Exness is an online Forex broker that was established in 2008 in St. Petersburg, Russia. Since then, this broker has grown from strength to strength. This is not surprising as the company is one of the rare breed of online Forex brokers that practices transparency in its business operation. In terms of market innovation, Exness can be still considered an old school broker as it has yet to adopt the social networking concept of Forex trading. Nevertheless, this broker is still highly rated by its clients solely because of the quality of its services as indicated by the $450 billion worth of business done so far in just 2012.
FX Empire’s Awards Received
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Trading Platform
As for trading platforms, Exness provides its clients with the reliable MetaTrader based trading platforms. Traders can choose with between MetaTrader 4 or MetaTrader 5. Professional traders with multiple accounts to manage can opt for the MetaTrader 4 Multiterminal platform.
For those who are constantly on the go they also have the option to use their mobiles devices to trade with the MetaTrader platforms for iPhone, iPad, Blackberry, Android devices and Windows Mobile Enabled Devices.
Types of Accounts
Although Exness doesn’t have as many types of trading platforms as some online Forex brokers, the company do take note of the types of clients that they have. This is evidenced by the four different types of trading accounts they provide for traders. The types of trading accounts are classified as:
- “Cent” Trading Account (No minimum deposit)
For those absolutely new to the Forex market and just wishes to get a feel of the trading environment.
- “Mini” Trading Account (No minimum deposit)
For Forex beginners as well but with improved trading conditions
- “Classic” Trading Account (Minimum deposit $2000)
For Professional Traders with full range of tools and trading facilities
- “ECN” Trading Account (Minimum deposit $300)
For Professional traders who want a trading condition where there is no conflict of interest between them and their broker.
Commission & Spreads
Like most online Forex brokers, Exness does not charge any commissions on trades done through them. Instead they earn by adding on a spread on the quote that they give to their clients. Their spreads is probably one of the lowest around in the industry which perhaps accounted for their popularity among so many traders. However for ECN trading accounts, there is a minimum fee of just $25 for each one million dollar trade.
Reliability
To ensure that their clients have no problems depositing their funds, traders have the option to select from the various methods listed below:
- CashU
- MasterCard
- Perfect Money
- QIWI
- RBK Money
- Skrill (Moneybookers)
- Visa
- Webmoney
- Wire Transfer
Withdrawal of funds can be done through:
- CashU
- Internal Transfer
- MasterCard
- Perfect Money
- RBK Money
- Ruble Wire Transfer
- Skrill (Moneybookers)
- Visa
- Web money
- Wire Transfer
- Yandex Money
Since September 2009, Automatic withdrawal of fund is available for Exness’s clients. There is no longer the need to wait for the processing of the withdrawal request. Currently, only Exness has the technological support for this sort of service.
Apart from the various channels for transferring funds, Exness’s reliability is enhanced by their In-house News Section. Through there, they keep their clients updated with the latest going on with their broker. The fact that Exness is regulated by CySec (license no. 178/12) greatly enhanced their reputation as a reliable broker. This indicates that Exness is in full compliance with the European market trading standard.
Customer Support
As for customer support, Exness is top notch. Their website support 17 major languages like:
- Arabic
- Bahasa Indonesia
- Bahasa Malaysia
- Chinese
- English
- Farsi
- German
- Russian
- Hindi
- Thai
- Vietnamese
- Urdu
- Tamil
- Bengali
To ensure that their clients are properly serviced, they also provided several methods of getting in touch with the support. Traders can contact by means of:
- Livechat
- Call Back service
- 24 hrs Telephone support at +357 25 030 959
- E-mails at: support@exness.com, sales@exness.com and complaints@exness.com
- Postal Mail to:
Office 309, Regus Nevsky Plaza Business Centre, Nevsky prospect 55, lit. A, Saint Petersburg, Russian Federation, 191025
Pros
- Tight spreads starting from 0.3 pip
- High Leverage of 1:2,000
- Responsive Customer service
- Reliable Trading platform
- Automatic withdrawals request processing
- CySEC regulated
- Multiple types of trading accounts
- Low deposit requirement
- Can Trade CFDs as well
Cons
- Does not support social networking form of trading
Conclusion
With so many online forex brokers around nowadays, what makes Exness stand out is the fact that they not only show that they care about their clients, they actually prove it by responding to their clients’ complaints and needs. This is clearly evident from some of the feedback that the company have received on some of the Forex brokers review blogs. Their customer support staffs actually take the trouble to read the feedbacks and address the complainant’s concerns. No longer are traders just a faceless account number on a computer screen.
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