The Exness brand is managed by three companies: Exness (CY) Ltd (operating in Europe), Exness (UK) Ltd (Great Britain and other countries) and Exness Ltd (Saint Vincent and the Grenadines, registration number 21927 (IBC 2014)). The trading volume at the beginning of 2019, according to the company, is $317.3 billion. The company's website is quite pleasant and informative. A daily video review of financial news from the New York Stock Exchange and trading recommendations are presented.
The choice of instruments for trading is limited, and differs on different types of accounts. About 120 currency pairs, several major metals and cryptocurrencies are represented, while they are mixed on the website, which is not very convenient.
There are 4 types of accounts available - Cent, Mini, Classic, ECN. Trading on Cent and Mini accounts can even begin with $1, which is suitable for customers who do not have large funds, as well as those who want to test their strategy. For traders with a deposit of $2,000 or more Classic accounts are available, from min. lot 0.1 and spread from 0.1p. In addition, transactions in these accounts, by decision of the dealer, can be withdrawn to the interbank. The leverage for all three types of accounts is 1: Unlimited. However, leverage is limited before weekends and holidays, as well as during the publication of High-level economic news. To open an account like ECN 300 $ is enough. There is a commission, but the transactions are withdrawn to the interbank.
An interesting feature of the company, according to our review, are metal-currency accounts, which are an investment portfolio consisting of one or more precious metals and/or currencies. The distribution of funds between these parts supposedly allows you to diversify risks and scam and can become a source of long-term investment income.
Registration is quick via email. Then, in your personal account, you will need to confirm the phone number, enter personal data, as well as provide copies of documents proving the identity and place of residence. The client agreement is in English.
Customers are provided with a standard set of trading platforms: MT4, MT5 and WebTerminal. There are mobile platforms for iOS and Android. WebTerminal has a very meager set of analysis functions and is suitable only for opening and closing transactions, if you do not have a full-fledged trading platform at hand. The declared order execution speed is from 0.1 sec. In practice, the numbers were slightly different upwards depending on market conditions and Internet connection speed. Those who wish to increase speed can connect a VPS server free of charge, subject to an initial deposit of $500. The spread is floating, it can expand significantly with great volatility, which should be taken into account by scalpers and amateurs to trade on the news.
Exness (Cy) Ltd. Regulated by the UK Financial Regulatory Authority (FCA), registration number 730729; Exness (Cy) Ltd. - The Cyprus Securities and Exchange Commission (CySEC), license number 178/12; Exness (VC) Ltd. - not regulated.
In order to ensure security, customer accounts are held in segregated accounts. Currently, the number of Exness service banks includes: Barclays, Baltikums, OSBC Bank. Each time we requested a withdrawal of funds, a password change, such as security or leverage, a one-time security code was sent to our phone. If an unauthorized login to the account is attempted from an unknown IP address, the password is automatically reset.
Account replenishment is possible in 80 world currencies using a bank card, online payments. Top-up and withdrawal to most electronic payment systems is carried out instantly without commissions, withdrawal to the card takes an average of 3-5 days according to the regulations.
Customer support is provided in 15 languages. You can contact technical support in many ways: online chat, WhatsApp, Telegram, as well as a toll free number. We did not have any complaints against support workers. The guys are polite and try to help.
Exness is an international brand that provides quality service. Narrow spreads, high speed of order execution, quick replenishment and withdrawal of funds without commissions are a good help for opening an account with this broker. However, for experienced traders, the choice of tools for trading may seem insufficient.
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