If to choose a "national" forex exchange, Exness will definitely be the first name mentioned. Although overall, compared to many other forex brokers, Exness has almost no 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. Strictly speaking, Exness really understands the psychology of traders, so it gives exactly what they want and need. Therefore, even though there are many brokers that are superior to Exness, in Vietnam market, Exness is really still the number 1 name, having the upper hand, and 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.
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 trader 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.
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What types of trading accounts does Exness offer?
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With MT4 software, there will be 2 standard accounts: Standard and Standard Cent and 3 professional accounts: Raw Spread, Pro and Zero.In contrast, the MT5 software, Exness only offers 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 in regards to minimum deposit, 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 base on your trading needs to consider which account to open.
Standard account
This is an account type designed by Exness for novice traders or for those who want to test the floor, test the EA. Therefore, the minimum deposit is extremely low, only 1 USD, with leverage up to infinity (for accounts opened in MT4 platform) and 1:2000 (for accounts opened in MT5 software).
In the standard account, there are two types of smaller accounts: Standard account and Standard Cent account.
These two account types have many similarities, only slightly different in terms of deposits as well as trading products.
If Standard account money will be in USD, then Standard Cent account of Exness money will be in Cent. For example, if you deposit 10 USD, the Standard Cent account will not show as 10 USD, but 1000 Cent instead. This will help increase trading opportunities for traders, especially novice traders. Minimizing the level of risk because the trading lot is much smaller, so the amount you lose will not be as large as the account type is calculated in USD. And most importantly, you get to experience all these points on a real account, because you make a deposit to trade, not a demo account. So learning and gaining experience from the market will also be much faster than when you play with a demo account.
However, with the Standard Cent account provided by Exness, you will be limited in terms of trading products, only trading forex currency pairs and metals. If you want to trade cryptocurrencies, energies and indices, you must open a Standard account.
Professional account
As the name suggests, this is an account for traders who have had time to trade, so Exness requires a minimum deposit of 200 USD or more, much higher than the standard account. In addition, in each account type, there will be different specific rules for you to choose from. In the professional account, Exness also divides into 3 smaller account types: Raw Spread account, Pro account and Zero account.
Raw Spread account
Minimum deposit: 200 USD
Maximum leverage: 1:2000 (with account opened on MT5 platform) and 1: infinity (with account opened on MT4 platform).
Commission Fee: fixed 7 USD/lot 2 way
Word difference: 0.0
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| Exness is an extremely transparent broker. |
Pro account
Instant Execution Account. Quick order completion and no slippage.
Minimum deposit: 200 USD
Maximum leverage: 1:2000 (with account opened on MT5 platform) and 1: infinity (with account opened on MT4 platform).
Magnetic difference: 0.1
Trading Commission: No fee
Zero Account
Enjoy zero spreads 95% of the trading day for 30 pairs.
Minimum deposit: 200 USD
Maximum leverage: 1:2000 (with account opened on MT5 platform) and 1: infinity (with account opened on MT4 platform).
Word difference: 0.0
Summary of advantages and disadvantages of reputable forex broker Exness?
Advantages
The registration process is quick and simple. From registration to approval of identity verification and address verification, it takes only a few hours. Even at Exness, you don't need to verify your identity, you can still trade with amounts less than 2000 USD.
Super fast withdrawal only 3-5 minutes, especially Exness allows withdrawal on Saturday and Sunday, something that not all reputable forex brokers can do.
Super good spread, more than 30 products with zero spread 95% of the time.
Low deposit from 1 USD or more
Friendly, professional and fast Vietnamese support team
Defect
When news is out, the spread is still stretched.
Orders still get requoted sometimes, especially in Standard Cent accounts
If you read this far, you understand why Exness is trusted by so many traders?
In fact, Exness used to have a lot of complaints about fixing candles and closing orders unexpectedly, but all of them were resolved smoothly by Exness. It's fair to say that 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) 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 has a plan to compensate customers.
Exness has compensated more than 15 million USD for the historic drop of the CHF. Not only that, 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 customers who trade, profits from this currency pair remain unchanged and are not withdrawn. Therefore, the trader did not "give up and run for people", on the contrary, he also appreciated the professionalism, quick problem-solving method 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 website 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 to become exness broker. So, if you love quick withdrawals, like to withdraw anytime, anywhere including 2 weekends. 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!
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