Exness is a forex broker that has been in operation since 2008. It is headquartered in Seychelles and regulated by the Financial Services Authority (FSA). However, there are a number of reasons to believe that Exness is a scam broker.
Company Overview
This site is a relatively large forex broker, with over 1 million registered accounts. It offers a variety of trading instruments, including forex, CFDs, and cryptocurrencies. Exness also offers a number of educational resources and a variety of trading platforms.
Does Exness Have Any License?
It is regulated by the Financial Services Authority (FSA) of Seychelles. However, the FSA is not a well-respected regulatory body. It has been accused of being lax in its oversight of forex brokers.
Is Exness Regulated By Any Authority?
In addition to being regulated by the FSA, Exness is also regulated by the CBCA, FSCA, CySEC, etc. You can find their regulation claims on this page: Exness Regulation | Exness Group Licenses
Now, the main thing is, all these regulation firms are not mainstream firms. Most of them cannot authorize any firm, they just can give a certification of joining on their website.
Exness Pros and Cons
Pros:
- It offers a variety of trading instruments.
- Exness offers a variety of trading platforms.
- This website has a large customer base.
Cons:
- It is regulated by the FSA, which is not a well-respected regulatory body.
- This Site is only authorized to provide services to professional clients in the UK.
- There have been a number of complaints about Exness, including allegations of fraud and manipulation.
How Does Exness Reach To Their Prey?
It uses a variety of methods to reach potential clients. It advertises on its website, on social media, and through affiliate marketing. Exness also offers a free demo account, which allows potential clients to try out its trading platform before they deposit any money.
Technical Details of Exness
Minimum Deposit
The minimum deposit for an account is $10. This is relatively low, compared to other forex brokers.
Trading Platform
This Website offers a number of trading platforms, including MetaTrader 4 and MetaTrader 5. These are two of the most popular trading platforms in the world. Exness also offers its own proprietary trading platform, called Exness Terminal.
Spread
The spreads offered by Exness are competitive. The average spread for EUR/USD is around 0.3 pips.
Leverages
Exness offers leverage up to 1:1000. This is very high leverage, and it is important to use it with caution.
Packages and Products They Offer
Exness offers a variety of packages and products, including:
- Standard account: This is the most basic account type. It offers competitive spreads and leverage.
- Zero spread account: This account type offers zero spreads on some currency pairs. However, it does charge a commission.
- Raw spread account: This account type offers the lowest spreads possible. However, it does charge a commission.
- Crypto account: This account type is designed for trading cryptocurrencies. It offers competitive spreads and leverage.
Withdrawal and Deposit Method
Exness offers a variety of withdrawal and deposit methods, including:
- Credit card
- Bank wire
- Skrill
- Neteller
- WebMoney
What Do Their Previous Traders Say?
There have been a number of complaints about Exness, including allegations of fraud and manipulation. In 2019, the FCA fined Exness £1.3 million for misleading customers about its financial strength.
Summing Up- Why Should Not You Trust Exness
There are a number of reasons why you should not trust Exness.
- It is regulated by the FSA, which is not a well-respected regulatory body.
- It is only authorized to provide services to professional clients in the UK.
- There have been a number of complaints about Exness, including allegations of fraud and manipulation.
- The spreads offered by Exness are not as competitive as some other forex brokers.
- The leverage offered by Exness is very high, and it is important to use it with caution.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Exness, you can contact us to get a proper and quick solution to quickly recover your money. You can have some education resources such as updated scammer lists, blogs, guides, etc. Our free consultation will also provide you with some service recommendations to help you in recovering the fund.
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Final Thoughts
Exness is a forex broker that should be avoided. It is not regulated by a well-respected regulatory body, and there have been a number of complaints about it. If you are considering trading with This, we urge you to reconsider. There are many other forex brokers that are more reputable and offer better trading conditions.
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