Exness is a brokerage company founded in 2008 by a group of similar-minded experts in the area of investment and information technology, according to the official web-page. Since 2008 it gained momentum in the market and now has around 60000 clients worldwide.
Forex users choose Exness Broker because it's being heavily monitored by regulatory authorities and it works in line with the financial legislation of numerous jurisdictions. It operates under the licenses of: FCA(Financial Conduct Authority and CySEC (Cyprus Securities and Exchange Commission)
Exness continuously grows taking market shares from other top Forex brokers due to the sponsorship from WWF Russia and Real Madrid C.F. The platform itself provides sleek and secure trading supported by MT4 and MT5, offering advantageous trading conditions like ECN accounts and the lowest spread. In addition to that 15 languages are available with 24/5 11 languages client-support and 24/7 for English and Chinese.
Strengths and weaknesses
Pros:
- Negative Balance Protection - in cases of traders closing in a negative balance while using leverage the accounts reset to zero. Clients aren't forced to buy out the negative balance.
- Low minimum account balance and tight spreads - the spreads begin with 0 pips and the average varies from 0.1 to 1.3 on Mini and Classic accounts.
- Fast transactions - all the deposits and withdrawals from and to any type of bank accounts or e-wallets processed instantly by Exness 24/7.
- Compliant Leverage - all the holders of Exness trader account can leverage their money to achieve major profits.
- News directly from Dow Jones - state-of-art trading news streamed into Exness. The analytical articles are also available for members.
Cons:
- Other Forex brokers offer more financial tools.
- ESMA restrictions won't allow leverage greater than 1:30 for European residents.
How to know that Exness is just for you?
The Exness is greatly appreciated by traders who understand the importance of financial regulations and a great degree of protection it brings to the table. The FCA is obliged to pay the traders in case of Esness insolvency, in a decade of Exness working it hasn't happened once.
Moreover, the Exness lacks the predatory practices many other brokers happily accept- you can start trading with a $1 deposit and the withdrawal fee is about 0.0001 there.
There're several types of accounts available: CENT, MINI, CLASSIC, ECN.
Trading platforms available: MetaTrader4, MetaTrader 5, MT4 WebTerminal.
User experience
The sign-up is very simple, the client should just verify the Identity and banking information to start trading. The platform can be launched directly in your browser. Alternatively, just download it for the MT4 or MT5.
If you worked with MetaTrader4 you'll recognize many familiar features in Exness and won't have any issues getting used to it.
The set of windows is the same for the MT4 app and in the browser version.
Exness broker has the mobile app in addition to the aforementioned methods. The interface is simpler there, but a beginner can appreciate the simplicity.
Pricing policy
The structure of Esxness is extremely simple when it comes to fees and balance.
The classic account, for instance, requires $2000- which gives you zero commissions with 0.1 spreads.
Mini account as the counterpart only requires a $1 deposit but spreads start from 0.3 and fewer tools to your disposal.
There're options in between, of course.
Conclusion
Exness Forex broker is a great option both for beginners and mature traders with flexible pricing and rock-solid security.