A Comprehensive Overview for 2022
Description: A Comprehensive Overview for 2022
Platform Price: 0.0
Platform Category: Trading Platform
Author: Jeffrey Taylor
One of the main things we need to consider when reviewing a trading platform is its pros and cons, as this is going to help us understand the main overview of how this platform works.
Therefore, we thoroughly investigated and concluded that the following aspects are the most relevant ones you should know before signing up for Exness.
- This platform features competitive prices
- You can enjoy its several trading features
- It features a high maximum leverage
- Exness has a great customer support
- It features several account options
- Exness isn’t available for American traders
- It has a slight learning curve
- Exness doesn’t feature promos
Exness is a crypto trading platform that has gathered hundreds of thousands of clients that benefit from its fantastic variety of features and assets. It allows you to trade cryptocurrencies, forex, precious metals, energies, and many more assets. In addition, you can enjoy its several account types that suit all possible needs you may have.
What Is Exness?
Exness is the name of a global brokerage firm with offices in Seychelles and Cyprus. It is a fantastic trading platform for users all over the world, as it offers tailored brokerage services and solutions, making it easier for individual investors and companies to become top-performing traders.
This brokerage service is fully regulated by the concerning authorities, which allows it to legally offer its services all over the world, except in the US. Nonetheless, you can enjoy its fantastic services if you’re located anywhere else.
Exness is one of the most reliable brokers on the market, as it is highly stable and efficient, which allows you to be completely comfortable during your trading activities. Moreover, it allows you to trade all sorts of assets, which is fantastic for those traders who want to expand their portfolios.
Is Exness Safe?
One of the most important aspects to consider when choosing a trading platform is its security, which is why you are going to be pleased to hear about Exness’s security tools that prevent your account from getting hacked.
Some of these tools are support pins and secondary account verification processes, which include a six-digit code you are going to receive through your phone or email, which you must type in to access your account. Moreover, support pins are provided whenever you contact the customer support department.
In addition, Exness is generally well-ranked among several review websites, making it an ideal and reliable broker for any trader wishing to upgrade their trading business.
Who Are Exness’s Target Traders?
We all know that not all trading platforms are ideal for all traders, so it is crucial to be aware of the main target of each platform. Moreover, Exness is best for medium to high-experienced traders, as it lacks many educational features that new traders would need to understand how everything works.
Nevertheless, you can still use Exness if you’re an inexperienced trader as long as you have some other source of information where you can learn everything about financial technology and cryptocurrencies. In addition, experienced traders can enjoy its wide variety of features, account types, and cryptocurrencies, making it an ideal platform for upgrading your portfolio and trading strategies.
Exness is a fantastic brokerage platform where traders can exchange their preferred assets, no matter where they are. However, many of its customers prefer it over other platforms because of its simple interface, making it very easy to use. However, investors must adhere to these fundamental guidelines to use Exness for their regular trading activities.
Creating a New Account
The first step is to visit the Exness website and look for the sign-up form, which is going to ask you to input some personal data. You are going to be required to provide information such as your email address, username, phone number, and password.
Fund Your Account
After you’re done with the registration form, you must wait for an Exness broker to call you to verify their identification and prevent scammers from opening fake accounts. These brokers may ask clients to provide legal documents and proof of residency. Moreover, to establish monthly financial goals, they may also ask about the economic purpose of the account.
However, you must also fund your account with a $250 initial deposit. This money is meant to be used to buy BTC or another cryptocurrency of your choice from the trading platform. PayPal, debit cards, and credit cards are just a few ways to deposit money. You just need to select your favorite deposit option and execute the transaction. Remember that if you want to simplify this process, you must link your digital wallet to your Exness account.
Buy Your Desired Assets
Finally, users of Exness can begin trading their preferred cryptocurrencies. They can use a broker or the live trading feature of the platform. Furthermore, they might be able to adjust all of Exness’s elements to their benefit if they opt to trade manually.
All trades are displayed in real-time on Exness’s live trading section, along with charts illustrating market activity and trends. In order to receive your cryptocurrency as fast as possible into your account, you must place a specific order, select your preferred payment method, and define a delivery timeframe. However, new traders should practice with the demo version to better understand how Exness operates before putting their money at risk by implementing random and poorly planned strategies.
You can also sell your assets by putting in a sell order and choosing the optimal price. Moreover, you can withdraw your money using any method of your choice, but you should be aware of any blockchain or withdrawal fees you might have to pay and factor such costs into your investing budget.
Exness Main Features
Exness has several fantastic features you can take advantage of once you join the platform. Some of the most relevant ones we found are the following.
- Instant withdrawals. This feature eliminates the hassle of waiting several days to get your money out of the platform, as it allows you to withdraw it in just a few seconds without manual processing. Moreover, this feature is available even on weekends.
- Free VPS hosting. This feature allows you to execute fast and uninterrupted trades, which translates into losing less money due to the volatility of the assets.
- Historical price archive. This feature allows users to check the price data of all assets available on Exness by simply going to its tick history section.
- High trade volume. This is something that turns Exness into a superior trading platform, as it has hundreds of thousands of users who exchange millions of dollars annually.
- Transparent broker. This is one of the most critical features, as it allows you to be entirely safe when using the platform. Exness is completely regulated and has several public reports of its audits and performance indicators.
Exness’s market indicators are pretty effective features that allow you to get all the data you need from the current behavior of your desired asset. It is handy for those advanced traders that need more information than usual to create proper strategies that allow them to be more effective and successful.
This is one of Exness’s best characteristics as it helps traders analyze the current data and indicators of their preferred currencies, which prevents them from blindly investing in them and potentially losing money.
The Economic Calendar is another fantastic tool that’s meant to help you track the current state of your preferred currencies by analyzing events that could potentially trigger market movements. Some of the most common events are national and international news that could make the price of a particular currency go up or down.
It consists of a financial report with events highlighted in chronological order. You are going to find several economic indicators, Gross Domestic Products announcements, monetary policy decisions, etc.
Once you join Exness, you are going to get notifications from this calendar 45 minutes before the news happens, as well as the assets that are likely to get affected by the news, so that you can be prepared to either buy or sell your assets as you see fit. All you have to do is check your email and be aware of these newsletters.
Sentiment in trading consists of several indicators that come from several sources, which traders analyze to create reports of their chosen currencies and understand their behavior to develop new and effective strategies.
Some of these indicators are the percentage of how many traders are exchanging certain currency and their particular position, whether it is long or short. If one of these percentages reaches extreme levels, it can become pretty easy to predict how stable the currency is going to be in the long term.
This feature allows traders to be aware of price reversals and sell their assets when they need to prevent losses.
Another critical aspect you need to be aware of is the pricing of this trading platform, as it doesn’t come for free. However, the great news is that you don’t have to pay management fees with this app. Still, you need to pay an initial deposit of $250, but afterward, you can fund your account with as little as $1.
Keep in mind that although there are no deposit or withdrawal fees, you still need to pay for blockchain and mining fees, as well as the fees of your chosen payment method.
One fantastic Exness perk is that it is compatible with all possible devices, including PC and MAC. Therefore, all traders can easily install this platform into their computers and use it. Moreover, you can use the standard platform MT4 or the most advanced one, MT5, which has many more excellent features for you to enjoy. Nonetheless, you can even use both, as they are entirely compatible with your devices, and this helps you save a lot of precious time.
Although MTF is much more advanced, several traders still prefer MT4, which is why Exness tries to keep both versions as updated as possible and feature all the exciting features traders know and love, such as VPS hosting and constant monitoring of the accounts.
It is also vital to remember that if you’re a forex trader, you can now enjoy the Dow Jones News. This is the leading information provider in the world and has recently been included in Exness to help you improve your trading strategies.
Moreover, you don’t need to worry if you have mobile devices, as Exness features fantastic and simple apps compatible with iOS and Android devices for both versions. This allows you to keep an eye on your investments and stay updated no matter where you are. Moreover, they feature full customization and other features you may find on the desktop versions, such as reports and withdrawals.
Exness is an extremely solid brokerage platform that allows traders from all over the world to exchange their favorite assets in real-time. Still, we know it can be pretty difficult to comprehend, so we gathered the following frequently asked questions section for you to better understand the app.
Is Exness a Legit Broker?
You must know that Exness is regulated and authorized by two highly strict and demanding financial authorities. Once you sign up for the platform, you’re going to be entirely backed up by them, making Exness a highly reputable platform.
Moreover, Exness is going to hold your funds in segregated accounts, ensuring complete protection. It also gives you investor compensation insurance in case the company goes into bankruptcy.
Exness holds client funds in segregated accounts and provides clients with customer protection.
Some of its most relevant registrations and authorizations are by the CySEC, South Africa FSCA, SIBA, FCA, and many more, making Exness one of the safest brokers on the market.
How Much Can I Deposit into an Account?
Although we already mentioned you need to fund your account with an initial $250 deposit, once you do that, you can start to deposit as little as $1 in basic accounts. However, if you have a professional account, you are going to need to deposit at least $200.
Still, remember to check the margin requirements that change depending on the asset you choose, as well as the minimum deposit tied to each payment method.
Which Currencies Does Exness Accept?
You can use Exness with virtually any currency in the world, as all you need is a digital wallet or a bank account. However, its forex section offers 107 currencies, energies, CFDs on stocks and indices, precious metals, and over seven crypto assets.
Can I Withdraw My Money?
We already mentioned that you don’t have to pay any fees or commissions for withdrawing or depositing your money. Moreover, you can choose from many payment methods depending on your preferences. Therefore, you need to check on the fees of each payment method. Some of the most common payment methods are wire transfers, credit cards, debit cards, PayPal, and other e-wallet systems.
Moreover, the most commonly used methods are wire transfers and cards, as they demand the littlest fees. Nevertheless, depending on your country, you may have to pay conversion fees, so you must also check that before creating your budget.
Our Final Verdict
Exness is a fantastic platform tailored for medium and high-experienced traders that offer several incredible analytic features and allows them to exchange their favorite cryptocurrencies. Now that you’ve read this Exness review, you know everything you need to decide whether you want to commit to it or not, but remember that the best way of doing it is trying it out by yourself.