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Exness Group is an online company started by a group of finance and information technology experts in 2008. Over the years, the multi-asset online trading platform has morphed into one of the most popular online brokerages.
In just 12 years, the broker has established a global footprint as their online trading services are available in virtually all countries across the world.
Some of Exness key selling points include instantaneous and automated deposit/withdrawal processing, a straightforward onboarding process, a multilingual website, and a multi-account setup.
In this comprehensive Exness broker review, we look at these and more Exness features in detail, its pros, and cons, and answer the question of whether it is a legit online trading platform.
Quick Exness Broker Summary
- Headquarters Cyprus
- Regulation CySEC, FSA, FSCA
- Platforms MT4 Web, MT4 Windows, MT4 App
- Instruments Forex, Crypto, commodities, stocks
- Demo Account Yes
- Minimum Deposit $10
- EUR/USD Spreads 0.5
Service Available At
Pros and Cons of using Exness
Features of Exness broker
Account types offered
- Standard: Exness describes the standard account as their most popular account yet. And you can choose to open a Standard or a Standard Cent (popular for newbies) accounts. These two accounts have almost similar features. They, for instance, are both commission-free and have their minimum deposit of $1. The only difference between the two is that the Cent account has its maximum number of positions capped at 1000, and can only trade FX pairs and metals. Standard accounts can, on the other hand, trade all supported instruments and there is no limit to the number of open positions.
- Raw Spread: The Raw spread account has the lowest spreads and also benefits from relatively low fixed commission. With this account, there is no limit to the number of positions that you can open. Margin call here is set at 30% while stop out is set at 0%. Its sharia-compliant version is available too, with its minimum deposit set at $500, spreads as low as 0.0 pips, and the commission capped at $3.5 per trade.
- Zero Spread: The Exness zero spread account is in many ways similar to the Raw Spread account. Both their spreads can be as low as 0.0 pips and the margin call level set at 30%. Like the Raw account, the Zero spread account has its minimum deposit set at $500, it embraces market order execution, and a sharia-compliant account is also available. But unlike a Raw Spread account, the commissions for Zero Spread accounts start from $3.5.
- PRO: The Exness PRO account is also referred to as the instant execution account. Pro account users do not pay trading commission but spreads start from 0.1 pips. It also enjoys all the benefits of the Zero and Raw spread accounts, including The 30% margin call levels, Availability of a sharia-compliant version of the pro account, Unlimited number of open positions, and maximum lot size of 200 lots.
But unlike the two that embrace market order execution. PRO accounts allow for both instant and market order execution models.
Trading platforms offered
Exness does not operate a proprietary trading platform. Instead, it relies on the universal MetaTrader platform. The most popular trading platform for Exness traders is the MT4 trading platform that hosts a wide range of trading and analysis tools.
The MT4 desktop app is available for both Windows and Linux OS, employs 128-bit encryption for all communications, and supports the integration of trading robots.
The MT5 is the more advanced and relatively sophisticated upgrade of the MT4. It integrates all the key aspects of the MT4 and enriches it with even more advanced features.
In addition to supporting both market and instant order execution models of trading, MT5 introduces traders to the Fill or Kill (FOK) execution policy. It integrates 6 pending order types and in addition to Windows and Linux OS MT5 is available for the Mac OS.
You don’t always have to download the trading platform when trading on Exness. The broker facilitates web-based online trading via WebTerminal – the much shredded-down version of the MetaTrader platform.
It features basic trading and analysis tools, customizable charts, and all trading operations. For more advanced trading tools, market research, and analysis, you will have to download the MT4/5.
Exness makes it possible for you to trade and monitor your account while on the move via the MT4 mobile app. The app features virtually all the features of the desktop MT4 trader. It however has the added advantage of mobility and accessibility as it makes it possible to access your account from virtually any part of the world.
Regulation and Reputation
Exness has several registered offices:
- Cyprus office is operated under Exness (Cy) Ltd and is regulated by the Cyprus Securities and Exchange Commission (CySEC)
- The Seychelles office is operated under the name Nymstar Limited that is registered as a Securities Dealer and regulated by the Financial Services Authority (FSA).
- The South Africa office is operated by Verizo (Pty) Ltd, a Financial Services Provider (FSP) company registered in the country, and regulated by Financial Services Conduct Authority (FSCA).
In the 12 years that Exness has been around, it has built a solid reputation of trust and reliability. There is an overwhelming amount of praise on Quora about the Exness, particularly when it comes to fast withdrawal processing and fast order execution.
On the Forex Peace Army and Reddit Forums, however, numerous reviewers have accused Exness of spread manipulation arguing that their trades were halted at different (financially hurting) stop-loss levels. Here is what one user had to say:
Another user complained of his money being held for too long by the broker. Here are his exact words:
Exness maintains one of the most responsive customer support teams:
- They call new users to welcome them onto the trading platform,
- The team is quick to respond to customer complaints,
- And have also responded to virtually all the complaints about their platform on such review sites as Forex Peace Army.
Here is how Exness broker’s customer care performs in comparison with equally competitive brokers:
- Facebook: https://www.facebook.com/exness/
- Twitter: https://twitter.com/exness
- LinkedIn: https://www.linkedin.com/company/exness/
- Instagram: https://www.instagram.com/exness/?hl=en
Minimum deposit and withdrawal and supported payment methods
Here are all the payment methods supported on Exness and their minimum deposit amount:
- Bitcoin: $0
- USDT: $1
- Credit/Debit card: $3
- Neteller: $10
- Skrill: $10
- WebMoney: $1
There is no maximum deposit and withdrawal amount when using Exness.
Exness maintains some of the lowest trading fees and commissions. The standard accounts are commission-free and spreads start from 0.3 pips.
Raw account has its commission capped at $3.5 and spreads from 0.0 pips while Zero account’s spread starts from 0.0 pips and commission at $3.5. The PRO account is commission-free, but its spread starts from 0.1 pips.
Check out the table below where we've compared Exness fees with those of equally competitive brokers:
Leverage and margin
How much leverage you access when trading Exness is largely dependent on your preferred trading platform. All MT4 accounts have access to unlimited leverage, but the leverage for accounts on the MT5 platform is capped at 1:2000.
Note that the maximum margin is also subject to your country of residence’s leverage policies.
When trading on Exness, you have access to four popular trade instruments. These include:
- Crypto: 7 cryptocurrencies and stablecoins
- Forex: 107 major, minor, and exotic currency pairs
- Stocks: 81 international stock and indices
- Commodities: 12 Metals and energies
Is Exness legit?
Yes, Exness is a legit online brokerage that has been around for over a decade. It has put in place several trading and non-trading measures aimed at making its platform user-friendly and easy to use. We especially liked the following about the broker:
- Their unlimited leverage claim
- The fact that it is a regulated exchange
- Availability of different accounts designed for different classes of traders
- And the emphasis it has paid to the security of customer deposits.
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