EXNESS

To continue the discussion:
https://www.myfxbook.com/community/general/how-i-got-ripped-off/429695,14#?pt=2&p=1&o=429695

BellaVista507 posted:


 Well here is the best question to support exness. Does exness force you to enter a buy/sell order? Most brokers claim that EXNESS has cost them money. Yet when you look at the persons trades. The trader has a huge pip drawdown (as swing traders usually have), not to mention they have no actual strategy. Yes exness may have a 1.5 pip spread the all of a sudden it becomes 10 pips. Yet that ONLY occurs during NEWS RELEASES. Any experienced scalper or trader knows to stay away from a currency during that time.

 Exness is not the best broker for scalping, but they are not be blamed for your horrible entry point which ends up in you losing funds.

I'm a technical trader, but, aren't there 'news releases' every hour of every trading day...Maybe try to limit your excuse a bit more, because as it stands is just reinforcing my claim of constant possibility of large spread inconsistency.

You are right, 90% of traders will be losers. But, surely then 100% of traders will be losers when you shut off their mt4 platform when they try to close the trade in profit..innit

Yes exness may have a 1.5 pip spread the all of a sudden it becomes 10 pips. Yet that ONLY occurs during NEWS RELEASES. Any experienced scalper or trader knows to stay away from a currency during that time.

 Exness is not the best broker for scalping, but they are not be blamed for your horrible entry point which ends up in you losing funds.
To widen the spread during news is one thing, and everybody can understand this. This is NOT what Exness does. At night, when the market is not moving at all, try to open a 1 LOT pending STOP BUY order 10 pips above the actual price, and a STOP SELL order 10 pips under the actual price, you will see quickly a nice wild spread increase to hit your both orders ... THAT'S what Exness does ... Proofs are on FPA with the above link submitted. I have seen more than 40 pips spread on EUR/CHF when we were stuck on 1.20 to search stops under 1.20, and this happened almost every days during a period, only the evening when market was really calm. No news.

Please continue on the forum too if you want.

Barbarian: Thank you for your post. I totally agree with all that you wrote. It is true that Exness post a lot on forums: Under their name, and under other names, saying it is the traders fault, defending Exness or promoting it as the absolute best broker on earth (and often accusing scammed traders to work for a competitor and post false stories, lol)

PLEASE do NOT do the same mistake as me: I was at one point in the EXACT same situation as you. I had noticed their tricks, but wasn't too sure about if they were scamming me on purpose or having, like you say a 'crap service'. And EXACTLY how you've done it, I ADAPTED my trading successfully. But later, as I earned back some money, they just did far worse to prevent me from being able to withdraw that money. And afterwards I really kept on asking myself: 'How can I have been so stupid ? I perfectly knew they were dishonest, why did I continue ? It was so obvious !'. So please don't do this mistake. I totally understand that psychologically, you want to recover and get your money back. But you also know that it is the same if you withdraw what you have left and recover with another broker, an HONEST one. You even will be able to do some better trading, and more importantly: If you win too much with Exness, you probably won't be able to withdraw, so leave while you still can !

If you want to invest some time: Read the thread here and on FPA (the 2 links posted before) and understand that you should leave Exness as soon as possible (this is only my opinion, but read and make an opinion by yourself).

If you want to continue to discuss, please post in the thread on the forum here, and I will reply there too, as we are in the 'Broker review' section here.

Turtlesrus posted:
I have a so called ndd account with them and have had it for some time now. So, I have to say I support what you are doing here by trying to shine a light on these seemingly shady practices. Their widening of spreads (from promised max 2 pips to about 10 pips) on major pairs smack in the middle of the day cost me a large chunk of my account from which I had to recover by switching my whole method of trading --from intraday to longer term trading --not to mention that trying to scalp with them is virtually impossible. Requotes are a frequent, sometimes big slippage...It all happens, everything bad that can happen to your account WILL HAPPEN in Exness!
But, they just couldn't stop me from shorting Euro crosses since this Cyprus crisis happened and soon I will have all the money needed to have my account at where I can withdraw it all and say adios forever. My only concern here is that I'm pointing a finger at people that work in the company for something that is perhaps a software issue with DD platform and that it wouldn't happen in their supposed ECN accounts...You know, maybe they are not scammers but instead running a crap service....One thing that pisses me off though is when they come on forums like these and fault the loss on traders 'because they aren't trading properly'...lol...Its equivalent of hosts of the 'Wipeout' (show on ABC channel) saying to contestants how they are clumsy and that is why they can't finish the course without falling over and over.

I truly don't want to be unfair towards the mentioned company, but this is my true sentiment after witnessing all the crap disconnects, spread widenings, requotes, moving of stops and slippage on this account that I've tried to manage .

Cheers and keep us updated.

 Well here is the best question to support exness. Does exness force you to enter a buy/sell order? Most brokers claim that EXNESS has cost them money. Yet when you look at the persons trades. The trader has a huge pip drawdown (as swing traders usually have), not to mention they have no actual strategy. Yes exness may have a 1.5 pip spread the all of a sudden it becomes 10 pips. Yet that ONLY occurs during NEWS RELEASES. Any experienced scalper or trader knows to stay away from a currency during that time.

 Exness is not the best broker for scalping, but they are not be blamed for your horrible entry point which ends up in you losing funds.

I have a so called ndd account with them and have had it for some time now. So, I have to say I support what you are doing here by trying to shine a light on these seemingly shady practices. Their widening of spreads (from promised max 2 pips to about 10 pips) on major pairs smack in the middle of the day cost me a large chunk of my account from which I had to recover by switching my whole method of trading --from intraday to longer term trading --not to mention that trying to scalp with them is virtually impossible. Requotes are a frequent, sometimes big slippage...It all happens, everything bad that can happen to your account WILL HAPPEN in Exness!
But, they just couldn't stop me from shorting Euro crosses since this Cyprus crisis happened and soon I will have all the money needed to have my account at where I can withdraw it all and say adios forever. My only concern here is that I'm pointing a finger at people that work in the company for something that is perhaps a software issue with DD platform and that it wouldn't happen in their supposed ECN accounts...You know, maybe they are not scammers but instead running a crap service....One thing that pisses me off though is when they come on forums like these and fault the loss on traders 'because they aren't trading properly'...lol...Its equivalent of hosts of the 'Wipeout' (show on ABC channel) saying to contestants how they are clumsy and that is why they can't finish the course without falling over and over.

I truly don't want to be unfair towards the mentioned company, but this is my true sentiment after witnessing all the crap disconnects, spread widenings, requotes, moving of stops and slippage on this account that I've tried to manage .

Cheers and keep us updated.

Turtlesrus posted:
Mevo, I don't quite understand why did they have to close 'all your transactions' after the discontinued pair was solved. Why couldn't yo close the EURUSD pair on ur own?

It has already been posted to FPA, here: https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/21964-exness-scam.html
and there is a thread here on MyFxBook too: https://www.myfxbook.com/community/general/how-i-got-ripped-off/429695,14#?pt=2&p=1&o=429695

All trades had to be closed at the same time as they were hedging each other. You will find all explanations on FPA if you want.

Mevo, I don't quite understand why did they have to close 'all your transactions' after the discontinued pair was solved. Why couldn't yo close the EURUSD pair on ur own?

Mevo posted:
I would say that Exness has the best conditions you could dream of: Incredible spreads that are as good as best ECNs like LMAX or DUKASCOPY without any fee, and amazing swap rates (Maybe the best you can find). And you can have 30% rebates on top of this (I was with BestForexCashback, which had always been great). I told myself a few times that it was too good to be true, and unfortunately I was right, but at the same time, I was stupid too (won't change anytime soon I guess) and continued trading anyway as everything was fine for approx 6 months.

Then, as I was making too much profit I guess, happened what obiously would happen: I got SCAMED !

One part of my trading was arbitraging EURO against LITUANIAN LITAS by selling EUR/USD and selling USD/LTL, as the exchange rate is quite fixed. Was making profit, and earning good swap on USD/LTL shorts during the time I was keeping the positions open.

What EXNESS did is that they simply *DISABLED* trading on the USD/LTL pair, so I got stuck with more than 9 lots on USD/LTL shorts, and couldn't do anything anymore: Impossible to close any order, open new ones, change TP or SL. Of course, they did this without any notice. I emailed, chatted, and did whatever I could to make them let me manage and close my positions. Nothing to do, they kept on telling that they did not disable the trading on the pair, but that I couldn't close the positions due to 'low liquidity' on the pair. Of course we are talking of a 'market maker' account, not an ECN one, so THEY are the counterpart of the trade. And according to them, it's the 'low liquidity' too that prevents me to change the StopLoss or TakeProfit of trades. And MT4 returns a 'TRADING DISABLED' message ... Anyway, nothing to do.

Only solution seemed to let THEM close the positions. They tried to make me accept to cancel all the trades too. So, there was 2 possibilities according to them: Close all the positions at market price, or close the positions that were attempted to be closed, and couldn't due to the 'low liquidity' problem, at the attempted close price. Seems not bad ... (I asked by chat and email a lot of times for them to confirm which trades that would be and at which prices, they never answered. Or they answered I would get an email with the information, which I never got)

One friday afternoon, to resolve this issue, I accepted by chat to close *ALL* (I always asked for *ALL* positions of my account to be closed at once so that USD/LTL and EUR/USD trades which hedge each other are closed at the same time) positions as the cross beetween the 2 pairs was favorable to me. Seems that in fact it was too favorable to me, as they waited, waited, and didn't close the positions when I asked. I asked again, kept on asking, and one hour later, still nothing was done. When price was far less favorable for me, I wanted to cancel the close of the trades, as they did nothing for more than 1 hour !!! And they kept on saying that they would close the trades at the close of the market, at the last available price. I refused and refused as it would be the absolute worst prices for me, with the highest spreads, but they didn't seem to take in consideration my request and said they would do it, and that I had no choice ... Nice !

Anyway, probably the conditions weren't bad enough (was really better than usual for a WE close), as they finally didn't do it ;)

Next week, I emailed them again to try to solve the issue. I tried to tell them that I would at least like to have the trades closed WHEN I ask it if I can't close them myself when I want and at the price I want because they disabled trading on the pair (which is already unacceptable). I finally agreed to already close trades that were attempted to be closed by my EA at the price of the attempt, which was in my favor. I checked my logs, and there were 2 trades with a close try at better prices than actual market price on USD/LTL, so why not start bu this ? *BUT* what they did, is that they closed one of this 2 trades at a WORSE price than the attempted close price and ANOTHER trade (not the good one) which wasn't attempted to be closed at a SILLY price which instantly gave a very huge loss !!! In fact they took the trade with the BIGGEST running loss and closed it at price far above actual market price.

When I emailed them with my logs and explained they made a mistake, they didn't want to hear anything. I politetly asked for them to cancel this operation then, as it didn't match what was attempted to be done and they never were able to reply to all my request to at least let me know what they would do, and close everything at market price. They refused and if I wasn't 100% sure until then, became obvious that they did what they did on purpose.

At this point, I wanted to try to withdraw what I could from my account, so asked them to close *ALL* account transactions, even if they would chosse the worst moment, as I had no choice ... And what they did finally is that they waited during a big market move (during ECB press conference) and only closed the USD/LTL trades, not the EUR/USD ones, so I had 9 lots of EUR/USD trades open ALONE in a directional bet. They just closed at the right moment so that even I was monitoring my account, I got another HUGE loss in a few seconds.

Tried to do my best to get out of the situation, gained again some of the lost money and got everything closed.

I then went on their website to do a withdrawal of what was remaining after all this and their 'AUTOMATIC WITHDRAWAL' that they adverstise everywere seems to stop to be automatic when you try to withdraw more than you deposited ... So didn't get my withdrawal.

That's all the story (quite long, but tried to keep it the shorter I could). Don't get fooled by EXNESS good conditions, EXNESS is a *SCAM* !!!!! I had a stable 3000 MBB (a metal currency account) equity on my account, and growing with swap earned each day, which was approx 4100 EUROS. I now will try to advertise this story everywhere I can to warn other traders of EXNESS behaviour, and try to get this back by filling a complain with FDR. Hopefully it was only profits, I withdraw deposited money before, but that was months and months of hard work ;(

I have all chats / emails / logs / account statements / screen captures to prove everything.

Funny note: Not sure what it exactly means said like this, but article 3.2.a of EXNESS client agreement states that: 'The Client is obliged to realize his right to open/close position in the terminal of the Company'.

Paste this on ForexPeaceArmy website too pls! cheers

First, I am very happy with this broker, but right now that says Mevo ............ But most make me GROUCHY is their server ..... it's been almost 2 weeks ....... The most severe .... Today only in the 2 hours I try to access, there are more than 10 X disconnect on my MT4 .........
Although they are very fast WD .................
Better to just leave them ...............

I've never been with exness, from the review here I was interested to try this broker (at first), but then I read the experience from Mevo and then try to look for exness website.

Well, first of all, that's what Market Maker do (even when you try to use ECN, we never know the truth how they works), and secondly, they accepting Liberty Reserve, this would make the broker itself less credible. Even when exness have 'Preventing Money Laundering' page on their website, that page become useless as there's no actual verification on Liberty Reserve user from LR itself (different from PayPal or Moneybookers aka Skrill), user can create as many LR accounts as they want which means even the FX account under one person name, the source of its money can be from anonymous person.

And the last one, deposit bonuses, rebates, tight spreads, with those benefits how can a broker can get a profit if doesn't from the client funds? We should remember that brokers are living from SPREADS.

That's my opinion and no offense for all. Peace.

DailyFxPips: 'Best conditions': TRUE ! But they will SCAM you if you win too much ... They even have TOO GOOD TO BE TRUE conditions !

'Withdrawal works automatically': TRUE! At least when you withdraw LESS than you deposited ... After this, it's up to them.

Just check on the previous page for full story.

I traded with them about a year and everything is convenient for me

best conditions with tightest spread , Withdrawal to LR works automatically, that's really Greatl!

Web-site: https://www.exness.co.in

I would say that Exness has the best conditions you could dream of: Incredible spreads that are as good as best ECNs like LMAX or DUKASCOPY without any fee, and amazing swap rates (Maybe the best you can find). And you can have 30% rebates on top of this (I was with BestForexCashback, which had always been great). I told myself a few times that it was too good to be true, and unfortunately I was right, but at the same time, I was stupid too (won't change anytime soon I guess) and continued trading anyway as everything was fine for approx 6 months.

Then, as I was making too much profit I guess, happened what obiously would happen: I got SCAMED !

One part of my trading was arbitraging EURO against LITUANIAN LITAS by selling EUR/USD and selling USD/LTL, as the exchange rate is quite fixed. Was making profit, and earning good swap on USD/LTL shorts during the time I was keeping the positions open.

What EXNESS did is that they simply *DISABLED* trading on the USD/LTL pair, so I got stuck with more than 9 lots on USD/LTL shorts, and couldn't do anything anymore: Impossible to close any order, open new ones, change TP or SL. Of course, they did this without any notice. I emailed, chatted, and did whatever I could to make them let me manage and close my positions. Nothing to do, they kept on telling that they did not disable the trading on the pair, but that I couldn't close the positions due to 'low liquidity' on the pair. Of course we are talking of a 'market maker' account, not an ECN one, so THEY are the counterpart of the trade. And according to them, it's the 'low liquidity' too that prevents me to change the StopLoss or TakeProfit of trades. And MT4 returns a 'TRADING DISABLED' message ... Anyway, nothing to do.

Only solution seemed to let THEM close the positions. They tried to make me accept to cancel all the trades too. So, there was 2 possibilities according to them: Close all the positions at market price, or close the positions that were attempted to be closed, and couldn't due to the 'low liquidity' problem, at the attempted close price. Seems not bad ... (I asked by chat and email a lot of times for them to confirm which trades that would be and at which prices, they never answered. Or they answered I would get an email with the information, which I never got)

One friday afternoon, to resolve this issue, I accepted by chat to close *ALL* (I always asked for *ALL* positions of my account to be closed at once so that USD/LTL and EUR/USD trades which hedge each other are closed at the same time) positions as the cross beetween the 2 pairs was favorable to me. Seems that in fact it was too favorable to me, as they waited, waited, and didn't close the positions when I asked. I asked again, kept on asking, and one hour later, still nothing was done. When price was far less favorable for me, I wanted to cancel the close of the trades, as they did nothing for more than 1 hour !!! And they kept on saying that they would close the trades at the close of the market, at the last available price. I refused and refused as it would be the absolute worst prices for me, with the highest spreads, but they didn't seem to take in consideration my request and said they would do it, and that I had no choice ... Nice !

Anyway, probably the conditions weren't bad enough (was really better than usual for a WE close), as they finally didn't do it ;)

Next week, I emailed them again to try to solve the issue. I tried to tell them that I would at least like to have the trades closed WHEN I ask it if I can't close them myself when I want and at the price I want because they disabled trading on the pair (which is already unacceptable). I finally agreed to already close trades that were attempted to be closed by my EA at the price of the attempt, which was in my favor. I checked my logs, and there were 2 trades with a close try at better prices than actual market price on USD/LTL, so why not start bu this ? *BUT* what they did, is that they closed one of this 2 trades at a WORSE price than the attempted close price and ANOTHER trade (not the good one) which wasn't attempted to be closed at a SILLY price which instantly gave a very huge loss !!! In fact they took the trade with the BIGGEST running loss and closed it at price far above actual market price.

When I emailed them with my logs and explained they made a mistake, they didn't want to hear anything. I politetly asked for them to cancel this operation then, as it didn't match what was attempted to be done and they never were able to reply to all my request to at least let me know what they would do, and close everything at market price. They refused and if I wasn't 100% sure until then, became obvious that they did what they did on purpose.

At this point, I wanted to try to withdraw what I could from my account, so asked them to close *ALL* account transactions, even if they would chosse the worst moment, as I had no choice ... And what they did finally is that they waited during a big market move (during ECB press conference) and only closed the USD/LTL trades, not the EUR/USD ones, so I had 9 lots of EUR/USD trades open ALONE in a directional bet. They just closed at the right moment so that even I was monitoring my account, I got another HUGE loss in a few seconds.

Tried to do my best to get out of the situation, gained again some of the lost money and got everything closed.

I then went on their website to do a withdrawal of what was remaining after all this and their 'AUTOMATIC WITHDRAWAL' that they adverstise everywere seems to stop to be automatic when you try to withdraw more than you deposited ... So didn't get my withdrawal.

That's all the story (quite long, but tried to keep it the shorter I could). Don't get fooled by EXNESS good conditions, EXNESS is a *SCAM* !!!!! I had a stable 3000 MBB (a metal currency account) equity on my account, and growing with swap earned each day, which was approx 4100 EUROS. I now will try to advertise this story everywhere I can to warn other traders of EXNESS behaviour, and try to get this back by filling a complain with FDR. Hopefully it was only profits, I withdraw deposited money before, but that was months and months of hard work ;(

I have all chats / emails / logs / account statements / screen captures to prove everything.

Funny note: Not sure what it exactly means said like this, but article 3.2.a of EXNESS client agreement states that: 'The Client is obliged to realize his right to open/close position in the terminal of the Company'.

lapor gan, wd receh $10 via LR langsung masuk, Exness ok :)

requotes reguotes requotes requotes..did I mention all the requotes? spreads in Asia session horrible...and much much more..Avoid if you can!

Not bad. Nothing fantastic, but acceptable for trading

Nyoba WD recehan habis sahur, ternyata masuk secara kilat juga, Exness ok :)

I have traded with them in the Past and there withdrawal is very fast!!!!!!

Hari ini WD Receh $2 ke LR, wuzz langsung masuk dalam 1 deti, Exness ok :)