We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Exness provides opportunities for traders of varying abilities on the established MT4 and MT5 platforms. Regulation is present in multiple countries, including with the industry-recognised FCA and CySEC authorities. Account types, minimum deposit requirements, and the offering of a fantastic education hub all contribute to the competitive service and high quality trading experience.
For example, the Exness Blog isn’t updated as frequently as brokers that produce dozens of daily content pieces. Expanding the quantity of content, if it remains just as high-quality, would be a welcome addition. Exness accepts deposits in different cryptocurrencies, available from within the client portal under its wallet section. The biggest drawback is that Exness doesn’t accept retail clients in its more regulated European-licensed entities, located in the U.K. And Cyprus, leaving non-institutional clients to sign up under its offshore entities in the Caribbean and Africa. Access our 24/7 in-app support available in multiple languages through live chat.
Popular Forex Guides
- I like the trading fees at Exness and the absence of swap rates on leveraged overnight positions on several assets.
- Exness offers mobile trading apps, as well as MT4 and MT5 for both Android and iOS devices.
- Exness offers floating spreads which are generally tight, and lowered in 2024, though variable based on the account type chosen.
- Exness enriches its trading platform with a diverse range of unique tools and features designed to empower traders and elevate their decision-making processes.
Yes, Exness provides free demo accounts for all their account types except Standard Cent. By default, the demo account provides access to MT5 with $10,000 in virtual currency, but you can use it to explore all available platforms. Read my full guide on the best brokers offering demo accounts, also known as paper trading, to learn more.
The CEO and founder, Petr Valov, is shaping the organisation with transparency and honesty at the heart of the business strategy. Exness neither offers neither bonuses nor promotions, but it maintains a high-paying partnership and affiliate program with up to 40% revenue share or $1,850 per client. Exness notes 119,000 partners, $1B+ in affiliate payouts, and $2.9M as the top monthly affiliate payout.
Additional account types are also available, including an Islamic account with no swap or rollover charges. Exness upgrades its trading environment with services by Trading Central, including the MT4 plugin TC Technical Analysis Indicator. I like the free VPS offer, which only requires a total deposit of $500, a minimum free margin of $100, and trading activity within the past 14 days. It is one of the most generous offers and ideal for demanding traders who require low-latency 24/5 market access without running their PC, like scalpers and algorithmic traders. If you are a beginner and don’t really understand all the concepts of trading and just want to find good signal providers to follow, the Exness social trading app is a decent option. If you are going to follow someone then there is every reason to want to know the signal providers equity and their risk management strategies.
Trading Fees
Exness is a multi-regulated broker, and account verification is mandatory. Most traders will pass verification after submitting a copy of their ID and one proof of residency document. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I highly recommend that traders check them before evaluating the total trading costs. One odd thing we noticed is that the live chat gives you a time-out message, even though you are actively chatting.
Non-Forex traders have sufficient trading instruments, especially for strategies that require fewer but highly liquid trading instruments, like scalpers. This account has Zero Spread Accounts on the 30 most traded currency pairs for the majority of the trading day making it suitable for high-frequency and if you are wanting to use automated trading platforms. We think this account is best if you know exactly which currency pairs you intend to trade. For their standard account, average floating spreads start from 1 pip on EUR/USD. These spreads are taken from the broker’s website and we benchmarked them against other Forex brokers, and while they are fairly decent, they’re not the most competitive.
Commissions and fees
Exness employs a variable spread model on its trading instruments, with spread values subject to change based on market conditions and account type. This dynamic approach offers traders flexibility in managing their trading costs. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).
Can you automate trading with exness?
Additionally, Exness equips traders with trend exploration tools, facilitating the analysis of market trends to identify suitable entry and exit points. Furthermore, traders can access instrument-specific insights, enabling them to make well-informed decisions based on the unique characteristics of each asset. Beyond the sales pitch, I enjoyed much of the content from the Team Pro, despite a few unbalanced claims. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. With Exness Trade, you can access a bespoke trading terminal designed for MT5 trading accounts.
Exness offers several account types which are suited to different levels xcritical official site of experience. The Standard account has no commissions while the RAW spread and Zero accounts are the best choices for experienced traders. Exness offers unlimited leverage, which for better or worse, is a clear differentiator that sets it apart from many other forex brokers. Overall, we think Exness offers reasonably competitive spreads, a good range of account options, diverse funding methods which include cryptocurrencies, and a decent education. Exness’ trading platforms provide a good range of options for traders, including the popular MT4 and MT5 platforms. Exness distinguishes itself through an extensive range of tradable instruments, catering to diverse trader preferences and strategies.
It also allows flexible leverage and has ultra-competitive trading fees, including swap-free trading. Exness does not levy internal xcritical rezension deposit or withdrawal fees and processes most withdrawal requests to e-wallets within seconds, but it may take up to 24 hours. Bank wires can take up to three business days, and credit/debit card withdrawals up to five days. The name on the payment processor and the Exness account must match, and if traders use multiple payment processors to deposit, they must withdraw in equal proportions. Exness automatically opens an MT5 standard demo account upon registration, and traders can open up to 100 MT4 and 100 MT5 demo accounts from their Exness Personal Area. They are entirely customizable, and traders can manage multiple accounts via the back office.
Register, create and manage your accounts in-app with just a few clicks. Exness complies with the Payment Card Industry Data Security Standard (PCI DSS) to ensure your security and privacy. We conduct regular vulnerability scans and penetration tests in accordance with the PCI DSS requirements for our business model.