Exness Trade MT5 was registered on February 8, 2024, as a Contract for Difference (CFD) broker. The broker primarily offers users a wide range of trading markets through the MT5 trading platform and its corresponding mobile applications, including forex, stocks, futures, energy, precious metals, cryptocurrencies, and more.
Company Registration Information and Regulatory Status:
The homepage of Exness Trade MT5 shows that its headquarters is in Ireland, while on its company profile page, it is stated that the headquarters is in London, which is contradictory. The company claims to be regulated by the UK Financial Conduct Authority (FCA ID: 504072), the Australian Securities and Investments Commission (ASIC ID: 406684), the Japanese Financial Services Agency (FSA ID: 2010401081157), and the Central Bank of Ireland (CBI).
Upon verification, the official website of the UK Financial Conduct Authority (FCA) shows that the license number 504072 belongs to AVA Trade EU Limited. The Australian Securities and Investments Commission (ASIC) website shows that the license number 406684 belongs to AVA CAPITAL MARKETS AUSTRALIA PTY LTD. The Japanese Financial Services Agency (FSA) website shows that the license number 2010401081157 belongs to Ava Trade Japan K.K. These three entities are actually registered entities of the well-known broker AVATrade, and have no relation to Exness Trade MT5. Additionally, the Central Bank of Ireland (CBI) does not list any registration information for Exness Trade MT5.
Moreover, the design and content of this broker's official website are almost identical to those of other broker websites such as X Charter, Profit Pulse Limited, Capital Group, Webullforex, EBC, Decode Global Limited, etc.
Opening an Account:
To open an account with Exness Trade MT5, visit the broker's official website and click "Register" either on the homepage or the top right corner of the page. Fill in the required fields with your name, email address, set a password, and upload your ID and bank card proof. After submission, the account is successfully registered.
Trading Account Information:
The official website of Exness Trade MT5 only provides information on spreads, trading leverage, margin call/stop out levels, and contract sizes. Information on account types, trading commissions, minimum/maximum trading volume, maximum positions/orders, and minimum price fluctuation is not disclosed.
- Spreads: Variable, starting from 1 pip
- Trading Leverage: 1:100—1:500
- Margin Call/Stop Out Levels: 100% / 50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform:
Exness Trade MT5 claims to offer the MT5 trading platform to its users, but the broker does not provide a download link on its official website. Additionally, it is only possible to link existing accounts on the MT5 through its website address; opening new accounts is not possible via the platform.
Deposits and Withdrawals:
Exness Trade MT5 does not clearly disclose the supported deposit and withdrawal methods, fees, or minimum amounts on its official website.
Summary:
Traderknows warns investors that Exness Trade MT5 is a forex scam site with opaque registration and regulatory information and is suspected of false advertising. Users can only contact the broker via email, which is a very limited method of communication. The design and content of its official website use the same template as other brokers like X Charter, Profit Pulse Limited, Capital Group, Webullforex, EBC, and Decode Global Limited. Traderknows advises investors to choose brokers that are transparent with information, strongly regulated, and have a good reputation to avoid unnecessary financial losses.
Currently, this broker is flagged as "suspected of scam" on Traderknows.
