How to Avoid the Exness Forex Scam

forex exness scam

It is extremely easy to open an account with the forex trading platform Exness. The registration process takes just 5-6 minutes and requires you to fill up a simple form. You will need to provide your full name, email address, and phone number. Once you fill out the form, the platform will create your account in your name and send you an account number. You will then need to create a strong password for your account to protect it from fraudsters.

Exness offers a huge range of forex products. For example, it offers spot contracts on Brent and WTI oil, 14 crypto cross products, and CFDs on the Nikkei and FTSE 100 indexes. However, its services do involve complex derivative products that come with a high level of risk. They are not suitable for everyone. You should always check the risk profile of your broker before trading with them.

Another factor to consider is the fees. Many brokers will charge fees for inactive accounts. This could seriously affect your profits. Luckily, Exness does not charge fees for inactive accounts. If you want to withdraw your profits, you must use a bank account. Otherwise, you may lose your money. However, you should be aware that the withdrawal process may take up to 5 days. You should also consider the minimum deposit amount. This is generally lower than what you need to deposit with other brokers, so you can get started without a huge investment.

Exness offers five account types. The Standard Account has a low minimum deposit and higher trading costs than industry averages. There is also a lot of leverage on some Forex pairs, which increases the risk of losing your account. The Pro Account, on the other hand, requires a minimum deposit of 500 USD and offers tighter spreads. The Zero Account is another good option for traders looking for a low minimum deposit.

Exness has moved its retail operations to the Seychelles, but it still welcomes traders from different countries to sign up. It offers ECN accounts with low commissions and more than 80 currency pairs. If you are looking to trade more than one currency pair, you can open an ECN account and take advantage of its free VPS service.

Exness also offers customer support 24 hours a day. While their live chat option does not function at the moment, you can contact their support team via email or through a web form. Furthermore, the home page of the website is secured with HTTPS protocol, making online transactions extremely secure. It is also a member of the Investor Compensation Fund.

When it comes to signing up for an account with Exness, the sign-up process is relatively easy. You will need to select your payment method, account type, and currency, and then enter your account number and amount. Once you’re done, you’re all set to start trading with Exness.

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