Exness Philippines Review
Exness Philippines Review
Exness is a well-known Forex broker which started in 2008. Since its launch, the company has become a significant player in the online Forex trading industry. Exness has offices in many different countries, and it ranks first in Forex brokers’ ratings in countries like New Zealand, the European Union, and South Africa. It is also regulated by local authorities, who are also highly respected in the industry. The Financial Conduct Authority authorizes and oversees Exness UK Ltd, while CySEC gives Exness CY Ltd its license.
Exness prioritizes implementing innovative technologies to meet the needs of its clients. Regardless of the type of account traders will open, each can access a comprehensive set of tools. It also introduces new trading tools, giving traders even more chances to earn money.
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Is Forex trading with Exness legal in the Philippines?
Yes, trading Forex with Exness is legal in the Philippines. For a safe start on the Forex market, you must sign up for a brokerage company with a good reputation and an SEC license to offer financial services. Make sure your device has a stable and fast Internet connection. After signing up, you’ll need to verify your account and add money using your debit or credit card or another method. Next, you need to install a trading platform or download the Exness broker’s mobile app if you want to trade with your phone. You can start trading any currency pairs with Exness Philippines as soon as your deposit is in your account.
Is it safe to trade Forex with Exness Philippines?
It’s crazy how many forex scams are reported worldwide every day. Despite this, many people still fall for fraud, costing millions in losses. The safest way is to do a background check on a broker before you work with them. Forex Brokers act as middlemen between the investor and the security exchange. Every legitimate broker should be registered with one or more of the world’s financial regulatory bodies. Your background check should focus on questions of legality and safety.
Exness Philippines is safe and secure since it is a global brokerage firm that must follow strict rules for international trading. To meet international standards, the company keeps its client’s money in separate bank accounts, holds a certain amount of capital, and uses the procedure to stop money laundering. Exness is also a member of the Financial Commission, which means each client will get a certain amount back if the company goes bankrupt.
Exness has offices in several countries and is regulated by local authorities, who are also highly respected in the industry. This broker is known for its transparency. The company is held and licensed by: the FSA of Seychelles as Nymstar Limited, CySEC of Cyprus as Exness (Cy) Ltd, and FCA of UK as Exness (UK) Ltd. Because of this, Exness is a reliable and trustworthy broker.
Exness Philippines Account Types
Exness Account Types
Exness Philippines offers two primary account types: Standard and Professional. Each account has its benefits and disadvantages. Before choosing a trading account, traders should educate themselves on all available accounts.
The Exness Standard Account is for all types of traders, even newbies, as its Spreads are fixed, and there are no requotes.
This account is suitable for novice traders who wish to trade small amounts. The maximum number of pending orders is 50, with a minimum lot size of 0.01. Also, a maximum lot size ranges between 20 and 200 lots, depending on the trading time. The offered spread begins at 0.3 pips. The minimum deposit varies by the payment system but often starts at $10. This account is commission-free, and all transactions are performed on the market using the MT4 platform.
This account’s trading terms are similar to the Exness Standard Cent account: spreads starting at 0.3 pips, a minimum deposit of $10, and no commissions. The MT4 and MT5 trading platforms are used for the market execution of this account type. The minimum lot size is 0.01, depending on the trading period, and the highest lot size ranges from 20 to 200 lots. Traders are allowed an infinite number of open positions, with a maximum of 100 pending orders.
The Exness Professional Account is perfect for seasoned traders. Also, this account type accepts all traders, including scalpers, day traders, and Algo traders, and provides incredibly low or even zero spread.
Raw Spread – The Exness Raw Spread Account has the lowest raw spread compared to other accounts. With a minimum deposit of $200, traders can open a Raw Spread account. Also, they can enjoy spreads as low as 0 pips and an unlimited number of trading positions on the MetaTrader 4 and 5 trading platforms. Market execution is available for unlimited pending orders ranging from 0.01 to 20-200 lots. But, there is a minimal fixed commission of up to $3.5 per lot/side.
Zero Accounts – Exness Zero accounts are available to skilled traders who wish to trade with less spread and actual market prices. The spread for this account starts at 0 pips with market execution on the MT4 and MT5 platforms. The minimum deposit for traders is $200. They can open an infinite number of trading positions and pending orders with a commission of as little as $3.5 per traded lot. The maximum lot size is 20-200, and the minimum is 0.01.
Pro Accounts – The Exness Pro account delivers quick execution for Forex, metals, indices, energy, and stocks and market execution for cryptocurrencies. There is no minimum deposit amount after the initial investment of $200. Traders can trade a minimum of 0.01 lots and 20-200 lots with a flexible spread as low as 0.1 pips. They may open an unlimited number of positions and have a total number of pending orders with no commissions.
Exness Philippines Pros and Cons
Pros and Cons – Exness Forex Broker
Every good platform has something important to say about. For example, Exness offers reliability for traders to invest and make money. But it also has some problems that are essential to talk about.
- Segregated Fund. Most traders are afraid of losing money if their broker goes bankrupt. Exness understands this risk. The broker uses separate accounts to protect these investors and compensate for losses.
- Instant Withdrawal. Exness Philippines lets traders withdraw money immediately, 24/7. One of the best reasons investors like the platform is its easy use.
- Exness offers VPS hosting for free. VPS improves security, makes scaling more accessible, and is very reliable. Exness is one of the most well-known brokers since it lets investors use VPS hosting for free. The company offers it if you need quick and reliable execution. An uninterrupted internet connection will save you from problems disrupting your trading.
- Exness is one of the forex brokers which provide more than one trading platform. The company has just added mobile platforms to have more than one type of media terminal to make access more varied.
- Exness offers a Social Trading program that allows everyone to trade according to their strategies.
- The broker does not offer customer service around the clock. There isn’t always a team on call in case of an emergency.
- Some critical parts of the Exness website, like the section on training resources, are only available in English now. Some investors who don’t speak English find it disappointing not to be able to use languages other than English.
Exness Philippines Trading Fees
Trading Fees of Exness
Exness usually charges fees based on the type of account you choose. Commission fees start at $3.5 for the Raw account and increase to $3.5 for the Zero account. For the Pro or the Standard account, there are no commission fees. Exness brokers also charge an overnight fee if a position seems to be held for more than a day. Each instrument has its fees based on these overnight or rollover positions. Either a fee is charged for them or a refund is issued.
The minimum deposit for a Standard account depends on the payment method. The Raw Spread, Zero, and Pro accounts have a $500 minimum deposit. Also, there are no fees for making deposits or withdrawals, which makes the broker a more promising trading platform. Investors should check with their chosen payment provider for help before making any transfer since the payment provider may waive the fees the trader will be liable for.
Exness Deposit Methods Philippines
How to deposit and withdraw money at Exness Philippines?
With Exness Philippines, there are many ways to make payments, such as credit cards, e-wallets, bank transfers, and cryptocurrencies, all of which have no processing fees. However, keep in mind that some electronic payment systems may charge an extra fee.
The following are the ways you can deposit and withdraw money on Exness Philippines:
- The minimum deposit for bank cards is $10, the deposit is instant, and withdrawal can take up to 72 hours.
- E-wallets (like Perfect Money, SticPay, WebMoney, Skrill, Neteller, etc.) have a $10 minimum deposit, instant deposits and withdrawals, and a $10 minimum withdrawal.
- Cryptocurrencies (Tether/USDT OMNI/BTC): $10 minimum deposit, up to 72 hours for deposit and withdrawal.
- Filipino traders can also use GCash to deposit and withdraw funds into Exness accounts.
- Traders should always ensure that the names on the trading account are the same as those on the payment system. This way, the deposit can be credited quickly. Also, withdrawals can only be made with the same payment method used to make the deposit.
Exness Trading Platforms
Trading Platforms of Exness Forex Broker
At Exness Philippines, you can trade using MT4 and MT5, two of the most well-known trading platforms.
As the most popular platform globally, MetaTrader 4 is a trading platform that can be used on the web, computer, or phone. Two different ways to get an order filled are Instant and Market. This platform has 23 analytical objects and 30 technical indicators built in, and EA can be used for auto-trading. 128-bit keys are used to encrypt all messages.
MetaTrader 5 is seen as an improvement over MetaTrader 4. But since it doesn’t support hedging, many online Forex brokers prefer the MetaTrader 4 platform. Also, the Expert Advisors, or EA, for MT4 are not supported by the MT5 platform. MT4 and MT5 have strong encryption to protect traders’ personal information. Traders can use the 38 built-in indicators, 22 analytical tools, and 46 graphical objects, and trades can be made instantly or on the market.
Both platforms are well-known in the industry, but MetaTrader4 (MT4) has a trading platform that is easy to use and works well. Both new and seasoned trader has noticed this. MetaTrader (MT5 is) a more advanced version of MT4 with more features and options. You can get to both through Web Trading, a free platform that doesn’t require downloading or installing anything. You can get to it through your browser. This web platform is easy to use, fast and reliable.
The Web version is always less advanced than the desktop version, so use the desktop version if you are making a comprehensive strategy and need more customization and charting options.
The Social Trading service from the Exness Philippines lets you make money by creating profitable trading strategies. The trader sets the size of the commission on their own. When the strategy is used to bid successfully, it draws users who want to use it, which means they become investors. The size of the once-a-month commission depends on how many investors there are. In Social Trading, you need to sign up for the platform, publish your strategy, and verify it before you can start earning money. Also, you can promote your strategy by putting an affiliate link on your blog or website.
Exness Broker Leverage
Like most Forex brokers, Exness Philippines lets you use leverage, which can increase your chances of making money by allowing you to start with more money in your account. The leverage you can use depends on the instrument you trade, the rules set by regulators, and your skill level. The most leverage a retail trader can use is 1:30 for major currencies, 1:20 for minor ones, and 1:10 for commodities. Yet, a worldwide company like Exness might let you use much higher leverage ratios, up to 1:1000, based on where you are from. Remember that you should always learn how to use leverage correctly since it can increase your potential losses and is a different feature of different instruments.
To offer its clients the best trading experiences, especially traders in the Philippines. Exness offers 24/7 support via email, phone, and live chat; traders can contact them in 15 languages. Also, the company helps clients by putting answers to frequently asked questions (FAQs) on its website.
Exness Broker Philippines – Conclusion
Exness is one of the most well-known and reliable Forex brokers in the industry, not just in the Philippines but worldwide. The company offers its traders access to a wide range of Forex pairs and has excellent spreads and leverage levels that can’t be beaten. In addition, the broker is a perfect choice for traders from the Philippines because its trading platforms, MT4, MT5, and Web terminal, offer both market and instant executions.
Today, more and more traders choose it over other brokers because its prices are fair, and its trading conditions are easy to understand. Exness Philippines offers customer support 24/7 so clients, especially those in the Philippines, can have better trading experiences. Its website is in several languages and has a lot of helpful information. The powerful features of the platforms make it possible to trade well and secure the environment. Overall, if you are an aspiring trader in the Philippines, Exness is an excellent option if you want to trade pleasantly. It is a perfect choice for Filipino Forex traders as it meets the local regulator’s requirements and offers clients appealing trading conditions.