Exness is one of the world’s leading forex brokers, with more than 10 years of experience in the field. However, recently there have been many rumors that Exness scam , Exness exchange collapsed, Exness was blocked… Are these rumors grounded? And should you choose to trade at Exness or not? Let’s find out about EX Trading through the following article!

Is Exness scam or a trustworthy broker?

Exness has a long history of operation

Established in 2008, Exness is headquartered in Cyprus. Since its inception, Exness has experienced robust growth and expanded its operations to numerous countries worldwide. Including some countries. According to statistics on Exness’ official website, as of March 2023, Exness has more than 500 thousand customers from many countries. With a total average monthly trading volume of over 3,000 billion USD since February this year.

Exness is granted a reputable operating license

Exness is one of the forex brokers licensed to operate by reputable regulatory agencies in the world. Include:

• Cyprus Securities and Exchange Commission (CySEC): This is the financial regulatory agency of the Republic of Cyprus. A member of the EU. CySEC is responsible for monitoring and controlling the activities of financial companies. This includes forex brokers. Exness was granted license number 178/12 by CySEC in 2012.
• Financial Conduct Authority (FCA): This is the UK’s financial regulatory agency. The FCA is responsible for protecting consumers and maintaining the transparency and stability of the financial system. Exness was granted license number 730729 by the FCA in 2016.
• Financial Sector Conduct Authority (FSCA): This is South Africa’s financial regulatory agency. FSCA is responsible for protecting consumers and maintaining the fairness and safety of the financial system. Exness was granted license number 51024 by FSCA in 2020.
• By being licensed to operate by reputable regulatory agencies, Exness has proven its professionalism, transparency, and reliability. Besides, Exness also complies with regulations on financial safety, deposit insurance, customer classification, and dispute resolution… of regulatory agencies.

The truth about Exness scam and its remarkable achievement numbers

Before considering the causes of the Exness scam rumor. Let’s look back at exness’s remarkable achievements throughout its operation:

• Withdrawal processing speed:

Exness is one of the forex brokers with the fastest withdrawal processing speed today. It only takes investors a few seconds to a few minutes. The exchange supports a variety of convenient withdrawal methods for investors. At the same time, no fees apply for withdrawal transactions.

• Reliability of data:

Exness was one of the first forex brokers to publish figures about its business activities on its official website. In addition, they are also audited by reputable auditing companies such as Deloitte and MAP Audit. These figures include total trading volume, number of new customers, customer account balance, amount withdrawn from the exchange… Thanks to this, customers can check the transparency and honesty of Exness.

• Service quality:

Exness provides customers with types of Exness accounts that suit each person’s needs and experience. This includes attractive trading conditions such as low spreads, high leverage, no commissions… In addition, Exness also supports customers to trade on many different platforms such as MT4, MT5, and WebTerminal.

With these remarkable achievement numbers, it can be said that Exness is not a scam exchange. This is a reputable and quality forex broker. However, why are there rumors about the Exness scam? EX Trading will analyze in the next content.

Causes of Exness rumors

There are many reasons that can lead to the emergence of Exness scam rumors.

The truth is that Exness is a scam because the Exness exchange is blocked in some countries

One of the reasons why many people doubt the legitimacy of Exness is that the Exness exchange is blocked in some countries. This is a problem not only with Exness but also with many other forex brokers. The main reason is that forex trading activities are not recognized and permitted by law in the host country. Therefore, internet service providers may block access to the websites of forex brokers, including Exness.

The Exness exchange being blocked can have many different reasons, depending on each specific case.

The provisions of the State

As mentioned above, forex trading activities are not recognized and permitted by law in some countries. Therefore, the State can request internet service providers to block access to the websites of forex exchanges, including Exness. This is a measure to protect the rights and safety of consumers. To avoid risks and legal disputes that may occur when trading at Exness gold.

Due to technical problems

There may be cases where Exness is blocked due to technical problems of internet service providers or Exness itself. This is a fairly common phenomenon and can happen to any website. When experiencing technical problems, the Exness website may not be displayed. Or not working properly, making it impossible for users to access or transact.

Competitors

Another possible reason why Exness exchange is blocked is due to the behavior of competitors. Because Exness is one of the world’s leading forex brokers. Therefore, competitors may use unfair methods to block access to Exness’s website. Or create false information to scare and confuse users.

From the above reasons, it can be seen that Exness being blocked is not due to Exness scam. The reason is that external factors are not related to the quality and reputation of Exness. Therefore, users should not be too worried or panicky when encountering this situation.

Exness maintenance – Exness cannot withdraw money

Another reason why many people doubt the legitimacy of Exness is Exness’s maintenance. Leading to Exness not being able to withdraw money. This situation is usually quite rare, but if it occurs, it can cause inconvenience and anxiety for users.

The main reason is that Exness needs to maintain the system to upgrade and improve service quality. At that time, trading and withdrawal activities may be interrupted or limited.

However, Exness maintenance – Exness cannot withdraw money is not due to Exness scam. Therefore, users should not be too confused when encountering this situation.

See more: Open Exness Account: Latest guide for new traders

Should you choose to trade at Exness or not?

This is quite an important question, as it relates to your decision about investing and making money from forex.

Advantages of becoming a trader of Exness exchange

Exness has many advantages that make many traders choose to trade on this exchange. These include the following advantages:

• Reputation and quality: As mentioned above, Exness is a reputable and quality forex broker, with more than 10 years of experience in the field. Exness is licensed to operate by reputable regulatory agencies around the world. The exchange always publishes and audits data on business activities. In addition, the exchange also offers attractive trading conditions and professional customer support services.
• Diversity and flexibility: Exness offers customers a variety of trading accounts to suit each person’s needs and experience. Includes Standard account for beginners and Pro account for experienced users. Exness also supports clients to trade on a variety of platforms, including MT4, MT5, and WebTerminal. In addition, Exness also allows customers to trade with many different types of products.
• Fast and convenient: Exness is one of the forex brokers with the fastest withdrawal processing speed, taking only a few seconds to a few minutes. The exchange offers a variety of withdrawal methods for investors. At the same time, there are no fees applied to withdrawal transactions. Exness also has a mobile application that allows customers to manage their accounts and trade anytime, anywhere.

Is it possible for the Exness exchange to collapse?

This is a question that many people are interested in because it concerns the safety and sustainability of the Exness exchange. Exness exchange collapse is possible, but very low. The reason is that Exness has a solid technical foundation, a high-security system, transparent financial management, and is supervised by reputable regulatory agencies.

Signs of fraud?

Although Exness is not a scam, you also need to be careful with fraudulent activities of third parties who may take advantage of Exness’s name to appropriate assets. There are a few signs of scams when trading forex.

Transfer money to strange accounts

This is a fairly common case of fraud. When third parties pretend to be Exness employees or partners. They will ask you to deposit money into their personal account for trading support, promotions, or problem-solving. You should remember that Exness never asks you to deposit money into anyone’s personal account. The platform only allows you to deposit funds into your trading account via official and secure methods.

Providing personal information

This is another common case of fraud. When third parties pretend to be Exness employees or partners. From there, they ask you to provide your personal information, such as phone number, email, password, and authentication code… Please note that Exness never asks you to provide your personal information via email. Unofficial and insecure channels. You should only provide your personal information when registering or verifying your account on the official Exness website.

Requests to download unfamiliar software or applications

This is a case of fraud that many investors often fall into. When third parties pretend to be Exness employees or partners. Next, they ask you to download the software. Or strange applications to get transaction support, receive promotions, or solve problems. You need to know that Exness never asks you to download strange software or applications, but only supports you to trade on official and safe platforms, such as MT4, MT5, WebTerminal, or its mobile application. Exness.

How to protect yourself against fraudulent activity

If you encounter fraudulent activities as above. You should decline all requests and immediately report them to Exness via customer support channels. Additionally, be careful with misleading information. Or negative about Exness on disreputable websites, forums, blogs, or social networks. You should check the origin and authenticity of this information. At the same time, don’t be influenced by Exness scam rumors.

Note some tips when trading Exness

Finally, EX Trading will share with you some tips when trading at Exness. Thereby, you can take full advantage of the advantages. At the same time, avoid disadvantages when trading forex.

Choose the appropriate account type

You should choose an account type that suits your needs and experience. Thereby, you can trade effectively and safely. You can refer to the comparison table of Exness account types for more details. If you are a beginner, you should choose the Standard account. The reason is that this type of account has pleasant trading conditions and does not have high risks. If you are highly experienced, you can choose a Pro account. Because this type of account has superior trading conditions. Thus, allowing you to apply advanced trading strategies.

Choose a convenient trading platform

You should choose the most convenient trading platform for yourself. To help you trade anytime, anywhere without interruption. You can refer to the Exness trading platforms comparison table for more details.

If you want to trade on your personal computer, you can choose MT4 or MT5. Because these two platforms have many features and tools to support transactions.

If you want to trade on a web browser, you can choose WebTerminal. Because this platform requires no installation and has a simple and easy-to-use interface. Finally, if you want to trade on your mobile phone, you can choose Exness’s mobile app. Since it is this application has a friendly interface and supports basic and advanced features.

Use the right strategy

You should use a suitable trading strategy when trading at Exness. Thereby you can make profits and minimize risks. You can refer to trading strategies from reliable sources on the internet, or from experienced traders.

In addition, you should also learn about factors that affect the forex market, such as news, events, trends, price fluctuations… You should also use tools and indicators to support trading. This includes order tables, economic calendars, charts, trendlines, Fibonacci, MACD… Besides, you should also manage capital and risks scientifically. By determining risk tolerance, leverage level, position size, entry point, take profit point, stop loss point…

See more: What is Exness: Overview Review of Platform for Newbies

Summary

So through the above article, EX Trading has helped you answer the question of whether Exness scam or not. Hopefully, you have had an overview and objective view of the Exness exchange. Thereby not being affected by Exness scam rumors. From there, it helps you have the safest and most optimal trading plan. If you still have any questions about Exness. You can contact Exness customer support through different channels.

FAQs:

Is Exness likely to collapse?

Whether or not Exness will collapse is a question that many people are interested in. Because it is related to the safety and sustainability of the Exness exchange. Exness exchange collapse is possible, but very low. The reason is that Exness has a solid technical foundation, a high-security system, and transparent financial management. At the same time, the exchange is monitored by reputable management agencies.

What should you do to avoid being scammed when trading on Exness?

If you encounter fraudulent activities on Exness. You should decline all requests and immediately report them to Exness via customer support channels. You should check the origin and authenticity of the information. At the same time, don’t be influenced by Exness scam rumors.

Why is Exness blocked from access in some countries?

Because forex transactions are not recognized and permitted by law in the host country. Therefore, the State can request internet service providers to block access to the websites of forex exchanges, including Exness. To avoid risks and legal disputes that may occur when trading forex.