Exness Is Why Im Broke

 50 Words on – Why you can go Broke with Exness?

Although overall, I consider Exness a good Forex broker, a few drawbacks and things have to be taken into consideration. The biggest problem seems to be the amount of re-quotes, especially during volatile market conditions. On public forums even Exness representatives acknowledge this issue but at the same time they say it’s rather normal. I have to agree with them to some extent: although it is unpleasant to be re-quoted often, it is something that we traders must deal with. I am very happy with the broker I trade with but I do get re-quotes quite often in volatile market conditions, especially around news releases so the fact that Exness has re-quotes is nothing out of the ordinary, just something that you have to be aware of.

 

How to avoid going broke with Exness

  • Consider using the free VPS service offered by Exness. This will reduce the time needed to ping a trading server and will hopefully decrease the re-quotes.
  • Consider enabling “maximum deviation from quoted price” in the “New Order” window. This will allow you to limit the gap between current and re-quoted price (the order will not activate if the deviation is bigger than a certain amount of pips, which you decide).
  • Avoiding news time will also limit the re-quotes.
  • Using pending orders will limit slippages
  • Make sure your internet connection is not overloaded when trading. Try closing other unnecessary windows and don’t trade with 10 Youtube clips running.
  • Be aware that spreads may also increase during volatile market condition – again, this is normal.
  • Leverage can go as high as 1:2000 so make sure you know how to use such leverage.
  • Withdraw periodically at least in the beginning.

 

 

Editor’s Note – Is Exness a Scam?

They’ve been around since 2008 but this alone doesn’t mean they are not a scam. However, the fact that in middle 2014 their clients’ monthly volume exceeded 180 billion USD [see link] might be a clear indication that we are not dealing with a scam (the information regarding this trading volume was certified by an independent and well respected audit company – Meritorius Audit Limited). Of course on public forums I could find people who called Exness a scam, but I have yet to see a broker that is not called “scam” by someone at some point.

 

Bottom Line – Would I Trade with Exness?

Earlier I said that I find re-quotes normal and I am not going to change my opinion but if I would choose to trade with Exness and I would see that my trading performance is negatively affected by the amount of re-quotes, I would withdraw all my money and choose another broker. So, to answer the question: yes, maybe I would give them a try but I also believe there are better options out there.

 

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