EXness (Cy) ltd is an international brokerage firm, with headquarters located in UK, Cyprus and Seychelles. It was founded by a group of IT professionals and financial experts to cater to different financial products. Founded in 2008, EXness (Cy) ltd has grown over the years and has made its way to the top and is now recognized as a reputable name. The brand’s unique and tailor-made solutions ideal for each client has helped in gaining popularity.
EXness (Cy) ltd is controlled by several financial institutes, such as the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA) for regulatory purposes and also abides by the SFSA regulations. EXness (Cy) ltd has put a lot of focus in the continuous developments alongside the improvements that incur in trading conditions. It is listed on the NASDAQ-100, S&P 500, Dow Jones 30, DAX, CAS 40, FTSE 100, Euro Stoxx 50 and Nikkei 225.
The firm’s clients are able to gain hands-on experience with trading through interacting with the financial experts that are on board with the firm. Customer experience is of crucial importance to the firm which is why a highly trained staff is hired for customer assistance. EXness (Cy) ltd has obtained multiple awards for customer satisfaction, trading technology and other categories that have elevated its credibility.
In this review, we will be going through all the aspects of trading that are dealt by EXness (Cy) ltd including trading tools, their platforms, licensing, rules, regulation, and pricing.
EXNESS (CY) LTD OVERVIEW:
- Automated and instant withdrawals
- A clear record of prices
- Stable spread and smooth execution despite price fluctuations
- Expert accounts and Key accounts
- Availability of forex trading tools
- Sponsored various organizations and has reputable and famous clients
EXNESS (CY) LTD COMPANY PROFILE:
EXness (Cy) ltd is a globally known name in the financial market. With headquarters located in three different places, EXness (Cy) ltd has been able to move along with a divided model. This means that the firm has the ability to cater to individual clients who require tailor-made solutions as well as large corporations and retail clients.
EXness (Cy) ltd falls under the umbrella of the European Union (EU) and is allowed to sell its services within the EEA and globally. All financial services performed by the brand are in line with the demands of the regulatory bodies, CySEC and FCA. The regulation authorities serve as the backbone to ensuring that the firm provides credible and legal services to its clients.
EXness (Cy) ltd performs specialized services in the area of brokerage, finance, financial analytics, Forex and trading. On average, the firm generates an annual revenue of 5-10 million dollars and has employed about 500-1000 employees. The demographic targeted by the firm consists of extremely demanding traders who are completely involved in the game. For this reason, the firm provides an interactive, reliable and comfortable environment to yield optimum results. The firm makes use of the MetaTrader 4 platform which assists in trading multiple CFDs and Futures in a wide variety of markets.
The company has provided sponsorship to various organizations including Real Madrid and has recently signed Cristiano Ronaldo as one of its clients. By 2019, the firm’s trading volume reached a staggering 325.8 billion USD and the number of traders for the firm surpassed 72,721. In the present, EXness (Cy) ltd deals with currency pairs, metals, cryptocurrencies, energies, indices, and stocks.
EXNESS(CY) LTD REGULATIONS:
EXness (Cy) ltd understands the importance of protecting the interests of the trader and its contribution towards building a reliable reputation. Therefore, the firm strictly follows the regulations set in place by the authorities. These regulatory authorities consist of some of the biggest names in the world including is governed by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the UK Financial Services Conduct Authority (FSCA) and the Seychelles Financial Services Authority (FSA).
The FSA in Seychelles is responsible for regulations, licensing, monitor, supervising and implementing policies and has issued a license under the number SD025 in order to authorize the firm to execute financial services. Nymstar Limited is a branch of EXness that allows for trading and brokerage services to be performed by the firm, in areas that fall out of the European Economic Area (EEA) jurisdiction. The FSCA has authorized Vlerizo (Pty) Ltd as a Financial Service Provider (FSP) under the number 51024.
The CySEC has authorized EXness (Cy) ltd under the number 178/12 and ensures that the firm follows the regulations that have been set in place by the higher authorities. In the UK, the FCA has registered the firm under the number 730729 to permit them to carry out financial services within the legal framework. Due to the regulations that are implemented, EXness (Cy) ltd has been barred from carrying out operations in several jurisdictions which also consists of USA.
Exness – Open Trading Account
EXNESS (CY) LTD TRADING PLATFORMS:
EXness (Cy) ltd offers a range of trading platforms for the convenience of its customers. These include the industry standard MetaTrader 4 and MetaTrader 5, alongside mobile applications to assist trading on the go. The firm has also utilized the MetaTrader 4 Web Terminal in order to prevent its clients from getting restricted to just one device.
1. WEB TRADING
While the essence of both, the MetaTrader 4 and MetaTrader 5 is similar, MetaTrader 4 is designed with a more functional and convenient approach ideally suited for retail and world traders. MetaTrader5, on the other hand, is a more advanced version of its predecessor and consists of more powerful tools to enhance the overall trading experience.
Clients can either download or install the MT4 or MT5, via a browser, depending on the preferences. However, the web trading version is slightly less advanced than the desktop version therefore it is not the most suitable option for amateurs.
2. MOBILE TRADING
MetaTrader 4 and MetaTrader 5 are both supported on apps that are available for both, android and iOS users. These apps are designed to keep clients updated at any and all instances and allow for customization, checking of accounts, requesting withdrawals, accessing fee reports and exploring different financial markets.
3. DESKTOP PLATFORM
As mentioned above, the MT4 and MT5 are supported on both android and iOS which means you can run the software on your PCs and MAC devices. The desktop platform has more advanced tools as compared to the web version. The accounts offered by EXness (Cy) ltd are compatible with both versions so clients have the option to decide whether they want to opt for MT4 or MT5 and can even use both at the same time.
EXNESS (CY) LTD DEMO ACCOUNT:
The firm offers clients with the option of opening a demo account to explore the trading world without being exposed to a lot of risk. The features of the demo account are similar to other accounts but clients have the added advantage of not paying any commission fee.
This demo account gives clients a chance to play around and familiarize themselves with the different aspects of trading and formulate an opinion about them. If clients are amused by their experience then they can take their trading one step further and open aPro, ZERO or Raw account, all of which provide the same leverage.
EXNESS (CY) LTD DEPOSIT AND WITHDRAWALS:
There are no fees imposed on depositing or withdrawing money. However, clients can carry out money transactions through the following mediums:
- Debit card
- Bank transfer
- Bitcoin withdrawal
- Profit withdrawal
- Perfect Money
- Yandex Money
ACCOUNT CURRENCIES SUPPORTED BY EXNESS (CY) LTD:
EXness (Cy) ltd supports different currencies which include the following:
- Deals with 107 pairs of currencies
- Has one of the lowest commission rates
- Zero spread accounts
- Wide range of accounts available, depending on the experience level of the client
- Supports over 60 base currencies
- Doesn’t provide a very wide range of markets to choose from
- Passive investment is not supported
- Superficial learning
EXNESS (CY) LTD FEES AND COMISSIONS:
EXness (Cy) ltd.’s charges are very low as compared to the market. The firm does not have a non-trading fee and neither are clients charged an inactivity fee. However, there are other consequences if an account has been inactive for several days.
1. TRADING FEE:
There is a very low trading fee charged by the firm. For the However, clients will be charged a commission of 3.5 USD with spreads starting from 0 pips but for pro accounts that commission fee will also be waived off and spreads will initiate from 0.1 pips.
2. INACTIVITY FEE:
EXness (Cy) ltd does not impose an inactivity fee. For MT4, if a client’s Real account hasn’t been active for 90 daysor has a balance of less than 5 USD, the firm will archive their account. In case of demo accounts, the account gets deleted if it hasn’t been active for 180 days.
For MT5, the Real account gets archived after 15 days of inactivity or a balance of less than 1 USD and the demo account gets deleted after 21 days of inactivity.
CONCLUSION: SHOULD YOU TRADE WITH EXNESS (CY) LTD?
As a brand, EXness has promoted transparency and good customer service. The number of awards won by the firm is a testament to the quality of services provided by them. The firm uses industry standard platforms like the MT 4 and has created different types of account to suit the preferences of their users.
The powerful features incorporated into the website allow for a smooth and effective trading experience which lies within the boundary of legal limits. Trading central services and free VPS hosting are some of the additional features that serve as rewards for clients and enhance their experience. Overall, EXness can be considered as a good option for trading.
EXNESS (CY) LTD FREQUENTLY ASKED QUESTIONS:
1. What is the maximum leverage available in MT5?
The maximum leverage available is 1:2000.
2. Is it possible to change the trading terminal?
Yes, it is possible to change the terminal used for trading.
3. What happens if I don’t use my account for a long time?
EXness (Cy) ltd archives all accounts that haven’t been used for long periods of time.
4. Does EXness (Cy) ltd accommodate Muslim clients?
EXness (Cy) ltd offers Raw Spread, Zero, Standard Cent, Standard and Pro account typesfor its Muslim clients.