BRKV – Writing this Exness reviews reminds me of the past. When I started my trading career, as most beginners, I want to trade at the best forex broker. And I naively thought that I could find out who is the best just by reading the reviews on the Internet. Actually, it isn’t easy to find out that best broker because every review leads me to different best forex brokers. Finally, I listed down some forex brokers that I thought were the best, because they appeared the most in those reviews. I created accounts on these brokers, deposited, and started my tests to find out the best forex brokers.
But then I realized there are different types of traders. Each has his/her own trading styles and strategies. So a broker may be the best for one but not good for another. It was when I learned that I should find a broker that is among the best and also suits my trading strategies. And I found Exness, the most suitable forex broker for me. Let me explain.
TLDR: Check this video about why you should choose Exness:
After 5 years of trading forex, I’ve come to combine a set of standards that I think the best forex brokers should meet. Those are:
|Trustworthy||Trading costs||Trading conditions||Local services|
|Regulations||Low spread||Good quotes||Payment system|
|Historical activities||Low commission||Trading platforms||Local offices|
Based on these criteria, Exness is the most suitable broker for me.
BRKV - This 11-year-old broker is loved and appreciated by most traders. So far, their services have been proved to be very good. Whenever I ask my trader friends for opinions on Exness, here are the most common answers:
|Instant payment system||
Let me explain why most traders think Exness is fair play. For the last 10 years, there have been many big events/news that made the currency price drop thousands of pips, causing high slippages, gaps… And of course, most traders lost. Only a few brokers compensate for their clients and of course Exness is included. They compensated more than $15 million when there was the CHF event on January 15th 2015. They also compensated a lots whenever there are problems with their system such as the DDOS incident in 2016.
Some traders told me that they put their trust in Exness forex broker because Exness is rich. That’s true. Exness always has around $200 million in segregated bank accounts. This amount of money is 4 times bigger than the total of their clients deposit amount and will be used to compensate customers when there are problems. Also, Exness has acquired CySEC and FCA regulations. This makes me confident to deposit tens of thousands of dollars to Exness without hesitation.
Check Exness regulations
Exness has been the biggest retail forex broker in the world since 2015. Last May, their total trading volume went up to $395 billion. This is much higher than their main competitor Forex.com. Forex.com monthly trading volume is $500 billion but only $300 billion are forex. The rest is commodity trading volume. For me, the biggest forex brokers should be the most prestige. They are the biggest forex brokers because most traders choose them. Then why shouldn’t us? If you want know more about Exness reputation, just ask your trader fellows. I think most of them are trading there.
Moreover, Exness is the most transparent broker. You can find out all information about this broker on their website such as: trading volume, number of active clients, clients deposit, or company fund… There are no other brokers who can compete with Exness in transparency. Transparency is important because you can check broker financial situation to make sure it’s safe for trading.
Check Exness financial reports
If you are looking for a no-commission broker, Exness is the best option for you. They offers 4 types of account, 3 regular accounts and an ECN account. Exness doesn’t charge commission for the regular accounts, which are:
When I say no commission, I really mean it. There’s absolutely no other hidden fee that you need to be worried about. You only have to pay for spread when trading Exness regular accounts. And Exness spreads are the lowest. Their spreads are from at least 0.1 pip. Classic account is the lowest spread account, but you have to deposit at least $2000 to start trading this account. Other accounts spreads are a little bit higher but there isn’t minimum deposit limitation. Check all Exness spreads here.
I have created accounts at all the lowest spread brokers to compare their spread. I found that Exness spread is the lowest for 7 main currency pairs. Most of them are lower than 1 pip. In a stable environment, they are from around 0.5 to 0.8 pip. It’s amazing, because most other brokers charge around 1.7 pips. Exness crypto-currencies spreads are the lowest also. They only charge around $3/coin for Bitcoin trading, $0.01 for Ripple, and $0.5 for ETH. The day I wrote this article is a volatile day. The Bitcoin price had just jumped from 6,2k to 6,5k, but Exness Bitcoin spread is still very low.
Moreover, Exness doesn’t charge swap for cryptocurrency trading. Swap is a part of spread. So, that’s why I can say their cryptocurrency spread is the best.
Start trading cryptocurrencies with Exness today.
For ECN account:
As other brokers, Exness charges commission (because the spread of ECN account is nearly zero), but they only charge $2.5 for each lot. This commission is about 50 – 90% lower than other ECN brokers. As usual, other ECN brokers charge from $3 – $5 each lot trade (one side). Moreover, Exness ECN spread is very low. EUR/USD spread is zero, and USD/JPY is 0.1 pip. This is an extremely low spread that no brokers can compete.
You can check these spread number easily by yourself by creating an account in Exness, login and check within 5 minutes.
Create Exness Account
As I have said above, Exness offers 4 types of accounts which are suitable for both beginners and professional traders. They are Cent, Mini, Classic and ECN accounts. Cent account is suitable for beginners. Mini and Classic accounts are for professional traders and ECN account is for experts.
Choosing the suitable account types is very important to succeed in trading. That’s why most brokers offer different account types, because you can only be successful in trading if you trade the suitable accounts.
Cent account is the best account for beginners because beginners don’t have much trading experience. They need an account that allows them to deposit a small amount of money, lets them trade small positions, and has low margin requirement…
Exness Cent account is perfect for starters because its trading conditions are:
Most professional traders like Exness Mini and Classic account because of their good trading conditions. Scalpers like low-spread accounts. Long-term investors like swap-free accounts, and of course the lower the spread, the better the accounts. These accounts are good because:
Most traders have researched and learned that ECN account is the best account, because trading ECN means you are trading in the real market, but it isn’t easy to trade ECN. It is because ECN quotes are more volatile than regular accounts’. Also, you also have to pay commission for each trade. That’s why most less experienced traders prefer regular accounts to ECN account.
But if you are an expert, you should trade Exness ECN account because: The lowest spread ever. Spreads are from 0 pip. Sometimes, they’re even 0 pip. This is the lowest spread in the market. Exness gets ECN quotes from 3 big banks and 1 ECN broker. Their system will automatically get the best quotes from these liquidity providers. That’s why they can offer the lowest spread and lowest slippages. It is because they the best quotes from the best liquidity providers.
The lowest commission ever. All forex brokers charge commission for trading ECN accounts, because the spread is nearly zero and the liquidity providers will get these spreads. So, the brokers’ income is now commission. While other brokers charge from $7 – $10 each lot, Exness only charges $5. This is the lowest commission rate. They can charge the lowest commission because they are the biggest forex retail broker. The bigger the scale, the lower the cost.
Exness group has 3 companies, which are VC, CY and UK. Most of their clients register accounts under VC, because the VC accounts have better trading conditions. Exness has 5 official offices in Cyprus, China, Malaysia, Singapore and Thailand. Their support teams are based in Malaysia. They support many languages such as: English, Chinese, Thai, Bahasa, Arabic, Urdu, and Vietnamese… They support 24/7 for Thai, Chinese and English. For the rests, they support 16/5.
So, if you speak these languages, you will get the best support. After registration, you will get support from the sales team (Yes, they called me right away after I created an account). They will call and guide you step by step if you are fresh. Whenever you have questions, you can get the responses instantly in Exness Live Chat. I’m very satisfied with their support team. Most beginners have a lot of questions, troubles when they start trading. So, choosing brokers that support them in their mother languages is the best option.
Check Exness contacts
If you are a forex trader from Asia, you should pay extra attention to the broker’s payment system, because most Asian countries aren’t rich countries. So, they are using backward payment systems that most brokers don’t support. It’s very difficult for these traders to deposit to the brokers. That’s why sometimes, Asian traders will choose a broker because of their good payment systems only.
Exness offers the best payment systems for Asian countries. Especially for China, Thailand, Indonesia, Vietnam, and Pakistan. In these countries, traders can deposit by local banks, internet transfer, mobile payment, e-wallet, CC and more. The good thing is that if traders use local payment methods, Exness will pay 100% transaction fee and they can get better exchange rate. This is so amazing because back when I didn’t know, transferring through Visa always cost me 3-5% of the money, which frustrated me.
For traders who aren’t in these countries, they can use Credit Card, Wire transfer, Neteller, Skrill… There are tons of different payment methods that are the best options for them, because Exness doesn’t charge any deposit and withdrawal fee.
Check Exness payment systems
Based on my experience with Exness, the deposit/withdrawing process of this broker usually take less than 5 minutes to proceed. 5-minute is when your Internet is slow. If you have good connection, Exness withdrawal usually takes only 1 minute.
Traders can deposit and withdraw by local payment methods in most countries.
There are various international payments methods that traders can use wherever they are. And Exness doesn’t charge fee.
Exness payment systems are instant. Most transaction are instant. You can get your money in seconds while other brokers take some hours to some days to withdraw.
In March 2019, Exness launched its cutting edge social trading platform. It is the best tool for investors who don't have too much time for forex trading. On this platform, you can choose a successful forex trader and copy their trades. If that trader makes profits, you also make profits based on the ratio between your funds. Learn more about Exness social trading now.
Before 2015, there were a lot of complaints about Exness slippages, especially when there are important news. After that, they invested a lot of money to improve their servers. Now, if you check their server speed. It’s the fastest. This action shows how much Exness cares about their clients’ trading experience. Moreover, they also support free VPS for most of their clients to improve the connection speed. That’s why there are less slippages now.
BRKV - Also before 2015, there are many MT4 disconnection errors and no-quotes for ECN. They improved this by working with more liquidity providers. Instead of working with 1 – 2 liquidity providers, Exness cooperated with 4 liquidity providers, and chose the best quotes among these liquidity providers. That’s why after 2015, you seldom encounter these type of errors. Their quotes are much better. This is also the answer for the question why Exness quotes are different from other brokers. The quotes of all brokers are different because they get them from different liquidity providers. And Exness’ quotes are good and stable because they optimize the quotes acquiring process.
You can easily test it by yourself. I just checked and found that Exness server speed is 5 times faster than other brokers. Let’s test it and see the results now!
Swap is also a kind of trading cost. So, the lower the better. Exness offers free swap account for Islamic countries. If you aren’t in the Islamic countries, you can get free swap for trading Cryptocurrency. Check Exness no swap accounts
You can install any EA you want. You also can ask for free VPS to host your EA which runs 24/7. You also can install robot trading. Some of my friends have won a lot of money from robot trading, but it’s not easy to find a good robot.
Actually, before starting trading with Exness, I also read these Exness broker reviews and worried about that, but after 3 years trading there, I knew exactly why.
Many traders said that Exness quotes are different from other brokers. As I mentioned above, all brokers’ quotes are different because they get quotes from different liquidity providers. So, it’s normal if Exness quotes are different. They are different and they are better.
Example: In December 2017, Bitcoin hit the highest price ever, nearly $20,000. This is the ask price. While Exness Bitcoin ask price was just $19,500. You see, Exness quotes are $500 better per coin. You can check these number in MT4 history! In terms of Bid price, Exness is also better.
There are many complaints saying that: chart prices didn’t hit stop loss price but Exness close their positions as stop loss. These are common complaints. Since the price in MT4 is bid price, if you open a sell position, it will be closed by ask price, because bid price is lower than ask price. Sometimes, MT4 chart price didn’t hit your stop loss price but positions were closed because the bid price hit stop loss. That’s why, as usual, I set up MT4 to show both Bid and Ask prices.
Check Exness trading platforms
The last thing I would like to share with you today is my trading experiences with Exness:
Exness is a Forex Broker that offers people online Forex services on many different platforms such as MT4, MT5, Web and Mobile platforms. Exness is founded in 2008 by a group of finance and information technology professionals. The founder of Exness is Petr Valov. Exness has three entities, which are Exness VC, Exness CY, and Exness UK. Exness headquarter is in Cyprus, and its operation offices are in United Kingdom, Malaysia, and Singapore. If you want to contact them, just go to www.exness.com/support. You can chat live, call them or send them an email.