Exness Review
Introduction and Background information
Exness was established in 2008 and is located at F20, 1st floor, Eden Plaza, Eden Island, Seychelles. The forex broker offers over 200 different instruments for trading. Exness actually is a group operating through two different entities which are Exness UK Ltd, and Exness (Cy) Ltd.
Account types
Different types of accounts are offered by Exness. The most prominent ones are the Mini MT4 and the Classic MT4.
A minimum deposit of $1 is required for the Mini MT4 while a minimum deposit of $2,000 is required for the Classic MT4. Maximum leverage applicable to both accounts is 1:200.
The other featrures of the Mini MT4 account are as follows: a minimum lot size of 0.01, a maximum number of open positions set at 100, no maximum cumulative number of positions, and margin call at 60% while stop oout is set at 0%.
For the Classic MT4 account, the minimum lot size is 0.1 lots with no limits to the number of open positions or cumulative volume of positions. The margin call is set at 30% while stop out is at 0%.
Instruments
Exness offers 200+ instruments for trading which includes 104 forex currency pairs, and 112 CFDs in indices, commodities, cyptocurrencies, and precious metals.
Social/copy trading is available at Exness.
Education
Exness has educational content for traders. It also offers different research and analysis materials from third-party sources such as Trading Central. Dow Jones News feeds is also available with the broker.
Regulation
Exness is regulated by the Financial Conduct Authority (FCA) in the UK and in Cyprus by the Cyprus Securities and Exchange Commission (CySEC).
Exness offers only MetaTrader platforms. The platforms are MT4, MT5, and the mobile (android and iOS) platforms.
Deposit and Withdrawals
Deposits can be made into the different accounts through wire transfer and e-currency/eWallets. The deposit methods are VISA, MasterCard, AstroPay, Bitcoin, Boleto, CASHU, FasaPay, Local Bank Deposits, Local Bank Transfers, Neosurf, Neteller, Oxxo, PerfectMoney, Skrill, Tether, WebMoney.
Withdrawal methods for Exness are VISA, MasterCard, Bitcoin, Neteller, PerfectMoney, Skrill, Tether, WebMoney.
Fees (Spreads/commission)
The spread charged by Exness varies depending on the account type. Comparing the Mini MT4 and the Classic MT4 accounts, spreads start from 0.3 pips on the Mini MT4 account while spread starts from 0.1 pips on the Classic MT4 account.
For the Classic account the average spread is 0.9 pips.
Execution
The broker owns up to slippages. Exness notes that slippages can occut within the first 3 hours of trading for a given instrument. The gap level varies from instrument to instrument ranging from 8 to 40 points.
Customer Support
Exness can be contacted via the phone service, email, or live chat.
Phone – 00801 14 8968
Email – [email protected]
Promotion
Exness is currently offering the following promotions.
Conclusion
In conclusion, Exness seems like a decent broker with EU regulation.
