Exness Review 2024 – Fees, Spreads, Pros and Cons

In the vast landscape of forex and CFD brokers, finding the right partner can make all the difference in trading success. This Exness review provides a comprehensive overview evaluating the broker across key metrics like trading costs, platforms, research tools, safety, and regulation. We dive into the pros and cons to reveal how Exness stacks up against leading alternatives like XM Group, OctaFX, and FXTM.

Exness Review 2024

Whether you are a beginner seeking tight spreads and demo accounts, or an experienced trader needing advanced order types and charting, this review aims to determine if Exness deserves your business.

By covering everything from payment methods, leverage policies, customer support localized in 15 languages, platform options, and more, we break down if Exness should rank among the top Forex brokers recommended for 2024.

Company

Exness was founded in 2008 in Saint Petersburg, Russia by a group of finance professionals and IT experts. Over the past 15+ years it has grown to now operate across over 120 countries with satellite offices in Cyprus, Singapore, Malaysia, and elsewhere.

As one of the largest retail forex brokers globally, Exness processes trading volumes of over $1 trillion monthly. It continues to invest in technology and compliance teams to further improve platforms, risk controls, and regulatory standards across its operations.

Today Exness employs over 2,000 professionals worldwide and holds licenses with multiple trusted regulators like CySEC, FCA, and ADGM. Its global presence and steady focus on trust and transparency continue to attract both new and experienced traders.

Account Types

Exness provides multiple account types tailored to traders of all experience levels:

• Standard accounts
• Professional accounts
• Social Trading accounts
• Portfolio Management accounts

Standard accounts are their most popular and feature-rich. These commission-free accounts allow minimum deposits from $1 for micro-lots trading up to 1:∞ leverage. Spreads start from 0.2 pips on 30+ tradable instruments.

Professional ECN accounts offer direct market access suited for high volume traders. The Raw Spread and Zero accounts provide fixed commissions in exchange for spreads from 0 pips and no requotes execution. The Pro account conversely has no commission but spreads from just 0.1 pips.

Social Trading accounts let clients become “Strategy Providers” where other traders can copy their portfolio performance and trading signals. These offer either stable, fixed spreads (Social Standard) or the lowest spreads from 0.6 pips coupled with higher minimums (Social Pro).

Finally, Portfolio Management accounts give access to tools for professional money managers to handle investor capital across various allocation models and leverage limits.

The range covers casual traders, scalpers, EAs traders, social influencers, money managers and beyond.

Deposits & Withdrawals

Exness provides traders with access to a variety of convenient and secure payment methods for funding trading accounts and withdrawing profits, as highlighted in many Exness reviews. Deposits can be made via bank wire transfers, e-wallet services like Neteller and Skrill, as well as Visa and MasterCard credit/debit cards.

Popular local payment methods are also available based on country and region. This includes options like China UnionPay, Qiwi, WebMoney, and more. Supported currencies include USD, EUR, GBP, and 20+ other global currencies.

Most deposit methods are processed instantly, allowing quick access to trading funds. Average withdrawal turnaround times are under 24 hours for e-wallets and debit/credit card withdrawals. Bank wire transfers can take 1-3 business days to reflect in personal accounts after being processed by Exness.

Trading Fees

The all-in costs for trading at Exness are very competitive compared to other forex brokers, as highlighted in many Exness reviews. For regular accounts using the MetaTrader platforms, the primary trading fee is derived from the spread, which starts from 0.1 pips on major currency pairs. Active traders can further benefit from using the Zero account, which charges a small commission of $20 per 1 lot round turn trade in exchange for zero spread trading.

For trades held open overnight, a swap/rollover fee is charged calculated as the overnight interest rate differential between the two currencies. Swap rates can be positive or negative depending on rate changes and economic conditions. Islamic accounts with an activated swap-free facility incur no overnight swap charges.

Finally, Exness charges account inactivity fees if there is no trading activity for 180 consecutive days. A 5 EUR/USD fee is charged from balances below $5, and 10 EUR/USD for higher balances. Many Exness reviews note this policy helps offset administrative costs for maintaining inactive accounts on the platform.

Trading Platforms

Exness provides traders access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms in desktop, web, and mobile versions. More advanced traders can also access the Exness Terminal platform which includes advanced trading tools like market depth data, trade sentiment indicators, algo trading support and more.

Additionally, the MetaTrader WebTerminal allows web-based MT4/MT5 functionality for convenience. Native iOS and Android mobile apps like MT4 Mobile and the Exness Trade app sync seamlessly with desktop accounts while allowing management and trading on mobile devices.

Between the assortment of MetaTrader variants and proprietary platforms like Exness Terminal, traders have flexibility to choose the right platform for their trading style, whether that relies on advanced technical analysis, expert advisors, or on-the-go access. All platforms come equipped with robust charting, 100+ technical indicators, order automation options and more.

Cryptocurrency Trading

In addition to 60+ currency pairs and CFDs on other assets, Exness clients can trade 15 major cryptocurrency pairings including Bitcoin, Ethereum, Litecoin and more against the USD or USDT stablecoin. Crypto trades face a maximum spread of 40 pips and leverage up to 1:5.

The broker offers crypto trading via both the MetaTrader 5 and Exness Terminal Platform with support for advanced orders and technical indicators. Clients can easily deposit & withdraw using cryptocurrencies as well as monitor their portfolio balance in BTC or USD terms.

For traders interested in speculating on Bitcoin and altcoin price movements, Exness provides an accessible gateway along with the security of working through a regulated brokerage rather than unprotected crypto exchanges.

Research and Education

Exness aims to provide more than just trading platforms – it also offers a wealth of learning resources and market insights. Daily updated market analysis and news feeds help clients track breaking currency and economic developments. For keeping up with major announcements, the economic calendar highlights upcoming financial events and data releases like central bank rate decisions or high impact employment figures.

For new traders still learning the ropes, Exness provides trading strategy guides, eBooks, video tutorials that dive into technical and fundamental analysis. The broker also frequently runs special webinars featuring guest speakers and analysts discussing latest forex themes and trading psychology lessons. Experienced traders can also benefit from the technical analysis tools and indicators built into the platforms themselves.

To further support automated trading, Exness provides access to Virtual Private Server (VPS) hosting. Clients can run trading robots and advisors 24/7 on a virtualized cloud computing environment for minimal downtime.

Customer Support

Exness prioritizes customer support and provides trading assistance via live chat, email, and phone support. Multilingual customer service teams are available 24/5 in over 15 languages including English, Chinese, Spanish, Arabic and more. This allows clients globally to receive help in their native tongues.

The support center is constantly updated with an extensive library of FAQs, user guides covering account management, deposits and withdrawals, platform troubleshooting as well as insightful trading resources. Support tickets also receive prompt responses within the hour during business hours.

Additionally, Exness provides dedicated account managers for its Unlimited and Raw Account offerings to provide personalized trading guidance, risk management advice, and educational support tailored to individual client’s needs.

Security and Regulation

Exness maintains trusted regulatory licenses in several major jurisdictions. The brokerage is authorized and governed internationally by the Cyprus Securities and Exchange Commission (CySEC) under the European MiFID standards for investor protection.

Additionally, Exness maintains licenses with other leading regulators like the Financial Conduct Authority (FCA) in the UK as well as licenses in South Africa, Kenya, UAE, Australia, and New Zealand.

Client funds held on account are maintained in segregated, tier-1 bank accounts for extra security. Exness operates under a no dealing desk execution model and trusted liquidity partners to prevent conflicts of interests. Robust data encryption, secure protocols, and infrastructure monitoring safeguard trader data and privacy.

The multiple regulations help provide an extra layer of oversight and compliance with territory-specific rules governing forex trading, fair pricing, reporting standards and license maintenance. This gives traders assurance they are working with a credible, certified and dependable broker.

Exness Pros and Cons

Exness shines for its ultra-competitive pricing, choice of trading platforms, and dedication to customer service. Traders can benefit from fractional pip spreads from just 0.1 pips as well as high 1:Unlimited leverage ratios to maximize potential profits.

A selection of desktop, web-based, and mobile trading platforms like MT4/MT5 provides flexibility. Beginner to advanced traders can find options fit for their technical needs and style preferences.

Multilingual 24/5 customer support, prompt processing times, and an abundance of learning resources also make Exness a supportive broker for novice and experienced traders alike.

In terms of drawbacks, the range of tradable products on Exness is mostly confined to forex, metals, energies, stocks, indices, and cryptocurrency CFDs rather than other features offered by other brokers like automated investment through robo-advisors. However, its strengths in traditional FX and CFD trading arguably outweigh the need for these fringe offerings.

Exness vs OctaFX vs FXTM

In this comparison, Exness stands out for higher leverage, tighter spreads from 0.1 pips in a zero spread account, proprietary platforms in addition to MT4/MT5, as well as social and crypto trading. OctaFX lags in assets while FXTM matches Exness closely on regulation but has wider average spreads.

Exness Review – Conclusion

To conclude this 2024 Exness review,  we can say that Exness stands as a recommended choice if you’re looking for a well-regulated and reliable international forex and CFDs broker. The combination of tight spreads from 0.1 pips, high leverage ratios, dedicated account management, and robust trading platforms makes Exness an ideal brokerage for active trading.

The multitude of regulations sandboxed across different regions also provides peace of mind that client funds and data security are treated as a priority. For testing its services yourself, we suggest signing up for a free demo account which mimics the features and functionality of real accounts with simulated trading funds. Embark on honing your forex trading skills risk-free.