Exness Review Singapore
Who is Exness Broker?
Exness is a well-known Forex broker that started in 2008 in St. Petersburg, Russia. Its headquarters are now in Limassol, Cyprus, and its Asia branch is in Singapore. Exness Singapore is a unique brokerage firm that has been around for over ten years, and the broker has a good reputation in the country. Since its start, the platform has steadily grown. Today, it has more than 145,000 active traders worldwide. Also, it gives people access to more than 120 instruments that can be traded, such as Forex, Metals, and Cryptocurrencies.
More about Exness Broker Singapore
Is Forex trading with Exness legal in Singapore?
Yes, trading Forex with Exness is legal in Singapore. With a focus on international trade, it makes sense that the people who live in the country would be interested in forex trading. Some of Singapore’s neighbors make it hard to get foreign currency in and out of their countries, but the Singapore government and the MAS have been very open to forex trading within Singapore.
The main goal of the MAS is to protect clients from fraud, corruption, and bad business practices. Because of this, they are trading foreign exchange, which has become more common in Singapore over the past 20 years. Exness is an excellent choice for Forex trading in Singapore.
Why do business with Exness in Singapore?
Residents of Singapore like to trade Forex, but you need a reputable online broker to do so. For success in the international currency markets, you must trade with a forex broker you can trust. As a trader or investor in contracts for difference (CFD) or foreign exchange (FX), you may have specific needs about your trading platform, trading tools, or research. Knowing more about investing can help you decide which forex broker will be best for you. The (MAS) or Monetary Authority of Singapore, the country’s financial regulatory body, must approve a forex broker before it can take on forex and CFD traders as clients. Exness is one of these brokers.
With Exness, you can trade on various assets to gain a feel for the international markets, such as Forex and CFDs on stocks, indices, metals, energy, cryptocurrencies, and indexes. You can get low or no trade commissions or zero spreads depending on your account type.
Exness offers support in multiple languages and lives chat around the clock if you need help.
Is Exness Singapore legal?
Yes, Exness is a legit broker in Singapore. It has a solid reputation in online trading because it has been operating in many countries for a long time. The broker offers financial services in Singapore and other countries. So, as expected, the licenses that state authorities give Exness make its services safe and reliable.
Exness has been a well-known leader in the fintech industry in Singapore and Asia. In addition, it works with big names in finance from all over the world. Some of Exness’s most important partners are the Financial Conduct Authority (FCA) of the UK, the Financial Services Authority (FSA) of Seychelles, and (CySEC) the Cyprus Securities and Exchange Commission.
Is Exness a reliable forex broker in Singapore?
To protect its customers’ data, Exness processes transactions on both PC and mobile platforms using the Secure Sockets Layer (SSL) protocol. Also, to ensure that your details are safe when using Exness, look for the SSL security icon (a lock sign) shown in your web browser’s address bar. Exness Group, a securities dealer licensed and governed by the Seychelles Financial Services Authority (FSA) with license number SD025, trades under the name Nymstar Limited.
Exness Singapore Trading Platform and Features
Exness Singapore broker has a large set of tools to choose from. Let’s see the list of some of the services’ unique features and why they should be selected.
Meta Trader 4 is well-known worldwide. Its flexibility and toolbox help to overcome challenges. This makes the platform the best choice for many traders. Also, 23 analytical elements and 30 built-in indicators provide in-depth research and quick financial updates. Robot building in MT4 is now possible because of advancements in technology. It should be noted that all actions are carried out using a 128-bit keys encryption scheme, which ensures data security.
Meta Trader 5
MetaTrader 5 offers a wide range of functions to its clients. They become an excellent choice for traders when combined with performance and productivity. MT5, which allows users to operate directly from a terminal, includes economic calendars, forecasts, news events, object tools, and indicators.
Exness clients who like the MT5 and MT4 platforms can try out a new version of the environment dubbed “MetaTrader WebTerminal.” which lets users trade from a browser and examine up to 20 trading instruments for a specific account type. Also, pending and market orders can be created at the same time. Orders can be modified and closed with a single click as well.
The Exness Terminal is another comfortable environment only available to MT5 subscribers. It performs the same activities as Web Terminal but may also be accessed through a browser without installing it.
Exness Social Trading
Exness Social Trading allows newbies to examine established traders’ investment recommendations and algorithms and apply them to their projects. Social Trading is available on MT4 accounts for Forex, metals, cryptocurrencies, and other commodities.
Exness Singapore Tools and Features
Use the features of the Exness online trading platform to get around the markets and trade with ease, such as:
MetaTrader 4 and 5
MetaTrader is an online trading platform that many of the best Singaporean Forex traders use. It was made by a business called MetaQuotes. It has been very popular with traders in versions 4 and 5 (MetaTrader 4 and MetaTrader 5). MetaTrader 5 (MT5) is the most recent software version, but most people use MetaTrader 4 (MT4). Many Singaporean Forex traders learned how to trade with it. They like that its interface is fast, powerful, and easy to use. Users of MT4 in Singapore can also install trading scripts and robots to make their trades happen automatically.
Exness has an extensive training center with a library of trading materials for new and seasoned traders. Find daily market reports and learn new ways to trade with some of these tools: Tutorials, webinars, and live analysis, as well as videos and research papers.
A Virtual Private Server (VPS) is a remote terminal that lets you trade 24 hours a day and improves your connection’s quality and speed. With less latency and downtime, you can be sure that your trades go straight to the server.
With Exness’s Trader’s Calculator, you can estimate how much your trades will cost. This tool can help you determine the margin, pip value, swap long and short values, and the volume and low price of the position you want to open.
Expert Advisors (EA)
If you want your trading terminal to do things alone, you can install an Expert Advisor (EA) program on MT4 or MT5. Once you install the software, you can set up alerts, notifications, and even trading actions to happen when the market conditions are met.
Leverage offered by Exness Singapore
Exness deals with products that use leverage. Singaporean traders can buy more with their money using Exness broker leverage. It lets them bid on many items with a small amount of money. It is a ratio of the trader’s money to the borrowed money, such as 1:200, 1:2000, or 1:Unlimited.
The leverage depends on the amount of money in the account and other factors, such as the chosen trading terminal. No matter the type of leverage a trader chooses, they must meet the specific requirements and conditions.
The level of leverage is closely linked to the level of margin. When the amount of leverage goes up, the amount of margin needed goes down, and vice versa. This explains why the second one is always changing. Margin requirements are also affected by many other things, such as trading before weekends and holidays and different publications of important economic news. As a result, leverage changes automatically due to things that affect it.
Exness Singapore Account Types
Standard and Professional are the two main types of accounts you can get on Exness. A standard account is the most basic that any trader can use. It has subcategories called standard and standard cent. The most significant differences are the amount of leverage, the maximum and the minimum number of positions, and the amount of a pending orders.
More seasoned traders would instead choose a type of account called “professional,” which has categories like “Pro zero” and “raw spread.” They offer orders, different spread rates, and commissions that can be executed instantly.
With the Standard Account, you can start trading with as little as $1. A free demo account also gives you $10,000 virtual money to help you get better at trading in the forex and other markets. The spread on a standard account starts at 0.3, and the leverage is 1:Unlimited. One important thing about this type of account is that there are no commissions.
Professionals have to put down a minimum of $200. Spreads on Zero and Raw Spread start at 0.0, and Pro starts at 0.1 for 95% of the trading day. On MT4, leverage is unlimited, while on MT5, it is 1: 2000.
The Standard Account is the best choice for fast traders who make investment decisions in minutes or seconds. The account type that expedites transactions the fastest. Also, it’s an excellent choice for new traders.
A Cent Account is an excellent option for traders who wish to keep track of money up to a cent.
For professionals, the Pro Account is the best option. There are no fees for transactions and financial operations that happen right away.
A Raw Spread Account lets you check the most up-to-date asset prices and do financial transactions with liquidity providers.
The Zero Account is the best choice for saving money because commissions start at $3.5 and have zero spread.
How to open an account for an Exness account in Singapore?
Traders can use the demo account provided by Exness Singapore to learn about the risks and to determine how much they can profit from investments. It also lets clients get used to trading conditions, keep track of all the money they’ve put into trading, and handle all transactions related to the trading industry. Exness also sometimes gives traders a Deposit Exness Bonus, a nice perk.
Here’s how to sign up, step by step:
- Open an account. Go to the Exness homepage. Choose your country of residency, enter your email address, and create your preferred password under the “new account” button. To proceed, click ‘Continue.’
- Log in. Log in to your “Personal area,” and you’ll see that you already have two accounts: a demo and a real trading account (both for the MT5 trading terminal).
- Verify your information. To use all of your trading account’s features, you’ll need to prove who you are and where you live by uploading the necessary documents.
- Deposit funds. After you’ve set up your Exness account, you can deposit money and start trading.
Exness Singapore Deposit and Withdrawal
Exness Singapore Withdrawal
The ability to withdraw money right away is the most important feature of Exness broker. Having access to your money at any time is very helpful. The traders can request their fund withdrawal online, which is processed instantly from the Exness platform.
However, there are a few points that any investor needs to remember:
- The free margin shown in the Personal Area is the same as the amount of money that can be withdrawn.
- All financial transactions should go through the same payment method as the first deposit.
- Bank cards and cryptocurrencies come first on the list of ways to pay.
- Some banks’ clients charge fees to withdraw money, but the official site does not. Checking the bank’s transaction fees is essential to know how much you will get ahead of time.
Exness Singapore PROS and CONS
One of the best things about Exness Company is its easy setup. Registration takes a few minutes, and there are two ways to sign up for “Demo” and “Real” accounts. The first profile gives you full access to the terminal and $10,000 worth of virtual money you can use to trade. It lets you lower the amount of risk and mix in financial markets. Also, the “real” trading account set allows you to use real money and make instant, automated withdrawals.
Easy navigation is another benefit to mention. All the essential buttons on the Exness site are in the upper left corner. Because of them, users can use the “history” button to see what they have done recently, keep track of new and pending positions in a personal portfolio, and fill out a personal profile. The “buys” and “sells” parameters on the right side of the screen can also be utilized to determine the opposing side of a market situation. An upper tab makes it easy to know how the exchange rate has changed.
Exness’s financial markets offer a wide range of trading platforms, such as palladium, platinum, gold, silver, various cryptocurrencies, and forex broker excess trading.
The “instant withdrawal of funds” feature makes it possible to move money earned to a personal bank account in just a few minutes.
Most websites don’t have 24/7 customer service or manuals that explain how to use the site’s features. On the platform’s official website, you can find guides with detailed instructions and answers to questions people often ask about the platform. In addition, users can phone or chat with customer support if they have questions after creating an account.
Exness Customer Support
The main goal of Exness is to make trading easy for each user. Because of this, the service gives detailed manuals and different kinds of help 24/7. In addition, you can call, chat, and email to get in touch with a live customer service agent. Experts will answer questions instantly, making the website more accessible. Also, you can look at the Frequently Asked Questions (FAQ) section, which answers common questions about the site. Keywords are what make web search work.
Investing with Exness is a safe choice for Singaporean traders. This site is easy to use for both beginners and experts. It has an expanded toolkit and manuals to help people learn the basics of the business. Working with well-known companies worldwide, Exness has developed its platform options and business market. As a result, it became a place where every trader could meet their financial goals. It is also compatible with the popular MT4 and MT5 platforms, which makes trading safe and easy for both new and experienced Singaporean traders. Depending on your needs, you can open an account in several ways. There is a training account called a “demo account” that both new and experienced traders can use. Before you sign up with Exness in Singapore, compare it to other options on the market. This will help you figure out which trading platform is best for you.