Online Trading Starts Here
EN /
AR Arabic AZ Azerbaijan CS Czech DA Danish DE Deutsche EN English ES Spanish FI Finnish FR French HE Hebrew HI Hindi IND Indonesian IT Italian KK Kazakh MS Melayu NB Norwegian NL Dutch PL Polish PT Portuguese RO Romanian ... Русский SV Swedish TH Thai TR Turkish UA Ukrainian UZ Uzbek VI Vietnamese ZH Chinese
Menu
  1. Traders Union
  2. /
  3. Forex Brokers List
  4. /
  5. Exness Review
  6. /
  7. Exness South Africa Review 2024 - TU expert opinion
Advertiser Disclosure

Exness South Africa Review 2024 - TU expert opinion

Updated: May 02, 2024
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Dr. BJ Johnson
Editor
Share this:

Table of Contents

  • Is Forex legit?
  • Our Evaluation of Exness
  • Detailed Review of Exness in South Africa
  • Advantages of Exness for trading in South Africa
  • Analysis of the Main Features of Exness
  • Trading Conditions for Exness Users in South Africa
  • Exness Commissions and Fees
  • FAQs
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

Is the Forex market legit in South Africa?

Our Evaluation of Exness

7.83/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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 South Africa

Exness is a good choice for traders from South Africa. 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 South Africa

Traders Union analysts conducted a detailed analysis of Exness for traders from South Africa. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:

1

Spreads from 0.3 pips on standard and 0 pips on professional account types;

2

Competitive fees per lot on accounts for experienced traders;

3

Free analytical tools and access to the WebTV newsfeed;

4

High partner rewards for attracting new clients;

5

Participation in international compensation funds that return investors’ money in case of the broker’s bankruptcy;

6

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 South Africa

Exness Review
Open an account
Your capital is at risk.
You can lose your money.

Traders Union analysts analyzed the key features of Exness for traders from South Africa. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

9.30

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

8.79

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

8.79

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

8.02

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

9.60

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

9.29

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

1.00

/10

Trading conditions for Exness traders from South Africa

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 South Africa. 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 South Africa. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.

Information

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 South Africa?

Yes. Exness operates legally in South Africa. The broker holds the necessary licenses.

Can you learn trading with Exness? Does the broker offer courses for traders from South Africa?

Yes, Exness offers good trading courses and a lot of educational information for clients from South Africa.

Can Exness be trusted? Has the broker been operating in South Africa long?

Exness has been operating in South Africa quite long and has a good reputation. Therefore, traders can work with Exness.

Is Exness suitable for novice traders from South Africa?

Yes. Exness offers optimal trading conditions and good education for beginners from South Africa.

How efficient is Exness customer support in South Africa?

Exness offers a sufficient number of ways to contact customer support in South Africa, and also provides support in the state language.

Has Exness had any incidents involving theft of funds of clients from South Africa?

No. Exness provides reliable security of funds of clients from South Africa.

Will I be able to file a lawsuit in South Africa if Exness violates my rights?

Yes. If Exness violates your rights, you can file a complaint with the regulator of South Africa, and then with a court.

Can Exness clients from South Africa use the broker’s mobile app?

Yes. The mobile app of Exness is available for the clients from South Africa.

Does Exness provide South Africa market analysis?

Analysis of South Africa is featured in the information provided by Exness.

How can I withdraw funds from my account at Exness in South Africa?

Exness supports bank transfers and debit/credit cards of the banks operating in South Africa.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

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.

Read more
Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

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.

Read more