Exness Forex Review - Reputable exchange. Low spread
Exness Forex Broker Review
Founded in 2008 in Vincent, Exness owns a license regulated by CySec, FCA. In particular, the UK FCA is one of the most prestigious financial management agencies today. After more than 10 years of existence in the financial market, Exness is currently the forex trading platform serving the world's largest retail investors with a total trading volume of 588 billion USD. If you are a fan of football, you will know Exness is also a sponsor of the Real Madrid club.
ADVANTAGES:
Reputable exchange.
Low spread.
Supports infinity leverage.
Fast and automatic withdrawal.
Support deposit and withdrawal via USDT, BTC.
There is no swap fee for trading Crypto.
With a simple registration, you can recharge transactions even without sending confirmation documents.
DEFECT:
Spreads can be stretched during strong market volatility.
Exness time zone is GMT + 0 which is different from many other exchanges GMT + 2
5 tips you need to know when entering the Forex market:
Limit participation in invitations to join groups to share bets.
Do not believe the temptation to commit to profit, not to risk because most of it is a scam.
Always manage your risk no matter how big or small your account is, you always have a stop loss when entering orders.
Trade on reputable, highly rated, and relevant brokers for your trading style.
Money in the Forex market a lot just you can get it or not? Therefore, always add knowledge to not turn yourself into a "chicken" to be eaten.
Is Exness a scam?
EXNESS Group launched in 2008 in St. Petersburg, Russia. After that, EXNESS moved its headquarters from Russia to Cyprus.
After more than 10 years of establishment and development, maintaining two branch units operating under the regulation of the European Union: Exness UK Ltd is regulated by the Financial Control Authority ( FCA ) in the UK, Exness (Cy) Ltd is regulated by the Securities and Exchange Commission of the Republic of Cyprus ( CySEC ) so that Exness can operate in many European Union member states.
FCA, CySEC are leading reputable licenses in the Forex field with strict conditions from regulators.
Trading volume on Exness is very large, in 2019 the average monthly trading volume of Exness is about $ 350 billion with more than 70,000 customers globally.
If you are a football fan you will also notice the familiarity of the Exness logo in Real Marid matches as Exness used to sponsor the Royal Spanish Football Club.
Exness is an exchange that I think "play nice", there are a few times when trading Exness has compensations for investors, not avoid responsibility as many other exchanges. In the course of operation, certainly, no exchange can avoid 100% without problems, the problem is how to deal with their customers.
Certainly, Exness is not a scam forex exchange!
Along with Medio go into the detailed reviews below to see if Exness is right for you or not.
Exness trading platform
Exness offers a suite of well-known trading platforms developed by the MetaQuotes Software Group, including the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Besides, Exness also has an app on mobile phones, MT4 WebTerminal (Web browser).
The MT5 platform is the upgrade platform of MT4 (however, in two different programming languages, mql4, mql5). So the accounts of MT4, Indicator, EA,… on MT4 will not be available for MT5 and vice versa.
MetaTrader 5 has a more user-friendly interface, is nicer, and has more features than MT4. The host company MetaQuotes also directed users to use MT5 and stopped upgrading MT4. However, the number of users switching to MT5 is not much because MT4 has a long history, so there are a lot of indicators, EA, ... created by 3rd party programmers.
I often use MT5 more because it is more convenient to enter orders than MT4.
You can view more details or download MT4 here, MT5 here.
Deals on the Phone App
Exness mobile app supports many features such as:
Register an account,
Account management with MT4, MT5 accounts.
Graphs, enter orders directly on mobile. (However, it will not be as smooth as on the computer)
Deposit, withdraw money.
View financial news.
Social Trading (follow the trading signals of other Traders)
Previously, I did not use the Exness app on my phone because I thought it was good to use MT4, MT5 to manage orders, I also did not trade according to news, so I did not need to notify.
But recently I have tried it to see many pretty good features. For example, notice the change of the account balance (plus or minus how much), so when the order to take profit or stop loss, I will be notified immediately, set an alert when the price has strong fluctuations to know in the chart survey ( such as the sudden increase or decrease in BTC price), ...
Although the Exness app has many features and is quite convenient, I still advise everyone to give priority to entering commands and analyzing on the computer! You can use the app when you go out without sitting at the computer but want to close orders, withdraw money, ...
If you are on your phone, you can download the Exness app here so you can immediately use operations such as account registration, top-up, ...
Exness Trading products
The number of trading products Exness offers a lot for you to choose from such as:
Currencies: 107 Forex currency pairs. In it, there are rare currency pairs such as USDVND pair, ... (but you can not always trade these pairs, so just look at the quantity for fun, we should still trade currency pairs. only have high liquidity)
Indexes: 10 indicators
Stocks: 30 stocks, including popular stocks such as Amazon, Alibaba, Apple, eBay, Facebook, Alphabet, or Google ...
Energy: Oil
Electronic Money: 7 pairs but only 4 types of electronic money is BTC, ETH, LTC, and XRP (due to pair with JPY and KRW).
Metals: 10 codes of which 4 main metals are provided: gold, silver, metallic silver, and Palladium.
The number of currency pairs of Exness is large, but most of us only trade 28 popular currency pairs. Because rare currency pairs will have a high spread, you will lose a lot of profits when trading.
What I like most about Exness is that trading cryptocurrencies at Exness do not involve swap fees. Leverage when trading BTC is also very high 1: 100 - the highest among forex exchanges, equivalent to Crypto margin trading platforms like Bitmex, ...
But unlike Bitmex, you don't need to deposit BTC, you can use your Exness account directly and withdraw to VND whenever you want without losing any effort or fee to sell and resell BTC. Think about when you uptrend you on a buy order, downtrend, and leave it for a few months without worrying because Exness has no overnight fees, is it very beneficial?
You can see details of Exness trading currency pairs contract details here. Remember to switch tabs to select information by account type!
Which Exness account to choose?
Exness offers a wide variety of account types with 5 types of accounts suitable for different trader levels with each MT4 or MT5 platform with slight variations in leverage, minimum deposit, ...
Because of the large number of Exness accounts, I will divide the account to suit each level of trader so that you can easily choose the right account!
Exness account for beginners.
Standard Cent is the best account for beginners.
If you are a new trader, you will need an account with low margin requirements, trading with small lots so that you can practice trading. I recommend that you who are new to trading should only test the Demo account to know how to enter orders, close orders, ... only. When practicing trading, trading on a real account will help you train your psychology better than the demo account.
You should choose the cent account types because 1 USD = 100 cents so you will be able to practice trading with very small amounts!
Why is Standard Cent account of Exness suitable for beginners?
The minimum deposit is only 1 $.
High leverage up to 1: Unlimited - No exchange has such high leverage.
Low transaction volume per transaction.
There is no commission fee to trade.
Standard Cent accounts are only supported on the MT4 platform.
You can see more about the Standard Cent account here
Exness account for professional traders
Standard and Pro account for professional traders with better trading conditions than Standard Cent. That is:
Lower spreads (from 0.3 pips for Standard and 0.1 pips for Pro)
Unlimited leverage.
Fast order execution.
No transaction commission fees.
There is no minimum deposit requirement for Standard accounts. The minimum deposit for the Pro account is 200 $.
Free swap for Islamic countries and cryptocurrency transactions.
There are more traded products than Standard Cent accounts
The Standard account is the most popular account chosen by many traders. However, if your equity is greater than $ 200 you can choose the Pro account to get better trading conditions than the Standard account.
You can see more about Standard accounts here
An Exness account for professionals
Most traders will prefer Standard, Pro accounts because the trading environment is quite good and does not pay commissions to the exchange. However, if you want to trade with even better conditions with super-low spreads, or your trading method needs to be, then you should try the Zero and Raw Spread accounts.
Zero and Raw Spead accounts share common characteristics. That is:
A minimum initial deposit of $ 200
Spread is extremely low.
High leverage 1: 2000
Loss of commission.
Fast order execution.
Free swap for Islamic countries and cryptocurrency transactions.
The differences between Zero and Raw Spread are:
Raw Spread account commissions up to $ 3.5 and Zero commissions from $ 3.5 (meaning zero commission will be greater than Raw Spread accounts)
Raw Spread accounts have the lowest raw spreads, while Zero accounts enjoy 95% of the day with ~ 0 rough spreads for 30 trading pairs.
If your trading method is not too strict with spread ~ 0 then you should use your Raw Spread account to take up a smaller commission. Raw Spread is the account I currently use at Exness
You can view details about the Zero and Raw Spread accounts here
The only limitation I see at Exness is that there is a limit on the distance to enter orders (ie there is a minimum distance between stop loss, take profit, and entry point). In major currency pairs, this distance does not matter much if you trade Scalping on small timeframes such as M1, M5. But if the forex pairs, the gap is larger, so you cannot trade Scalping on the minors.
Trading experience at Exness
After a long time trading at Exness. Here are some of the experiences I learned at Exness:
Daytime spreads will be lower than nighttime spreads. Especially, the spread will be quite high in the early morning time.
When opening an account at Exness you should choose high leverage even when trading with low leverage to minimize margin.
It is advisable to trade cryptocurrencies at Exness as the conditions of the cryptocurrency pairs in Exness are the best of the exchanges.
You should Deposit & Withdraw money via Internet Banking Vietnam for free of charge and fast automatic processing time.
When you place a withdrawal order that requires a verification code to be sent, Exness will authenticate by the call center automatically calling to read the verification code instead of a message, so you should pay attention instead of waiting for the message!
For traders using an EA that involves time settings, remember that the Exness time zone is GMT + 0 instead of GMT + 2 like many other exchanges.
If you have experience at Exness, please comment and share it with everyone!
What is Exness Copy Trading?
Copy EXNESS Trading Trading under the name Social (Social Networks transaction) is a service that allows investors to copy the strategy by vendors setting strategy while allowing them the same profit.
In simple terms, if you have capital that is not doing well or does not have time to trade you can copy the trades of experienced traders and divide the commission for their profits (in the range of 0-50% depending on their order). If you are an experienced trader you can generate signals for other traders to follow for commissions.
This is a useful form for you to profit from the market from the experience and effort of others. However, you need to carefully review the strategic information first to see if the risks and trading styles are safe!
My advice is to choose signals with a low-risk safe style, avoid high-profit but high-risk accounts.
Exness Social Trading is very convenient when you can fully manage it via a mobile app. Note that App Social Trading is different from the Exness app!
You can read more about Exness Social Trading here
If you are on the phone, you can visit the Social Trading app
Deposit and withdrawal at Exness
You can deposit money into Exness in many different ways:
Visa, Mastercard.
Paypal.
Neteller, Skrill, Fasapay, ...
Bitcoin, USDT
Money
Vietnam Internet Banking
You can see more details of Exness deposit and withdrawal channels here
How long is the deposit and withdrawal time at Exness?
The fastest deposit and withdrawal of your Exness bank account among the brokers, Exness' withdrawal process is completely automatic so you can withdraw money even on weekends. Withdrawal to the bank accounts for almost only 3-5 minutes regardless of time.
A real funny story that I want to tell everyone is that there was a time when I went out to eat with my friends but in a hurry, I forgot to bring my wallet. Where the bank account does not have enough money to pay. I went to Exness from my phone and withdrew money from my account, luckily only 1 minute had money to pay. Save yourself a humiliation to see!
Perhaps for that reason, you see this review I praise Exness a lot. Just kidding, these are my real reviews!
Free deposit and withdrawal
Not only withdraw money with fast speed, when you deposit or withdraw money from Exness via Internet Banking, but there is also no fee.
Support USDT deposit and withdrawal
If you have just invested in Forex and Crypto markets, the deposit and withdrawal method via USDT is very convenient. During the time you wait for Crypto to reach a good price zone (maybe a few weeks to a few months) you can deposit USDT into Exness to take advantage of capital. When the price is good, you can withdraw USDT to buy crypto without having to buy USDT again on exchanges like Remitano or Binance (it takes a lot of transaction fees, and often the rate of USDT, when the Crypto price goes down, is very high).
An important thing when investing forex is that you should use the deposit and withdrawal platforms via Internet Banking Vietnam to make the deposit and withdrawal time faster and easier instead of other deposit and withdrawal forms. So that we can withdraw interest daily, weekly, or need to rotate the capital withdrawn will be faster.
Customer support at Exness
Exness supports many languages such as English, Arabic, Bulgarian, Czech, German, Spanish, French, Indonesian, Italian, Croatian, Korean, Malay, Portuguese Nha, Russia, Thailand, China, Traditional China, ...
Exness has 24/7 online support. However, with the Vietnamese language will be supported 16/5, outside of this time you can also chat with Google Translate.
Also, you can email for support, Exness's support time is relatively fast.
Documentation & Investor Guide
Exness has a variety of materials, videos, and seminars to assist investors from beginner tutorials to trading strategies. However, at present, these documents are in English and there is no supporting document for Vietnamese.
Open an Exness account
You visit the Exness.com page then select the Register button and fill in account information.
After filling in the information, you need to download the required authentication documents.
However, unlike other exchanges, you can deposit money into Exness and trade immediately when the account is unauthenticated with an account below $ 2000. After 45 days of registration and you have not completed the verification of your documents, you will only withdraw with the exact amount you deposited, and you will not be able to add more money to your trading account & Exness will close your account. friend. This is a great deal of flexibility for traders looking to trade right away as account verification will take some time.
Note: Any exchange will require you to complete your account verification to prevent money laundering. So, please complete account verification before making a deposit to trade
Documents to be prepared for account verification:
You prepare authentic documents such as Identification Card, Driver's License, or Bank Statement with personal information that matches the personal information you have registered.
Exness will browse information and send email notifications after browsing. If there is any additional information, Exness will guide you too. You can also chat with support via the chat window if you have any questions during the registration process.
Tip: Account statements you can use online statements to post by changing your Internet Banking language into English. Then, when you download the file, see if the personal information is correct, if the address is not correct, you can correct it, then export the file as a pdf and then upload it to Exness.
Frequently asked questions
What is the minimum deposit amount for Exness?
Depending on the type of account with different minimum deposits. You can trade at Exness with deposits starting as low as $ 1.
Which country is the Exness floor?
Exness Headquarters is at No. 1, Siafi Road, PORTOBELLO, Room 401, in Limassol, Cyprus.
To international exchanges the question "of which country?" It is not so important as they will have their own local subsidiaries to meet the legal and license requirements here.
What are the downsides of the Exness Exchange?
The disadvantages of Exness exchange are:
High spreads occur when the market is volatile or at night (mainly on currency pairs).
There is a minimum gap between the entry and exit points (greater than on sub-pairs), so it is not suitable for Scalping traders who want to place orders with only a few pips (if closing orders manually, it is still normal. )
Should I trade at Exness?
Depending on your trading style, your main requirements decide whether to trade at Exness!
About the reputation of Exness, you can rest assured. Exness is a very good exchange looking at all aspects.
This is an exchange chosen by many Traders and is also known as "National Exchange."
Should I choose the RAW or Standard account?
Depending on your trading style to choose the right account.
The RAW account is an ECN account that directly executes orders via the electronic banking system, so order execution is very fast. The spread of this account is very low, but you will lose the commission when trading.
Standard accounts will have a slightly higher spread, but in return, you will not lose any commission.
Main information: Exness
Trading platform: MT4, MT5, Web
Minimum deposit: 1 $
Maximum leverage : 9999: 1
ECN :300 $ (Minimum deposit)
Payment methods: Credit Card, Fasapay, Neteller, Skrill, CashU, Perfect Money, WebMoney
Account currency : AED · AUD · ARS · AZN · BDT · BHD · BND · BRL · CAD · CHF · CLP · CNY · COP · CZK · DKK · DZD · EUR · GEL · GBP · GHS · HKD · HUF · IDR · ILS · INR · JOD · JPY · KES · KGS · KRW · KWD · KZT · LBP · LKR · MAD · MXN · MYR · NGN · NOK · NZD · OMR · PHP · PKR · PLN · QAR · RON · RUB · SAR · SEK · SGD · SYP · THB · TRY · TWD · UGX · USD · UAH · UZS · VND · ZAR
Language: English · Arabic · Bengali · German · Spanish · French · Hindi · Indonesian · Italian · Korean · Portuguese · Russian · Thai · Urdu · Chinese ·
License : FCA, CySEC, FSA
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