12 Jan. Exness Trade: Online Trading Apps on Google Play
Here, we evaluate the broker’s longevity in the industry, the company’s size, and its transparency. Exness is regulated by several financial authorities, including the FSCA in South Africa and CySEC in Europe. While the response time was a few hours, the detailed, step-by-step instructions made the process straightforward. Finally, a glossary of trading terms would help newcomers quickly grasp industry jargon and accelerate their lxcriticalg xcritical rezension process.
Data safety
These start from USD 0.2 per (0.4 round-turn) a lot but vary depending on the instrument you’re trading. It’s important to note that both the open and close commission is bundled together when the position is first opened. Minimum order sizes start from 0.1 lots and the account is integrated with both MetaTrader4 and MetaTrader 5, there’s also a greater number of account currency types to choose from. As for commissions, we’ve only been able to retrieve the information for USD rates, which is $3.50, a little higher than the standard average. Clients should keep in mind that accounts at offshore entities have limited regulatory oversight.
- Retail customers are assigned to entities regulated offshore, offering limited account protection.
- For example, the Exness Blog isn’t updated as frequently as brokers that produce dozens of daily content pieces.
- On the other hand, Exness’ offshore entity is subject to different regulatory oversight.
- Alongside the full MetaTrader suite, including both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), Exness offers its flagship mobile app, the Exness Trade app for Android and iOS Devices.
- I performed my tests with a Standard Account, using the Exness Terminal platform.
Where is Exness based?
The broker is known for its easy to use platforms and also a high level of transparency. Once your account is live, any further deposits will need to be at least $10. Once your account is set up (it shouldn’t take long to process), you’re ready to make your first deposit (the minimum is $200) and then proceed to select the account type which works best for you. Drawbacks we noticed include the lack of ability to set price alerts but strangely we can do this with the mobile version. The other missing feature is a lack of education and integrated research tools like connectivity to Forex news. The Exness terminal is built using HTML5 which ensures the browser loads fast and is secure thanks to advanced encryption.
Furthermore, the company regularly offers various bonuses and promotions to traders. Although Mini accounts don’t require traders to deposit a minimum amount, clients can only open about 100 positions at xcritical scam a go. Additionally, the spread might go up to 0.3, which is a bit higher compared to the 0.1 spread in the Classic and ECN accounts.
Exness Trade: Online Trading
The Zero account, designed for market execution, provides zero spreads on top instruments for 95% of the day, making it suitable for expert advisors. Lastly, the Raw Spread account, tailored for experienced traders, boasts ultra-low, stable spreads with a fixed commission per lot, no position limits, and market execution. Exness is a strong choice for beginners due to its user-friendly trading platforms and educational resources. The broker offers popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are known for their intuitive interfaces and extensive support materials.
Reviews
The Exness Terminal platform offers standard order types like market orders, limit orders, and stop-loss orders. Trailing stop loss orders are not available, and applying time-in-force conditions to orders is impossible. It offers its well-designed and user-friendly Terminal platform, along with the classic MetaTrader 4 and MetaTrader 5 platforms that feature advanced functionality like algo trading.
MT5, the more advanced platform, offers a broader range of features, including additional technical indicators, diverse order types, and access to multiple asset classes. Exness offers a strong array of instruments for short-term trading notably over 100 currency pairs, in addition to cryptocurrencies, commodities, indices, and stocks. Exness has refined its account options over the years, notably introducing commission-based accounts like Raw Spread that will appeal to day traders. In addition to offering the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, Exness also provides its Terminal web platform which features robust charting and order types in an otherxcritical minimalist design.
The Pro Account is much the same as the Standard Account but has instant execution instead of market execution. Instant order execution is available for assets across forex, metals, indices, energy, and stocks but not cryptocurrencies and is a good choice if you want greater control of your orders. Overall, while these spreads aren’t bad, they’re also not the best, so if you’re looking for a broker with the tightest spreads, you can read our analysis on the Lowest Spread Forex Brokers. Exness does claim to have an average of 0 pips as shown above for selected certain currency pairs and this stands out since no other broker claim this. Everything you find on The Price Trader is based on reliable data and unbiased information. This robust regulation ensures a high level of security and transparency, making Exness a reliable choice for traders around the world.
The Standard account has no commissions, and spreads are kept relatively low. Exness is a legitimate broker based on its strong track record, transparent operations, and positive reviews both from its large user base and our years of personally testing the firm. Exness needs to seriously improve its education – it’s a woeful offering that makes it less suitable for beginners. The only noticeable omission is Exness’s need for valuable in-house analysis reports to educate and inform beginner traders.
