Exness forex broker attracts many forex traders with high leverage. Founded in 2008, this broker is believed to be a scam broker by some investors due to the high leverage that it has offered.
I reviewed Exness based on the following criteria.
- Regulated broker
- Low spreads
- The minimum deposit is $1
- Maximum leverage is unlimited
- Payment methods are limited
Is Exness a safe broker or a scam? What are Exness account types? How much is the maximum leverage and minimum deposit? What are the methods of depositing and withdrawing money? Let’s browse together.
|📃 Regulation||CySEX, FCA, SFSA|
|💰 Trading fees class||Low|
|💰 Minimum deposit||$1|
|💰 Withdrawal fee amount||$0|
|🎮 Demo account||Yes|
|🕖 Time to open an account||1 day|
|💳 Deposit with bank card||Available|
|💸 Depositing with electronic wallet||Available|
|🛍️ Products offered||Forex, Metals, Indices and Energies, Cryptocurrencies|
Regulation and Investor Protection
Regulation and Investor Protection
Reliability is the first and foremost point to consider in Forex companies’ reviews. There are a few things to look at to test reliability. The most important of these is whether the company is regulated or not.
The regulation gives a sense of trust to traders that they can make sure that when trading with any specific broker their funds would be safe, protected and segregated. In addition to having some compensation schemes applied but some of the regulatory organizations ( like the FCA) are in case of any financial dispute or crises.
Also, the brokers must keep the client’s funds in segregated accounts, separated from the company’s operating funds. So if the broker goes bankrupt, investors’ funds will not be affected by this negative situation.
Luckily, in that case, the question of “is Exness regulated” or “is Exness scam” are both out of the picture now since Exness is regulated via 3 different regulatory organizations from 3 different and they are as follows:
- Exness (SC) Ltd is a Securities Dealer registered in Seychelles with registration number 8423606-1 and authorised by the Financial Services Authority (FSA) with licence number SD025
- Exness B.V. is a Securities Intermediary registered in Curaçao with registration number 148698(0) and authorised by the Central Bank of Curaçao and Sint Maarten (CBCS) with licence number 0003LSI.
- Exness (VG) Ltd is authorised by the Financial Services Commission (FSC) in BVI with registration number 2032226 and investment business licence number SIBA/L/20/1133
If a forex broker does not cause problems for investors when they withdraw, if every investor can withdraw their money at any time, that shows that the broker is reliable.
When I tried this broker, I did not face any Exness withdrawal problems during the withdrawals. I also looked at the opinions of other investors. But I have not seen anyone who has trouble with money withdrawals.
Exness Account Types
Exness offers different Exness account types targeting both normal and experienced traders in the market in which the characteristics of the accounts match most of the needs of the traders.
The available accounts are broken down as follows:
The Standard accounts
Where here you get to have another embranchment into two categories:
The Standard account: no minimum deposit is applied and it mainly depends on the payment method you choose to deposit your account with. The spread levels range to reach 0.3 pips and no commissions are applied on transactions done within this account type.
The maximum leverage offered is also quite flexible, you can use whatever leverage amount you see fit for your strategy since the Exness leverage is 1:unlimited. The available trading instruments are various including Forex, metals, cryptocurrencies, energies, stocks, and indices. The number of positions available when trading with this account type is unlimited which allows taking as many positions in the market as you’d like.
The Standard Cent account: With this Exness account type, you can get a spread of 0.3 pips and a minimum deposit also depending on the deposit method you’d use. The maximum leverage is the same as the standard account and no commissions are applied to transactions made via this account. The trading instruments available are quite scarce and include only Forex and metals. The maximum number of positions allowed on the standard cent account is 1000.
The minimum lot size available for trade for both Standard accounts is the Micro lot which is 0.01 units from the standard lot. The maximum lot size available is 200 it can be changed in the case of the standard account. Both account types here are available on the MT4 trading platform, while the MT5 is only possible, additionally, on the Standard account only.
The Professional accounts
The Exness account types that are listed below are more suitable for the more experienced traders in the forex market since they provide characteristics that suit scalpers, day traders and Algo traders.
The Raw Spread Account: where the minimum deposit is $200 and the spreads are raw to reach 0.0 pips, there is a commission of $3.5 on each side per lot applied on the made transactions.
The Zero Account: with the same minimum deposit of $200 and raw spreads from 0 pips. the commission added to this account type is different to reach $0.2 for each side per lot.
The Pro Account: This Exness account type has a spread of 0.1 pips applied in addition to the absence of any added commissions. The minimum deposit is also $200.
All professional accounts are available on the MT4 and MT5 trading platforms. Besides, the maximum offered Exness leverage on them is 1: unlimited which allows the traders to choose the amount of leverage they’d like to have. Additionally, all the professional accounts have Forex, metals, cryptoсurrencies, energies, stocks, and indices as the proposed trading instruments to use in any of the accounts in this section.
Funding Methods in Exness
There are multiple ways offered for the clients to fund and withdraw from their account which is a great plus point to consider in this Exness review. Due to the variety of c choices, the possibility of having Exness withdrawal problems is non-existent and quite scarce.
These methods are as follows:
|Used Method||Minimum Deposit||Deposit Processing time||Minimum Withdrawal||Withdrawal Processing time|
|Bitcoin||$10||3 days||$10||3 days|
|Tether||$10||3 days||$100||3 days|
|USD Coin||$10||3 days||$100||3 days|
|Neteller||$10||3 days||$4||5 days|
|Skrill||$10||5 hours||$10||2 days|
|Perfect Money||$50||5 days||$2||3 days|
|SticPay||$10||2 days||$1||5 hours|
|Bank Card||$10||5 days||$10||10 days|
|Bank Wire Transfer||$10000||3 days||$250||3 days|
|Singapore Internet banking||—||—||$160||5 hours|
The instruments that you can use for trading are
Forex: here you can trade majors, minors and exotic currency pairs where the spreads are floating and also fixed as can be seen on the Zero account that has the lowest fixed spread of 0 pips.
Metals: Silver, Gold, Platinum and Palladium are available for trade with zero commission and a 0.05% margin level. Metals are considered the safe haven for forex traders in the market since they provide them with the chance to trade on the rise and fall of the process in addition to trading with them without actually paying for owning the metal itself.
Cryptocurrencies: Bitcoin, Polkadot, Dogecoin, Ethereum, Ripple and more are examples of the available cryptocurrency available for trade where you get to trade them against different other investment products like gold, USD and others. Zero commission I s applied and a 5% margin is available.
Energies: Crude oil and Brent along with natural gas are the proposed energies for trading with Exness where you can have very competitive spreads and trading conditions, In addition, trading oil and gas allows the chance to benefit from the price movements in the market.
Stocks: the biggest names in tech and industry, including Google, Amazon, Tesla, Alibaba, Intel and more are presented for a trade where you can open as many positions as you want and enhance the performance of your trading portfolio.
Indices: FTSE 100, S&P 500, Dow Jones and more are the available tradable indices where a last-order execution takes place and the ability to guess the price movements are allowed.
Exness is a duly-regulated forex broker who offers good trading conditions. It provides MT4 and MT5 trading platforms. These platforms have good performance and are reliable.
Different types and categories of Exness account type are presented to the clients. They can choose whichever matches their trading needs and apply to open it, with different trading instruments available to allow the perfect chance for hedging and diversity.
Additionally, funding and withdrawal methods provide quite the list to choose from whichever suits you from e-wallets to cryptocurrencies and bank cards and bank transfers in addition to local channels too.
You can easily open an account with this broker. You can click the open an account button and go to the website of the broker. If you did not like the broker’s offers, you can check my best forex brokers list and find a better one!