de | cn | ru
  VS.    

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

*Leverage goes up to 1:200 for professional traders and to 1:unlimited for non-EU residents.


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.

 

BTCC

BTCC Review
Trader's rating 0
Editor's rating 4

Trading Accounts and Conditions

 

Account type

Minimum deposit

Leverage

Maker fee

Taker fee

DAX exchange N/A N/A 0.1% 0.2% *
USD exchange 0.0001 BTC / $50 N/A 0.1% 0.1% **

 

*Wthdrawal fee of 0.001 BTC / 0.01 ETC also applies.

**Deposit and withdrawal fees also apply.

 

BTCC is the oldest and biggest cryptocurrncy exchanges in China. Although BTCChina has exited the Chinese Market in October, 2017, its other exchanges, BTCC DAX, as well as the USD exchange, are functioning.

 

BTCC offers crypto-to-crypto and fiat-to-crypto trading on different exchanges, as listed in the table above. Besides, it also offers some additional services like Physical Bitcoins (Mint), Mobi Bitcoin Wallet, and others. The good thing is, you can access both exchanges and all services through a single BTCC account. More importantly, BTCC has one of the larges mining pools globallyAt the time of writing of this review, they had mined around 3.4% of the newly created Bitcoin (for the last 24 hours) 

 

BTCC Advantages

 

Good reputation, proven security

Founded back in 2011, BTCC is the longest-running bitcoin exchange worldwide. It was the dominant player for CNY/BTC trades before it closed its China operations. It is still considered as one of the best exchanges for trading in popular digital coins like BTC, ETH, ETC and BCC.

 

BTCC has a 100% track record in security since its inception, as it has not experienced any major hacks in its long history. More than 95% of its users’ digital assets are kept in cold storage with multi-signature controls to minimize the risk and exposure to hacking.

 

Large trading volume, deep liquidity

Currently, BTCC is rated 16th by 24-hour trading volume according to the data provided by CoinMarketCap and is typically among the top 20 players in this category. This basically means that its users don’t have to worry about insufficient liquidity.

 

Supports fiat (USD) currency, and Bank Wire and credit card transfers offered

On BTCC’s USD exchange you can exchange your dollars for Bitcon, or vice versa. Supporting fiat currencies is an advantage, especially for newcomers in the cryptocurrency world, who are yet to buy some digital coins with their real money in traditional currencies. For those, using their credit card or bank account is utterly convenient.

 

>>A list of crypto-exchanges accepting credit cards<<

 

Competitive trading fees

The fees charged by BTCC are relatively competitive, amounting to 0.1% / 0.2% per trade. Typically, exchanges charge 0.20% - 0.25%. However, some of them do not charge market makers, as the latter provide exchanges with liquidity.

 

Relatively low withdrawal fee

Like most exchanges, BTCC does not charge blockchain deposits. Other than this, certain fees apply to deposits in fiat currency, as well as to withdrawals, depending on the funding method and the currency. While many exchanges charge quite hefty deposit and withdrawal fees, BTCC's commission seem relatively low:


 

 

Platform with advanced trading user face

Most cryptocurrency exchanges do not offer advanced platforms like the most popular forex and CFD trading terminal for MetaTrader 4. Nonetheless, BTCC has chosen a different approach – not only that it offers crypto-to-crypto and crypto-to-fiat trading on different exchanges, but the latter has two different interfaces – basic and professional. The advanced trading user interface offers lots of bells and whistles: wide range of technical indicators, advanced charts, add-ons, etc. Besides, there is WebSocket and FIX API available for professional clients’ trading needs. Of course, BTCC Mobile App is also offered.

 

 

BTCC’ advanced trading UI. Click to zoom in.

 

Extra Services

In addition to having one of the largest and top-rated mining pools in the world and operating several crypto-exchanges, BTCC offers a service called BTCC Mint. These are titanium coins that can be purchased with BTC and are shipped to all countries except the US.

 

BTCC also offers its Mobi Digital Currency Wallet, allowing storage, conversion, and transfer of bitcoin and more than 100 currencies, including the United States dollar, the British pound, and the euro.

 

BTCC Disadvantages

 

Not regulated

Like most crypto-exchanges, BTCC is not licensed, nor overseen by any governmental authority. So, this is no big issue.

 

If you prefer to trade in digital coins via a regulated company, we remind you that you can do that with forex brokers. Make sure you are aware of the differences between trading on an exchange and with forex brokerage beforehand.

 

>> Check out our list of regulated bitcoin forex brokers <<

 

Limited instrument portfolio

BTCC doesn’t offer a wide range of pairs for trade, choosing instead to focus on a smaller number of high-volume ones. Currently the available ones on both exchanges are: BTC/USD (constituting 70% of its overall volume), BCC/BTC, ETH/BTC, and ETC/BTC.

 

If you would rather trade in more exotic cryptocurrencies, check out Bittrexthis major US exchange offers over 190 digital assets for trade.

 

No margin trading

As a matter of fact, BTCC used to offer margin trading but discontinued this service in the beginning of 2017 after “discussions” with the People’s Bank of China (PBOC). Most cryptocurrency exchanges do not offer leverage, but there are some who do, like Kraken, Quoinex and others. Besides, all forex brokers ffer leveraged trading on cryptocurrency CFDs.

 

>> Brokers offering leveraged Bitcoin trading <<

 

No anonymous trading

Since BTCC Exchange requires its users to verify their identity in order to trade in order to ensure the safety and security of the funds and activities on its platforms. Identity verification is also required in compliance with certain government AML KYC regulations. Verification process can be slow and complicated. Besides, it defies the initial idea of of Bitcoin to allow anonymous trades.

 

Conclusion

 

BTCC is the oldest Bitcoin exchange worldwide. It is highly regarded for its reliability, security, deep liquidity and the extra services it provides for its users.

 

Initially set up in Shanghai in 2011, BTCC was one of the Chinese “Big Three” along with Huobi and OkCoin. Following China’s ICO ban in the country, BTCC shut down its local division (BTCChina). BTCC DAX and BTCC USD exchanges, however, are functioning, and the company operates via its units in the UK and Hong Kong BTCC (UK Limited or XO Market Limited).

 

None of these companies is formally regulated, but this does not effect the overall reliability of BTCC. Unlike the situation with forex brokers, the legal crypto-exchanges is still unclear in most countries. The important thing is, BTCC complies with governmental instructions – its halted margin trading, and was the first among the “Big Three” to shut down its Chinese operations. More importantly, it keeps clients’ assets in cold storage and has not been hacked during its long years of operation.

 

Besides, BTCC has a lot of advantages, apart from its reliability: competitive fees, various transfer methods supported, advanced trading platform with mobile app, and some great extra services, such as top-tear mining pool.

 

Pros Cons
Many years of experience, no hacks Not regulated
Competitive trading and transfer fees A few altcoins available
Accepts bank transfers, credit cards No anonymous trading, no margin trading
USD fiat supported  
Platform with advanced features available, mobile app  
Top-tier mining pool  

 

Forex
de | cn | ru