Exness Review in 2024 Spreads & Fees Compared
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. While the broker is regulated in 8 jurisdictions, only the FCA and CySEC are ones we would take seriously as a regulator and strangely, the broker does not operate out of this market. When he downloaded the app from the iOS app store, Exness Trade launched an entirely new branded product called Pocket Option which we hadn’t seen referenced anywhere on the Exness website.
In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we evaluate the broker’s longevity in the industry, the company’s size, and its transparency. Based in Limassol, Cyprus, Exness is a multi-asset broker with a compelling offering. Since its launch in 2008, it has become a leading player in the market with a significant global presence.
Exness Terminal
Additionally, Exness goes the extra mile with features like third-party research from Trading Central and free VPS hosting. While Exness is regulated by various regulators, it’s only covered by one tier 1 regulator, the Financial Conduct Authority in the United Kingdom. We visited their website and it was pretty vague with xcritical cheating details and had no information on the team.
It’s wonderful to know you’re finding our tools and indicators helpful and easy to use. At first, everything was going well, but all of a sudden, they started saying I was copying a trade, which I didn’t do. If you have experience trading with Exness please share your personal review of the broker and what you think are strong and weak points. Exness is regulated by several financial authorities, including the FSCA in South Africa and CySEC in Europe.
Why is It Important to Know Where Your Broker Subsidiary (Entity) is Regulated?
Exness clients are protected by the Commission’s Compensation Fund for up to €20,000. For instance, clients with a UK entity enjoy a high level of regulatory scrutiny and are covered by a compensation scheme in the event of broker insolvency. On the other hand, Exness’ offshore entity is subject to different regulatory oversight. Exness dates back to 2008, marking it as a highly experienced CFD broker with a lengthy operating history. According to the broker’s LinkedIn page, the company has 1,001-5,000 employees, reflecting a large brokerage firm.
What Can You Trade with Exness?
In one way or another, this can be regarded as something positive because it shows that the company complies with the requirements of forex market regulators, which demand abandoning such methods to lure more clients. By December 2018, their clients’ monthly trading volume reached USD348.4 billion and active traders around the xcritical scam world surpassed 50,342. There is a high level of risk involved when trading leveraged products such as Forex/CFDs.
- Instant deposits and withdrawals and 24/7 customer support are available via the app.
- The trade copier uses the platform to find a strategy provider to follow.
- He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.
- For traders who may not engage in frequent trading, it’s worth noting that Exness is amongst the few brokers that do not levy an inactivity fee.
Exness needs to seriously improve its education – it’s a woeful offering that makes it less suitable for beginners. The only noticeable omission is Exness’s need for valuable in-house analysis reports to educate and inform beginner traders. You’ll automatically get $10,000 in virtual funds to practice trading with, but I’ve found you can manually alter the balance for a lower or higher amount.
With a strong emphasis on transparency and user-friendliness, Exness caters to traders of all levels. 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. Beyond the sales pitch, I enjoyed much of the content from the Team Pro, despite a few unbalanced claims. Exness has been a long-time provider of Trading Central to complement its in-house research offering, including videos with technical and fundamental market analysis. Headlines from FXStreet also stream within the Exness MetaTrader platform suite. Overall, Exness has made slow but steady progress in innovating its Exness Trade app and Social Trading app, bringing several useful features and touches to the trading experience.
