Exness floor, in short, this is one of the most reputable and popular Forex brokers in Vietnam today.
Exness has been operating and developing in Vietnam Forex market since quite early, starting around the years 2012-2013.
Exness is so popular that almost all Vietnamese traders have heard of this broker.
Why is Exness so popular with users? The reason is simple, Exness offers all the best for both novice and professional traders, including:
- High degree of reputation
- Low transaction costs
- Infinity Lever
- Super fast withdrawal
In addition, Exness also offers a Cent account, an extremely useful account type for novice traders.
In the field of Forex, Exness is a real giant, in terms of both size, “wealth” and tremendous monthly trading volume.
Speaking of Exness-riches, I can tell you one piece of information: Exness always has more than $150 million in segregated bank accounts (according to Deloitte’s statistics as of last year). June 2019), this is a very large amount of money that they can handle and fix problems if unfortunately they encounter.(exness broker)
Exness provides users with public and transparent information, you can see the statistics here:https://exness.com/en/financialreports
If you are learning about Forex brokers in general and Exness in particular, then in this article, I will help you evaluate the pros and cons of Exness in the most detailed and objective way, helping you to fully understand and understand the pros and cons of Exness. Make the right choice for you.
Let’s start!
1. Introduction to Exness exchange
Exness was founded in 2008 by a group of experts in the fields of finance and information technology.
One of the co-founders is Petr Valov – an expert in the field of programming, who is also the CEO for this corporation.
Exness Group currently owns many sub-brands operating in different markets.
Exness’ head office is located in Cyprus and operational offices in the UK, Malaysia and Singapore…
Here are the statistics published by Exness on its website
As of May 2021, Exness has over 200,000 active customers
What about trading volume?
Over the years, Exness has always maintained its steady growth.
- In 2019, Average Monthly Trading Volume was $340 billion.
- In 2020, the average trading volume is 565 billion USD.
- In 2021, this is already over $700 billion in average trading volume.
In addition, if you are a true football fan, especially with Real Madrid club, you must have seen the Exness logo appear with this club and their stars. That is yet another factor that shows how large the coverage of this broker is.(Read more : Exness exchange)
2. Operation license and insurance for customers of Exness
2.1. Exness exchange license
As stated in the introduction, the Exness Group operates with multiple entities for a variety of markets. Include:
Exness Limited, an International Business Company in Saint Vincent and the Grenadines with registration number 21927 (IBC 2014), operates the website www.exness.com
Nystar Limited, registered in Seychelles with registration number 8423606-1 and licensed by the Financial Services Authority (FSA) with license number SD025.(Read more : Guide to depositing from Exness forex)
Exness (Cy) Ltd, licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12, operates the website www.exness.eu
Exness (UK) Ltd, is licensed and regulated by the Financial Conduct Authority (FCA) with the Financial Services Registration number 730729 to offer Contracts for Difference (CFDs) under a variety of other underlying investments. each other and operate the website www.exness.uk
2.2. Exness’ customer insurance policy
Exness is complying with many policies to ensure the interests of customers, including:
Directive 2014/65/EU on Markets and Financial Instruments (MiFID II).
Corresponding compensation program: to ensure the fulfillment of claims and to compensate customers in the event of Exness’s inability to pay
Segregated accounts mechanism: this is the mechanism for maintaining customer funds in segregated accounts. This means that client funds are segregated from Exness operating funds and Exness is not allowed to use them for any company activities.
Use an independent audit agency: namely Deloitte, one of the 4 largest auditing firms in the world.
Exness is one of the few Forex brokers operating in Vietnam that allows users to view financial statements openly, transparently and in detail, which I highly appreciate.
With a brief financial statement, users can know the business performance of Exness Group such as:
- Monthly trading volume from 2010 to present.
- Number of active customers
- The amount that Exness clients withdraw every month
- Bonuses for Exness Partners
3. Answer the question: Is Exness reputable? Exness exchange scam or not?
The answer is simple: Exness is an extremely reputable broker and certainly does not scam customers.(Read more : professional trader)
Exness is managed by reputable organizations in the world, with a long history of operation in the market, with a large number of customers and with a huge trading volume, Exness will certainly always make efforts to maintain this condition. that by improving service quality while enhancing its reputation in the eyes of users.
4. Exness trading account types
Exness broker divides account types into 2 types: Standard Account and Professional Account. In there:
- Standard account includes 2 accounts: Standard and Standard Cent
- The Professional account includes 3 accounts: Raw Spread, Zero and Pro.
4.1. Standard Account – Standard
The Standard account is suitable for all Exness traders with extremely low minimum deposits and unlimited leverage.Especially the Standard Cent account for new entrants in the market to minimize risk.
4.2. Professional account
Raw Spread has very low spreads, EURUSD from 0 pips and a fixed commission of 7$/lot.
The spread of the Zero account is lower than the Raw Spread, so the commission will be higher and not fixed (depending on the product). To put it simply, the total fees (spread and commission) of account types will be similar, so the fees will be high and low to compensate for each other.
I do not recommend choosing the Zero account type because commissions on rare metals and currencies are very high.
If the Zero account has a lower spread and a higher commission than the Raw Spread, the Pro account is the opposite.
Note: Pro accounts have slightly higher spreads than Raw Spread but no Commission fees. In addition, with a Pro account, you will be able to trade more than 30 popular securities products such as Apple, Amazon, Ebay, Facebook, Alibaba, Google, Nike…etc.
5. Which Exness account type should you choose?
Exness floor offers 5 different account types, are you wondering what type of account to open?
I would suggest you:
- If you are new to the Forex market and want to experience trading and familiarize yourself with the MT4/MT5 platform, you should open a Standard Cent account.
- If you want to trade at Exness but don’t want to deposit a large amount, please open a Standard account
- If you have experience in trading and want to deposit large amount, you can choose Pro account or Raw Spread
There are some other specific cases depending on preferences and trading styles such as:
- If you don’t want to incur commissions, open a Standard, Standard Cent or Pro account
- If you want to be able to trade popular stock products like Apple, Amazon, Google…then Pro account is the best choice.
6. Exness Floor Products Offered
IMPORTANT NOTICE: Since 11/24/2020, Exness exchange has allowed trading of XAUUSD (Gold) pair for free swap – no overnight fees.
This is an extremely good policy for the followers of “Golden Boy”.
The products that Exness offers can be said to be very diverse. You can find almost any product you want including: Currencies, Crypto, Energy, Stocks, Indices.
Forex: more than 100 currency pairs including 7 major pairs, minor pairs and rare currency pairs.
Metals: Gold, Silver with USD, EUR, GBP, CAD.
Crypto: Currently, the exchange allows trading of 5 products, namely Bitcoin Cash, Bitcoin, ETH, Ripple, Litecoin in the form of CFDs against the Dollar.
Energy: Crude Oil
Securities: 30 stock codes of major corporations and companies in the world such as Google, Facebook, Amazon…
Indices: Exness offers 10 types of indices including Australia’s S&P 200, S&P 500, US30, JP225…
Each product corresponding to each account type has different parameters on Spread and Swap.
Exness offers a lot of advantages for its customers, for example with Crypto products, customers can trade with leverage up to 1:100 for BTC pairs and especially, Exness does not charge overnight fees (Swap). . You should know that most exchanges charge a swap fee for cryptocurrencies and the fees are not low, up to several tens of $/lot.(Read more : forex broker)
Also trading Crypto products is trading 24/7 instead of 24/5 like crypto products.
7. Exness Social Trading Network – Social Trading
In March 2019, Exness Exchange launched its advanced social trading platform (Social Trading).
Previously, copying trades or selling trading signals was the private playground of platforms such as Mql5, Myfxbook or Zulutrade.
But now, with the customer advantage available, some brokers have also joined this game to both attract customers and create the easiest investment tool for their customers.
To be honest, copying signals from brokers in general and Exness in particular is much simpler and faster than on Mql5, Myfxbook or Zulutrade platforms.
With the advantage of being a broker with a huge number of customers, Exness has the ability to attract a lot of experts to join its Social Trading system, and of course, Exness’s customers will be the beneficiaries.
8. Exness Exchange Platform
Exness has 3 trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5) and Webterminal.
Different platforms will have different features and different services provided such as the number of trading products, maximum leverage, available indicators, etc.
Small note: Quite a lot of people are confused when trading at Exness that is Exness using GMT +0 time zone, when you follow candles on Exness floor you will see an excess of one daily candle per week.
Which platform should you trade with Exness?
A little comparison: MT5 is a later platform and will have more advantages than MT4, for example:
- MT5 supports Buy Stop Limit and Sell Stop Limit orders
- MT5 can support more markets: for example, support Crypto trading, stocks…
- MT5 supports more indicators
- MT5 shows more timeframes
So which platform should you choose?
Currently, it seems that Metaquotes is leaning more towards MT5, but with its popularity (MT4 is the most popular platform in the world), exchanges like Exness are still prioritizing supporting this platform.
With Exness, you can only choose MT4 to trade Cent accounts as well as use infinite leverage.
9. Exness floor customer care and support service
One barrier for Vietnamese traders is that not all brokers have Vietnamese support when we need to contact them. Some exchanges have Vietnamese support, the support is not good and users often have to wait a long time.
However, this did not happen with Exness because they did a great job with their customer care and support!
You only need 10 to 20 seconds to wait for a Vietnamese support to appear and help you answer all your questions via livechat.
After the exchange, if you want, you can send a request to Exness to send a transcript of the conversation between you and the exchange’s support to save the important information you just asked.
Instructions for contacting Exness via Livechat
Step 1. Visit Exness website: https://sinvest.vn/home/exness
Step 2. Click the Let’s chat (or Let’s chat) button in the bottom left corner of the website
Step 3. Select the topic you want to ask. If your question is not on the topics Exness suggests, please click Switch to online support to meet Vietnamese support.
Currently, the Exness website supports 13 languages, including Vietnamese, of course.
Exness also provides many forms of support for customers such as livechat, call, email…
Livechat: fastest support, just wait for a few seconds
Email: reply in 2h
Request a callback: response in a few hours
10. Forms of deposit and withdrawal of Exness
You also know that the DEPOSIT speed is fast on any floor, after a few seconds, the account will receive the money. But the WITHDRAWAL speed is different. Which floor is fast, withdraw money in a few tens of minutes, which floor is slow, withdraw money in a few hours to a few days.
As for Exness, the withdrawal speed is INSTANT, which is the outstanding point that makes many traders choose to trade at Exness.
Imagine on a beautiful weekend, you are going out and realize that your bank account is not enough money to pay, then Exness will definitely be a lifesaver for you. Just go to your account, make a withdrawal and immediately TING TING, the money has arrived.
Exness offers many different deposit and withdrawal methods, divided into 4 main categories:
- Bank transfer: Internet Banking, Ngan Luong
- Cryptocurrency: USDT, BTC
- Bank card: Visa, Mastercard
- E-wallets: Neteller, Skrill, SticPay
Again to remind you: Deposits and withdrawals at Exness are INSTANT. The term INSTANT in the words of Exness is a Deposit or Withdrawal transaction executed within seconds without manual intervention of Exness financial processor.
Although the deposit and withdrawal for Exness is instantaneous, there will be some transactions that need to be processed longer, the time that Exness regulates is within 3 hours (however, I have not ever had any problems with withdrawals at Exness)
Which form of deposit and withdrawal should I use at Exness?
In Vietnam market, you should use Internet Banking to deposit and withdraw money at Exness exchange. Because of:
Free transaction, instant deposit and withdrawal speed
Familiar, easy to do
The lowest exchange rate difference
What is the minimum deposit of Exness exchange?
With the form of top-up via Internet Banking portal to Exness floor:
Standard Accounts (Standard and Standard Cent) require a minimum deposit of 15 USD
Professional account types (Raw Spread, Zero and Pro) require a minimum initial deposit of 200 USD, minimum subsequent deposits of 15 USD.
What is the Exness minimum withdrawal amount?
With the form of withdrawal via Internet Banking portal from Exness floor: Minimum withdrawal of 15 USD is required for all account types.
11. Summarize the evaluation of Exness exchange
What is Exness advantage?
Exness is a very reputable broker with leading certificates FCA, CYSEC
The speed of account registration is extremely fast, in just a few hours, the verification process is mostly smooth and easy.
INSTANT withdrawals every day of the week. This is a special competitive advantage compared to other brokers.
Spreads are extremely competitive, among the best on the market today.
Support for infinite leverage (1:unlimited)
Offer Cent account for newbies
Low minimum deposit requirement: from only 1$
Very good customer support service.
Swap-free Gold Trading
What is Exness Cons?
Widen the spread when the market fluctuates
Exness uses GMT +0 time zone so opening and closing times are different from most other brokers that use GMT +2 time zone, which will confuse new traders a bit.
Sometimes the server freezes (this problem has been fixed quite well)
It can be said that, after more than 13 years of construction and development, Exness has become one of the big players in the industry with a monthly trading volume of up to hundreds of billions of dollars.
Regulated by reputable institutions and with distinctive competitive advantages, it is clear that Exness is still showing its appeal to traders around the world.
Personally, I find that Exness has many advantages that not many brokers have, both in terms of transaction costs, customer support services, deposit and withdrawal speed or order processing speed. …
There is some user feedback about the price stretch on Exness exchange causing orders to be scanned. This situation is there, but I find that in all cases, Exness always offers a very satisfactory solution for these situations.
It is not uncommon for major brokers to experience problems, but how they face and resolve the problem is more important.
Exness exchange has made efforts to fix and upgrade its system after problems like Ddos in 2016 to improve server quality and speed of execution, order processing for customers, and service quality. higher service.
All in all, whether you are a newcomer to the market or a seasoned trader, Exness can meet all your needs: high leverage, excellent transaction costs, fast deposit and withdrawal speeds and special features. Especially the excellent customer support service.
