Exness is known for its lucrative trading conditions, high security, reduced trading costs, and wide range of financial instruments. Moreover, the forex broker offers different account types suitable for novice, experienced and professional traders. For instance, the demo and standard cent accounts are offered to novice traders while standard and ECN account types are for experienced traders. These account types allow various trading strategies to be tested including passive strategies such as copy trading and algorithmic trading. The activities of Exness are overseen by different financial services commissions such as the Seychelles Financial Services Authority, the Mauritius Financial Services Commission, and the Central Bank of Curacao and Sint Maarten.
Exness is a Forex broker based in Limassol, Cyprus.
Account Types
Exness offers 5 trading account types that are split into two categories: Standard type and Professional type. The Standard Account is designed for novice traders and is split into Standard and Standard Cent Account while the Professional Accounts are designed for experienced traders. They are split into four: Raw Spread, Zero, and Pro.
Standard Account
This Exness account type is designed to provide a conducive trading environment for beginners. The minimum deposit for Standard depends on the payment system and starts from $10, there are no commissions and spreads are from 0.3 pips. This account offers an unlimited number of positions, a maximum lot size of 200-20, and a minimum lot size of 0.01. The trading instruments for Standard include forex currency pairs, metals, cryptocurrencies, energies, stocks and indices.
Standard Cent Account
The minimum deposit for Standard Cents depends on the payment system and starts from $10, there are no commissions and spreads are from 0.3 pips. This account has a maximum number of positions (1000), a maximum lot size of 200-20, and a minimum lot size of 0.01. The trading instruments for Standard Cents include forex and metals.
Raw Spread
Raw Spread has a minimum deposit of $200, with a commission of up to $3.50 on each side per lot and a spread of 0.0. This account offers an unlimited number of positions, a maximum lot size of 200-20, and a minimum lot size of 0.01. The trading instruments for Raw Spread includes, forex, metals, cryptocurrencies, energies, stocks and indices.
Zero
Zero has a minimum deposit of $200, with a commission of up to $0.1 on each side per lot and a spread of 0.0. This account offers an unlimited number of positions, a maximum lot size of 200-20, and a minimum lot size of 0.01. The trading instruments for Zero includes, forex, metals, cryptocurrencies, energies, stocks and indices.
Pro
Pro has a minimum deposit of $200, with no commission and a spread of 0.0. This Exness account type offers an unlimited number of positions, a maximum lot size of 200-20, and a minimum lot size of 0.01. The trading instruments for Raw Spread includes, forex, metals, cryptocurrencies, energies, stocks and indices.
Exness offers a leverage of 1:2000 which is used to borrow funds in order to increase the size of your trading position greater than what would be possible using only the cash in your account. This high leverage means that with an account of $1,000, you can control market positions of up to $2000,000. Exness sometimes offers unlimited leverage.
Demo Accounts
Exness provides demo accounts for both the Trading Terminal platform and MetaTrader. These demo accounts allow traders to practice their trading strategy, improve their trading skills, and familiarize themselves with the conditions of the forex market as well as other financial markets. In addition, traders get to acquaint themselves with the trading platform without the risk of using real money.
Exness demo accounts feature live quotes and stimulate real market conditions on assets such as forex and CDFs on commodities, stocks and indices. Once traders get comfortable with the demo account and have developed reliable trading strategies, they can easily transition to a live version.
Islamic Accounts
Exness Islamic swap free accounts are only eligible to citizens of Islamic communities.
Fees And Commissions
- Trading Fees: Exness offers variable spreads that are subject to a slight fluctuation based on the market liquidity. Liquidity describes the ease of buying and selling an instrument without significantly affecting its price. Usually, Traders experience a tighter spread when market liquidity is high. For the standard account, Exness only earns money on spreads which helps to keep trading costs low.
- Swap Fees: Exness does not impose swap fees on instruments like stocks, crypto, gold, indices and select popular currencies, depending on the account setting. There are two swap free levels: Standard and Extended, with their difference being the number of instruments that can be kept overnight without being charged.
Exness Standard swap free level does not charge swap fees on instruments like XAU/USD, cryptocurrencies, indices, or stock while other instruments are charged,
Non-Trading Fees: There is no inactivity fee charge.
Tradable Instruments
- Currency Pairs: Exness offers up to 100 currency pairs. A currency pair consists of two distinct currencies, with the value of one currency quoted against the other. For instance, EUR/USD represents the value of euros measured in US dollars.
- Cryptocurrencies: Cryptocurrencies like Bitcoin are digital currencies secured by cryptography. Exness offers up to 33 cryptocurrencies.
- Indices: An index is a collection of trading instruments used to measure a market sector, stocks within an exchange or the overall economy of a country.
- Stock CFDs: A stock represents the partial ownership of a corporation. When trading CFDs, it’s crucial to note that you are speculating on the price of a stock without actually acquiring ownership of the underlying company.
- Commodities CFDs: Commodities are raw materials such as gold and oil that are traded in the financial market.
Contracts for Differences (CFDs) are financial derivative products that enable traders to contemplate on various markets without the need to own an underlying asset. CFDs run the risk of losing money rapidly due to leverage.
Platform
Exness Terminal Platform is known for its rich features and user-friendly interface. Additionally, MetaTrader 4 and 5 are available, offering a wider range of order types and systematic trading capabilities.
Exness Terminal Web Platform
The Exness Terminal features popular and intuitive interfaces such as watchlists, 1-click trading, and trading directly from the chart. Moreover, it offers unique features such as a sentiment indicator, which indicates the percentage of buy and sell orders recently opened by other traders.
Available order types on Exness include market orders and pending orders (like buy limit, sell limit, buy stop, sell stop etc). However, trailing stop and time-in-force orders ( such as GTC) are not available.
Advanced charts from Trading Views are seamlessly integrated into the Exness Terminal platform. The advanced chart includes: 88 technical indicators, 32 drawing tools, 14 time frame and 11 chart types.
Exness Trade App
Exness Trade App is available for iOS and Android providing access to over 200 instruments. Equipped with a user-friendly interface, the app is designed for beginners. Deposits and withdrawals can be made instantly and customer support is readily available.
The app features two chart types (line and candles), seven timeframes, classic indicators, an economic calendar, market news, and trading ideas from Trading Central. Order types within the app include market order and pending orders.
MetaTrader 4 and 5
Exness provides MetaTrader 4 and 5 platforms suitable for desktops, featuring advanced functions like copy trading and automated trading capabilities.
MetaTrader 4 provides features such as: alerts, watchlists, one-click trading, and trading from the chart. In addition, the platform provides various order types such as: market order, limit order, stop loss order, and trailing stop order.
The charting features of MetaTrader 4 is quite large, it includes: 30 technical indicators, 23 analytical objectives, 9 time frames, and 3 chart types (bar charts, Japanese candlestick chart and line chart)
MetaTrader 4 account holders can access the MetaTrader 4 Web Platform, which is a slightly simplified version of the desktop platform. The web-based platform allows trading without the need for additional software, requiring only an internet connection.
Research
Exness provides a wide range of research materials both in the Exness Terminal Platform and the Exness Trader App. Traders have access to key economic events with the economic calendar provided on Exness website. The calendar displays the anticipated impact of economic release, along with the actual figure, analyst forecast, and figures from previous releases. Trading Central WebTV is also accessible via Exness website, offering daily videos which feature commentary, trading ideas and news directly from the floor of the New York Stock Exchange.
Trading signals provided by Trading Central are accessible within the personal area under a section named Analyst Views on the Exness platform. Users can select the preferred market they wish to view. The analysis is based on technical data, such as “The MACD is below its signal line and positive,” accompanied by clear forecasts like “USD/ZAR may increase from 1200-15000 pips”. Traders filter out these ideas based on their time frame, whether short term or long term.
Within the client portal, the Market News section provides real time feedback on market news and the latest information from the FXStreet team.
Education
Exness offers in-depth educational material that caters to both novice and experienced traders. There are three types of educational material, courses, articles, and video content.
Exness Academy courses are of three types
How Trading Works: This course consists of 11 video lessons and articles, it is targeted towards novice traders and covers basic topics such as ‘what are CDFs?’, ‘Margin and Leverage’ etc.
How to Analyze: This course consist of 10 videos video lessons and articles, it is targeted towards intermediate-level traders and covers in details topics such as Support and resistance, and Sentiments
Managing Risk: This course consists of 7 videos, video lessons and articles, it is targeted towards intermediate-level traders and covers in detail topics such as The Psychology of Trading, and Managing Risk with Stop and Targets.
Exness has over 30 explanatory articles that cover several subjects traders may need to know, these articles can be found in the Knowledge Base Section. The section also contains videos that cover basic topics like pips and points.
Deposits And Withdrawals
Exness allows instant withdrawals, through the availability of various withdrawal methods such as, credits cards, cryptocurrencies, and digital wallets (e.g Neteller). You can choose a payment method based on your preference.
Deposits can be made through various methods such as bank transfer to credit card, cryptocurrencies and digital wallets. Keep in mind that the minimum deposit and processing time depends on the payment method used, for instance, Bitcoin, Bank Card, Internet Banking, and Skrill all have a minimum deposit of $10, but each have different processing time of up to 3 days, up to 5 days, up to 7 days and within 5 hours respectively.
Note that
- Bank Transfer deposit option is a service that is not available in all countries.
- Bitcoins can be deposited but cannot be withdrawn.
- Withdrawals can only be made on accounts that bear the trader name.
- Each system has a minimum withdrawal amount. For example, Neteller has a minimum withdrawal amount of $4 whereas, for Skrill it is $10.if a trader is to withdraw cryptocurrencies, the minimum amount for ERC20 is $100 and for TRC2O it is $10.
- Withdrawals can be submitted on any day, and submitted requests are confirmed within several minutes since processing isn’t manual.
Customer Support
Customer support is one of the standout features of the trading platform. Having a reliable customer support system is part of the platform’s effort to provide a trading environment where the needs of most traders are met.
It begins with an AI chat bot to ensure that you get the answers you need on time. However, if the AI chat bot doesn’t provide satisfactory answers to your questions then a live customer support representative will be assigned to assist you. Inquiries can also be made via Exness email services. To get a faster response, you can reach out to a customer support representative by placing a phone call.
Conclusion
Exness is a trading company with 15 years of operating history and is one of the most popular trading platforms. Their activities are regulated by various top-tier financial commissions including CySEC and the UK FCA.
Throughout their 15 years in forex trading, Exness has succeeded in creating a secure trading environment through the transparency in their regulatory status. For instance, all their entities and their respective regulators are listed on their Regulation page.
Exness offers 5 different account types that are divided into two categories. The Standard account is designed for novice traders and is split into Standard and Standard Cent while the Professional Account is designed for experienced traders and is split into Raw Spread, Zero, and Pro.
In addition to the account types, the trading platform also provides demo and Islamic accounts. The demo account is used to practice trading strategies in the foreign exchange market and to get familiar with the platform without the risk of using real money, whereas the Islamic account is available to citizens of Islamic countries.
Although it has different account types and offerings for clients, Exness still manages to keep its trading costs low and provide a trading environment that completely caters to the needs of traders across the board.
Thanks to the platform’s research materials, educational content, and transparent trading environment, it is viewed as a good broker and a suitable choice for most novice traders. It also offers massive leverage, tight spread spread, and advanced tools which are appealing features to advanced traders. Coupled with this, the minimum swap fee and social trading capabilities are viewed as an added bonus.
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