Exness is a FSCA-regulated CFD broker that offers trading in Forex, cryptocurrencies, and metals. Exness offers some of the most competitive spreads in the industry, as well as a low minimum deposit. However, its selection of financial instruments is smaller than similar brokers. What are the reviews on exness kenya?
Exness offers market and instant execution accounts, as well as full support for MT4/MT5 on both standard and MT5 accounts. All deposits and withdrawals are free and available 24/7 to customers.
Although Exness’s trading costs are lower than the industry average, it has poor education and market analysis compared to major brokers.
- Very well regulated
- Tight spreads
- Large range of assets
- 24/7 customer service
- Limited education
- Limited market analysis
- In Europe, it is not available
Is Exness safe?
Exness, a relatively young broker, was founded in 2008. It has been regulated since 2016 by CySEC (license: 730729), since 2012, CySEC (License number 178/12), and the FSCA(FSP:51024), starting 2020.
Exness is also a member the Investor Compensation Fund. This fund protects and secures the claims of clients covered and provides compensation for those instances when the Fund can’t meet its financial obligations.
Exness is considered a more traditional broker in terms of market innovation by traders. This is due to the fact that it does not include a social trading component. However, this does not appear to have had any negative effect as Exness consistently generates 450 billion USD of business each year.
Exness has some of the most competitive trading conditions in the industry. All trades are executed directly on the market without intervention. Exness offers a low-cost cent account, unlimited leverage on professional accounts, and a broad range of assets for trade. This ensures that the product offerings will appeal to all trader types.
Types of accounts
Exness offers two professional trading accounts as well as three standard trading accounts. All accounts can be swapped for Muslim traders. All account types have MT4 support, but it is somewhat restricted to MT5 support. Please see the details below.
Market execution is available on all accounts, except for the Pro Account which provides instant execution for all CFDs, other than cryptocurrencies.
Standard Cent Account This account is great for beginners who wish to trade Forex without taking too much risk. This account is only able to trade metals and currency. MT5 is not supported.
Standard Account This account requires a minimum of 1 USD to open and trades conditions are similar to the Cent Account. However, you will have access MT5 as well as other assets including cryptocurrencies.
Spread Account – Minimum deposit 500 USD and 3.50 USD Commission, but spreads starting at 0 pip. Available on MT5.
Pro Account is the single instant execution account that Exness offers. This account requires a minimum of 500 USD deposit, spreads starting at 0.6 pip and has no slippage. Available on MT5.
Zero Account: Minimum deposit 500 USD and 3.50 USD Commission, but guaranteed 0 Pip Spreads for 95% trading days on 30 pairs. Also available on MT5.
Spreads and Commission
Spreads are generally lower than Exness’ competitors, even on the Cent Account which can be as low at 0.3 pipips. However, they average 1 pip for the EUR/USD.
Commission is not charged for two Professional Accounts. The industry standard is 3.50 USD per lot.
Withdrawals and Deposits
You can deposit funds in a variety of ways, including Credit Cards and bank wire transfers, Neteller and Skrill, as well as via credit cards, bank wire transfer, Skrill, Neteller, Skrill, and other online payment methods.
Exness offers a system that allows for automatic withdrawals of funds using a variety of electronic payment systems. This gives traders 24/7 control over their funds. The same method used to deposit funds is used for withdrawals.
For Beginners: Exness
Although Exness isn’t the best at market analysis and education for beginners, it has enough material to help new traders. But you can also look into octafx vs exness to know if exness is good for beginners. Exness’s education section is particularly useful. Market research and analysis are also well-presented, but not exciting. However, customer support is exceptional.