EXNESS
EXNESS
Overall
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.
Overall
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.
Overall
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: http://www.exness.co.in
Overall
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".
Overall
lapor gan, wd receh $10 via LR langsung masuk, Exness ok :)
Overall
requotes reguotes requotes requotes..did I mention all the requotes? spreads in Asia session horrible...and much much more..Avoid if you can!
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Not bad. Nothing fantastic, but acceptable for trading
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Nyoba WD recehan habis sahur, ternyata masuk secara kilat juga, Exness ok :)
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I have traded with them in the Past and there withdrawal is very fast!!!!!!
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Hari ini WD Receh $2 ke LR, wuzz langsung masuk dalam 1 deti, Exness ok :)
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What is the value of the spreads during the news and at night?
Overall
Exness becomes ECN broker. Spreads become tighter then earlier. With exness ecn I can put limit orders withing spreads, see the market depth and choose best prices. It's truly great! Now I love trade with them more then ever!
Overall
i am really like them , with tightest spread and good time of execution :)
actually their platform some times adding a little bit of gaps 😝
but at all , they are excellent.
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Sometime in Sep/Oct last year, Exness experienced DDOS attack... then today March 6, 2012 their server went kaput for 6-7 hours...all around the world affected but since i have accs with other brokers, I observed that only exness was affected by this server down.
I have closed and withdrawn all my accs with exness n hunting for somemore alternative brokers.
You can check out my Calmly trading system which has shown good progress until 6mac12 today...i'm over with this bro-ker
Overall
Hello Hafizesh,
when a broker has dynamic spreads so they will offer you very tight spreads they will be different from one second to another. because the broker sends your order to the market where it will be buyed.
There are brokers outside with fixed spreads but they will be mostly higher than the variable spreads.
So EXNESS is a broker with variable and tight spreads.
If you have a functionating strategy so test it on an demosystem at exness. Every Broker will be different!
Overall
thanks for the comments.
I have one question. I am going to use them as a broker for an VPS solution provided by 4Xsolutions. It is a trade copier and was wondering if anybod has used them for something like this. I would want my trades to execute as soon as the master executes them. Also, any opinions on their spreads.. they say they are dynamic but dont understand what they mean by that..
any input is appreciated..
thank you
Overall
Only when you see alternatives you can say who is the best. I traded with different brokers and stopped with Exness - its my choice, my conditions for trade)
Overall
the conditions they offer are really better than other brokers have. so I fully satisfied for now with my broker. especially spreads and bonuses system I like:)
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Exness is my broker and advice is as a successful one to all of you!
I trade with them and feel confident about my future. that's really nice
Overall
Today the spread is radicals, 3 - 12 pips on EU wow BAD time to trade....
And Broker is making money triggering Everybody SL.....
:(
