Exness Review: this is the name of a Forex broker that is based in St. Vincent and Grenadines. Is exness.com a legit Forex broker or a scam?
We found that the company that owns EXNESS is a Cyprus registered one with the name, Exness (Cy) Ltd. It also has an offshore outfit in the St. Vincent and Grenadines region and one that is located in the UK as well. The broker is prohibited in the USA and Japan.
On the page, we find that the broker claims to have exactly what a trader needs to trade the Financial markets with confidence. They also mention that “behind every successful trader is an honest broker”.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit. On the website, a “Trader’s Calculator” is provided to work out margins, point profit, swap rates and more.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
Benefits of trading with Exness are summed up below:
Save Time and money (quick execution)
Transparent Tick History
Connect with Expert Support
Access Your Funds Instantly (automated withdrawal)
Exness Trading Platform
It is mentioned that Exness trading software is operated on a MetaTrader 4 and 5 platforms available to all their clients.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are: We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverages can reach up to 1: 2000 and while this is generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are said to start from as low as 0.3 pips.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal Methods on Exness
The means of making payments and withdrawals with this broker are: VISA, Skrill, Neteller, UnionPay, and WebMoney. We find that e-Wallets being allowed encouraging.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is placed at $1 which is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated but it is mentioned that withdrawals are carried out instantly.
Trading bonus is offered by the broker. This is a 30% cash back of the spread for each trade traders make using the any of its two accounts. It can be $0.75 for each round-turn lot but does not restrict withdrawals.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Is Exness Licensed?
Yes. The company behind exness is licensed by the CySEC as we have stated above. The offshore location allows it give higher spreads but issues are still within the jurisdiction of the commission.
The regulatory bodies like the FCA, FSCA, CySEC, AISC, FINMA, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
To reach the customer care agent of this broker clients are directed to use the Live chat link or Email link on the “Support” page.
One advantage that Exness has is that it is under a regulatory commission give traders some security. Its low deposit requirement is also encouraging as well as payment options. But if traders find it unsafe to trade with it because of its offshore location they can choose other regulated Forex brokers.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
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