Exness is one of the leading online Forex brokers that have its headquarters in St. Petersburg, Russia. It was established in the year 2008. Today, it has grown into one of the major broker in the industry. It has also emerged as one of the few online Forex brokers that offer 100% transparency in its operations. Exness has a clear mission – to offer affordable, reliable and high quality services using state-of-the-art trading technologies for both their partners and clients.
In this exness.com review we can see that Exness is regulated under CySec, which in itself is a sign of its reliability. The broker complies fully with the trading standards of the EU market. This broker seems to take its clients too seriously, as they make additional efforts to respond immediately to the needs and complaints for their traders. Every level of trader would find Exness to be the perfect choice.
ISO Certification and Awards
Exness forex broker is in the rare list of Forex brokers that are ISO 9001:2008 certified. This certification was presented to this broker for quality management in financial trading and currency markets in the year 2011. The year 2012 saw the broker win a coupe of major awards:
• Best Broker in Russia by the World Finance Magazine
• Best Broker in the Middle East by the World Finance Magazine
However, their website doesn’t offer lots of information about Exness’ origin as a company. According to the available information, Igor Lychagov is the General Director or CEO of the company and it was established in the year 2008. Exness has its headquarters in St. Petersburg, Russia and their website offers their complete official address.
Exness offers different types of trading services including the following:
• Forex trading
• Futures trading
• CFD trading
The Exness forex website offers clear instructions about their trading hours for each type of service. Different sections on the website offer information on leverage ratios and account minimums. However, it would have been better if they had clearly dictated all the client options.
Exness may not be offering a flurry of trading platforms like other online Forex brokers, but they cater to the needs of every type of client. They offer 4 types of trading accounts for their traders. These accounts are:
1. Cent Account
• Traders can open this account with just $1.
• It is designed specifically for those traders who are new to the world of Forex and want to learn how to trade.
2. Mini Account
• Account can be opened with just $10.
• It is perfect for starters in Forex but offers little more advanced trading conditions.
3. Classic Account
• Minimum account opening deposit is $5,000.
• It is designed for professional traders who require complete range of tools.
4. ECN Account
• Minimal deposit of $1,000.
• It is designed for professional and advanced traders.
Spreads and Commission
Contrary to other online Forex brokerages, Exness exempts its traders from charging any commissions on the trades. On the other hand, they generate revenues by adding spreads on the quotes offered to clients. The reason they became so popular is because their spreads is among the lowest in the industry. When it comes to their ECN accounts, they charge $25 for every trade of $1 million.
Exness has tried to keep the spreads to the lowest possible level.
• EUR/USD Starting Spreads = 0.7 for Mini Accounts
• EUR/USD Starting Spreads = 0.1 for $100,000+ Accounts
You would have difficulty in finding better spreads than this. If you choose spot Forex, there is no need to pay for any commissions.
Exness allows you to trade on a large number of instruments. This includes:
• 150 Forex pairs
• Dozen exchanges ranging from Jakarta to New York
• Russian futures
Spreads are next in the list that are kept very less, with EUR/USD which is starting with 0.7 pips at mini accounts as well as less as 0.1 on a/c of $100,000 plus. Both ways, these are the best spreads which you will have anywhere, as well as in the spot forex, no commission to give on peak of this.
The EXNESS as well provides customers an access for trading a great number of tools, from one-fifty forex pairs in the direction of CFDs from eleven various connections from NewYork to Jakarta, also Russian futures and NYMEX.
At the top of everything, all the traders are greeting to trade a swap-free accounts, and without extra charges. This is very rare as well as may be a great benefit in several long-term strategies.
They offer MetaTrader 4 as their trading platform developed by Metaquotes Software Corporation. You can download their platform from their link. Trading Platform
Exness offers the reliable and industry-leading MetaTrader platform for its clients. They offer both the MetaTrader 4 and MetaTrader 5 trading platform. If you are a professional trader having multiple accounts, the MT4 Multi-terminal platform can make it easier to manage things.
Clients can also opt to trade from their mobile devices if they are always on the move. The devices covered include:
• Windows Mobile Phone
Similar to its competition, Exness also allows you to offer a demo account. This gives you the chance to test online trading as a beginner for developing their trading skill before risking their hard-earned money. There is a special section on their website that introduces beginners to Forex trading. However, it is more superficial in its nature when it comes to the amount of knowledge contained in it.
Exness offers the following deposit methods to its traders:
• Liberty Reserve
• Perfect Money
• Skrill or Moneybookers
• RBK Money
• Wire Transfer
They have a special press release page on their website that offers 24-hour technical support to Exness’ clients. Earlier, there was a Live Chat option on their website, which is not working currently. During the time this review was written, a click on the link opened up a web form asking for email details.
An important aspect of Exness is the level of security they offer on their website. Their home page uses only highly secure variant of the HTTP protocol, the HTTPS web protocol. It is designed to carry out only highly secure online transactions.
Hedging – The Forex broker ensures paying all the profit without concern for its size on all the transactions made through them. The following systems provide for this:
• Based on the account type, transactions would be hedged for participants in institutional market or individually or for aggregate position.
• In the case of ECN accounts, every transaction needs to be shown in the inter-bank market.
Lack of Conflict of Interests – When it comes to ECN, we act as the intermediary for providing choice and faster order execution at the hands of retail ECN participants.
Minimum Non-Trading Risks – Exness uses the most advanced software and tools for eliminating any chances of errors.
Their Free VPS service is offered for a minimum deposit of US$ 500 or an equivalent amount in another currency. The Exness VPS service has the MetaTrader 4 platform as a standard. You can start trading by signing into your MetaTrader account. In addition to VPS, they also offer their unique Dow Jones news service onto the MetaTrader 4 platform. This includes providing the latest in financial and business news.
If you think that because Exness has its headquarters in Russia, traders from other parts of the world cannot use their services, you are wrong. You could be from any part of the world, but Exness allows you to sign-up and start trading.
The ECN accounts from Exness have highly competitive spreads, which are almost unmatchable. They charge a commission of $25 per $1 million on their ECN accounts. This indicates that their commissions are nominal and not expensive. Their ECN account could be opened for just $1,000 or an amount equivalent in another currency. Due to this lower fund requirement, it is possible for an ECN trader to make the most out of their freely offered VPS service.
What I like at Exness the most ? New feature – instant withdrawal is the best thing at Exness forex broker. When I create withdrawal for 2 minutes I will get my money. Without waiting. Excellent.