Saturday, 29 July 2017

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Is Exness scam forex broker? Click to see details!

If you are searching about Exness, you will find out a lot of comments said that Exness is scam broker. And also a lot of traders compliment Exness. Before i start trading at Exness, i also research a lot. But it's very difficult to know which comments are real or fake. After 3 years trading at Exness, i made this blog to share you all stuffs i know about this broker.
As an usual forex brokers, Exness has it's pros and cons. It may not good for all traders. Most of traders chose Exness because of exclusive advantages.

1. Exness offers the fastest withdrawal fund solution.

If you are professional traders, you will know that feeling: waiting for your fund withdrawal. There are a lot of risks which scare you. As usual, you have to wait for 3 - 10 days to get your fund. It's a fucking crazy time. Your mind always appears many assumptions: whether this broker is scam? will they give back your fund? Will they... will they...?
For Exness, withdrawal is instant. They offer you some instant payment system which you can get your fund for a second.
Find more information about there payment system here.

I've traded in many big forex brokers on the world and i'm sure fund withdrawal of Exness is the fastest.

2. Exness' Spread is very low.

As a normal trader, before spend hundreds thousand dollar for trading, i have to do some AB testing. I opened accounts at 3 biggest forex brokers: Exness, FXCM, Forex.com. I deposit 100$ each broker and used the copy trading system to open the same positions at 3 the brokers. After 10 lots, profit at Exness is highest. Because it's spread is lowest.
Why Exness' spread is lower than other big broker? Read this article to know more.

As usual, Spread for EURUSD is 0.9 - 1.1 pip and no commission.
For ECN account, spread is low from 0 - 0.2 pip and 2.5$ commission/lot.
This is the lowest spread in the market.

You can check their spread here

3. Exness' leverage is highest.

"The higher leverage, the higher risk". This quote isn't always correct. It's only more risky if you open bigger position without risk management strategy. Let's me tell you how to take advantage of high leverage.

If it's possible, you should choose unlimited leverage. Because when you open positions, your margin will be nearly zero. So, you will have more free margin to stand stably with volatility. But remember, never open positions over 100 times your equity.
Example: All your trading volume size should be less than 0.1 lot if you deposited 100$, event you are using unlimited leverage. This formula will keep you safe and take advantage of high leverage accounts.
To register an Exness unlimited account, read more here.

4. No minimum deposit and low min trading volume.

Low deposit and low minimum trading volume are very important for both fresh and experienced traders. Before making decision to trade with some brokers, you should test that broker first by small positions. Deposit some dollars and test trading conditions such as: spread, execution speed, leverage, deposit and withdrawal speed. 
After you made sure this broker offered clients the best services, trade more with them. Because there are hundreds brokers and we always have to test them. So, lower min trading volume, low deposit is better.
If you are fresh trader, you should open Exness Cent account. For this type of account, you can deposit 10$ and open low position as 10$. If you open 10$ positions, you never loss all your money (10$). Cent is better than demo account because you are trading in real trading condition.
Learn more about Exness cent account here:

If you have more Experiences, you should open Exness Mini account. Mini account is good because there is no minimum deposit limitation, min position = 0.01 lot and very low spread from 0.3pip.
Learn more about Mini account here.

5. ECN account

Most of traders don't want to trade with market maker because they often trade against their customers. So, choosing an ECN broker is the best solution. Exness offer customers both normal account and ECN account. There is zero pread and only 2.5$ commission for each lot. This is the lowest commission for ECN account in the market.
Learn more about Exness ECN account Here

What are Exness’ cons

  1. Complicated register system.

When i registered first account in Exness, i am so crazy with their system. It’s too complicated. At that time, Exness is not popular, i don’t know why i was patient enough to finish it’s account.
2. They don’t have office in most of countries. They only have offices in Thailand, China, Singapore and Cyprus. So, only one way to contact them is by online support which sometime not comfortable for us.
Sum up:
If you still not know what forex broker you should trade, let’s try Exness. Of course i won't say it’s 100% suitable for you but i can say Exness is in top forex brokers you should try.

Forex Tips:

  • There isn’t best forex broker concept. There is most suitable broker only. Before you invest a lot of money, you should trade small fund in top 3 brokers and choose the most suitable broker.
  • If you are fresh traders, don’t trade trial forex accounts. You should trade Cent account. Cent account is perfect condition for new traders.
  • Don’t trade ECN if you are new forex trader.
  • Stop trading for  a while if you lost over 2% your fund.
  • Use high leverage but open small positions. Don’t open positions which are over 100 times your fund. Ex: if you deposit 100$, don’t open positions bigger than 0.1 lot.

Exness scam

About ForexGuru

Hi, I am Peter, a 9 years experienced trader. I have traded with many brokers and there are only some brokers are good to go. So, what i shared you is very useful for your trading career.

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