EXNESS BROKER PROS AND CONS
In terms of pros and cons, we are traders with real trading experiences, comparing the pros and cons because we use them for real trading, not just reading from broker websites, and writing them or taking them from other websites and having the exact same set of information. Our pros and cons are written by using our real trading experiences.
- No Commission Fee
- No Swap Fee
- Low Spread Fee
- No Deposit and Withdrawal Fees
- Unlimited Leverage
- Wide range of financial products
- Conditional free VPS available
- Send orders quickly
- Easy account opening, offering multiple account types
- Fast deposit and withdrawal
- The minimum deposit is only 1 USD.
- There is no Re-quote on Pro accounts.
- Social Trading system service
- Support 24 hours/ 7 Days
- Chart movements can be unstable during the news
- Trading orders placed during the news may not yield the desired entry price
- If the chart freezes during the news, the order cannot be closed.
Exness rarely offers bonus services to traders, probably because they only tried to offer traders low trading capital. Some accounts only have a trading cost of spread fee of 0, even in the Zero Account, but still have a commission fee. This may not be attractive to many traders, but for professional traders, the low trading capital can be traded with the Bonus.
EXNESS BROKER FREE VPS
Free VPS the terms and conditions for running Exness EAs are as follows:
- There must be a deposit of 500 USD in the account.
- Traders must be trade regularly, if not, the account will be terminated.
Exness VPS includes Windows, Mac, and Linux in which users can choose.
EXNESS SPREAD AND SWAP INFORMATION
1. EXNESS SPREAD
Our Spread and Swap Fee calculations are already charged per 1 Lot order opening size of Standard Account (100,000 USD per 1 Lot), therefore the value shown is in USD.
Exness has 5 account types, divided into 2 main groups: Standard Account and Pro Account. To measure Exness spread and swap fees, we test our spread checks, including commission fees. In order to compare with no-commission brokers from all 5 types of accounts in real-time situations, then averaged spread data is obtained as follows;
2. EXNESS Swap
This is Exness’ cost of holding an order across the day when opening a 1 Lot Standard (100,000 Lots) order. It shows the daily cost of holding a 1 Lot Standard account size order when holding an order as follows;
However, in addition to the yearly averages, we have calculated, you are able to find Live Spread and Swap on our Real Spreads and Swap page. Of which, we extract information from each account type of every broker that we have considered the best and is most suitable.
3. Exness Commission
Exness offers a total of 5 MT4 accounts, each with different conditions. Commission conditions, which are Exness brokers’ earnings, are divided as follows;
- Exness commission fee is only available on Raw Spread and Zero Accounts, with the opening fee of 1 Lot equal 7 USD Per Lot.
- While Standard Account, both Standard Cent and Standard Account, and Pro Account are commission-free.
OTHER EXNESS INFORMATION
Exness Broker has been established since 2008 and is constantly evolving. It offers a wide range of financial products including currencies, precious metals, cryptocurrencies, various stock market indexes, indexes, stock indices, customer support (support staff) available 24 hours a day, 5 business days a week (Monday – Friday).
Exness is a brand under a company named Exness Group, is financially registered with the country in which its office is located with the following information:
- Nymstar Limited, registered at Seychelles, authorized by the FSA.
- Exness (CY) Ltd is registered with CySEC in Cyprus.
- Exness (UK) Ltd is registered under the supervision of the FCA in the UK.
EXNESS ACCOUNT USAGE
Exness is another simple-account-opening broker. Account opening assistance is available by contacting Website Support. Here are some basic information about opening an Exness account:
1. Exness Forex Account Opening Documents
Documents required to open a trading account with Exness Broker include:
- Identity verification documents is either ID card or Passport.
- The address verification document must be the same as the address shown on the identity card, a copy of the house registration is recommended, or it could be a receipt for electricity and telephone bills.
2. EXNESS Account Types
There are 5 types of Exness Forex trading accounts, each with its own pros and cons and distinctive features. Here are some recommendations for beginners:
- If you are a beginner, we recommend Exness Zero or Raw Spread accounts because you need to practice short-term trading which is the best here.
- If you are a long-term trader, we recommend all 3 accounts: Exness Zero, Pro, and Raw Spread account.
- Trading here is good for long hold and long-term trades, but controlling leverage is a must because on weekends leverage is adjusted to low, so your equity may not be enough. Be careful not to overtrade.
The table shows the account types of Exness Forex Account.
EXNESS Support Service
We conducted a communication testing with Support via chat and did an assessment according to the criteria on problem resolution, promptness of service, problem-solving intention, not just pasting a link to read then suggest, as follows;
- The support staff stands by to answer questions 24 hours daily.
- Started waiting for support staff at 1:26 a.m., had conversation started at 1:32 a.m., taking 6 minutes to respond which is considered quite a long time.
- The Staff takes quite a long time to answer questions.
- The Staff does not answer questions to the point, but rather asking questions back and not giving direct answer.
- Start a conversation by answering Chat Bot questions.
- If the question is asked and the Chat Bot cannot answer, it will be sent to the support staff.
- Didn’t talk to the staff in the first place, causing some people to be frustrated.
“The only critical cons of Exness is its server instability, as sometimes it fluctuates so much that quite a few customers experience a Margin Call among those who overtrade, but in exchange for low-capital trading, Exness is considered a good choice for traders.”