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Disapointing with the payment system
I am very disappointed with the payment system lately. It's good that they offer a new type of payment for deposits and withdrawals but they are obviously lacking. It really feels unreliable and I hope they can do something about it.
I am trading with DEMO Ac for the last 6 months and tried many times support assistance of Exness but failed. They don't reply my doubts properly. Always use some fixed questions and answers which is fixed in its main menu which is scripted only. I had asked the procedure of withdrawal they didn't able to satisfy me with their answer and out.
I had nothing but problems during my time trading with this broker. First of all, when I deposit my money, it goted so I had to wait longer than usual until my money arrived in my account. Next when I tried to withdraw my money apparently it also goted. It took soooo long for them to give it back. I can't comprehend why it took that long. But, the overall trading experience is not too bad but not too good either.
The margin often changes and this is a huge issue for me. One time I notice that the margin change from 0.25% to 2%. This has caused me to miscalculate all of my trading costs. I keep a detailed trading journal, something like this truly throws away all of my plans.
Deposit and Withdrawal Trading Instruments
Overall, this is actually a very good broker. I have been trading with them for quite a while, three years to be exact. But, during that time, I was only focusing on forex trading, and I haven't actually tried trading other instruments. I recently added cryptocurrency to my portfolio, but I was surprised to find how bad the situation was. In my opinion, they should behave like proper and professional brokers. I tried to withdraw my funds via crypto, and I was told by customer services that it would take 72 hours to get them. I mean, it's crypto. The price can change at any second. This is not what a professional broker would do.
They were very kind from the beginning. They even help me when I have trouble depositing some money. Not with withdrawal tough, they went 180 degrees. In fact, it's been 3 months since I've been trying to withdraw money and nothing is coming out.
Customer Support Demo Accounts
Seriously, one of the worst customer service I have ever had in my whole entire trading career. I am using a demo account and contacting with the support team. But they tell me that my account isn't valid. That is impossible since I am sure that the account is verified. I ask them for further information but they were really unhelpfully. Imagine if this happens to a live account with REAL money.
Spreads and Commissions Automatic Trading
Spread can be high, but still okay
And yes, the fact that the spreads are very high on the standard and pro accounts at this broker, although on other accounts the spreads are pretty low. Why is there such a big gap in the spread of each account? instead of having to be balanced or at least close together. However, on the positive side, there is a free exchange on some financial instruments, for example on cryptocurrency (my favorite instrument). And VPS can also be used 24/7, so I feel safe considering the risk of trading, especially cryptocurrencies, is quite high.
Well, I admit overall, this broker is pretty great. However, I feel unsuited to trading crypto in this company. Why does this company provide multiple accounts for crypto, but the spreads that it offers are very high and it annoyed me. Why should it be like that? Even though there is no commission, isn't it more convenient that the spread is competitive with other brokers?
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service (1)
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Order Execution Customer Support
Stop my trade with no warning
Exness suddenly stop my trade with no authorization!
Here is the story. I place an order, and per usual, I place a stop loss order several pips below. Exness stopped trading the pair for 30 minutes for no reason or prior information. I thought this was an error, so I sent them an email. But they didn't reply to my email, and to this day, I still haven't received any reimbursement or at least an explanation about how my order was top abruptly. This is very disrespectful. Shame on you!