18 Jun 2021

admin

Overall score: 86

Official Site

Available in Colombia?

Yes

Average Spread for EUR/USD

1 pip

Founded in

2008

Maximum leverage

1:2000

Regulation

FSA, CySEC, FCA, FSCA

Platforms

MT4, MT5, Exness Terminal

Minimum deposit

1 USD

Instruments

Forex, stocks, indices, cryptocurrencies, oil and metals.

Among the advantages of Exness are its excellent payment options for Colombia and cryptocurrency trading. However, the company does not have a beginner-friendly platform and its support chat is staffed by bots (not humans).

Facts about Exness

  • Available in Colombia? Yes.
  • Founded in: 2008.
  • Regulation: FSA, CySEC, FCA, FSCA.
  • Minimum deposit: 1 USD.
  • Maximum leverage: 1:2000.
  • Platforms: MT4, MT5, Exness Terminal.
  • Instruments: Forex, stocks, indices, cryptocurrencies, oil and metals.
  • Average spread for EUR/USD: 1 pip.
Rating
Spreads and commissions ⭐⭐⭐⭐
Instruments ⭐⭐⭐⭐
Platforms ⭐⭐
Payment methods ⭐⭐⭐⭐⭐
Support ⭐⭐⭐
Resources ⭐⭐⭐⭐
Education ⭐⭐⭐⭐
General ⭐⭐⭐⭐

What is Exness? Reviews & Reviews

Exness is a Seychelles registered broker that has been operating since 2008. This company offers trading on a wide variety of assetsranging from Forex and stocks, to cryptocurrencies, indices and oil.

Exness is a trading platform known in ColombiaThe company has good payment methods in the country and a strong community of traders.

We decided to open an account with this broker to tell you what you can expect.

Is Exness a scam? Licensing and regulation

exness_covid

We confirm that Exness is not a scam. This broker is regulated by several entities, such as the Seychelles FSA, Cyprus CySEC, UK FCA and South Africa FSCA.

Since the company is heavily regulated, it is obliged to comply with safety standards. Among the most relevant rules are the protection against negative balance and compensation funds that protect you in case of bankruptcy of the company.

Trading on Exness is quite safe, as the platform is monitored by four different entities.

How to register in Exness from Colombia (5 steps)

Opening an account on this trading platform is easy. Simply follow these instructions:

  1. Log in to the Exness website. On the right hand side you will find the registration form.
  2. Complete the basic information and click "Continue".
  3. Now you need to choose your trading account. You can choose "Demo" if you want to test the platform, or "Real" to make a deposit and trade. 
  4. After selecting an account, you will need to verify your email. Open your inbox and look for the message sent to you by the broker.
  5. Lastly, you will need to verify your cell phone number and personal information.

During the checkout you will have to send photos of a identity card (such as your ID card or driver's license) and an utility bill (such as telephone, water or gas). This is a mandatory process by law to avoid phishing and money laundering crimes.

Exness Account Types

Exness has two categories of accounts: Standard and Professional. These are its characteristics:

Standard Accounts
Standard Standard Cent
Minimum deposit 1 USD 1 USD
Spreads From 0.3 pips From 0.3 pips
Commissions N/A N/A
Maximum leverage 1:2000 1:2000
Platforms MT4, MT5 MT4
Minimum volume per order 0.01 batches 0.01 batches
Recommended for All types of traders Beginners

 

Professional Accounts
Raw Spread Zero Pro
Minimum deposit 200 USD 200 USD 200 USD
Spreads From 0 pips From 0 pips From 0.1 pips
Commissions Up to 7 USD/lot (buy and sell). From 7 USD/lot (buy and sell). N/A
Maximum leverage 1:2000 1:2000 1:2000
Platforms MT4, MT5 MT4, MT5 MT4, MT5
Minimum volume per order 0.01 batches 0.01 batches 0.01 batches
Recommended for Intraday traders Intraday Forex traders Professional and institutional traders.

It is worth mentioning that the platform offers demo versions of all these accounts.

Standard

The Standard account is a reliable option for all types of traders, as it allows trading Forex, metals, digital currencies, indices and energy assets. The account has a minimum deposit of just 1 USD.

Standard Cent

This account is an excellent option for practice, as it works with micro lots instead of standard lots. That means you can make a small deposit and practice with real market conditions.

Raw Spread

If you drive a high frequency strategythis account is for you. With spreads starting from 0 pips and a maximum commission of 7 USD/lot (buy and sell), Raw Spread can work for you if you open several simultaneous trades per day.

Zero

The Zero account offers spreads from 0 pips most of the time for 30 currency pairs, so it is the ideal choice if you are a Forex scalper. However, please note that you will have to pay commissions starting from 7 USD/lot (buy and sell).

Pro

This account is reserved for professional and institutional tradersIt has low spreads and no commission. It is worth mentioning that the Pro account is the only one with instant order execution.

Trading platform

Exness has three trading platforms: MT4, MT5 and Exness Terminal. The first two are widely known tools, while the last one is not for trading, but for previewing the markets.

MetaTrader 4 MetaTrader 5 Exness Terminal
Desk
Web
Mobile
Economic calendar
Temporalities 9 21 9
Indicators 30 38 0
Objects of analysis 23 46 0

MetaTrader 4

exness_diagrama

MetaTrader 4 is the most widely used trading platform among retail traders. This software has several advantagesMT4 offers a wide community, signals, trading robots and a high level of customization. You can use MT4 on computers, browsers and mobile devices.

MetaTrader 5

exness_diagrama_2

MetaTrader 5 is a more advanced platform than MT4, yet ironically not so popular. This software can be useful if you are looking for more timeframes, new order types or faster execution. You can use MT5 on computers, Android, iOS and browsers.

Exness Terminal

exness_diagrama_3

Although you can buy and sell instruments, we cannot define this software as a "trading platform". Exness Terminal has no indicators, news, calendars or analysis objects, so it is more of a "trading platform". "preview tool".

MetaTrader 4 is undoubtedly the best trading platform in Exness.

Exness Trading Instruments

In Exness you find more than 200 instruments ranging from currencies and stocks, to metals and cryptocurrencies. Unfortunately, the company does not offer commodities or ETFs. 

This is the list of available assets: 

💵 Forex
Instrument Average Spread Leverage
EUR/USD 1 pip 0.05 %
GBP/USD 1.2 pips 0.05 %
USD/JPY 1.1 pips 0.05 %

The trading platform has a good number of currency pairs. Here you can trade major, minor and exotic pairs with leverage up to 1:2000.

🛢️ Oil and metals
Instrument Average Spread Leverage
XAU/USD 30 pips 0.05 %
Platinum 57.9 pips 1 %
Brent 9.1 pips 2 %
WTI 8.6 pips 2 %

Exness offers crosses between USD, EUR and GBP, and gold and silver. In addition, the platform offers trading in the most important metals and energy assets, such as palladium, platinum, Brent and WTI.

🗠 Actions
Instrument Average Spread Leverage
Apple 0.9 pips 5 %
eBay 1 pip 5 %
Ford 1.7 pips 5 %

This broker offers trading with the most reputable companies. If you have ever thought of investing in Apple, Netflix or Facebook, you can do it here with deposits as low as 1 USD and margin of 5 %. 

📈 Indexes
Instrument Average Spread Leverage
NASDAQ 100 42.8 pips 1 %
S&P 500 14.2 pips 1 %
Nikkei 225 11.9 pips 1 %

Exness also offers trading on the most relevant stock indices. Whether you want to follow the Dow Jones, the Nasdaq 100 or the DAX 30, you can do it on this platform.

Cryptocurrencies
Instrument Average Spread Leverage
BTC/USD 491.15 pips 0.5 %
LTC/USD 19.3 pips 0.5 %
XRP/USD 44.7 pips 0.5 %

We were pleased to find several fiat currency crosses with cryptocurrencies; an asset that few brokers are offering. The platform allows trading Bitcoin, Ethereum, Litecoin and Ripple.

Exness payment methods for Colombia

Topping up and withdrawing from an Exness account from Colombia is very easy. This broker has several local payment options, such as Colombian banks, Baloto and Efecty:

Bank transfer Credit cards Wallets Cryptos Baloto and Efecty
Minimum deposit 5 USD 3 USD 10 USD 10 USD 10 USD
Processing time (deposits) Instant Instant Instant Maximum 72 working hours Instant
Processing time (withdrawals) Maximum 24 working hours Maximum 5 working days Instant Maximum 72 working hours Withdrawals by bank transfer
Commissions N/A N/A N/A N/A N/A
Comments Deposits and Withdrawals with Colombian Banks Visa and Mastercard accepted Skrill, NETELLER, WebMoney and Perfect Money are available. You can deposit and withdraw Bitcoin and Tether Great Options for Cash Deposits in Colombia

Bank Transfers

On this trading platform you can make transactions with your Colombian bank account. Deposits and withdrawals take no more than 24 business hours and are not subject to fees.

Visa and Mastercard

You can also deposit with your cards Visa and Mastercard (including those generated by virtual services such as Nequi and Bancolombia). However, when withdrawing you will have to specify a bank account.

Online wallets

You can use eWallets Skrill, NETELLER, WebMoney and Perfect Money. Although reloads and withdrawals are instant and free, you may have to pay fees when transferring your money from your wallets to your bank account.

Cryptocurrencies

Exness has a payment alternative that we rarely find: cryptocurrencies. This is one of the few brokers that accept and make payments via cryptocurrencies. Bitcoin and Tether.

Baloto and Efecty

These are two great options for topping up your Exness account in cash. And the best part: deposits are instant and free. However, withdrawals have to go to a bank account.

A bank account is a great way to manage your money. Efecty and Baloto are good alternatives for depositing cash.

Exness Customer Support in Colombia

exness_poddergka

  • E-mail: support@exness.com
  • Phone: 01-800-5189499
  • Live chat?

Usually, our preferred means of support is live chat. But we had to ignore that option at Exness. 

Unfortunately, the chat on this platform is served by a bot instead of a human being. This makes the process of getting help unnecessarily lengthy and cumbersome.

Exness Verdict

Pros and cons
️Minimum deposit as low as 1 USD There is no platform suitable for beginners
️Deposits with Efecty and Baloto No commodities or ETFs trading
️Cryptocurrency trading The chat is attended by a bot and not by human beings.

Exness is a reliable choice for short and medium term trading. With its lower spreads than other companies and MT4 and MT5 platforms, you will surely have a good experience here.

We especially liked the Exness payment methods for Colombia. If you live in the country, you will have no problem topping up your account and withdrawing your winnings later on.

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