Exness is a reputable online broker that offers forex trading services and many other financial instruments. This trading platform has attracted millions of investors worldwide thanks to its superior features and attractive incentives. However, besides positive reviews, Exness also has many questions about transparency and safety. To clearly understand what Exness is? Exness exchange is reputable or a scam? Please follow all the information shared in this article by TraderForex.
What is Exness?
Exness is one of the “giants” in the field of online financial transactions, having been on the market since 2008. Originating in St. Petersburg, Russia, Exness later moved its headquarters to the Czech Republic – a vibrant financial center. With a diverse portfolio that includes CFD products such as cryptocurrencies, Forex, stocks, energies, metals and indices, Exness meets the needs of a wide range of investors.
After more than 15 years of continuous development, Exness has grown to become an international financial group with a network of subsidiaries spanning the globe, including Exness (SC) Ltd, Exness B.V, Exness (VG) Ltd , Exness ZA (PTY) Ltd and Tadenex Limited. This expansion has helped Exness strengthen its position in the world market and meet the increasing demand of investors.
Is Exness reputable?
Among the countless trading platforms today, Exness is known for its many outstanding advantages. So what makes Exness different and attracts a large number of investors?
Operating license
Exness has affirmed its solid position in the international market by owning a series of operating licenses from many countries. This not only proves the reputation of the exchange but also ensures the rights of investors.
Exness operating licenses:
- FCA: FCA licenses are considered the gold standard in the financial industry. Owning this license proves that Exness has met the UK’s strict capital, risk management and customer protection requirements.
- CySEC: CySEC is the most prestigious financial regulatory agency in Europe. The CySEC license ensures Exness operates in compliance with strict information security regulations.
- FSCA: The FSCA license confirms Exness’s presence in the African market. This license ensures Exness is compliant with regulations in South Africa and protects the interests of investors in the country.
Besides the FCA, CySEC and FSCA licenses, Exness is also regulated by many other reputable financial management agencies around the world such as:
- FSA: Allows Exness to provide Forex trading services in Seychelles.
- CBCS: Exness operates legally in the Caribbean region.
- FSC: Exness provides services in the British Virgin Islands.
- FSC: Exness can operate in Mauritius.
Achievements achieved
By the end of 2022, Exness has nearly 2 million registered accounts, proving its undeniable appeal to traders around the world. Continuing the strong growth momentum, in January 2023 alone, this platform recorded a record amount of 2.822 trillion USD in total transaction volume and attracted more than 414,502 active users.
Exness’s success is not only measured by impressive numbers but also confirmed by a series of prestigious awards from prestigious financial institutions around the world.
In 2021, Exness has continuously achieved countless successes at the international Financial Markets Expo and Traders’ Summit events with many prestigious awards such as:
- Best customer support.
- The most innovative broker.
- Global Broker of the Year.
In 2023, Exness is honored to be awarded awards such as:
- Best trade execution.
- Best order management.
- Best mini broker.
In 2024, Exness was voted the best multi-asset broker at the Middle East Broker Excellence Awards.
Independent audit activities
To ensure transparency and compliance with international regulations, Exness cooperates with leading independent auditing companies, including Deloitte, to comprehensively audit financial operations. This ensures every aspect of the financial report is evaluated objectively and professionally.
Confidentiality
In April 2016, Exness faced a big challenge when it became the target of large-scale DDoS attacks. These attacks disrupted the platform’s trading system and website, directly affecting user experience.
However, with an experienced technical team and modern security system, Exness quickly detected and successfully blocked within 24 hours. Thanks to that, customers’ personal information and assets are protected safely. This event once again affirms Exness’s commitment to protecting investors’ rights.
After that, Exness has continuously upgraded and perfected the security system. Besides using traditional security measures such as two-factor authentication with Google Authenticator, SMS codes and email codes, Exness also pioneered the organization of “bug hunting and reward” contests.
Through these contests, Exness invites hackers around the world to participate in finding and reporting security holes in the system. With attractive prizes of up to tens of thousands of dollars, these contests not only help Exness detect and fix potential vulnerabilities but also contribute to improving the safety level of the platform.
Insurance policy
As a member of the Financial Commission, Exness is committed to protecting the interests of its clients. When trading at Exness, investors can be completely assured that any disputes will be resolved quickly, fairly and transparently. As a neutral third party, the Commission will ensure that the views of all parties are heard and thoroughly addressed.
The Finance Committee has established a compensation fund funded by its members, including Exness. Specifically, 10% of the monthly membership fee will be contributed to this fund. Thanks to that, each customer will receive a maximum of 20,000 Euro if a dispute occurs and a compensation decision is made.
Confidence rating
Exness receives many positive reviews from reputable, independent websites. Accordingly, this platform has received impressive scores from:
- Forex-Ratings: 3/5
- 55 Brokers: 5/5
- FXEmpire: 4.4/5
- SAShares: 4.7/5
- Top Brokers: 3.9/5
- ForexBrokers.co: 9.1/10
- WikiFX: 9/10
Overview of information about Exness
Exness is a reputable Forex exchange, highly appreciated by the investor community and industry experts. However, before participating in trading at Exness, investors should learn detailed information about this platform. Please follow the general reviews of Exness below.
Trading products
Exness offers a diverse portfolio of trading assets. However, the platform’s strengths are mainly focused on certain asset types.
- Forex: Forex is Exness’s “trump card”, with more than 100 different currency pairs from major currency pairs such as EUR/USD, USD/JPY to exotic currency pairs.
- Stocks: Focus on famous blue-chip stocks in the world such as Amazon, Tesla, Apple, Google,… These are stocks with large capitalization, high liquidity and are often of interest to many investors. heart. However, compared to other brokers, Exness’s stock portfolio is quite modest.
- Commodities: Mainly precious metals such as gold, silver and some types of energy such as crude oil.
- Cryptocurrency: Provides the most popular cryptocurrencies today such as Bitcoin, Ethereum, Litecoin, Ripple,…
- Index: Exness’s index portfolio is quite limited, focusing only on a few famous ones such as FTSE 100, S&P 500 and Dow Jones.
Account types
Exness diversifies investment options with 5 account types such as standard accounts (Standard, Standard Cent) and professional accounts (Raw Spread, Zero, Pro).
Standard account
Standard and Standard Cent accounts are two ideal options for traders who are just starting out or want to experience the Exness platform. Standard Cent opens the perfect door for investors to take their first steps into the foreign exchange and metals markets with small capital.
Each Cent deposited will create more trading opportunities, helping you get acquainted with the market safely. In contrast, Standard offers more flexibility by allowing trading of a variety of assets such as foreign exchange, metals, stocks, energy, indices,…
Professional account
If you are an experienced trader and want to make the most of the opportunities in the markets, the Exness professional account is the perfect choice. With a minimum deposit of 200 USD, Exness has affirmed that this is a playground exclusively for professional investors. Professional accounts include 3 types of accounts: Pro, Raw Spread and Zero.
Pro account: Completely commission-free, helping investors save on transaction costs. Exness supports trading of more than 30 stock codes of large corporations such as Google, Apple, Facebook, Amazon,…
Raw Spread Account: Extremely competitive spreads, which can even be 0 pips. However, investors must pay a commission fee for each transaction, this fee ranges from 0.25 to 3.5 USD/lot/way (except for stocks).
Zero Account: Spreads are almost 0 pips on around 30 financial instruments for most of the trading period. The commission fee when trading with this account type is the highest among the 3 account types, starting from 0.2 USD/lot/way or more.
Trading platform
Exness offers a wide range of trading options, from convenient mobile apps (Exness Trader) to intuitive web platforms (Exness Terminal, MetaTrader WebTerminal), and even specialized software (MetaTrader 4, 5, MT4 MultiTerminal) can be installed on the computer. Whether you are using a phone, tablet or desktop computer, you can make transactions.
MetaTrader 4 (MT4)
As the oldest and most popular Forex trading platform, MT4 has an intuitive, easy-to-use interface. MT4 provides all the necessary tools for Forex trading such as 50 technical indicators, 3 chart types, 9 time frames, 6 pending order types and a variety of currency pairs, metals, energies, and indices. , stocks.
Mt4 allows investors to use leverage up to 1: infinity, however, you need to carefully consider the risks when using high leverage. At the same time, investors can trade with account types with spreads as low as 0.0 pip, suitable for many trading styles.
MetaTrader 5 (MT5)
As an upgraded version of MT4, MT5 possesses many more modern and professional features. The platform provides 38 technical indicators, 22 analytical tools, 21 time frames (both default and custom), helping investors analyze the market more deeply.
MT5 supports trading a wide range of assets such as Forex, metals, energies, indices, stocks and even cryptocurrencies. Provides 8 types of pending orders, including advanced types of pending orders such as Buy Stop Limit, Sell Stop Limit. Account types with low spreads from 0.0 pips and commissions starting from 0, maximum leverage is only 1:2000.
WebTerminal
Supports MT4 and MT5 trading directly on the web browser, no need to install software. WebTerminal can be used on a variety of operating systems and browsers, providing all necessary trading tools such as charts, indicators, market orders, and pending orders.
Exness Terminal
The Exness Terminal interface is intuitively designed, easy to use, especially suitable for beginner investors. TradingView’s integrated platform provides a variety of drawing tools, indicators and time frames for technical analysis. However, currently Exness Terminal only supports MT5.
Exness Trade App
Support investors to conveniently trade anytime, anywhere on smartphones. Exness Trade App can be combined with Exness Terminal features such as account management, market analysis and trading.
MT Mobile
Familiar interface, similar to the desktop versions of MT4 and MT5. The platform offers a full range of trading and analytical tools, available on both iOS and Android.
Exness Social Trading
Allows new investors to copy orders from experienced traders. This helps improve trading efficiency and increase profitability thanks to the experience of experts.
Trading costs and leverage
Exness always aims to provide customers with a fair, transparent and lowest-cost trading environment. The exchange’s fee policy is very clear, without any hidden fees.
- Spread: At Exness, spreads are very diverse, suitable for many types of investors. Standard accounts have spreads starting from 0.3 pips, professional accounts have competitive spreads from just 0.0 pips.
- Overnight fees: Exness has created a significant competitive advantage for investors by completely eliminating overnight fees (swap) for most trading instruments, including major currency pairs, stocks, currencies electronics, indices and gold. This decision helps investors save costs and maximize profits.
- Commissions: Pro account (commission free), Raw Spread (up to $3.50 per lot/1 way), Zero ($0.2 per lot/1 way).
- Leverage: Exness does not limit leverage, providing many opportunities for investors. However, to take full advantage of leverage, investors need to manage capital effectively to avoid large risks.
Deposit and withdrawal method
Exness has the fastest deposit and withdrawal processing speed on the market. Thanks to the modern automatic payment system, investors can deposit and withdraw money anytime, anywhere, even on weekends. The exchange provides a variety of payment methods such as Internet Banking, Visa/MasterCard cards, e-wallets, cryptocurrencies,… making transactions on Exness more convenient and flexible.
General regulations on depositing and withdrawing money on Exness:
- Personal account: Exness only accepts payments from customers’ official bank accounts or e-wallets.
- Account Verification: To make a deposit, your account must be fully verified.
- Minimum deposit amount: Each account type will have a different minimum deposit amount, please check this information carefully before making a transaction.
- Deposit 24/7: You can deposit money at any time of the day.
- Withdrawal rate: If you use multiple deposit methods, the withdrawal amount will be divided proportionally.
Customer policy
Exness provides a diverse and convenient customer support system, helping investors answer all questions quickly. You can choose one of the following support channels:
- Help Center: Knowledge treasure with thousands of frequently asked questions scientifically arranged, helping investors find effective solutions to problems they encounter.
- Online chat: Interact directly with the support team through the online chat feature. The smart virtual assistant will support investors in the initial steps. If necessary, you will be connected to a support staff.
- Email: Email [email protected] for email support. You will receive a response from Exness within 24 hours.
Steps to open an Exness trading account
Opening an Exness account is the first step for investors to participate in the foreign exchange and other asset trading market. This process is done simply and quickly as follows:
Step 1: Access Exness
Open a web browser and search for “Exness” in the search bar. After entering the home page, you will be asked to choose the account type that suits your trading needs. Exness offers a variety of accounts with different trading conditions and fees.
Step 2: Fill in personal information
Enter the exact mobile phone number or email address you are using to receive the verification code. Then, create a strong password, combining uppercase letters, lowercase letters, numbers and special characters for better account security.
Investors provide complete and accurate personal information such as full name, date of birth, country, address, etc. This information will be used to verify the investor’s identity during the process. transaction process.
Step 3: Verify account
Enter the exact verification code sent to your phone number and email address.
- Identity verification: After verification via email and phone number, you will be asked to verify your identity by providing identification documents such as ID card or passport.
- Verify bank account number: To make deposits and withdrawals, you need to link your bank account to your Exness account. You will be asked to provide bank account information and may be asked to send a copy of your bank card or account statement.
Step 4: Secure your account
You choose one of the following security methods:
- Phone number: This is the highest security method, helping investors restore their accounts quickly and safely in case they forget their password.
- Email: This security method is also quite popular, but it may take longer to recover your account than using a phone number.
The verification code will be sent by the Exness system to the registered phone number or email address. Please enter this code correctly to complete the verification process.
In addition, you will also be asked to provide a copy of one of your valuable identification documents such as: ID card/citizen identification card, passport, driver’s license. Then, to verify your residential address, you will need to provide a copy of your electricity, water, gas or other bills clearly stating your name and address.
Step 5: Choose a trading platform
You choose the platform that suits your needs and trading experience such as MT4, MT5, WebTerminal… Then, you choose the account type, prefix symbol and name the account.
Advantages and disadvantages of Exness
Exness is a famous Forex exchange and is chosen by many investors. However, like every other exchange, Exness also has its own advantages and disadvantages.
Advantages of Exness:
- Free VPS: Exness provides free virtual server (VPS) service, helping investors trade more stably and professionally, especially when using automatic algorithms.
- Super fast withdrawal: You can withdraw money to your bank account anytime, anywhere, including weekends.
- Separate accounts: Clients’ investment capital is kept in separate accounts with Exness, ensuring safety.
- Narrow price range: Narrow price range helps investors conduct transactions at lower costs.
Disadvantages of Exness:
- Limited customer support: Despite offering 24/7 support, Exness only offers certain languages.
- Limited training materials: Exness’s training materials are quite limited, which can cause difficulties for beginner investors.
- Market restrictions: Exness does not accept clients from the United States, causing restrictions for some investors.
Questions related to Exness exchange
Does Exness have a negative balance protection mechanism?
Have you ever worried about losing all your investment money because of one wrong trading decision? With the negative balance protection feature, Exness helps you completely eliminate this worry. Suppose you place an order to buy a stock and the price suddenly drops sharply. Instead of facing large losses that could cause the account to go negative, Exness will take the fight and ensure that investors do not lose more than the amount deposited.
In which countries is Exness banned?
Exness does not accept clients from certain countries and regions. This decision is based on legal regulations and operational risks in each region. Specifically, Exness does not serve citizens and residents of dependent territories of the United States such as American Samoa, Guam, Puerto Rico, etc. Some other countries and territories such as Martinique, Vatican City, US Virgin Islands. The investor’s nationality and residence will be determined based on information on valid identification documents.
How does Exness make money?
Exness profits from the difference between the buying and selling prices of a currency pair. In other words, when an investor places a buy or sell order, he or she will have to pay a small additional fee, called the spread, to participate in the market. Let’s say you want to buy the USD/EUR pair. If the buy price is 1.1200 and the ask price is 1.1205, then the spread of this currency pair is 5 pips. This means you will have to pay 5 pips more than the market price to open a long position.
Conclusion
With outstanding advantages such as friendly interface, high security, fast transaction speed and professional customer support, Exness has affirmed its position as a leading reputable Forex exchange. However, trading at Exness also poses many risks, so investors need to comply with the exchange’s regulations and verify their accounts to increase security. If you have any questions related to Exness, do not hesitate to contact TraderForex for quick support.
