Exness Broker Review
Exness is an online Forex broker that was established in 2008 in St. Petersburg, Russia. Since then, this broker has grown from strength to strength. This is not surprising as the company is one of the rare breed of online Forex brokers that practices transparency in its business operation. In terms of market innovation, Exness can be still considered an old school broker as it has yet to adopt the social networking concept of Forex trading. Nevertheless, this broker is still highly rated by its clients solely because of the quality of its services as indicated by the $450 billion worth of business done so far in just 2012.
EXNESS offers tight floating spreads on three different trading accounts: the Mini, the Classic and their ECN accounts. No minimum deposit is required for the Mini account but only 100 positions can be open at one time. Also the spread is 0.3. The spread in the other two accounts is 0.1 and there is no limit in the amount of positions you can hold. The Classic account requires a $2000 opening deposit and the ECN $300. Trade execution is immediate for all accounts. ECN accounts have direct access to Interbank liquidity.
Funds can be deposited using a wide variety of deposit and transfer possibilities including Neteller and Skrill. One of EXNESS’s main advantages is its instant withdrawal of funds using a number of electronic payment systems, providing traders with around-the-clock control of their trading accounts’ funds.
MetaTrader 4 and the newer MetaTrader 5, with its enhanced terminal interface, increased performance and speed, are the trading platforms of choice at EXNESS as they work well with currency pairs, CFD’s, and futures. In addition, traders can use EXNESS’s newly introduced Webtrader, an online trading platform for trading on EXNESS MT4 servers directly through a browser, without installing an application on your computer. Webtrader has a convenient interface and powerful features capable of creating a comfortable trading environment on almost any computer or mobile device.
While doing this forex review, I was pleased to see that EXNESS offers a trial (demo) account which can be accessed and set up right from the very first page. This demo account uses any of the three live trading accounts.
The landing page at EXNESS is very clear and can be easily navigated. In addition to their currency converter and list of different spreads, both their express news and economic calendar are located on this page.
EXNESS is one of the only forex brokers I have reviewed that provided a ‘search’ button that when clicked actually directs you to the appropriate page. A generous listing of links to appropriate sites is provided.
Another feature that sets EXNESS apart from the others is its ‘commission-free transactions’ which began on February 1, 2014, and virtually cancels commissions for replenishing trading accounts and withdrawing funds for all payment systems. This ability is certainly unique in today’s market.
The official EXNESS website is available in 23 languages and client support is available in 13 languages; three of them, English, Chinese, and Russian, are offered 24 hours a day, 7 days a week. Clients have access to 1:2000 leverage, which lowers the margin requirements considerably and allows trading strategies to be managed in a flexible manner.
All in all, I found my broker review of EXNESS to be a pleasant experience. The information is precise and navigation throughout the site runs smoothly. EXNESS’s popularity can be evidenced by the continuing number of clients reported each year. In February of this year, close to 17,000 new accounts were opened.
Date posted: September 10, 2014