Exness is a forex broker that is based in Cyprus and was founded in 2008.
It took roughly 2 years for the broker to really gain momentum but since then their reputation as a reliable and efficient broker has exploded. Between 2010 and 2014, Exness has almost doubled in daily trading volume every year and they have experienced steady growth since.
Today, Exness is a well-established name in the industry and a popular choice among both forex and CFD traders.
Exness offers two of the best trading platforms in the world, a good selection of assets, tight spreads, and other favorable services.
Is Exness a Scam?
No, Exness is not a scam, and there are two important reasons why we are so confident that they’re not. First and foremost, Exness is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) which means that they are constantly being evaluated and audited. In fact, CySEC’s main goal is to make sure that brokers like Exness treat their customers fairly.
The other reason why we know Exness is not a scam is that they are a sponsor of the Spanish football team Real Madrid. And trust us, a high-level team like Real Madrid would never work with a company that wasn’t 100% legitimate.
Exness has yet to develop their own trading platform, instead, they offer access to two of the best and most popular platforms on the market- the MetaTrader 4 and the MetaTrader 5.
Generally speaking, the Metatrader 4 was developed for forex trading and the Metatrader 5 was developed for CFD trading. However, since Exness only offers forex trading plus a few cryptocurrencies at the moment, you will be using both platforms to trade forex. The platforms have their own benefits, and we suggest you check both out before you decide on which you would like to use.
Both of these platforms are very common in the industry, and most brokers offer at least one of them, including many of the brokers that have developed their own software as well.
The MT4 and the MT5 are compatible with all of the most popular devices today, and the MT4 even comes in a web-based version that you can open in any browser without the need to download it.
In addition, the Metatrader 4 and the Metatrader 5 both come in mobile versions that can be downloaded from the app stores.
As if that wasn’t enough, both of these platforms have some of the best analytic capabilities and state of the art charting tools that will make your trading experience as smooth and efficient as possible.
Exness’ Selection of Currency Pairs
Exness’ selection of assets consists only of currency pairs, meaning this broker is solely for forex traders and not for people looking to trade other assets. That being said, Exness also provides access to Bitcoin/USD and Bitcoin Cash/USD.
In total, there are over 110 currency pairs offered on the Exness trading platforms, however, the number fluctuates a bit depending on what account you decide to open (see in the section below).
Compared to many other brokers, 110 currency pairs is quite impressive, and Exness offers everything from the largest currencies to more exotic ones.
Exness Account Types
When it’s time to open a trading account, you will have to make a couple of decisions. First, you need to decide which platform you would prefer to trade on – the Metatrader 4 or the Metatrader 5. If you’re not sure which one suits you best, you can open an Exness demo account and test the platforms in a risk-free environment.
Then you’ll have to decide on the account type. Do you want a mini account with a minimum deposit of $1 but higher spreads, or do you want to open a classic account with a minimum deposit of $2,000 and super tight spreads? In addition, there is also an ECN account if that is what you’re into.
As mentioned, there is an Exness demo account that you can open to test the broker out before you deposit your own money, and we suggest you do so if you’re feeling even a little bit unsure.
Fund Your Exness Trading Account
Next, we will take a closer look at Exness’s payment methods for deposits and withdrawals.
Whether you want to deposit or withdraw money, you have the same four options:
- Credit or debit card – Visa or Mastercard
- Wire Transfer – A regular transfer from your bank to Exness
- Neteller – One of the largest online payment services in the world
- Skrill – Another popular online payment service
All of the above mentioned payment methods have different limits and fees, and we encourage you to study them before making a final decision.
Exness Customer Service
There is one thing that Exness really excels at compared to many of their competitors and that is customer service.
While evaluating the broker for this review, we had to contact Exness on a few occasions and we never had any issues with it. The easiest and quickest way to contact Exness is through live chat. Otherwise, you can call +357 25 030 959 and speak to a representative almost immediately. Exness even provides phone support in 10+ local languages such as Spanish, Bahasa, Thai, Russian, etc.
If for some reason you don’t think that’s enough you can request a call back at any time or send them an email at [email protected]
In addition, Exness has created a large library full of trading information, strategic advice, and other useful tips. There is also a comprehensive FAQ where all the most common questions about Exness’ services have been answered.
Summary of Exness
If you are a forex trader that likes to use the Metatrader 4 and the Metatrader 5, then this broker is perfect for you. The website is well-designed, the platforms work flawlessly, and there are over 100 currency pairs that you can trade.
Exness is regulated by CySEC and has an excellent reputation in the industry, so you never have to worry about your safety or the safety of your funds while using this broker. And if you, against all odds, would run into a problem you can always contact their talented support team.
Unfortunately, Exness is limited for everyone that would like to trade other assets than forex and for those traders there are better options out there.