Exness Forex Broker Review 2023
2008
Are you looking for a reliable forex broker to trade with in 2023? If so, then you may want to take a look at Exness. This broker has been around for over a decade and provides traders with access to the world’s financial markets. In this article, we’ll delve into an Exness Forex Broker Review 2023 and give you all the information you need to make an informed decision.
If you’re new to trading forex, then you may be wondering what makes Exness stand out from the competition. Well, they offer competitive spreads and commissions, advanced trading platforms, 24/7 customer support, and more. You can also get access to over 120 trading instruments across 6 asset classes, including currency pairs, stocks, indices, commodities, metals and cryptocurrencies. All of these features combine to make Exness an attractive option for any type of trader.
So if you’re ready to find out more about this broker and their offerings in 2023 then read on! We’ll explore everything from their fees and spreads to their platform options and customer service. By the end of this article, you’ll have all the knowledge you need to decide if Exness is right for your trading needs.
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Overview
Exness is a global forex broker founded in 2008. They offer their clients access to the world’s largest financial market, with over 1000 instruments including foreign exchange, commodities, indices and cryptocurrencies. They provide a wide range of trading platforms and services, from desktop apps to mobile apps as well as an extensive range of educational materials for new traders. Exness has won numerous awards for its services, including ‘Best Broker’ at the World Finance Forex Awards in 2020 and ‘Best Trading Platform’ at the International Online Trading Expo in 2021.
The company is regulated by several international organizations such as CySEC, MiFID II and FCA. This ensures that all customers can trust Exness with their funds and that their trades will be executed fairly and safely. The broker also provides additional protection through negative balance protection and segregated accounts.
Exness offers competitive spreads on all major currency pairs as well as low commissions on certain instruments like indices and crypto. They also provide 24/7 customer support via chat, phone or email to help traders with any questions they may have. All in all, Exness is a reliable broker that offers a wide range of services suitable for both beginner and experienced traders alike.
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Pros And Cons
Moving on, let’s examine the pros and cons of using Exness as a Forex broker. While there are many advantages to choosing the broker, it is important to be aware of any potential drawbacks before making a decision.
Pros
- Competitive spreads – Exness offers some of the most competitive spreads in the industry, meaning lower trading costs for traders.
- Fast execution – Trades are executed quickly and reliably with no slippage or requotes.
- Robust technology – The broker’s trading platform is powered by powerful servers and sophisticated technology that keeps traders connected at all times.
- Wide range of assets – Exness offers a wide range of currency pairs, commodities, indices, stocks, cryptocurrencies and more for traders to trade with.
Cons
- Limited customer support options – The broker only offers customer support via email and live chat which may not be ideal for all traders.
- High minimum deposit requirement – Exness requires a minimum deposit amount of $500 which may be too high for some traders who are just starting out in Forex trading.
- Few educational resources available – While there are some educational materials available from the broker, they don’t provide much in terms of comprehensive education for those who need more help understanding how to trade Forex successfully.
- No social trading features – Exness does not currently offer any type of copy-trading or social trading features which could be beneficial for those who want to learn from experienced traders or copy their trades automatically without having to manually monitor the markets themselves.
History And Regulatory Status
Exness is one of the leading forex brokers in the world, providing trading services since 2008. It’s a Cyprus-based company that’s regulated by the Cyprus Securities and Exchange Commission (CySEC) and complies with MiFID directives. The firm operates under strict rules, regulations and guidelines set by CySEC to ensure its clients’ protection.
The broker is also part of the Investor Compensation Fund that provides financial compensation to traders in case of losses due to broker’s insolvency. This ensures security for clients’ funds deposited with Exness, which can be withdrawn anytime without any restrictions.
Overall, Exness is reliable and secure, making it a suitable option for new and experienced traders alike who want to trade safely online. The broker offers a wide range of trading instruments as well as tight spreads from 0 pips on major currency pairs.
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Types Of Accounts
Exness offers a wide array of accounts to suit the needs of every trader. Each account comes with its own set of features and benefits, enabling traders to make the best decisions for their trading strategy.
There are three main types of accounts available at Exness: Standard, Pro and Zero.
The Standard Account is the most basic account type offered by Exness. It’s suitable for both experienced traders and those new to trading. It provides access to over 1000 markets including forex, cryptocurrencies, stocks and commodities with competitive spreads and low commissions. This account also has a variety of tools available such as leverage up to 1:500, automated trading strategies, margin calls and stop losses.
| Standard Account | Raw Spread Account | Zero Account | Pro Account | |
| Minimum Deposit | $10 ( ZAR R160 ) | $500 ( ZAR R8000 ) | $500 ( ZAR R8000 ) | $500 ( ZAR R8000 ) |
| Deposit activation duration | Up to 72 hours | Up to 72 hours | Up to 72 hours | Up to 72 hours |
| Leverages | 1:2000 | 1:2000 | 1:2000 | 1:2000 |
| Spreads | 0.3 | 0.0 | 0.0 | 0.0 |
| Commissions | No | Up to 3.5 USD | Up to 3.5 USD | No trading commission |
| Order Executions | Market | Market | Market | Market |
| Swap- Free |  Yes | Yes | Yes | Yes |
The Pro Account is a more advanced version of the Standard Account that includes additional features such as no commission on trades, higher leverage up to 1:3000 and access to tighter spreads. It also allows traders to take advantage of advanced technical analysis tools, including indicators and charting packages.
Finally, the Zero Account is designed specifically for professional traders who require ultra-low latency access to global markets with zero commission fees on all trades. This account offers some of the tightest spreads in the industry as well as unlimited scalping opportunities with leverage up to 1:2000.
Benefits of Exness Accounts Include:
- Access to over 1000 markets including forex, cryptocurrencies, stocks and commodities
- Leverage up to 1:3000
- Tight spreads with no commissions on trades
- Variety of technical analysis tools available
- Ultra-low latency access to global markets with zero commissions * Dedicated customer support and education resources
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Trading Platforms
Exness offers a wide range of trading platforms, making it an attractive choice for all types of traders. For those who are just starting out in forex trading, the user-friendly MetaTrader 4 platform is a great choice. It’s easy to use and provides plenty of features like charts, graphs and indicators that make it easy to analyze markets and track trends. Plus, MT4 supports automated trading strategies and Expert Advisors (EA) which can help traders achieve better results.
For more experienced traders, the cTrader platform is another great option. This advanced platform offers access to deep liquidity pools with fast execution speeds – ideal for scalpers or algorithmic traders. Plus, with its intuitive user interface and customizable layout it’s simple to keep track of multiple positions at once.
Overall, Exness’ selection of trading platforms makes it a great broker for all types of traders – from beginners to experienced professionals. With its wide range of features and tools available, you can easily find the best trading solution for your individual needs.
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Fees And Commissions
Moving on from trading platforms, let’s look at the fees and commissions associated with Exness forex broker. Traders should be aware of these costs as they could affect their profits and losses.
Exness does not charge a commission for clients trading forex or CFDs. Instead, traders are subject to market spreads for these instruments which vary depending on the liquidity in the market. Generally speaking, spreads are quite small and range from 0.1 pips to 0.8 pips, depending on the currency pair being traded. This is attractive compared to other brokers who usually offer higher spreads that can sometimes exceed 1 pip or more.
In addition to this, traders should also consider any overnight fees that may be charged by Exness when positions remain open at 5 pm EST (New York time). These fees are known as swap charges and can either add or subtract from your account balance, depending on whether you hold a long or short position respectively. Overnight fees are determined by the interest rate differential between two currencies in a pair and can vary significantly between different pairs. Overall, Exness’s swap charges are relatively competitive when compared with other brokers in the industry.
All in all, it is important for traders to be aware of the costs associated with their trading activity when using Exness forex broker. The low spreads and reasonable overnight fees make them an attractive choice for traders wanting to access global markets without incurring large trading costs.
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Leverage Options
When it comes to Forex trading, leverage offers you the opportunity to control a larger position with less capital. Exness offers traders a range of leverage options, up to 1:2000. Here are some key advantages of using leverage when trading with Exness:
- Leverage gives you greater buying power and allows you to access larger positions in the market.
- Trading on margin can increase your potential profits as well as your potential losses.
- Leverage amplifies the effects of price movements, allowing you to potentially maximize your profits from small price fluctuations.
Exness provides a user-friendly platform for trading Forex with leverage so that traders can take advantage of the opportunities presented by this type of trading. It also has an excellent customer service team who are always willing to help and answer questions related to leveraged trading. All in all, Exness provides an ideal environment for those looking to trade Forex with leverage.
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Customer Service
Exness provides excellent customer service to traders. Their customer support is available 24 hours a day, 7 days a week and they can be reached via email, phone, or live chat. This makes it convenient for traders to get the help they need quickly and easily.
The customer service representatives are knowledgeable and friendly, making it easy for traders to get their questions answered in a timely manner. They are also knowledgeable about the Forex market and can provide valuable insights into trading strategies and techniques.
Overall, Exness provides an excellent customer service experience that helps traders feel confident in their investments. Their attentive staff will ensure that any needs are met in a timely fashion and with the utmost care. They strive to make sure that all customers have a positive trading experience with them.
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Payment Methods
Exness offers several convenient payment methods for its clients. These include credit and debit cards, bank wire transfers, online payment systems such as Skrill and Neteller, as well as digital wallets like WebMoney. All of these services are highly secure, so clients’ funds are always safe and accessible.
The withdrawal process is also fast and straightforward. Clients just need to fill out a withdrawal request form and provide the necessary credentials. The request can be completed in a few minutes and funds will be credited to the client’s account within two business days.
In summary, Exness makes it easy for customers to deposit funds into their accounts and withdraw money when needed. The payment methods are secure and reliable, while the withdrawal process is quick and simple.
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Final Verdict
Exness is one of the top forex brokers in the industry today. The broker has a wide range of features and services that make it an attractive choice for traders. It offers low spreads, fast execution, and excellent customer support. Its fees are also competitive and it provides a range of trading platforms, including MetaTrader 4 and 5.
The broker’s security measures are also top-notch. It has implemented several processes to ensure that customer funds are kept secure at all times. Exness has also taken steps to protect its customers from fraud and other malicious activities by implementing robust anti-fraud measures such as two-factor authentication and encryption technology.
Overall, Exness is an excellent choice for forex traders looking for a reliable, secure and user-friendly broker. With its comprehensive range of features, low costs, fast executions, and high security standards, it is easy to see why so many traders have chosen Exness as their broker of choice in 2023.
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Conclusion
In conclusion, Exness is a trusted Forex broker. It offers a wide range of account types and trading platforms to meet the needs of traders. Its fees and commissions are competitive and customer service is responsive. Plus, it provides several payment methods for convenience. Overall, if you’re looking for a reliable Forex broker with attractive features, Exness is an excellent choice.
I personally have been using Exness for over 5 years now and I’m quite satisfied with my experience so far. The platform is easy to use and the customer service team is always very helpful in resolving any issues I might have. I also like that it offers multiple payment methods which makes depositing or withdrawing funds very straightforward.
In short, Exness has become one of my favorite Forex brokers over the years due to its reliability and great features. If you’re looking for a reliable Forex broker, I highly recommend giving Exness a try!
