Table of Contents
- EXNESS REVIEW
Is EXNESS one of the best Australian Forex Brokers? We conducted an in-depth review in March 2019 to find out the answer and bring it to you!
Another complete and unbiased Review from Engine Forex
Exness was founded in the year 2008 and has since rapidly grown to a solid force within the online broker community.
Exness started their operations from St. Petersburg, Russia, but the Exness (Cy) Ltd head office has since moved to Limassol, Cyprus and Exness Limited is registered at Kingstown, St. Vincent and the Grenadines.
Today, a large amount of traders have chosen Exness as their trusted broker, with their professional trading environment and support service. The company is also proud sponsor of the football team Real Madrid and their star player Cristiano Ronaldo.
Exness - Overview
- Max LeverageUNLIMITED:1
- Min Deposit$1
- SpreadFrom 0.0 Pips
- Cuts out Dealing DeskYes
Methods of deposit and offers
- Deposit / Withdraw
- Welcome offern/a
- Rebates Engine ForexComing soon!
SECURITY, MARGINS AND TECHNOLOGY
SECURITY AT EXNESS
- CySEC & FCA regulated
- Segregates client funds
- No dealing-desk intervention
Exness (UK) Ltd is authorized and regulated by the Financial Conduct Authority and is further permitted to provide financial products or services, within its permitted activity, in any other country in the European Economic Area (EEA).
Exness (Cy) Ltd is authorized and regulated by the CySEC. The CySEC is the supervisory and regulatory authority for investment services firms in Cyprus. CySEC is a member of the European Securities and Markets Authority (ESMA).
All clients’ funds are kept separate from the company’s and are securely stored in segregated trust accounts. The company guarantees that client funds are never used for operational or investment purposes.
Transparency, reliability and third-party verification are only a few of Exness’ attributes which makes them an ideal partner for any kind of brokerage relationship.
CHARGES AND MARGINS AT EXNESS
- Spreads from 0.0 Pips
- Up to UNLIMITED:1 leverage
Exness offers the choice between three unique trading account types that offer different advantages and features. Clients can further select between MT4 and MT5 as their trading platform of choice.
Minimum deposits range from $1 – 2,000 and customers can choose from a massive amount of more than 80 account currency options.
On all of Exness’ account options over 120 currency pairs can be traded with leverage settings of 1:2 and up to 1:Unlimited!
MT4 account options:
MT5 account options:
As you can see above, Exness doesn’t charge commissions on their Mini and Classic account options and only $25 per $1 million traded on their ECN account.
Spreads start from 0.0 Pips on their true ECN account, from 0.1 Pips on the Classic account and 0.3 Pips on the Mini account option.
Naturally, margin requirements increase when the funds available in a client's account increase. This is due to the increasing costs of hedging open orders. As a result, the relevant leverage setting is changing as well as can be seen in the below table.
More information on the full margin, leverage and hedging rules can be found on Exness’ transparent webpages.
- Reliable trade execution
- MT4 & 5
- Trading Central
The popular MT4 trading platform and its younger brother MT5 are both available for Exness clients and all the available account types.
Desktop, Web and mobile versions of both platforms are available and can be used from almost any device and operating system.
Technical analysis tools such as forecasts from Trading Central or trading signals from Autochartist can be implemented and used in one’s daily trading routine.
Trading Central doesn't give trading signals per se, but rather predicts the likely direction of the market based on the current conditions.
The popular Autochartist web application on the other hand analyzes charts and patterns to help predicting trends and outcomes of events in the market.
Free VPS hosting is further available and can be requested by any client.
Execution of Speed Comparison
CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES
AN OVERVIEW OF EXNESS's CUSTOMER SERVICE AND CLIENTS
- 24/7 customer support
- Selection of more than 120 Forex pairs
One of the greatest things about Exness is their commitment to being fully transparent but also that clients can contact the support team 24/7.
All customers can choose between three distinctly different account options with minimum deposit amounts, starting spread levels and other features. There is no maximum leverage limit on both the Mini and Classic account and a 1:200 maximum leverage on the ECN account option.
Exness solely focuses on Forex trading by offering over 120 currency pairs – from majors over minors and exotics – but no other trading products. Depending on your trading needs, this can be very beneficial or a limitation if you were looking to also trade metals, commodities, indices, cryptocurrencies, stocks, etc. for example.
FOREX AND OTHER TRADING OPTIONS AT EXNESS
- More than 120 currency pairs
- STP / NDD
- 3 account options
- Minimum deposit requirement from $1
As previously highlighted in our detailed review, Exness is a Forex trading only broker, offering more than 120 currency pairs.
No other financial product is available for trading at this point of time, but the large selection of currency pairs is a great plus. Any trader being interested in trading the Forex market exclusively should give Exness a go. Their trading environment, transaction speeds and overall offering is one of the best on the market.
Maximum leverage on Exness’ ECN account is 1:200 and commissions of $25 per $1 million traded are charged. ECN accounts need to be funded with a minimum deposit of $300 and as a true ECN type account, spreads can start from 0.0 Pips!
This ECN account is, in our opinion, the best option and must-have for all but especially professional traders that demand and require not only a stable and fast trading environment but also institutional grade spreads and execution.
The Exness Classic account has no maximum leverage limitation, runs commission free and starting spreads from 0.1 Pips can be accesses at liquid times. The minimum deposit requirement for this account option $2,000.
Lastly, the Exness Mini account has, similar to the Classic account version, no limitation on a maximum leverage level and runs free of commissions with starting spreads from 0.3 Pips. This account option is ideal for traders that want to get started with a low initial deposit as the minimum deposit requirement is just $1!
SPECIAL FEATURES OF EXNESS
- MT4 & 5
- Tight spreads
- Selection of over 120 FX pairs
Exness offers ultra-low spreads from 0.0 pips and unlimited leverage on most of their account options.
Order execution from 0.01 seconds.
More than 120 currency pairs – from Majors to Exotics – can be accessed with any account type.
Most trading types, such as Expert Advisors (EAs), scalping and hedging are allowed.
Metatrader 4 and 5 s are available as trading platforms on almost any device and all major operating systems.
Clients can choose to set their account in almost any currency (over 80 account currency options).
High transparency standards and excellent customer support.
All traders have access to tools like Trading Central or AutoChartist which is one of the best chart pattern recognition plugins on MetaTrader 4 and can be applied directly to the traders’ charts.
Max Leverage Comparison
Exness is focusing solely on the Forex trading market. Australian customers are currently unable to join Exness due to regulatory limitations. Customers from most other regions are accepted and can participate with a very solid broker that provides a very decent trading environment, superior spreads and a large selection of Forex pairs. Traders of all levels will find suitable account options with the option to apply all common trading styles such as hedging, scalping or Expert Advsiors.