exness

Overview of exness

Exness is a virtual currency exchange company based in Cyprus. It was founded in 2008 and is regulated by the Cyprus Securities and Exchange Commission (CySEC). Exness offers a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. With a maximum leverage of 1:2000, traders have the potential to amplify their trading positions. The company provides trading platforms such as MetaTrader 4 and MetaTrader 5, which are widely recognized and user-friendly.

Deposits and withdrawals can be made through various channels, including bank transfers, credit/debit cards, and online payment systems. Exness also offers educational resources such as video tutorials, webinars, and online courses to assist traders in their learning journey. Customer support is available through email, live chat, and phone channels. Overall, Exness provides a comprehensive and accessible platform for individuals interested in virtual currency exchange.

Pros and cons

Pros:

• Variety of Trading Instruments: Exness offers a wide range of trading instruments including forex, commodities, indices, and cryptocurrencies. This gives traders plenty of options to choose from.

• Multiple Account Types: Exness offers different types of accounts to cater to the needs of different traders, from beginners to professionals. This includes mini accounts with a low minimum deposit, as well as professional ECN accounts.

• User-friendly Interface: Exness offers a user-friendly trading platform that is suitable for both beginners and experienced traders. They also offer the popular MetaTrader 4 and MetaTrader 5 platforms.

• No Deposit Fees: Exness does not charge any fees for deposits, which can help reduce the overall cost of trading for some traders.

Cons:

• Beyond regulatory boundaries: While Exness is regulated by some financial authorities, there are regions where it is not regulated, which could be a concern for traders in those areas.

• High Leverage: While Exness offers high leverage, which can be an advantage for experienced traders, it can also be a significant risk for beginners or those with less experience. High leverage can lead to large losses as well as large gains.

• Variable spreads: Spreads can be quite variable and might be higher compared to other brokers. This can increase trading costs for some traders.

• Untimely customer support: Some users have reported that the customer support of Exness is not as responsive as they would like. This can be a disadvantage if you need immediate assistance.

Pros	Cons
Variety of Trading Instruments	Beyond regulatory boundaries
Multiple Account Types	High Leverage
User-friendly Interface	Variable spreads
No Deposit Fees	Untimely customer support

Regulatory Authority

The regulatory situation of the exchange is governed by the Seychelles Financial Services Authority (FSA). However, the regulation number of the exchange has not been released. Also, it is important to note that the exchange has exceeded the regulation requirements of the FSA. The exchange operates under a Common Financial Service License, specifically held by Nymstar Limited.



Security

Exness prioritizes the security of its users and implements various protection measures.

• Segregation of Funds: Client funds are kept in separate bank accounts from the company's own funds. This ensures that client funds are not used by the broker for its own operational purposes.

• SSL Encryption: The Exness website and trading platforms use SSL (Secure Socket Layer) encryption to ensure that all data transmitted between the client and the broker is fully encrypted and secure.

• Two-Factor Authentication: Exness offers two-factor authentication (2FA) for client accounts. This adds an extra layer of security as it requires not only a password and username but also something that only the user has on them, i.e., a piece of information only they should know or have immediately at hand - such as a physical device.

• Risk Management Tools: Exness provides various risk management tools such as stop-loss and take-profit orders to help traders manage their risks effectively.

It is always recommended that traders also take personal safety measures, such as using strong and unique passwords, activating two-factor authentication, and keeping their devices secure.

Cryptocurrencies available

Exness offers a selection of popular cryptocurrencies for trading on their platform. This includes major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Trading in cryptocurrencies has become increasingly popular, as it allows traders to take advantage of the high volatility and potential for significant returns in the cryptocurrency market. Exness provides a user-friendly and secure platform for trading in these digital currencies, making it easier for both beginners and experienced traders to participate in the cryptocurrency market.

In addition to the major cryptocurrencies, Exness also offers trading in a range of other digital currencies. This includes popular options like Bitcoin Cash (BCH), Ethereum Classic (ETC), and Dash (DASH), among others. Offering a wide variety of cryptocurrencies provides traders with the opportunity to diversify their portfolio and take advantage of the different market dynamics of each digital currency. As with all trading, it's important to be aware of the risks involved in trading cryptocurrencies and to have a well-thought-out trading strategy.



How to open an account？

The registration process on Exness is straightforward and can be completed in just a few simple steps.

1. To begin, visit the Exness website and click on the “Sign in” button. This will redirect you to the registration page.

2. On the registration page, you will need to provide your email address and create a secure password for your account.

3. After filling in your basic information, you will be prompted to provide your personal details, including your full name and date of birth.

4. Next, you will need to select your country of residence from a dropdown menu and provide your contact information, such as your phone number and address.

5. Once you have completed the personal details section, you will need to verify your identity by submitting a valid identification document, such as a passport or driver's license.

6. Finally, review the terms and conditions of Exness, and if you agree, click on the “Open Account” button to complete the registration process. You will receive a confirmation email with further instructions on how to access your Exness account.



Fees

Exness has a commission-free cost structure that is slightly above average, but its commission-based alternative is very competitive. For equity CFD traders, Exness offers low commissions and narrow swap spreads, and there is also the option for swap-free trading on certain assets, which enhances its cost-effectiveness. As a result, Exness is suitable for a range of trading strategies, from short-term approaches like scalping to medium-to-long-term leveraged strategies.

The average trading costs for the EUR/USD at Exness are:

Average Spread	Commission per Round Lot	Cost per 1.0 Standard Lot
1.0 pips (Standard)	$0.00	$10.00
0.0 pips (Raw Spread)	$7.00	$7.00
0.0 pips (Zero)	$7.00	$7.00
0.6 pips (Pro)	$0.00	$6.00

Taking a 1.0 standard lot buy/sell position, in the EUR/USD, at the average spread and holding it for one night will cost the following:

Average Spread	Commission per Round Lot	Swap Long	Swap Short	Total TradingCosts
0.6 pips	$0.00	-$7.69	X	$13.69
0.6 pips	$0.00	X	$0.00	$6.00

Taking a 1.0 standard lot buy/sell position, in the EUR/USD, at the average spread and holding it for seven nights will cost the following:

Average Spread	Commission per Round Lot	Swap Long	Swap Short	Total TradingCosts
0.6 pips	$0.00	-$53.83	X	$59.83
0.6 pips	$0.00	X	$0.00	$6.00

Deposit & Withdrawal

Exness does not levy internal deposit or withdrawal fees and processes most withdrawal requests to e-wallets within seconds, but it may take up to 24 hours. Bank wires can take up to three business days, and credit/debit card withdrawals up to five days. The name on the payment processor and the Exness account must match, and if traders use multiple payment processors to deposit, they must withdraw in equal proportions.

For example, making a $700 deposit via debit card and $300 via Skrill means a trader must withdraw 70% of profits via the same debit card and 30% via Skrill. Exness will highlight recommended payment processors, identifying the best methods filtered by the geographic location of traders and withdrawal experience by Exness.

Customer Support

Exness offers several ways for customers to get in touch with their support team. Their website is available in different languages, including English and Russian, and they are also active on social media platforms like Twitter and Facebook. For direct communication, customers can email them at support@exness.com or b2bsupport@exness.com. Additionally, phone support is available at +44 20 3885 3911. This range of contact options reflects Exness's dedication to being accessible and responsive to its clients.



Is exness a Good Exchange for You？

Exness is a versatile virtual currency exchange that caters to a wide range of traders with different trading preferences and experience levels.

Exness caters to a diverse range of traders, including:

• Day Traders: These are individuals who buy and sell financial instruments within the same trading day. Exness offers competitive spreads and commissions, as well as a user-friendly trading platform, making it an attractive option for day traders.

• Scalpers: Scalpers are traders who make a large number of small trades throughout the day, aiming to profit from tiny movements in asset prices. Exness's low trading costs and fast execution times make it a suitable choice for scalpers.

• Long-Term Investors: These are individuals or institutions that buy and hold assets for an extended period, usually several months or years. Exness offers a wide range of trading instruments and a stable trading platform, making it a good option for long-term investors. Additionally, the availability of swap-free accounts makes it attractive for those who prefer to hold positions for an extended period without incurring swap fees.

It is important to note that while Exness provides features that may be suitable for these target groups, traders should carefully assess their own trading goals, risk tolerance, and preferences before engaging in any trading activities. Conducting thorough research and considering individual trading needs is crucial when choosing a virtual currency exchange.

User Review

User 1

I have been trading with Exness for over a year now and I must say I am quite satisfied with their services. The registration process was straightforward and I was able to start trading relatively quickly. The trading platform is user-friendly and I have never experienced any significant technical issues. The spreads are competitive and I appreciate the option to trade with a commission-based account. Additionally, the customer support has been responsive whenever I had questions or needed assistance. Overall, I would recommend Exness to both beginner and experienced traders.

User 2

My experience with Exness has been a mixed bag. While I appreciate the variety of trading instruments available and the fact that they offer multiple account types, I have found that the spreads can be quite variable and sometimes wider than I would like. Additionally, I have experienced delays in withdrawals a couple of times, which was frustrating. On the plus side, the customer service has been helpful and the educational resources available on their website are quite good. If Exness could improve on the spreads and withdrawal processing times, I think they would be top-notch brokers.

Conclusion

Exness is a well-regulated broker that offers a wide range of trading instruments and account types to cater to different trading needs. With competitive trading costs, a user-friendly trading platform, and a range of educational resources, it is suitable for both beginners and experienced traders. However, there have been reports of variable spreads and occasional delays in withdrawals, which may be areas for improvement. Overall, Exness is a reliable broker with a solid reputation, but as with any broker, it is essential for traders to be aware of all costs and potential issues before opening an account.

FAQs

Q: What is the minimum deposit for Exness？

A:The Exness minimum deposit is $10 for commission-free accounts and $200 for commission-based alternatives.

Q: Is Exness an ECN broker？

A: Exness is a market maker but offers ECN-like execution in its commission-based trading accounts.

Q:What types of accounts does Exness offer？

A:Exness offers a variety of account types including Standard, Pro, Raw Spread, and Zero accounts. They also provide Islamic (swap-free) accounts for those adhering to Islamic finance principles. Each account type has different features and cost structures to suit different trading needs.

Q:Does Exness charge any deposit or withdrawal fees？

A:Exness does not charge any fees for deposits, but there may be fees for withdrawals depending on the payment method used. It is always advisable to check the fees associated with your chosen payment method before proceeding with a transaction.

Q:What trading platforms are available at Exness？

A:Exness offers the MetaTrader 4 and MetaTrader 5 platforms, available on desktop, web, and mobile devices. They also provide their own proprietary web-based platform.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.