Exness was founded in 2008. In Exness forex and CFD broker that offers trading access in currencies, crypto, stocks, indices, metals, and commodities. Exness also offers proprietary Trading Terminal platforms such as Meta Trader 4 and 5. Exness offers a wide variety of different types of accounts for cater and traders. According to the company website, in 2022 Exness have more than 257,135 active clients.
Table of Contents
Who is Exness is recommended for?
Exness is generally recommended for traders who carry general knowledge of the stock market industry. This platform is not for newbies to the industry because it does not provide “how-to” resources so often. Although you can also signup as a beginner in the stock market after that you have to learn all the basics of the stock market somewhere. Exness trading terminal platform is intuitive and a good beginning for new traders. Exness offers advanced tools on the Meta Trader platform and enjoys extremely high leverage benefits.
Best Exness Features
- Instant Withdrawals – Instant Withdrawal is one of the best features of Exness. According to its broker, the investors can easily and instantly make withdrawals. No manual processing is required, and even withdrawals are possible on the weekends.
- Free VPS hosting – For instant and reliable execution, Exness consist of free VPS hosting. The uninterrupted internet coverage will protect against issues that can create hurdles in your trading.
- Comprehensive Price history – With the help of Exness, the clients can easily access to the historical archive of all price tick data. These archives are drawn by all price tick data. The investors can visit https://www.exness.com/tick-history/. Select an instrument and time period, and now click to download a zip file with past bid/ask prices.
- High Trade Volume – The trade volume of Exness is extremely high. In April 2022, it reached $2.105 trillion in total trading volume. Now, there is a total of 281,270 active clients as of April of 2022. These clients are making a total of $870 million of withdrawals in the first quarter of 2022.
- Transparent Broker – Exness is an extremely transparent broker. Exness makes its report publicly available for its clients so that they can view its audits and performance indicators and audits for it can be regulated by several organizations. These reports can be easily accessible on the website https://www.exness.com/financial-reports/.
ExnessFees
With the standard account, Exness mainly earns from spreads. Spreads are the gap between the bid and offer prices of an asset.
Trading Fees
After testing spreads at Exnessthroughout the asset classes in a Standard Account by using the Trading Terminal platform. The test was performed at 8 AM GMT and at 3 PM GMT on 22nd February 2022. For a greater perspective, the tests were done in different time zones. 8 AM GMT is London open, where there is a great deal of liquidity in the forex market and also for tighter spreads in currency pairs. On the other hand, 3 PM GMT is a short time before the opening of the New York stock exchange.
In industry, forex, stocks, and commodities spreads are very competitive, thus the spreads in indices are wider.
Swap Fees
There is no fee is charged swap fees for stocks, crypto, indices, or gold with some popular currencies that depends on your account setting.
There are two free levels in swap-free levels:-
- Extended – In this level of swap, there is no charged fee for AUD/NZD, AUD/USD, EUR/CHF, EUR/USD, GBP/JPY, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USOIL, AUD/CHF, AUD/JPY, EUR/AUD, EUR/CAD, EUR/GBP, EUR/JPY, EUR/NZD, GBP/CHF, GBP/NZD, NZD/JPY, NZD/CAD, XAU/USD, indices, cryptocurrencies, and stocks. For other metals, minor pairs, exotic pairs UKD!
- Standard – No swap fee is charged in this level for XAU/USD, indices, cryptocurrencies or stocks. For other instruments, swaps are charged.
The only difference between them is amounts of instruments that you can keep overnight without any charges.
Non-Trading Fees
No fees are charged by Exness as an inactivity fee, deposit, or withdrawal fee.
How are fees at Exness?
Exness fees are sometimes competitive that are completely dependent on the broker. He can keep the credits for keeping the swap fees and non-trading fees.
Types of Exness Accounts and their Pros and Cons
1. Standard Cent:
The standard cent type of Exness type of account is good for those who are starting trading as a hobby or just want to start from low. You can open your standard cent account on the basis of your location for as little as $1.
Pros
- Small initial investment
- Available unlimited leverage
- Zero trading commissions
- Smaller lot size
- No hedging margin
Cons
- There is no demo account available
- Instant Execution
- No bonus
- Only limited to 5 account currencies
2. Standard –
Standard is one of the most popular accounts of Exness. It is only for good reason as it is a very budget-friendly option that is opened with just $1 on the basis of your location. This type of account is best for those people who are willing to start trading part-time and then plan to build up their trading experience before raising the bar and setting more significant profit goals.
Pros
- Small initial investment
- Available unlimited leverage
- No trading commissions
- Available bonus
- No hedging margin
Cons
- There are limitations on the maximum volume and positions
- There are limitations on the number of pending orders
3. Pro account –
This account is for traders who are already into trading. In this account, the conditions are settled up to maximizing the potential profit of the trader. These conditions are only possible due to some lower spreads. The user of Pro accounts of Exness can enjoy various leverage. Only if they can prove their capability and knowledge in that field.
Pros
- Can use unlimited leverage
- No trading commissions
- Lowest spreads from just 0.1
- No limits on the number of trading orders
- No hedging margins
Cons
- Huge initial investments
- No bonus
4. ECN account –
This type of account is different from the other three accounts. Traders with ECN accounts usually have good experience in trading on the volatile side of the forex market and huge market investments with huge profit targets in the mind. This type of account gives more significant results through consistent trading.
Pros
- Zero spreads
- Accounts and trading anonymity
- No requotes
- Setting pending orders within the spreads
Cons
- Huge initial deposits
- Leverage capped at 1:200
- Commissions on trades
- 100% margins when offsetting positions
- No bonus
5. Demo account –
If you are completely new to forex, then a demo account is one of the best trading accounts for you to start trading. The demo account is immediately available while using Exness. You can access your account after completing a short registration process. A demo account on Exness allows you to do the following things:-
- Getting familiar with trading software
- Risk-free trading
- Practice money management
- Test trading strategies
Demo accounts usually do not have any notable cons. It is freely accessible, provides a risk-free trading experience, and it accelerates the learning curve significantly.
Wrapping Up!
Nowadays, trading is almost similar to any new business or career advance, but it requires enough research and practice like sports. Be patient and pass the newbie stages to match your realistic financial goals.
