Review about Exness broker, is reliable or scam?

Exness scam or legit broker
Exness broker logo

Exness is an award-winning, international retail forex broker that provides global-scale forex trading services and founded in 2008.

Exness Limited Company has permission from the FSA Saint Vincent and the Grenadines (license number 21927 IBC 2014) and CySEC Cyprus (license number 178/12). Whereas specifically for Exness UK, it has regulated by FCA (license number 730729).

Based on a deep understanding of the needs of traders, this modern forex company provides trading facilities with the most stringent spreads and accurate execution on the market today.

At present, the Exness broker has become one of the trusted choices among forex traders, especially those who need flexibility in trading conditions for various strategies.

The legality and credibility of the Exness broker undoubtedly because it has registered by several regulators.

Exness's financial statements also regularly audited by Deloitte, one of the four largest accountants in the world. Based on the report, Exness has around 74 thousand active clients and handles trading volumes up to over 380 billion USD as of October 2019.

In terms of the services provided, we can categorize Exness brokers as standard or ordinary brokers because there are no facilities such as PAMM and Copy Trading. Exness is more focused on providing the best conditions on basic trading components such as spreads and leverage. We also know this customer service broker for being solid, responsive, and trouble-free.

However, this returns to the style and needs of the trader. If you are purely trading alone and don't need a platform or unique trading scheme like that, then Exness can meet your needs.

Exness broker's strengths especially lie in super-low spreads, a minimum deposit of only 1 USD on cent and mini accounts, and an automatic withdrawal system (instant). For withdrawals sent via e-wallets (such as Neteller, Skrill, and Fasapay), usually, we only wait a few minutes (the instant withdrawal speed is almost the same as when we deposit)

Exness website display is also very simple and easy to navigate, so clients can easily find the information needed.

Exness itself is arguably the broker Non-Dealing Desk (NDD), STP and ECN. For Deposits and Withdrawals via Wire Transfer, Debit / Credit Card, Internal Transfer, Fasapay, Perfect Money, Neteller, Skrill, WebMoney, Moneybookers, AstroPay, Bitcoin, Local Banks, and Internet Banking.

As with other regulated brokers, to register at Exness you must verify your personal data and documents stating your place of residence.

To join and be able to trade on Exness, all you need to do is fill in the Initial Registration Form available on the official website homepage, then verify the account by uploading the required documents/photos. Then you can immediately create a trading account and deposit funds and start trading.

Exness Account Type

Exness is an STP / ECN broker, so it can provide four types of trading account options for its clients, namely Cent, Mini, Classic, and ECN. The following is a complete description of the service for each account type:

Cent account

  • Cent accounts are suitable for novice traders who want to try trading on the real market. You could say a cent account is a transition account from demo to real.
  • Minimum deposit: 1 USD
  • Maximum Leverage: Unlimited
  • Spread: Starting 0.3 pips
  • Trading commission: zero
  • Minimum Lot: 0.01
  • Type of execution: instant
  • Maximum number of trading positions: 100
  • Trading platforms: Metatrader 4 and Metatrader 5

Mini account

  • Mini Account is suitable for novice traders who want to try out forex trading practices on the Metatrader 4 and Metatrader 5 platforms.
  • Minimum deposit: 1 USD
  • Maximum Leverage: Unlimited
  • Spread: Starting 0.3 pips
  • Trading commission: zero
  • Minimum Lot: 0.01
  • Type of execution: instant, market
  • Maximum number of trading positions: 100
  • Trading platforms: Metatrader 4 and Metatrader 5

Classic Account

  • This Classic account is more suitable for experienced traders who are ready to pioneer their forex trading careers more seriously. 
  • Classic accounts offer traders more freedom without a limit on the maximum number of trading positions that can be open at one time. 
  • Orders from the Classic account processed by the dealer to determine whether they will distribute to the inner border market or executed directly.
  • Minimum deposit: $2000
  • Maximum Leverage: Unlimited
  • Spread: Starting at 0.1 pips
  • Trading commission: zero
  • Minimum Lot: 0.1
  • Type of execution: market
  • Maximum number of trading positions: Unlimited
  • Trading platforms: Metatrader 4 and Metatrader 5


ECN account

  • Exness ECN accounts are suitable for experienced traders who are interested in exploring the privilege of trading access directly to the interbank market with spreads starting from zero pips
  • Minimum deposit: $300
  • Maximum Leverage: Up to 1: 200
  • Spread: Starting from 0 pips
  • Trading commission: 25 USD per 10 standard lots
  • Minimum Lot: 0.01
  • Type of execution: market
  • Maximum number of trading positions: 2000
  • Trading platform: Metatrader 4


Update!


In December 2019. I opened the Exness website. This account now differs from what I wrote above. Where is the difference for the current, many Exness accounts in Metatrader 5 have a maximum leverage of 1: 2000, while those in Metatrader 4 have a maximum leverage of 1: Unlimited.

Besides, the account is also different where we only find 2 types of accounts, namely: Standard and Professional. For the standard, there is only one type, while the Professional is further divided into 3, namely: Raw Spread, Pro, and Zero. 

For more details about the different new Exness accounts, you can see the image below:
New Standard Acount type Exness
New Standard Account type Exness



New Professional account type exness
New Professional account type Exness


Exness broker advantages:

  • To trade specifications, the most prominent advantage of Exness brokers is the very low spread. For example, the spread for Mini and Classic accounts is 0.3 pip, so it is suitable for traders using scalping techniques. Even spreads on major pairs for ECN account types can be as low as 0.0 pip, depending on market conditions.
  • Besides, this broker does not limit the leverage that the client wishes to get (max leverage = 1: Unlimited). So you are free to determine whatever leverage you want in this broker and can start trading with small capital.
  • Exness's experience since 2008 has been a plus that can show its credibility. This broker won several prestigious international awards.
  • Its ability to cover the needs of all traders through a variety of Cent, Mini and ECN accounts makes Exness easy to reach by more traders around the world.
  • Various deposits and withdrawal methods, including Wire Transfers, Internal Transfers, Debit / Credit Cards, Skrill, Neteller, WebMoney, FasaPay, Perfect Money, and Bitcoin.
  • Deposit and withdrawal fees at this broker are free and there are no account maintenance fees.
  • With the Automatic Withdrawal system, besides the plus factors, there are also negatives. They will check each withdrawal process first by the broker to ensure the authenticity of the order given. If the process runs instant, then in this case as a client you must really maintain the security of your Exness account.
  • Another advantage is that Exness can provide good customer service in the various languages ​​available.
  • Account base currency options include USD, EUR, INR, AUD, RUB, IDR, BTC, and others.
  • Muslim traders can choose the swap-free account option that is following the Islamic provisions.
  • Exness does not limit trading techniques, so traders are free to use any technique, including for Hedging, Scalping, News-Trading, and Auto-trading.
  • To increase income, the Exness Introducing Broker program is available. The advantage of being an Introducing Broker is getting a 33% percent spread commission from every trader who registers through them.
  • By becoming an Exness Partner, you can get a spread commission of up to 25% of transactions made by traders who register through an affiliate link. The Exness Partner Program does not require special registration, because all registrants will automatically get an affiliate link.
  • Exness broker is one of the solid STP/ECN brokers from Europe because Exness is the official partner of the Real Madrid C.F. soccer club.

Exness broker disadvantages:

  • I can say Exness to be less flexible in offering additional trading features such as the PAMM and Copy Trading platforms.
  • It still offers a limited selection of instruments in forex and cryptocurrencies, metal, and CFD stock.
  • Exness rarely holds online trading contests and lacks promotional bonuses.

Conclusion:

  • Exness broker is perfect for those of you who only need trading facilities with low spreads and free withdrawal deposits without the burden of transfer commissions.
  • Because they have regulated it by a first-class regulator, namely FCA (specifically the UK), we can trust the credibility of Exness.
  • Whatever strategy you use, whether it's Scalping, Hedging, Expert Advisors, News-Trading, Martingale, etc. also allowed on this broker so traders can be free according to trading style.
  • However, this broker is not suitable for those of you who like to look for activities and side income from bonus programs and trading contests.

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