Exness Broker Review 2021 | Is Exness Legit or Scam Broker?

Exness Broker Review 2021 | Is Exness Legit or Scam Broker?

Contents

Exness is the world’s top-tiered forex broker that allows having the test of unlimited leverage in the financial market. Despite the facility, this broker has some reports of changing the leverage at any time. So, can we rely on Exness?

In the following section, we will see every detail of this broker so that we can define the effectiveness of the company with a neutral opinion.

Overview of The Company

Exness Broker Review and Overview

The Exness Group was founded by a group of professionals in the area of finance and information technology in 2008.

Exness Group was developed at a massive speed in the past few years and became an industry leader. As per the recent data of December 2020, the monthly trading volume of excess reached 673.6 billion for more than 145,400 active traders around the world.

Exness Group is now offering trading under multiple regulations from different places with a vast number of available trading instruments including currency pairs, metals, cryptocurrencies, energies, indices, and stocks.

Regulation

Exness is a multi-regulated broker from different authorities. Therefore, traders’ accounts might experience a change in policy with the change in geographical location.

The regulation and geographical Exness’s offices are mentioned below:

  • Nymstar Limited is a Securities Dealer registered in 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 registered in Curaçao with registration number 148698(0) and authorised by the Central Bank of Curaçao and Sint Maarten (CBCS) with licence number 0003LSI. The registered office of Exness B.V. is at Emancipatie Boulevard Dominico F. “Don ” Martina 31, Curaçao.
  • Venico Capital Limited is authorised by the Financial Services Commission (FSC) in BVI with registration number 2032226 and investment business licence 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 is authorised 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.

Account types

Exness provides two account types- standard and professional. They focused on traders’ requirements like facilities more than the types of accounts.

Standard account

The Standard account is available on both MT4 and MT5 platforms. Therefore, if you want to trade in the traditional MetaTrader 4 Platform, you can easily trade with this platform. Otherwise, for the advanced MT5 platform, there is room for starting to trade. Other features of the standard account are mentioned below:

Minimum Deposit

$1

Average EUR/USD spread

0.0 — 0.3 pips

Commission

No

Rollover swaps

Yes

Best for

Scalpers and algorithmic traders

Leverage

1: 2000

Minimum lot size

0.01

Hedging

Yes

Expert advisor

Yes

Professional account

The professional account has three categories-

  • Raw Spread
  • Zero Commission
  • Pro Account

Other features of a standard account are mentioned below:

Minimum Deposit

$200

Average EUR/USD spread

0.0 — 0.3 pips

Commission

No

Rollover swaps

Yes

Best for

Scalpers and algorithmic traders

Leverage

1: 2000

Minimum lot size

0.01

Hedging

Yes

Expert advisor

Yes

Social Trading

Besides personal trading, Exness offer social trading through their website and mobile app. In the social trading app, investors can find traders to whom they want to allow trading. Moreover, if you are a consistently profitable trader, you can trade other people’s accounts as well.

Payment Options

During our review, we have found a considerable amount of payment processors that are often not possible to find in other brokers.

Exness deposit option

Here is the list of deposit channels found on the Exness website:

  • Bitcoin
  • FasaPay
  • NETELLER
  • Perfect Money
  • WebMoney
  • Skrill
  • Bank cards
  • Tether (USDT OMNI)
  • Bank transfer
  • BPay

Exness withdrawal option

Exness requires the same withdrawal method for the deposited amount and for-profit you can choose any method from the below-mentioned link:

  • Bitcoin
  • FasaPay
  • NETELLER
  • Perfect Money
  • WebMoney
  • Skrill
  • Bank cards
  • Tether (USDT OMNI)
  • Bank transfer
  • BPay

Markets

Exness is suitable for portfolio diversification as traders can expand their investment in forex, index CFDs, commodities, and cryptocurrencies.

Forex

You can enjoy forex trading with a maximum leverage of 1:2000. Moreover, its spread are floating and average compared to other brokers.

Currency pair

Spread

EUR/USD

0.09

GBP/USD

0.59

AUD/USD

0.17

USD/CAD

0.31

Shares CFDs

Exness provides CFDs trading on shares in most of the major companies in the world, including Apple, Microsoft, Facebook and others. During our review, we have found the trading cost in shares as satisfactory.

Cryptocurrencies

Some essential features of the Exness cryptocurrency trading are mentioned below:

  • Weekend trading in Bitcoin, Ethereum, Bitcoin Cash, etc.
  • The opportunity of trading cryptocurrencies without any digital wallet.
  • Ability to hedge on a single account.
  • Available leverage of Bitcoin CFD is up to 5:1.

Trading platforms

Exness provides trading services through MT4 and MT5 platform that can catch trading requirement for all people

Exness MetaTrader 4

Exness MetaTrader 5

MetaTrader 4 is the world's most used trading platform that is famous among most retail traders. In MT4, traders can see real-time charts, live quotes, market analytics, etc. 


Some other facts provided by Exness is mentioned below:

  • Twenty-eight trading indicators and available expert advisors.

  • Provides autochartist to find high probability trades.

  • Opportunity to hedge trading.
    All trading instruments are available on the MT4 platform.

MetaTrader 5 is the upgraded function of the MT4 platform, where both of these platforms are user-friendly by traders.

MetaTrader 5 provides faster processing times, advanced orders, and hedging opportunities. 


Other features are mentioned below:

  • In the MQL5 language, traders can build automated trading tools.

  • Lots of inbuilt indicators and faster processing

  • Advanced customization of the trading style.

Customer support

Exness website is available in multiple languages based on the locality so that you can easily access and conduct with the broker.

Moreover, this broker has a huge section of FAQ so that traders can see what the broker offers and how they can benefit from the broker. During our review, we have found the FAQ section to be enriched.

The most convenient way to contact Exness is the live chat that is available 24/7. During our review, we found the Exness Live chat as effective.

Pros and cons

PROS

CONS

  • Offers strong regulation from ASIC and FCA

  • Multiple trading platforms: MT4, MT5

  • Multiple account types to cover all kinds of traders’ need

  • Provides ECN trading environment

  • Does not provide ETFs trading

  • The minimum deposit requirement is $200 for professional account

  • Does not provide services for US clients

Summary

In summary, we can say that Exness multi-regulated forex brokers allow trading in many trading instruments.

Based on our review, we found Exness is a trustworthy broker based on regulation and funds safety. However, the trading cost is higher and they change the leverage at any time. Overall, the functionality of multiple trading platforms, availability of social trading, and various regulations may attract it as an attractive platform.

Rating

9/10

Year founded

2008

Regulation

FSA, FSC, CySEC

US available

No

Trading instruments

Forex, Stocks, Indices, Commodities, Cryptocurrencies

Trading platforms

MetaTrader 4, MetaTrader 5

Min. deposit

$1

Deposit methods 

Visa, Mastercard, POLi, Bank transfer, BPay, PayPal, Neteller, Skrill, Union Pay

Base currencies

USD

Inactivity fee

No

Withdrawal fee amount

Free

Max. leverage

2000:1

Min. spread

0.0

Currency pairs

 50+

Demo account

Yes

Social/Copy trading

Yes

Automated trading

Yes

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