Exness is a popular Forex broker among traders. It is regulated by the Financial Services Authority (FSA) of Saint Vincent and Grenadines. The company has offices in the following countries: Cyprus, Russia, Malaysia, China, Thailand, Indonesia, and the United Arab Emirates.
In this Exness review, we will look into the trading conditions offered by the broker and see if it is worth using as your broker of choice.
History of Exness Broker
Exness forex broker reported the average daily trading volume in April of 2019 reached $109.3 billion, up 21.6% from $90 billion registered in March and 24.4% above the $87.8 billion recorded in April 2018.
The company processed over 13 million client trades in the past month, with an average of 568,000 deals executed per day or almost 24 deals per second. The number of active traders (understood as clients who opened at least one order) totaled 70,429 in April 2019, 18% higher than in March 2019 but down by 6.7% year-on-year (YoY).
The number of new accounts was 9,543, up from 8,874 in March 2019 and 7,191 in April 2018.
The company has recently launched a new feature for its Islamic account holders that allows them to trade with zero interest charged on overnight positions for all major currency pairs and metals.
Trading Conditions at Exness
Exness is a forex broker founded in 2008. Since then it has grown in popularity and currently has more than two million active trading accounts. It is one of the most popular forex brokers in Asia, and it has representatives in China, Indonesia, Thailand, Malaysia, and Vietnam.
The broker offers many types of trading accounts for traders worldwide including the Standard ECN account and the Cent accounts. In addition to this, Exness offers a wide variety of financial instruments including CFDs and futures. The broker also supports many payment methods such as credit cards, bank wire, and even Bitcoin to allow you to deposit funds easily.
Exness is regulate by CySEC of Cyprus and FCA of Great Britain. These regulators are strict with the brokers they regulate, so you can expect Exness to be reliable as they have been approved by these regulators.
Exness is a well-established broker that has been around for more than 10 years. It is one of the most popular forex brokers in Asia due to its popularity among Asian traders. The broker accepts clients from almost all countries except the USA, Iran, Cuba, Syria, and North Korea (residents from these countries will be rejected).
What Exness Offers
Exness is a broker that can fulfill the needs of traders at all levels. It offers competitive trading conditions and a wide range of trading accounts.
Exness offers competitive trading conditions and a wide range of trading accounts. Starting with the Micro account, anyone can start trading. The Standard and Zero accounts offer more competitive spreads but require higher initial deposits.
The broker offers an impressive number of currency pairs, making it one of the best forex brokers in this category. Exness also provides oil and metal contracts for difference (CFDs).
Exness offers maximum leverage of 1:2000 which is not that typical among brokers in general. However, this high leverage can become dangerous to some traders who are not experienced enough to use it properly. The leverage will set depending on your account type when you open a live account. Since this is an ECN broker that works with the STP model, the spreads are variable and fixed at zero pips for some accounts with larger deposits. This way you can make trades directly with liquidity providers at interbank rates without any additional commission fees charged by Exness which makes trading here very competitive in terms of trading costs.