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. Exness offers floating spreads which are generally tight, and lowered in 2024, though variable based on the account type chosen. Spreads start from 0.3 pips on the Standard Cent Accounts and from 0.1 pips on the Standard Account, with no commissions on all trading volumes. Exness ranks among the best choices for a Forex broker, as it is one of the few that offers almost 100 currency pairs.
MetaTrader 5
The other missing feature is a lack of education and integrated research tools like connectivity to Forex news. The Exness terminal is built using HTML5 which ensures the browser loads fast and is secure thanks to advanced encryption. When we test the platform, we found it performed as well as any desktop which is a good thing as it means you can use the platform on any medium you can access a web browser, even mobiles.
Popular Forex Guides
Exness is a viable option if you reside outside of the U.S., the U.K., and the EU. Despite its small product range, you can choose from multiple account types, the full MetaTrader suite, or use its simple web Terminal platform which comes with some innovative features for active and beginner traders. The Exness Social Trading offering has potential but needs some important refinements, including potentially moderating the claims made by providers which more strict regulators could frown upon. For instance, I came across one strategy called “Risk Free Forex” and another called “Forex safe 2,” which are misleading strategy names – forex trading always involves a high level of risk.
- For example, it is easy to find the most copied providers and “best” strategies but not the least copied or worst performing ones, which can result in a database bias when sorting through providers.
- Additionally, the app’s security features require verification for transactions, giving users peace of mind that their funds are handled safely.
- If you are trading with the Raw or Zero Account you can trade 73 Forex pairs which include fewer exotic pairs compared to the no-commission accounts.
- Funnily enough, I asked my colleague in Australia (where Exness don’t serve to assist me with testing the app) and unlike me, he uses iOS and he had a strange experience.
- Traders can also rely on the market-leading MT4, the primary choice for algorithmic trading, and MT5.
Clients will be pleased that transactions back to your original payment method are often instant. Typically a 5-day wait, along with fees, is offered by competitor brokers. Exness does not charge a fee for any payment method, however, third-party charges may apply. Traders can also rely on the market-leading MT4, the primary choice for algorithmic trading, and MT5.
It’s available for both iOS and Android, it has all the features you would expect of a mobile trading app. That is one-click trading and charts designed for the small screen, unsurprising the analytic tools are a bit more limited compared to the web version. The mobile version comes with TradingView charts integrated which is good especially as you can receive signals that TradingView will curate for you. We also found that the buy and sell buttons have market sentiment displayed on the, which was quite cool. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets.
Diverse Tools for Varied Traders’ Needs
At the start of 2022, Exness launched its own developed social trading called Exness Social Trading. Like most decent social trading software, you will find a large range of strategy providers as well as a ranking system for the best copiers in the network and filters to help you find the people you wish to follow. However, we found this app to be somewhere different from other apps we have seen as it kept information displayed about strategy providers to what you should care most about such as risk and profit rate. In other words, it does not bother with nice to have information such as stop loss, take prod and equity.
This review will delve into the key aspects of Exness, shedding light on its unique advantages and why it’s a preferred option among traders. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.
Still, the Exness Trade mobile app has a way to go to catch up to the best brokers for mobile trading. While Exness offers a smaller range of tradable products than the industry average, it still has the most popular products to help meet the majority of its clients’ needs. However, if you are looking to trade a product that Exness doesn’t offer you will of course need to use a different broker. To manage your Personal Area with Exness Trade, various tabs within the trading app can be used.
Also, once you have opened an account, the base currency cannot be changed, though a new account can be opened in an alternative currency. The Exness Group has headquarters in Limassol, Cyprus, alongside offices in London, United Kingdom, South Africa, Seychelles, Curaçao, and the British Virgin Islands. Note, the offices in Cyprus and the UK do not provide trading services to retail investors. The Exness Group was established in 2008, with several global affiliates offering trading across the world.
Exness Terminal
Download our app today and discover the full suite of innovative features and better-than-market conditions. See for yourself why Exness is the broker of choice for over 800,000 traders and 64,000 partners. If you have experience trading with Exness please share your personal review of the broker and what you think are strong and weak points. Note, you may be required to provide identity verification documents, such as proof of residency under Know Your Customer (KYC) compliance requirements.
Other than that, we think the customer service and support seem pretty good, and we scored Exness well accordingly. Exness does offer a live chat bot which is decent but it still couldn’t answer some basic questions like “Is there an inactivity fee”. It was however able to tell us the difference between the trading accounts and suggested a suitable page with further information. We gave Exness a score of 6 out of 10 for a range of markets for trading. With nearly 100 Forex pairs to trade, and a decent range of cryptos and hard commodities like metals and energies we were impressed. However, we would have liked to have seen more and they have seen more shares, indices, and ETFs available.
Regulation is present in various jurisdictions, giving traders the added sense of security required when investing capital. Social media and websites such as Quora, Facebook, and LinkedIn also provide helpful peer-to-peer broker reviews and additional guidance. The award-winning retail FX trading brand holds regulatory licenses in the United Kingdom, Cyprus, Seychelles, and South Africa, among others. The organisation was also the first to hit a monthly trading volume of xcritical scam $1 trillion and $2 trillion, with over 260,000 live accounts. It complies with six regulators, including one central bank, and offers a template for competitors in managing a trusted and competitive broker. Exness received numerous awards for various aspects of its competitive trading products and services.
Popular metals, including gold, are offered in the form of a currency pair such as XAU/USD. The Pro Account features a raw spread with a variable commission structure per trade. I want to caution beginner traders in using demo trading as a simulation tool, and they should xcritical reviews consider the limitations. Demo trading does not provide exposure to real trading psychology and can create unrealistic trading expectations.
Exness will archive MT4 demo accounts after 180 days of inactivity and MT5 accounts after 21 days (for some servers it can be 14 days). I like that Exness understands the requirements of demo usage for advanced and algorithmic trades by offering customization and unlimited access. The Exness Pro account is commission-free while the Zero and Raw Spread accounts include commission but have very low spreads down to 0 pips.