Exness Forex Broker Introduction
Since its inception in 2008, Exness has been providing financial products including currency pairs, cryptocurrency, indices, metals, stocks, and energy. It offers a transparent trading environment complemented with its MetaTrader platforms and good client support management.
See more of Exness’ wellness as a forex broker and read this detailed forex broker review.
Exness Background and Safety
Founded by a group of professionals in the Information Technology sector and the financial industry, Exness is a group of companies offering a wide range of financial products in several parts of the world.
Its brokerage entities include Exness (Cy) Ltd, Exness (UK) Ltd, and Nymstar Limited. These firms are registered in their respective jurisdictions. The Exness Group’s sectional firms enable the brand to provide a client-centric trading environment to meet the varying needs of traders of all skill levels.
The brand’s fame in the trading industry has reached a notch higher as it has amassed a whopping $3.258 billion worth of trade volume in December 2019. Approximately, it has more than 70,000 clients actively trading across the globe.
Exness is also a multi-awarded retail broker. It won the “Best Trade Executions”. “Best Order Management”, and Best Mini Broker” distinctions by the award-giving World Finance Media.
Aside from its award-winning systematic trading condition and top-tier customer service, Exness also takes pride in its regulatory credentials, being affiliated with major financial institutions. Exness UK is regulated by the Financial Conduct Authority (FCA); Exness CY is licensed by the Cyprus Securities Commission (CySec); and Nymstar Limited has an offshore regulation in Seychelles.
Thus, it can be concluded that Exness is a safe brand as its entities have good regulatory credentials.
Exness Features and Fees
Exness gives access to the following financial markets to its traders:
- Forex (107 currency pairs available)
- Cryptocurrencies (7 crypto pairs available)
Exness offers live trading accounts with several types to choose from and a demo account to test trading strategies and gauge the trading facility of the broker.
For its live trading accounts, Exness offers a various set of account types for all its jurisdictions. Nymstar Limited features these account types for its MetaTrader 4 platform:
Standard Account – has a minimum deposit of $1 and a limitless leverage level. Spreads start from 0.3 pips and no trading fees are charged.
Standard Cent Account – this account is dedicated to beginning traders to practice trading with micro-lots. The same minimum deposit amount is asked in this account type that also has the same leverage condition. Spreads are also starting from 0.3 pips and there are also no trading commissions on this account type.
Pro Account – this account type is for professional traders with a required initial deposit amounting to $200. The sky is the limit for the leverage while spreads start from 0.1 pips. This account has no trading fees.
More so, there are two featured Pro account variants that offer raw spread and zero spread. The transaction fees for the raw spread cost up to $3.5 per lot/transaction per time. The zero spread account starts from 3.5 dollars for its trading fees.
Another good feature of Exness is its funding methods that facilitate instant and free-of-charge deposit and withdrawal transactions. Deposit and withdrawal options include Bank Wire, Credit/Debit Cards, Neteller, and Skrill.
Exness Trading Platforms and Tools
Exness is one of those MetaTrader-only brokers offering the MT4, MT5, and WebTrader platforms.
MT5 Features and Advantages: MeTaEditor, MetaQuotes Language 5, hedging, displays up to 21 timeframes all at once with quotes history, economic calendar, 38 indicator tools, 22 analysis tools, and 46 graphic objects.
MT4 Features and Advantages: enables streamlined trading (supporting all types of trading executions and trading strategies; has 23 analytical objects and 30 indicator tools; has Expert Advisors feature for automated trading supported with MetaQuotes Language 4 (MQL4), and; has 128-bit encryption for secure trading operation.
MT4 and MT5 versions of Exness include Mac, Android, Windows, iOS, and Linux.
This platform is designed for traders who want to do away from downloading and installing apps and software programs for trading. The Exness website facilitates this no-hassle trading platform that works compatible with all browser types and all operating systems.
Other Standout Trading Tool/s:
Exness runs its self-developed Exness Academy to facilitate trading education for novice and expert traders alike. It boosts the traders’ skills and capabilities by providing articles and relevant reading materials for traders.
A well-regulated broker, Exness is a good option for beginners as it also allows low-cost trading account entry. Its wide range of financial products is complemented with advantageous trading conditions from sky-high leverages up to tight spreads and transparent pricing.
A new trading platform offering will be a good addition to its advanced trading tools and facilities.