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EXNESS anyone? 38 replies

EXNESS official representative 1,346 replies

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  • #2,161
  • Sep 5, 2016 10:17am Sep 5, 2016 10:17am
Quoting rockthepips
{quote} Why do you like NETELLER more than SKrill ? I find they have higher fees... but anyway they are part of the same company now! http://photoshar.in/NETELLER-vs-Skrill-fees Also good job on the withdrawals, I thought I was the most profitable trader here but you seem to be doing better
I agree, neteller charges are on higher side but their VIP service is unmatched. Â I am Gold VIp member now. I personally don't mind paying a little bit extra for quality service

I remember once i raised an issue with Skrill in past and i had to wait 13 days just to receive an initial response while in neteller they use to respond within hours. In addition i have an option for live chat in case of any urgency & loads of other benefits. This is the reason why i find neteller better. From cost point of view, skrill fees are cheaper
  • #2,162
  • Edited 2:02pm Sep 5, 2016 10:31am | Edited 2:02pm
Quoting EXNESS
It needs to be pointed out that the issue was indeed resolved within the given period. However, you were not informed of that within that time. On the other hand, the standart time for a reply in 'Feedback' is 5 business days. Therefore, the time of reply was not exceeded.
Hi Exness,

If you are clearly mentioning for 24-48 hours then do you still expect me to wait for 5 business days. I was wondering since last few days why this "3-5 business days" excuse was not yet put forth. Finally it's here.

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So, finally it seems you guys have decided for no compensation.

Well, i can't do anything at this point but i will make sure to gather all evidences which i have in my system not just for the current server issue but for past issues as well, put it all at one place & will make a detailed post very soon across all forums. I will try my best to expose Exness hypocrisy.

I am not expecting anything further but i hope you guys will atleast formally respond to my ticket by saying No Compensation, close the ticket and close my exness account. I am asking here since i didnt receive any response to my last ticket reply.


EXNESS HYPOCRICY

There might be very slight variation in the figures as i am doing almost 40 days back calculation based on the MT4 data but the outcome will remain same.

On 27-July my equity was $20,100 (approx) and i had 2 NZD/USD short positions left:

Lot 10 - Open 0.6993

Lot 2.5 - Open 0.7012



So, if i go by the MT4 chart values then on 27-July-2016, high reached at 0.7095. If i consider the open to high price then on 27-July, loss would have peaked at $12275 approx. (excluding swap charges). Here how it's done:

Attached Image


Lot 10 [Open 0.6993 - High 0.7095] = -102 Pips = -$10200 (10*102*10)

Lot 2.5 [Open 0.7012 - High 0.7095] = -83 Pips = -$2075 (2.5*83*10)


Total Loss = $10200+$2075 = -$12275

Free Margin available at peak price = $20100-$12275=$7766

When free margin fell below $10K then leverage should have automatically adjusted to "1:1000" (if i go by Exness words that the issue was indeed fixed on 27-July). While at the same time they are claiming that "leverage on July 27 was always at 1:600". These both statements itself are contradictory.

And the company wants me to believe the issue was indeed fixed on 27-July itself. Looks like compliance department was in hurry to issue no compensation statement while it needed more time to dig into this.

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More to come....
  • #2,163
  • Sep 5, 2016 10:39am Sep 5, 2016 10:39am
@Forexgain

In short the auto lowered your leverage and then closed your trades ? while you had equity available for the subscribed leverage settings?

Write a complaint to the regulator and to the finance revenue departments of the country in which exness is located.

Changing leverage without prior notice or client consent is a crime.
  • #2,164
  • Sep 5, 2016 10:55am Sep 5, 2016 10:55am
Quoting TradeWTUC
@Forexgain In short the auto lowered your leverage and then closed your trades ? while you had equity available for the subscribed leverage settings? Write a complaint to the regulator and to the finance revenue departments of the country in which exness is located. Changing leverage without prior notice or client consent is a crime.
Buddy, i can't take any action from here due to forex trading restrictions here in India that's why i mentioned "Well, i can't do anything at this point........".

Everything was going smooth with acceptable hiccups during last 6 years but when i withdrew around $60K during the month of July 2016 this leverage problem arose immediately thereafter. This type of leverage problem is the first time ever experienced by me since i am trading with them. Everything in respect of this issue has already been explained in previous replies. If there's anything left out i will make sure to include it with every possible evidences very soon.
  • #2,165
  • Sep 6, 2016 8:07am Sep 6, 2016 8:07am
Quoting Forexgain
{quote} Buddy, i can't take any action from here due to forex trading restrictions here in India that's why i mentioned "Well, i can't do anything at this point........". Everything was going smooth with acceptable hiccups during last 6 years but when i withdrew around $60K during the month of July 2016 this leverage problem arose immediately thereafter. This type of leverage problem is the first time ever experienced by me since i am trading with them. Everything in respect of this issue has already been explained in previous replies. If there's...
It would be crazy for me to even compare myself with you because your amount is just unbelievable large while mine is pretty tiny, but believe me in recent NFP, i was equally upset since not only i lost my initial capital but i was robbed of 100 USD profits, The worst point for me was customer service, as nearly 2 hours conversation led to them telling me to open ticket, if it's not in their hands to solve out anything then why the hell they wasted my 2 hours? wasn't it easy for them to tell me just to do what they told me after 2 hours?

I really have no expectations now, i am already trading with another broker where i am quite settled, but i am trying many other companies as well and Exness surely was amongst reliable ones but that was long time ago, it's since this Unlimited Leverage option that everything has went for toss.... I don't expect myself to get any justice, but still let see what happens....
  • #2,166
  • Sep 6, 2016 8:35am Sep 6, 2016 8:35am
Hello, Forexgain.

Thank you for the post.

Regarding the time frame, I would like to point out that the standard time for a reply in the 'Feedback' is up to 5 business days. The Customer support representative asked for 24-48 hours during which the IT would look into the issue. However, a reply should be expected within as much as 5 business days. In general, clients are responded to much faster.

Apart from it, I intend to pass your equity calculations to the Complaints department and will require to check them as soon as possible.

Other details pertaining to the matter will be highly appreciated.
  • #2,167
  • Sep 6, 2016 8:57am Sep 6, 2016 8:57am
Quoting Fedricks
{quote} It would be crazy for me to even compare myself with you because your amount is just unbelievable large while mine is pretty tiny, but believe me in recent NFP, i was equally upset since not only i lost my initial capital but i was robbed of 100 USD profits, The worst point for me was customer service, as nearly 2 hours conversation led to them telling me to open ticket, if it's not in their hands to solve out anything then why the hell they wasted my 2 hours? wasn't it easy for them to tell me just to do what they told me after 2 hours?...
Dear Fedricks,

I appreciate the fact that you are sharing your experience here.

As a matter of fact, the Customer support are always trying to understand first whether they can handle a particular request on their own or not. That is why it may take time.

If they see that other department help is needed, they will inform the client that the request will be passed to that department.

Furthermore, it is regretful that you had to wait on the day when you submitted your request. However, let me assure you that now it is being processed with priority.

The reply regarding your request is due soon.
  • #2,168
  • Sep 6, 2016 10:08am Sep 6, 2016 10:08am
Exness announces FCA license and launches plans to expand in Europe

Exness Europe Limited is pleased to announce that it has received regulatory approval from the Financial Conduct Authority (FCA), under Register number 730729.

Having now acquired its FCA license, Exness Europe Limited is expected to launch its UK operations by the end of 2016, propelling the Exness group’s global expansion plans into Europe.

Among many others, one of the key benefits of the license is that trading account holders of FCA regulated brokers are protected under the Financial Services Compensation Scheme (FSCS), which protects clients in certain events of insolvency.

Exness Europe Limited looks forward to building on Exness’ already-extensive client base, entering new regions and providing the opportunity to new clients to benefit from its superior customer service, pricing, and technology.

Read official press release: https://www.exness.com/news/article/...and_in_europe/
  • #2,169
  • Sep 6, 2016 10:18am Sep 6, 2016 10:18am
Quoting EXNESS
Exness announces FCA license and launches plans to expand in Europe Exness Europe Limited is pleased to announce that it has received regulatory approval from the Financial Conduct Authority (FCA), under Register number 730729. Having now acquired its FCA license, Exness Europe Limited is expected to launch its UK operations by the end of 2016, propelling the Exness groups global expansion plans into Europe. Among many others, one of the key benefits of the license is that trading account holders of FCA regulated brokers are protected under the...
Thanks for the info.
I prefer FCA (UK) regulated brokers.
Will again start trading with exness soon.
When the going gets tough , the tough get going
  • #2,170
  • Sep 6, 2016 11:16am Sep 6, 2016 11:16am
Quoting EXNESS
Exness announces FCA license and launches plans to expand in Europe Exness Europe Limited is pleased to announce that it has received regulatory approval from the Financial Conduct Authority (FCA), under Register number 730729. Having now acquired its FCA license, Exness Europe Limited is expected to launch its UK operations by the end of 2016, propelling the Exness groups global expansion plans into Europe. Among many others, one of the key benefits of the license is that trading account holders of FCA regulated brokers are protected under the...
Congratulations Exness. FCA regulated brokers are my preferred choice now. I will also consider moving back to Exness very soon.
  • #2,171
  • Sep 7, 2016 4:44am Sep 7, 2016 4:44am
Hello Exness

i have an account with you is it now under new fca regulation or should move to exness Europe Limited
  • #2,172
  • Sep 7, 2016 8:28am Sep 7, 2016 8:28am
Quoting MrZurba
Hello Exness i have an account with you is it now under new fca regulation or should move to exness Europe Limited
Hello, MrZubra.

Thank you for the question.

Existing accounts will remain under existing entities.

At the moment we have limited information as to what conditions will be in Exness Europe Limited regulated by FCA.

I will keep you updated as far as possible.
  • #2,173
  • Sep 7, 2016 8:46am Sep 7, 2016 8:46am
Quoting 4EverMaAT
So will existing CY/St V&G clients be able to migrate over to UK? Or will they have to open separate account/separate email address? Will the same deposit/withdraw options be available at Exness UK as is available for Exness CY / St V&G Which type of accounts will be available via Exness UK?
Hello, 4EverMaAT.

Thank you for the questions.

Existing company branches (Exness Limited and Exness (Cy) Ltd.) remain. Exness Europe Limited is a new entity.

We have quite limited information at the moment, but here are some Q&As that you may find useful:

1. When will we launch?
Currently we expect it to be before the end of 2016.

2. When did we obtain the licence?
We were authorised and regulated from September 1st, 2016.

3. Is there any expiry date for the licence?
No.

4. Will Exness Europe Limited have its own site?
Yes, it is currently being prepared.

5. What type of licences are there generally, and what type did we obtain?
There are many different licences. We have permission to provide regulated products and services. We are a 125k Euro Matched Principal Firm.

6. What payment methods will be available to use?
Bank card and wire transfer. There are plans to connect other payment methods.

7. What leverage will we allow?
Initially 1:200.

8. How will clients' money be protected?
Protection for clients money under the Financial Services Compensation Scheme (FSCS) meaning Payments are subject to a maximum payment to any eligible investor of GBP 75,000 (seventy-five thousand) in the case of any deposits held by the company on client's behalf with UK banks should that bank become insolvent, and GBP 50,000 (fifty thousand) in respect of investments in the event of the company becoming insolvent.

More details can be found here: https://register.fca.org.uk/ShPo_Fir...000003587sXAAQ.
  • #2,174
  • Sep 7, 2016 1:38pm Sep 7, 2016 1:38pm
Quoting EXNESS
{quote} Hello, 4EverMaAT. Thank you for the questions. Existing company branches (Exness Limited and Exness (Cy) Ltd.) remain. Exness Europe Limited is a new entity. We have quite limited information at the moment, but here are some Q&As that you may find useful: 1. When will we launch? Currently we expect it to be before the end of 2016. 2. When did we obtain the licence? We were authorised and regulated from September 1st, 2016. 3. Is there any expiry date for the licence? No. 4. Will Exness Europe Limited have its own site? Yes, it is currently...
So will it be possible to transfer all or partial balances that are currently in my CySEC regulated Exness accounts over and into the new FCA regulated Exness accounts???
  • #2,175
  • Edited 3:57pm Sep 7, 2016 1:40pm | Edited 3:57pm
Quoting LEXngton
{quote} So will it be possible to transfer all or partial balances that are currently in my CySEC regulated Exness accounts over and into the new FCA regulated Exness accounts???
Dear LEXngton,

thank you for the question.

I am afraid it will not be possible as transfers from an Exness (Cy) Ltd. trading account are only available inside one Member area.
  • #2,176
  • Sep 8, 2016 11:56am Sep 8, 2016 11:56am
Quoting dbeach777
Turns out it wasn't EXNESS at all, but rather I needed to figure out Moneybookers. The withdrawal worked just fine from their end. {quote}
Dear I am trading with Exness from last 4-5 years and so far no problem with Deposit or Withdraw, even you can deposit and withdraw on Saturday and Sunday, it is almost Instant, it just take 3-4 business days when you withdraw on your Bank Card or Bank wire
  • #2,177
  • Sep 12, 2016 5:42am Sep 12, 2016 5:42am
Quoting EXNESS
Hello, Forexgain. Thank you for the post. Regarding the time frame, I would like to point out that the standard time for a reply in the 'Feedback' is up to 5 business days. The Customer support representative asked for 24-48 hours during which the IT would look into the issue. However, a reply should be expected within as much as 5 business days. In general, clients are responded to much faster. Apart from it, I intend to pass your equity calculations to the Complaints department and will require to check them as soon as possible. Other details...
Trade affected due to leverage issue finally credited back to my account. Thank You.

Special thanks to Exness representative (in this forum) for his continued support through out this process.
  • #2,178
  • Sep 12, 2016 10:45am Sep 12, 2016 10:45am
is exness server3 down as of now?

cant seem to login
  • #2,179
  • Sep 12, 2016 11:57am Sep 12, 2016 11:57am
Quoting forextrader01
Are there traders here of this broker? I'm thinking to open an account with them, they offer 1000:1 leverage, automatic withdrawals, tight spreads, a lot of currencies, indexes, stocks, etc. I believe that is too good for being truth, are they a scam or a reliable broker?

Wow. Any broker offering that kind of leverage is probably a broker to be avoided. How does one trade with 1000:1 leverage during the draw phase which will be a feature of every trade taken. I guess the trader could ratchet down the number of lots they use, but that also restricts the upside potential as well. You don't have to take the 1000:1, but the idea that it would even be offered by a broker is rather extreme.
FXLogix - The Dawn of the Modern Era in Currency Trading
  • #2,180
  • Sep 13, 2016 12:35am Sep 13, 2016 12:35am
Quoting FxLogix
{quote} Wow. Any broker offering that kind of leverage is probably a broker to be avoided. How does one trade with 1000:1 leverage during the draw phase which will be a feature of every trade taken. I guess the trader could ratchet down the number of lots they use, but that also restricts the upside potential as well. You don't have to take the 1000:1, but the idea that it would even be offered by a broker is rather extreme.
Dear FxLogin,

thank you for the feedback.

I would like to point out that the value of leverage in Exness varies from 1:2 to 1:2000 at the moment. Clients can choose any according to what best suits their trading strategy.

Indeed, if you prefer to use lower leverage, you can always choose one.
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