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EXNESS

EXNESS Review
Trader's rating 4
Editor's rating 4

Account types

 

Trading account Min. deposit Max. leverage Spread
Mini  $1  1:30  0.2-1.1 pips
Classic  $2 000 1:30  0.1-0.9 pips
ECN  $300 1:30  0.1-0.4 pips + $ 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.

 

Keep in mind that Exness does not provide it services to residents and citizens of the USA and Japan.


The Company. Security of Funds

 

Company

Country

Regulation

Exness (Cy) Limited 

Cyprus

CySEC

Exness (UK) Limited 

UK

FCA

 

The EXNESS group is a global ECN broker, consisting of companies regulated by reputable authorities such as UK's FCA and Cyprus' CySEC a. The broker offers trading in more than 120 forex currency pairs under fairly good conditions through the popular MetaTrader 4 and MetaTrader 5 platforms.

 

EXNESS is the trading name of the EXNESS group, set up in 2008 and consisting several 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. It also has set up a UK unit, which is licensed by the Financial Conduct Authority.

 

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 €730 000 in order to operate legitimately. The same minimum capital requirement applies to brokers licensed in UK.

 

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 UK: FCA-regulated brokers 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 trading with variable spreads, which are attractively low. Average 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.

 
You may look up real-time spreads of 15 leading brokers here.

 

Leverage
Leverage levels offered by EXNESS are in line with current ESMA guidelines, up to a maximum of 1:30.

 

 

Leverage may both multiply their profits and lead to heavy losses. Due to investor protection concerns, limitations on leverage rates are set in many jurisdictions: 1:50 in the USA, 1:25 in Japan, and 1:30 throughout the EU and the EEA.


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

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 with solid regulation, offering its clients a variety of tradeable instruments on two platforms under attractive trading conditions. To sum up the above, here are the advantages and drawbacks in relation to this broker:
 

Pros Cons
Solid regulation No proprietary platform
MT5 and MT4 both available Leverage capped at 1:30 (as required by law)
Attractive spreads  
No initial deposit required  
   

 

Headquarters: 46, Ayiou Athanasiou Avenue, Interlink Hermes Plaza, Office: 301 A, 3rd Floor, 4102, Limassol

Country: Cyprus

Regulated by: Cyprus Securities and Exchange Commission (Cyprus); Center for regulating OTC financial instruments and technologies (Russia). 

The EXNESS brand covers three companies:

 - EXNESS LIMITED (VC), registered in St. Vincent and the Grenadines

 - EXNESS LLC – a member of Russia's self-regulatory organization CRFIN

 - EXNESS (CY) LIMITED,  Cyprus-regulated, started operations in August 2013.  

The clients of the broker may count on 24/7 support in 23 languages.

 

BDSwiss

BDSwiss Review
Trader's rating 0
Editor's rating 3

Trading Accounts & Conditions

 

Account type Min. deposit Min. trade size Max. leverage

Average spread

Basic  $200 0.01 1:30  1.5 pips
Raw  N/A 0.1 1:30  0.4 pips + $8 /lot
Black  N/A 0.01 1:30  1.1 pips

 

BDSwiss offers trading in wide range of financial instruments – many forex pairs, as well as CFDs on indices, commodities, equities and cryptocurrencies. Its clients are offered access to the popular MetaTrader 4 platform and a choice of three account types – Basic, Raw Spread, and Black. Swap-free services are available for all of them

 

Overall, the trading conditions of BDSwiss seem good – the initial deposit for the Basic account is not high and the spread is on the upper end of average. However, we could not find information on the initial investment amounts for the other two accounts, which offer better spreads. For more information on trading costs in forex trading, check out the below link.

 



>> Compare some of the tightest spreads here <<

 

 

As regards leverage, the maximum level provided by the brokerage is 1:30, in line with the regulations applicable for this Cypriot brokerage. As you probably know, the maximum leverage available to retail investors was capped at 1:30 throughout the EU.

 

 

The Company. Security of Funds

 

Company

Country

Regulation

Bdswiss Holding PLC

Cyprus

CySEC

 

Formally known as Bank De Swiss,  BDSwiss was initially a Cypriot binary options broker, but changed the nature of its offering after this type of trading was banned across the EU in July 2018 (and ESMA keeps renewing the prohibition ever since). The broker is owned by Bdswiss Holding PLC, a Cyprus Investment company operates another forex brokerage brand, Swiss Markets. Firm (CIF), licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). Now that the UK is about to leave the EU, Cyprus is becoming the most popular destination for European forex broker.  Here are some of the rules which CIFs have to comply with.



First of all, CySEC requires Cyprus-based brokers to hold a minimum of €730 000 in order to prove their good financial standing. Moreover, all CySEC-regulated companies are members of the Investor Compensation Fund, which may cover tour investment loss to a maximum of 20,000 EUR per person in the event that the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.


In addition, as CySEC is part of the European MiFID regulations, and the companies regulated by the Cypriot financial watchdog are free to operate in all EU Member States. Therefore, they are also required to comply with all the rules and restrictions, introduced on a EU level: the leverage cap which we already discussed, provision of negative balance protection, and ban on trading incentives such as bonuses with trading volume requirements, among other things.

 

 

>> More brokers regulated in Cyprus <<

 

 

BDSwiss also has an offshore entity, BDS Markets Ltd. (Domain bdswiss.com), which is said to service clients outside the European Union Area.

 

 

Trading Platform

 

As we already mentioned, BDSwiss offers the renown MetaTrader 4, delivering a wealth of information in a simple layout, and also allowing clients to automate their trades by Expert Advisors (EA). This is one of the reasons why this platform is so popular among trader. What is more, it offers a great charting package with a number of technical indicators, and extensive back-testing environment. Here you may check out more brokers that support it.

 

 

>> Find the best MT4 brokers <<

 

 

Methods of Payment. Transfer fees

 

Clients of BDSwiss may use credit/debit cards, bank transfers, Sofortüberweisung, Skrill, Neteller, iDEAL, DotPAy, GiroPay, and PostePAy for deposits, and Credit/debit cards, bank transfers, Skrill, and Neteller for withdrawals.

 

With the exception of bank wire transfers, BDSwiss does not require a minimum withdrawal amount. That being said, please note that a 10 EUR fee will apply to any bank wire withdrawals under 100 EUR and any other withdrawals amounting to 20 EUR or less. Bank wire international payments are charged with a 10 EUR basic fee, and the minimum withdrawal amount is 50 EUR. The same fee applies to SEPA transfers, and the minimum withdrawal amount is 5 EUR.

 

 

Conclusion

 

BDSwiss is a Cypriot forex and CFD broker that has more than 7 years of experience in the financial markets. The broker supports the MT4 platform and is duly licensed by CySEC, which is its greatest advantage.

 

To sum up our review on BDSwiss:

Pros

Cons

CySEC license

Leverage capped at 1:30

MT4 available

No info on minimum investment amounts on Raw & Black accounts

Competitive spreads

 

Wide range of financial instruments

 

 

 

 

Headquarters: Makariou III Street 160 3026, Limassol

Country: Cyprus

Regulation: CySec

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