Although Exness is renowned for its helpful customer service and a minimum deposit of $1, several of its clients have complained about bad experiences with this broker, and the main issue raised is the impossibility of withdrawing funds from Exness. The “global” market is handled by certain Exness Limited, based in Saint Vincent and the Grenadines. This http://www.vixbrokers.com/minimumdeposit/exness.html company is a registered International Business Company and is an offshore company that does not offer client fund protection. Aside from that,
The branch of the broker that focuses on dealing with EU clients is Exness CY Limited, which is based and registered in Cyprus. The registration number is HE 293057. CySEC is the regulator of this company. The CySEC license number for this company is 178/12.
Exness UK Ltd. is an FCA-regulated broker. The company’s registration number is 088611481, while the FCA’s registration number is 730729.
Apart from that, Exness is also registered with CONSOB Italy and CNMV Spain.
From that explanation, it is clear that the regulatory status of this broker is quite extraordinary. Being regulated by CySEC and FCA means that Exness is MiFID compliant, which also means that Exness can be a trustworthy broker. What’s more, it also offers some attractive guarantees for traders.
Exness brokers have a low risk or high level of trust. However, Exness is not a public company and does not operate a bank. Exness is regulated by one level-1 regulator (high confidence level), three level-2 regulators (average confidence level), and zero level-3 regulators (low confidence level).
Exness is very popular in 2 countries (Vietnam and Thailand), quite famous in South Africa, Pakistan or India. Exness is not popular enough in countries with strict regulations like the US, EU, UK, or Australia (source: Ahrefs).
There are more than 1,000 searches for “Exness is a Scam” (mostly in Vietnam) which raises questions about the operations of their offshore company serving all of the countries that have been mentioned.
It can be said that most trading activities are carried out under offshore companies. For this reason, Exness cannot compete with the top global brokers.