Is Exness reliable or a scam broker?
Many traders asked me that: “Is Exness reliable?” Because there aren't many reviews about this broker. And there are some comments even say that Exness is a scam broker. So that why I’m writing this review to help you understand more about its advantages as well as disadvantages.
Generally, all brokers have its strengths as well as weaknesses. So it is more important that you have to know whether it is suitable for you, your trading strategies. For me, Exness broker is a reliable broker. I have traded in Exness for 5 years. It’s trading conditions are very good. Actually, professional traders like Exness more than beginners. Because Exness offers the best trading conditions for experts and they seldom offer bonuses as beginners like. Here are why Exness is good for trading.
Exness can not be a scammer because they're too big
The total trading volume of Exness last month is 785 billion dollars. To let you know how much that is, Forex.com's trading volume is around 400 billion dollars. Exness is twice as much as their main competitors. A broker that big can not be a scammer. That number proves that there are hundreds of thousands of traders choose to trade at Exness. A broker with that much trust can not be a scammer. Moreover, Exness publishes all of their financial records on their website. You can check it anytime. How can a broker that transparent be a scammer? You tell me.
When we want to talk about the security of a forex broker, we must always look at their forex regulations. Forex regulation is a set of standards that big financial organizations make to keep the brokers in check. Exness is regulated by CySEC and FCA, two of the most well-known and trusted forex regulations in the market. Every customer at Exness all has Exness protection. So, you should be safe when trading with Exness. Even if Exness scams you, the regulation will make sure you will get compensation and Exness will be punished.
The best advantage of Exness is the instant withdrawal
This means that when you make a withdrawal, everything happens automatically without human intervention. Thus among all forex brokers, the withdrawal speed of Exness is the fastest. If you have tried trading with other brokers, you will know how long it will take to withdraw. So this is one of the main reasons for traders to choose Exness.
See details of the Exness deposit and withdrawal system
Exness has a dedicated support team
There are support, sales, partnership and marketing which dedicated for each target country. This is a great advantage of the Exness broker because some brokers only support in English. So it is quite complicated and time-consuming when asking for their support. Exness is the best choice for traders who are not fluent in English.
No minimum deposit required
Exness has four different types of accounts. Depending on your trading strategy, you can choose the suitable accounts. There are 2 accounts that do not require minimum deposit, which are Mini and Cent. So it is very suitable for testing the broker and robot trading. See details of Exness minimum deposit.
The best forex accounts
This is the most basic account for beginners. This account does not have a minimum deposit limit. The deposit amount will be multiplied to 100 times, and the minimum transaction is 0.01 lot Cent. So, you can deposit 10$ you will get 1000$ (Cent) in your account. 1000 cent here is similar with 1000$. So you can open hundreds of orders that are enough for testing and learning.
View Cent account details
This account also has many advantages over other brokers since there is no minimum deposit limit. Low spread and leverage of 1: 2000 are advantages of Exness. While other brokers ask for 200 – 500$ minimum deposit and spreads are much higher. Create a Mini account
This Exness account is mainly for medium investors. The minimum deposit for this account is $2000. For me, this account is the best account of Exness. Because it’s spread is half of Mini account. And there isn’t commission requirement. Exness classic account offers the best trading conditions over other brokers also. Create a Classic account
This account is only suitable for forex experts. For this account, the spread is almost 0. They only charge $2.5 commission each Lot transaction. This is the lowest commission over other brokers. So, if you have traded forex over 5 years, you can try ECN account. Create a ECN account
Exness spreads are very low
Exness was audited quarterly by Delotte. So all information were published on it’s website are accurate 100%. If you trade fix spread currently pairs, Exness offers the lowest spread. They only charge 0.5 pip for EURUSD. For ECN account, Exness only charges 2.5$ each lot. Please note that the spread I mentioned above is only a general comparison. It will depend on the currency pairs you are trading. This pairs is low spread but others may has higher spread. For 6 most popular currency pairs, the spreads of Exness are lowest.
Check Exness spreads
Exness offers the highest leverage: unlimited leverage
Beginning traders think high leverage is risky. But professional traders think safer. If you deposit same money, open the same order size, the higher leverage, the safer. If you use unlimited leverage, you will pay 0$ for margin. So, you have more free magin to keep your order open. Read more about Exness Unlimited leverage