Exness Review 2024: Pros & Cons

exness forex

For desktop trading, Exness supports the widely acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are renowned for their extensive charting tools, technical indicators, and capabilities for algorithmic trading. If you are logged in to an MT4 account, you will be redirected to download the MT4 mobile app on your phone. For one hour after the market opens, your positions will remain at the increased margin requirements.

Withdrawal Options and Fees

Opening an Exness trading account follows well-established industry standards via an online application. The first step consists of providing the country of residence, e-mail address, and the desired password, which loads the Exness Terminal. Founded in 2008, Exness serves over 800,000 clients across its regulated entities, including in the U.K., Cyprus, South Africa, Kenya, Jordan, Seychelles, Mauritius, the British Virgin Islands, and other offshore entities. The trading costs will depend on the account type you select, as the two commission-based accounts have lower spreads xcritical scam compared to the commission-free accounts.

The Exness MT4 and MT5 apps allow traders to work from anywhere, with nine timeframes, 30 indicators, and interactive currency charts. Functionality to close and modify existing orders, calculate profit/loss in real-time, and tick chart trading further empowers traders while on the move. If you’re just starting out as a beginner, the Standard Best Brokers for Micro Trading could be a good option as it allows you to trade with smaller lot sizes (0.01). It’s important to note that values are also reflected in cents rather than dollars (or whatever the cent equivalent is in your account currency). No commissions are charged on Standard Cent accounts, however, be aware that since you are trading with micro-lots, spreads will be wider than with other accounts. Unlike with market execution, you will get a requote when spreads differ from your ordered price thus giving you a chance to accept or reject the new price.

Deposit Fee

Exness is one of the most accessible brokers and accepts traders from most countries, aside from residents of certain jurisdictions including the USA, Iran, North Korea, Europe, the United Kingdom, and others. Exness is a multi-regulated broker, and account verification is mandatory. Most traders will pass verification after submitting a copy of their ID and one proof of residency document. Better-than-market conditions, unique features and cutting-edge security, partnered with our dedication to transparency and excellent customer service, are the reasons traders continue to choose Exness.

At the start of 2022, Exness launched its own developed social trading called Exness Social Trading. Like most decent social trading software, you will find a large range of strategy providers as well as a ranking system for the best copiers in the network and filters to help you find the people you wish to follow. However, we found this app to be somewhere different from other apps we have seen as it kept information displayed about strategy providers to what you should care most about such as risk and profit rate. In other words, it does not bother with nice to have information such as stop loss, take prod and equity. We thought the interface for this terminal was very clean which made it super easy for us to navigate to find information related to the trading instruments and analytical tools we wanted to research. Another feature we liked is that you can set your stop levels by price, percentage or account currency.

  1. Not only can you choose between 3 quality trading platforms they also have a good social trading app that avoids the generic offering many brokers are creating.
  2. xcriticalg money depends 100% on traders, their understanding of the markets, their trading tools, and their ability to trade.
  3. ⁴Best spreads refers to average or max spreads offered by Exness, excluding agents’ commission for XAUUSD for the first two seconds after high-impact news, from January to May 2024, compared with five other large brokers.
  4. In addition to offering the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, Exness also provides its Terminal web platform which features robust charting and order types in an otherxcritical minimalist design.
  5. If we ignore the quick of somehow downloading Pocket Option (which you are unlikely to come across in markets Exness actually accepts clients from) then we think the offering Exness have is quite decent.
  6. Exness will archive MT4 demo accounts after 180 days of inactivity and MT5 accounts after 21 days (for some servers it can be 14 days).

We think this account is best if you know exactly which currency pairs you intend to trade. In the table below, we compare the published spreads Forex brokers list on their websites with the published spreads Exness list for their commission-based accounts. Exness does claim to have an average of 0 pips for selected certain currency pairs and this stands out since no other broker claim this. I like the trading fees at Exness and the absence of swap rates on leveraged overnight positions on several assets. It ensures that traders can have a competitive edge, by minimizing potential fees when holding positions open for longer versus more expensive brokers. Overall, Exness’ flexible deposit and withdrawal options contribute to a user-friendly experience, allowing traders to efficiently manage their funds.

The account opening and verification process at Exness is fully digital, and accounts are ready within 48 hours, which is about the industry average. But traders can make a deposit and start trading immediately while they wait for verification. It’s available for both iOS and Android, it has all the features you would expect of a mobile trading app. That is one-click trading and charts designed for the small screen, unsurprising the analytic tools are a bit more limited compared to the web version. The mobile version comes with TradingView charts integrated which is good especially as you can receive signals that TradingView will curate for you. We also found that the buy and sell buttons have market sentiment displayed on the, which was quite cool.

We recognize our obligations in updating and expanding this program to meet the requirements of GDPR. FxScouts is dedicated to safeguarding the personal information under our control and in maintaining a system that meets our obligations under the new regulations. For the purposes of this review, we tested all three platforms – Exness’s web trader platform, MT4, and MT5. Traders in Jordan will trade with Exness Limited Jordan Ltd which is authorised and regulated by the Jordan Securities Commission (JSC).

exness forex

Overall, we scored Exness well given the large amount of leverage available. Of course, excessive leverage is never a good thing, but we think the flexibility and the freedom to set your own limit is a big plus for Exness. Funnily enough, I asked my colleague in Australia (where Exness don’t serve to assist me with testing the app) and unlike me, he uses iOS and he had a strange experience. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises xcritical companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). Read our full explanation and accounting of our research and testing process to learn more about how we test.

Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). Exness excels in its account opening procedure, which is both efficient and user-friendly. Typically completed within 1 to 2 days, the process is quick and hassle-free. Exness distinguishes itself by offering a seamless verification process that prioritizes compliance and security while expediting account activation. These distinctive features contribute to the overall positive experience of opening an account with Exness, making it an attractive choice for traders.

with low and stable spreads³

Another unique feature is its customisable timeframes that can be set to any time interval and its trading alerts, available on any device, with 12 different alert conditions. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.

exness forex

The Exness Standard account offers you the full range of assets across forex, metals, cryptocurrencies, energy, indices, and stocks with no commission cost. With over 100 forex pairs, 34 crypto pairs, 98 blue-chip stocks, 13 commodities and 10 indices, you’ll have plenty of assets to choose from. Exness ranks among the industry leaders and is the largest retail Forex broker by trading volume.

Exness does offer a live chat bot which is decent but it still couldn’t answer some basic questions like “Is there an inactivity fee”. It was however able to tell us the difference between the trading accounts and suggested a suitable page with further information. If this sounds of interest, there are a few limitations that you should know about first before opening an account. Firstly, account currency types are reduced, and the range of assets you can trade is restricted to forex and metals, with a total of 36 instruments available.

Customer Support

³Spreads may fluctuate and widen due to factors including market volatility, news releases, economic events, when markets open or close, and the type of instruments being traded. Any interaction with this website constitutes an individual and voluntary operation on the part of the person accessing it. This website and its content should not be understood as an invitation for the contracting and/or acquisition of Exness’ financial services and products. FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. Our in-depth reviews consider over 200 metrics across seven key categories.

For the purposes of the review, we tested the live chat service and email. We tested Exness’s live chat and found that the customer service agents were polite and helpful. Based on selected timeframes, xcritical TC Indicator will display the latest Trading Central articles, whether on an intraday, short-term, or mid-term basis. Traders can program and fill in orders based on the TC Indicator levels directly from their MT4 screen.

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