Forex Exness Pantip – Exness Forex Review

Although there are many more prominent exchanges than Exness, in the Vietnamese market, Exness is really still the number 1 name, gaining the upper hand, the perfect choice for novice traders.

Exness Exchange

 

(4.5/5)

Minimum deposit	1 $
Maximum leverage	1: infinity
Average spread	1 pip (GBPUSD), 1.6 pips (EURUSD)
Licensing	CySec (Cyprus), FSA
Deposit and withdrawal port	Banknote, Bitcoin, Credit Card, Skrill
Founded year	2008

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If to choose a “national” forex exchange, Exness will definitely be the first name mentioned. Although overall, compared to many other forex brokers, Exness does not have too many outstanding points. Everything is just enough, from products to trading software provided by Exness, or some specialized products such as stocks or ETFs are just popular codes, not “extensive” rich. bowl” like other floors.

However, Exness has a very specific way of developing a strategy that is very suitable for the “style” of Asians, including Vietnamese traders. To be precise, Exness really understands the psychology of traders, so it gives them exactly what they want and needs. Therefore, even though there are many brokers that are better than Exness, in the Vietnamese market, Exness is really still the number 1 name, having the upper hand, is the perfect choice for novice traders. So what does Exness have? Is Exness really worth your trading? Let’s find out with the Exness floor review below.

Exness Exchange History

You may be surprised, but Exness is a fairly old company, having been in business for 12 years, from the time it was founded in 2008, in St. Petersburg, Russia, by “ a group of like-minded professionals in the field of finance and information technology ”.

However, in order for Exness to “go up” as it is today, it must be mentioned that Exness moved its headquarters from Russia to Europe. This resulted in a breakout growth that made Exness the largest retail forex broker in the world. According to a report from Exness itself, “as of December 2019, monthly client trading volume reached $325.8 billion and our number of active traders around the world exceeded 72,721 .”

For that reason, Exness is serving customers from different countries around the world. As you can see, Exness’s website has been localized in 15 languages ​​with offices located in many places, not including 2 main offices located in Saint Vincent and the Grenadines. In addition to the above information, Exness is really a strong financial group with many subsidiaries, including Nymstar Limited securities company. This means that Exness is not only developing strongly in the foreign exchange market, but also expanding its influence to other fields such as securities here.

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Exness is under the guarantee from which agency?

One of the points that ensure the credibility and safety of a forex broker is the licensing and regulatory agency.

This is something we pay close attention to for new traders. Please find a licensed broker to trade, in order to avoid maximum risk for your account. The reason for saying that is because when you deposit money into your account, it means that the floor will be the place to pay for all trading orders as well as the “key box” to keep your money. Therefore, with a reputable trading floor, they will make it difficult for you to withdraw money or lack liquidity, so the withdrawal time usually lasts a long time.

With reputable financial management organizations, when the exchange registers to operate, the liquidity of the exchange will be the most important factor for these agencies to agree to license or not.

Like the FCA, for example, they will often require the exchange to have a separate account mechanism, to ensure that the exchange does not use the customer’s deposit for private or illegal activities. In addition, some places also require the floor to have insurance for customers, if the floor goes bankrupt, customers will receive a certain amount of compensation, depending on the regulations of each agency.

Therefore, to ensure credibility, Exness is no exception when it receives licenses from two leading financial regulators such as FCA and CySec. In addition, Exness is also licensed by regulatory authorities from Spain, Italy, Sweden, the Netherlands and Germany to be able to operate in these markets.

Information Exness is licensed by the FCA, you can see more here .

Not stopping there, Exness is also a member of the Investor Compensation Fund (ICF). This means that traders will receive a maximum compensation of “up to 20,000 EUR, or a claim of up to 90% for investors” should Exness encounter any problems.

In addition to the above points, Exness is also a broker with a separate account mechanism, due to the influence of the FCA license. Therefore, customer deposits are stored by Exness at one the leading banks such as Barclays bank, Baltikums bank, and OCBC bank.

The account division not only proves the financial strength, high liquidity. But as mentioned earlier, it also helps to avoid the situation where the exchange uses the deposit itself to reverse orders with customers, in order to prevent risks or unnecessary losses that affect the interests of traders.

Another point worth mentioning about the transparency and safety of Exness is that the financial statements are fully posted on the company’s website. And these reports are made by Deloitte – one of the global auditing firms in the Big Four group (the world’s top four auditing firms) with the world’s largest professional service network.

What types of trading accounts does Exness offer?

Previously, Exness only provided 4 main account types: Cent account, Mini account, Classic account, and ECN account.

However, true to the criterion that the forex broker understands traders’ psychology and also competes with other exchanges such as ICMarkets, FBS, or XM, Exness has made significant improvements to suit the needs of traders. than. In particular, trading accounts are divided based on 2 software, MT4, and MT5, with 2 main types: standard account and professional account.

• With MT4 software, there will be 2 standard accounts: Standard and Standard Cent, and 3 professional accounts: Raw Spread, Pro, and Zero.
• In contrast, MT5 software, Exness only provides 1 standard account and 3 professional accounts including Raw Spread, Pro, and Zero.

Basically, Exness MT4 and MT5 account types will have a little difference regarding the minimum deposit, and leverage. And most especially, accounts using the new MT5 software can trade CFDs or indices.

If you are a newbie, we recommend using MT4 when trading at Exness. However, if you want to play stocks, you must open an account at MT5. Therefore, you need to be based on your trading need to consider which account to open.

Standard account

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In fact, if you look at the information Exness provides for the three account types mentioned above, you will see that they are quite similar. However, these 3 account types differ mainly in commission and spread fees. And these are also the basic criteria for Exness to add these account types, in order to compete with some other exchanges such as ICMarkets, XM, or FBS.

According to Exness regulations, the Pro account has no commission, while the Raw Spread account will have a fixed commission of 7 USD/lot 2 way. This means that all trading products have a fee of 7 USD. However, with the Zero account type, the commission fee will vary from 7 USD or more, especially with metal products and rare currency, the commission fee can be 10 USD/lot 2 way.

And also because there is a higher commission fee than the Raw Spread account, Exness also favors the Zero account with an extremely low Spread fee, just as the name suggests. Accordingly, traders will enjoy zero spreads on about 30 financial instruments 95% of the time.

In contrast, the Raw Spread account will have a spread of 0 pips or more, slightly higher than the Zero account, and depending on the product, Exness will set a different spread for the Raw Spread.

Compared to the above two types, the Pro account will have the highest spread from 0.1 pips or more, in return for this account Exness will not collect traders’ commissions when trading.

Thus, if you have experience in trading, you can choose 1 of 3 types of accounts in the Professional account that Exness offers. Of course, depending on the purpose of use for you to make different choices.

And with this division, it can be seen that Exness almost meets all the trading needs of traders from beginners to professional traders, as well as is suitable for many different trading plans. of each person.

Leverage, commissions, and spreads

The leverage provided by Exness

Exness is also one of the most reputable forex brokers with the highest leverage today. For accounts using MT4 software, there will be level 1: infinity. Meanwhile, the trading account using MT5 software will be 1:2000.

This is also a point that shows that Exness not only “plays big” but also understands the psychology of Asians in general or Vietnam in particular. And it is because of this attractive level of leverage that Exness has attracted many traders of different ages to participate in trading.

You should note, that although the largest leverage that Exness offers is 1: infinity, depending on the type of product and different deposit amounts, there will be different leverage levels.

Accordingly, if you deposit less than 1000 USD, you will enjoy 1: infinity leverage. If depositing from 1000 USD to 2999 USD, the maximum leverage is only 1:2000. If you deposit from 3000 USD to 9999 USD you only get 1:1000 leverage.

This means, that the more you deposit, the lower your leverage will be. In addition, with a number of separate products, there are also different leverage levels such as:

• The crypto pool leverage is fixed at 1:100 for BTCUSD, BTCKRW, and BTCJPY pairs; and 1:20 for the pairs LTCUSD, BCHUSD, ETHUSD, and XRPUSD.
• Leverage of stocks is fixed at 1:20
• Indices leverage is fixed at 1:100

Information about leverage provided by Exness can be found here .

In addition, if you trade at the time of news, Exness will also have certain requirements such as: “ from 15 minutes before the release of important economic news until 5 minutes after, request Margin for newly opened positions for trading instruments affected by these announcements will be calculated with a maximum leverage of 1:200. After this period, the margin for these positions will be recalculated based on your account balance and selected leverage .”

Spreads provided by Exness

Exness offers extremely comfortable spreads, especially, with the Zero Spread account type you can enjoy zero spreads for 30 different products in 95% of the trading time. Indeed, this is an extremely competitive spread that very few brokers can do like Exness at the moment.

Commission fee provided by Exness

The commission fee is collected by Exness in 2 types of accounts: Zero Spread and Raw Spread from 7 USD or more, with Raw Spread this will be a fixed commission, and Zero Spread accounts depending on the product may be higher…

Products traded at Exness

Exness offers a full range of trading products for you to choose from, including:

• Currencies: 107 pairs of which Exness offers 7 major currency pairs; 25 minor currency pairs and 75 rare currency pairs.
• Stats: 10 stats
• Stocks: 30 codes, including the most popular stocks provided by Exness such as Amazon, Alibaba Group, Apple, eBay, Facebook, Alphabet, or Google…
• Energy: oil (2 codes)
• Cryptocurrencies: 7 pairs which provide 4 main cryptocurrencies including BTC, ETH, LTC, and XRP
• Coins:10 codes which provide 4 main metals: gold, silver, platinum, and palladium.

As mentioned earlier, although Exness does not offer too many products, it is enough for you to trade. In addition, Exness also knows how to “please” its customers when offering some typical product incentives such as cryptocurrency codes. Currently, all forex brokers offer cryptocurrency, but few brokers support this product as well as Exness.

The first point to mention is the super-high leverage of 1:100 for BTC, on par with crypto-margin exchanges like Bitmex. In addition, trading cryptocurrency at Exness will NOT SWAP FEES.

This is a huge advantage for those who play BTC, because this currency pair fluctuates very irregularly, even moving sideways for several dozen days. If you trade in other forex brokers, you will lose a decent Swap fee, at ICMarkets the overnight fee is 20 USD/lot/night for both buy and sell, much higher than gold. In addition, at Exness you are also allowed to trade cryptocurrencies 24/7 like traditional cryptocurrency exchanges (many exchanges combine cryptocurrencies with forex codes, so Saturdays and Sundays are usually closed). floor door does not allow cryptocurrency trading).

Exness-powered trading platform

Currently, Exness provides a full range of trading tools for traders including MT4, MT5 software, and dedicated mobile applications for your convenience to trade wherever you want.

In particular, Exness has a very good security mode, if your account has unusual activities, the floor will temporarily lock your account to verify the source of money, this will sometimes make customers feel difficult. Acceptance is one of the best ways to ensure the security of your account, especially in a time when internet transactions are growing rapidly, and the risk of account hacking is very likely.

MT4 platform powered by Exness

• Supported pending order types: Buy Stop, Sell Stop; Buy Limit, Sell Limit; Take Profit, Stop Loss
• Multi-timeframe supported: 9 default frames
• Maximum leverage: 1: infinity
• Supported account types: Standard Cent, Standard, Pro, Raw Spread, Zero and ECN
• Programming language: MQL4
• Trading products: Forex currency pairs, metals, digital currencies, energies

MT5 platform powered by Exness

• Supported pending order types: Buy Stop, Sell Stop; Buy Limit, Sell Limit; Take Profit, Stop Loss; Buy Stop Limit, Sell Stop Limit
• Multi-timeframe 21 timeframes (default and custom)
• Maximum leverage 1: 2000
• Account Types: Standard, Pro, Raw Spread, and Zero
• Programming language: MQL5
• Trading products: Forex currency pairs, metals, digital currencies, energies, indices, stocks

Thus, looking at the information from the two types of software provided by Exness, you will see that they have little difference between leverage, product, time frame, and programming language.

We also want to remind you again: if you want to trade stocks, you must open an account on MT5 software to be able to trade this product.

Basically, MT5 is an improvement of MT4, so they will have more advantages such as Exness providing more than 38 built-in indicators, 22 analysis tools, and 46 graphical objects for MT5. Meanwhile, Exness’ MT4 only provides 23 analytical objects and 30 built-in technical indicators.

In addition, not only stopping at 4 basic pending orders, at MT5, Exness also provides 2 other types of pending orders: Buy Stop Limit and Sell Stop Limit, which is very familiar orders if anyone has ever traded money. electronics at exchanges like Binance for example. Of course, both MT4 and MT5 are supported by Exness for mobile devices of 2 operating systems, iOS and Android.

Trading Platform WebTerminal

WebTerminal, a web platform by MetaQuotes, has all the basic functions you need for efficient trading and works on all browsers and operating systems. This means that you don’t have to download the software, you can still trade through a web browser, as they still have all the same tools as in MT4. However, they are only compatible with MT4, currently, Exness does not support WebTerminal for MT5 yet.

Thus, you must base your own needs to choose the right trading software. If you are a newbie, mainly trading forex currency pairs, metals, or energies, you should choose MT4 because they are friendly and easy to use. On the contrary, if you want to trade stocks, and indices, using multiple time frames and many different types of pending orders, then MT5 is the choice for you.

Social Trading Trading Platform

Launched by Exness in March 2019, Social Trading is a brand new copy trading service that empowers you to invest in the strategies of experienced traders. It is the ideal service for those who want to invest in the forex market but lack the experience or time to do so.

Getting started is simple: You just need to sign up for an account, find a successful forex trader, and copy strategies from them. If they make a profit then you also make a profit based on the ratio of your funds.

Methods of depositing and withdrawing on Exness

Exness floor allows deposit and withdrawal 24/7 including Saturday and Sunday, super fast only 3-5 minutes.

This can be said to be the biggest advantage of the Exness exchange that up to now no forex broker has kept up. The reason for that is because Exness implements an automatic withdrawal review mode, not manual approval like many other exchanges, so the speed is not only fast, but you can withdraw whenever you want, even in the last 2 days. week.

In addition, Exness also supports many different deposit and withdrawal channels for you to choose from such as Neteller, Skrill, Visa, Ngan Luong, and Internet Banking. As mentioned, because Exness builds an instant deposit and withdrawal system, when you deposit and withdraw through the Internet banking portal, it is done almost instantly in both directions and has absolutely no fees.

Not only that, Exness also helps you to maximize your experience by allowing instant transactions as soon as you sign up for an account without having to verify your identity or verify your address.

According to Exness regulations, for newly opened accounts, when making the first deposit with an amount of less than 2000 USD, traders do not need to verify documents, just register an account to be able to trade immediately.

If after 45 days from the date of registration you have not completed the verification of your documents (including both Identity and Address), you will only be able to withdraw the amount deposited, and you will not be able to Add funds to your trading account using any payment method and Exness will proceed to lock your account.

Thus, after 45 days you will need to perform identity verification and address verification. This can be seen as an extremely interesting point that Exness provides to users. Because many traders often feel that identity verification and address verification are complicated and time-consuming steps. Therefore, allowing Exness to experience the floor right after registering an account will help Exness connect with more traders, which is also a way to help Exness gain the position of the world’s largest retail exchange in recent years.

Exness floor customer care service

In addition to building a Marketing team, and building a fan page specifically for the Vietnamese market, Exness also has an extremely good support team, supporting 24/5 except Saturday and Sunday. You can live chat by clicking the chat button on the right side of the screen or by calling Exness’s call center: at 18004974 for support and advice.

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Summary of advantages and disadvantages of reputable forex broker Exness?

In fact, Exness used to have many complaints about fixing candles and closing orders unexpectedly, but all of them were handled smoothly by Exness. To be fair, Exness is really a “beautiful” floor.

During the past 10 years, there have been many volatile news/events that caused the price of currency pairs to drop thousands of pips, causing high slippage. Typically, the Flash Crash related to CHF in 2015, caused USDCF to drop by 1866 Pip in just a short time, causing many traders to burn out their accounts or lose money at that time.

Not only traders, even the Swiss Central Bank (SNB) also announced a record loss of 51 billion USD, this event also caused many brokers to struggle, looking to shirk responsibility. However, Exness is one of the rare exchanges that have a plan to compensate customers.

Exness has compensated more than 15 million USD for the historic drop of the CHF. Not only that, but Exness also compensates many other times when the floor system has problems, like DDOS in 2016 for example. Or as recently as 2018, Exness also had problems with the JPY currency pairs. But instead of denying it, Exness handled it very professionally, compensating all customers whose accounts were burned. Meanwhile, for trading customers, profits from this currency pair remain unchanged, not withdrawn. Therefore, traders did not “give up their possessions and run for people,” on the contrary, they also appreciated the professionalism and quick handling of problems from Exness, to stick with the exchange for a long time.

Not stopping there, Exness is really a forex broker with great financial potential. There is always around $200 million deposited in Exness’ segregated bank accounts, 4 times the total amount of the deposit, used by Exness to compensate clients when problems arise.

Furthermore, Exness is an extremely transparent broker. You can find out all the information about Exness right on their websites such as trading volume, number of active clients, client deposits, or company funds. Transparency is extremely important to help traders check the financial situation of the exchange, to make sure they are safe for traders.

In addition to the above points, allowing withdrawals on both weekends is also a big plus for traders to come to Exness. So, if you love fast withdrawals, like to withdraw anytime, anywhere including 2 weekends. If or like to trade with great leverage, but just want to deposit a minimum amount to both learn and experience, then Exness is really your platform worth signing up for and trading!