I would like to share my experience concerning Exness broker and tell anyone why avoid it. I divided my opinion into three
parts: trading conditions, setting up the account and brokers origin plus inconvenient questions.
1) Trading conditions in Exness are poor. They have only one non Market Maker (Dealing desk?) account called ECN. On this
account they offer 3 to 4 times lower volume than their competitors (or even their liquidity provider that is LMAX). One can
clearly see lack of the liquidity by taking a look at Exness 1 minute currency charts, which are full of the opening gaps.
For the other types of Exness accounts (which are MM) there are no guarantees that the client's transaction even leave
Exness. Provisions and spreads int this broker are just average. The only thing that looks really good at this broker is the
guarantee that potential negative balance on the clients' accounts would be zeroed (like in case after catastrophic SNB
decision) - what actually made me interested in this broker. The rest is medicore especially from the scalper point of view.
2) I setup web page account really swiftly and send them copies of my ID documents as confirmation. I send them copy of my ID
document (I made it for purpose of opening an account in other broker) and was waiting two days for reply. Finally, I decided
to talk on the chat with their support and ask about the authorization. They told me that they never send the answer on
emails and it is only available through: logging into personal area -> then pressing on the link with my name -> then picking
Settings -> then moving mouse over label 'Rejected' and small popup shows up with the information why it was rejected. Really
handy ;). Anyway the first document was rejected - it was to high quality and was concerned as a scan (and only photos are
allowed). So I made a photo of the document and send them - the small popup kept continue to show me the old message so I
contacted the support and they told me that my second document was rejected because it was to low quality (even though it was
readable and they told me this should be enough). I asked them what should I do next - I do not have other camera. So they
suggested me to use other person's camera what clearly seems to be putting clients' identification documents in danger of
falling into wrong hands (even deleted photo from other's person camera can still be restored and misused). Eventually I
wasted a week trying to authorize myself and getting any information from the support.
Most commonly brokers ask you to send them scans or certified photocopies of ID documents, but Exness just does not allow it.
So you are forced to buy a better camera (it looks that smartphones are not good enough) or risk that your ID documents will
leak out. I do not want even think how easily one can trick this company sending them photoshoped documents.
This is not how companies dealing with money should work.
3) Exness is Russian - that what they say. I wanted to know what does it mean that they are Russian company, in case tensions
between Russia and the West increases, and how they would be affected in case of potential war on Ukraine (e.g. new sanctions
introduced against Russia). When I asked these questions the support started to be aggravated, impolite and was trying to
avoid answers. But I kept digging and so they told me that there is no danger whatsoever because company is Russian, but
registered on Cyprus. When I tried to learn why do they call Cyprus company 'Russian' (it is registered on Cyprus so it is
Cyprus company) they firstly rejected to answer this question and finally they told me it is because a lot of Russians are
working there. It is just unbelievable.
It looks like they try to hide some inconvenient information probably about relation between Exness Cyprus and some other
companies (from Russia). Most likely Exness Cyprus is just a branch of some mysterious Russian companies and no one can
guarantee anything (especially safety of client's funds) in case conflict between Russia and the West intensifies.
As for me Exness is not transparent enough (as Forex broker should be).
I feel like I wasted a lot of time trying to set up the account in Exness (and got stuck because I do not plan to buy a new
camera), pulling some information from their support, making useless photos and trying to figure out and follow their weird
procedures. Anyway, hope that my experience will help others.
In overall I do not recommend Exness and do not plan deal with this company in the future.