Jan 01 2022 0
Exness broker is a Forex Broker that provides online Forex services on multiple platforms such as MT4, MT5, Mobile and Web platforms. It is founded in 2008 by a team of professionals in the field of finance and information technology. Exness has three entities, which are Exness VC, Exness CY, and Exness UK. Today, I will break down the similarities and differences between the three companies.
Exness Limited (VC)
Exness Limited (VC), or Exness VC is registered in Saint Vincent and the Grenadines. This branch is mainly for all traders except ones in these areas: UK, US, Canada, Australia and Japan. The website address is www.exness.com, with .asia for many Asian countries including Indonesia, .ru for Russia, and .cn for China. It has seven real servers, including Exness-Real, Exness-Real2, Exness-Real3, Exness-Real4, Exness-Real6, Exness-Real7, and Exness-Real11, two demo servers (Exness-Trial and Exness-Trial2), one demo server MT5, and one real server MT5. Clients from this area can open all 4 types of Exness accounts (Cent, Mini, Classic, and ECN). However, corporate accounts cannot be opened at Exness Limited. Metal currency accounts whose currency is gold or silver or other precious metals are only available for Mini and Classic accounts. Its clients can trade everything available on Forex, which are currency pairs, metals, and cryptocurrency. The payment methods vary from electronic payment systems, local bank cards to wire transfer. Out of the three entities, only Exness VC has bonus programs.
Exness VC is not regulated by any regulatory body. At first, that might sound a little dangerous, since you are not protected by any laws. However, actually, Asian clients are not protected by any laws even if that broker has United States or Europe license. Though there is no regulation, Exness Limited (VC) is still unofficially operated under the Cyprus Securities Exchange Commission (CySEC), which is applied to Exness (CY) Ltd. Moreover, in my opinion, what really makes a broker reliable is their credit or what they did. Even when they are not regulated, Exness still make a segregated account to make sure their clients won’t lose their money in case of a crisis. You can check it on the website. So there you have it, a platform with no license (which means low cost) but still have a certain level of security.
Exness has a very good customer service systems. They have 24/7 customer care available in Chinese, Thai, Indonesian, Vietnamese, Persian, and Russian. You can contact at any time possible, which is really helpful for beginner traders.
It is audited by Deloitte Touche Tohmatsu Limited (Deloitte), an international professional service network based in the UK, one of the “Big Four” accounting organizations in the world. Therefore, you can rest assured about the transparency and the security of the company.
Exness (CY) Ltd.
Its website is www.exness.eu. This entity is registered in the Republic of Cyprus. As mentioned above, it is regulated by CySEC, which is the financial regulatory agency of Cyprus. This entity is mainly for clients from Europe. It only has one real server (Exness-Real5) and two demo servers (Exness-Trial and Exness-Trial2). Its clients can only open two types of Exness accounts, which are Mini and Classic. Unlike Exness VC, clients of Exness CY can open corporate account, however, metal currency account is not available. As of Forex trading, they can only exchange currency pairs and metals. The payment methods are the same as that of Exness Limited, which include electronic payment systems, local bank cards, and wire transfer.
Exness (CY) Ltd. is regulated by the Common Reporting Standard (CRS), which means they have to get the Taxpayer Identification Number from their clients to prevent tax evasion and help protecting the integrity of tax systems. They also have a cross border registration, which let them apply their license to multiple countries in a region. Similar to Exness Limited, their auditor is Deloitte.
Exness (UK) Ltd.
Based in the United Kingdom, Exness (UK) Ltd. is the latest entity to be founded. It is regulated by Financial Conduct Authority (FCA), a financial regulatory company in UK, but it operates independently of the UK Government. The website is www.exness.uk. As in its name, it is mainly for clients from the United Kingdom. It has only two servers, which are a real one (Exness-Real10) and a demo one (Exness-Trial3). Clients can open only one account type, which is Classic, and the initial deposit is 500 dollars. Why so? Because the FCA requires a periodic fee to provide its statutory duties. Corporate and metal currency accounts are not available but they are planning to add them soon in the future. Same as Exness CY, traders can only exchange currency pairs and metals with Exness UK. The payment methods are just the same as that of Exness Limited and Exness CY.
Its auditor is AGK Partnership Ltd., an accounting company based in London.