The information provided here is of the nature of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person’s investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. Learn more about forex trading by checking out Forex Trading Course covering how to start forex correctly. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. The Exness YouTube channel is mostly dedicated to analysis, but it also features a range of educational platform tutorial videos covering how to use Exness Terminal and MetaTrader.
App support
Our broker reviews are reader supported and we may receive payment when you click on a partner site. Daily videos provide commentary, trading ideas, and news coming directly from the New York Stock Exchange floor. Exness does offer swap-free Islamic accounts but only for residents of Islamic countries. The Trades panel at the bottom allows traders to easily follow their open positions, pending orders, and closed trades.
Charting, Ease of Use, and Additional Features
This selection is competitive with other CFD-only brokers we’ve evaluated, many of whom provide similar or slightly fewer offerings. While deposits are free, some withdrawal methods, including e-wallets and crypto, may incur small fees from the payment processor. When I set up my live account with Exness, I appreciated the Google social login option because it saved me time. However, I would have liked two-factor authentication (2FA) to provide an added layer of security. This review of Exness evaluates the trading experience using the 200+ data points and multiple rounds of hands-on tests we’ve been conducting since August 2021, plus comparisons with our 267 alternative brokers. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets.
Exness vs Other Brokers
For instance, I came across one strategy called “Risk Free Forex” and another called “Forex safe 2,” which are misleading strategy names – forex trading always involves a high level of risk. For example, it is easy to find the most copied providers and “best” strategies but not the least copied or worst performing ones, which can result in a database bias when sorting through providers. Overall, Exness’ flexible deposit and withdrawal options contribute to a user-friendly experience, allowing traders to efficiently manage their funds. The broker’s efforts to minimize fees make it a favorable choice in this regard. Exness offers mobile trading apps, as well as MT4 and MT5 for both Android and iOS devices. These apps grant traders the flexibility to access their accounts, execute trades, and monitor market developments while on the move.
- They also don’t offer the full range of commodities that some other brokers do, but they do have some cryptocurrency CFDs which helps offset some of the other limitations.
- Due to the absence of detailed information regarding various fees and charges, it is advisable to reach out to their customer support for the most comprehensive and xcritical details.
- Regulated by authorities such as the FCA, CySEC, and the Seychelles FSA, Exness offers a secure trading environment.
- Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
- Overall, we think Exness offers reasonably competitive spreads, a good range of account options, diverse funding methods which include cryptocurrencies, and a decent education.
Only demo trading accounts will be deleted automatically after a period of inactivity. Exness is a viable option if you reside outside of the U.S., the U.K., and the EU. Despite its small product range, you can choose from multiple account types, the full MetaTrader suite, or use its simple web Terminal platform which comes with some innovative features for active and beginner traders. Exness excels in its account opening procedure, which is both efficient xcritical official site and user-friendly.
It distinguishes itself by not imposing deposit or withdrawal fees (some payment providers may charge their own fees), and swap fees are also waived in most cases. Transparent price history, including tick-level data for all instruments, is readily available. Exness is suitable for beginners due to its user-friendly platform, low minimum deposits, and the availability of a demo account for practice. It allows for smaller trade sizes through its Standard Cent account, which helps new traders manage risk. The Exness Social Trading offering has potential but needs some important refinements, including potentially moderating the claims made by providers which more strict regulators could frown upon.
As of April 2023, Exness had 476,000 active traders, demonstrating a strong growth trajectory. Additionally, their trading volume in 2021 was over $11 trillion, and this was verified by their independent auditor, Deloitte. At the start of 2022, Exness launched its own developed social trading called Exness Social Trading. Like most decent social trading software, you will find a large range of strategy providers as well as a ranking system for the best copiers in the network and filters to help you find the people you wish to follow. However, we found this app to be somewhere different from other apps we have seen as it kept information displayed about strategy providers to what you should care most about such as risk and profit rate.
When we test the platform, we found it performed as well as any desktop which is a good thing as it means you can use the platform on any medium you can access a web browser, even mobiles. Exness, founded xcritical scam in 2008, is a prominent global broker specializing in forex and CFDs. The Market News section within the client portal provides a real-time feed of market news and the latest updates from the FXStreet team. Both the trade copier and the strategy provider can earn from profitable trades.
Similar to the Zero Account, this account also offers ultra-low to no spreads with the Lowest Commission Brokers, which is capped at USD 3.5 per lot in each direction. While the commission does vary depending on the instrument traded, the degree of this variation appears to be less than the Zero Account which can fluctuate more widely. The Exness Standard account offers you the full range of assets across forex, metals, cryptocurrencies, energy, indices, and stocks with no commission cost. With over 100 forex pairs, 34 crypto pairs, 98 blue-chip stocks, 13 commodities and 10 indices, you’ll have plenty of assets to choose from. For their standard account, average floating spreads start from 0.9 pip on EUR/USD. These spreads are taken from the broker’s website and we benchmarked them against the average.