In this video we will do an in depth review on Exness Broker!
Broker Details
Exness Broker was founded in 2008, and they are really popular in Africa and Asia Regions. Exness has enjoyed substantial growth over recent years and is now regulated by 7 different jurisdictions
The Financial Service Authority (FSA), the Financial Services Commision (FCS), the financial Sector Conduct Authority (FSCA), the Cyprus Securities and Exhange Comission (CySEC) and last the Centra Bank of Curacao and Sint Marteen (CBCS)
Assets&Markets
Users who hold accounts or thinking to open an account on Exness Broker can trade various assets across 6 asset classes, but to be more precise those are :
More than 100 forex pairs with spread to vary based on the account type the clients choose
More than 100 stocks such as Google, Amazon, Tesla and Alibaba
10 indices which includes US TECH 100 and SPX 500 Index among others
More than 20 Cryptocurrencies, such as Bitcoin, Ethereum and Litecoin
Energies that include Crude oil and Brent
And last 3 metals, Gold, Palladium and Silver
Account Types
Exness offers 5 type of Accounts, Standard and Professional, however there is a further split as Standard account comes in two versions, the standrd and the Stadard cent while the professional accounts splits in to three versions, the Raw Spread, the Zero and the Pro.
Now lets have a look on how the compare to each other.
Starting with the two Standard accounts we can see that the spread for both starts at 0.3 pips, both have no commissions, and unlimited leverage.
The first main difference comes to the instruments available for each as the Standard account allows Forex, metals, cryptocurrencies, energies, stocks, indices while the cent account only allows Forex and Metals.
Minimum lot size is set at 0.01 and max at 200 for both accounts. Hedge MArgin, Margin call, stop out, order execution and Swap free are the same fro both accounts.
Last and quite important the Standard account is available for MT5 while the Standard Cent is available for MT4 platforms, both will work as well with the native exness platform as well.
When it comes to the professional accounts which according to exness are designed for the most experienced traders, there are three types the Raw Spread, Zero and Pro.
Raw Spread has the Lowest spreads with fixed commission per lot. Market execution., the Zero account offers Zero spread on the top 30 instruments. Market execution, no requotes. And last the Pro offers instant execution, with zero commission & low spread.
The minimum deposit is set at 200$ for all three, the spread for the first two starts at 0 pips while for pro starts from 0.1.
Teh main difference is on commissions as for Raw Spread it is at $3.50 per lot. , on zero 10 cents per lot and last on the pro there are no commissions.
All Professional accounts offer access to all the assets the broker has to offer and can be traded on both their native platform or by using the Metatrader 5 Platform.
A service that needs to be mentioned here that allows social trading, which means users can copy trade other traders that deployed their strategy by paying a commission. On their website or when you create an account you can see how they perform, what are the requirements and how to join.
Trading Platforms
Exness offers 4 different platforms to its traders. Those are: Metatrader 4 ,Metatrader 5, Metatrader Web Terminal and their native exness terminal platform. All platforms are available on mobile as well.
On our how to open an account on excness video which you can find on the description we are having a walkthrough over their native platform which explains how to trade in it.
Additionally If you are not familiar with the Metatrader 4 and 5 Platforms , we have created dedicated videos for MT4 and MT5 for both desktop and mobile. You can find the videos on your screen or in the description below the video.
Funding Options
Exness offers a decent amount of funding options, those are :
Bitcoin, Bank Card, Skrill, Netteler, Online Bank Transfer, Perfect Money , Stickpay Tether and WEbmoney.
The minimum deposit for most of them is 10$, but for Online bank transfer and Perfect Money the minimum is set to 55$ and 50$ respectively.
When it comes to withdrawals the minimum starts at $1 but could go up to $100 depending on the options picked.
Lastly, when it comes to speed , most of the deposit and withdrawal options will see your account funded instantly, Bitcoin and Tether could take up to 72 to saw up according to this table, and online bank transfer up to 6 hours.
Customer Support
Users can contact customer service via email, phone, and live chat. According to therir website support is availbel 24 hours a day for 7 days a week for English, Chinese and Thai languages. For the other languages supported there is a schedule that allows you to know when they are available.
Summary
So let’s have a look at the pros and cons of Instaforex Broker.
Starting with the pros:
It is a Regulated Broker
Been around for more than 14 years
Offers 6 assets classes to trade with
Offers 2 different types of accounts split further in to 5 types
4 trading platforms offered Metatrader 4 / Metatrader 5 / Webtrader / and their native exness terminal
Decent selection of platforms for depositing and withdrawing funds
Social Trading is available
24/7 customer support
On the cons now:
US and European Clients are not allowed
Less trading instruments compared to the competition
high spreads on some account types
And last they offer No welcome Bonus
