WikiFX Review: Is Exness trustworthy?

What does Exness look like？

Exness was founded in 2008 by a group of engineers with a passion for science. Building on the cornerstones of science and ethics, Exness enhances the trading experience of traders worldwide with an “algorithm-led product” approach and ethical business practices. But how reliable is Exness really？

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of Exness based on the facts.

What is WikiFX？

To explore whether Exness is a scam or not, we evaluated Exness from different aspects, such as regulatory status, exposure, etc.

1. Evaluate the reliability of Exness based on its general information and regulatory status

To understand Exness better, we explore Exness by analyzing main perspectives:

A. General Info of Exness

B. Regulatory Status

C. Fund Security

A. General Info of Exness

Exness s general info has been shown below:

(source: WikiFX)

(source: WikiFX)

As a company with many top regulatory licenses in recent years, Exness has grown rapidly, which depends on not only luck but also on the influence of the unique service and company culture.

Based on its website, Exness supports 15 languages, including English, Chinese, and Thai.

Market Instruments

Exness provides investors with a variety of financial instruments, including currency pairs, metals, encrypted digital currencies, energies, indices, and stocks.

Minimum Deposit

To meet the investment needs of different investors, the broker has set up standard and professional accounts. The MT4 standard account is divided into three account types: the Standard Account & the Standard Cent Account, with the minimum deposit of both account dependant on the payment system. MT5 contains a Standard Account, and the minimum deposit is US$1. MT4 for professional accounts includes Raw Spread Accounts, Zero Accounts, and Pro Accounts. MT5 is also divided into Raw Spread Accounts, Zero Accounts, and Pro Accounts.

Leverage

The maximum leverage available on the Exness platform is up to 1:2000, which is incredibly high. Inexperienced traders should take caution with high leverage, for it can not only magnify potential profit but can also increase investors' risks.

Spreads & Commissions

The minimum spread for MT4 standard accounts & standard cent accounts is 0.3, and no trading commission is charged. The minimum spread of the MT5 standard account is 0.3, and no commission is charged. The minimum spread of the raw spread account of the MT4&MT5 professional accounts is 0.0, and the handling fee per lot/per unilateral trade is 3.5 USD. The minimum spread of the zero accounts is 0.0, and the handling fee per lot/per unilateral trade is 3.5 USD. The minimum spread for the Vanguard account is 0.1, and no commission is charged.

Trading Platforms

Exness uses leading trading platforms on the global trading market, including MT4, MT5, and WebTerminals. Traders can develop and implement trading strategies of various levels of complexity through MetaTrader 4 and submit most types of trading orders by using two order execution methods: instant execution and market execution.

Deposit & Withdrawal

Exness provides a variety of deposit and withdrawal options for traders to choose from, including Bitcoin, SticPay, TEDA coins, VISA/MASTERCARD bank card, NETELLER, Perfect Money, WebMoney, Skrill. The broker does not accept direct payments or other payments like third parties. The company reserves the right to investigate, cancel, or charge handling fees/fees (depending on the payment method) for any withdrawal request issued by a trading account without transaction activity.

B. Regulatory Status

The legitimate license of Exness

According to WikiFX, Exness has several branches under regulation: Exness (UK) Ltd authorized and regulated by FCA in the UK (license number 730729); Exness (Cy) Ltd regulated by CySEC in Cryprus, with regulatory license number 178/12; VLERIZO (PTY) LTD authorized and regulated by FSCA (regulatory license number 51024), Nymstar Limited regulated by FSA in Sychelles, with regulatory license number SD025.

(source: WikiFX)

According to its website, Exness B.V. is also regulated by the Central Bank of Curaçao and Sint Maarten with license number 0003LSI; Exness (VG) Ltd is authorized by the Financial Services Commission (FSC) in BVI with registration number 2032226 and investment business license number SIBA/L/20/1133.

C. Fund Security

Exness is a member of the Financial Commission, an international organization engaged in the resolution of disputes in the financial services industry for the forex market.

2. The feedback from Twitter

To figure out whether Exness is a scam or not, we made a survey about Exness on Twitter.

Reviews on Twitter:

(source: Twitter)

• As of March 25, 2022, Exness does have an official account on Twitter. This account was opened in 2009. And it currently has 33.3K followers. It interacted with people very often, and Exness is willing to solve problems that clients met.

• Exness currently won the “Best Crypto CFD Broker” Award during the Dubai Crypto Expo 2022.

3. Exposure related to Exness on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

As of March 25, 2022, WikiFX didn't receive any complaints related to Exness yet.

4. Special survey about Exness from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

According to WikiFX, Exness has been given an excellent rating of 8.99/10.

(Note: Because different regions have different levels of regulatory strictness, the score of the same broker might be slightly varied in different regions. For details, please consult WikiFX customer service.)

(source:WikiFX)

Based on the information above, we can see Exness is doing a great job in every aspect.

B. Field Investigation

• To help you fully understand the broker, WikiFX investigates the brokers by sending surveyors to the brokers' physical addresses.

• On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

• WikiFX did make a field survey on Exness on Dec 2018 and the survey team successfully found the physical address.

“The authenticity of Cyprus licensed broker -Exness's real office address matches its regulatory information. Investors can take the broker into consideration.” surveyor reports.

(source: WikiFX)

5. Conclusion:

From the beginning, Exness' mission has been to create an “honest and trustworthy brokerage”. As the broker who has $1 trillion in monthly transactions, Exness shows us how reliable a big confident company really is. If you want to choose a trustworthy broker to invest in, Exness is a wise choice, although some other brokers are also as good as Exness.

If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.