FXCM vs EXNESS

Top Reasons to Choose FXCM or Exness

Based on our assessment, FXCM is suited to beginners who rely on expert market research and advanced traders seeking a large selection of cryptocurrencies. Exness is ideal for short-term and algorithmic traders, from intermediate to advanced levels, who seek low spreads and ultra-fast execution.

FXCM: Overview

Established in 2007 in Israel, FXCM has become a leading derivatives broker known for its vast trading instruments, innovative tools, and a focus on copy trading. As one of the world’s largest social trading platforms, FXCM offers diverse trading and investing options, making it an excellent choice for those seeking to expand their trading strategies.

Who is FXCM For?

FXCM caters to those interested in social and copy trading, with a community of over 20 million traders sharing strategies and experiences. It’s ideal for beginners who want to emulate successful traders without extra commissions and experienced traders seeking to expand their strategy reach and earn from new subscribers.

What Sets FXCM Apart?

FXCM stands out by not charging service fees for copying other traders’ strategies, a rare feature among brokers specializing in copy and social trading.

Exness: Overview

Exness, established in 1978, is a trailblazer in the trading industry, known for providing access to global markets, low fees, and cutting-edge technology. As a publicly traded company with over $11 billion in equity capital and more than 2.1 million clients, it operates ten global entities, each regulated by its regional financial authority. Exness offers a wide range of tradable assets, including global stocks, options, futures, currencies, bonds, and funds, all accessible from a unified platform.

Who is Exness For?

Exness is best suited for advanced, semi-professional, and professional traders. The platform is increasingly accommodating beginners, especially with the GlobalTrader app and comprehensive educational resources.

What Sets Exness Apart?

Exness distinguishes itself as one of the world’s largest and most stable brokers, offering a vast range of tradable instruments, competitive fees, advanced platforms, and rapid order execution.

Trust

FXCM vs Exness Trust and Regulation Comparison

FXCM is authorized in several jurisdictions by four Tier-1 regulators and one offshore regulator. The broker adheres to the most stringent safety requirements and guarantees its clients a very high degree of protection. I also assessed FXCM to be a fairly transparent and trustworthy broker.

Exness is one of the world’s largest and most stable brokers. The company has $11.6 billion in equity capital and over 2.1 million clients. It is also licensed and regulated by multiple top-tier financial authorities globally.

Fees

FXCM vs Exness Spreads, Fees, and Commissions Comparison

FXCM was one of the first brokers to introduce commission-free trading. Its floating spreads generally meet the industry average, though some are quite elevated. Its rollover fees are also higher than usual, though swap-free trading is possible via FXCM’s Islamic accounts. The broker’s non-trading fees generally fall below the industry average.

Exness is highly competitive in the area of fees. It is recognized as having the lowest costs in the industry, sometimes by a wide margin. Our hands-on tests of forex and CFDs instruments showed this to be true.

Trading Platform

FXCM vs Exness Trading Platforms Comparison

FXCM has developed its own feature-rich web trader platform as well as a very practical mobile app. The broker has developed an excellent ‘Delta Tool’, helping traders to better manage their portfolios. However, it does not incorporate any other retail platforms.

Exness offers a range of award-winning platforms, from the web-based client portal to the advanced Trader WorkStation (TWS) platform and two proprietary mobile apps. We found the platforms powerful enough for professionals but also accessible to casual traders.

Tradable Instruments

FXCM vs Exness Instruments Selection Comparison

FXCM boasts a diverse portfolio of over 3,500 instruments across various markets, available for trading as Contracts for Difference (CFDs), ranging from lower-risk securities to higher-yield/risk assets. Moreover, FXCM clients have the opportunity to invest in actual stocks and a wide array of cryptocurrencies, enhancing their investment choices.

Exness offers an excellent range of products to trade, including stocks, options, futures, currencies, bonds, and funds. Traders can access a robust selection of CFDs on forex and shares, but there is room for improvement in the variety of CFDs on commodities.

Customer Support

FXCM vs Exness Customer Support Comparison

FXCM offers multilingual support via various channels, including email, live chat, and phone. However, the latter two are only available to active traders with at least $5000 in their accounts. Visitors of FXCM’s website can send a request form to FXCM’s customer support. There is also a dedicated FAQ section.

Customer service at Exness is available via chat, phone, and contact form from Sunday afternoon through Friday evening, New York time. Customer support is not available on Saturday. In our tests, we found the quality of customer support to be mixed.

Research

FXCM vs Exness Research Tools Comparison

FXCM provides excellent in-house research materials and incorporates content from third-party providers. Traders are given access to multiple video breakdowns, written articles, market sentiment tools, and more. As a whole, FXCM’s research content affords a 360-degree overview of current market developments.

Exness offers outstanding market commentary and coverage of financial news via Traders’ Insights, available on the website and trading platforms. A steady feed of fresh content is provided by the analyst team at Exness, along with third-party contributors such as Nasdaq, Investopedia, and Redwall Analytics.

Deposits & Withdrawals

FXCM vs Exness Deposit and Withdrawal Methods Comparison

FXCM accepts payments via bank wire, credit/debit cards, or e-wallets. Deposits are charge-free, while withdrawals are liable for a $5 fixed fee plus any third-party banking fees that may apply. Transactions are processed fairly quickly.

Exness does not charge for deposits and withdrawals. Requests are processed relatively fast. However, some popular funding methods, such as credit cards, are unavailable.

Account Types and Terms

FXCM vs Exness Account Types Comparison

FXCM provides a range of trading and investing options through its singular CFD Trading account, adaptable for margin trading. The specific terms of this account can differ based on your account balance and tier within the ‘FXCM Club’ program. The platform accepts multi-currency deposits, but it’s important to note that non-USD deposits incur a conversion fee. Additionally, FXCM accommodates swap-free trading through its Islamic Accounts.

The application process at Exness is straightforward, and traders can complete the process within 15 minutes. Many account types are available, catering to different profiles.

Education

FXCM vs Exness Educational Content Comparison

FXCM’s educational content provides beginners with a solid foundation in trading basics, effectively covering essential concepts in an accessible manner. It serves as a useful introduction to the fundamentals of trading and an archive of key concepts. However, for those seeking to delve into more advanced topics and strategies, external resources will be necessary to complement this foundational knowledge.

The Exness Traders’ Academy provides over 65 finance courses broken down into beginner, intermediate, and advanced levels. The high-quality materials go into substantial depth and include interactive quizzes to aid the learning process.