Table of Contents
Exness Review & Rating
About Exness
Exness is a forex broker established in 2008, the broker operates legally in more than 130 countries, fully complying with local laws in all jurisdictions and regulated in multiple jurisdictions by FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSC (Mauritius), FSA-S (Seychelles), BVI FSC, CBCS (Curaçao and Sint Maarten), and FSA (Seychelles).
✔️Overall Rating
2/5
💲Minimum Deposit
$10
💻Trading platform
MetaTrader 4
MetaTrader 5
Exness Trade App
Exness Terminal
WebTerminal
Mobile
🏟️Regulation
FSA – Seychelles
CySEC – Cyprus
FCA – UK
FSCA – SA
CBCS – Maarten
FSC – BVI
FSC – Mauritius
CMA – Kenya
🤑Bonus for deposit
No
The company’s monthly trading turnover totals $325.8 billion USD. The broker currently has CFDs available for cryptocurrency, stocks, more than 120 currency pairs, energy, and metals. Exness’s service provides favorable working conditions for traders: low commission, instant execution of orders, and withdrawal of funds.
Exness offers popular MT4 and MT5 trading platforms available for desktop and mobile devices as well as web traders.
It is important to note that this broker is not authorized to open accounts for residents of several countries, including the United States, the United Kingdom, and the European Union. The reasons for this restriction will be discussed in detail in this review.
Exness Features
| Broker | Exness |
| Regulation | FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSC (Mauritius), FSA-S (Seychelles), BVI FSC, CBCS (Curaçao and Sint Maarten), and FSA (Seychelles). |
| Countries Not Accepted | Exness is prohibited in the United States of America, American insular areas (American Samoa, Baker Island, Guam, Howland Island, Kingman Reef, Northern Mariana Islands, Midway Islands, Wake Island, Palmyra Atoll, Jarvis Island, Johnston Atoll, Navassa Island, United States Minor Outlying Islands), Vatican City, Puerto Rico, Marshall Islands, and the U.S. Virgin Islands. Exness also does not accept residents of the following countries: New Zealand, Canada, Australia, Vanuatu, Seychelles, Russia, Israel, Iraq, Syria, Yemen, Palestinian Territory, Iran, North Korea, Malaysia, all EU countries, Gibraltar, Curacao, the United Kingdom and others. If you’re a national of these countries, you can still trade with Exness provided that you live in a permitted country. |
| Islamic Account | No |
| Demo Account | Yes |
| MAM and PAMM managed accounts | No |
| Max Leverage | Standard Standard Cent Pro Zero and Raw Spread. Account registered in Muslim countries |
| Currency Base | AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR |
| Spread | Standard, Standard Cent – from 0.3 pips Pro – from 0.1 pips Raw spread, Zero – from 0 pips Standard Plus – from 1 pip |
| Instruments | 107 currency pairs + gold and silver + energies +10 indices + 26 cryptocurrencies + stocks |
| Minimum Volume | 0.01 |
| Maximum Volume | 200 lots |
| Hedging/EA/Scalping | Allowed |
| Swap | Standard Standard Cent Pro Zero and Raw Spread. Account registered in Muslim countries |
| Trading Platform | Exness Trade app Exness Terminal MetaTrader 5 MetaTrader 4 MetaTrader WebTerminal MetaTrader mobile |
| Deposit Methods | Online Bank Transfer, Tether (USDT TRC20), Tether (USDT ERC20), Bank Card, BinancePay, Bitcoin (BTC), Neteller, Perfect Money, Skrill, SticPay, USD Coin (USDC ERC20), USD Coin (USDC TRC20) |
| Withdrawal Methods | Online Bank Transfer, Tether (USDT TRC20), Tether (USDT ERC20), BinancePay, Bitcoin (BTC), Neteller, Perfect Money, Skrill, SticPay, USD Coin (USDC ERC20), USD Coin (USDC TRC20), Mybux |
Exness Pros and Cons
| Pros | Cons |
|---|---|
| – Unlimited leverage is gambling – Off quotes issues during volatility, you are unable to close existing trades and open new orders. – No Bonuses/Promos – Several Countries are not Permitted – No multi-currency accounts – Conditions are different based on entities | – Unlimited leverage is gambling – Off quotes issues during volatility, you are unable to close existing trades and open new orders. – No Bonuses/Promos – Several Countries are not Permitted – No multi-currency accounts – Conditions are different based on the entity – Only well-regulated in the EU/UK |
Off-Quotes Investigation
Exness offers two types of accounts, the Pro and the Raw Spread account. Despite paying a commission for good spread access, traders still encounter off-quote issues. This is surprising, as one would expect that paying a commission guarantees seamless execution. Exness claims to have already traded 4437 billion in volume in 2023, which should have enabled the broker to access market liquidity. Therefore, it does not make sense that traders face off-quote problems when opening or closing trades. This issue only serves to benefit the broker.
We decided to trade a live account of $748 with Exness and opened two hedging trades, each with 4.0 lots. During the release of news, we experienced an off-quote problem where we were unable to open or close a trade. However, we were able to transfer the balance of $514.50 from the account during this period, leaving the trading account with zero balance. It was strange to note that despite the trading account showing a zero balance, the two trades we opened were still running. We tried closing the trades and set stop loss but received an error message stating “off-quote”.
We reached out to Exness for an explanation, and below is their response.
Conclusion
Do not let the unlimited leverage function this broker has fooled you, there are a lot of issues wrong underneath. This function has several drawbacks, especially during times of volatility; the broker may prevent traders from opening, or closing trades or setting a stop loss by quoting “off-quote”. This can force traders to remain in a trade or prevent them from opening a new one. If a trader does not have a stop loss set during this period, and the market moves against them, they can lose their funds.
Exness Broker is not allowed to operate in several countries including in the European Union & United Kingdom which is a red flag on its own. There are several issues that might be the reason for this, some of which are unlimited leverage, off-quote issues, and probably trade manipulations
It’s worth noting that although the unlimited leverage function is available for traders with less than $1000 in their trading accounts, it’s still considered to be gambling. This is because going all in or YOLO is a form of gambling and it only benefits the broker.
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Exness YouTube Channel and Webinar Resources
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