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Exness Review 2024

BrokerNotes.co

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

June 14, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Our extensive research and testing of Exness have led us to recommend it as a suitable broker for traders interested in forex and CFDs. The analysis revealed that Exness provides a decent service that meets the average trader's needs.

Overall Rating

7.0 / 10

Minimum Deposit

$1

Trust Score info

Average Risk
71

Pros and Cons

thumb_up_off_alt Pros

  • Low Spreads: Exness boasts a lower than average spread on the EUR/USD pair, beneficial for cost-effective trading.
  • Proprietary copy-trading platform: Great support for social copy trading via its specially designed app.
  • Platform Variety: Offers both MetaTrader 4 and MetaTrader 5, accommodating various trading preferences.

thumb_down_off_alt Cons

  • Limited Investment Offering: The total number of tradeable symbols is quite low compared to industry standards.
  • Limited Educational Content: Much more room to grow with educational content to compete with the best-in-class brokers in this category.

Ratings Summary

  • Investment Types - 6.5/10
  • Commissions & Fees - 7.5/10
  • Trading platforms - 7.5/10
  • Research - 7.0/10
  • Mobile Apps - 7.5/10
  • Education - 6.5/10
  • Overall - 7.0/10

Can I trust Exness?

We've found Exness to be a moderately trustworthy broker based on its trust score and regulatory status. It is MiFID regulated and authorized by the U.K.'s FCA. According to ForexBrokers.com, Exness has an "Average Risk" trust score, indicating a fair level of reliability.

Exness is currently licensed and/or authorised by the following regulatory bodies:

Is Exness good for beginners?

For beginners, our analysis suggests that Exness is a decent choice because it offers educational resources for new traders. However, it does not provide advanced educational content, which might limit learning potential as one advances.

Feature Exness logoExness
Education (Forex or CFDs) info Yes
Client Webinars info Yes
Videos - Beginner Trading Videos info Yes
Videos - Advanced Trading Videos info No
Investor Dictionary (Glossary) info No

Exness commissions and fees summary

We find Exness' commission and fee structure to be reasonable for most investors. It offers competitive spreads, particularly the 0.9 spread on the EUR/USD pair, which is lower than the industry average of 1.08. Additionally, it does not charge inactivity fees, and there is no minimum deposit required, making it accessible for casual traders.

Feature Exness logoExness
Minimum Deposit info $1
Average Spread EUR/USD - Mini info 1.1
Average Spread EUR/USD - Standard info 0.9 info
All-in Cost EUR/USD - Active info N/A
Active Trader or VIP Discounts info No

Exness trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

Exness offers a satisfactory range of trading platforms and tools, supported by its ratings. The availability of both MetaTrader 4 and MetaTrader 5 ensures traders have robust and versatile tools at their disposal. It also offers a proprietary trading app for both mobile and web.

Trading platforms offered: Exness supports both MetaTrader 4 and MetaTrader 5 as well as a proprietary trading platform, accommodating various trading strategies.

Trading tools: The broker provides a standard array of trading tools through these platforms.

Copy trading: Copy trading is available through a proprietary app.

Feature Exness logoExness
Virtual Trading (Demo) info Yes
Proprietary Platform info No
Desktop Platform (Windows) info Yes
Web Platform info Yes
MetaTrader 4 (MT4) info Yes
MetaTrader 5 (MT5) info Yes
DupliTrade info No

Mobile trading apps at Exness

Exness provides a reliable mobile trading experience, as evidenced by its positive reviews. The mobile apps are well-suited for traders who need flexibility in trading from various locations.

Feature Exness logoExness
Android App info Yes
Apple iOS App info Yes
Mobile Economic Calendar info No
Mobile Alerts - Basic Fields info Yes
Mobile Charting - Draw Trendlines info No
Mobile Watchlist info No

How do I open an account with Exness?

To start trading with Exness, you'll need to complete a straightforward registration process. Here’s how you can open an account:

  1. Visit the Exness website and locate the 'Sign Up' button.
  2. Fill out the registration form with your personal information.
  3. Verify your identity by submitting the required documents.
  4. Once verified, fund your account using one of the supported payment methods.
  5. Begin trading by accessing one of the provided trading platforms.

What can I trade at Exness?

Exness offers a limited range of tradeable instruments, with a substantial number of 104 forex pairs but low number of 112 total tradeable symbols, which is significantly lower than the industry average of 3,623 symbols. This might be a consideration for traders looking for extensive market access beyond simply forex.

Feature Exness logoExness
Tradeable Symbols (Total) info 112
Forex Pairs (Total) info 104
Social Trading / Copy Trading info Yes
Cryptocurrency (Physical) info No
Cryptocurrency (Derivative) info No
Spread Betting info No

Account funding at Exness

Exness supports a variety of funding methods including Bank Wires, Neteller, credit cards, and Skrill. However, it does not support PayPal, which might be a drawback for some users.

Feature Exness logoExness
Visa/Mastercard (Credit/Debit) info Yes
Bank Wire (Deposit/Withdraw) info Yes
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info Yes
Neteller (Deposit/Withdraw) info Yes

About Exness

Exness was founded in 2008 and is regulated by several major financial authorities, including the U.K.'s Financial Conduct Authority (FCA) and the EU's MiFID. This regulation helps ensure a level of trust and safety for its clients. The broker has grown significantly over the years and now offers a range of forex and CFD trading services. It supports popular trading platforms like MetaTrader 4 and MetaTrader 5, catering to different trading preferences and strategies.


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Methodology

At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes.co
BrokerNotes.co

BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg
Jeff Anberg

Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

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