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Exness Review
Updated May 30, 2022
Risk Warning: CFDs are complex financial instruments that carry a high risk due to leverage trading. The vast majority of retail investor accounts lose money when trading CFDs. You should always consider whether or not you can afford the high risk of completely losing your funds.
KEY TAKEAWAYS
- Competitive trading costs
- Unlimited:1 leverage available (subject to account balance)
- Low minimum deposit
- Accounts in 61 base currencies
Regulations and Money Protection
2.0
| Entity Name | Licence & Regulation | Client Money Protection | Deposit Compensation Scheme | Negative Balance Protection |
|---|---|---|---|---|
| Exness (SC) Ltd | Seychelles FSA Licence | ❌ | ❌ | ✔️ |
| Venico Capital Limited | BVI FSC Licence | ✔️ | ❌ | ✔️ |
| Tortelo Limited | Mauritius FSC Licence | ✔️ | ❌ | ✔️ |
| Vlerizo (Pty) Ltd | South Africa FSCA Licence | ✔️ | ❌ | ✔️ |
Entity/Regulation
As off October 2019, Exness ceased its UK and Cyprus regulated retail operations, making it impossible for new retail customers to open a trading account with any of both entities. Currently, Exness (Cy) Ltd and Exness (UK) Ltd are only available for professional traders. Therefore, we will review the entities allowing traders to open new accounts - the Exness Group does not provide services to residents of several jurisdictions, including the USA, UK, Australia, New Zealand and Europe.
- Retail traders can open a live account with Exness via several entities, mainly the Nymstar Limited entity, part of the Exness Group. Nymstar Limited is a Securities Dealer firm registered in the Seychelles with registration number 8423606-1 and authorised by the Financial Services Authority (FSA) with licence number SD025. The registered office of Nymstar Limited is at F20, 1st floor, Eden Plaza, Eden Island, Seychelles.
- Exness B.V. is a Securities Intermediary firm, authorised and regulated by the Central Bank of Curaçao and Sint Maarten with licence number 0003LSI. The Central Bank of Curaçao and Sint Maarten supervises the financial sector of the Curaçao and Sint Maarten country only.
- Venico Capital Limited, also part of the Exness Group, is a financial firm authorised by the British Virgin Islands Financial Services Commission (FSC), with registration number 2032226 and with an investment business licence number SIBA/L/20/1133. The BVI FSC is the regulatory authority responsible for all financial services business operating in and from within the BVI.
- Tortelo Limited is a financial services firm part of the Exness Group, with registration number 176967 and authorised by the Mauritius Financial Services Commission (FSC), with an Investment Dealer (Full Service Dealer, Excluding Underwriting) licence number GB20025294. The Mauritius FSC is the integrated regulator for the non-bank financial services sector and global business in Mauritius.
- Vlerizo (Pty) Ltd is licensed and regulated in South Africa by the Financial Sector Conduct Authority (FSCA) as a Financial Service Provider (FSP) with licence number 51024. The South Africa's FSCA is responsible for market conduct regulation and supervision of financial institutions registered in South Africa.
Client Money Protection
Exness (Nymstar Limited) does not specify how it manages client funds. We can only assume that due to the lack of strong regulations from the tier-4 regulator, funds are not held in client segregated accounts. If we get confirmation that the company, in accordance with international regulation standards, uses separate accounts to keep protected customer's funds segregated from the company's balance sheets, we will update this review.
All the other Exness Group entities comply with the client money handling rules and hold client's money segregated from the company funds, not using these funds for any other operational company expenses or purposes.
All the other Exness Group entities comply with the client money handling rules and hold client's money segregated from the company funds, not using these funds for any other operational company expenses or purposes.
Deposit Compensation Scheme
None of the Exness Group entities offer any deposit compensation scheme. This means there's no active mechanism to secure, or mediate customers claims, arising from the broker's failure to meet its financial obligations with clients.
Negative Balance Protection
For accounts opened via any of the Exness Group entities there is a Negative Balance Protection in place, for the sake of no negative balance. The broker performs a NULL operation on all accounts that have negative balance for them to be corrected to zero, thus protecting clients from any losses bigger than their original investments. If a retail trader gets a negative balance on a live account, the broker suggests waiting some time for it to be automatically corrected, before making a new deposit.
Accounts, Instruments and Platforms
| Accounts | Instruments | Platforms | Social trading | Maximum Leverage |
|---|---|---|---|---|
| ✔️Standard ✔️Cent ✔️Raw ✔️Zero ✔️Pro ✔️ECN ❌PAMM ✔️Islamic Accounts |
✔️Forex ✔️Indices ✔️Stocks* ❌Futures ❌Bonds ✔️Commodities ✔️Cryptos |
✔️MT 4 ✔️MT 5 ❌cTrader |
❌Myfxbook ❌ZuluTrade |
Unlimited:1 Globally (subject to account balance) |
Account types and currencies
- Exness Group has two types of trading accounts available; Standard and Professional. The Professional type of accounts are divided into Raw Spread, Zero, Pro and ECN. Exness Group also offers swap-free accounts for traders of Islamic belief.
- Exness does not allow for social trading, including copy trading.
- Exness does not offer PAMM accounts alternatives for money managers.
- Exness maximum leverage is Unlimited:1, subject to the account equity: If the account equity ranges USD 0 - 999 USD, the maximum leverage is Unlimited:1. For account with an equity ranging between 0 - 4,999 USD, the maximum leverage is 2000:1, for accounts with a balance between 5,000 - 29,999 USD is 1000:1 and for accouns with an equity of 30,000 USD or more is 500:1.
- Currently, Exness Group trading accounts are available in 61 base curencies: AED, AUD, ARS, AZN, BDT, BHD, BND, BRL, BYR, CAD, CHF, CLP, CNY, COP, CZK, DKK, DZD, EUR, GEL, GBP, GHS, HKD, HUF, IDR, ILS, INR, JOD, JPY, KES, KRW, KWD, KZT, LBP, LKR, MAD, MXN, MYR, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RUR, SAR, SEK, SGD, SYP, THB, TND, TRY, TWD, UGX, USD, UAH, UZS, VND and ZAR (restrictions apply).
Financial instruments
Trading with Exness Group can be done via the MetaTrader 4 and Metatrader 5. Both platforms are available for web trading, PC and MAC and for mobile trading with Android and iOS versions. Exness is very limited on the choice of assets available for trading; up to 120 instruments, including Forex, indices, stocks, commodities and cryptocurrencies.
- FX market - 80 currency pairs (including Minor and Exotic crosses).
- Indices - 9 world indices including including CAC 40, US 30 and GER 30.
- Stocks - 70+ stocks CFDs from worldwide top companies and banks, such as Apple Inc, Citigroup Bank and Netflix Inc. - *please note that stocks trading is only available with the MT5 trading accounts.
- Commodities - 9 commodities CFDs available for trading; 7 metals (Gold and Silver versus several currencies) and 2 energies including UK Oil and US Oil.
- Cryptocurrencies - 15 CFDs crosses for trading, including BTC/USD, LTC/USD, BAT/USD, BCH/USD and XRP/USD.
Pricing
4.0
| Pricing/ Account |
Standard | Raw Spread | Pro | Zero |
|---|---|---|---|---|
| Spread EUR/USD | from 0.3 pip | from 0.0 pip | from 0.6 pip | from 0.0 pip |
| Commissions (1 lot) | ❌ | up to 7 USD | ❌ | from 7 USD |
| Minimum Deposit | depends on payment system | from 200 USD | from 200 USD | from 200 USD |
Spreads
Exness offers in total 4 different trading account types, with two trading platforms; MT4 and MT5. A special note here, for traders opening an account with Exness and looking for the Unlimited:1 leverage ratio, please remember that Exness applies a variable leverage ratio depending on the account equity. The minimum deposit is 200 USD, or equivalent, for all the accounts, except for the Standard account, and depending on payment method, can be as low as 1 USD.
With the Standard type of accounts, the spread for the EUR/USD starts at 0.3 pip, with a typical spread of 1.2 pip with the commissions already built into the spread. For the Professional range of accounts, with lower spreads, there's a price to pay, a commission. The starting spread for the EUR/USD pair is 0.0 pip, with a typical spread varying between 0.6 pip and 0.9 pip.
The standard lot commission for 1 lot (100,000 units) with the Raw Spread and the Zero account is 7 USD (3.5 USD per side, per lot).
With the Standard type of accounts, the spread for the EUR/USD starts at 0.3 pip, with a typical spread of 1.2 pip with the commissions already built into the spread. For the Professional range of accounts, with lower spreads, there's a price to pay, a commission. The starting spread for the EUR/USD pair is 0.0 pip, with a typical spread varying between 0.6 pip and 0.9 pip.
The standard lot commission for 1 lot (100,000 units) with the Raw Spread and the Zero account is 7 USD (3.5 USD per side, per lot).
Rollover Rates
Exness swap rates, as of 15-09-2020, for 1 lot EUR/USD (100,000 units) stands at an average rate of -3.82 for holding overnight a long 1 lot contract and at +1.16 for holding overnight a short 1 lot contract, per day. We consider these swap rates to be average (for the long positions) and good (for the short positions) compared with the rollover rates offered by other top Forex brokers.
Deposits/Withdrawals and Other Fees
- Deposit fees - Trading accounts can be opened in 61 different currencies and maintained via 8 different funding methods, including cards, bank wires and e-payments such as Perfect Money, Skrill and Neteller. Bitcoin funding is also available. Deposits reflect on the trading account almost instantly. Exness does not charge any fees for deposits.
- Withdrawals fees - Same policy applies for withdrawals (withdrawal speed varies from instant to 5 business days). Exness does not charge clients any fees for withdrawals. However, for deposits and withdrawals, your credit card provider, bank or payment system may apply a transaction fee or commission that is beyond the broker's control. For more information, please visit the Exness deposit and withdrawals dedicated page.
- Inactivity fee - Exness does not charge an inactivity fee. Still, if traders register a Personal Account with the broker and leave it unused for a long period of time, the account may be archived. On the MT4 platform real account is archived after 90 days of inactivity and if the balance is < 5 USD. For a demo account, after 180 days of inactivity. Regarding MT5, accounts will be archived after 15 days of inactivity and if the balance is < 1 USD. For a demo account after 21 days of inactivity since the last login.
Popularity
3.0
| Forex Education |
Deposit Options |
Deposit/Withdrawals Fees | Non expiring demo account | Customer Support |
|---|---|---|---|---|
| Analysis Strategies Articles Webinars |
Cards Bank Wire E-payments Cryptocurrencies |
❌ | ✔️ | Multi language 24/7 Support |
The Exness Group was founded by a group of like-minded professionals in the area of finance and information technology in 2008. Still, in more than 10 years of business, the broker seems to fail in capturing the attention of new traders as it's popularity is just average. Let's start with the not so popular side:
Trading is currently limited to the Metatrader 4 and Metatrader 5, as no other trading platforms are offered. Also on the negative side, Exness is registered as Nymstar Limited in the Seychelles, regulated by the island FSA, a tier-4 regulator that lacks the proper licensing and regulations to protect retail clients.
- Trading accounts - The Exness Raw Spread Account is a popular choice with traders looking for reduced trading costs and considered the best value based with its competitive spreads and average trading commissions. Extra points for Exness's policy of no fees on deposits or withdrawals.
- Forex education - Exness also gets extra popularity points for their range of Forex education materials, available through the Education tab. Exness clients can find several tools to help them get a better knowledge of the market and to help them make informed trading decisions. Traders can access the broker's website to get updated daily market analysis, learn new trading strategies, read several financial world articles and enroll in live webinars hosted by professional traders.
| Funding Methods | Bank Wire, Bitcoin, CashU, Credit Card, Neteller, Perfect Money, Skrill (Moneybookers), Webmoney |
|---|---|
| Support Languages | Arabic, Chinese, English, Indonesian, Korean, Portuguese, Russian, Spanish, Thai, Turkish, Vietnamese |
- Minimum deposit - Opening a trading account with Exness is fairly easy and it can all be done via the web in 4 steps. The minimum deposit requirement with Exness for the Standard Account range, including Standard Cent, is 1 USD. If traders want to open a Professional type account, then the minimum initial deposit is 200 USD (or the equivalent in your account currency).
- Customer support - Exness's multi language customer support service is available 24 hours, 5 days a week, in 15 languages and 24/7 support in English, Chinese and Thai languages. The broker can be contacted via direct phone call and email. Live chat, directly from their website, is currently offline.
Broker Profile
Exness Limited is an International Business Company registered in Saint Vincent and the Grenadines with registration number 21927 (IBC 2014). Exness is a regulated online Forex broker that offers traders some of the best conditions in the market in a transparent and secure environment.
Established in 2008, Exness is one of the world's leading brokers and is known for delivering a reliable, trustworthy and customer-focused trading experience, coupled with innovative products and services that cater to investors and traders of all levels and backgrounds. With a deep understanding of trader's needs, the company strives to provide the best trading conditions on the Forex market, so clients from around the world can fully realize their professional potential.
In the past years the Exness Group has come a long way, becoming an industry leader: by the middle of 2014 the Exness Group client's monthly trading volume was more than 180 billion USD and the number of trading accounts opened each month by traders around the world exceeded 15,000 (according to their corporate website).
Currently, the Exness Group offers exclusively Professional accounts to institutions in the EU (through Exness (CY) Ltd) and in the UK (through Exness (UK) Ltd). Retail accounts to worldwide traders (restrictions apply) are available through Exness (Nymstar Limited).
Overall, on our Exness review (Nymstar Limited), the broker scores 3.5 out of 5 as it is good choice for traders looking for competitive accounts and pricing. Also the massive 2000:1 leverage available on some trading accounts scores high marks with traders looking for a broker that can offer more than the restricted leverage imposed by the EEA, for example. On the downside, the very limited offering of trading platforms and trading assets, the licensing and regulations offered by the Seychelles FSA, a tier-4 regulator that lacks the proper mechanisms to protect retail clients funds, are all ingredients that penalize this broker's popularity.
Data supplied in partnership with CashBackForex - Forex Rebates places Exness (Nymstar Limited) on the top 10 brokers for popularity with traders opening an account in 2020.
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Established in 2008, Exness is one of the world's leading brokers and is known for delivering a reliable, trustworthy and customer-focused trading experience, coupled with innovative products and services that cater to investors and traders of all levels and backgrounds. With a deep understanding of trader's needs, the company strives to provide the best trading conditions on the Forex market, so clients from around the world can fully realize their professional potential.
In the past years the Exness Group has come a long way, becoming an industry leader: by the middle of 2014 the Exness Group client's monthly trading volume was more than 180 billion USD and the number of trading accounts opened each month by traders around the world exceeded 15,000 (according to their corporate website).
Currently, the Exness Group offers exclusively Professional accounts to institutions in the EU (through Exness (CY) Ltd) and in the UK (through Exness (UK) Ltd). Retail accounts to worldwide traders (restrictions apply) are available through Exness (Nymstar Limited).
Overall, on our Exness review (Nymstar Limited), the broker scores 3.5 out of 5 as it is good choice for traders looking for competitive accounts and pricing. Also the massive 2000:1 leverage available on some trading accounts scores high marks with traders looking for a broker that can offer more than the restricted leverage imposed by the EEA, for example. On the downside, the very limited offering of trading platforms and trading assets, the licensing and regulations offered by the Seychelles FSA, a tier-4 regulator that lacks the proper mechanisms to protect retail clients funds, are all ingredients that penalize this broker's popularity.
Data supplied in partnership with CashBackForex - Forex Rebates places Exness (Nymstar Limited) on the top 10 brokers for popularity with traders opening an account in 2020.
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Exness User reviews
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(32)Classic
(29)ECN