EXNESS EXNESS Review

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2.9 5 RATING
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7 REVIEWS

 Account types

Account type

Minimum deposit

Minimum trade size

Maximum leverage 

Average Variable Spreads 

Mini

$1

0.01

1:2000

1 pips EUR/USD  – instant execution

2 pips EUR/USD – market execution

Classic 

$2000 

 0.1

1:2000

0.9 pips EUR/USD– instant execution

2 pips EUR/USD – market execution

ECN

$300

 0.1

1:200

0.4 pips EUR/USD + $ 2.5 per standard lot


 This broker offers a choice of three basic account types: Mini, Classic and ECN accounts. The Mini account is targeted at inexperienced traders, as well as such who do not wish to trade in large volumes. The Classic account is targeted at regular and professional traders and offers full range of tools and trading facilities. As its name suggests, the ECN account is designed for clients who wish to trade in Electronic Communication Network environment, which involves a commission fee.

 

Another important thing worth mentioning is that the Mini and Classic account offer market and instant execution option. Most traders prefer instant execution, since it allows greater control on slippage and traders are offered requotes, instead of executing the order at the next best price.


The Company


EXNESS is the trading name of the EXNESS group, set up in 2008 and consisting of two companies: Cyprus-based EXNESS (CY) Ltd., (which operates the website www.exness.eu), and EXNESS LTD., (which operates the website www.exness.com) - an International business company in Saint Vincent and the Grenadines.

 

The EXNESS group is a global ECN broker, consisting of companies regulated by CySEC and the Belize IFSC. The broker offers trading in more than 120 forex currency pairs under fairly good conditions through the popular MetaTrader 4 and MetaTrader 5 platforms.


Security of Funds


All companies within the Exness group are duly regulated: EXNESS Ltd. holds a license for "Trading in financial and commodity-based derivative instruments and other securities" from the Belize International Financial Services Commission; Cyprus-based EXNESS (CY) Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker is also registered with a number of EU regulatory authorities.

 

CySEC applies certain rules and procedures to brokerage firms, one of them being the requirement for a minimum capital. Cypriot financial watchdog requires forex brokers to hold at least €1,000,000 in order to operate legitimately. Regulation of financial services providers usually involves such a requirement, for instance UK-based brokers are obliged to hold at least €730 000, brokerage firms in Australia must hold a minimum of $1,000,000, those based in the US - $20 million.

 

Furthermore, all CySEC-regulated companies are members of the Investor Compensation Fund, which serves to protect and secure the claims of covered clients and provide them with compensation of up to 20,000 EUR per person, where broker is at default. Similar compensation schemes apply in other jurisdictions - for example, FCA-regulated brokers in UK fall under the Financial Services Compensation Scheme, where the maximum compensation cover is £50,000 per person. Such compensation schemes serve as additional guarantee to clients’ funds.
     

Trading Conditions


Minimum initial deposit
Most brokers require a certain amount of money to be deposited in order the client to start trading. Exness, however, requires none (for the Mini account). Cyprus-based XM, for instance, requires a minimum initial deposit, amounting to $5, while FxPro, also CySEC-regulated, demands $ 500 from its clients.


Average Spreads & Commissions
EXNESS offers both fixed and variable spreads. Fixed ones are available on the Mini and Classic accounts, amounting to 1,7 pips and 2 pips on EUR/USD respectively. Average variable spreads on the commission-free accounts amount to 0.9 pips on EUR/USD, while ECN account holders are offered average spreads of 0.4 pips on EUR/USD, however a commission amounting to $ 2.5 per standard lot is charged.

 

For purposes of comparison, XM offers variable spreads from 1 pips on majors and charges no commission fees; FxPro offers average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot, and average spread of 1.4 pips on the EUR/USD for its commission-free MT4 accounts.
You may look up real-time spreads of 15 leading brokers here.

 

Leverage
Leverage levels offered by EXNESS are flexible (from 1:2 to 1:2000) and depend on the clients’ equity. The lesser the amount of money in a trader’s account, the greater the leverage level offered.

 

In fact, this broker provides its clients with one of the highest leverage rates on the forex market: 1:2000. Other Cyprus based brokers, for instance, use lower levels – XM – 1:888; Hot Forex - 1:1000, FxPro – 1:500. A list of forex brokers offering leverage equal to or higher than 1:500 can be viewed here.

 

Traders, however, should be mindful of higher leverage, for it may both multiply their profits and lead to heavy losses. That is why limitations on leverage rates are set in several jurisdictions: 1:50 in the USA, 1:25 in Japan, 1:100 in Poland.


Trading Platform


EXNESS offers its services on two of the most popular platforms among traders - MetaTrader 4 and MetaTrader 5. The industry standard MT4 is available as desktop version, mobile apps and there is also a web-based version offered, called MT4 Web terminal. More brokers using the MT4 can be viewed here.

The MT5 was developed and marketed as an improvement on MT4, yet many brokers still prefer the earlier technology, since MT5 does not allow hedging, and what is more, MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform.


More brokers offering the MT5 can be viewed here.

 

Promotions

What is more, EXNESS has partnered with forex rebate web site PayBackFX, and now offers its clients an option to receive cash back for each trade they make in the amount of 30% of the spread if they use Mini or Classic trading accounts, or $0.75 for each round-turn lot.

 

Methods of Payment


The broker accepts customer deposits and allows withdrawals via Wire Transfer, Neteller, Credit card and Internal transfer (available for withdrawals).


Skrill and PayPal are the only major e-payment systems missing.


Conclusion


EXNESS is a reliable broker, offering its clients tight spreads and high leverage levels under attractive trading conditions and transparent pricing. To sum up the above, here are the advantages and drawbacks in relation to this broker:
 

Pros Cons
CySEC regulated No proprietary platform
MetaTrader 4 available  
Comparatively low spreads  
No initial deposit required  
High leverage available  


 

Latest news about EXNESS See more...
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
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Mirror Trader,
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Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for EXNESS Add review

about icvetor broker

www.icvector.com is very good broker .this broker has a lot of payment options for withdrawal.administrative is so fast.
MT4 and the spread is very good. fast access in all orders and transactions.
Live support is great ,friendly and respectful.
these are why i love icvector as my broker.
icvector terminal trading isalways open in my desktop.
and give you $10 as no deposit bonus for the first time to start your trading.

hashimi 12/15/2014

4 stars for tight spreads but requotes

I do honestly think that there is a broker who provides all the great trading conditions. I have noticed exness have tight spreads and that's really true because I have compared them to other brokers. The only minus I have found trading in exness - on the news they often have requotes and it doesn't help it all. As a result just because I still gain good profit here - 4 stars.

Ron 10/06/2014

not bad choice for the profit makers)) trade here about 2 month, like their instant withdrawal. I think, that is the first time when I am sure that I can have my money any time I want. That's really new feeling when you trade on Forex))

Finn 09/05/2014

Vps

Yesterday exness connected me with VPS, I'm happy now. I was really shocked when knew that it's free. I had triyed to trade and I can say that it worth it. I found that exness gives many useful instruments and helpful thing for trading.

David_74 03/20/2014

Good broker

The support is very nice. I have not yet met such a good support, and they have an Arabian support too. It s very good, because I am newbie here and I have a lot of question. Thanks!

Ahmed 01/26/2014

they have very big bonuses

i like that the bonuses can be new and i can open lots of account with different bonuses

but they depesoted bonuses mostly depends on my trading volume so I need to trade more to withdraw something. that is unusual thing for me. but it work..

Kachawuth 12/27/2013

best withdrawal ever

In this broker I've got the best withdrawal I've ever seen. It's really instant to Webmoney and it took only a couple of minutes!!
As I think other conditions are not so clear for me. The spread is tight only for major pairs, but it's hard to trade exotic pairs. And I guess the spread for gold is a bit to much - about 30-40 points. Now I trade on Mini account and also take a part in their new year contest just for fun) hope to get any prize here)

Den 12/19/2013