To trade foreign currency online in 2008, Exness is a good choice. The organization has come a long way since it was founded and now ranks among the most prominent names in online Forex trading. The broker’s platforms are popular for their simplicity and transparency. Foreign exchange (Forex), contracts for difference (CFDs) on cryptocurrencies, metals, energies, stocks, indices, and many other asset classes are all available for trading through Exness’s five standard trading accounts, professional traders have a variety of options. The Standard and Standard Cent accounts are the two basic types of standard accounts, and both of them do not charge any fees. Practice accounts and swap-free accounts suitable for Muslims can also be opened.
How Secure Is Exness?
Since 2016, Exness has been licensed by the FCA (license number: 730729), and since 2012, it has been licensed by the CySEC (license number: 178/12), and beginning in 2020, it will be licensed by the FSCA (FSP:51024). The Investor Compensation Fund will if Exness cannot pay its valid claims to its customers. Due to its reluctance to adopt a social trading feature, traders view Exness as a more conventional broker in market innovation. However, Exness’s continuous $450 billion yearly revenue suggests that its lack of social networking exposure has not impacted its business.
Fees & Commissions for the Exness Group
Analyze from the Exness Kenya review, it studied commissions and fees paid by Kenyan traders on exness Group. The various trading and non-trading fees faced by traders were examined as part of the study. Depending on the account type, traders may expect to pay anywhere from $3.50 in fees, enjoy spreads between 0.01 and 0.3 pips, or trade commission-free with Exness.
Exness Tradable products
With 107 currency pairs to choose from, Exness offers one of the most comprehensive forex market coverages accessible today. A total of seven cryptocurrencies and twelve metals are available, which should satisfy the needs of even the most active forex traders. Forty Contracts for Difference (CFDs) on markets and indexes provide a wide range of access across markets. Forex traders can choose from an unrivalled selection of currencies made available by Exness, a reputable forex broker. Unfortunately, the small number of shares it offers would disappoint market traders.
Exness ZAR account
If you are a trader in Kenya, you can open a ZAR account with Exness. Once you have set ZAR as the account currency, you will not be able to switch it. If you open an account in Kenyan Currency (ZAR), you will not be able to convert the funds to U.S. Dollars afterwards. However, if you want to trade in a different currency, you can do so from the Exness client panel. Both the Standard and Pro accounts that Exness offers can have Kenyan Currency (ZAR) as the coin.
Exness Insight
Exness delivers videos of future market events with technical and fundamental analysis and a regular economic calendar. This service is available through Trader Central and is helpful for new traders.
Exness vs OctaFX
Do beginners like Exness and OctaFX?
Both brokers are great options for new traders because of the high quality of their trading tools, research, education, and copy trading services.
Do Exness or OctaFX use Bitcoin?
Exness vs OctaFX accept Bitcoin for deposits and withdrawals, allowing Bitcoin to be traded as a leveraged CFD contract.
Are OctaFX and Exness in the USA?
Customers from the United States are not welcome at either OctaFX vs Exness.
Is it legal to trade with OctaFX or Exness?
In all cases, legality must be determined according to applicable local rules, the only limiting factor is the broker’s acceptance of the application, as the law does not restrict doing so in most nations.
Verdict
Exness is a trustworthy broker with twelve years of experience. Retail operations in the U.K. and Cyprus were intentionally ceased. This broker draws global traders with 1:2000 leverage. The Pro Account offers the finest trading conditions for most traders with 0.6 pips commission-free consistent spreads. Active Forex traders have access to 107 currency pairs, a market-leading number. However, the default trading platforms are MT4/MT5. They will be at a strategic disadvantage if they do not use external plugins. Each trader needs to examine the benefits and drawbacks of the services individually before committing.
