When it comes to online trading, the legitimacy and security of trading platforms are the most important things for traders investing their capital and trust. If you recently came across Exness and are trying to determine if they’re a legit broker, you’ve come to the right place. This quick write-up will look at various aspects of the broker website, Exness, in hopes of providing you with a better understanding of the platform’s security measures, regulatory compliance, and user protection mechanisms.
Licensing and Regulation
All over their branding, it is clear that Exness prides itself on being a rigorously regulated entity. Overseen by several international bodies, this level of regulation ensures that Exness adheres to strict financial standards ad operational practices, all meant to safeguard trader interest. There is a laundry list of international financial laws Exness must hold themselves to.
Advanced Security Measures with Trader Confidence in Mind
As you can likely imagine, Exness employs a multitude of security measures to ensure that traders remain safe and secure on their platform. Whether you’re a small trader or someone dealing with over eight figures in capital, the results are the same, ensuring you matter the same as everyone else.
Account and Platform Security
A series of robust security measures keep user accounts protected and promote a safer trading environment. During the sign-up, traders can increase their account security by opting for two-factor authentication. This means that they will get an alert and require additional confirmation anytime they log into their account, keeping malicious actors at bay behind an additional, time-sensitive passcode. Similarly, Exness utilizes advanced encryption technologies while you are connected, keeping personal and financial information confidential from would-be-snoopers.
DDoS Protection
A denial of service (DDoS) attack is a nightmare for a broker and a trader. Essentially, a DDoS attack is when a malicious actor attempts to overwhelm the servers with requests, often through a bot network. Regardless of how it’s done, the result is the same — lag, downtime, and frustration.
However, thanks to Exness’ DDoS protection, they can provide near limitless uptime, giving traders continuous, uninterrupted access to the trading floor, even if an attack is going on. These DDoS protection measures are crucial in maintaining the reliability of the platform and prevent you from ever missing out on executing a trade, thereby answering the question of is Exness reliable.
Zero Trust Model
Looking beyond the browser and digital space, Exness utilizes what the industry likes to call a “Zero Trust” model. Essentially, Exness requires all devices on the network or accessing it to provide authentication beyond what you might normally encounter at other online companies. By restricting access based on real-time verifications and continuously monitoring the network, the entire platform is secure, like Fort Knox.
Bug Bounty Program
This one might not seem like much, but it’s fairly neat and an honorable mention. Exness operates a Bug Bounty program where they invite external security experts to come to probe their defenses, seeing if they can find a way in. This is a great way to see where your weaknesses lie and if your defenses actually work. There’s no sense building a wall if you never test to see if it will keep enemies out!
Segregated Accounts
As you can well imagine from what you’ve read so far, financial security is a top priority at Exness. This is made even more abundantly clear by the segregation of client funds from the company’s operational finances. A model like this ensures that trader funds are always available for withdrawal, irrespective of the broker’s financial situation. This means that there can never be a situation where “the bank took your money and ran,” like so many people feared before regulations.
Secure Withdrawals
Exness sets itself apart with an automatic withdrawal feature that processes transactions instantly, providing traders access to their funds even on weekends. This might not seem important when it comes to determining whether Exness is legitimate, but it does if you think about it. If Exness wants to survive among the sea of brokers, they need to stand out, and fast withdrawals, even after market close, is just one such way to prove that.
Negative Balance Protection
One common fear is that you may somehow end up owing the broker more money than you have in your account. This can rarely happen on its own, but with Negative Balance Protection, it’s even less of a worry. This feature from Exness ensures that you cannot lose more money than you have deposited.
Stop Out Protection
Another great feature that traders often love is Step Out Protection. We’ve all had it happen before. You heard a hot tip about forex reserves jumping to $622 billion, and you’ve secured a potentially profiting position. A price fluctuates just a little too much, and suddenly, your broker has liquidated your position, despite the fact that the price immediately recovered after and is doing better than ever before.
Exness’s Stop Out Protection is great for forex traders as it can prevent situations like that from ever happening. Essentially, they use an algorithm to add a certain number of virtual funds to your position, bolstering it and preventing the Stop Out.
So, Is Exness Legit?
Yes, it’s safe to say that Exness is legit. Looking at all of the legal frameworks they’re regulated by paired with the large number of security features they have (not to mention the quality of life and customer support ones, too), Exness is a great platform for anyone looking to trade.