Exness.com Review Is Exness A Scam Forex Broker

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Exness Forex Broker Review

Last Updated: February, 2020.

Launched in 2008, the Exness Group is a true veteran of the online FX/CFD industry. Its reach extends to most of the world. It currently maintains offices in three different locations, where the brand is represented by three different corporate entities.

This way, the brokerage has secured the regulatory backing of three jurisdictions, two of which are indeed serving some major markets.

That considered, its reputation is hardly optimal. There are many problems with the operation from the perspective of traders. Most complaints focus on the withdrawal system/procedures, which are allegedly quite focused on denying withdrawal requests.

Stop-loss hunting and slippage is part of the Exness situation as well. While Exness support seems helpful and knowledgeable, many traders have complained about its inefficiency.

As mentioned, the corporate background of the operation is extensive and intricate.

The “global” side of the brokerage is handled by a certain Exness Limited, based in St Vincent and the Grenadines. This company is a locally registered International Business Company. It is licensed and regulated by the local authorities.

The EU-focused branch of the broker is supported by Exness CY Limited, based and registered in Cyprus. The registration number of the company is HE 293057. CySEC regulates this outfit. The CySEC license number of the operator is 178/12.

Exness UK Ltd. is the FCA-regulated side of the brokerage. The registration number of this company is 088611481. The FCA registration number is 730729.

In addition to the above, Exness is also registered with Italy’s CONSOB and Spain’s CNMV.

It is clear from the above that the regulatory status of the broker is quite outstanding. CySEC and FCA regulation means that it is fully MiFID-compliant, which also means that it should in fact be a trustworthy trading destination. It should also offer some attractive guarantees for traders.

What is the unique selling point of the brokerage? Why should you sign up and make a real money deposit with it?

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According to Exness.co.uk (and Exness.eu for that matter too), the broker is a sponsor of Real Madrid. According to the same page, it also sponsors Cristiano Ronaldo, arguably the best football player in the world.

Ronaldo has been playing for Italian side Juventus for a while now though. Either the information is out of date, or Exness has some sort of special sponsorship deal going with the football star.

The broker prides itself on its allegedly superb order execution, its tight spreads, commission-free deposits and withdrawals. Long story short: its trading conditions are theoretically very attractive.

Exness also promises direct access to interbank liquidity – which is also a major asset.

Environmentally conscious traders will be pleased to learn that the broker supports couple of WWF projects aimed at the protection of polar bears and Persian leopards.

What traders and would-be traders must know about Exness is that it is mostly a DD (Dealing Desk) broker, meaning that it acts as a market maker.

While it offers ECN access too, such accounts can only be had at Exness Ltd.

The Various Exness Account Types

The account type picture is a little hazy at Exness. The available selection depends on the broker branch one registers with, as well as the trading platform.

Exness Limited clients have the most options. MT5 accounts are only available on that branch.

There is a Mini Account offered, with a minimum deposit requirement of just $1. The maximum leverage on this account type is apparently 1:2,000. Spreads start from 0.3 pips.

The MT5 Classic Account features better spreads (from 0.1 pips) and a minimum deposit of $2,000.

As far as the MT4 platform is concerned, there’s a greater diversity of available account types.

The Cent Account and the ECN Account are only available for Exness Ltd. traders.

Like the above detailed Mini Account, the Cent one features a minimum deposit of just $1, allegedly unlimited leverage and spreads from 0.3 pips.

The ECN Account requires a minimum deposit of $300. The maximum leverage is 1:200 and spreads start from 0 pips. There is a $25 commission charged on every $1 mln traded.

The ECN account offers ECN execution and it does not have the broker acting as a market maker.

The Mini Account is available to Exness Ltd. and Exness CY Ltd. clients.

It too requires a minimum deposit of $1, with spreads beginning from 0.3 pips.

The Classic Account is available on all broker branches. It is therefore the “flagship” offer of the brokerage in this regard.

On MT4, it requires a minimum deposit of $500 and it apparently offers unlimited leverage. Spreads on this account type start from 0.1 pips. No trading volume-linked commissions are charged.

Exness Trading Platform Software

As made clear above, Exness supports MT4, MT5 and a selection of Mobile platforms.

MT4 is the flagship platform of the operation. It can be downloaded for free off the Exness website, and it can be installed in a couple of minutes. The platform is available for Windows, Mac, Linux as well as Android-based devices.

MetaQuotes’ most popular trading platform comes with scores of preinstalled technical indicators, drawing tools and supported time frames. It offers a Web Terminal option too, together with EA support. The broker features a VPS hosting option, so EAs can indeed be put to good use.

MT5 is advertised as the improved version of MT4, although that is generally not true for this platform. It is indeed designed to serve different purposes than its predecessor, and as such, it is hardly its direct competitor.

Exness’ version of the platform supports an impressive number of pending order types, such as: Sell Stop, Buy Stop, Sell Limit, Buy Limit, Sell Stop Limit and Buy Stop Limit.

Hedging is supported on MT5. The platform features some 21 time frames and there is a built-in FX calendar.

Market Coverage Provided by Exness

The brokerage is focused on Forex. To this end, it offers some 38 currency pairs, with some rather decent trading conditions. On the EUR/USD pair for instance, spreads start from just 0.5 pips on the co.uk MT4 Classic Account.

The margin requirement on the same pair is 3.3%.

The spread on some more exotic pairs can be quite daunting though. On the USD/MXN for instance, it is a handsome 70 pips.

Exness Deposits and Withdrawals

The broker only supports 4 Deposit/Withdrawal methods. That said, these methods cover most of the needs traders could have in this regard.

We are talking about Wire Transfer, Bank Card (VISA and MasterCard), Neteller and Skrill.

Of these methods, all but the Wire Transfer, are considered to be “instant”. Wire transfers take 3-5 business days to process.

The minimum deposit for wire transfers is $10. The same goes for Neteller and Skrill. Via card, the minimum is $3.

For withdrawals, the minimum is $40 for wire transfers. None of the supported methods charge any sort of fees.

Withdrawals are said to be instant on Neteller and Skrill.

Exness Review Conclusion

Exness looks like a solid trading destination. It is well regulated and the platforms/account options it offers are fairly decent as well.

That said, its reputation-related issues simply cannot be overlooked. There are way too many complaints out there to ignore, and they concern some of the most important operational aspects.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Exness Review

Risk Warning: Your capital may be at risk

Exness Review

What is Exness?

The EXNESS Group opened its ways to the general population in 2008 in St. Petersburg, Russia and subscribed to offering its customers high quality trading services in a few financial markets. It has made some amazing progress since at that point and is today a leading Forex and ECN broker. EXNESS prides itself on genuineness, openness and straightforwardness and is controlled by CySec in Cyprus and also by the Financial Service Provider Register in New Zealand.

EXNESS LT (NZ) has been perceived by honors from the popular financial production World Finance Media for “Best Trade Executions”, “Best Order Management” and “Best Mini Broker.” By the center of 2020 EXNESS customers’ month to month trading volume was more than $180 billion.

Features

The first thing that hits you when you open the EXNESS site is its cool pictures which are extensive and brilliant and exciting to take a gander at. Since EXNESS is an accomplice of the Infiniti Red Bull Racing Championship, the snapshot of its gaudy Infiniti racing auto is certainly not strange.

What’s more, since the site is available in 23 different languages including English, Chinese, Russian, Vietnamese, Farsi, Hindi, Urdu, Tamil, Thai, Bengali, Indonesian, and Malay, individuals from everywhere throughout the world can take an interest in the good times.

Exness Features

The EXNESS Group offers customers access to the interbank market through an ECN, or, in other words a product “aggregator” that coordinates the execution of customer arranges at the best prices from among a few surely understood liquidity suppliers associated with the “aggregator”.

The transaction is executed by the liquidity supplier that offers the best price for the specified volume at a given minute. Information about the liquidity supplier to which a transaction was submitted is put away in our company’s database. The customer can be furnished with this information upon demand.

The broker does not as of now offer Swap Free ECN accounts because liquidity suppliers perform swaps for the benefit of the company.

The EXNESS Group gives traders an opportunity to trade in CFDs on prospects, the underlying resource of which is oil.

The EXNESS Group is involved in different social causes. It right now supports WWF Russia’s projects to reestablish uncommon species: the Persian panther in the Caucasus and the Siberian tiger in the Far East.

Accounts

EXNESS offers tight floating spreads on three different trading accounts: the Mini, the Classic and their ECN accounts. No minimum deposit is required for the Mini account but just 100 positions can be open at one time. Likewise the spread is 0.3. The spread in the other two accounts is 0.1 and there is no restriction in the measure of positions a trader can hold. The Classic account requires a $2000 opening deposit and the ECN $300. Trade execution is quick for all accounts. ECN accounts have guide access to Interbank liquidity.

Exness Account Types

Customers approach 1:2000 leverage which considerably lowers margin necessities and allows trading methodologies to be overseen adaptably.

A demo account can be opened for those wishing to hone their trades previously putting their cash in danger. Funds can be renewed in the demo account freely by filling out an online demand frame.

Bonuses/Promotions

The huge advancement offered while doing this review and which is available until July 27th, 2020 was the Infiniti Red Bull Racing rivalry. The Grand Prize for the winner of the best submitted photograph was a visit with the Infiniti Red Bull Racing Team in Abu Dhabi.

The following couple of prizes were reproductions of the race cap of Daniel Ricciardo or Daniil Kvyat marked by the drivers.

No extra bonuses or advancements were being offered at the season of this review.

Instruction

EXNESS presents up-on date financial news and declarations of occasions occurring far and wide specifically to their site for all to peruse.

By clicking on any of the links in their ‘library’, anybody can get to the various printed aides and explanations of general financial terms and in addition subjects specific to EXNESS.

EXNESS customers additionally approach the most important financial news affecting the Forex market from Dow Jones News, the leading supplier of information in the realm of business and finance. The Dow Jones news inclusion offers real-time broadcasting without postponements. The news is available to customers, who have opened trading accounts with EXNESS.

A trader’s mini-computer/money converter is available as are refreshed scientific reviews on cash sets.

Exness Technical Analysis

An extra useful feature is a listing of statements history that contains information on the exchange rates of Forex money sets and other financial instruments over different eras. This is a live application which can be downloaded into a MetaTrader terminal and used to test techniques and perform specialized analysis.

Deposits/Withdrawals

Funds can be deposited using a wide assortment of deposit and exchange conceivable outcomes including wire exchanges, credit cards Neteller, Skrill and others. One of EXNESS’s main points of interest is the programmed withdrawal of funds using various electronic payment frameworks, providing traders with nonstop control of their trading accounts’ funds.

Withdrawals are done instantly upon demand and funds are returned using a similar strategy utilized for the deposit.

A useful graph, not offered by numerous different brokers, records every strategy for deposit and its focal points and weaknesses for the trader.

Exness Reliability – Is Exness a Scam?

Despite the fact that the internet, during the most recent decade and a half, has helped numerous organizations extended their market achieve, it has additionally made new difficulties for organizations who depended on their internet to produce business income. The issue is particularly apparent among online Forex brokers that are situated in faraway nations. This is because numerous individuals feel that it is perilous to have any dealings with organizations that are not physically situated in nations like the United States (U.S) because of remiss controls.

Consequently for organizations like Exness.com which was built up in St Petersburg, Russia, they can be effectively accused by any individual who is biased against non-American based organizations similar to a here now gone again later firm.

Controls in Faraway Locations

The issue of low trust level on the internet is anything but another wonder. As far back as the internet has been touted as the new business boondocks, it had helped fuel enormous development in this division. The development of the website rise during the beginning of the new thousand years was the aftereffect of investments from those hoping to ride on the ascent of internet based businesses. Subsequently when the air pocket burst, this had the consequence of fuelling doubt with organizations which depended on the internet to produce income.

The financial emergency that happened in 2008 likewise didn’t help much in boosting open trust in organizations that arrangement in financial services. Truth be told the discernment that people in general gets is that organizations that are in the financial divisions have a tendency to be involved in fake exercises. This discernment is additionally reinforced by confusion that because of the seeming absence of directions in faraway nations, they organizations are out to trick individuals paying little respect to how settled they are.

The issue with this line of thinking is that the individuals who are not well informed have a tendency to overlook the way that regardless of the stringent directions that existed in an all around created financial market like the U.S, the nation that holds the reputation for swindling the most measure of cash from investors are as yet the U.S. Thus, it doesn’t follow to naturally accept that a Russian based broker have less integrity than a U.S based firm. Truth be told, in terms of the trustee standard that Exness.com has, the company is directed by CySEC and accordingly adjust to the guardian standard required for the European markets.

Operational Reliability of Exness.com

Exness.com was set up in 2008 and since at that point, the company have developed by jumps and bound. Its current trading volume for 2020 is in abundance of $450 billion bigger than the GDP of a few nations on the planet. If the company comes up short on any believability and integrity, it could never have the opportunity to develop. Negative criticisms would have demolished the company’s notoriety and in this way sealing its destruction. Because Exness.com perceives the difficulties it looked by being situated in Russia, the company had went out on appendage to guarantee that it is fit for providing a sheltered trading condition for their customers. To put it plainly, Exness.com thought enough about their customers to really care for their interests and not depend entirely on a brand to set up their market share.

Trading Platform

Concerning trading platforms, Exness gives its customers the dependable MetaTrader based trading platforms. Traders can pick with between MetaTrader 4 or MetaTrader 5. Proficient traders with numerous accounts to oversee can settle on the MetaTrader 4 Multiterminal platform.

For the individuals who are constantly in a hurry they likewise have the alternative to use their mobiles gadgets to trade with the MetaTrader platforms for iPhone, iPad, Blackberry, Android gadgets and Windows Mobile Enabled Devices.

Kinds of Accounts

Despite the fact that Exness doesn’t have the same number of sorts of trading platforms as some online Forex brokers, the company do observe the kinds of customers that they have. This is confirm by the four different sorts of trading accounts they accommodate traders. The kinds of trading accounts are classified as:

“Penny” Trading Account (No minimum deposit)

For those completely new to the Forex market and just wishes to get a vibe of the trading condition.

“Mini” Trading Account

(No minimum deposit)

For Forex beginners also but with enhanced trading conditions

“Exemplary” Trading Account (Minimum deposit $2000)

For Professional Traders with full scope of apparatuses and trading offices

“ECN” Trading Account (Minimum deposit $300)

For Professional traders who need a trading condition where there is no irreconcilable situation between them and their broker.

Commission and Spreads

Like most online Forex brokers, Exness does not charge any commissions on trades done through them. Instead they earn by adding on a spread on the statement that they provide for their customers. Their spreads is most likely one of the lowest around in the industry which maybe accounted for their prevalence among such a significant number of traders. However for ECN trading accounts, there is a minimum expense of only $25 for every one million dollar trade.

Customer Support

With respect to customer support, Exness is first class. Their site support 17 noteworthy languages like:

Exness.com Review: Is Exness A Scam Forex Broker?

Update 2020:
Read our traders comments below. We receive complaints about Instaforex on a daily basis. What we also receive is fake positive comments from Instaforex employees trying to improve their reputation. We are reviewing each comment but reviewing our rating system is not possible. So please be certain that it is biased (to the positive). And dear Instaforex employees: we understand that traders complaints aren’t good for your reputation but trying to fake customer reviews makes it even worse. Your fakes are so obvious that it is fairly easy for us to filter them.

After we added this message they changed their strategy a bit and at least try to disguise they are employees writing positively about their company. The comments are still just embarassing and so obvious fakes that it hurts. They sound like “Instaforex is the best Forex company out there. I made huge profits with them. Support was always helpful and their bonus is so amazing. I can’t thank you enough Instaforex!”.

Please stop that immediately. With these fake comments you make it even less likely that a real positive comment from a real customer will get approved by us.

Another update:
We will deactivate the commenting section for Instaforex for a while. Reason is that their team is not stopping their spam and it’s annoying to filter their comments out. We have asked you to stop it and have not activated one single comment from you. This should be reason enough for you to give up on it but it seems you are not going to learn.

To all the real traders out there who want to share their experience. There’s an email address in the right sidebar. Feel free to get in touch and share your story.

More than 300.000 costumers trade with Instaforex and this makes Instaforex one of the larger brokers around. Overall Instaforex is very popular but nevertheless you have to ask if Instaforex is reliable or not. Just because it’s big doesn’t make it trustworthy.

There are scam complaints with every Forex broker and Instaforex is no exception. A lot of complaints come from trader that tried to abuse the Instaforex bonus program and got their account locked. This is a good reason and the broker has the right to do so. There’s no need to worry and you won’t have any issues if you don’t abuse their bonus program.

Some trader don’t like the fact that the Instaforex server seem to be a bit slowly if you try to scalpe. These are technical difficulties that occur rarely and not every trader experiences these problems. So no need to call Instaforex a scam.

There was a dispute between Instaforex and the Forexpeacearmy. You can read about here. Instaforex is not the only broker that rages against Forexpeacearmy and criticizes its behaviour. You have to judge it on your own what to think about this dispute.

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Exness Review – Is this Forex broker scam or legit?

My personal experience with Exness

I would like to base this review on my personal experience of trading with Exness. I want to share my experience with you.

Finding a legitimate forex broker is not a big issue as there are many trusted brokers in this industry, but finding one that suits your trading strategy best, can be a difficult task. You can read all the reviews you want, about a broker; it simply can’t tell you everything that you need to know.

I have joined several forex brokers, some of them are the biggest brands in this industry; and off course, I did my research before opening accounts with them. With every broker, I found something to be missing. I use different strategies in trading; one requires tight spreads, another one works only with 1:1000 or more leverage [using too much leverage can wipeout your whole account, but if you have a good strategy, you can use it to squeeze maximum profit from a trade while risking only small amount of money.] Anyway, my point is that I need certain features to use each of my trading strategies; for instance, I need fast-trade-execution for one of my scalping trading strategies.

After trying several brokers, I finally tried Exness and I am glad to have found this broker as it offers everything that I need. Following is a list of features I was looking for in a forex broker:

  1. Tight spread
  2. ECN account
  3. High leverage
  4. Supports multiple deposit/withdrawal options including Skrill
  5. Does not disallow any trading strategies
  6. Fast trade execution
  7. Good client area
  8. Fast withdrawal process
  9. Small fee
  10. Offer different types of accounts
  11. Customer Service/Support

Tight Spreads

Exness is offering fairly tight spreads in all types of accounts. I wouldn’t call these spreads the best, but they are better than what many other brokers are offering. I would give Exness 8/10 for the spreads it offers.

ECN account

The ECN account at Exness is very good. The max leverage is 1:200. Spreads are very good. Exness deduct small commission on each trade. This account is very good for using scalping strategies. 9/10

High leverage

Official MAX leverage advertised at Exness is 1:Unlimited, but this there are certain conditions to meet if you want to use it. The feasible option is to choose 1:1000 if you have a strategy that requires using such high leverage! 10/10

Deposit/withdrawal options

Exness currently supports eight different methods [including Skrill, formerly MoneyBookers] for depositing and withdrawing funds. These include WebMoney, Wire Transfer, CASHU, Excard, NETELLER, and more… 10/10

Trading Strategies

As far as I know, Exness does not block the use of any legitimate strategies. 10/10

Fast Trade Execution

One of the reasons why I left several forex brokers is slow trade execution in their trading platform. If you are using a scalping or any other similar strategy, then you need fast trade execution. Exness trade execution is very good; it is much faster than many brokers I used. 9/10

Client Area

Out of all forex brokers I have used, Exness has the best features in client area. You can easily create multiple trading accounts, change leverage for any account, request withdrawal, and there are many other features! 10/10

Withdrawal

Exness is one of few forex brokers who offer Instant-Withdrawal options. You can receive funds in seconds, literally! Exness processes most withdrawal requests automatically. 10/10

Fee

Exness charges small fee, or commission, on trades you execute in an ECN account. Their fee is much smaller than what many other brokers are charging. 10/10

Account types

Exness is offering several different types of accounts. Each account has a different set of specifications. 10/10

Customer Support

Exness provide 24/7 support. Their live-chat representatives are very helpful. 10/10

As you can see, Exness has everything that I was looking for in a broker. It took me a while to find the perfect broker for myself, but I am glad I finally found one, namely Exness. However, it doesn’t mean that this broker is perfect for everybody; perhaps another broker will suit all your needs. It depends on what your trading strategies are and what features you are looking for in a forex broker.

My overall score for Exness is 9/10 .

Before joining any forex broker, do a thorough research; find the broker that is offering best trading conditions that suit your trading style/strategies.

There are some other features that you may find interesting; for instance, Exness, like many other brokers, is offering trading contests from time to time.

Scam or Legitimate?

You should not worry about the legitimacy of Exness. This forex broker is 100% legitimate; they can’t get more legit then this! I mean, Exness is a legit forex broker who will always pay you your own money as well as the profits you make. You should not worry about Exness scamming you as that is not even remotely possible. It is a trusted and registered forex broker.

Update: I forgot to mention the online reputation Exness have. ForexPeaceArmy is a website that I trust. If you are worried about the legitimacy of a Forex broker, then head straight to FPA. I am not asking you to blindly trust all reviews at FPA; however, they can hugely help you in your online research. Below is a screenshot of current rating of Exness at FPA:

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