Exness Review 2024: Pros, Cons, and More!

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Exness is a forex and CFD broker that offers online trading services. The broker is reputed for its instant fund withdrawal, ultra-fast order execution, and unlimited leverage. Exness has more than 80,000 active traders worldwide.  The broker is regulated by top regulatory authorities, including CySEC, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI). The broker offers over 200+ Trading Instruments including Forex, CFDs, Cryptocurrencies, Stocks CFDs, Commodity CFDs

Though Exness is a regulated forex and CFD broker, it has its own strengths and weaknesses. For example, its FCA and CySEC licenses are just for b2b purposes, and they do not accept retail clients of the EU and UK under these licenses. In this review, we will take an in-depth look at Exness, exploring its features, advantages, and disadvantages. By the end of this article, you will have a better understanding of whether Exness is the right broker for your trading needs.

Exness Overview:

Exness has established itself as a prominent player in the forex market. With a global presence and a diverse clientele, it offers traders low-commission and high-leverage trading facilities. The broker is renowned for its competitive spreads, lightning-fast execution, and cutting-edge technology that empowers traders to make informed decisions.

Exness Overview

Exness Overview
  • Founded In: 2008
  • Founder:Petr Valov, Igor Lychagov
  • Trading Instruments: 200+ Trading Instruments including Forex, CFDs, Cryptocurrencies, Stocks CFDs, Commodity CFDs
  • Minimum Deposit: as low as $1 for standard accounts, $200 for Pro, Raw Spread, and Zero accounts.
  • Maximum Leverage: 1:Unlimited (condition apply)  or 1:2000 for FCS, CFCS, 1:30 for ASIC, CySEC jurisdiction, 1:400 for CMA Jurisdiction
  • Regulations: FCA, CySEC, CMA, CBCS, FSCA, (FSC) in BVI, (FSC) in BVI Mauritius, FSA in Seychelles
  • Trading platform: MT4, MT5, MetaTrader WebTerminal, MetaTrader Mobile,  Exness Trade App, Exness Terminal
  • Account Types: Standard, Pro, Raw Spread, Zero
  • Payment Options: VISA, MasterCard, AstroPay, Bitcoin, Boleto, CASHU, FasaPay, Local Bank Deposits, Local Bank Transfers, Neosurf, Neteller, Oxxo, PerfectMoney, Skrill, Tether (USDT), WebMoney
  • Funding Currencies : 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,
  • US Traders: Not Accepted

Exness Pros and Cons:

Pros
  • Top tire regulations ( FCA, CySEC, FSC, FSA-S SBCS, FSCA, BVI FSC, and so on. 
  • The maximum leverage is as high as 1:unlimited or 1:2000
  • The minimum deposit is as low as $1 or depends on payment methods
  • Free VPS hosting; to qualify, you need to trade for a minimum of 14 days and lifetime deposits of $500;
  • Competitive spreads starting from 0.2 pips on standard accounts
  • Swap-Free/Islamic Account Provided
  • Scalping, EA Trading, and Copy Trading are allowed 
  • Instant Withdrawal of Money 24/7
Cons
  •  No Passive investment programme ( PAMM, MAM Accounts) 
  •   No Ctrader, Tradingview, zulutrade offered 
  •  US Traders are not accepted 
  •  Only MT4 and MT5 Trading Platforms 
  • Limited educational resources

Exness Ratings:

Based on our extensive research and methodology, our expert team has rated Exness an impressive 9.1 out of 10. We consider several factors to arrive at this rating, including regulations and safety, deposit and withdrawal processes, spreads and commissions, leverage and margin options, trading platforms and tools, market and product offerings, educational resources, customer support, and reputation through customer reviews.

9.1
Exness Scores
Regulation and Security (40%)9.3
Fees and Commissions (20%)9.5
Trading (15%)8
Trading tools (10%)9
Customer Support (10%)9
Trading Education (5%)9

Regulation and Safety:

Exness is a regulated forex and CFD broker. The broker is regulated by two tier-1 jurisdictions, one tier-2 jurisdiction, and four Tier-4 jurisdictions, including FCA, CySEC, CMA, FSC (Mauritius), and FSC (BVI)

This regulation ensures that the broker must follow certain rules set by the authority to keep things fair and safe for traders. Exness holds client funds in segregated bank accounts. The broker does not use client money for hedging trades with other counterparties. Here are the Exness entities and regulators 

  • Exness (SC) LTD (Global): Regulated by FSA in Seychelles 
  • Exness B.V: Regulated by CFCS in Curacao
  • Exness (VG): Regulated by FSC in BVI 
  • Exness ZA (PTY): Regulated by FSCA
  • Exness(CY) Ltd: Regulated by SySEC
  • Exness (MU): Regulated by FSC in Mauritius 
  • Exness (KE) Limited (Formerly Tradenex Limited: Regulated by CMA
  • Exness (UK) Limited: Regulated by FCA in the UK  

Deposit and Withdrawal:

Exness strives to provide convenient and hassle-free deposit and withdrawal options. The broker does not charge any fees for deposits and withdrawals. The minimum and maximum deposit depends on account types and payment methods. For example, the standard account does not have any minimum deposit, the minimum deposit of this account depends on the payment methods you use. The maximum deposit ranges from $10,000 to $10,000,000. Here are the deposit methods and withdrawal methods of Exness. 

  • Visa/ Mastercard: ($10 to $10,000) or equivalent
  • Neteller: ($10 to $50,000) or equivalent
  • Skrill: ($10 to 50,000) or equivalent
  • Wire Transfer: no limit
  • BTC: $10 to $10,000,000 
  • Perfect Money: $10 to $10,0000
  • SticPay: $10 to $10,000
  • Binance Pay: $10 to $20,000
  • Tether (USDT TRC20): $10 to $10,000,000
  • Tether (USDT ERC20): $10 to $10,000,000
  • USD Coin (USDC ERC20): $10 to $10,000,000

Account Currencies: 

When you create a trading account with Exness, you select an account currency. This is the currency in which you will maintain your funds for that specific account. You can choose from the following currencies:

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.

Note: We recommend creating accounts in USD, EUR, or JPY to avoid any conversion charges, as you can deposit and withdraw using these three currencies

Leverage and Margin:

Exness offers leverage based on account types and the jurisdiction in which you trade. For example, Qatar falls under the FSA Jurisdiction. The maximum leverage provided by Exness is  1:unlimited. Here are the maximum leverage options offered by Exness in different jurisdictions:

  • CySEC Jurisdiction: Between 2:1 and 30:1 
  • ASIC Jurisdiction: Between 2:1 and 30:1
  • FSA Jurisdiction: Between 1:1 and  Unlimited (Condition apply) or 2000:1 
  • CMA Jurisdiction: up to 400:1 
  • CBCS Jurisdiction: Between 1:1 and 1:unlimited ( condition apply) or 2000:1 
  • FSC (BVI) Jurisdiction: Between 1:1 and 1:unlimited (Condition Apply) or 2000:1 

Note: Exness accepts clients only in 4 jurisdictions including CMA (Exness (KE), FSA Seychelles (E​xness (SC) LTD), CBCS (Exness B.V.), and FSC in BVI. 

The margin call level is set at (30 to 60)% depending on account types. In the event of a margin call, equity is calculated as the sum of the balance and open profit/loss. The stop-out level of Exness is at (0)% 

  • Standard Cent Account: Margin Call (60%): Stop Out (0%) 
  • Standard Account: Margin Call (60%): Stop Out (0%) 
  • Pro  Account: Margin Call (30%): Stop Out (0%) 
  • Zero Account: Margin Call (30%): Stop Out (0%) 
  • Raw Spread Account: Margin Call (30%): Stop Out (0%) 

Note: stop out for Kenyan clients through Exness (KE) is 20% and mid-price Stop Out Protection is not supported.

Exness Fees:

Exness offers competitive fee structures based on the selected account type. Spread levels may vary depending on the chosen account. The spread starts as low as 0.0 pips. Here are the spreads and commissions for Exness:

  • Standard Account: Starting from 0.2 pips
  • Standard Cent Account: Starting from 0.3 pips
  • Pro Accounts: Starting from 0.1 pips
  • Raw Spread Account: Commission up to $3.5 per lot per side
  • Zero Account: Commission starting from 0.05 per lot per side

Note: Spreads and commissions may vary depending on the assets you trade

Trading Options and Facilities:

Exness provides traders with extensive options and facilities to enhance their trading strategies. Traders can engage in scalping, and hedging, and use expert advisors. The broker supports stop and limit orders. Additionally, Exness accommodates the use of trading robots or EAs.

  • Scalping: Allowed
  • Hedging: Allowed
  • EA Trading: Allowed
  • Hedging: Allowed

Platforms and Trading Tools:

Exness offers traders with its support for both the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms offer advanced features, intuitive interfaces, and extensive customization options. Traders can access Exness’ services on various devices, including Windows, Mac, Linux, and web platforms. Exness platforms and trading tools include 

  • MetaTrader 5
  • MetaTrader 4
  • Exness Trade app
  • MetaTrader 5 mobile
  • MetaTrader 4 mobile
  • Exness Terminal
  • MetaTrader WebTerminal

Market and Products:

Exness offers a diverse range of trading instruments, providing traders with ample opportunities across different markets. Traders can access 95  forex CFD pairs, 10 indices CFDs, 7 commodities CFDs, 130+ stock CFDs, and 26 cryptocurrencies CFDs. This wide selection ensures traders can build a diversified portfolio tailored to their trading strategies and preferences. However, Exness does not offer bonds or future CFDs.

Education and Research:

While Exness excels in many areas, its educational resources seem to be limited. The broker does not provide trading platform tutorials, educational videos, or webinars, which could be a disadvantage for traders seeking educational support and guidance. Traders who rely heavily on educational resources may need to supplement their learning through external sources.

Customer Support:

Exness prides itself on providing responsive and multilingual customer support. Traders can access live support, email support, and phone support 24 hours a day. The customer support team is well-versed in languages such as English, Arabic, Bengali, Vietnamese, Indonesian, Chinese, Malay, Persian, Russian, Thai, and Hindi. Additionally, Exness assigns personal account managers to assist traders with their specific needs.

Reputation and Review:

Exness has earned a favorable reputation among traders. On Trust Pilot, a reputable review platform, Exness maintains a verified profile and an impressive rating of 4.7 out of 5. However, it’s worth noting that reviews found online can sometimes be misleading, as they may be biased or paid. Traders should exercise caution and carefully analyze reviews to differentiate genuine feedback from potentially fake or manipulated ones.

Exness Account Types Review:

 Exness offers account types considering the different trading styles and experience levels.

  • Exness Demo Account: Ideal for beginners, the demo account allows traders to practice their strategies in a risk-free environment using virtual funds.
  • Exness Standard Account: Designed for regular traders, the standard account provides access to a wide range of trading instruments with competitive spreads.
  • Exness Raw Spread Account: For traders seeking raw spreads with low commissions, the raw spread account offers tight pricing and fast execution.
  • Exness Zero Account: specialize in market execution orders that offer zero spread for the top 30 trading instruments during 95% of the day
  • Exness Islamic Account: Compliant with Islamic finance principles, the Islamic account eliminates interest charges while facilitating ethical trading.
  • Exness Professional Account: Targeted at experienced and high-volume traders, the professional account provides additional benefits and features to suit their demanding requirements.

Exness Account Opening Review:

Opening an account with Exness is a seamless process that ensures quick access to the forex market.

  1. Account Opening Time: Instant. Account Verification: Typically completed within a few hours to a couple of days. 
  1. Documents Required: Valid identity document (e.g., Passport, ID Card) and proof of residence document (e.g., Bank statement, utility bills), all under the account holder’s name.

To know the detailed steps on how to open a trading account with Exness, you can refer to our comprehensive guide on our website.

A List of Exness Alternatives:

Exness is one of the most reputed and regulated forex brokers. However, other brokers can serve as alternatives to Exness. These alternatives include 

  1. IC Markets: Known for its low spreads and extensive range of trading platforms.
  2. XM: Offers competitive trading conditions, including tight spreads and a wide selection of tradable assets.
  3. FXTM: Provides a wide range of trading tools and educational resources, serving traders of all levels.
  4. FBS: Offers flexible trading conditions, including low minimum deposit requirements and various account types.
  5. Hotforex: Known for its diverse range of account types, competitive trading conditions, and excellent customer support.

Frequently Asked Questions ( FAQs)

What is Exness?

Founded in 2009, Exness is a forex and CFD broker that offers trading services to traders and investors. Exness offers a wide range of trading instruments including Forex Commodities, Indices, Stocks, and Cryptocurrencies. The maximum leverage of Exness is as high as Unlimited:1 (condition apply) or 2000:1. 

Is Exness a Good Broker?

Exness is widely recognized as a reputable broker in the forex trading industry. With over a decade of experience, Exness has established a strong presence and garnered a positive reputation among traders. The broker offers competitive trading conditions, a wide range of trading instruments, advanced trading platforms, and excellent customer support. Their commitment to transparency, security, and innovation makes Exness a good choice for both beginner and experienced traders.

Is Exness an ECN Broker?

Yes, Exness is an ECN (Electronic Communication Network) broker. As an ECN broker, Exness provides direct access to interbank liquidity and allows traders to trade directly with other market participants. This ensures fast execution, tight spreads, and transparent pricing. By eliminating the need for a middleman, Exness offers a more efficient trading environment, especially for those looking for direct market access and fair trading conditions.

Is Exness regulated?

Answer: Yes, Exness is regulated by reputable financial authorities. The broker operates under the supervision of multiple regulatory bodies, including the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. These regulatory authorities enforce strict guidelines and monitor Exness’s operations to ensure compliance with industry standards, safeguarding the interests of traders and providing them with a secure trading environment.

Is Exness insured?

Exness takes the security of its clients’ funds seriously. While they do not explicitly mention insurance on their website, they employ various measures to protect clients’ funds. These include the segregation of client funds into separate accounts, implementing advanced security protocols, and partnering with reputable banks. Additionally, being regulated by respected financial authorities ensures that Exness adheres to stringent financial standards, further enhancing the safety of traders’ funds.

Is Exness legit or safe?

Exness is a legitimate and safe broker to trade with. The broker has been operating in the forex market for many years and has earned a solid reputation among traders. With multiple regulatory licenses, including, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI), Exness is committed to upholding industry standards, ensuring fair trading conditions and the safety of clients’ funds. 

How long does it take to get a withdrawal from Exness?

Exness withdrawals are almost instant. The withdrawal TAT depends on the payment methods you use. For example, BinancePay may take up to 30 minutes, while USDT may take a day to process

Does Exness have any withdrawal fee?

Exness does not charge any deposit and withdrawal fees However, it is essential to note that third-party payment providers or intermediary banks may impose their own transaction fees, which are beyond Exness’s control. Traders should review the terms and conditions of their chosen withdrawal method to understand if any fees apply.

Is Exness suitable for scalping?

Yes, Exness is well-suited for scalping trading strategies. With their advanced trading platforms and low spreads, Exness provides favorable conditions for traders who aim to make quick trades and capture small price movements. The broker’s fast execution speeds and access to deep liquidity allow scalpers to enter and exit trades swiftly. Additionally, Exness does not impose any restrictions on scalping strategies, making it a suitable choice for traders who employ this particular trading technique.

Is Exness good for beginners?

Yes, Exness is a good choice for beginners in forex trading. The broker offers user-friendly trading platforms, comprehensive educational resources, and a supportive customer service team, which can be valuable for those who are new to the market. Exness also provides a low minimum deposit requirement, allowing beginners to start with smaller trading capital. Moreover, the broker’s commitment to transparency and regulation instills confidence in beginners, providing a secure and reliable trading environment.

What is the minimum deposit of Exness?

The minimum deposit of Exness depends on the payment methods and account types you use. Here are the minimum deposits of Exness

  • Standard Account: No minimum deposit. ( The minimum deposit depends on depending on the payment methods you use) .
  • Pro Account: $200
  • Zero Account: $200
  • Raw Spread Account: $200

Does Exness offer mobile trading?

Yes, Exness offers mobile trading capabilities. Traders can access their Exness accounts and trade on the go using the Exness mobile trading app, which is available for both iOS and Android devices. The mobile app provides a user-friendly interface, real-time market quotes, interactive charts, and essential trading tools. With mobile trading, traders have the flexibility to monitor the markets, place trades, and manage their accounts conveniently from their smartphones or tablets.

Does Exness have negative balance protection?

Answer: Yes, Exness has implemented negative balance protection for its clients. This feature ensures that traders cannot lose more than their account balance, even during highly volatile market conditions. In the event of extreme price movements that could lead to a negative account balance, Exness’s negative balance protection mechanism will automatically reset the balance to zero. This provides an additional layer of risk management and helps protect traders from excessive losses.

Does Exness accept US clients?

No, Exness does not accept US clients. Due to regulatory restrictions and compliance requirements, Exness does not provide its services to residents or citizens of the United States. Exness also does not accept retail clients from the EU, the UK, and from other regions 

Final Verdict:

Exness offers a comprehensive range of features and services, making it a noteworthy choice for forex traders. With its strong regulatory framework, convenient deposit and withdrawal options, competitive spreads, and high leverage ratios, Exness provides traders with a platform to explore various trading strategies.

Exness deposits and withdrawals are almost instant. This feature makes it unique among traders. However, the broker does not accept EU or UK clients, as they use FCA and CySEC licenses only for B2B purposes and not for onboarding retail clients.

So, if you want a low spread, low minimum deposit forex broker that offers excellent customer support, you may choose XM. However, if you are a trader living in the EU or UK, you may choose other brokers like Pepperstone, IC Markets, AXI, etc

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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