Overall, this Exness review found that the broker is legit, trustworthy and well-regulated with competitive trading fees. Exness offers low spreads, no commissions and great educational material and instant withdrawals. Exness has a high trust score of 98 out of 99.
In this comprehensive guide, we'll take a deep dive into all the features and performance aspects of Exness. From its user-friendly interface to its impressive range of trading instruments, we'll cover everything you need to know to make an informed decision on whether Exness is the right platform for you.
We'll also explore Exness's security measures and customer support options, so you can feel confident in your trading experience. Whether you're a seasoned trader or just starting out, this ultimate guide to Exness will provide you with all the information you need to succeed in the world of online trading.
Exness Overview
| Broker's Name | Exness |
| 📅 Year Founded | 2008 |
| 🏠 Headquarters | Limassol, Cyprus |
| ⚖ Regulated By | SFSA (Seychelles), CBCS (Curaçao), FSC (BVI), FSCA (SA), CySEC (Cyprus), FCA (UK) |
| 💳 Minimum Deposit | R180 ZAR / $10 |
| 📉 Zar Base Currency? | ✔ Yes |
| 🧾 Account Types | Standard Cent, Standard, Pro, Raw Spread, Zero. |
| 🎮 Demo Trading Account | ✔Yes |
| 💵Deposit & withdrawal methods | Credit/debit card, Skrill, Neteller, QIWI, Cryptocurrencies, Bank/Wire Transfer, |
| 💰 Spreads | Spread depends on account type and instrument. Spreads are always floating. FTSE Spread 1.5 pts (var) GBPUSD Spread 2.1 (var) Oil Spread 0.05 (var) Stocks Spread 0.1% Var GBPUSD Spread 2.1 pips (var) EURUSD Spread 1.6 pips (var) EURGBP Spread 2 pips (var) |
| 📉Instruments Offered | Forex (97), Metals, Stocks, Indices and Energies, Cryptocurrencies (35) |
| 💰 Withdrawal fee | ✔ Yes |
| 💰 Instant withdrawal and deposits | ✔ Yes. Depends on the payment system. This may vary based on the payment provider's processing |
| 💸 Negative balance protection | ✔ Yes |
| 💻 In-house VPS hosting | ✔ Yes, with $500+ deposits |
| ☪ Islamic Account | ✔ Yes |
| 💵 Inactivity fee charged | ❌ No |
| 📱 Platforms | MT4, MT5, Exness Terminal, MT4 Multiterminal, Exness Trader app |
| 🗣 Customer Service | Yes, 24/5 in various languages namely English, Indonesian, Arabic, Japanese, French, Hindi, Portuguese, Russian, Spanish and Urdu. |
| 👩🏫 Education | Exness Academy, Fundamental and Technical Analysis, Market news, webinars & Web TV |
| 🚀 Open an Account | 👉 Click Here |
What Is Exness?
Exness is an award-winning and well-regulated forex and CFD broker that was founded in 2008. It is headquartered in Cyprus and has offices in several other countries, including, South Africa, Seychelles, Russia, and China.
Exness is a popular broker, with over 10 million registered accounts worldwide including in South Africa.
Is Exness Legit?
Yes, Exness is a legit and safe broker.
This Exness review found that the broker is licensed and regulated by several strict and demanding authorities.
Exness is also regulated with FSCA in South Africa making it safe for local traders.
Exness Pros 👍
- Well-regulated in South Africa, United Kingdom, Cyprus, Seychelles & Mauritius
- Instant withdrawals
- Zar account available
- Accepts local deposit methods
- Access to a wide range of trading assets
- Tight spreads
- Wide range of trading instruments (130+ currency pairs)
- Excellent customer support
- Mobile app
Exness Account Types
This Exness review found that the broker offers 5 different accounts under 2 categories; Standard and Pro. Let's look at the specific account features below.
Exness Standard Account
This is the most popular account type which is great for all types of traders. Below are the features of the account.
| 🧾Account Type | Exness Standard Account |
| 💳Minimum Deposit | $10 ( ZAR R160 ) |
| 🌍Zar Account | ☑Yes |
| ⌚Deposit activation duration | Up to 72 hours |
| 🏋️♂️Leverages | 1:2000 |
| 💵Spreads | 0.3 |
| 💵Commissions | ❌No |
| 🚀Order Executions | Market |
| ♻Swap- Free | ✔Yes |
| 💹Instruments | Forex, metals, cryptocurrencies, energies, stocks, indices |
| 🧾Open an Account | 👉 Click Here |
Our Exness review found that the Exness Standard Account Offering is a feature-rich, commission-free, market execution account type with stable spreads, no requotes, and great execution.
Exness Standard Cent Account
The Exness Standard Cent account is denominated in cents, making it an ideal option for traders who want to start with a small investment and minimize their risk exposure. This account also offers competitive spreads, fast execution, and access to only forex and metals trading instruments.
Below are the features of the Exness Cent account.
| 🧾Account Type | Exness Standard Cent Account |
| 💳Minimum Deposit | $10 ( ZAR R160 ) |
| 🌍Zar Account | ☑Yes |
| ⌚Deposit activation duration | Up to 72 hours |
| 🏋️♂️Leverages | 1:2000 |
| 💵Spreads | 0.3 |
| 💵Commissions | ❌No |
| 🚀Order Executions | Market |
| ♻Swap- Free | ✔Yes |
| 💹Instruments | Forex, metals |
| 🧾Open an Account | 👉 Click Here |
The Exness Cent account is more suited for traders looking for an affordable way to enter the forex markets. That's because it has a low minimum deposit requirement.
If you have more money to invest, you may want to consider a different type of account.
The low-risk trading environment of the cent account makes it a good option for expert traders who want to test out new trading instruments and/or strategies
Next, this Exness review looks at Exness professional account types. These accounts which meet the needs of the most experienced traders. Benefits include low spread or spread-free accounts with execution to suit scalpers, day-traders and algotraders.
They are available both on mt4 and mt5.
Exness Raw Spread Account
The account has the lowest spreads with fixed commission per lot and offers market execution.
| 🧾Account Type | Exness Raw Spread Account |
| 💳Minimum Deposit | $500 ( ZAR R8000 ) |
| 🌍Zar Account | ☑Yes |
| ⌚Instant Withdrawals | ☑Yes |
| 🏋️♂️Leverages | 1:Unlimited |
| 💵Spreads | from 0.0 |
| 💵Commissions | Up to $3.50 each side per lot |
| 🚀Order Executions | Market |
| ♻Swap- Free | ✔Yes |
| 💹Instruments | Forex, metals, cryptoсurrencies, energies, stocks, indices |
| 🧾Open an Account | 👉 Click Here |
Exness Zero Spread Account
The account offers zero spread on the top 30 instruments with market execution and no requotes.
| 🧾Account Type | Exness Zero Spread Account |
| 💳Minimum Deposit | $500 ( ZAR R8000 ) |
| 🌍Zar Account | ☑Yes |
| ⌚Instant Withdrawals | ☑Yes |
| 🏋️♂️Leverages | 1:Unlimited |
| 💵Spreads | from 0.0 |
| 💵Commissions | From $0.2 each side per lot |
| 🚀Order Executions | Market |
| ♻Swap- Free | ✔Yes |
| 💹Instruments | Forex, metals, cryptoсurrencies, energies, stocks, indices |
| 🧾Open an Account | 👉 Click Here |
Exness Pro Account
This account offers instant execution with zero commission & low spread.
| 🧾Account Type | Exness Zero Spread Account |
| 💳Minimum Deposit | $500 ( ZAR R8000 ) |
| 🌍Zar Account | ☑Yes |
| ⌚Instant Withdrawals | ☑Yes |
| 🏋️♂️Leverages | 1:Unlimited |
| 💵Spreads | from 0.1 |
| 💵Commissions | ❌No |
| 🚀Order Executions | Instant |
| ♻Swap- Free | ✔Yes |
| 💹Instruments | Forex, metals, cryptoсurrencies, energies, stocks, indices |
| 🧾Open an Account | 👉 Click Here |
How To Open An Exness Account: Step By Step Guide
Opening an Exness account is easy and can be done in less than 3 minutes from the Exness homepage.
- Visit Exness homepage and click on the ‘Register‘ button.
- Enter your details in the sign up page that comes up and click on ‘Continue'.
- At this point, you would have successfully created Exness Personal Area account. Your Personal Area lets you manage all of your Exness accounts.
- You can create a new account by logging into your personal area and clicking on the ‘Open New Account' button in the ‘My Account' area.
- Choose from the available trading account types and whether you prefer a live or a demo account. Enter the details for the account you want to create including leverage, platform (mt4 or mt5), account currency, a nickname for the account, and account password. Once you are satisfied click on ‘Create Account'.
- Your new trading account will be displayed in the “My Account” tab and you can proceed to deposit and start trading.
How To Verify Your Exness Account
After creating an account on Exness you should verify your account. Verifying your identity and address is an important step that helps keep your account and financial transactions secure.
Fortunately, the Exness account verification process is simple and straightforward. Below are the steps you take.
- Log in to Exness Personal Area (PA).
- Click Become a Real Trader at the top of this area to start. This button may appear differently if you have previously started the verification process but did not complete it.
- Verify your phone number by entering it and clicking on the ‘Send me code' button.
- Enter your personal information; make sure your full name entered matches exactly the name shown on your verification documents.
At this point, you can make deposits up to US$2000 but you will have to follow the steps below to fully verify your account. - Complete your economic profile. This includes answering some basic questions about your source of income, your profession, and trading experience.
- Verify your identity by uploading a document that has the same legal name that you used when you signed up for your Exness account.
- Verify your proof of residence by uploading any of the acceptable documents.
Your documents will be reviewed and if all is in order your account will be verified in 24 hours or less. At this point deposit limitations are lifted, while bank card and cryptocurrency-based payment methods become available.
Exness Fees
This Exness review found that the broker has low fees and competitive spreads compared to its competitors.
Here is a breakdown of the key points:
- Low spreads, especially on Pro accounts
- No commission on Standard and Pro accounts
- Commission of $3.5 per side on Raw Spread accounts
- No inactivity fees or maintenance fees
- Lower rollover charges than most other brokers
- No deposit or withdrawal fees, but currency conversion fees may apply if your account's base currency is different from your deposit/withdrawal currency. For this reason, we recommend that you open a Zar account with the broker if you are in South Africa.
Exness Deposit & Withdrawal Options
Exness offers a variety of deposit methods, including credit/debit cards, e-wallets, and internet banking.
Credit/Debit Cards: Deposit funds instantly using your VISA or Master credit or debit card for a minimum of $3.
E-Wallets: Deposit funds using various e-wallets, such as Neteller, Skrill, and Perfect Money. Minimum deposit amounts vary depending on the e-wallet you choose.
Internet Banking Transfer in Rand: South African traders can deposit funds in Rand via ABSA Bank, Standard Bank, FNB, Nedbank, Capitec Bank, and Investec Bank. The minimum deposit amount is R20 and the maximum withdrawal amount is R250,000 per transaction. Deposits are instant, but withdrawals can be slow.
If your account currency is ZAR, there are no commission or conversion fees for deposits made via internet banking. However, if your account base currency is in another currency, such as USD, there will be an exchange rate involved.
Overall, Exness offers a variety of convenient deposit methods with low fees.
Exness Withdrawal Methods
Exness offers a variety of withdrawal methods, including credit/debit cards, e-wallets, and local bank transfer in Rand.
Credit/Debit Cards: Withdraw funds to your credit/debit card with a minimum of $3 and a maximum of $10,000. There are no commissions or fees, and the process takes 1 minute to 7 days to complete.
E-Wallets: Withdraw funds to your e-wallet instantly. Exness does not charge any commission on withdrawals. Check the Exness website for minimum and maximum withdrawal amounts.
Local Bank Transfer in Rand: Withdraw funds to your local bank transfer account in South Africa in 5-7 business days. There is no withdrawal fee, but the process is slow compared to other brokers. If your account currency is ZAR, there are no conversion fees. If your account currency is different, you will see the conversion rate during withdrawal.
Overall, Exness offers a variety of withdrawal methods with low fees and instant withdrawal to e-wallets. However, local bank transfers in Rand can be slow.
Exness Bonus
Exness does not have any bonus available currently. This Exness review found that the broker rarely offers any bonuses or promotions.
If you are looking for brokers offering bonus then you should check out Hotforex’s 100% bonus or XM $30 no deposit bonus.
You can also see a list of the best brokers offering bonuses.
Exness Support
Exness's customer support is slow and could be improved.
Live Chat: Live chat is available 24/7 in English, but there can be hold times and delays in responses.
Phone Support: There is no local phone number for South Africa, so you must call an international number or request a callback.
Email Support: Email support is slow, with responses typically taking 24-48 hours.
Overall, Exness's customer support is not the best, but it is okay once you are connected.
Exness Review: Conclusion
Overall, Exness is a well-regulated broker that has been around for some time. The broker also has low fees and commissions making it a good choice. The instant withdrawal feature is a big plus especially when coupled with the Zar account. This makes it one of the best brokers locally.
The downside is that the broker's support could be better. The broker also does not offer any bonuses and they do not have a local South African number.
Frequently Asked Questions On Exness Broker Review
Yes, Exness has a Zar account that allows South African traders to deposit, trade and withdraw using Rands
Yes, Exness is a good broker that is well-regulated and takes security seriously. The broker also has low fees and offers instant deposits.
Exness processes withdrawals instantly. Withdrawal times will then depend on your bank and the deposit method used.
Traders in South Africa can fund their Exness Trading Account in Rand via accounts in ABSA Bank, Standard Bank, FNB, Nedbank, Capitec Bank & Investec Bank.
Exness minimum withdrawal is $10 R70
Yes, Exness works well in South Africa and is regulated locally. We recommend this low-cost broker to South African traders
Yes, Exness is a trusted broker. It is regulated by several financial authorities, including the CySEC, FCA, and ASIC. Exness has also been in operation since 2008 and has a good reputation in the industry.
Exness's trading fees are competitive. The spread is very low, especially on Pro accounts. There is no commission on Standard and Pro accounts, but a commission of $3.5 per side is charged on Raw Spread accounts.
Exness offers a variety of deposit and withdrawal methods, including credit/debit cards, e-wallets, and bank transfers. Deposits are typically processed instantly, but withdrawals can take up to 7 days to complete.
Yes, Exness is a good broker for beginners. It offers a variety of educational resources and a demo account so that traders can practice trading before using real money.
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