Exness Singapore Review

Exness Singapore Introduction

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. In this Exness review in Singapore, we will learn more about the benefits, features, and more of what the broker can offer to its traders in Singapore.

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Exness Singapore Account Types

Standard account: This account type is perfect for beginners and those who prefer simplicity in trading. You don’t have to worry about commissions because this account type doesn’t have any. The minimum deposit for a standard account depends heavily on the payment system that you choose to use. This means that the amount you need to deposit to start trading could vary greatly based on your chosen payment method.
Standard Cent account: Designed for traders who are just starting out or those who wish to test their trading strategies. The only difference is that the deposit, profit, and loss are calculated in cents, which allows users to manage their risks better. The minimum deposit for this account type also depends on the payment system you choose to use.
Pro account: The Pro account is designed for experienced traders who need more advanced features for their trading activities. The minimum deposit for a Pro account is $200. This account provides lower spreads compared to the Standard account, and it also offers a commission-free trading experience.
Zero account: The Zero account is ideal for traders who prefer a commission-based trading model. The minimum deposit for this account is $200. This account offers tight spreads, starting from 0 pips, and has a commission of $0.05 per lot.
Raw Spread account: The Raw Spread account is a perfect choice for seasoned traders who are looking for ultra-low spreads. The minimum deposit for this account is $200. It offers spreads from 0 pips and charges a commission of $3.50 per lot. This account type is most suitable for high-volume traders and scalpers.

Before making a decision on which account type to choose, it’s important to carefully consider your trading style, experience, and risk tolerance. It’s also crucial to understand the fees and charges associated with each account type.

Exness Demo Account

The Exness Demo Account is a free trading practice account offered by the Exness brokerage firm. It is an excellent tool for new traders to familiarize themselves with trading platforms and strategies without risking real money. It mimics the real market environment allowing users to experience the dynamics of forex trading, test out technical indicators, and develop their trading skills. Moreover, experienced traders can also use the Exness demo account to test new strategies before applying them to their live accounts. It offers unlimited usage, real-time market prices, and instant execution. This demo account serves as a safe, risk-free platform for individuals to explore and understand the trading world better.

Exness Social Trading Accounts

Social Standard Account: For those who are new to social trading or are not ready to invest a significant amount of money right away, the Social Standard Account may be the best choice. The minimum deposit for this type of account is only $500. This is a reasonable amount for beginners and allows them to get a feel for social trading without a huge initial investment. In addition, the Social Standard Account comes with all the basic features necessary for a smooth trading experience.
Social Pro Account: For more experienced traders or those who are willing to invest a larger amount of money, the Social Pro Account is the better option. With a minimum deposit of $2000, this account type is designed for serious investors who are committed to making the most out of their social trading experiences. The Social Pro Account offers more advanced features and tools that can help traders maximize their profits.

Both types of accounts offer the opportunity to engage in social trading, which involves copying the trades of other successful traders. This can be a great way for beginners to learn the ropes and for experienced traders to diversify their strategies. With Exness Social Trading Accounts, traders can benefit from the knowledge and experience of others, while still maintaining full control over their own trading decisions.

Tradeable Assets with Exness Singapore

Exness Singapore is a forex and CFD trading platform that allows its users to trade in various asset classes. Here is an expanded explanation of each tradeable asset:

Forex: This refers to the foreign exchange market where all global currencies are traded. The forex market is the largest and most liquid market in the world. Traders can speculate on the movement of one currency against another.
Commodities: Commodity CFDs are contracts that mirror the performance of the underlying commodity. It allows traders to speculate on the price of commodities like gold, oil, silver, natural gas, etc. without actually owning them.
Stocks: Stock CFDs allow traders to speculate on the price movement of individual shares without owning the underlying stock. This can include stocks from various markets and sectors around the world.
Indices: Indices CFDs allow traders to speculate on the price movement of a group of stocks, typically from a specific stock market index like the S&P 500, FTSE 100, NASDAQ, etc. Traders do not own the individual stocks but the whole index.
Crypto: This allows traders to speculate on the price movement of cryptocurrencies like Bitcoin, Ethereum, Ripple, etc. without actually owning the underlying crypto. This is done through a contract for difference (CFD), which is a financial contract that pays the differences in the settlement price between the opening and closing trades.

Exness Online Trading Platforms in Singapore

Exness Trading Platforms is a suite of trading tools and applications designed to accommodate the varying needs of traders. It includes desktop, mobile, and web trading platforms which all offer distinct features and benefits.

Desktop Platforms:

MetaTrader 4 (Exness MT4): This is one of the most popular trading platforms globally, and it is well-known for its advanced charting features, automated trading capabilities, and wide range of technical indicators. It is ideal for both beginner and seasoned traders who need a reliable and feature-rich trading platform.
MetaTrader 5 (Exness MT5): This is a more advanced version of MetaTrader 4, designed to accommodate more types of assets and trading strategies. It offers additional tools for comprehensive price analysis and the use of automated trading programs.

Mobile Platforms:

Exness Trade App: This Exness app is designed to provide traders with an easy and convenient way to manage their trades and track the market from their mobile devices. It includes features such as real-time quotes, advanced charting tools, and full trading history.
MetaTrader 4 & 5 Mobile: These mobile versions of the MetaTrader platforms allow traders to manage their trades, monitor the market, and perform technical analysis directly from their smartphones or tablets. They are suitable for traders who are always on the go.

Web Platforms:

Exness Terminal: This web-based platform allows traders to access their trading accounts from any web browser, without having to download or install any software. It offers a user-friendly interface, advanced charting tools, and a range of trading instruments.
MetaTrader WebTerminal: This is a web version of the MetaTrader platform. It provides all the functionalities of the desktop version, including advanced charting tools, real-time market quotes, and a wide selection of trading instruments. It is a perfect solution for traders who want to trade from different devices without the need to download and install any additional software.

Trading Tools

Analytical Tools: These are tools that allow traders to analyze market trends and movements. They may include charts, graphs, and other visual resources to help traders understand the market better.
Economic Calendar: The economic calendar is a tool that provides information about major economic events around the world. It helps traders to prepare and plan their trades based on these events.
Trading Calculator: This tool allows traders to calculate potential profits or losses before executing a trade. It takes into account various factors such as leverage, lot size, and currency exchange rates.
Currency Converter: The currency converter tool helps traders to convert one currency into another. This is particularly useful for traders who deal in multiple currencies.
Tick History: Tick history tool provides historical price data for various currency pairs. This data can be used to analyze past market trends and predict future movements.
VPS Hosting: VPS hosting provides a secure and stable platform for traders to run their trading software. This ensures that their trades are executed without any interruptions.
Trading Central WebTV: Trading Central WebTV is a service that provides live market analysis and news updates. It helps traders to stay informed about the latest market trends and news.

Exness Deposit Options

Exness broker offers several options for making a deposit for users in Singapore. The processing time for each deposit varies depending on the method chosen.

Credit/Debit Cards: This is one of the most common methods used by traders. Deposits are instant, and there are no fees charged by Exness for the transaction. However, your card provider may charge you.
Bank Transfer: This is another option available. It is secure, but the processing time is longer, usually between 3 to 5 business days. There is no commission charged by Exness trading for this service.
Electronic Payment Systems (eWallets): This includes platforms like Neteller, Skrill, and WebMoney. The processing time is instant, and there are no fees charged by Exness.
Bitcoin: Exness also accepts deposits via Bitcoin. The transaction time can vary depending on the blockchain, but usually, it is processed within a few hours.
Local Deposits: This method is available in certain countries only. For Singapore, specific local deposit options may be available. These deposits are usually processed instantly.

Please note that the processing time and fees can vary and it is recommended to check the latest information on the Exness website or contact their customer service for any queries. The Exness minimum deposit amount varies per account type.

Exness Withdrawal Options

Exness offers a wide range of withdrawal options for its clients in Singapore. Here are some of the most popular methods:

Bank Transfer: This is a secure way to transfer funds directly from your Exness account to your bank account. The minimum withdrawal amount is usually $50, but this can vary depending on your bank’s policies. Processing time can take up to 3-5 business days.
Credit/Debit Card: This allows you to withdraw funds directly to your Visa or Mastercard. The minimum withdrawal amount is typically around $10. This method can take up to 3-5 business days to process.
E-Wallets: Exness supports various e-wallets such as Neteller, Skrill, and Perfect Money. The minimum withdrawal amount is normally around $10. Withdrawals to e-wallets are usually processed within 24 hours.
Bitcoin: Exness also offers the option to withdraw funds in Bitcoin. The minimum withdrawal amount for Bitcoin is 0.001 BTC. The processing time for Bitcoin withdrawals is typically instant.
Tether (USDT): This is another cryptocurrency withdrawal option offered by Exness. The minimum withdrawal amount is 20 USDT and the transfer is usually processed instantly.

In conclusion, Exness broker provides several withdrawal options to accommodate the diverse needs of its clients in Singapore. It’s important to note that processing times and Exness minimum withdrawal amount can vary depending on the method chosen and the policies of the receiving bank or e-wallet service. Always ensure to check the specific terms and conditions associated with your chosen withdrawal method to avoid any unexpected delays or fees.

Is Exness Legal in Singapore?

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 realiable 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.

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Exness Broker Review Singapore – Conclusion

In conclusion, the Exness broker review in Singapore reveals a robust trading platform offering competitive pricing, various account options, and superior customer service. The platform is known for its quick and efficient execution of trades, access to a wide range of financial instruments, and user-friendly interface. It provides a secure trading environment, complete with tight spreads and leverage, making it an ideal choice for beginners and seasoned traders. However, potential users should conduct their research to ensure that Exness meets their specific trading needs and risk tolerance levels.

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