Comprehensive Review dedicated to traders from SA
Accepts South African Clients
Who is Exness?
Exness is a popular broker in South Africa as it offers a wide range of forex pairs (including 9 pairs with ZAR) on which they charge very competitive fees. The company is regulated by the local financial regulator of South Africa – FSCA.
Main advantages of the broker
Financial Sector Conduct Authority, based in South Africa, license no 51024.
Financial Conduct Authority, based in the United Kingdom, license no 730729.
Cyprus Securities and Exchange Commission, based in Cyprus, license no 178/12.
Risk warning: Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital.
Please ensure you fully understand the risks involved.
Available Deposit & Withdrawal Methods
Exness supports the following deposits and withdrawal methods
Supported Platforms by Exness
Exness supports the following trading platforms
Trading platforms of the broker
South African traders can at Exness trade either on MT4 or MT5 trading platforms. MT4 is the industry standard in online trading while MT5 is its new modern successor. These two platforms support auto trading systems (Expert advisors) and can be used not only for executing traders but also for analysing the markets.
Both MT4 and MT5 can be accessed via the WebTrader which works in your web browser, that means no installations or downloads are necessary. MT4 as well as MT5 are also compatible with mobile devices as well as tablets.
MT5 is equiped in total with 38 inbuilt indicators, 22 analytical tools and 46 graphical objects and also supports hedging. MT4, on the other hand, offers 23 analytical objects and 30 built-in technical indicators.
Both MT4 and MT5 can be accessed via the WebTrader which works in your web browser, that means no installations or downloads are necessary.
In addition to this, Exness offers to traders Free VPS servers (available at a request to traders who in total deposit at least 500 USD). A great advantage of these remote terminals is that the execution time is superior to what you are used to with your own internet servers.
Exness VPS servers are located in the same data centre as the trading servers, which means that pinging a trading server is extremely fast (0,4 – 1,25 ms), so quotes arrive instantly and traders’ orders are sent to the server without delay.
In total, there are over 160 trading instruments available at Exness to traders from SA. These include:
- Forex – Exness has a very wide range of available FX pairs as there are 107 currency pairs. Apart from major and minor pairs, there are also exotic pairs. Among probably the most interesting forex pairs for SA traders are the ones in which you can find the South African Rand. As of now, there are 9 currency pairs with ZAR – AUD/ZAR, CHF/ZAR, DKK/ZAR, EUR/ZAR, GBP/ZAR, NZD/ZAR, TRY/ZAR, USD/ZAR, ZAR/JPY.
- Stocks– Exness provides acess to 30 stocks. Nearly all of these stocks are American, you can find here the most popular stock titles like Facebook, Apple or Netflix.
- Indices – Exness offers to its traders 10 indices, among these are American, European, Asian and Australian indices.
- Commodities – At Exness, you can trade 12 commodity pairs. These include, for instance, cruide oil, gold or silver. Gold as well as silver can be traded not only against the USD, but also against EUR and GBP.
- Cryptocurrencies – In this asset category, you will find at Exness the pair BTC/USD + 6 other cryptocurrency pairs.
South African traders can trade some of these instruments with up to 1:2000 leverage or even unlimited leverage.
Did you know?
That by December 2019 Exness clients’ monthly trading volume reached whopping 325.8 billion USD.
Account types and trading fees
Exness offers standard as well as professional accounts. Standard accounts are from the minimum deposit of 1 USD and the spreads start here from 0,3 pips. There are no trading commission fees for the standard accounts.
Exness professional accounts are designed for advanced traders who deposit at least 500 USD. There are in total 3 types of professional accounts:
1) Raw 2) Zero 3) Pro
The main differences between these pro accounts are in spreads and commission fees.
The raw account has the lowest spreads starting from 0.0 pips, this account has also a decent fixed commission fee of up to 3,5 USD lot/side. On the other hand, the zero account has a commission fee starting from 3,5 USD per lot/side and also spreads from 0,0 pips (Here, the broker advertises that you can get zero spreads for 95% of the trading day on 30 pairs). The last of pro accounts, the PRO has no commission fees and the charged spreads start from 0,1 pips.
South African traders that trade via MT4 can benefit from unlimited leverage, which means you can set as high leverage as you want. When trading on the MT5 platform, the maximum leverage is capped to 1:2000, which is more than sufficient.