Brokers News

Russian Broker EXNESS Does Suspiciously Well

Oct 08 2012
By Stanimir Zhelev , ForexBrokerz.com Find me on Google+

Just as we are entering the last quarter of the year, I am expecting at least a few brokers to publish data on their performance during Q3. After all, transparency of operations is a key factor for establishing a company’s reputation, and with the fierce competition on the forex market, good reputation is golden.

Unfortunately, however, only a few of them do so and Russian-based EXNESS is one of the brokers who appear to be quite open about its operational metrics. On the broker’s official site there is a page dedicated to statistics, broken into years and months.

A quick glimpse on the data from 2012, though, gets a red light to start blinking in my head. Take a look yourself:

Judging by the numbers, EXNESS seems to be doing quite well. Too well, as of that matter - almost too good to be true. Approximately 8,000 new accounts opened in each of the months of Q3 is quite the impressive achievement – especially having in mind that the broker is not amongst the largest ones on the market. There is, of course, the possibility that these numbers are just made up.

As there is no other way to verify the details published by EXNESS, I figured I would compare them to a couple of other brokers.

The first one I picked was Forex.com: one of the largest brokers around the world, and one with outstanding reputation and a sustainable client base. During Q2 the broker had 6,862 new accounts created – so approximately 2,300 accounts per month (download .pdf here ). If you do the math, you will see that for the same period EXNESS had an average of 7,560 newly registered accounts per month.

Forex.com’s retail trading volume for Q2 was $340.8 billion. The trading volume of FXCM, another one of the major brokers, was $869 billion. The one of EXNESS - $204.2 billion.

What’s important to note here is that both Gain Capital, the company behind the Forex.com brand, and FXCM are publicly listed company – this means that they are mandated to publish accurate data, and they are being audited by independent companies on a regular basis. EXNESS, on the other hand, is based in Russia, where there is no forex legislation whatsoever.

I’m not going to draw any conclusions here – you do the math yourself and figure out whether the data so willingly given by EXNESS seems plausible or not. It shouldn't be too hard to figure out.

TAGS: exness forex.com fxcm trading volume russian forex broker forex broker

More news about Exness

Exness registers slight decrease in July trading volumes both MoM and YoY Aug 03 2017 12:43:11
Exness inks official partnership with Cristiano Ronaldo Aug 02 2017 12:25:28
Exness becomes official trading partner of Real Madrid Jul 31 2017 11:23:42
Exness UK acquires full forex broker license by FCA Jun 23 2017 08:30:58
Exness and Leverates VinciCM set default leverage to 1:50 in line with CySECs requirements Jan 30 2017 08:49:15

Broker	Advantages


	FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
	easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.

	XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
	FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
	FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
	FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
	FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
	HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.
	Exness is a leading forex broker, offering MT4 and MT5 platforms. Traders can take advantage from a true ECN environment and trade on ultra tight spreads, starting from 0 pips.

Broker	Country	Regulation	Platform	Min Deposit	Review
	US	CFTC, NFA	MT4, Web, in-house	$50	Review Website
	US	NFA, CFTC	MT4	$250	Review Website
	Cyprus, UK, Mauritius	CySec, FCA, IFSC	MT4, MT5, Web	$10	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, Web, Mobile app	$100	Review Website
	Australia, Cyprus	ASIC	MT4, MT5, IRESSTrader	$100	Review Website
	UK, Cyprus, Australia	FCA, CySec, ASIC	MT4, MT5	$5	Review Website
	UK, Australia, South Africa	FCA, ASIC, FSCA	MT4, Trading Station, NinjaTrader	$50	Review Website
	UK, Cyprus, UAE, South Africa	FCA, CySEC, DFSA, FSB	MT4, MT5, FxPro Markets, cTrader	$100	Review Website
	Cyprus	CySEC	MT4, MT5, Web	$1	Review Website
	Belize	IFSC	MT4, MT5	$100	Review Website
	Cyprus, UK, South Africa, UAE	CySec, FCA, FSCA, DFSA	MT4, MT5, Web	$5	Review Website
	Cyprus, UK	CySEC, FCA	MT4, MT5	$1	Review Website
	Australia	ASIC	MT4, MT5	$100	Review Website
	UK	FCA	MT4, Web, MT4 for Mac	$100	Review Website
	Australia, UK	ASIC, FCA	MT4, MT5, cTrader	$200	Review Website

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