Exness Egypt Review 2024 - TU expert opinion
Is the Forex market legit in Egypt?
Forex trading is legal in Egypt, but this sector is currently weakly regulated by the state. The residents of the country have the right to trade in the Forex market using a broker, but this activity carries risks as there is no mechanism for issuing licenses to financial organizations. Therefore, you need to be particularly careful when choosing a broker.
It is important to know the tax policy for traders from Egypt. Under the law, traders must declare income from investment activity and pay a 10% income tax.
How to Trade Forex in Egypt
You need to start by choosing a brokerage company. Choose a reliable broker with a European or U.S. license, good reputation and a wide choice of instruments. Next, register on the broker’s website and verify your account. The next step is to deposit money to your account using a debit/credit card or a payment system. To reduce the risks, we recommend testing your trading strategy on a demo account before trading with real money.
Our Evaluation of Exness
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Exness is a reliable broker with the TU Overall Score of 7.83 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Exness clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
Detailed Review of Exness in Egypt
Exness is a good choice for traders from Egypt. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
Eight international regulators and the independent Financial Commission supervise Exness activities. This ensures a high-security level regardless of the Exness Group subdivision. Financial reports on main indicators, such as trading volume, active clients, withdrawal amounts, and partner rewards, are updated monthly on the broker’s website. Every six months, Deloitte (London), which is one of the Big Four global accounting firms, conducts audits of Exness. The broker also offers a fairly extensive list of CFDs on stocks, such as: Nvidia stock, Apple stock, Google stock, Tesla stock etc.
Exness performance as of September 2023:
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650,000+ active clients;
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Over $1.7 billion of withdrawn funds;
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Over $140 million of paid partner rewards.
Advantages of Exness for trading in Egypt
Traders Union analysts conducted a detailed analysis of Exness for traders from Egypt. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
Spreads from 0.3 pips on standard and 0 pips on professional account types;
Competitive fees per lot on accounts for experienced traders;
Free analytical tools and access to the WebTV newsfeed;
High partner rewards for attracting new clients;
Participation in international compensation funds that return investors’ money in case of the broker’s bankruptcy;
24/7 technical support is available in 5 languages, including English.
Exness adheres to a client-oriented approach in its payment processing policy. Therefore, instant deposits and withdrawals with no broker’s fees are available.
Analysis of the Main Features of Exness in Egypt
Traders Union analysts analyzed the key features of Exness for traders from Egypt. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for Exness traders from Egypt
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of Exness trading conditions for traders from Egypt. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
MetaTrader 4/5 (desktop, web, and mobile), Exness Terminal (web), and Exness Trade App (mobile)
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📊 Accounts: |
Standard type: Cent, Standard, and Plus
Professional type: Pro, Zero, and Raw Spread |
💰 Account currency: |
EUR, USD, GBP, CAD, AUD, and CHF for all account types;
38 more currencies for non-cent account types |
💵 Replenishment / Withdrawal: |
Skrill, Neteller, Perfect Money, BTC, USDT, USDC, VISA, VISA Electron, Mastercard, Maestro, and internet banking
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🚀 Minimum deposit: |
$10
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⚖️ Leverage: |
1:unlimited for retail clients
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💼 PAMM-accounts: |
No
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📈️ Min Order: |
0.01
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💱 Spread: |
Standard: from 0.3-1 pips subject to the account type;
Professional: from 0-0.1 pips subject to the account type |
🔧 Instruments: |
Forex CFDs on: cryptos, commodities, indices, and stocks
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💹 Margin Call / Stop Out: |
Standard: 0%/60%
Professional: 0%/30% |
🏛 Liquidity provider: |
FXCM Pro and ADS Securities
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📱 Mobile trading: |
Yes
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Cryptocurrencies — market;
Other assets — instant/market (Pro), market (Zero, Raw Spread, and standard account types) |
⭐ Trading features: |
Floating spreads;
Fixed fee per lot on professional account types. |
🎁 Contests and bonuses: |
Occasionally
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Exness Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by Exness for traders from Egypt. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
Exness charges only trading fees. These are spreads on Standard and Pro accounts and spreads + fees per lot on Raw Spread and Zero accounts. The company doesn’t withhold non-trading fees.
Account type | Spread (minimum value) | Withdrawal commission |
Standard Cent | $0.3 | No |
Standard | $3 | No |
Standard Plus | $10 | No |
Raw Spread | $0 | No |
Zero | $0 | No |
Pro | $1 | No |
When traders transfer positions overnight, they either earn or lose money on swaps.
The comparative table below shows the average fees of three brokers. TU experts have compared Exness spreads to spreads of RoboForex and Pocket Option to find out whether they are compatible.
FAQs
Is Exness legal in Egypt?
Yes. Exness operates legally in Egypt. The broker holds the necessary licenses.
Can you learn trading with Exness? Does the broker offer courses for traders from Egypt?
Yes, Exness offers good trading courses and a lot of educational information for clients from Egypt.
Can Exness be trusted? Has the broker been operating in Egypt long?
Exness has been operating in Egypt quite long and has a good reputation. Therefore, traders can work with Exness.
Is Exness suitable for novice traders from Egypt?
Yes. Exness offers optimal trading conditions and good education for beginners from Egypt.
How efficient is Exness customer support in Egypt?
Exness offers a sufficient number of ways to contact customer support in Egypt, and also provides support in the state language.
Has Exness had any incidents involving theft of funds of clients from Egypt?
No. Exness provides reliable security of funds of clients from Egypt.
Will I be able to file a lawsuit in Egypt if Exness violates my rights?
Yes. If Exness violates your rights, you can file a complaint with the regulator of Egypt, and then with a court.
Can Exness clients from Egypt use the broker’s mobile app?
Yes. The mobile app of Exness is available for the clients from Egypt.
Does Exness provide Egypt market analysis?
Analysis of Egypt is featured in the information provided by Exness.
How can I withdraw funds from my account at Exness in Egypt?
Exness supports bank transfers and debit/credit cards of the banks operating in Egypt.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.