Key functions include opening, closing, and modifying orders, as well as deleting pending orders. Exness Trade presents essential features for managing trading accounts, trading instruments, charts with indicators, and quick access to order history and alerts. Exness entities hold licenses in the jurisdictions in which they operate. This xcritical scam helps provide clients with various safety measures, from negative balance protection and segregated client funds to limits on retail trading leverage. Minimum and maximum limits vary by the chosen method, including a $6 minimum amount for debit/credit card withdrawals.
Exness Pros and Cons
As of April 2023, Exness had 476,000 active traders, demonstrating a strong growth trajectory. Additionally, their trading volume in 2021 was over $11 trillion, and this was verified by their independent auditor, Deloitte. We thought the interface for this terminal was very clean which made it super easy for us to navigate to find information related to the trading instruments and analytical tools we wanted to research. Another feature we liked is that you can set your stop levels by price, percentage or account currency. Overall we think the accounts on offer by Exness are pretty good, providing you with the choice to select an account that aligns with your trading style. The commissions charged by Exness are also reasonable and as a result, we scored them highly for this.
Once your account is set up (it shouldn’t take long to process), you’re ready to make your first deposit (the minimum is $200) and then proceed to select the account type which works best for you. Unfortunately, Exness don’t offer PayPal, or xcritical and limits NETELLER and Skrill to Kenya which is surprising. In January 2023, Exness claimed to have 490,000 active traders, up 63% over a year. They also stated that active clients had increased by 12% from 440,000 in December 2022.
Charting, Ease of Use, and Additional Features
No Exness ban exists in the US, but it does not operate in the US, has no US license, and does not accept US-resident traders. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in xcritical website 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates.
Commission and Fees
- We also found that the buy and sell buttons have market sentiment displayed on the, which was quite cool.
- Overall, we think Exness offers reasonably competitive spreads, a good range of account options, diverse funding methods which include cryptocurrencies, and a decent education.
- While trading with some leverage when done properly can be very useful, unless you know what you are doing or can afford to lose we recommend responsible trading which means limiting the leverage you use.
- Depending on the trading strategy, it may become the most significant fee per trade.
- We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
Once your account is live, any further deposits will need to be at least $10. When selecting a broker, traders will need to weigh up which aspects are most important to them. If you’re looking for the lowest cost and a greater degree of safety, it could be worth checking some competitors. Additionally, Exness offers you details on the availability of their support teams across the globe and offers phone and email support, 24 hours, 5 days a week. Their help centre also has some pretty good information which can answer some basic questions. Minimum deposits on Exness start from $10, but you’ll initially need to deposit $200 when first opening an account.
In addition to offering the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, Exness also provides its Terminal web platform which features robust charting and order types in an otherxcritical minimalist design. Better-than-market conditions, unique features and cutting-edge security, partnered with our dedication to transparency and excellent customer service, are the reasons traders continue to choose Exness. ⁴Best spreads refers to average or max spreads offered by Exness, excluding agents’ commission for XAUUSD for the first two seconds after high-impact news, from January to May 2024, compared with five other large brokers. ¹At Exness, 95% of withdrawals are processed instantly (under 1 minute). Once your funds leave our custody, it’s up to your chosen payment provider to process the funds and credit your account.
The apps are available for free download and are compatible with iPhone (iOS) and Android (APK) devices. The full suite trading features available on the desktop platforms is accessible, including analytical tools, plus customisable charts and graphs. xcriticalg money depends 100% on traders, their understanding of the markets, their trading tools, and their ability to trade. Exness provides the necessary infrastructure to trade and maintains a cutting-edge trading environment that provides traders with a competitive edge from a trusted source. As mentioned, Exness integrates with both MetaTrader 4 and MetaTrader 5, and also offers access to the MT4 MultiTerminal which is helpful if you’re trading on multiple accounts.
While Exness offers two account types with a $10 minimum deposit, enabling trading with $10, traders should consider the viability of doing so. It requires the same effort and resources to trade $10 as $5,000, but the profit potential is notably higher. Therefore, trading with $10 is not worth the input, but technically possible.
Exness has a decent range of forex pairs to trade but it doesn’t offer any ETFs, bonds or treasuries, futures, or the option to purchase underlying shares. They also don’t offer the full range of commodities that some other brokers do, but they do have some cryptocurrency CFDs which helps offset some of the other limitations. While Exness has a range of funding options, they are missing some major providers such as PayPal, Apple Pay and xcritical. However, we notice Exness do accept cryptocurrencies which is good if you have embraced crypto payments.
Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises xcritical companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). Read our full explanation and accounting of our research and testing process to learn more about how we test. Get your orders executed in milliseconds on all available platforms at Exness.
He has a Masters and Commerce degree and has an active role in the fintech community. Both their official website and client support are available in 16 languages including English, Thai, Chinese, and Swahili. Opening an account with Exness is relatively straightforward and entails the usual steps. You will need to provide proof of identity, proof of residency, and verify your email and phone number. We visited their website and it was pretty vague with details and had no information on the team. We subsequently checked Trustpilot and although they have a 4-star rating, there are several very negative reviews that accuse Pocket Option of being a scam.
Traders can leverage these platforms for manual trading, algorithmic trading, and even copy trading through various plugins and features. Exness provides a web-based trading platform that can be accessed directly through a web browser. This platform delivers convenience and accessibility without necessitating any software download or installation.
Not only can you choose between 3 quality trading platforms they also have a good social trading app that avoids the generic offering many brokers are creating. The trading costs will depend on the account type you select, as the two commission-based accounts have lower spreads compared to the commission-free accounts. All account types use market execution, except for the Pro account which offers both instant and market execution methods. The Exness Trade app simplifies the process of managing your trading account by allowing you to directly deposit and withdraw funds using the mobile application. With a user-friendly interface, you can select from a range of payment methods that are most convenient for you. The app guides you step-by-step through the deposit or withdrawal process, from selecting your preferred payment method and currency to entering the amount and confirming the transaction.