Exness Review

Exness is a well-known multi assets 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 South Africa. It is also regulated by local authorities, who are also highly respected in the industry. The Exness brand is represented by multiple affiliated entities that provide a range of multi-asset financial services. These entities are licensed by regulatory bodies such as CySEC (Cyprus), FCA (UK), FSA (Seychelles), FSC (BVI), CBCS (Curacao), FSCA (South Africa), and CMA (Kenya). Product offerings across these entities may vary. Exness Cyprus and Exness UK offer B2B services only.

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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Exness Philippines

Exness Review Philippines

Exness Account Types

Standard Accounts

  • A Standard account on Exness offers an appealingly low spread, starting from 0.2 pips. The spread, which is the difference between the bid and ask price of an asset, is a significant cost factor in trading. Therefore, a reduced spread equates to lower trading costs, making the Standard account a desirable option for traders. The minimum deposit to open such an account fluctuates based on the trader’s chosen payment system. Exness offers a broad selection of payment methods, accommodating the needs of different traders. Notably, Exness does not impose a commission on trades conducted through the Standard account, allowing traders to retain their entire profit. The Standard account also offers 1:Unlimited leverage, enabling traders to manage larger positions with less capital. While leverage can amplify potential profits, it can also escalate potential losses, necessitating careful use.
  • The Standard Cent account is an appealing choice for traders, primarily due to its non-commission feature. The spreads for this account type commence from 0.3 pips, which, although slightly higher than the Standard account, remains competitively low in comparison to many other brokers. A noteworthy advantage of the Standard Cent account is its 1:Unlimited leverage, which empowers traders to manage larger positions with minimum capital. The minimum deposit for such an account varies based on the payment system, thus offering traders the flexibility to select a payment method that aligns with their financial requirements. Beyond forex, the Standard Cent account also permits trading in metals, providing traders with a chance to diversify their investment portfolio and potentially enhance their profitability.

Professional Accounts

  • Pro Account – This type of account requires a minimum deposit of $200. It offers a spread starting from 0.1 pips and does not charge any commission. The leverage provided in this account is unlimited, meaning that traders can trade with as much leverage as they feel comfortable with, without any restrictions from the broker. This could potentially lead to higher profits, but also higher risks.
  • Zero Account – This account type also requires a minimum deposit of $200. However, it has a more favorable spread that starts from 0 pips, which could lead to potentially lower trading costs. On the other hand, it charges a commission of $0.05 on each side per lot, which means that for every lot traded, the trader would have to pay a commission of $0.05 on both the buy and sell sides. The leverage in this account is also unlimited.
  • Raw Spread – Just like the other two account types, this account requires a minimum deposit of $200. It offers a spread that starts from 0 pips but charges a commission of up to $3.50 for each side per lot. This commission is higher than that of the Zero Account, but it could potentially be offset by the lower spread. The leverage in this account is also unlimited, allowing traders to trade with as much leverage as they feel comfortable with.

Social Trading Accounts

  • The Social Standard account requires a minimum deposit of $500 to start trading. This account type offers a spread from 1 pip, which refers to the difference between the bid price and the asking price of a currency pair. This type of account does not require any commission fees, meaning traders keep all their profits. Moreover, it offers a leverage ratio of 1:200, implying that for every dollar in the account, traders can trade $200. This type of account allows trading in different markets, including forex, metals, and cryptocurrencies.
  • On the other hand, the Social Pro account requires a higher minimum deposit of $2000. However, it offers a lower spread from 0.6 pips, which means potentially higher profits for traders. Like the Social Standard account, the Social Pro also does not charge any commission fees. The leverage ratio is the same as the Social Standard at 1:200, allowing traders to trade $200 for every dollar in their account. The Social Pro account also offers trading in various markets, including forex, metals, and cryptocurrencies.

Exness Demo Account

The Exness Demo Account offers an ideal environment for risk-free practice, skill development, platform orientation, and strategy testing. It is designed to provide novice traders an opportunity to familiarize themselves with the world of forex trading without the fear of making losses. This platform is a powerful tool for honing trading skills and strategies, as it simulates real-time market scenarios. Users can experiment with different trading strategies, learn how to use various analytical tools and understand the platform’s features and functionalities, all without risking any real money. Therefore, the Exness Demo Account serves as an invaluable learning platform for both beginner and seasoned traders to refine their trading skills and strategies.

Financial Assets Available at Exness Philippines

Exness is a financial services company that offers a range of financial instruments for trading in the Philippines. These instruments include:

  • Forex CFD: This refers to Contracts for Difference on foreign exchange pairs. In this type of trading, you speculate on the rise or fall of currency pair prices without actually owning the currencies.
  • Commodities CFD: This is a contract for differences based on the price of commodities like gold, oil, or agricultural products. Traders can speculate on the price movements of these commodities without needing to own them physically.
  • Stocks CFD: This instrument allows traders to speculate on the price movements of individual company stocks. Again, the trader does not have to own the actual stocks; they trade on the price changes.
  • Indices CFD: This is a type of Contract for Difference based on stock indices like the NASDAQ or the FTSE 100. Traders can speculate on the overall movements of these indices, rather than having to trade individual stocks.
  • Crypto CFD: This is a financial instrument that allows traders to speculate on the price movements of cryptocurrencies such as Bitcoin or Ethereum. Just like other CFDs, you don’t need to own the actual cryptocurrencies to trade.

These financial instruments offer traders in the Philippines the opportunity to participate in global financial markets through the Exness platform. Please note that CFD trading involves high risk and may not be suitable for all investors.

Exness Philippines Financial Assets

List of leading Forex Brokers in Philippnes

Is Forex trading with Exness legal?

Yes, trading Forex with Exness is legal. For a safe start on the Forex market, you must sign up for a brokerage company with a good reputation. 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 as soon as your deposit is in your account.

Is it safe to trade Forex with Exness?

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 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: Exness (SC) Ltd is authorized by the Financial Services Authority (FSA) in Seychelles, Exness (VG) Ltd is authorized by the Financial Services Commission (FSC) in the British Virgin Islands, Exness B.V. is authorized by the Central Bank of Curaçao and Sint Maarten (CBCS), Exness ZA (PTY) Ltd is authorised by the Financial Sector Conduct Authority (FSCA) in South Africa as a Financial Service Provider (FSP) and Tadenex Limited (KE) is registered in Kenya and is regulated by the Capital Markets Authority in Kenya.

Exness 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 money. But it also has some problems that are essential to talk about.

Pros 

  • 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 lets traders withdraw money immediately, 24/7. One of the best reasons investors like the platform is its easy use. This may not always mean that the withdrawals are completed instantly, but it ensures the instant initiation of the process. The actual processing time depends solely on the payment provider.
  • 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 multi assets 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. 

Cons 

  • 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 Trading Fees

Trading Fees of Exness  

Exness usually charges fees based on the type of account you choose. Commission fees start at $3.5 each side per lot for the Raw account and $0.2 each side per lot 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.

The minimum deposit for a Standard account depends on the payment method. The Raw Spread, Zero, and Pro accounts have a $2500 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

How to deposit and withdraw money at Exness?

With Exness, there are many ways to make payments, such as credit cards, e-wallets, and bank transfers, all of which have no processing fees. However, remember that some electronic payment systems may charge an extra fee.

The following are the ways you can deposit and withdraw money on Exness:

  • 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.
  • 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 Payment Philippines

    Exness Trading Platforms

    Trading Platforms of Exness Forex Broker

    At Exness, 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.

    Web trading

    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.

     Social Trading

     The Social Trading service from Exness allows you to boost your income by sharing your 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 and if the trades are profitable. In Social Trading, you need to sign up for the platform, publish your strategy, and verify it before you can start. Also, you can promote your strategy by putting an affiliate link on your blog or website.

      Exness Broker Leverage

      Leverage

      Like most Forex brokers, Exness 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.

      Customer Support

      To offer its clients the best trading experiences, 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 – Conclusion

        Conclusion 

        Exness is one of the most well-known and reliable Forex brokers in the industry. 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 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 offers customer support 24/7 so clients, 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, Exness is an excellent option if you want to trade pleasantly. It is a perfect choice for Forex traders as it offers clients appealing trading conditions.