
- Limited research materials
- Minimum deposit requirements for professional accounts are high.
Conclusion:
Exness is an award-winning broker with competitive spreads and low costs. It is also known for offering attractive trading plans, hassle-free registration and minimal trading fees. Thus, if you are looking for a broker who can easily help you maximize your profit with a minimum impact on your wallet, Exness is the way to go.
Exness is an apt choice for beginners who are looking for a reliable broker to start their trading journey. What makes Exness different from other brokers is its user-friendly website which is accessible by all, irrespective of how old or new you are to the trading business. Its customer support is reliable and efficient. The platform is widely recognized worldwide, and its website operates in 14 different languages, which has helped it make a mark in the industry.