As a regulated broker, Exness is committed to prioritize their client's safety. Here's a guide to safeguard your account with Exness protocols and your own vigilance.

Protect Exness Account from Fraud

Any trader must understand that while the forex market is an incredible place to earn profits, it is also packed with lurking frauds. Sometimes it can be hard to avoid such malicious acts, even if you're being careful. Thankfully, there are brokers like Exness that take their clients' funds safety very seriously.

As a legit and regulated broker, Exness is committed to provide a safe trading environment with enhanced account security and advanced fund protection for their clients. The broker offers several protection measures to ensure that no unauthorized users can log in to your account and make any transactions without your consent.

To keep your trading account safe from frauds, we have summarized all the precautions that you need to take and a full guide on security measures provided by Exness in this article.

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Review Start Trading
Website
www.exness.com
Established
2008
Leverage
1:2000
Min Deposit
$10
Regulation
FSA (Seychelles), CBCS (Curacao), FSC (BVI), FSCA, CMA (Kenya), FCA, CySEC, ESMA
Key Features Extensive Review
PAMM
Trading contests
LAMM
Segregated accounts
VPS
Free education
Islamic account
Copy trading
Compensation scheme
Negative balance protection
Low spread eur/usd
Affiliate program
Trading via API
WebMoney
Wire transfer
Skrill
Neteller

The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.

Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.

Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.

The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.

Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.

Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.

The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.

Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.

The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.

Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.

One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.

Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.

Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.

When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.

From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.

 

Identify Common Fraud Practices

Forex frauds can come in various forms. For instance, frauds may pose themselves as Exness representative to gain access to your personal data and funds.

Some of them may look legit and even use Exness logo to convince their targets. This is one of the most common tactics that they use to trick you into trusting them.

To avoid becoming the next victim of fraud, you need to be able to differentiate the real Exness agent from the fake ones. Here's how:

  • Exness only uses their official brokerage accounts to contact customers, so if you come across an unofficial account on Telegram, WhatsApp, or any other messaging platform, it is most likely a scam.
  • Check the validity of the message that they sent you. If they claim that they found suspicious activity in your account, directed you to a website and asked for your personal data, or offered investment opportunities, immediately block the number and delete the message.
  • If you get an unexpected phone call from someone who claims that they work at Exness, then they ask for your personal data or direct you to click on a link, hang up and block the number.
  • If you feel you've provided sensitive information to someone else, please log in to your account and change your password.
  • If you're still unsure about the validity of an incoming message or call, contact the customer support team on the broker's website.

Should you come across a fraudster based on the description above, the best thing you can do is simply ignore them or you can reach out to Exness' customer support team for further action.

 

Use Exness Security Measures

To further protect your account, Exness offers several account security measures with various levels of protection. This refers to the verification methods available to verify the account holder.

In Exness, you are required to enter a 6-digit verification code to do certain actions such as changing your password, changing your security type, recovering your Personal Area password, and withdrawing funds. Therefore, it's important to choose a method that you can access easily to get the codes.

Using this method, the verification code will be sent to your registered email address. The security level is considered low because emails are considered easier to break into compared to other methods. Please note that you can only change the method from handphone to email in the first thirty days after registration. After that, you can only do the opposite, changing the method from email to handphone.

The verification code will be sent to your phone number either via SMS or voice OTP. Keep in mind that only one phone number can be used to receive the code at once. The system will use your registered phone number as default, but you can replace it with a different phone number in your account settings at any time.

TOTP (Time-based One Time Password) is the highest form of account security offered by Exness. Instead of using the OTP codes sent to your email or phone number, this method requires the use of a verified email and an authenticator app to verify the user. This feature is only available in certain countries like China, Indonesia, Pakistan, Bangladesh, Cambodia, Sri Lanka, and Vietnam. iOS users can either use Google Authentication, Microsoft Authentication, or the Authy app to verify. Meanwhile, Android users can either use Google Authentication, Huawei, OPPO, VIVO, or MIUI.

 

Please keep in mind that your account will be locked if you enter the wrong code repeatedly within the same period. When this happens, you need to wait for 24 hours before you can try again. Clearing your cache and cookies will allow you to try again immediately, but this doesn't guarantee that the process will be successful.

 

Change Your Security Type

Exness broker allows you to change your security type manually under certain conditions. You can do so in your Personal Area. Here is the step-by-step guide.

  1. Login to your Personal Area using your credentials.
  2. Click on your profile in the top-right corner and select "Settings".
    Exness Security 1

  3. Under the 2-Step Verification section, click the "Change" button.
    Exness Security 2

  4. Choose your preferred security type.
    Exness Security 3


  5. Enter the verification code sent to your email or phone number, or the code generated by the authenticator app to complete the process.

 

Other Tips on How to Keep Your Trading Account Safe

No one in the trading world wants to get scammed, but not everyone knows how to avoid it or is even aware of the risk. Here are some general tips on how to keep your Exness trading account safe from frauds:

  • Do not leave your desktop, laptop, or mobile phone unattended. For higher safety, lock the screen with a password, PIN, or face recognition.
  • Never ask anyone to create an Exness Personal Area using your name.
  • Never share your personal documentation such as your national ID, passport, etc. with anyone.
  • Never share your verification code digits or PIN with anyone.
  • Do not send any money to unknown bank accounts, payment cards, wallets, or other transaction methods.
  • Never open any links from unknown sources, especially if they look suspicious and are sent by an unofficial account.
  • Do not tell anyone about the email or phone number you used to register with Exness.
  • Only use your own mobile number, mobile device, and email to get verification codes.

 

Final Words

Compared to other brokers, Exness' account security measures are quite impressive. To prevent frauds and unverified users from accessing the account, each client is required to enter verification code every time they take vital actions such as changing their password or withdrawing their funds. 

But aside from that, you should also be able to protect yourself by not giving away your account credentials to anyone under any circumstances. By following the tips provided in this guide, you can recognize and avoid fraudsters on the internet rather easily. Just remember to always stay alert to keep your account safe at all times.

 

Exness is a forex and CFD brokerage that serves clients to trade across multiple markets with the most stable and reliable pricing in the industry. Their features include spreads as low as 0 pips and maximum leverage of 1:unlimited.