Exness one way: Forex.
To open a live account, you’ll need a minimum deposit of at least $1. Alternatively, Exness offer a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by CySEC (Licence: 178/12 ). Exness puts all client funds in a segregated bank account and uses tier-1 banks for this. Exness have been established since 2008, and have a head office in Cyprus.
Before we dive into some of the more detailed aspects of Exness’s spreads, fees, platforms and trading features, you may want to open Exness‘s website in a new tab by clicking the button below in order to see the latest information directly from Exness.
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Your capital is at risk.
What are Exness's spreads & fees?
Like most brokers, Exness take a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on Exness’s website. The colour bars show how competitive Exness’s spreads are in comparison to other popular brokers featured on BrokerNotes.
EUR/USD1.7 PIPS $5.00 per lot
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
USD/JPY3.6 PIPS $5.00 per lot
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
GBP/USD2.0 PIPS $5.00 per lot
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Speads are dynamic and are for informational purposes only. Last updated: June 06, 2018.
As you can see, Exness's minimum spread for trading EUR/USD is 1.7 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Exness vs. similar brokers.
How much does Exness charge to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) with Exness at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $7.49. Here’s a rough breakdown of the fees and how this compares against Plus500 & AvaTrade.
|Typical overnight fee:||$6.49||$9.40||$5.00|
|Total cost of a 100k trade:||$7.49||$15.4||$12|
|$7.91 more||$4.51 more|
|Visit Exness||Visit Plus500||Visit AvaTrade|
Your capital is at risk. All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018.
What can you trade with Exness?
|FX / Currencies||Exness||Plus500||AvaTrade|
|# of forex pairs offered||103||61||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||0||17||16|
|Indiced & Stock CFDs||Exness||Plus500||AvaTrade|
|# of Stocks offered||0||1816||99|
|See Exness's Instruments||See Plus500's Instruments||See AvaTrade's Instruments|
What’s the Exness trading experience like?
1) Platforms and apps
Exness is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
Exness also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See Exness's platforms Your capital is at risk.
2) Executing Trades
Exness allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. Exness allow you to execute a maxium trade of 200 Lot. As Exness offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, Exness offer margin up to 0.0001 on currencies.
Finally, we’ve listed some of the popular funding methods that Exness offers its traders on the right.
3) Client support
Exness support a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish
Exness have a BrokerNotes double AA support rating because Exness offer over three languages email and phone support.
4) What you’ll need to open an account with Exness
As Exness is regulated by CySEC, CRFIN, BaFin, AFM, Banque de France, CNMV, CONSOB, FI, KNF, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore Exness’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with Exness you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.exness.com/ on March 21, 2018.