Exness Broker Review

Is Exness Safe?

Exness is a relatively new broker, only being founded in 2008, and has been regulated by the Financial Conduct Authority (licence: 730729) since 2016, CySEC (license number 178/12) since 2012, and the FSCA (FSP:51024) from 2020.

Exness is also a member of the Investor Compensation Fund, which serves to protect and secure the claims of covered clients and provide them with compensation in instances where the member of the Fund cannot meet its financial obligations.

In terms of market innovation, traders consider Exness to be a more traditional broker due to its reluctance to include a social trading aspect; though the lack of exposure to social networking does not seem have had a negative impact, as it consistently does 450 billion USD worth of business annually.

Exness regularly receives industry awards and recently won Best Global Forex Customer Service 2019, Best Global Forex Trading Experience 2019 and Most Trusted Global Forex Broker 2019 at the Global Forex Awards. Exness is also one of Real Madrid’s main sponsors. 

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Trading Conditions

Trading conditions at Exness are some of the best in the business and all trades are executed on the market with no intervention, with one exception. With a low-cost cent account for new traders, unlimited leverage on some of the professional accounts and a wide range of assets to trade, Exness has made sure that its product offering will appeal to all types of trader.

Account Types

Exness has two standard trading accounts and three professional trading accounts with a good range of options for both beginner and experienced traders – all accounts are available as swap-free for Muslim traders. MT4 support is available on all account types, but MT5 support is slightly restricted – see below for details. 

All accounts feature market execution, apart from the Pro Account, where instant execution is provided for all CFDs except cryptocurrencies.

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Standard Accounts 

• Standard Cent Account – With 1 USD minimum deposit, micro-lots unlocked, and spreads as low as 0.3 pips, this is a great account for new Forex traders who want to learn without too much risk. You will only be able to trade currency and metals with this account and MT5 is not supported.
• Standard Account – This account also only requires a 1 USD minimum deposit and trading conditions are broadly similar to the Cent Account, but you will have access to MT5 and more assets, including cryptocurrencies and indices.

Professional Accounts

• Raw Spread Account– a minimum deposit of 500 USD deposit and 3.50 USD commission but spreads from 0 pips. Available on MT5.
• Pro Account – the single instant execution account offered by Exness, this account has a minimum deposit of 500 USD deposit and spreads from 0.6 pips but has no slippage. Available on MT5.
• Zero Account – a minimum deposit of 500 USD deposit and 3.50 USD commission but guaranteed 0 pip spreads for 95% of the trading day on 30 pairs. Also available on MT5.

Spreads and Commission

Spreads are generally low compared to Exness’ competitors – even on the Cent Account where they can be as low as 0.3 pips, but generally average 1 pip on the EUR/USD.

Commission is only charged on two of the Professional Accounts, and then it is the industry standard 3.50 USD per lot per side.

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Broker

Trading Conditions

Base Currencies

EURUSD (Standard)

Trading Cost (Standard)

EURUSD (Best)

GBPUSD (Best)

USDJPY (Best)

Commission

Exness

5/ 5

USD, EUR, GBP, AUD, ZAR, CHF, JPY, NZD, SGD+40

0.70 pips

USD 7

0 pips

0.10 pips

0 pips

USD 0

eToro

4/ 5

USD

1.00 pips

USD 10

1.00 pips

2.00 pips

1.00 pips

USD 0

CM Trading

4/ 5

EUR, USD

1.50 pips

USD 15

1.70 pips

2.60 pips

1.70 pips

USD 0

Deposits and Withdrawals

Funds can be deposited in several different ways including Credit Cards, bank wire transfers, Neteller, Skrill and a few other online payment systems.

Exness has a system that allows automatic withdrawal of funds utilising a few different electronic payment systems which mean traders have 24/7 control of their account funds. Withdrawals are transacted immediately using the same method adopted to deposit funds.

Exness for Beginners

While Exness is not the best in the industry at providing education and market analysis for beginners, there is a decent amount of material for new traders to get through. The education section especially has a lot to offer, while market research and analysis is well-presented and useful rather than exciting. Customer support is excellent, however.

Educational Material

The majority of Exness’ educational assistance for new traders can be found in the Exness Academy. Trading education is split into three different experience levels, which is perfect for a new trader wishing to gradually improve their understanding of the Forex market.

Video education is also available in five languages, including English, Arabic, Thai, Indonesian and Vietnamese. These bite-sized videos are great explainers of important concepts that all Forex traders need to understand.

Exness also hosts frequent webinars in English, Arabic, Thai, Indonesian and Vietnamese. These cover a range of topics and will prove especially useful to new traders. Registering for a webinar does not require an Exness account, though you will have to provide an email address.

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Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

Exness

Yes

Yes

Yes

Medium

Yes

eToro

No

No

No

Low

Yes

CM Trading

No

No

No

Medium

Yes

Analysis Material

The market analysis section at Exness is not quite as expansive as the education section, though there is still some great content here. Most of the content is presented in the analysis blog, which is updated every few days with thoughtful insight on recent and future events across a range of CFD markets.

Of course, a standard economic calendar is available, but Exness also presents a daily video of upcoming market events to watch out for with brief technical analysis. This is provided by Trading Central but is still useful for new traders.

Customer Support

Client phone support is 24/5 in 13 languages and two languages, English and Chinese are supported 24/7.

Other forms of contact include live chat, call back service, phone, and emails. Other support is provided through posted up to date financial news and there was access to their library through the website. Dow Jones news was available to clients with accounts.

Trading Platforms

Exness supports Metatrader4 and Metatrader5 (and the Webtrader for both) as well as a range of mobile trading platforms. Access with mobile is 24/7, an industry standard, and they have high-security encryption to protect a client’s details. If you are a trader with multiple accounts, you can opt for the Metatrader4 multi-terminal platform.

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Broker

Platform Choice

Copy Trading

Platforms

Exness

4.5/ 5

Yes

MT4

MT5

Exness Terminal

eToro

4/ 5

Yes

etoro

CM Trading

4/ 5

Yes

MT4

WebTrader

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Exness offer. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Exness Risk Statement

Trading Forex is risky, and Exness would like you to know that: “CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital.”.

Summary

Exness is a good all-round broker for most traders, whether beginner or more experienced. With MT4 and MT5 support, good customer service and excellent trading conditions across a wide range of account types, there is little to fault here. 

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.