No, Exness is not a scam it operates under relevant country’s legal requirements authorized by FSCA South Africa providing low risk Forex and CFDs.
- Well regulated
- Good customer service support
- Well-developed platforms
- Innovative
- Not available in some countries
- No social and copy trading
Is Exness safe or a scam
No, Exness is not a scam it operates under relevant country’s legal requirements authorized by FSCA South Africa providing low risk Forex and CFDs.
Is Exness legit?
Exness Group due to its presence in various countries and established offices regulated by necessary local authorities that also highly respected within the industry. Exness UK Ltd is authorized and regulated by the Financial Conduct Authority, while Exness CY Ltd holds a license from CySEC.
Thus, the broker permitted to provide financial products or services within its activity in above mentioned countries and in another country in the EEA. Also, there is a license from an offshore Seychelles, which rather provides just registration than serious regulation, yet additional licenses from reputable authorities make things and Exness offers reliable.
How are you protected?
Therefore, and due to operational standards that are set according to the requirements along with the customer protection, money segregation and participation in investor compensation fund or scheme. The EEA registration and the provision of services on a cross-border basis performed by authorization from cross authorities within Europe that makes Exness operation standards highly reasonable ones.
Leverage
As the majority of Forex brokers, Exness also offers to use leverage, which may increase potential gains through its possibility to multiple initial accounts balance.
Leverage levels always depending on the instrument you trade, as well defined by the regulatory restrictions and your personal level of proficiency.
Since FCA and CySEC along with its European directive miFID significantly lowered the possibility for leverage levels, the maximum leverage you may use as a retail trader is
1:30 for major currencies,
1:20 for minor ones
1:10 for commodities.
Yet, a global entity of Exness may allow much higher leverage ratios up to 1:1000, which are also defined by the country of your origin.
And of course, always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments.
Market Instruments
The markets that you can trade with Exness offers popular Forex with 107 currency pairs, CFDs on Stocks and Indices, Energies, Metals and 7 Cryptocurrencies.
Deposits and Withdrawals
Exness performs instant deposits and withdrawals with no commission charges using a number of electronic payment system that provides control over your trading account funding at convenience.
Deposit Options
The payment options including the possibility to use either method so you can always choose a suitable one. Exness typically does not charge any deposit fees or internal charges, you payment provider according to the residence might add on some fee, so make sure to verify it.
