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What is ExnessExness?
Exness is the brand name of the global brokerage firm that delivers its services through two main offices in Seychelles and is a Cyprus Broker. The divided nature of the firm enables worldwide clients to enjoy tailor financial service and investment solutions, while the global brand delivers vast opportunities to the retail and mainly corporate solutions or partnerships.
The EU based company in Cyprus performs fully regulated services to the members within EEA and world. Moreover, the broker also expanded its global reach and established a UK-based entity Exness UK Ltd which is also respectively and fully regulated.
Actually, Exness has won numerous awards as a retail broker as it offers stable and reliable brokerage services with the comfortable trading environment created to suit the most demanding traders with their tight spreads and no hidden commissions from 0.1 pips. The trading process is delivered by the intuitive platform MT4 with a possibility to trade a number of CFDs and Futures on a range of markets.
Exness Pros and Cons
Exness provides good trading environemtn and is authorized by reoutable authority like FSCA, the mainstay on MetaTrader technology provides good research, education and analysis.
On the negative side the are some limitations in product offering with trading instruments Forex and CFDs, also there is no multi-currency accounts and proposal is different in each jurisdiction.
10 Points Summary
Awards
Along with its history of operation, Exness has been awarded and recognized many times including different aspects like Customer satisfaction, trading technology and overall rankings recognizing its success.
Moreover, the Exness takes an active role in social life, as well as acting as an honored sponsorship partner with various organizations. Currently, Exness proudly sponsors the world’s number one football team, Real Madrid, and the best football player alive, Cristiano Ronaldo.
Is Exness safe or a scam
No, Exness is not a scam it operates under relevant country’s legal requirements authorized by FSCA South Africa providing low risk Forex and CFDs.
Is Exness legit?
Exness Group due to its presence in various countries and established offices regulated by necessary local authorities that also highly respected within the industry. Exness UK Ltd is authorized and regulated by the Financial Conduct Authority, while Exness CY Ltd holds a license from CySEC.
Thus, the broker permitted to provide financial products or services within its activity in above mentioned countries and in other countries in the EEA. Also, there is a license from an offshore Seychelles, which rather provides just registration than serious regulation, yet additional licenses from reputable authorities make things and Exness offers reliable.
How are you protected?
Therefore, and due to operational standards that are set according to the requirements along with the customer protection, money segregation and participation in investor compensation fund or scheme. The EEA registration and the provision of services on a cross-border basis performed by authorization from cross authorities within Europe that makes Exness operation standards highly reasonable ones.
Leverage
As the majority of Forex brokers, Exness also offers to use leverage, which may increase potential gains through its possibility to multiple initial accounts balance.
Leverage levels always depending on the instrument you trade, as well defined by the regulatory restrictions and your personal level of proficiency.
Since FCA and CySEC along with its European directive miFID significantly lowered the possibility for leverage levels, the maximum leverage you may use as a retail trader is
- 1:30 for major currencies,
- 1:20 for minor ones
- 1:10 for commodities.
Yet, a global entity of Exness may allow much higher leverage ratios up to 1:1000, which are also defined by the country of your origin.
And of course, always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments.
Account types
The accounts available with more than 80 currency options while the company features instant payment options and offers Standard Cent Account which is great for traders of smaller size, Standard Account and Professional ECN Account with raw spread offering and commission charge per trade.
At Exness you can expect a fully-regulated and safe trading environment that allows to either open a demo account and test trading strategies or to open a live account to enter forex markets. The traders of world jurisdictions may be subjected to different account offerings that range according to regulation and compliance.
Forex Contest
Moreover, there are additional features that enable the Exness customers that bring the possibility to compete and gain valuable prizes in the Forex trading Contest that performed from time to time. However, the traders’ residents of particular countries should check the availability and the possibility to engage on the official website.
How to open account
Fees
Exness pricing is good, there are low spreads or commission for ECN account, also there is no funding fees, but be sure to check the inactivity fee. See fee table below.
Spreads
Exness spread is based on tight variable spreads, which is defined by the account type as well. Standard Cent Account Spreads are starting from 0.3 pips with no commission on trading volume which means all trades are calculated in cents, the Standard account costs based on tight spreads from 0.1 pips.
And Professional ECN account features raw spread plus the commission per trade. See some of the examples below for a better understanding of Exness costs and comparison with other brokers, as well compare fees to another broker FBS.
Rollover
Also, always consider Exness rollover or overnight fee as a cost, which is charged on the positions held longer than a day. Each instrument charges a different quote for overnight positions, which may be as a fee or a refund, see sample on some of the instruments above.
