Exness Review for UAE Traders in 2024
Overall Score:
Exness
87/100
This is our professional review of the online trading broker, Exness for traders and investors in the UAE. This Exness review takes a rapidly growing broker in the United Arab Emirates, comparing them with other competitors in the region. We look at specific aspects like Exness’ platforms, regulations and features, and how these points can benefit traders in the UAE.
Written by:
Sam Reid
Sam Reid
Fact checked by:
Freddie Ricks
Freddie Ricks
Last updated:
Dec 2024
Dec 2024
Exness Summary
Exness is a world-leading broker and also one of the largest brokers out there, with a monthly trading volume of over $3 trillion and 500,000+ active clients. Exness offers trading on forex along with CFDs on stocks, indices, cryptocurrencies and commodities at competitive prices. The award-winning broker also has account types to suit both beginner and advanced traders on the MetaTrader terminals and their own proprietary trading platform.
Overall, we recommended Exness for traders that already have some trading knowledge, as this broker does not have a great amount of educational resources that novice traders require. We also rate Exness well on safely with a long list of regulatory oversight. However this list does not include any local UAE regulation as of yet. Let's dive in to our Exness broker review in more detail.
Overall, we recommended Exness for traders that already have some trading knowledge, as this broker does not have a great amount of educational resources that novice traders require. We also rate Exness well on safely with a long list of regulatory oversight. However this list does not include any local UAE regulation as of yet. Let's dive in to our Exness broker review in more detail.
Exness Trading Instruments
Exness mainly offers forex and CFD products, and clients in the UAE can trade the following asset classes.
While Exness hits most of the bases in terms of its product offering, this broker's list of trading instruments isn't as extensive as other brokers reviewed on this site. For example, Exness doesn’t offer ETFs or soft commodities, and its stock offering is limited mainly to US and China-listed companies.
- 100+ forex pairs
- 80+ global stocks
- 6 commodities including metals and energies
- 27 crypto pairs
- 10 indices
While Exness hits most of the bases in terms of its product offering, this broker's list of trading instruments isn't as extensive as other brokers reviewed on this site. For example, Exness doesn’t offer ETFs or soft commodities, and its stock offering is limited mainly to US and China-listed companies.
Exness Commissions, Spreads and Fees
Trading Fees
In this section of our Exness broker review for UAE traders, we take a look at Exness' fees. Exness offers fairly competitive variable spreads and commission. But as always, the costs you incur trading with Exness will depend on your account type and the instruments you trade.
On the Standard and Standard Cent Accounts, spreads start from 0.3 pips, with no commissions on all trading volumes. The main difference between the two being that the Standard Cent account is designed for new traders, offering micro lots but fewer trading options.
Looking at Exness’ professional accounts, the Raw Spread Account comes with spreads from 0.0 pips with commission of up to $3.50 each side per lot, while the Zero Account also offers spreads from 0.0 pips, but a lighter commission structure from $0.2 each side per lot. Finally, the Pro Account comes in at the most competitive for UAE traders, with spreads from 0.1 pips and 0% commission.
Let’s take a look at Exness’ spreads on some of the most popular currency pairs in the table below.
In this section of our Exness broker review for UAE traders, we take a look at Exness' fees. Exness offers fairly competitive variable spreads and commission. But as always, the costs you incur trading with Exness will depend on your account type and the instruments you trade.
On the Standard and Standard Cent Accounts, spreads start from 0.3 pips, with no commissions on all trading volumes. The main difference between the two being that the Standard Cent account is designed for new traders, offering micro lots but fewer trading options.
Looking at Exness’ professional accounts, the Raw Spread Account comes with spreads from 0.0 pips with commission of up to $3.50 each side per lot, while the Zero Account also offers spreads from 0.0 pips, but a lighter commission structure from $0.2 each side per lot. Finally, the Pro Account comes in at the most competitive for UAE traders, with spreads from 0.1 pips and 0% commission.
Let’s take a look at Exness’ spreads on some of the most popular currency pairs in the table below.
Swap Fees
Some asset classes offered by Exness are swap-free by default, such as crypto and stocks. Other asset classes however do incur these rollover costs when holding positions overnight.
With that said, Exness does offer Swap-Free accounts for traders looking to trade in line with Islamic principles. Exness also states on its website that no extra costs will be incurred by traders if they opt for this account type.
Non-Trading Fees
A big plus for Exness traders in the UAE is their free deposits and withdrawals. This broker also does not charge any inactivity fee. However MT4 accounts will be disabled if left inactive for 180 days, and MT5 accounts will be removed after just 21 days of inactivity.
Some asset classes offered by Exness are swap-free by default, such as crypto and stocks. Other asset classes however do incur these rollover costs when holding positions overnight.
With that said, Exness does offer Swap-Free accounts for traders looking to trade in line with Islamic principles. Exness also states on its website that no extra costs will be incurred by traders if they opt for this account type.
Non-Trading Fees
A big plus for Exness traders in the UAE is their free deposits and withdrawals. This broker also does not charge any inactivity fee. However MT4 accounts will be disabled if left inactive for 180 days, and MT5 accounts will be removed after just 21 days of inactivity.
Exness Deposits & Withdrawals
UAE traders will face zero cost when depositing and withdrawing funds with Exness. They also offer a wide selection of payment methods, including bank card and popular crypto wallets and eWallets including Neteller, Skrill and Perfect Money. Minimum deposit amounts range from $10 with a bank card up to $50 with Bitcoin. For withdrawals, the minimum amount ranges from $1 with SticPay to $100 if UAE traders opt to withdraw via USD Coin (USDC ERC20).
Exness Trading Platforms
When it comes to trading platforms, Exness has its own proprietary Terminal which combines with TradingView giving UAE traders a solid range of analytical tools and order types. The Exness terminal is an HTML 5 web app developed in-house by Exness’ own programmers and designers, making it a reliable, fast, and user-friendly web platform.
Exness also offers MetaTrader 4 and Metatrader 5. Out of these, MT4 is by far the most popular choice for Exness traders due to their competitive forex spreads.
Exness also offers an in-house developed trading app, offering over 200 instruments across forex, crypto, indices, stocks and energies. This line up of platforms gives traders in the United Arab Emirates lots of choice to accommodate all trading preferences.
Exness also offers MetaTrader 4 and Metatrader 5. Out of these, MT4 is by far the most popular choice for Exness traders due to their competitive forex spreads.
Exness also offers an in-house developed trading app, offering over 200 instruments across forex, crypto, indices, stocks and energies. This line up of platforms gives traders in the United Arab Emirates lots of choice to accommodate all trading preferences.
Exness Account Types
When it comes to professional accounts at Exness, UAE clients can choose from 3 different accounts, including the Raw Spread Account, Zero Account, and the Pro Account. Here is a summary of these accounts and the main differences between each one.
Exness Research & Education
Exness has a simple yet comprehensive educational website which is separate from its main website. Educational resources are offered to Exness clients in the form of educational resources (beginner and intermediate), articles (explaining key trading concepts), and videos.
Educational resources at Exness are not the most developed, meaning that beginner UAE clients that choose to trade with this broker will need to look for educational materials elsewhere.
Educational resources at Exness are not the most developed, meaning that beginner UAE clients that choose to trade with this broker will need to look for educational materials elsewhere.
Exness Regulation
Exness is made up of several entities which are licensed by well-known regulatory bodies such as CySEC of Cyprus, FSA of Seychelles, FSCA of South Africa, and FCA of the UK. Despite its global regulations, one disadvantage for Exness clients in Dubai and the UAE is that Exness is not regulated by any regulatory body in the United Arab Emirates.
Exness Customer Support
Overall, Exness ranks well when it comes to customer support. The broker offers 24/5 assistance in 14 languages. UAE clients will even find 24/7 support in English, Thai, and Chinese.
Exness offers live chat via the website, which is a convenient method for non-urgent matters. Clients can usually expect a reply back within the day. Exness also provides phone support for more urgent matters.
Exness offers live chat via the website, which is a convenient method for non-urgent matters. Clients can usually expect a reply back within the day. Exness also provides phone support for more urgent matters.
- Helpline Telephone Number – +35725245730
- Email Address – support@exness.com
- Headquarters Address – Siafi Street, Portobello, Office 401, 3042, Limassol, Cyprus
Exness FAQs
With a good trading strategy, it is possible to become of the thousands of profitable Exness traders. However you should also be aware that trading comes with risk, and there is always the chance that your trades can move against you.
Yes, Exness is completely legal in the UAE
Yes, Exness is rated as a highly safe and secure broker as the broker is regulated by several top tier regulators.
Exness: The Bottom Line
Highlights for Exness include its low forex spreads, unlimited leverage offering on certain instruments, and 24/7 english customer support. Exness is one of the world’s biggest brokers by trading volume and active client base, and certainly becoming more popular in the UAE.
At the same time, Exness doesn't yet have a local UAE license which may be off-putting to some. Their product offering also isn't as extensive as other brokers in the region. This is good for traders just looking for the basics, however more advanced traders looking for asset classes like ETFs and local MENA stocks will not find this with Exness.
To conclude this Exness broker review, we would recommend Exness for intermediate traders looking for reliability and a strong global presence, offering high leverage and highly competitive trading conditions.
At the same time, Exness doesn't yet have a local UAE license which may be off-putting to some. Their product offering also isn't as extensive as other brokers in the region. This is good for traders just looking for the basics, however more advanced traders looking for asset classes like ETFs and local MENA stocks will not find this with Exness.
To conclude this Exness broker review, we would recommend Exness for intermediate traders looking for reliability and a strong global presence, offering high leverage and highly competitive trading conditions.
