September 21, 2021

Is Exness scam or a legit Forex broker?

Exness is authorized by FSCA (Financial Sector Conduct Authority), CySE (Cyprus Securities Commission), FCA (Financial Regulation and Supervision of Great Britain), FSA (Financial Regulation and Supervision of the Republic of Seychelles). It is a brokerage firm that holds high ratings in Forex. A company that has an FCA license can never be a scam because it is very hard to get it. Exness has been working since 2008 with Forex.

Exness is reliable

It is a completely reliable brokerage firm that is certified by multiple countries. Exness provides various instruments for trading i.e. metals, stocks, cryptocurrencies, indices, energy, and more than 120 different currency pairs. Brokers provide leverage capable of 1:500 but this broker provides up to 1:2000 leverage.

How does Exness work?

Exness is a brokerage firm that provides different offers for trading. It performs different operations that are:

  • Exness not only take orders from clients for trading
  • It works on understanding market strategies and trading techniques.
  • So that it can offer better skills and services to the traders.
  • A high level of leverage and spread type is the most considerable service in trading.

Spreads 

Exness spreads vary from account to account.

  • Standard and standard cent spreads start from 0.3 pips.
  • Exness pro account starts from 0.1 pips.
  • Exness Raw and Zero spread start from 0 pips.
  • Standard plus starts from 1 pip.

Pros and cons of Exness

Here are the following pros and cons of Exness.

Pros 

  • Fast withdrawals: One of the best features of excess is its fast withdrawals. You can withdraw whenever you want to. It will take some seconds to withdraw your money. It doesn’t require any specific time because this service is available 24/7.
  • Low spread: Exness has an incredibly low spread as compared to other brokers.
  • Multiple trading platforms: You can trade through different platforms as Exness offers MT4, MT5, web terminal, social trading, and mobile trading.
  • Separate account: It provides a separate account for traders and brokers so traders can conduct their trading activities. This feature provides better security and reliability.

Cons 

  • Training session in English: Exness training session is only in English which is not so helpful because people using these platforms belong to different regions and residences having multiple languages.
  • Customer service: Its customer service is not so fast as it should need betterment.

Market instruments 

Exness offers several instruments for trading which include metals like gold and silver, forex currencies, several different currencies pairs, stocks, etc.

  • Commodities
  • Indices
  • Energy
  • Forex 
  • Metals
  • Cryptocurrencies
  • stocks

Exness trading platforms

MetaTrader4

It is a well-known trading platform.

  • It is present for standard, standard cent, pro, zero, and raw spread accounts.
  • It provides 1:unlimited leverage.
  • Orders older than 35 days are automatically archived.
  • It has a variety of trading strategies.

Meta Trader5

MetaTrader5 is an updated version of MT4 which offers more upgraded features like:

  • Orders will never be archived.
  • It presents additional charts and 21 timeframes.
  • It provides a hedging system.
  • Its programming language is Meta Quote language 5.
  • It is present for standard, raw spread, and zero accounts.

Web terminal

  • It is a browser-based terminal that doesn’t require any installation and can be used through a browser.
  • It is an ideal choice for beginner traders.
  • It has various trading operations.
  • It has customized price charts.

Exness trading features 

It offers multiple features, platforms, and types of accounts for trading.

  • Users can get help through Calculator for calculating swaps, pip values, and margins.
  • Social trading is a separate app launched by Exness so you can trade indirectly by just watching the performance of best traders, market conditions, and leverage levels.
  • Tick history is used for downloading tick movements of currency pairs
  • A virtual private server (VPS) is for those traders who want high execution speed and ultra-security. But for using this feature you have to deposit 500 USD.

Deposits and Withdrawals 

Exness doesn’t require any fees for small deposition amounts but it requires fees for withdrawals. Traders can deposit money in whatever currency but the basic currency for all accounts is USD.

There is only $10 needed to deposit for Vietnam traders and $15 for non-Vietnamese traders.

Payment methods for deposits and withdrawals

There are several ways for deposits and withdrawals that are as follows:

  • Internal transfer
  • Neteller
  • Bitcoin
  • Skrill
  • Web money
  • USDT
  • Bank cards etc.

Instant withdrawals

It is the best feature that traders can withdraw payments instantly through Exness.

These methods are:

  • Neteller
  • Astropay
  • Skrill
  • Perfect money
  • Internal transfer
  • Web money

Experience through trading

Exness provides its users multiple accounts so that they gain experience through trading on different platforms. You can start with a demo account without investing real money. After that trading accounts also contain multiple account types.

Start with a general one (standard account). There are professional accounts so when you will get enough confidence and experience, you may trade with experienced traders and investors.

Exness is the best brokerage firm for enhancing trader’s skills and earnings.

Is Exness a good Forex Broker?

As we know that it’s very difficult to get a license from FCA and Exness have it. So Exness is a good choice for trading. There are many other Forex brokers but still, Exness has high ratings just because of their customer services, small commissions,

and high leverage.

How does Exness make money?

Exness makes money mostly through swaps, commissions, and spreads on definite assets. There are other ways too but the main method for making money is spread.

Summary 

It’s the first step of trading to choose the most reliable and trustworthy broker which can offer you the best offers and services for trading. As we know that a lot of brokerage companies are working globally then why the majority of traders are trading with Exness.

The reason is their customer support and great strategies guidance. Exness is 100% legit brokerage firm so you can do safe trading with them. It is absolutely up to you which brokerage firm suits you so before choosing anyone complete research and education is important.

About the author 

Peter Hatch


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