Exness provides its traders with unique opportunities that are not found in other top brokers. This article will go through one such opportunity called the cost saving feature.
Exness is one of the most favored trading platforms worldwide. This is mainly because it provides its traders with unique opportunities not found in other top brokers. This article will go through one such opportunity called the cost-saving feature in Exness broker.
Getting to Know Exness
Since 2008, Exness Trading Corporation has been participating in the foreign exchange market. The broker is licensed to conduct business in over 130 countries and completely complies with the laws of every nation in which it works.
The broker is also a member of the Financial Commission, which enables them to offer insurance coverage of up to 20,000 EUR for each customer in the case of a force majeure occurrence.
The broker makes CFDs accessible for bitcoin, equities, more than 120 currency pairings, energy, and metals. The service offered by Exness provides traders with ideal working circumstances, such as cheap commission rates, immediate execution of orders, and rapid cash withdrawal.
What is Exness Cost Saving Feature
Exness offers clients a unique opportunity to save on different fees when trading on the platform. While most top brokers don't miss any opportunity to charge their clients full fees, Exness ensures they are either waived or discounted. The cost-saving feature is a separate section on the Exness platform that traders can access to determine how much they have saved while trading on Exness. Traders can log into their area and open the monitoring tab to the cost-saving feature.
🌐 WebsiteThe 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.
Types of Cost-Saving Statistics
Exness broker clients can enjoy having three different fees or charges waived or discounted while trading on the platform. They are as follows:
Transaction Fees
When you try to make a deposit or withdrawal, most brokers will charge you a hefty transaction fee. Exness covers all transaction fees for deposits and withdrawals for most payment systems except cryptocurrency and e-wallets like Perfect Money and Skrill. You can find out how much you saved on transaction fees through the Exness cost-saving feature.
Swaps Chargers
Brokers will charge you overnight swap fees for open positions unless you use an Islamic or swap-free account. This can significantly reduce the profits you would make in that position over time. However, Exness provides its traders the unique opportunity to enjoy swap-free positions for most trading instruments on the Exness platform.
Negative Balance Protection
When your positions are collectively causing your account to lose all your capital, Exness has a safety feature in a place called Negative Balance Protection. This ensures that you never face a loss greater than the capital in your account. The benefit of this feature is that it prevents you from going into debt with the trading platform.
See Also:
Final Verdict
Exness goes above and beyond to ensure that its clients are more than satisfied during their time on the platform. This is why Exness broker created the cost-saving feature to allow clients to make the most of their income on the Exness trading platform.
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.
28 Comments
Galuh
Apr 2 2023
Is there any way to benefit from swap charges if a broker doesn't offer a swap-free (Islamic) account? I've heard that some brokers provide swap options exclusively for Islamic traders, but I'm curious if there are alternatives for non-Islamic traders to take advantage of swap benefits. Are there specific strategies or solutions that allow traders to benefit from swaps even when using a standard trading account? I'm interested in exploring potential opportunities to optimize trading costs and maximize potential gains.
Linda
May 18 2023
It's great that you're interested in exploring alternative ways to benefit from swap charges even if your broker doesn't offer a swap-free account. While swap-free accounts are typically designed for Islamic traders, there are still strategies and solutions that can help non-Islamic traders maximize the potential of swaps within a standard trading account.
One approach you could consider is implementing a carry trade strategy. Carry trade involves taking advantage of interest rate differentials between currency pairs. By going long on a currency with a higher interest rate and short on a currency with a lower interest rate, you can potentially earn positive swap points on your positions. This way, you're essentially profiting from the interest rate differential while holding your positions overnight. ( read more about carry trade here : Carry Trade in Forex Trading
Another option is to strategically select currency pairs that offer favorable swap rates. Different currency pairs have varying swap rates, and some pairs may provide positive swaps on one side of the trade, allowing you to earn additional income. By conducting thorough research and analysis, you can identify currency pairs that align with your trading goals and offer attractive swap opportunities.
Mario
May 21 2023
Nah, I am not agreeing to do the carry trade. It is very hard to practice it especially beginner. What I want to suggest and the best to do with the swap charges is basically avoid it. I mean by focusing on intraday trading or day trading, you can aim to close all your positions before the end of the trading day, eliminating the need to pay or receive swap charges.
Short-term trading strategies typically involve capturing smaller price movements within a day and taking advantage of market volatility. Traders who prefer this style of trading often enter and exit positions within a few hours or even minutes. This way, they can avoid swap charges altogether as positions are not carried over to the next trading day.
Yeren
Apr 3 2023
Based on the article, it mentions that Exness provides traders with ideal working circumstances, including cheap commission rates. This raises the question: When it comes to swap fees, can we expect Exness to offer competitive rates?
I'm curious to know more about the specific swap fees charged by Exness for different financial instruments. Are the swap fees generally low, making it an attractive option for traders looking to minimize their trading costs? Or are there variations in the swap fees depending on the specific instrument being traded? Thank you!
Gaven
May 20 2023
AS I know, Exness aims to provide competitive rates to its traders. The specific swap fees charged by Exness may vary depending on the financial instrument being traded. It is essential to understand that swap fees are associated with the overnight financing of positions.
To obtain accurate and up-to-date information about the swap fees charged by Exness, I recommend visiting their official website or contacting their customer support. The swap fees sometimes can change based on the market, so you will not get the exact information unless you contact them to get the updated swap. They will be able to provide you with detailed information on the swap fees for different instruments, including bitcoin, equities, currency pairings, energy, and metals.
Jordan
Apr 5 2023
Gosh, it's true that some features are not available in other brokers. For instance, transaction fees are not easily found in other brokers, but with Exness, they cover all transaction fees. Other brokers may charge fees during the deposit and withdrawal process, which can be burdensome for traders since we also need to pay the fees that occur when the money is transferred to our account. Another feature that may not be available with other brokers is the negative balance protection. I'm curious about how this feature works. Does it mean that brokers will pay for our debt if we lose and our account becomes negative?
Erico
Apr 6 2023
Hey mate, negative balance protection is a feature that stops traders from losing more cash than they have in their account. Basically, if a trader's account balance goes negative due to losses, the broker will cover the negative balance, and the trader won't owe them any dough. Like you have said before, not all brokers offer this feature, so it's important to check with your broker if you want this protection. But in this case, if you trade with Exness, of course you will get this feature!
And although it can cover your losses, doesn't mean you will trade without any plan. By the way It's also good to remember that negative balance protection won't save you from losses that go over the funds in your account, so it's vital to use proper risk management and not over-leverage your trades.
Juan
Apr 7 2023
After reading through all your comments, I've come to the realization that when choosing a broker, it's crucial to consider not just the level of support they provide for trading, but also their ability to help save you money on fees. What struck me is that all the fees mentioned in the article are not related to the actual trading costs like spread and commission, but rather external third-party fees that traders may need to pay if their broker doesn't cover them.
That's why I'm seriously considering giving Exness a try since they seem to have a reputation for offering excellent fee coverage for their traders. I believe that this would help me keep my overall trading costs low, which is essential for me to stay profitable in the long run. Plus, their negative balance protection feature gives me added peace of mind since I won't have to worry about losing more than my account balance.
All in all, I think Exness could be the perfect fit for my trading needs. I wish you all a fantastic day, and good luck with your trading!
Erwin
Apr 5 2023
I have a question about "Swap Free". Or tell me about Exness Islamic accounts. It says that if this account is activated by a trader, you can get it for free and avoid trading. A problem I often come across is that swap-free accounts are limited to his Moslim Trader. So if we are not Muslim, we cannot get a swap-free account. So I slightly disagree when the author states that Exness cost saver is also swap free as while it can save costs for muslim traders it seems that non muslim traders can't use it .
Lorient
Apr 6 2023
You are correct that the Exness Swap-free feature is exclusively designed for Muslim traders and is not available to non-Muslim traders. However, I respectfully disagree with the notion that the swap-free feature is not a cost-saving feature. While non-Muslim traders may not be able to take advantage of this feature, it can help Muslim traders save on trading fees and conduct day trading more efficiently.
That being said, swing traders who utilize positive swaps to generate profit may not find the swap-free feature beneficial. Additionally, it's important to note that Exness offers other cost-cutting features such as free transaction fees and negative balance protection, which can also contribute to cost savings for traders. Ultimately, traders should evaluate their trading style, investment objectives, and account type preferences before ing an account type that suits them best.
Ladu
Apr 9 2023
Hi there, I have a question about the fees that are associated with depositing and withdrawing funds from my trading account. I'm new to trading and have never traded with a real account before, so I'm not sure exactly what fees are involved or if they are covered by Exness.
I want to know if Exness covers all of the fees that might be incurred when I deposit or withdraw funds from my account, or if there are any fees that I will need to pay out of my own pocket. Can you provide some more information about the fees that are involved with trading, and if they are covered by Exness?
Also, I noticed that Exness doesn't support cryptocurrency trading. I'm curious as to why this is the case. Is it because cryptocurrencies are too expensive or difficult to trade? I'm interested in trading with cryptocurrencies, so I would appreciate any insight you can provide on this matter. Thank you.
Darwin
Apr 10 2023
Let me answer you. The withdrawal fees for the example, international bank transfers can vary depending on a few factors, such as the bank you are transferring to, the currency you are using, and the amount you are withdrawing. Generally, banks charge a flat fee for international transfers, which can range from around $10 to $50 or more. In addition to the flat fee, banks may also charge a percentage-based fee on the amount being transferred.
Exness itself does not charge any additional fees for withdrawals, but keep in mind that your bank may charge fees on their end for receiving international transfers. It's always a good idea to check with your bank beforehand to see what fees may apply.
Otniel
Apr 9 2023
Exness offers a safety feature called Negative Balance Protection that ensures traders never face a loss greater than the capital in their account, even when their positions collectively cause their account to lose all the capital. How does this feature work and what benefits does it offer to traders? Can you explain in detail how this feature protects traders from going into debt with the trading platform? Additionally, what are the other risk management tools that Exness provides to its traders to help them manage their trading risks?
Yanto
Apr 10 2023
Yep, if your trades are all going wrong and you're losing all the money in your account, don't worry - Exness has something called Negative Balance Protection to keep you from getting into even more debt. Basically, this feature makes sure that you can't lose more money than you have in your account. So, if your positions go south, you won't end up owing the trading platform more than you can afford to pay back. It's a handy safety net that helps you manage your risk and avoid financial disaster.
Overall, Negative Balance Protection is a key safety feature offered by Exness that provides traders with peace of mind knowing that they cannot incur losses greater than the capital in their account. Additionally, the other risk management tools provided by Exness can help traders manage their risks and make more informed trading decisions. (read more about Negative Balance Protection)
Otniel
Apr 10 2023
Wow, that's such a relief to know that Exness has this safety feature called Negative Balance Protection! As a trader, I'm always worried about losing more money than I have in my account and going into debt with the trading platform. But with this feature, I can have peace of mind knowing that I'll never face a loss greater than the capital in my account. It's like having a safety net to catch me if I fall! I think this is such an important feature to have, especially for those of us who are still learning and may make some mistakes along the way. And also I have known about how it works too! Thank you, Exness, for providing this extra layer of protection for your traders! And thanks dude for your explanation about that!
Edward
Apr 30 2023
Hey there! Swap charges also included in the Exness Cost Saving. Okay, based on I know, swap can be charged if we open position for overnight. But as beginner I really don't know how much the swap can reduce the profit. So, I want to ask about how can the significance of swap fees impact the profitability of a trade, and what are some strategies that traders can use to mitigate or avoid the effects of these fees on their overall profit?
Boris
Apr 30 2023
The impact of swap fees on profitability can vary depending on the size of the position and the duration of the trade. For example, if a trader is holding a large position for several days or weeks, the cumulative swap fees can add up and significantly reduce the overall profit of the trade.
To mitigate the impact of swap fees on their profitability, traders can employ several strategies. One strategy is to carefully consider the duration of their trades and avoid holding positions open overnight if possible. Another strategy is to look for currency pairs with lower interest rate differentials, as these pairs tend to have lower swap fees.
Traders can also consider using swap-free accounts, which is offered by Exness too as the main option to avoid this fees.
Alesandro
Apr 30 2023
According to the article, Exness covers all transaction fees for deposits and withdrawals for most payment systems. However, as a new user, I am unsure of what fees I would be charged if Exness doesn't cover the transaction fees. Can someone provide information on the transaction fees that may be incurred and the general cost associated with them? I'm hoping to compare fees across different payment gateways.
Dion
Apr 30 2023
Yes, Exness does cover transaction fees for most payment systems, but it's always a good idea to double-check the fees for any specific payment method you plan to use. Transaction fees can vary depending on the payment method and the specific service provider, so it's hard to give a general estimate of how much they might cost.
However, some payment methods may charge fees for deposits or withdrawals, such as credit/debit cards or bank transfers. These fees are usually a percentage of the transaction amount or a flat fee. You can usually find information about transaction fees on the payment provider's website or by contacting their customer support.
For the example, let's say you're trading with Exness and you want to deposit $1000 into your trading account using a credit card. Exness covers transaction fees for most payment systems, but in this case, your credit card issuer charges a 2.5% transaction fee, which would be $25 in this scenario.
Jeremy
Apr 30 2023
Dude, based on my experience, some payment systems may charge a fee for deposits and withdrawals, which can vary depending on the payment method used and the specific payment system. However, with Exness covering these transaction fees for most payment systems, traders can save money and avoid any surprises when it comes to depositing or withdrawing funds. This can be a significant benefit for traders who want to keep their transaction costs low and maximize their profits.
Roger
Jun 17 2023
Hey there! Let's have a friendly chat about Exness and their interesting concept of negative balance protection. So, I heard that Exness has this cool safety feature called negative balance protection. It's designed to make sure that traders never face a loss greater than the capital in their account. I'm curious, how does this feature actually work? How does Exness ensure that you won't end up owing more than what's in your account? It sounds like a pretty awesome way to protect yourself and avoid getting into debt with the trading platform. I'd love to know more about how Exness implements this and the peace of mind it brings to traders. What are your thoughts on this intriguing feature?
Anthony
Jul 1 2023
@Roger: The way it works is that Exness closely monitors the accounts of their traders to ensure that the losses incurred do not exceed the available capital in the account. If, for example, there is a sudden market move that results in significant losses, Exness will step in and absorb those losses, preventing the account balance from going into negative territory.
This feature brings a great deal of peace of mind to traders because it eliminates the risk of owing more money than what you initially invested. It's a strong safety net that protects traders from unforeseen market events and extreme volatility.
By implementing this feature, Exness demonstrates its commitment to the well-being of its clients and their trading experience. It allows traders to focus on their strategies and trading decisions without the constant worry of potential debts.
Overall, I believe Exness' negative balance protection is a valuable asset for traders, providing an extra layer of security and enhancing the overall trading experience. It's definitely a feature that sets Exness apart and makes them a preferred choice for many traders.
Jenne
Jul 2 2023
I'm curious about the benefits of being a member of the Financial Commission for brokers like Exness. I noticed that they offer insurance coverage of up to 20,000 EUR per customer in case of a force majeure event. That sounds pretty reassuring! Can you explain how being a member of the Financial Commission enables Exness to provide this insurance coverage? It must be great for clients to have that added protection. I'm also interested in how being a member of the Financial Commission helps build trust and confidence in Exness. Does it show their commitment to regulatory compliance and ensuring customer safety? Thank you!
Gaia
Aug 1 2023
First of all, I think Exness is a pretty safe broker, given its long operating history, multiple regulatory bodies, and popularity. I feel confident keeping my money there without worries. However, one thing I'm curious about is the negative balance protection they offer. Does it mean that if there's an abnormal market situation, all traders, or most of them, will end up with a negative balance? I wonder if the negative balance protection feature can truly bring the account balance back to zero or if traders need to pay some money to cover the losses. It's important to understand how this feature works in extreme market conditions to make informed decisions about our investments.
Fuji
Aug 2 2023
I understand your concern about Exness being a safe broker with multiple regulatory bodies and its long-standing reputation. The Negative Balance Protection feature does offer an extra layer of security, ensuring you won't lose more than the capital in your account, which is definitely reassuring.
However, it's important to clarify how the Negative Balance Protection works in extreme market situations. While this feature prevents your account from going into a negative balance, there are instances of abnormal market movements where many traders may face losses that exceed their account balance. In such cases, Exness takes the responsibility to absorb those losses, meaning you won't owe money to the broker. Your account balance will be brought back to zero, but you won't need to pay additional money to cover the negative balance.
Philips
Aug 1 2023
Hey, have you heard about Exness Trading Corporation? They've been in the foreign exchange market since 2008 and are licensed to do business in over 130 countries, which is pretty impressive, right? Plus, they're totally compliant with the laws of every nation they work in, so you know they're legit.
Oh, and get this – according to the article, they're a member of the Financial Commission, which means they offer insurance coverage of up to 20,000 EUR for each customer in case of any force majeure situation. That's some serious protection for their clients!
You know what's cool? Exness makes CFDs available for bitcoin, equities, like so many currency pairings (over 120!), energy, and metals. And the best part? They provide traders with fantastic working conditions – think low commission rates, instant order execution, and super fast cash withdrawal. I wonder which one of their services could have higher fees in general though, considering all these perks they offer? Do you have any idea based on what you read in the article? Let's dive in and find out!
Borui
Aug 2 2023
The spread is the difference between the bid and ask prices, and it's how brokers earn revenue in forex and CFD trading. There are two types of spreads, fixed and variable, each with its pros and cons.
Fixed spreads are steady, but they might be higher. On the other hand, variable spreads can be tighter under normal conditions, but they might widen during high market volatility. The spread is influenced by volatility and liquidity.
Considering these factors, in general, forex tends to offer the lowest spreads, making it attractive to many traders. However, assets like ETFs and some exotic currency pairs in forex may have higher spreads, making them costlier to trade. So, it's essential to keep an eye on spread levels, especially when trading different assets, to manage trading costs effectively.
Jeremy
Aug 3 2023
In my opinion, I think you cannot say which one that have higher spread. I think, it's important to note that spreads can vary between different brokers and trading platforms. Some brokers may offer competitive spreads on certain assets or during specific trading sessions, while others might have wider spreads. As a trader, it's essential to compare spreads from various brokers to find the most favorable conditions for your trading style and preferred assets. Keeping an eye on spread levels and choosing a reputable broker with transparent pricing can help optimize your trading experience and potentially reduce trading costs in the long run. So, always consider the spread as one of the key factors when selecting a broker for your trading journey.