Exness Review 2023 — — Is Exness a Good Broker?

Online Money Making
7 min readFeb 21, 2022

Affiliate Disclosure

We adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Exness is a leading Forex broker with exceptional order and volume statistics. It also ranks highly in the client withdrawal category, with $1.1+ billion in quarterly withdrawals. Traders get the MT4/MT5 trading platform plus two proprietary alternatives, ultra-low trading fees, and flexible leverage. I conducted a comprehensive Exness review to evaluate if the Exness trading environment offers traders a competitive edge. Should you open an account with Exness?

A leading Forex broker with ultra-low trading fees and superb trading statistics.

I like the trading fees at Exness and the absence of swap rates on leveraged overnight positions on several assets. It ensures traders can have a competitive edge, generating more profits from existing strategies versus more expensive brokers. Exness also has excellent order and volume statistics, confirming a cutting-edge trading environment and infrastructure.

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. Exness presents eight regulated entities and maintains a secure trading environment.

Is Exness Legit and Safe?

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. Exness has eight regulated entities and maintains a secure trading environment.

I like that Exness offers an investor compensation fund to all clients via the Hong Kong-based Financial Commission, the primary independent external dispute resolution (EDR) organization for the Forex market, covering claims up to €20,000.

Please Note:

The average trading costs for the EUR/USD at Exness are:

Here is a screenshot of Exness fees during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.

One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

Below is a list of trading cost examples for buying and selling the EUR/USD and holding the trade for one night and seven nights in the commission-free Pro account.

Taking a 1.0 standard lot buy/sell position, in the EUR/USD, at the average spread and holding it for one night will cost the following:

Taking a 1.0 standard lot buy/sell position, in the EUR/USD, at the average spread and holding it for seven nights will cost the following:

Asset List Overview

Exness Leverage

Exness leverage ranges from a minimum of 1:2 to a maximum of unlimited leverage, depending on the geographic jurisdiction of traders and the asset. Unlike many brokers who restrict equity leverage to between 1:5 and 1:20, Exness offers from 1:500 to unlimited. Given its flexible and dynamic approach to leverage, Exness adds another layer of competitiveness, but traders must ensure they execute risk management to avoid magnified losses. Exness offers negative balance protection, meaning traders can never lose more than their deposits.

Noteworthy:

Exness offers five account types plus a demo account. The commission-free Exness Standard and Exness Standard Cent account are ideal for casual and beginner traders. The margin call level is at 60%, and the minimum trade size is 0.1 lots and cent lots, respectively. The Exness Standard Cent account is also an excellent option for traders to test new strategies, EAs, and signal providers. The minimum deposit is $10 or payment processor dependent, and Exness notes that 80% of clients select the Exness Standard account.

The Exness Pro, Exness Zero, and Exness Raw Spread accounts are commission-based choices for demanding traders. The margin call level is at 30%, the minimum trade size is 0.1 lots, and the minimum deposit is $200, which is low considering the competitive pricing environment.

The account base currencies are AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZARAMD, AUC, BGN, CAC, CHC, CLP, COP, CZK, DKK, DZD, EUC, GBC, GEL, HRK, ILS, ISK, KGS, LBP, LKR, MAGUSD, MAUUSD, MBAUSD, MBBUSD, MBCUSD, MBDUSD, MPDUSD, MPTUSD, NOK, NPR, PLN, RON, RUR, SEK, and SYP. It represents the most comprehensive availability versus all competitors.

Exness Demo Account

Exness automatically opens a $10,000 demo account upon registration, and traders can open up to 100 MT4 and 100 MT5 demo accounts from their Exness Personal Area. They are entirely customizable, and traders can manage multiple accounts via the back office. Exness will delete MT4 demo accounts after 180 days of inactivity and MT5 ones after 21 days. I like that Exness understands the requirements of demo usage for advanced and algorithmic trades by offering customization and unlimited access.

I want to caution beginner traders in using demo trading as a simulation tool, and they should consider the limitations. Demo trading does not provide exposure to real trading psychology and can create unrealistic trading expectations.

Exness deploys its lightweight, user-friendly, web based proprietary Exness Trading Terminal, complemented by the mobile trading alternative Exness Trade App for Android and iOS devices. The former features 50 drawing tools and 100 indicators, and the latter has 24/7 in-app support, but both are only available for MT5 accounts and only support manual trading strategies.

Traders can also rely on the market leading MT4, the primary choice for algorithmic trading, and MT5. Both trading platforms feature built-in copy trading services, and the MT4 trading infrastructure remains the most versatile, with 25,000+ add-ons, custom indicators, and EAs.

Overview of Trading Platforms

Exness received numerous awards for various aspects of its competitive trading environment.

Among the most recent ones are:

  • Best Customer Support Award at Financial Markets Expo Cairo 2021
  • Premium Loyalty Program Award at Financial Markets Expo Cairo 2021
  • Most Innovative Broker at Dubai Expo 2021
  • Most People-Centric Broker at Traders Summit 2022
  • Global Broker of the Year at Traders Summit 2022

Education is not available, but Exness targets experienced traders, making the absence of educational content irrelevant to the business model of Exness.

I recommend beginners who want to trade with Exness seek in-depth education from third parties available for free, including trading psychology, before opening an Exness trading account. Beginners should always avoid paid-for courses.

Customer Support Methods

Website Languages

  • English
  • Spanish
  • Arabic
  • French
  • Japanese
  • Other
  • Chinese
  • Russian
  • Portuguese
  • Malay
  • Thai
  • Bahasa

Exness provides customer support 24/5 in English, Chinese, Thai, Arabic, Indonesian, Hindi, Urdu, Bengali, Vietnamese, Japanese, Korean, French, Spanish, and Russian. 24/7 customer support is available in English, Thai, and Chinese. The Help Center attempts to answer the most common questions, while live chat offers the most convenient method for non-urgent matters. I like that Exness provides phone support, which is ideal for emergencies.

Exness neither offers bonuses nor promotions, but it maintains a high-paying partnership and affiliate program with up to 40% revenue share or $1,850 per client. Exness notes 119,000 partners, $1B+ in affiliate payouts, and $2.9M as the top monthly affiliate payout.

Exness is a multi-regulated broker, and account verification is mandatory. Most traders will pass verification after submitting a copy of their ID and one proof of residency document. Exness might ask for additional information on a case-by-case basis.

Minimum Deposit

The minimum deposit at Exness is $10 for commission-free accounts and $200 for commission-based accounts.

Payment Methods

Accepted Countries

Exness accepts traders from most countries and is one of the most accessible brokers, except for traders who are US persons.

Exness does not levy internal deposit or withdrawal fees and processes most withdrawal requests to e-wallets within seconds, but it may take up to 24 hours. Bank wires can take up to three business days, and credit/debit card withdrawals up to five days. The name on the payment processor and the Exness account must match, and if traders use multiple payment processors to deposit, they must withdraw in equal proportions.

For example, making a $700 deposit via debit card and $300 via Skrill means a trader must withdraw 70% of profits via the same debit card and 30% via Skrill. Exness will highlight recommended payment processors, identifying the best methods filtered by the geographic location of traders and withdrawal experience by Exness.

I like the trading environment at Exness for its low trading fees, flexible leverage, swap-free trading on select assets, choice of account base currencies, supported payment processors, and order execution statistics. I rank Exness among the most trusted brokers, and the investor compensation fund adds a layer of safety.

Exness is an excellent Forex broker due to its broad-based sector coverage with 97 currency pairs. The partnership program is an outstanding and high-paying option for those seeking passive income opportunities.

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Online Money Making

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