Here Are the 10 Pros and Cons:

Exness Fact sheet

When choosing a broker, the most important characteristic to look for is the level of safety. How exactly is it possible to tell the difference between trustworthy and unreliable brokers? The answer is simple: reliable brokers are strictly regulated. 

Regulators vary in terms of their policies. Exness is regulated by top-tier regulators such as the UK's FCA. As well as second and third-tier regulatory bodies. 

Here you can see the complete list of regulators:

• The Financial Services Authority in Seychelles (FSA)
• The Central Bank of Curaçao and Sint Maarten (CBCS)
• The Financial Services Commission in BVI (FSC)
• The Financial Services Commission (FSC) in Mauritius
• The Financial Sector Conduct Authority (FSCA) in South Africa 
• The Cyprus Securities and Exchange Commission (CySEC)
• The Financial Conduct Authority (FCA) in the United Kingdom

Thanks to the wide variety of regulatory bodies, Exness is considered to be a safe broker for investors to open their trading accounts with.

Policies that Exness follows

Exness provides negative balance protection to its clients. The broker provides an unlimited amount of leverage for trading Forex pairs. Leverage enables traders to trade much larger positions using borrowed funds than they would otherwise be able to. As a result, the risk of losing more money than is on the traders’ accounts arises. To diminish the risks, the broker offers negative balance protection that stops funds from going below the zero limit.

In addition, Exness keeps traders’ funds in segregated bank accounts. As a result, even if the company goes bankrupt, traders can withdraw their money. Some low-trust brokers mix their clients’ money with their own capital and make it easily accessible that way.

Furthermore, the Exness Group is a part of the Financial Commission Compensation Fund. The compensation amount is up to 20,000 Euros per client. The Financial Commission Compensation Fund settles disputes between brokers and their clients. 

With Exness you can trade a huge amount of currency pairs. 98 in total. What’s more, the broker offers access to trading stocks as CFDs, cryptos as CFDs, indices, and commodities. All of the assets offered are CFDs. CFD stands for Contract For Difference and trading them has certain benefits and drawbacks. When trading CFDs, you can benefit from high liquidity and tighter spreads due to the fact that many more people are exchanging CFDs than actual assets. 

What’s more, you can benefit from prices moving in any direction by going long or short. CFDs can be traded with leverage (borrowed funds), while trading actual stocks and cryptos doesn't usually offer such an advantage. On the other hand, actual assets are more useful for long-term investing as there are no swap charges. 

Forex

With Exness, you can trade 8 major pairs, 26 minors, and 64 exotic ones. 98 in total. Major pairs are more stable as they’re backed by stronger economies. Stability attracts many investors and as a result, major pairs are characterized by high liquidity and low spreads. Novice traders generally avoid trading exotic pairs due to high spreads and low liquidity. 

Exness offers spread markup-free and commission-free account types. Spreads for standard accounts start from 0.3 pips. However, the average spread on EUR/USD is 1 pip. This is very attractive, considering the fact that there’s no commission charged on a Standard account. We’ll discuss account types and fees in more detail later. 

Leverage for trading Forex pairs is unlimited. Meaning traders can take as high positions as their account balance enables them to. Keep in mind that leverage is a double-edged sword and it can increase your balance quickly, as well as destroy your whole account. 

Stock CFDs

Exness offers some of the most famous companies' stocks as CFDs. The list includes Apple, Tesla, Google, Alibaba, Amazon, and more; up to 100 companies. While the number is impressive for a multi-asset broker, it’s still limited compared to the competition. As already mentioned, CFDs are great for speculating in the markets. However, for investing long term, it's more affordable to trade physical stocks.

Spreads are variable and depend on account type and asset. On Standard accounts, the average spreads for trading stocks start from 0.1 pips. 

The maximum leverage available for trading stocks is 20:1. However, before company financial announcements and daily breaks, the leverage decreases to 5:1. Volatility increases during these events and it makes sense for the company to limit the leverage to avoid traders' balance going negative. 

Cryptocurrencies

Cryptocurrencies have become very popular recently. Exness offers access to trading up to 35 crypto pairs. Trading fees vary from Standard account types to Pro accounts. In addition, each asset has a different commission and average spread. The average spread on Bitcoin vs USD is 187.8. The leverage offered is up to 400:1. Keep in mind that high leverage increases your risks as well as rewards.

As you may already know, FX trading is only available 24/5 and stock trading offers even shorter hours. On the other hand, you can trade the cryptos any time you want. The market is open 24/7. 

The assets offered are CFDs, which means you don’t have to worry about crypto wallets or were to cash out your profits. You can benefit from the price going upwards or downwards by going long or short respectively. What’s more, the broker doesn’t charge you with swaps for keeping the position open overnight. 

Indices

Exness offers 10 Indices for trading. Indices can be traded as CFDs, and they also have very important characteristics. Indices or indexes measure the collective movement of certain stocks. For instance, the FR40 index measures the collective performance of top French stocks that are publicly traded in stock exchanges. As a result, indices can be used as indicators for assessing the health of certain markets and industries. Many traders incorporate indexes in their technical analysis.

In today’s world, most trades are automated and thanks to algorithmic trading many stocks follow their indexes in terms of performance. Even if you are not planning to trade indices, it’s wise to keep them on your watchlist. 

Leverage level varies for each instrument. The maximum leverage is 400:1 for trading US30, US500, and USTEC. The rest of the indices can be traded with up to 200:1 leverage. 

Commodities

Commodities are raw materials. Companies mine or grow them. Raw materials that can be grown like wheat and corn are called soft commodities. Exness only offers access to trading hard commodities like energies and metals. 

You can trade up to 10 metal pairs such as gold vs USD, silver vs USD, silver vs Australian Dollar, and so on. Fees vary depending on the account type and the asset. An average spread on gold vs USD on a Standard account is 20 pips. 

The highest level of leverage that you can use on your account depends on your account’s equity. In case your account balance is between 0 and 999, the leverage offered is unlimited. 

In addition, the maximum available leverage decreases for XAU and XAG pairs to 200:1,15 minutes prior to important news announcements and lasts 5 minutes more, after the announcement has been made. What’s more, the same leverage requirements are in place 3 hours before a market closes and one hour before opens. 

Leverage for trading platinum and palladium is fixed at 100:1 in all trading conditions. 

In addition to metals, you can trade natural gas vs USD, Brent crude oil, and crude oil with Exness. Spreads are floating and the average spread on the Standard account for trading Brent crude oil is 13.4. 

Exness offers various trading accounts to satisfy the needs of different traders. How you trade varies dramatically based on your experience, trading style, preferred asset classes, and timeframe.

Exness provides 5 account types to choose from and we’ll discuss each in detail.

Pros & cons of Exness account types

Demo account of Exness

With Exness you can demo trade using all 5 account types. Demo accounts are very useful for both, professional and novice traders. 

Beginners use demo accounts to get familiar with trading platforms, learn to trade, get to know broker policies, and trade without risking actual money. Professionals use demo accounts to test and backtest trading strategies.

Most Forex and multi-asset brokers offer demo accounts free of charge to aid their clients in learning how to trade. Exness is no exception in this regard.

Standard account of Exness

The Standard account charges no commission for trading. On the other hand, traders pay spread markups starting from 0.3 pips for opening and closing trading positions. The average live trading price for EUR/USD is 1 pip. Which is very reasonable.

The Standard accounts are for new and position traders that trade less often and do not mind paying a little extra on spreads while saving on commissions. 

You can start trading Forex, metals, cryptocurrencies, energies, stocks, and indices using the MetaTrader 4 or MetaTrader 5 platforms. There are no requote prices on the Standard account. 

Standard Cent account of Exness

The Standard Cent account has many similarities with the Standard account. Both have a similar fee structure and unlimited leverage available. There’s no commission.

The differences start when comparing the trading instruments available and platforms. You can only use MetaTrader 4 with the Standard Cent account and the list of available assets is limited to Forex and metals. 

The Standard Cent account is a great way to transition from demo to live trading. The minimum amount required to open the account is only 10 USD and you can test out the live fees as well as broker policies without risking much. 

Raw Spread account of Exness

The Raw Spread account is aimed at professional traders. It’s ideal for day traders, scalpers, and algorithmic traders. 

The Raw Spread account offers the lowest spreads and fixed commissions per lot. Spreads start from 0 pips and the round turn commission is 7 USD per traded lot. 

The minimum amount needed to open this account is 200 USD. The leverage offered is unlimited for certain asset classes. 

Zero account of Exness

The Zero account has many similarities with the Raw Spread account. The main difference is that the account type offers zero spread markups and low commissions starting from $0.2 on each side, per lot, on the top 30 instruments.

The minimum initial deposit is 200 USD. MetaTrader 4 and 5 platforms are available and traders can trade the full range of assets offered by Exness. 

Pro account of Exness

Pro account offers spread markups starting from 0.1 pips and there’s no commission for trading. All other account types are offering market executions, whereas the Pro account offers instant execution, which means that the prices might be subject to requotes.

All asset types can be traded using the full set of MetaTrader platforms with the Pro account and the minimum amount needed to open the live account is 200 USD.

Islamic account of Exness

The Sharia law prohibits charging interest. As a result, brokerage firms offer swap-free account types to enable people of the Muslim faith to trade without going against their beliefs.

Exness provides access to swap-free account types to clients from countries where Islam is the predominant religion. Swap-free status can be assigned to Pro, Raw Spread, Zero, Standard, and Cent account types. 

In addition, it’s worth mentioning that cryptocurrency, indices, and stocks never have swap charges with Exness, and XAUUSD (Gold vs USD) has a swap rate of 0 regardless of swap-free account status. 

Getting started on Exness - Main steps

Opening a live trading account with Exness is very user-friendly and intuitive. At this point, you should already be clear about which currency you will be using as your account base currency, what account type you prefer, and how much you will be depositing. As a reminder, the minimum amount is 10 USD on Standard accounts and Pro accounts require a 200 USD minimum initial deposit to get started. 

Step 1: Choose & create your account

First things first, go ahead and open the main page of Exness. You’ll be able to see the Open Account button at the top right corner in yellow. By clicking the button, you’ll be transferred to the registration page. 

Fill in your personal information regarding your country of residence and contact information.

Next, you’ll be transferred to your personal area where you can create a new trending account and choose between Standard, Standard Cent, Zero, Raw Spread, and Pro accounts. 

Step 2: Download the trading platform and deposit funds

You can choose between MetaTrader 4 and MetaTrader 5 platforms for most account types. Unfortunately, there’s only MT4 available for Standard Cent accounts.

Exness offers various ways that you can deposit funds. Most options are free and instant. 

Step 3: Start analysis & trading

The final step is to open your trading platform and start placing market and limit orders. Trading live is always exciting. Just be aware that live trading is very different from trading on a demo account. Yes, the platform and environment are the same, but emotions are sky-high when trading live. Don’t let greed, fear, revenge trading, and lack of discipline stand in your way. These feelings are the biggest reason why most novice traders lose their money.

The fees and commissions charged by Exness are reasonable compared to the competition. The broker doesn’t charge its clients deposit and withdrawal fees. What’s more, there’s no inactivity fee. 

Fees vary depending on the account type you choose. Standard commision-free accounts charge spreads starting from 0.3 pips. The Zero spread account charges a $7 commission per lot (round-turn). There are also accounts that charge both types of fees in moderation. 

Comparing Exness fees with other brokers

As already mentioned, Exness fees are reasonable compared to other Forex brokers. In order to get a clearer picture, let’s compare Exness' Standard account spreads and fees with other brokers.

Exness fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Exness fees compared to eToro fees

Exness fees compared to IG fees

Exness offers two of the most famous trading Platforms MetaTrader 4 and MetaTrader 5. Both platforms were developed by the Russian software company MetaQuotes. 

MT4 is more suitable for trading currencies, while MT5 is viewed as a multi-asset trading platform. MT4 was released in 2005, followed by MT5 five years later. Not much has changed in terms of how they look and for many traders, these platforms might not be satisfactory in terms of design. The MetaTrader platforms are incredibly reliable and good in terms of performance, which is the reason why they remain relevant today. 

In addition to MT, Exness offers a web-based Exness Terminal and Exness mobile app. The terminal has more than 50 tools and 100 technical indicators. 

Mobile trading is essential for many traders as mobile apps can keep you close to the markets from anywhere in the world at any time. 

Mobile apps can help you monitor your trades. Open and close orders in emergency situations and more.

You can access MetaTrader 4 and 5 mobile versions for both Android and Apple devices. What’s more, you can download the Exness Trader app and deposit and withdraw funds to your account, place orders and check market news. 

High-quality education is super important for the development of novice traders. Exness provides extensive educational material for beginners. Video guides of more than 250 hours are available in HD quality and are accessible in 6 languages. 

The broker offers free courses for beginners and intermediate traders. In addition, you can find glossaries, webinars, market insights, and more on their webpage. 

Furthermore, you can access trading tools such as the economic calendar, trader’s calculator, currency converter, tick history, Trading Central WebTV, and more. 

Great customer service is fundamental for increasing the customer base. Exness offers 24/7 customer support. The support is available in 15 languages. Please note that the 24/7 service is only available in English, Chinese, and Thai. Customer support in other languages is only available active 24/5.

You can communicate with the team of Exness using live online chat, phone call, email, or ask and read answers to relative questions from their help center. 

To sum everything up, Exness is a well-regulated and therefore trustworthy broker. The trading fees are reasonable and there’s no inactivity or deposit/withdrawal fees. Most funding options are instant and the account opening process is intuitive. Their web page is user-friendly. 

The broker can be a great choice for you in case you are familiar with trading MetaTrader platforms and prefer multi asset trading. On the downside, the number of Stock CFDs are limited to 100. 

What’s great about Exness is that the broker offers various types of accounts and traders can find the one that best suits their trading style. 

In addition, Exness offers extensive educational material for beginners and 24/7 customer support available in 15 languages.