Exness Philippines Review 2024 - TU expert opinion
Is the Forex market legit in Philippines?
Forex trading is legal in the Philippines, however there are certain difficulties. The operation of the Forex market in the Philippines is regulated by the Philippines Securities and Exchange Commission. Due to a complex law, there are few local brokers in the country. The Philippines Securities and Exchange Commission is generally hostile, which is why trading is problematic. However, the residents of the Philippines can use the services of international brokerage organizations. Therefore, it is worth considering the possibility of trading with international companies.
How to Trade Forex in the Philippines
For a safe start in the Forex market, you need to register on the website of an international brokerage company with a stable reputation, and a SEC license for providing financial services. Make sure you have a stable high-speed Internet connection on your device. After registering, pass verification and fund your account using your debit/credit card or another option. Next, you need to install a trading platform or download the broker’s mobile app if you plan to trade with your smartphone. As soon as your deposit is credited to your account, you can start trading any currency pairs your broker offers.
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 Philippines
Exness is a good choice for traders from Philippines. 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:
-
650,000+ active clients;
-
Over $1.7 billion of withdrawn funds;
-
Over $140 million of paid partner rewards.
Advantages of Exness for trading in Philippines
Traders Union analysts conducted a detailed analysis of Exness for traders from Philippines. 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 Philippines
Traders Union analysts analyzed the key features of Exness for traders from Philippines. 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 Philippines
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 Philippines. 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)
|
---|---|
📊 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
|
🚀 Minimum deposit: |
$10
|
⚖️ Leverage: |
1:unlimited for retail clients
|
💼 PAMM-accounts: |
No
|
📈️ Min Order: |
0.01
|
💱 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
|
💹 Margin Call / Stop Out: |
Standard: 0%/60%
Professional: 0%/30% |
🏛 Liquidity provider: |
FXCM Pro and ADS Securities
|
📱 Mobile trading: |
Yes
|
➕ Affiliate program: |
Yes
|
📋 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
|
Exness Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by Exness for traders from Philippines. 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 Philippines?
Yes. Exness operates legally in Philippines. The broker holds the necessary licenses.
Can you learn trading with Exness? Does the broker offer courses for traders from Philippines?
Yes, Exness offers good trading courses and a lot of educational information for clients from Philippines.
Can Exness be trusted? Has the broker been operating in Philippines long?
Exness has been operating in Philippines quite long and has a good reputation. Therefore, traders can work with Exness.
Is Exness suitable for novice traders from Philippines?
Yes. Exness offers optimal trading conditions and good education for beginners from Philippines.
How efficient is Exness customer support in Philippines?
Exness offers a sufficient number of ways to contact customer support in Philippines, and also provides support in the state language.
Has Exness had any incidents involving theft of funds of clients from Philippines?
No. Exness provides reliable security of funds of clients from Philippines.
Will I be able to file a lawsuit in Philippines if Exness violates my rights?
Yes. If Exness violates your rights, you can file a complaint with the regulator of Philippines, and then with a court.
Can Exness clients from Philippines use the broker’s mobile app?
Yes. The mobile app of Exness is available for the clients from Philippines.
Does Exness provide Philippines market analysis?
Analysis of Philippines is featured in the information provided by Exness.
How can I withdraw funds from my account at Exness in Philippines?
Exness supports bank transfers and debit/credit cards of the banks operating in Philippines.
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.