When we talk about forex regulation in relation to brokers, we refer to whether they are registered and duly regulated by an important financial regulatory body either in their country of origin or in the country where they have their base of operations. Generally, these entities have strict requirements to accept any company that provides any type of financial service, be it a bank or in this case a broker, especially in the United States and Europe.
In this way, they seek to ensure the legality of its operations and that the money of its customers is insured. For example, in the United States it is required that any of these companies have a certain level of liquidity so that it can cover its operations, that is, so that it has to pay and continue to function under any circumstance.
That does not mean that an unregulated broker is necessarily synonymous with scam brokers and that we are going to lose our money, but the reality is that by opening an account and depositing money with a company that does not have any regulation we are risking losing our hard-worked-for money.
If, on the other hand, we open an account with a properly regulated broker, we can at least make sure to deposit our money and trust in a company that meets certain standards. Likewise, in case of any problem, there is a possibility, even if it is remote, to present our complaint.
But, in the case of an unregulated broker that operates thousands of kilometres from the country where we live, there is no way to solve a problem of this type. Our only choice is to rely on the goodwill -if there is one- of the broker’s staff.
Exness is an international broker, specialized in providing commercial internet services. The group of companies of Exness is based in 2008, professionals, merchants and IT professionals.
Exness regulations (licenses)
The company of Exness Limited is registered in an offshore jurisdiction in San Vicente and Grenadine. The group of companies also includes the Exness (Cy) Ltd broker, registered in Cyprus and carrying out its activities under the CySEC license number 178/12, as well as in compliance with the European MiFID Directive. Besides, Exness just register Exness Europe which is under FCA license.
Clients’ money is under the protection of the ICF (cyprus) and FCA compensation fund and is stored in the segregation account at the following banks: Barclays, DBS, Balticums and OCBC Bank. So, in bad case as Exness was bankrupted, you money is still safe in segregated accounts.
In addition, in September 2016, a new office was opened in London, and the company of Exness Europe Limited has received the license of one of the most reliable regulators in the world of the FCA, under the number of 730729.
Besides that, the Exnessbroker has many licenses and offices from the controls in the following countries: Netherlands (AFM), Germany (Bafin have discussed), Spain (CNMV), Italy (CONSOB), Poland (KNF), Sweden (FI), etc.
According to the official website of Exness total trade volume of the company in 2017 was of more than 3.2 trillion Dollars, and the average monthly income of sales was more than 267 billion Dollars.
The Exness broker technical support is done in 15 languages, including Russian, in 24/5 mode, and in English – 24/7. In addition, the company Exness has the following commercial conditions and advantages:
- Exness spreads of 0.1 points in classic accounts and 0 to ECN-accounts.
- Unlimited leverage from 1: 2 to 1: 2000 and higher.
- Execution of operations of 0.1 seconds (without absolute landslides and requotes).
- Lack of minimum deposit requirements.
- The presence of hundreds of accounts.
- You can use more than 80 options as the currency of the trading account.
- The trade is done on the MT4 and MT5 platform.
- Mobile commerce and commerce are supported through WebTerminal.
- The provision of access to inter-bank liquidity.
- Trading of counselors and speculation is allowed.
- To Exness clients, they offer access to a technical analysis indicator of Central Trading,
- Snapshot of the exit of funds.
- More than 30 methods of deposit and withdrawal of funds without commission.
Besides, Exness group provides the following services:
- Forex trading (more than 130 currency pairs and CFDs contracts);
- A VPS is a server, daily analytics; regular contests and promotions; specialized technical support; the exclusive affiliate program.
Therefore, the Exness forex broker is a good company for Forex trading. The traders here will find an opportunity for quick learning with the help of the demo accounts, but also through minimum deposit and the freedom of leverage (just be careful).
For the professional traders, there is everything you need for monetary negotiation: high-speed order execution spreads, the wide variety of commercial tools, the presence of the ECN accounts, and the possibility of using the directors and the entirety of business strategies.
In addition to the above, you can attribute an outflow of funds with no hidden costs. The only drawback of this broker is the absence of one of the PAMM accounts and other services for investment. Exness has been created exclusively for merchants.
It is one of the few brokers that offers such high leverage, which does not make it advisable for beginners. You could benefit if you know how to communicate well in English, although this is not so necessary thanks to its support in Spanish.
The documentation process is quite long and a bit tedious. But if this does not matter to you, it is a very good broker with very small commissions and a good platform. The trading conditions offered are very good if you have the experience.
As beginners and experienced operators in the Forex market and other financial markets know, a vital part of this business is the brokers. These companies function as intermediaries that place our money in the market and allow us to operate in it.
With the business of the financial markets being so big, the offer of brokers has multiplied almost exponentially in recent years and some brokers have emerged which all they have done is swindling people or not offering the most suitable operating conditions.