Exness Review ☑️️ Pros and Cons - (Updated 2023*) (2024)

Overall, Exness can be summarised as a trustworthy and regulated broker that is very competitive in terms of its trading fees. Their spread is also very low with world-class education material and customer support. Exness has a trust score of 96 out of 99.

Exness currently maintains brokerage offices in Seychelles, Cyprus, United Kingdom, South Africa, Curaco and Sint Maarten, and the British Virgin Islands. Exness trades more volume than any upcoming broker*

Exness at a Glance

Exness provides traders with financial services and investment solutions that are tailored according to the needs of its clients.

Exness Review – 20 Keypoint overview.

🔥 Exness only accepts retail traders in Nymstar Ltd (Seychelles). Exness is regulated byCBCS, CySEC, FCA, FSA, FSC, FSCA

What is Exness?

According to Research in South Africa, our Exness review shows that Exness was founded in 2008 with developments occurring at an impressive rate since the company’s inception.

Exness holds brokerage licenses in the United Kingdom, Cyprus, Seychelles, South Africa, BVI, Curaçao, and Sint Maarten.

Nymstar Limited, a Securities Dealer registered in Seychelles with registration number 8423606-1 and authorized by the Financial Services Authority (FSA) with license number SD025. The registered office of Nymstar Limited is at F20, 1st floor, Eden Plaza, Eden Island, Seychelles.

Exness B.V., a Securities Intermediary registered in Curaçao with registration number 148698(0) and authorized by the Central Bank of Curaçao and Sint Maarten (CBCS) with license number 0003LSI. The registered office of Exness B.V. is at Emancipatie Boulevard Dominico F. “Don” Martina 31, Curaçao.

Venico Capital Limited is authorized by the Financial Services Commission (FSC) in BVI with registration number 2032226 and investment business license number SIBA/L/20/1133. The registered office of Venico Capital Limited is at Trinity Chambers, P.O. Box 4301, Road Town, Tortola, BVI.

Vlerizo (Pty) Ltd which is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa as a Financial Service Provider (FSP) with registration number 2020/234138/07 and FSP number 51024

Tip: Exness accepts South African traders – and is currently one of the fastest-growing ZAR Account brokers in South Africa. It also won the prestigious SA Shares award of the fastest-growing broker in Africa in 2020.

Not only does Exness provide brokerage services that are both stable and reliable, but provision is also made for a comfortable trading environment.

Included in its offering, Exness provides traders with tight spreads from 0.1 pips and there are no hidden commission fees involved. By providing MT4 as a trading platform, Exness provides traders with an array of CFDs and futures on numerous markets.

Exness has customer support that is offered in thirteen different languages and ensures that traders stay up to date by providing the latest financial news.

They also are one of the leading brokers that accept ZAR accounts deposit amounts depending on account type.

In addition, Exness is also involved with several organizations as an honorary sponsorship partner.

Overall,Exness is very competitive in terms of its trading fees and spreads. Their spread is super low compared to other FSCA-regulated brokers, there are no hidden trading fees, and commission with a Pro account is very straightforward. Their Standard and Raw Account also has super low spreads.

Safe or Scam?

Not only is Exness regulated and authorized by two of the strictest and most demanding authorities. Retail customers are signing up under CBCS, CySEC, FCA, FSA, FSC, FSCA.

Exness holds client funds in segregated accounts and provides clients with customer protection.

In addition to this is that Exness is a member of an investor compensation scheme, which pays out a certain amount to each client should the company become insolvent.

Its EEA registration along with it being regulated and authorized by CCBCS, CySEC, FCA, FSA, FSC, FSCA.This makes Exness a very reputable and reliable broker.

Pros and Cons

Leverage

Exness offers maximum leverage of 1:2000 and makes provision for a calculator that works out the maximum leverage and margin requirements according to the trader’s current level of account equity.

The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage. Such leveraged products magnify a trader’s potential profit – but of course, also increase the potential loss.

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has US Dollar 1,000 in his or her trading account and is trading ticket sizes of 500,000 USD/JPY, that leverage will equate to 500:1.

However, to the global entity, Exness can provide higher leverage levels depending on the country of origin.

Accounts

Exness offers traders a choice between four accounts, namely a Standard, Raw Spread, Zero, and Pro Account.

👉 Standard Account

The Standard account is one of the most popular choices and is tailored to meet the needs of all types of traders.

Benefits of the Standard Account:

The Standard Account Offering is suitable for all traders, even those just starting out, these are feature-rich, commission-free, market execution account types with stable spreads, no requotes, and great execution.

Consult with the helpful support of Exness for up-to-date information.

A Summary Overview Standard Account offering:

👉 Raw Spread Account

This type of account offers the lowest raw spreads with a relatively low fixed commission. In addition, it has several similar features as that of the Standard account, with notable differences such as:

👉 Zero Account

This account allows traders to obtain 0 spreads for 95% of the trading day on a total of 30 pairs. In addition, there are similar and standard account features as with the Standard Account, but it differs in the following ways:

👉 Pro Account

The pro account is known as Exness’s instant execution account. With this account, traders have access to excellent fill with no commission charges/fees on trading.

Tailored to the specific needs of more experienced and professional traders, who demand the lowest spreads (even spread-free), instant execution, or algo-trading optimized account conditions.

All accounts are eligible for Swap-free for Muslim countries.

These accounts meet the requirements of any professional trader or trading style from scalping and day-trading to automated trading. Choose only the best for your trading style.

Consult with the helpful support of Exness for up-to-date information.

As with the Standard Account, there are a set of basic features, and the Pro Account varies in the following ways:

Overview of Exness Pro-, Raw Spread and Zero Account

👉 Demo Account

Provision is also made for Demo Accounts where traders can test their trading strategies in a risk-free environment that mimics the functions of a live account and traders have access to virtual funds.

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Market Instruments

Exness offers traders the opportunity to trade in instruments like Forex currency pairs, metals, cryptoсurrencies, energies, indices, and stocks.

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Fees

The fees that Exness charges are based on the type of account pertaining to commission fees.

Where both the Standard and Pro accounts do not have commissions that are charged on trading, the Raw account has commission fees up to $3.5 (approx. 56 ZAR), Zero Account commission fees from $0.1 ( approx. 1.6 ZAR) and the Pro account has no commission fees.

With the Standard Account the minimum deposit depends on the payment system. With the Raw, Zero and Pro accounts each having a minimum deposit of $500.

Exness also has a rollover or overnight fee which is applicable should positions be held longer than a day. Each instrument has its own fee, which is charged for these overnight positions, this may either be charged as a fee or provided as a refund.

Although Exness does not charge any fees when deposits or withdrawals are made, traders need to verify with their chosen payment provider before transfers are done as payment providers may waive fees that the trader will be held liable for.

Exness Customer Reviews – TrustPilot

One of the best brokers I have seen.

One of the best brokers I have seen, with a very low spread and no swap charges. Fast withdrawal and deposit.

Best Broker.

I began to use Exness the last year, before’ i came here to reed different reviews, it disappointed me lot, but i decided to try them! Its a best broker i used ever! Fast withdrew within 2 minutes only especially through Skrill! Touchable support, Tight spreed without commission and no swap but tight swaps in some pairs! Congratulation Exness! Some people here do complain on market manipulation, but what i experienced them! If you trade by following the risk management, you will not come here to ignore them! What i’m not sure to them, if the account reach to more than 200,000 USD Profit, are they ready to give out my money?

Customer support is taking so much time.

Customer support is taking so much time to connect.. Whenever I have problem and trying to connect with customer support, its taking more than 30 mins and it places me in the q, please upgrade ur stuff and make it instant support to the customer.

Deposit and Withdrawal

Exness provides the following payment methods through which deposits and withdrawals can be processed:

A trader should acknowledge that there is a minimum deposit that can be made through using these payment providers with a general $1 required from USDT/Tether, Internet Banking, AstroPay Card, WebMoney, and Internal Transfer.

Traders must ensure that they confirm any other minimums that may apply by contacting Exness before they register a live trading account, subjecting them to a minimum deposit before they can start trading in live financial markets.

Although most payment providers indicate deposit speeds that are instant USDT may take up to 72 hours and Bitcoin up to 4 hours.

As with the processing speed on deposits, withdrawals may also take some time to process and for it to reflect in the trader’s account.

Exness does not permit third-party payments due to strict regulations and as a safeguard against money laundering.

Trading Platforms

Exness provides traders with a choice between MetaTrader 4, MetaTrader 5, WebTerminal as well as Exness Terminal. Exness Terminal is its own sophisticated and customized trading terminal entirely developed and maintained by Exness developers.

MetaTrader 4

This is the most popular trading platform used in the trading community for various reasons such as:

MetaTrader 5

Is the upgrade from MetaTrader 4 and provides traders with a variety of features in addition to what MetaTrader offers, including:

WebTerminal

WebTerminal as a trading platform provides traders with the following features:

Exness Terminal

Similar to WebTerminal in that it is a web version of a trading terminal. The main advantage is that it is both a web browser and mobile browser friendly.

Exness Terminal is entirely developed by the Exness developers. This means that Exness has the ability to continuously improve it in order to give their customers a better user experience. Exness also have their own tailored made mobile apps developed by their in-house developers.

Main features include the following:

How to Open an Exness Account

Exness offers a very simple and digital way to open an account which can be completed in just a few easy steps. Exness even provides a how-to video which can be viewed here. Exness also offers traders the option to open more than just one trading account.

The steps involved with opening an account are:

Step 1 – Open the Exness Website and click on the “Open Account” tab.

Navigate to the official Exness website and at the top right of the screen click on the “open an account” tab.

Step 2 – Fill in your personal details.

On the online application form, the applicant enters their country of residence, email, and a password that they will use to log in on the website and the Exness Trader app.

Step 3 – Choose your account type.

After this information has been submitted, the applicant is taken to a screen where the applicant can choose between a demo account which is automatically created with a virtual deposit of $10,000 (140 397.00 ZAR) or a real account.

The personal area is accessed through the menu option, in the personal area, the trader will find their live account and the option to open more accounts

When opening more accounts, the trader has the option of choosing between the accounts, followed by choosing their leverage and currency, followed by choosing a password for the specific account.

Step 4 – Start Trading.

Finally, you can start trading.

Customer Support

Exness can be contacted either by telephone or via email. Clients also have the option to start Live Chat on any of the pages on the website.

Assistance is also provided in various languages, including English Indonesian, Arabic, Japanese, French, Hindi, Portuguese, Russian, Spanish and Urdu. But assistance in some languages isn’t always available immediately and the waiting periods are indicated next to the language.

Exness also provides access to a Help Centre, which offers a search box where clients can type in keywords to help them find answers to topics which they are querying.

Education

Exness provides a variety of educational tools that range from an Exness Academy to Webinars and a Glossary.

The Exness Academy provides information on topics such as:

➡️️ Essentials – caters specifically to beginners in teaching them and helping them understand the core of what trading is

➡️️ Development – which can aid traders to build on their skills by teaching them to manage risk and providing them with the opportunity to study other traders

➡️️ A final step is known as the Breakthrough, where traders can put their knowledge to the test by starting to analyze markets

Exness provides webinars that are normally scheduled ahead of time. There are currently no events that are planned

The Exness glossary features terms used in the trading community from A – Z. This is not only to be used by beginner traders but also more experienced traders who need a point of reference.

In addition, Exness also provides Insights and analysis along with news from markets which can be used not only by beginners, but also by more experienced traders who want to keep up to date with insights, analysis, and various news topics from different markets.

Research

Exness provides a range of research tools such as:

Calculators with which to calculate basics of the trader’s positions including, Margin, Point Profit, Swap Long, and Short, and several others

A currency converter

VPS Hosting

A Market Analysis Calendar

WebTV, and

Statistics such as Tick History

Awards and achievements

Awards

➡️️ Most Transparent FX Broker 2019 (World Finance) and Global FX Broker of the Year 2019(The European).

➡️️ Best Customer Support Award at Financial Markets Expo Cairo 2021

➡️️ Premium Loyalty Program Award at Financial Markets Expo Cairo 2021

➡️️ Most Innovative Broker at Dubai Expo 2021

➡️️ Most People-Centric Broker at Traders Summit 2023

➡️️ Global Broker of the Year at Traders Summit 2023

Achievements

➡️️ First broker to exceed the $1 trillion and $2 trillion marks in monthly trading volume

Conclusion

Exness is a fully regulated and transparent broker with not only high operational standards but superior service delivery in that it caters to all types of traders with different levels of experience.

The type of accounts provided are tailored for different traders and commission costs on trades along with other pricing is relatively low when compared with other brokers. Exness offers competitive spreads, prices, and trading conditions.

Traders can experience a safe trading environment with the provision of an array of financial instruments and top-notch trading platforms that further cater to their every need.

Disclaimer

The trading of financial instruments involves a high level of risk which may not be suitable for all traders. Traders need to evaluate their objectives along with their level of experience before making decisions regarding the trading of financial instruments.

Traders face the risk of great losses that may exceed their initial deposit. Exness does not accept liability for any losses or damage and by using the information and/or tools and products provided on the website, traders acknowledge the risks involved.

None of the products or information provided on the Exness website is intended to be used as recommendations or encouragement to be used to trade financial instruments.

Traders may seek independent and professional advice should they deem it necessary.

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Frequently Asked Questions

Is Exness Regulated in South Africa?

Yes, Exness is regulated with the FSCA in South Africa with registration number 2020/234138/07 and FSP number 51024.

What is Exness withdrawal time in South Africa?

Exness withdrawal time is under 24 hours during weekdays.

What account types are offered by Exness?

Exness offers the Standard and Standard Cent account and the Pro, Zero and Raw spread accounts for more experienced, professional traders.

What are the deposit methods available for Exness?

To deposit funds, traders can choose between Bitcoin, Bank card, Internet banking, Skrill, Neteller, Perfect money, Tether (USDT OMNI), Webmoney, Mybux and Ozow.

Does Exness offer a demo account?

A demo account is offered by this broker. The demo account does not expire, but will be deleted after a period of 21 days of inactivity.

What is the minimum deposit for an Exness account?

You can start trading with Exness for a minimum deposit of $10 / ZAR 160 for South African traders.