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On our website you can find numerous reviews, both positive and negative ones, about EXNESS from experienced traders. We try to make sure that all comments are left by real clients of the broker. Here you can ask questions about trading and withdrawal of funds, as well as contact support for assistance. We are the only service that follows the reviews and ensures that they are left by real people, and not by competitors or anyone else interested in improving or deteriorating reputation of the broker.

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Exness Review 2020

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Exness group of companies was founded in 2008, at the height of forex popularity. Since then, the company has become one of the market leaders in a number of regions of the world.

The company’s commitment to the forex market is the broker’s identifying feature. It is one of the leaders by the number of the currency pairs offered for trading and low fees.

The broker is registered in the Seychelles, while its core activity in recent years has been concentrated in the developing countries in Asia, Europe and Africa. As recently as several years ago, the broker had strong positions in the Russian market, although these positions have weakened in the past few years.

Among the most known marketing campaigns of Exness is sponsorship of Real Madrid, one of the most popular teams in the world.

Let’s look into the benefits that have contributed to the broker’s growth in the competitive market over the past 12 years. To gain a better understanding of whether Exness indeed offers a decent level of services, we will compare the offers of the broker with its strong competitors in the course of the entire review.

Pros Cons
  • 107 currency pairs.
  • Some of the lowest commissions in the forex market.
  • Zero spread accounts.
  • Wide choice of trading accounts with different approaches to charging commission for novices and professionals.
  • Over 60 base currencies of the account.
  • Tick data archive since 2015.
  • Licensing in the Seychelles – jurisdiction with low level of protection of rights of the clients of financial companies.
  • Narrow choice of markets.
  • No instruments for passive investment.
  • Superficial learning and analytical content.
Pros
  • 107 currency pairs.
  • Some of the lowest commissions in the forex market.
  • Zero spread accounts.
  • Wide choice of trading accounts with different approaches to charging commission for novices and professionals.
  • Over 60 base currencies of the account.
  • Tick data archive since 2015.
Cons
  • Licensing in the Seychelles – jurisdiction with low level of protection of rights of the clients of financial companies.
  • Narrow choice of markets.
  • No instruments for passive investment.
  • Superficial learning and analytical content.
About the author

Andrey Mastykin

is an analyst and author of the website.

Having over 10 years of experience of working in the shares, forex and cryptocurrency markets. Andrey is a professional financial observer, aspiring to share his knowledge with the others. He is the author of hundreds of educational and analytical articles on trading and investment.
exness-logo

Key features of Exness broker

Website www.exness.com
In which countries is regulated the Seychelles (FSA), Cyprus (CySEC), UK (FCA)
Trading fees Low
Inactivity fee charged No
Minimum deposit $1
Leverage up to 1:2000
Markets Forex, CFD for shares, indices, raw materials, energy goods, metals, cryptocurrencies
Support languages 15
Withdrawal fee No
Deposit and withdrawal via cryptocurrencies Bitcoin
Withdrawal to credit/debit card Visa, MasterCard
Deposit from electronic wallets Yandex Money, Neteller, WebMoney, PerfectMoney, Skrill
Trading platforms MetaTrader 4, MetaTrader 5, Web Terminal
Demo account Available
Deposit bonus No

Real reviews of EXNESS 2020

2018-04-16 MoneyDigger

pretty good ecn provider. believe me newbies, it’s is a ver y important factor to check before you start trading with a broker which opens an access to the interbank. this one has everything arranged already, like good bridges and fast execution of pending orders. once i even asked them to send me some info about my order execution. just for the sake of curiosity, you know))) and theн did! sent me a report showing a lot of numbers and values. it was a greek to me haha))) but i also found there what i actually needed – i saw the nprovider’s name, which proves that they execute outside of their platfor. cannot say a word ‘bout other account types. never tried them.

Comments: 0 Leave feedback
2018-04-02 Robert

I’ve chosen Exness broker because i got used to make business only with strong and serious partners without cheating and tricks. Open my account 3 months ago and have already withdrawn earning several times. Plus, a couple of day ago i got some bonuses and i am glad that this company is trying to improve its trading conditions. I’m gonna recommend this company to all my friends who are thinking about trying their hand on financial markets.

Comments: 0 Leave feedback
2018-02-14 qwizor

i placed 100 bucks just to test their withdrawal means and found no money after withdrawal request. i still have no idea where they took my money. actually i don’t give a fuck cause have no problems with money. i just tested them. another scammer. don’t deal with it.

Comments: 0 Leave feedback
2018-02-13 Nazhib

yeap dudes. i confirm all those words you wrote above. the same shit happened with me. dunno what 2 do now((( probably someone here can help in my situation. i made depo and even traded with currency pairs, but not for long… then my friendz offered me to come to another dealing center with better conditions. why not?!?! and i placed a request for withdrazwals. but no such luck(( well, i’ve been waiting for 16 days already. one positive sign is that their support service answers my messages – they say they got problems with processin. but i dont believe ‘em. seems like they are hoodwinking me and promising jam tomorrow…
pleeeez help me out with that situation! maybe someone found a way to get money back! what should i do?

Comments: 0 Leave feedback
2017-08-05 Vandeymer

I can’t but agree that this rating contains only the best brokerage companies. Very big list and I guess everyone can find here a company to its taste. As for me, I like EXNESS. This company is very user-friendly and they really for people’s interests.

Comments: 0 Leave feedback
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Geography of broker’s customers

The broker services over 60,000 active accounts with $200 billion monthly turnover. Therefore, Exness is positioned as a rather large broker.

We also decided to check the broker’s customer geography by Exness.com domain. Interestingly, there were around 2 million visits of the website in June 2020 – the traffic increased 30% over the month. The geography of visits is also quite interesting. Here are what top 5 countries look like:

Country Percentage of visits
Thailand 45.35%
Vietnam 17.29 %
South Africa 6.39%
India 4.07%
Uganda 3.76%

In each of the aforementioned countries, a rather sharp increase of visits has been observed – by dozens percent.

NOTE! Since October 2019, Russian citizens cannot be clients of the Exness.com platform. Existing clients of the broker continue to be serviced as usual.

Citizens of which countries cannot become customers of Exness

Due to the regulatory restrictions on exness.com portal, the broker does not work with a number of countries, including:

  • EU countries, UK and its overseas territories.
  • Russia.
  • USA and Canada.
  • Australia and New Zealand.

EU citizens can use the services of the broker by using exness.eu. For the citizens of the UK, the access to the services is possible through exness.uk platform. However, the conditions of those platforms differ from the ones on exness.com platform, which is the subject of our review.

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Exness trading fees

The broker offers several types of accounts for the novices and advanced users. All accounts have their pros and cons and differ not only by the level of commissions, but also approaches to charging them.

In particular, the novices are provided with an opportunity to practice their trading skills on the standard account. Professionals, who perform many trades, can forecast their trading expenses using professional accounts with near-zero spread and predictable trading fees.

Pros Cons
  • Zero spread account with fixed commission per trade and near-zero spread.
  • Commissions in the forex market are lower than average in the market.
  • A variety of plans with different approaches to charging commission for novices and professionals.
  • Commissions in the cryptocurrency market are times lower than those of the competitors.
  • Conditions for ECN account are worse than average in the market.
Pros
  • Zero spread account with fixed commission per trade and near-zero spread.
  • Commissions in the forex market are lower than average in the market.
  • A variety of plans with different approaches to charging commission for novices and professionals.
  • Commissions in the cryptocurrency market are times lower than those of the competitors.
Cons
  • Conditions for ECN account are worse than average in the market.

Brief review of Exness commission system

Exness applies different practices of charging trading fees. In particular, on Standard, Standard Cent and Pro accounts, a variable spread is used, which depends on the current market situation. On Raw Spread accounts, a combined system of small spread and fixed commission per trade is used. For Zero accounts, there is either no or minimum spread and there is a fixed commission per trade. ECN account features a combination of turnover commission and variable spread of average value.

To make it simple, let’s summarize the available information for the forex market and EUR/USD pair.

Standard PRO Raw Spread Zero ECN
Spread 1 point 0.6 points 0 0 0.6 points
Commission per lot/side 0 0 3.5 USD 3.5 USD 0
Turnover commission 0 0 0 0 25 USD per $1 million

*All commissions and spreads are provided as of 13.07.2020. The broker updates the values of average spread and several other parameters daily. To receive updated information, please visit Contract Specifications page on the broker’s website.

Comparison of Exness trading fees with the competitors

In order to understand how attractive Exness commission levels are, let’s compare them with competitors from eToro and Forex.com. For this, we will take several most popular trading instruments and an average spread on standard accounts.

Exness* eToro Forex.com
EURUSD 1 3 1.2
GBPUSD 1.5 4 2.1
CFD on Nikkei Nikkei 225 10.2 10 13

*All data provided as of 13.07.2020.

Trading fees on the forex market

As the practice of trading fees of the brokers is quite different, the issue requires detailed study. In the example above, we only reviewed EUR/USD spread, while there are many special features in different markets and types of accounts.

In order to obtain a full picture about which trading account is more beneficial for a specific market, let’s look into every case. This will allow potential customers to choose the best option for their needs.

NOTE! Below, all fees will be specified in a unified value. We calculated how much it will take to pay for one standard lot in US dollars. The calculation was performed based on the size of the purchase and sale of 1 lot of 100,000 units of base currency as of 13.07.2020.
Standard PRO Raw Spread Zero ECN
EURUSD 10 USD 6 USD 3.5 USD 3.5 USD 8.5 USD
GBPUSD 15 USD 9 USD 6.5 USD 4.5 USD 11.5 USD
USDCAD 16.95 USD 10.31 USD 7.18 USD 5 USD 11.34 USD
USDJPY 10.27 USD 6.54 USD 3.5 USD 3.5 USD 9.03 USD
USDCHF 15.93 USD 9.55 USD 6.68 USD 4.5 USD 11 USD
NZDUSD 20 USD 12 USD 9.5 USD 6.5 USD 13.5 USD
EURGBP 20.16 12.6 8.54 USD 9 USD 13.84 USD
GBPAUD 19.51 11.85 8.37 USD 6.5 USD 12.95 USD
USDHKD 50.05 31.34 19.95 22.56 USD 9.46 USD
USDRUB 467.41 291.87 231 USD 231 USD n/a

Overall, we estimate the level of Exness commissions in the forex market as better than the market average. It surpasses the offers of the competitors, which have already been mentioned in the review. On some accounts, the broker has one of the best offers.

Raw Spread and Zero accounts are the most attractive types of accounts Exness offers in terms of commission for the forex market. They can be interesting for trading with robots and expert advisors, as they allow us to calculate the costs better.

Commissions on the cryptocurrency market

There is a total of 7 cryptocurrency pairs on the platform. They are available not for all types of trading accounts. The digital currency market, by all signs, is not a priority for Exness broker. Nonetheless, the broker’s commissions for cryptocurrency CFDs are quite competitive.There is a total of 7 cryptocurrency pairs on the platform. They are available not for all types of trading accounts. The digital currency market, by all signs, is not a priority for Exness broker. Nonetheless, the broker’s commissions for cryptocurrency CFDs are quite competitive.

Standard* Raw Spread Zero
BTCUSD 10.68 USD 3.5 USD 3.5 USD
BCHUSD 2.8 USD 0.5 USD 0.5 USD
ETHUSD 1.21 USD 0.5 USD 0.5 USD
LTCUSD 0.99 USD 0.44 USD 0.25 USD
XRPUSD 0.73 USD n/a n/a

*there is no cryptocurrency trading on Exness Pro and Exness ECN accounts.

For comparison, we recalculated the spreads and commissions on standard accounts in dollars. This will help determine the real costs for purchasing or selling 1 BTC. Also, we are adding the offer of Binance cryptocurrency exchange, which is one of the leaders in the industry, to the table for better understanding of the situation.

Exness eToro Forex.com Binance
BTCUSD 10.68 USD 70 USD 35 USD 9.2 USD

On Zero account, with a fixed commission of 3.5 USD the broker greatly surpasses the offer of Binance. However, one must remember that the trading on Exness platform is conducted by risky CFDs, not real cryptocurrency, as in the case with the exchange.

Trading fees on the stock market

In spring 2020, the broker announced the launch of trading of some instruments via CFD contracts. For now, the stock market is represented on the platform fragmentarily.

For ECN account this asset is unavailable.

Standard Raw Spread Zero
APPLE (Appl) 19 USD 10 USD 4.2 USD
Amazon (AMZN) 144 USD 84 USD 36 USD
Facebook (FB) 14 USD 8 USD 4.2 USD
Alphabet (GOOG) 144 USD 9 USD 54 USD
Microsoft Corporation (MSFT) 14 USD 8 USD 3.6 USD

*Price of a lot depends on the price of the shares. 1 lot equals to the current price per share multiplied by 100. For Amazon, that’s 327,000 USD as of 13.07.2020.

The logic of all markets remains the same – the broker offers the lowest commissions for the professional account Zero.

Having compared the offer on the market and Exness offer, we received the following result for the standard lot of Apple (AAPL) shares. We also added American broker Interactive Brokers, one of the leaders on the stock market, to the table.

Exness Zero eToro Forex.com Interactive Brokers
APPLE (Appl) 4.2 USD 0 USD 7 USD 1 USD

As we can see, eToro’s offer is unreachable at the moment.

Trading fees on the index trading

Index trading is always popular among the traders, as it allows to reduce the risks of volatility of some securities. Exness offers a small choice of CFDs for the indices of shares of some developed countries. Commissions for the trades can be characterized as average. They are less favorable than classic brokers from the U.S. market, but at the level of key competitors in general.

Let’s compare conditions for trading one of the most liquid instruments – S&P 500, a wide index of shares of the USA and Dow Jones 30, index of manufacturing companies.

Exness Zero eToro Forex.com Interactive Brokers
Index S&P 500 (US500) 0.5 USD 1 USD 0.6 USD 1 USD
Dow Jones 30 (USTEC) 4.25 USD 6 USD No such instrument available 1 USD

Non-trading fees of Exness

As a reminder, non-trading commissions include fees for the services that are not directly related to the process of transaction completion. As of the date of the review (13.07.2020) deposit and withdrawal fees, inactive account commission and similar payments were not charged. In terms of this, the broker stands out among its competitors.

Exness Zero Raw Spread Zero
Inactive account commission 0 10 USD per month after 12 month of inactivity on the account 15 USD per month after 12 month of inactivity on the account
Withdrawal commission 0 $ 5 USD
Conversion commission At the current Forex rate 50 points At the current Forex rate +0.5%
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Reliability and regulation

Exness is a company with average level of reliability. Registration of the main platform in an offshore is compensated by licenses in Europe and extensive experience of operation.

Benefits and drawbacks
Benefits Drawbacks
  • 12 years in the market
  • EU and UK customers can work with subsidiaries that have local licenses with high degree of protection.
  • Registration in the Seychelles for operation in the markets outside the EU and the UK.
Benefits and drawbacks
Benefits
  • 12 years in the market
  • EU and UK customers can work with subsidiaries that have local licenses with high degree of protection.
Drawbacks
  • Registration in the Seychelles for operation in the markets outside the EU and the UK.

Exness.com website specifies that Nymstar Limited, registered in the Seychelles, is authorized to conduct activity under the brand and trademarks of Exness. Nymstar Limited holds the dealer license No. SD025 issued by Seychelles Financial Services Authority (FSA). Information of Nymstar Limited is confirmed on the website of FSA. The difference between the dealer and broker is that the dealer can perform transactions only with its own money.

Exness group also hold licenses in jurisdictions with higher level of regulation:

License Cyprus Securities and Exchange Commission (CySEC). No. 178/12. This legal entity operates on https://www.exness.eu. This information is confirmed on the website of the regulator.

Exness license in Cyprus

License of the Financial Conduct Authority of the UK (FCA). No. 730729. This legal entity operates on www.exness.uk.

Noteworthy, the EU and UK markets have much stricter rules that restrict the level of risk of customers than in the offshore jurisdictions. In particular, it is prohibited to provide leverage higher than 1:40. Exness complies with these rules, while in the other markets the leverage can reach 1:2000. Leverage trade is the key risk for the beginner traders.

As we are analyzing Exness.com website today, the license of the Seychelles is relevant for it.

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Markets and products

Exness is a classic broker with a focus on forex. Variety of types of accounts and currency pairs in this market is indeed impressive. In particular, the broker offers not only classic pairs and cross rates, but also a wide choice of exotic ones – with a total at 107 pairs.

In addition to currency pairs, contracts for differences (CFD) for cryptocurrencies, precious metals, shares, indices, and also key crude oil.

Noteworthy, there are no instruments for passive investment. The broker does not offer ETF, PAMM accounts and other comprehensive products. After all, active trading is not suitable for everybody.

In 2020, the broker has launched additional instruments, including CFDs for shares. It is possible that the trend will continue in the future.

Pros and Cons
Pros Cons
  • Wide choice of main and exotic currency pairs. In total, there are over 100 instruments.
  • Besides the currency pairs, the choice of markets is limited and all of them are represented via CFDs.
  • No instruments for passive investing.
  • No enough offers for automation of trading.
Pros and Cons
Pros
  • Wide choice of main and exotic currency pairs. In total, there are over 100 instruments.
Cons
  • Besides the currency pairs, the choice of markets is limited and all of them are represented via CFDs.
  • No instruments for passive investing.
  • No enough offers for automation of trading.
Comparison of brokers’ offers on different markets
Exness Zero eToro Forex.com
Currency pairs Yes Yes Yes
Shares and CFD for shares Yes Yes Yes
Indices Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity markets 12 19 21
Futures contracts No No Yes
Options No No No
ETF No 151 No
PAMM services No No No
Bonds No No No
Comprehensive investment products No Yes Yes

Exness is behind eToro in terms of variety of markets, but almost on the same level as Forex.com. Let’s look into each market separately and the variety of instrument inside it.

Forex market

This market is represented on the platform in full. 107 currency pairs are split into three big categories:

  • icon
    Majors main currency pairs. There are traditionally 7 of those on forex. They are EURUSD, GBPUSD, NZDUSD, USDJPY, AUDUSD, CHFUSD. They are represented in all types of accounts of Exness.
  • icon
    Secondary these are cross rates between the major world’s currencies. There is a total of around 30 pairs.
  • icon
    Exotic it is a large layer of rare currency pairs, which, as a rule, consist of one major currency and one rare currency. Liquidity and spreads on them leave a lot to be desired, but they are quite useful for some strategies. This includes such combinations as Australian dollar to Danish krone (AUDDKK), Danish krone against Singapore dollar (DKKSGD). Overall, there are around 70 pairs. The majority of them are unavailable on the ECN professional account.
Exness Zero eToro Forex.com
Number of currency pairs 107 47 91

By the indicator of representation of the forex market, Exness is confidently surpassing its competitors.

Stocks

Stock market is represented in a limited way through CFD.

NOTE! Purchasing CFDs on shares, investors do not receive ownership rights to a part of company, and, therefore, cannot expect to receive dividends.

The broker mainly offers contracts for American securities from the first echelon:

Technology sector: Apple, Google, Microsoft, Intel Corporation и др.
Media: Facebook, Netflix
Retail: Amazon, Walmart, Alibaba
Financial sector: Bank of America, Citigroup, JPMorgan Chase, Visa, Mastercard
Telecommunications: AT&T, Verizon
Raw materials: Exxon Mobil Corporation
Consumers goods and food products: Coca-Cola, Procter&Gamble

Entire sectors of the economy are non-existent on the platform. For example, there are no contracts for automotive companies, even super popular Tesla shares. In addition, there are no European and Asia stocks and ETFs.

Exness Zero eToro Forex.com
Number of instruments 31 over 1000 70
Number of markets 1 17 5
ETF 0 151 2

Indices

This segment is represented only by CFDs on the world’s leading indices.

USA: NASDAQ-100, S&P 500, Dow Jones 30
Germany: DAX
France: CAS 40
UK: FTSE 100
Europe: Euro Stoxx 50
Japan: Nikkei 225

Taking into account the focus on forex, absence of dollar index and futures on other large currencies on the platform seems like an oversight. Such instruments would be useful for many traders for comprehensive strategies.

Exness Zero eToro Forex.com
Number of instruments 9 13 18

Cryptocurrencies

Digital assets are represented with seven instruments – they are CFDs on pairs between fiat currencies (USD, KRW, JPY) and Bitcoin, and also dollar paired with Bitcoin Cash, Ethereum, XRP and Litecoin. Although the commissions on this market are rather pleasing, the variety of instruments clearly needs to be expanded. Also, it is worth noting that there are no cryptocurrency indices and futures.

Exness Zero eToro Forex.com
Number of instruments 7 16 8

Commodity markets

Commodity markets are represented on the platform with the following assets:

  • CFD on precious metals: gold, silver, palladium and platinum in pairs with dollar and euro.
  • CFD on energy resources: WTI and Brent crude oil.

Agricultural goods markets, ore and industrial metals markets are not represented at all.

Exness Zero eToro Forex.com
Number of instruments 12 19 21
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Opening an account on Exness

The variety of account types, simple registration and customer-oriented approach in conditions of work left a pleasant impression. We established that in this category the broker provides services at the same or higher level as its competitors.

Pros and Cons
Pros Cons
  • Variety of account types with flexible principles of work and charging of commissions, including with near-zero spreads.
  • Simple opening of an account.
  • Over 60 currencies of the account.
  • Minimum deposit - 1 USD.
  • Pro account with Instant Execution type of order execution.
Pros and Cons
Pros
  • Variety of account types with flexible principles of work and charging of commissions, including with near-zero spreads.
  • Simple opening of an account.
  • Over 60 currencies of the account.
  • Minimum deposit - 1 USD.
Cons
  • Pro account with Instant Execution type of order execution.

Exness minimum deposit

The broker has some of the most loyal requirements to the minimum deposit on the market, starting from $1 on Standard account. For other types of accounts and some services, the requirements for the minimum depositare higher.

Account type Minimum deposit
Standard 1 USD
Pro, Raw Spread, Zero, ECN 200 USD
Minimum deposit for VPS hosting connection 500 USD

Important specifications of the accounts

Commissions compared to the market Reliability Markets Types of execution of orders
Standard Average Average All Market
Pro Average Low All Instant
Raw Spread Low Average All Market
Zero Low Average All Market
ECN Average High Only Forex Market

Standard account

This type of account is suitable mainly for beginners, whose initial deposit is lower than $200. The spreads on this account are the highest of all, which is why there is pretty much not much sense in using it in other cases.

Key specifications:

  • Trading platforms: МТ4, МТ5, WebTerminal on MT5, iOS, Android.
  • Available currency accounts: over 60.
  • Instruments: 107 currency pairs, CFD on cryptocurrencies, indices, metals, shares of American companies.
  • Minimum deposit — 1 USD.
  • Turnover commission – n/a.
  • Commission per 1 lot - n/a.
  • Spread — variable.
  • Average spread for EURUSD - from 1 points.
  • Maximum number of positions - unlimited.
  • Minimum volume of lots — 0,01.
  • Maximum volume of lots — 7:00 - 20:59 GMT+0: 200 lots, 21:00 - 6:59 GMT+0: 20 lots.
  • Order execution – Market.
  • Leverage — up to 1:2000.
  • Stop Out — 0.
  • Margin Call - 60%.
  • Swap free– available.
  • Bonuses for deposit on the account — n/a.
  • Tick history: archive for previous years available.

Raw Spread

Raw Spread and Zero are similar by basic parameters and notable for very narrow spreads compared to the market. Practice of fixed commissions per trade is applied. Overall, they are lower than the market average, which is highly valued by the fans of trading robots, this parameter being one of the key parameters for success for them.

  • Trading platforms: МТ4, МТ5, WebTerminal on MT5, iOS, Android.
  • Available currency accounts: over 60.
  • Instruments: 107 currency pairs, CFD on cryptocurrencies, indices, metals, shares of American companies.
  • Minimum deposit — 200 USD.
  • Turnover commission – n/a.
  • Commission per 1 lot - up to 3.5 USD.
  • Spread — variable, from 0 points.
  • Average spread for EURUSD - from 0 points.
  • Maximum number of positions - unlimited
  • Minimum volume of lots — 0,01.
  • Maximum volume of lots — 7:00 - 20:59 GMT+0: 200 lots, 21:00 - 6:59 GMT+0: 20 lots.
  • Order execution - Market.
  • Leverage — up to 1:2000.
  • Stop Out — 0.
  • Margin Call - 30%.
  • Swap free for Muslim countries - available.
  • Bonuses for deposit on the account — n/a.
  • Tick history: archive for previous years available.

Zero

This is the most cost-saving account in terms of commissions, not only of Exness, but also one of the market leaders. The offer is better than that of the majority of those competing on the forex and cryptocurrency markets. On the stock market CFDs, the level of the offer is average.

Zero account implies zero spread. To be fair, there is a notion of natural market spread and there is broker’s spread. So, there is no broker spread on these accounts, while there can be market fluctuations in not the most liquid instruments.

  • Trading platforms: МТ4, МТ5, WebTerminal, iOS, Android.
  • Available currency accounts: over 60.
  • Instruments: 107 currency pairs, CFD on cryptocurrencies, indices, metals, shares of American companies.
  • Minimum deposit — 200 USD.
  • Turnover commission – n/a.
  • Commission per 1 lot - from 3.5 USD.
  • Spread — from 0.
  • Average spread for EURUSD - 0 points.
  • Maximum number of positions – unlimited.
  • Minimum volume of lots — 0,01.
  • Maximum volume of lots — 7:00 - 20:59 GMT+0: 200 lots, 21:00 - 6:59 GMT+0: 20 lots.
  • Order execution - Market.
  • Leverage — up to 1:2000.
  • Stop Out — 0.
  • Margin Call - 30%.
  • Swap free for Muslim countries - available.
  • Bonuses for deposit on the account — n/a.
  • Tick history: available.

ECN

This type of account is considered the most advanced in the market. The account will be suitable for customers, who value reliability over the size of commission. ECN account implies minimum influence of the broker on the trading and the highest speed of order execution. ECN system is an international decentralized network of suppliers of liquidity and traders.

ECN is the only account of the broker where the turnover commission is charged. It is 25 USD per $1 million (2.5 USD for a standard EURUSD lot). Also, in the majority of instruments, there are small spreads.

The drawbacks include a limited number of trading instruments – only 40 currency pairs, which is actually logical, as ECN is a system of the currency interbank exchange.

Trading platforms: МТ4, МТ5, WebTerminal on MT5, iOS, Android.

  • Available currency accounts: over 60.
  • Instruments: 40 currency pairs.
  • Minimum deposit — 200 USD.
  • Turnover commission - 25 USD per $1 million.
  • Commission per 1 lot – n/a.
  • Spread — variable, from 0.6 points.
  • Average spread for EURUSD - 0.6 points.
  • Maximum number of positions - unlimited.
  • Minimum volume of lots — 0,01.
  • Maximum volume of lots — 7:00 - 20:59 GMT+0: 200 lots, 21:00 - 6:59 GMT+0: 20 lots.
  • Order execution - Market.
  • Leverage — up to 1:2000.
  • Stop Out — 50%.
  • Margin Call - 100%.
  • Swap free for Muslim countries – n/a.
  • Bonuses for deposit on the account — n/a.
  • Tick history: archive for previous years available.

Pro account

An outdated Instant Execution practice is used on the Pro account. This could lead to such consequences as requotes, which is when the quote is placed on the queue of the quotes of other customers of the broker and is not always executed. Also, the same practice is used by the brokers at Dealing Desk, which threatens with an unpleasant prospect of getting a broker as a contracting party.

  • Trading platforms: МТ4, МТ5, WebTerminal, iOS, Android.
  • Available currency accounts: over 60.
  • Instruments: 107 currency pairs, CFD on cryptocurrencies, indices, metals, shares of American companies.
  • Minimum deposit — 200 USD.
  • Turnover commission – n/a.
  • Commission per 1 lot – n/a.
  • Spread — variable, from 0.3 points.
  • Average spread for EURUSD - from 0.6 points.
  • Maximum number of positions – unlimited.
  • Minimum volume of lots — 0,01.
  • Maximum volume of lots — 7:00 - 20:59 GMT+0: 200 lots, 21:00 - 6:59 GMT+0: 20 lots.
  • Order execution – Instant.
  • Leverage — up to 1:2000.
  • Stop Out — 0.
  • Margin Call - 30%.
  • Swap free for Muslim countries – available.
  • Bonuses for deposit on the account — n/a.
  • Tick history: archive for previous years available.

Demo

Demo version is offered for different types of accounts, with the exception of Standard Cent. It is available for MT4 and MT5 terminals. At creation of the demo, the traders are given a virtual balance of US $10,000.

Demo is recommended for:

  • Learning trading without the risk of losing your own money.
  • Testing conditions of the type of the account before making the final choice.
  • Testing of new trading strategies or signals.

How to open an account on Exness

The registration process on Exness platform is simple and takes no more than 10-20 minutes. The biggest difficulty is not opening an account, but verifying personal data. The broker supports KYC/AML international standards, which obligate financial organizations to confirm customer identity, and, if necessary, sources of their income.

What steps are included in the procedure of account opening?

  • 1
    Step 1

    Choose a trading account. Read about this above.

  • 2
    Step 2

    When you tap Open account button, the system will redirect you to the primary registration page.

    screenshot

    At this stage, you need to:

    • Review the provisions of the customer agreement and other documents (unfortunately, they are all available only in English);
    • Specify your country of residence. In the section Broker Geography we confirmed that citizens of Russia, EU and USA and also a number of other territories cannot become customers of the broker.
    • Specify your email and password for your personal account;
    • Tick to confirm that you are not a citizen/resident of the USA.
  • 3
    Step 3

    After registration you will be redirected to the trading platform. Demo account with $10,000 on the balance will be opened automatically.

  • 4
    Step 4

    Confirm your personal data. This is the longest procedure, but without it you will not be able to fully trade. You need to send the broker copies of documents, confirming your citizenship and registration. Within two business days, the broker will confirm them.


    There are guidelines on how to verify data in the short video in English.

Base currency accounts

Exness is one of the leaders by the number of offered account currencies – over 60. Why is it so important? Because it helps customers save on conversion. In particular, if the account is opened, say in Mexican peso, and you deposit money in peso, you will not lose on conversion of peso into dollars.

For example, eToro only has accounts in USD. The conversion rate is from 50 points of the base currency.

As of July 2020, the following currencies are available for Standard account:

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(for MT4 accounts only), SAR, SEK, SGD, SYP, THB, TND, TRY, TWD, UGX, USD, UAH, UZS, VND, ZAR, MAUUSD, MAGUSD, MPTUSD, MPDUSD, MBAUSD, MBBUSD, MBCUSD, MBDUSD.

The following currencies are available for ECN account:

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, ZAR

Exness eToro Forex.com
Number of account currencies Over 60 Only USD EUR, GBP, USD, AUD, CAD, CHF, JPY
how-to-open-bill

Methods of deposit and withdrawal

Exness provides a number of ways to deposit and withdraw money to satisfy the needs of the majority of customers. These include payment cards, electronic wallet, cryptocurrencies, etc. In some payment systems, instant withdrawal is available.

Exness eToro Forex.com
Bank cards Yes Yes Yes
Bank transfer Yes Yes Yes
Electronic wallet Yes Yes Yes
Cryptocurrency Yes No No
  • How much time does it take to withdraw money from Exness?

    In terms of the time required for withdrawal, it can range from several minutes to several days, depending on the chosen method. The broker set up automatic instant withdrawal for payment systems, while for bank cards and bitcoin the process may take time.

  • What is the minimum and maximum withdrawal amount on Exness?

    Everything depends on the payment system.

  • Does Exness charge commission for deposit and withdrawal?

    No, but payment system may charge their commission individually.

Let’s visualize information:

Period for withdrawal Maximum amount of withdrawal Minimum amount of withdrawal
Bank card (MasterCard, Visa) from 3 to 5 business days. 25000 USD 3 USD
Skrill Instantly 10 USD 12000 USD
Perfect Money Instantly 100000 USD 2 USD
Webmoney Instantly 100000 USD 1 USD
Neteller Instantly 10000 USD 4 USD
Yandex Money Within 24 hours 100000 RUB 1 USD
Bitcoin Up to 4 hours No restrictions No restrictions
broker-geo

Review of trading platforms

Exness offers standard and most popular forex platforms including MetaTrader 4, MetaTrader 5 and WebTerminal on the basis of MT5. MetaTrader terminals are available for Windows, Mac, Linux, and also mobile devices.

If one were to dream and look at the competitors, it would have been good to have software for automation of trade, which makes the work with statistics easier through automation of trade.

Pros Cons
  • MetaTrade family terminals for all main types of devices.
  • No own software for advanced traders and automation of trade.
Pros
  • MetaTrade family terminals for all main types of devices.
Cons
  • No own software for advanced traders and automation of trade.

Traditionally, let’s compare what the competitors have:

Exness eToro Forex.com
MT4, MT5 Yes No Yes
Web Yes Yes Yes
Own software for automation of trade No Yes Yes
Special tradingSpecial trading No Yes No
Software for advanced data analysis No No Yes

We are not doing a detailed review of the MetaTrade terminals, as they are not the broker’s own software. Let’s just focus on the main things.

MetaTrader 4

This has been the main ‘workhorse’ of the forex trading for many years. The interface is user-friendly and easy to understand even during learning. It has established itself as reliable and not overloading the hardware. However, there is a lack of orders and flexibility of timeframe settings.

Specifications

  • Analytics: 30 built-in indicators and 23 analytical objects.
  • Possibility to program trading robots for automatic work.
  • Development of own robots.
  • Simplification of fundamental analysis by information received directly at the terminal.

MetaTrader 5 trading terminal

This is an upgraded version of MT4, which fixed some drawbacks of the previous version. In particular, the platform has more advanced system of order placement, improved functionality for timeframe analysis. The hedging system allows to open divergent positions in one instrument. It is suitable both for the beginner trading and for creation of advanced trading robots.

Main specifications:

  • 4 types of order execution.
  • 6 types of deferred orders.
  • Newsfeed and statistics calendar.
  • Analytics: 38 built-in indicators and 22 analytical objects.
  • Improved security.
  • Strategy testing.
  • Availability of virtual hosting lease directed at the terminal.
  • Specialized MQL5 environment.

WebTerminal

Operates on the basis of MT. The key feature – does not require installation on the computer.

analytics

Analytics

Analytics of Exness leaves a lot to be desired. Everything is quite modest in terms of relevant content, trading signals and technical perks. Also, the majority of the materials are only available in English. Taking into account that the broker is positioned as international and actively operating in the countries with weak knowledge of English, it is a significant drawback.

Benefits Drawbacks
  • Free archive of tick data for 5 years.
  • The majority of content is only available in English.
  • There is very little of relevant analytics
  • No widgets for data analysis
Benefits
  • Free archive of tick data for 5 years.
Drawbacks
  • The majority of content is only available in English.
  • There is very little of relevant analytics
  • No widgets for data analysis

Analytical support of traders

The Insights and Analysis section features non-regular reviews of current events and technical analysis of some instruments. Reviews are of generally good quality and it is clear they are written by a competent writer. The disappointing thing is that they don’t come out regularly, not even every day. That is clearly not enough for a full-fledged analytical support of the customers.

Tick history

This is the most useful section out of all analytical information on the broker’s website. You can download the tick movement of base currency pairs for any month, starting from 2015 for free. Developers of trading robots will appreciate this option.

tick history Exness

Web TV

There is a section with the news of the specialized video service Trading Central on the website. The broadcasts are not only in English, but also in Russia, Arabic and Chinese. However, a more or less full-fledged business channel broadcasts only in English.

News

The website features an English-language newsfeed. The news can be filtered by tags. The news themselves are short messages on one of the currencies and timeframe with a very short commentary of a technical analyst.

broker’s newsfeed

There is also newsfeed in the corresponding sections of the terminals.

Trading alerts

Noteworthy, the broker practically did not provide a functionality for data analysis. In particular, the website does not have any automatic signal generation system, which has long become a part of ‘basic package’ for brokers.

Widgets

Calculator

Out of the widgets, the trading calculator deserves mentioning, as it allows to calculate the key parameters of a trade. In a special template, you need to choose the type of account, instrument, lot and leverage and the system will calculate the parameters.

calculator of position parameters

As for the drawbacks, the calculator does not provide the amount of all commissions on the trade, as, for example is done on RoboForex website.

Calendar

The calendar helps follow the relevant updates of economic statistics on the chosen currencies. There are also drawbacks here as well: there are no forecasts of analysts, the news items are not graded by importance, there are not filters to process information.

Economic event calendar
study

Learning

Just as the case with analytics, educational programs of Exness are rather superficial and unlikely to teach somebody how to trade. The majority of the materials are available only in English.

Benefits Drawbacks
  • Multi-language webinars
  • Superficial information
Benefits
  • Multi-language webinars
Drawbacks
  • Superficial information

Academy

There is a small archive of short educational videos titled Academy on the website. It consists of videos ranging from 30 sec to 2 min, which introduce the basic notions of trading: what is bid and ask, what is balance and what is CFD. There are also several videos on basic mistakes in trading and psychological difficulties of trading.

Exness academy

The idea is good, but the material is so superficial that it can be useful only for the customers, who heard something about forex for the first time.v

Webinars

The broker holds webinars once a month in one of four languages: English, Arabic, Indonesian and Vietnamese. There is no video archive on the website, which is why we could not provide a substantial feedback.

Glossary

Just as the rest of the educational content of the broker, this section is not developed well enough. It consists only of several dozen terms with explanations containing only 1-2 sentences. That is clearly not enough not only to learn, but at least get an idea about the topic.

client-support

Customer support

Overall, we find the customer support of the broker of rather high quality. The specialists offer support in 15 languages. The main information of the website is available in 18 languages. The only drawback is that the support operates 24/7 only in English, Chinese and Thai.

Cons Pros
  • 18 languages of the website and 15 languages of technical support.
  • Not all languages are supported 24 h.
Cons
  • 18 languages of the website and 15 languages of technical support.
Pros
  • Not all languages are supported 24 h.

To contact an operator call:

support

Multiparty
support:

8 (800) 555-03-23;

e-mail

Email:

support@exness.com;

live-chat

Live chat.

Languages and schedule of technical support of Exness:
Language Operating hours (GMT0)
English, Chinese, Thai 24/7
Indonesia Sun. 23:00 – Fri. 23:00
Arabic Sun. 23:00 – Fri. 23:00 Sat. - Sun. 12:00 - 20:00
Hindi and Urdu Sun. 23:00 – Fri. 23:00 Sat. - Sun. 04:00 - 20:00
Bengali Вс. 23:00 – Пт. 23:00 Сб. - Вс. 04:00 - 20:00
Vietnamese Sun. 23:00 – Fri. 17:00 Sat. - Sat. 03:00 - 11:00
Japanese Sun. - Fri. 23:00 - 15:00
Korean Sun. - Fri. 23:00 - 15:00
French Sun. 23:00 – Fri. 23:00
Spanish Sun. 23:00 – Fri. 23:00
Portuguese Sun. 23:00 – Fri. 23:00
Russian Mon.- Fri. 05:00 - 21:00

We have seen comments from the traders that when sending a request by email, they had to wait for response for several days on some occasions. Also, calling the broker on local number is not always successful. The broker explained that the delays could be due to the fact that the operation is not 24/7 for some languages.

bonus-promo

Bonuses and promo

At the moment, Exness is not actively advertising bonus programs. In this way, the company is supporting the requirements of forex market regulators, which demand abandoning of such methods of increasing customer activity in many countries. So, this fact can be considered a positive feature.

The most known advertising campaign of recent years is the partnership with Read Madrid, one of the most popular teams in the world. In 2017, the broker signed a three-year sponsorship deal with the football club, which is also mentioned on the official website of the club.

Exness and Real Madrid
summary

Summary

Exness is a broker for specific goals. It is better suitable for the traders who consider the issue of commissions on the forex market important. The broker offers attractive trading plans, provides tick history and tries to create minimum issues during registration of an account and withdrawal of money.

However, diversity of trading instruments outside the forex market, advanced software and educational programs are not the qualities you will find in abundance on Exness. Regulation in the Seychelles also leaves questions, although, taking into account the 12-year experience and quite stable reputation, it is not critical.

EXNESS
Rating 7.5 14
Confidence: 0.92
7 5 2 14
Official Website: https://www.exness.com/

News EXNESS