Exness Broker Review - Average multi asset broker

exness.com
Writer
Written by:
Calendar
Written on:
15 August 2022
Date
Last edit:
4 February 2023
Our rating:
4.2

4.2

User rating:
6.97

6.97

Exness Broker Review - Average multi asset broker

exness.com
Writer
Written by:
Calendar
Written on:
15 August 2022
Date
Last edit:
4 February 2023
Our rating
4.2

4.2

User rating
6.97

6.97

General Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money.
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Main summary

The Exness Group (Exness for short) was founded in 2008. Headquartered in Limassol, Cyprus; Exness provides access to trading Forex pairs, stocks as CFDs, indices, commodities, and cryptocurrencies as CFDs. On the downside, the Exness Group does not accept clients from several jurisdictions, including the USA.

Exness is authorized and regulated by various financial institutions. The list includes: 

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.

The long list of well-established regulatory bodies makes the broker more trustworthy in the eyes of its clients. 

Exness offers various account types to meet the needs of various types of traders. In addition, traders can choose from a wide range of base currencies when opening trading accounts to save on conversion costs. Exness offers unlimited leverage for trading certain types of products. 

The fees vary depending on the account type you choose and the asset class you trade. We’ll discuss the fees, regulations, instruments, platforms, and in more detail in today’s review. 

Here Are the 10 Pros and Cons:

  • Regulated in 7 jurisdictions
  • Offers access to MetaTrader 4, MetaTrader 5, and Exness Terminal
  • Charges no deposit and withdrawal fees
  • Offers 5 account types
  • A huge number of account base currencies to choose from
  • Fast and digital account opening/verification
  • A low minimum deposit is required to open an account. Namely 10 USD.
  • No inactivity fee
  • Offers instant withdrawals
  • The number of stock CFDs is limited to 100

Exness Fact sheet

Main features
Regulations British Virgin Islands, Curaçao, Cyprus, Mauritius, Seychelles, UK
Fees on deposits $0
Fees on withdrawal $0
Inactivity fees No
Minimum deposit $10 $200 for Pro account types. $50 when depositing using Perfect Money. $10,000 when using Bank Wire Transfer
Minimum account activation $10
Number of available assets 256
Leverage up to 1:500 Up to unlimited leverage for deposits under 999 USD
Available trading markets Forex, CFDs, Indices, Commodities, Cryptocurrencies
Account currencies 44; Including EUR, GBP, USD, CAD etc. USC EUC GBC CHC AUC CAC for Standard Cent account
Demo account Yes
Live account types Standard, Standard Cent, Raw Spread, Zero, Pro
Islamic account Yes
Security
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Assets
Forex 98
Shares 0
Cryptocurrencies 35
Indices 10
Commodities 13
Total 256
Fees & spread
Forex From 0.3 pips 1 avg, spread on EUR/USD Standard account
Shares Variable, depending on the stock. The commissions change according to underlying exchange rates.
Cryptocurrencies Variable, depending on the stock. The commissions change according to underlying exchange rates.
Indices From 3
Commodities From 2
Software
Platforms MetaTrader 4, MetaTrader 5, Exness Terminal
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods -
Minimum deposit Credit/Debit Card, Bank Wire transfer, Skrill, Netteler, Perfect Money, Bitcoin, USD Coin, Tether Payments are processed even on Weekends
Minimum withdrawal Credit/Debit Card, Skrill, Netteler, Webmoney, Perfect Money, Bitcoin, USD Coin, Tether Bank Wire transfer option is not available
Withdrawal processing time Instant Crypto and Bank wire deposits and withdrawals take up to 72 hours
Time to open an account -
Show all

The Safety & Security of Exness

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. 

Available Assets on Exness - What Can You Trade?

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. 

Equity, USDMaximum leverage
0 – 9991:Unlimited
0 – 4,9991:2000
5,000 – 29,9991:1000
30,000 or more1:500

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. 

Which Account Types Are Offered by Exness?

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

ProsCons
Cent account available None
Only $10 is required to open any type of account. 
Access to swap-free, Islamic accounts. 
Unlimited leverage for accounts with 0-999 USD on their balance 
A large number of account currencies 

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. 

Exness registration.JPG

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. 

Exness deposit.JPG

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.

Fees & Commissions

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

Type of FeeExnessInteractive Brokers
EUR/USD SpreadFrom 0.3 pipsFrom 0.6
Fees on DepositsNo1%
Inactivity feeNoNo*

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

Exness fees compared to eToro fees

Type of FeeExnesseToro
EUR/USD SpreadFrom 0.3 pipsFrom 1
Fees on DepositsNo$5 on withdrawals
Inactivity feeNoYes, $10/m

Exness fees compared to IG fees

Type of FeeExnessIG
EUR/USD SpreadFrom 0.3 pipsFrom 0.8
Fees on DepositsNoNo
Inactivity feeNoYes, $10/m

Trading Platforms of Exness Reviewed

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 Experience

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. 

Exness mobile.JPG

Education & Research Tools

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. 

Customer Support of Exness

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. 

Conclusion

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. 

6.97

6.97

Average based on 9 user reviews
Safety 7.33
Assets 7.11
Accounts 6.44
Fees 7.11
Desktop platforms 7.11
Mobile platforms 6.67
Education 6.89
Support 6.00
Have experience with Exness? Login to leave a review
bailey.johnson reviewed 9 days ago
no experience
6

6

Good: Ok broker but not great
Pros
This broker is not significant. I was considering opening an account with them but changed my mind after checking other ones.
Cons
Doesn't offer anything to interest me.
conrad.cash reviewed 9 days ago
Demo Less than a month experience
8

8

Great: More than a decent choice for FX
Pros
I like that spreads are not very high at Exness. The desktop version works very well. I like the design too.
Cons
Customer support could use some work. The chatbot is kind of annoying.
aubrey.hart reviewed 9 days ago
Demo Less than a month experience
6.88

6.88

Good: Poor Support Staff - Other than that its a pretty decent broker
Pros
Im still testing this broker using Demo trading, but up until now everything is working nicely, but there are other brokers that are better than Exness
Cons
The biggest problem I have run up until now is their support. And since Im using Demo account and still managed to receive poor customer support, I wonder what will happen once I start live trading
stan.pascall reviewed 9 days ago
Demo 1-3 months experience
7

7

Good: Excess leverage, scarce assets
Pros
Spreads are cheap and good for short term strategies, not for scalping but if you have a strat with 20+ pips tp you should be fine with them
Cons
Too much leverage for small accounts guarantees 99% of traders blow up their accs under 3 months
turner.clay reviewed 10 days ago
Live Less than a month experience, under $1,000 account size
6.75

6.75

Good: I think this broker is ok
Pros
I'm just testing this broker to see if it's good. So far, trading experience has been good. I can't complain much… But honestly, there's nothing special.
Cons
When I was trying to contact the broker, there was an annoying chatbot. I just wish they get rid of it.
jenson.harris reviewed 10 days ago
Demo Less than a month experience
6.75

6.75

Good: Decent choice for FX, customer support needs some work
Pros
The trading platform is good and reliable. No problems with order execution or anything of the sort. However, the interface could be better. Judging by the demo account, Exness could be a decent choice for FX? But not entirely sure yet.
Cons
The customer support needs some work. I tried to reach them a few times but the waiting time was crazy. Also, not that big of a variety in CFDs, which was surprising.
guinevere.curry reviewed 10 days ago
Demo 1-3 months experience
7.5

7.5

Good: You can implement scalping strategies with Exness as spreads are 0 on zero account
Pros
Zero account was fun for scalping 1m time frame EURUSD. Leverage is good, I would prefer a bit better. I was able to blow up 10 000 account under a month ^^ But it was my fault for running some dude's 90% win rate EA for 1 day unchecked
Cons
Didn't remember any shortfalls, I'll update this if I find something suspicious xD
zeph.simon reviewed 10 days ago
Live no experience, 3-6 months experience, 6+ months experience, $1,000 - $5,000 account size
6.5

6.5

Good: You will not be disappointed but won't be amazed as well.
Pros
For me, the best part about Exness is the selection of trading assets.
Cons
I hate their customer support. They always replay late and in most case scenarios they don't help you at all and reply with some pre-written texts.
joe.schultz reviewed 10 days ago
Live $1,000 - $5,000 account size
7.38

7.38

Good: Slow withdrawals
Pros
The broker is quite okay
Cons
I am mostly familiar with Exness through its partner program. I've been referring traders to Exness and making commissions on their trades. Overall, the partner program is quite okay, yet the payouts are rather low. Also, it took numerous attempts to finally have my withdrawal processed, all in all it took nearly a week.

FAQs on Exness

Is Exness regulated?

Yes. Exness is regulated in 7 jurisdictions by different regulatory agencies, including Seychelles FSA, Curaçao, and Sint Maarten CBCS, FSC in BVI, FSC in Mauritius, FSCA in South Africa, CySEC, FCA in the UK

What can I trade with Exness?

Exness offers up to 98 currency pairs, 100 stocks as CFDs, 10 indices, 13 commodities, and 35 crypto pairs. Keep in mind that MetaTrader 4 doesn’t provide access to trading a full range of assets and you will need MetaTrader 5 or Exness' web terminal for multi-asset trading.

Are trading fees low with Exness?

Exness offers average trading fees. Spreads and commissions vary across account types. Spreads on EUR/USD Standard accounts start from 0.3 pips and average spreads are 1 pip for the same pair.