Exness Review 2019 | What Type of Exness Broker is?

If you want to know how to trade on Exness and what type of broker it is, then you are on the right page. Here we have a thorough Exness review along with its features and details. Exness is a reputable Forex broker that is regulated by CySec itself and by the FCA. Therefore, it adheres to all the standards that all European brokers or companies are required to fulfil. Regulation is very important, and it’s usually the first thing people want to know. So now that we’ve got that out of the way, we can go into more detail about what it has to offer.

Exness Overview

Exness is a Forex and ECN broker established in 2008 in Russia by Petr Valov. It is divided into three entities, and they are Exness Limited, Exness CY, and Exness UK. Right now, the headquarter of the company is located in Cyprus, and its operation offices are in the UK, Singapore, and Malaysia. The company strives to provide the best trading services to its clients in a variety of financial markets. According to Exness, it claims to value openness and overall transparency, partly because of the challenges of its location. Exness also offers its services on MetaTrader 4 and MetaTrader 5, two of the most popular platforms famous to traders.

exness review

It should be said, that the company is a market-maker, and it provides order execution and pricing from its dealing desk to the clients. Also, it offers ECN (Electronic Communication Network), which allows its clients’ direct access to the interbank Forex market. However, you could only do this through their ECN account, which is only offered on Exness Limited.

Exness Features and Benefits

Following are a few benefits including some benefits among the features.

Website Design

In this Exness review, the first thing that screams out at you when you go onto their website is the welcoming bold and colourful images. Exness, unlike most brokers, has taken the time to create a user-friendly interface that is exciting and easy to use. So easy that even beginners can quickly grasp how to use Exness. It has the kind of appearance that keeps clients engaged and perhaps urges them to create an account as well.

Best Rates via ECN

Through ECN, Exness allows traders an opportunity to connect to the interbank markets for the best possible rates. How the system works is that it organises the client’s orders such that it compares prices with the providers connected to the aggregator and carries out the execution of the orders strategically for the best prices. Moreover, the client can easily access all the relevant data upon request.

exness review

Some other benefits and features Exness review covers include:

  • Instant withdrawal of funds
  • It provides 24/7 technical support in 13 languages
  • Instant and market execution
  • Leverage up to 1: unlimited
  • It permits all trading strategies

Account Types of Exness

Exness offers four types of accounts that are appropriate for both beginner and professional traders. The Exness accounts include Cent, Mini, Classic and ECN accounts. Beginners can use Cent account, however for professional traders Mini and Classic accounts are perfect. On the other hand, the ECN account is best suitable for experts. To get success in trading, you have to choose the right type of account.

Exness review

1.      ECN Account

The ECN account offered by Exness is intended for expert traders so to speak; those that want to trade without having to deal with brokers conflict of interest. The spread is close to zero with this account. It also charges the lowest commission compared to other brokers. Therefore, if you are an experienced trader, then the ECN account may be for you.

2.      The Classic Account

This account is for average investors. It offers a lot of trading tools and advantages that most brokers don’t as well. This Exness account also does not require any commission, which is excellent.

3.      The Mini Account

With the Mini account, the Exness review shows that it has a very low spread and no minimum deposit. Therefore, it is suitable for beginners and those who do not want to trade large amounts.

4.      Cent Account

The simplest type of account that is offered by Exness is Cent account. Thus, it is ideal for beginners who are looking to test the Forex trading platform. It is also entirely appropriate for learning.

Beginner Traders

As beginners don’t have lots of experience and knowledge about trading, so the Cent account is best for them. An account is required with a small amount of money to deposit, allow them to trade small positions along with low margin requirement.

  • According to the Exness review, the Cent account is ideal for starters because:
  • It has a low spread. For most of the main currency pairs, the spread is from 0.3 pip.
  • It has low margin requirement. You can use high leverage up to 1 and with unlimited, you can minimise your margin.
  • For this account, Exness broker minimum deposit is not needed. You are free to deposit as low as you want. Keep in mind that beginners should not trade much. For practice, they should deposit a small amount of money at first and once they are ready, they can increase the trading volume.
  • It has low minimum volume per trade as lower it is, the better it would be.
  • It has great local support.

Professional Traders

Most of the professional traders like the Mini and Classic accounts of Exness because they have excellent trading conditions. Scalpers love low spread accounts. Swap free accounts are preferred in long term investors. The lower the spread, the better the accounts would be.

These accounts are really excellent because:

  • They have a low spread. For Classic, the spread is from 0.1 pip, whereas for Mini, the spread is from 0.3 pip.
  • They don’t have any trading commission.
  • According to the Exness review, they have unlimited leverage.
  • For the Mini account of Exness, the minimum deposit is not required. For a Classic account, the Exness minimum deposit is $2000.
  • You can deposit from local banks, credit cards, and e-wallets as they have instant deposit and withdrawal.
  • 24/7 hour customer support is also provided.
  • For Islamic countries, they offer free to swap as well as for cryptocurrencies trading.

Expert Traders

After the advanced research of most traders, it is proved that the ECN account is the best account. It is because when you trade ECN, it means that you are trading in the real market. However, to trade with ECN is not an easy thing. As compared to regular accounts, ECN quotes are more volatile. Other than that, you also have to pay for each trade. That is the reason behind preferring the regular accounts to ECN account to the most less experienced traders.

Exness Spreads and Commissions

When it comes to commissions, Exness doesn’t charge any for the classic account, the mini account, and the cent account. Therefore, if you are looking for a broker that doesn’t charge a commission; Exness might be the right choice for you. According to the Exness review, no hidden fees needed to pay because they make money on the spreads when you trade on their accounts. In addition, I should mention this; Exness’s spreads are one of the lowest that you will find. The classic account has the lowest spreads; however, you will have to deposit a minimum of 2,000 dollars to start trading on the account. On the other accounts, spreads are higher, but there isn’t a limit on the minimum deposit.

exness review

Most of the currency pair spreads are lower than 1 pip. The spreads are usually around 0.5 to 0.8 pips when the market is stable. Since they offer cryptocurrencies for trading, Exness spreads on those are also one of the lowest that you can find when looking for a broker. In addition to that, they don’t charge a swap for cryptocurrency trading.

Is Exness Broker Safe?

First of all, Exness.com is regulated by two reliable Authorities; FCA in the UK and CySec in Cyprus. Secondly, all companies that are regulated by CySec fall under the Investor Compensation Fund, so they protect client claims and each client is provided with up to 20 000 Euros in compensation. Finally, FCA regulation offers support from the Financial Services Compensation Scheme. Therefore, each person gets up to 50,000-compensation cover. So, in a nutshell, I’d say trading on Exness is pretty safe.

Are Accounts Private and Secure?

According to Exness review, when it comes to security, in order to protect login information Exness has implemented a 2-factor authentication protocol. What this means for traders is that they have an extra step in security so their accounts can stay protected. That is why the company has developed optimal systems and security methods to keep trading accounts safe. So, any operations on trading accounts are performed by the owner account only.

Funds of Exness clients are on segregated accounts. What this means is that clients’ funds for trading are separated from the company’s own funds. The protection of users’ data with Exness is done by using cybersecurity protocols. That is done by encrypting all data from the users that is transmitted to the database of Exness; so your account will stay private at all times.

Customer Support

Exness review shows that it has excellent customer support; this is evident in client reviews and even comments from other brokers. They offer support in several languages and make sure that your problem is resolved or any questions you have are answered. Clients can contact them via their call back service, live chat, over the phone and through email in several ways.

Exness Bonuses and Promotions

Finally, after going through everything important, now for the fun part bonuses and promotions. Sadly, in the moment of writing the article, no bonuses and promotions are offered by Exness. However, it doesn’t mean that there won’t be any. Since the company offers seasonal bonuses that depend on the occasions that are celebrated by its clients, there will undoubtedly be bonuses. The seasonal bonuses, for example, are given on New Years, and for its Muslim clients it has a bonus for Eid-al-Adha; also, Exness review shows that it doesn’t forget about its Hindu and Buddhist clients, so they have something for them as well.

exness review

When it comes to promotions, Exness offers some from time to time. There are no schedules for these promotions, and the broker decides when it will have them.

Also, seeing that Exness is not offering any promotions right now, you can take a look at what promotions is EverFX offering.

Deposits and Withdrawals Options

Here in the Exness review, you will see that this broker offers up to 35 methods of depositing and withdrawing. It would be really convenient to withdraw with the company when it has a wide range of payment methods available. According to the different entities, here are the deposit and withdrawal methods that Exness offered.

  • Debit/Credit Cards
  • With Exness you can even use Visa and Master card. Usually, deposits are processed instantly, and withdrawals typically take 3-5 working days. You can apply this method with almost all the Exness entities.
  • With Bank wire, you may have to wait for the processing as it takes the time of 3-5 days. All of the Exness traders (CY and UK) are available with Bank wire.
  • E-wallet methods are available as well such as Neteller, Skrill, WebMoney (Exness Ltd only), and PerfectMoney (Exness Ltd only). For these methods, transactions are generally processed instantly.
  • To deposit or withdraw finds you can use Bitcoin with Exness Ltd only.
  • For Exness Ltd, a huge range of local payment methods explicit to Thailand, China, Vietnam, and other countries may also be used.
  • The payment system used is the basis of the commission on deposit and withdrawal.
  • The Exness review also shows that the traders are allowed to store their account capital in any of the 80 different fiat currencies and the specialised metal currency accounts as well.
  • Exness created the metal currency accounts, which pairs specific fiat currencies with precious metals including Gold, Silver, Platinum, and Palladium. Only Exness Ltd have metal currency accounts.

Exness review

Final Thoughts

According to the Exness review, the best thing that differentiates it from other brokers is the fact that they care for their clients and they make a genuine effort in providing quality services. They go to the extra mile so to speak, and this shows in their customer support efficiency and in the set-up of their website, which is attractive and user-friendly. I would recommend Exness as it seems quite reliable and safe and I believe you would be in good hands.

However, you should, before starting trading with any broker, check what other brokers are offering, and choose the right one for you. That is why we have multiple reviews on different brokers that you can take a look here. Besides that, I need to check if you have a strategy for trading because even before knowing what broker you want to trade with, you should have some kind of strategy prepared. If you don’t, we have one made for you, and it is called ”One-Two” strategy.

Carry on with your exploration of the best broker and choose the right one for you.

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