Exness Forex Broker Broker Review

Justin Freeman

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

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.

This way, the brokerage has secured the regulatory backing of three jurisdictions, two of which are indeed serving some major markets.

That considered, its reputation is hardly optimal. There are many problems with the operation from the perspective of traders. Most complaints focus on the withdrawal system/procedures, which are allegedly quite focused on denying withdrawal requests.

Stop-loss hunting and slippage is part of the Exness situation as well. While Exness support seems helpful and knowledgeable, many traders have complained about its inefficiency.

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

The “global” side of the brokerage is handled by a certain Exness Limited, based in St Vincent and the Grenadines. This company is a locally registered International Business Company. It is licensed and regulated by the local authorities.

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

Exness UK Ltd. is the FCA-regulated side 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 Italy’s CONSOB and Spain’s CNMV.

It is clear from the above that the regulatory status of the broker is quite outstanding. CySEC and FCA regulation means that it is fully MiFID-compliant, which also means that it should in fact be a trustworthy trading destination. It should also offer some attractive guarantees for traders.

What is the unique selling point of the brokerage? Why should you sign up and make a real money deposit with it?

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

Ronaldo has been playing for Italian side Juventus for a while now though. Either the information is out of date, or Exness has some sort of special sponsorship deal going with the football star.

The broker prides itself on its allegedly superb order execution, its tight spreads, commission-free deposits and withdrawals. Long story short: its trading conditions are theoretically very attractive.

Exness also promises direct access to interbank liquidity – which is also a major asset.

Environmentally conscious traders will be pleased to learn that the broker supports  couple of WWF projects aimed at the protection of polar bears and Persian leopards.

What traders and would-be traders must know about Exness is that it is mostly a DD (Dealing Desk) broker, meaning that it acts as a market maker.

While it offers ECN access too, such accounts can only be had at Exness Ltd.

Exness Website Screenshot

The Various Exness Account Types

The account type picture is a little hazy at Exness. The available selection depends on the broker branch one registers with, as well as the trading platform.

Exness Limited clients have the most options. MT5 accounts are only available on 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 above detailed Mini Account, the Cent one features a minimum deposit of just $1, allegedly unlimited leverage and spreads from 0.3 pips.

The ECN Account requires a minimum deposit of $300. The maximum leverage is 1:200 and spreads start from 0 pips. There is a $25 commission charged on every $1 mln traded.

The ECN account offers ECN execution and it does not have the broker acting as a market maker.

The Mini Account is available to Exness Ltd. and Exness CY Ltd. clients.

It too requires a minimum deposit of $1, with spreads beginning from 0.3 pips.

The Classic Account is available on all broker branches. It is therefore the “flagship” offer of the brokerage in this regard.

On MT4, it requires a minimum deposit of $500 and it apparently offers unlimited leverage. Spreads on this account type start from 0.1 pips. No trading volume-linked commissions are charged.

Exness Trading Platform Software

As made 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 off the Exness website, and it can be installed in a couple of minutes. The platform is available for Windows, Mac, Linux as well as Android-based devices.

MetaQuotes’ most popular trading platform comes with scores of preinstalled technical indicators, drawing tools and supported time frames. It offers a Web Terminal option too, together with EA support. The broker features a VPS hosting option, so EAs can indeed be put to good use.

MT5 is advertised as the improved version of MT4, although that is generally not true for this platform. It is indeed designed to serve different purposes than its predecessor, and as such, it is hardly its direct competitor.

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

Hedging is supported on MT5. The platform features some 21 time frames and there is a built-in FX calendar.

Exness MT4 Platform Screenshot

Market Coverage Provided by Exness

The brokerage is focused on Forex. To this end, it offers some 38 currency pairs, with some rather decent trading conditions. On the EUR/USD pair for instance, spreads start from just 0.5 pips on the co.uk MT4 Classic Account.

The margin requirement on the same pair is 3.3%.

The spread on some more exotic pairs can be quite daunting though. On the USD/MXN for instance, it is a handsome 70 pips.

Exness Deposits and Withdrawals

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

We are talking about Wire Transfer, Bank Card (VISA and MasterCard), Neteller and Skrill.

Of these methods, all but the Wire Transfer, are considered to be “instant”. Wire transfers take 3-5 business days to process.

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

For withdrawals, the minimum is $40 for wire transfers. None of the supported methods charge any sort of fees.

Withdrawals are said to be instant on Neteller and Skrill.

Exness Review Conclusion

Exness looks like a solid trading destination. It is well regulated and the platforms/account options it offers are fairly decent as well.

That said, its reputation-related issues simply cannot be overlooked. There are way too many complaints out there to ignore, and they concern some of the most important operational aspects.

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

Justin Freeman

Latest news

NZDUSD Daily – Bears back on the battlefield?
Written on 28/09/2020 by Theunis Kruger, FX Trainer at FXTM NZDUSD on the D1 time-frame was in an extended uptrend until the 18th of September when a higher top was recorded at 0. Read more
EUR/JPY Could Face 124.43 Next, 125.00 Level in Focus
The pair containing the single European currency and the Japanese yen has been in the spotlight for various reasons recently. Read more

Safest Forest Brokers 2020

Broker Info Best In Customer Satisfaction Score
#1 ForexTime LogoYour capital is at risk Founded: 2012 Global CFD and FX broker
Number One Broker
Best FOREX BROKER Visit broker
#2 Your capital is at risk Founded: 2012 Global Forex Broker
Number One Broker
Best Trading App Visit broker
#3 Forex Broker Pepperstone LogoYour capital is at risk Founded: 2010 Global Forex Broker
Number One Broker
Low minimum deposit Visit broker
#4 Your capital is at risk Founded: 2006 Globally regulated broker
Number One Broker
#5 BlackBull MarketsYour capital is at risk Founded: 2014 Global Forex Broker
Number One Broker
BEST SPREADS Visit broker

    Forex Fraud Certified Brokers

    Oinvest Small Logo
    VantageFX Small Logo
    Plus500 Small Logo
    BlackBull Markets Small Logo
    ATFX Logo
    OctaFX Logo
    Exness Small Logo
    skilling logo
    XM Logo
    IQ Option Logo
    City Index Logo
    Oanda Small Logo
    FXTM Logo
    HYCM Logo
    Forex.com Logo
    LegacyFX Small Logo