Exness Review: ☑ An Honest Analysis For South Africans (2024)

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 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.

1. Visit Exness homepage and click on the ‘Register‘ button.
2. Enter your details in the sign up page that comes up and click on ‘Continue'.
3. At this point, you would have successfully created Exness Personal Area account. Your Personal Area lets you manage all of your Exness accounts.
4. 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.
5. 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'.
6. 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.

1. Log in to Exness Personal Area (PA).
2. 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.
   
   
3. Verify your phone number by entering it and clicking on the ‘Send me code' button.
4. 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.
   
5. Complete your economic profile. This includes answering some basic questions about your source of income, your profession, and trading experience.
6. Verify your identity by uploading a document that has the same legal name that you used when you signed up for your Exness account.
7. 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