EXNESS REVIEW: PROS & CONS
Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.
Last Update:
28.6.24
BASIC INFO
Exness is a leading global Forex and CFD broker known for its wide range of trading instruments, exceptional trading conditions, and instant withdrawal services. The platform provides advanced trading tools, various account types, and educational resources, catering to a diverse clientele, from beginner traders to experienced professionals.
PROS & CONS
PROS
+20 Years in Business
This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.
Regulated by a Credible Government Agency
This platform is regulated by a credible government agency, ensuring that it operates in compliance with industry standards and regulations. Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants. Trading on a regulated platform can enhance trust and confidence in the trading environment.
Low spreads
This platform offers tight spreads, ensuring competitive pricing and cost-effective trading.
Fast Registration Process
This platform offers a simple and straightforward registration process, allowing users to quickly create an account and start trading without unnecessary complications.
CONS
Poor Customer Support
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
Lack of Educational Resources
This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.
APPS
METATRADER 4
Widely-used platform for forex trading. Known for its Expert Advisors (EAs) and customizability.
METATRADER 5
Successor to MT4 with more timeframes and order types. Supports more markets beyond forex.
EXNESS APP
Mobile application for Exness trading. Provides tools for trading and analyzing markets.
The screenshot of the MetaTrader 4 (MT4) platform features a dynamic user interface, equipped with multiple essential components for trading. The "Market Watch" window displays a list of the most traded currency pairs, showcasing market liquidity with real-time bid and ask prices. Concurrently, the EUR/USD candlestick chart offers a crisp visualization of market fluctuations over a one-hour period, accentuating bullish trends with green candles.
ACCOUNT OPENING
How to Open a Trading Account with Exness
Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:
Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.
Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.
Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).
Access the Trading Platform: Download and install the trading platform. Log in with your account details.
Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
Start Trading: Once your account is set up and funded, you can start trading.
How to Deposit
Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:
Log in to your newly created account.
Click on "Deposit Funds".
Enter the amount and select the currency.
Finally, select your chosen deposit method. Don't worry, it's a secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.
Below we show you the available alternatives.
Deposit & Withdrawal Methods
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ASSETS & SERVICES
Exness is a solid choice for investors interested in FX (Forex) and CFD (Contract for Difference) trading. It offers a wide range of financial assets, including:
Currency Pairs (Forex): Currency pairs are one of the most popular assets in trading. Investors can speculate on the fluctuation of exchange rates between major currencies, such as EUR/USD, GBP/JPY, and USD/JPY.
Stocks: It allows the buying and selling of CFDs of stocks of companies listed on various stock exchanges worldwide. This provides investors with the opportunity to invest in leading companies like Apple, Amazon, Microsoft, and many others.
Stock Indices: Stock indices represent the performance of a group of stocks on a specific stock exchange. Investors can trade indices such as the S&P 500, FTSE 100, DAX, and more, allowing them to diversify their portfolios.
Commodities: Commodity assets include crude oil, gold, silver, natural gas, corn, coffee, and other basic commodities. Investors can speculate on the price movements of these commodities, which are often influenced by economic and geopolitical factors.
Cryptocurrencies: You can trade CFDs on a variety of cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.
REGULATION
United Kingdom
FCA
Financial Conduct Authority
Cyprus
CySEC
Cyprus Securities and Exchange Commission
Seychelles
SFSA
Seychelles Financial Services Authority
Selected Feedback of Exness on Trustpilot
If you are considering opening an account with Exness and looking for real user reviews, this is the right place. 'Real users' mean those who have personally experienced the services and share their unbiased feedback. This approach ensures more reliable insights compared to generic platform reviews.
We have gathered the most representative positive and negative reviews to provide a comprehensive view of the user experience on this platform. How did we achieve this? We explored trustpilot.com, the largest global website, collecting user reviews. Real users leave their comments on services at Trust Pilot. This section compiles genuine user feedback reflecting the overall sentiment towards the Broker.
Here is a detailed analysis of Exness based on user reviews on Trustpilot:
Overall Rating: Exness has an impressive rating of 4.8 out of 5 on Trustpilot, indicating a high level of customer satisfaction.
Positive Aspects: Users have praised Exness for its transparency, fast withdrawals, excellent customer service, and user-friendly platform. Many reviewers have highlighted the broker's reliability, range of trading tools, and competitive spreads.
Negative Aspects: Some common complaints include issues with delayed deposits, difficulties reaching customer support, and allegations of account manipulation during news events. A few users have reported challenges with the verification process and withdrawal complications.
Service Reliability: While the majority of users have experienced efficient transactions and responsive support, there are instances where users face delays and communication issues with the support team.
Overall Conclusion: Exness has received overwhelmingly positive feedback from its users. The platform is commended for its transparency, swift transactions, and supportive customer service. However, some users have experienced issues with deposits, withdrawals, and customer support responsiveness. Prospective users should consider these factors carefully based on their personal trading needs and experiences.