Exness is one of the world’s most respected forex and CFDs brokers. The company started in 2008 and serves customers from several continents. However, there are several countries from which Exness does not accept clients. In this review, we will be looking at the countries in question and offer you some alternatives to Exness with great trading conditions.
Not sure if Exness supports traders from your country? Try opening an account, if this work, they welcome traders from your country
Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.
What Exness Has to Offer
We always have to look at a company’s regulatory status whenever we review them. Exness is regulated by the CySEC, the FCA, the FSA, the FSCA, and the FSC. This means that multiple regulators watch their every move to ensure they obey the law. Note that regulated brokers can also break the law. However, having numerous regulators like this is a sign that a company is willing to operate within set rules and regulations.
There are a variety of trading instruments clients can trade on Exness. Some markets they can trade instruments from include forex, metals, cryptocurrencies, energies, stocks, and indices. Note that most of these instruments are CFDs. CFD trading involves a lot of risks, and a lot of traders end up losing their funds. Make sure you understand the risks involved before investing.
Nonetheless, Exness offers some of the best trading conditions in the market. For example, the spreads can go as low as 0.6 pips for the EURUSD pair. Additionally, clients get access to some of the best trading platforms of 2022 in the world. Exness traders enjoy access to the Exness Trader on top of MetaTrader 4 and 5. This is very attractive for both novice and experienced traders.
Sadly, these impressive features are not available to traders worldwide. Exness does not accept clients from all countries. Here is a look at the countries from which Exness does not accept clients.
Exness Prohibited Countries
Exness does not accept nationals and residents of the USA, American Samoa, Baker Island, Guam, Howland Island, Kingman Reef, Marshall Islands, Northern Mariana Islands, Puerto Rico, Midway Islands, Wake Island, Palmyra Atoll, Jarvis Island, Johnston Atoll, Navassa Island, Martinique, Vatican City, and US Virgin Islands.
Additionally, Exness does not accept residents of:
- North America: Canada, Cuba
- South America: Uruguay
- Oceania: Australia, New Zealand, and Vanuatu
- Asia: North Korea, Malaysia, Russia
- Europe: Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Ireland, Latvia, Liechtenstein, Lithuania, Belarus, Luxembourg, Malta, Monaco, Norway, Netherlands, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom
- Africa: Seychelles, Sudan, South Sudan
- Middle East: Iraq, Iran, Syria, Yemen, Israel, and Palestinian Territory
- British Overseas Territories: Gibraltar
- Netherlands territories: Curaçao
If the country of your residence is not on this list it means you are in one of the countries that Exness supports. To be absolutely sure, It’s best to visit Exness directly to see if that’s the case. If opening a new account works, you are good to go.
Some Great Alternatives to Exness
Forex.com – (Alternative for European and US traders)
Forex.com is an excellent alternative to Exness. This company has a reputable track record and is regulated by several bodies. These include the CFTC and NFA in the US, the FCA in the UK, the IIROC in Canada, and the CySEC in Cyprus. Such heavy regulations are attractive to all kinds of traders. There are a variety of trading instruments available on Forex.com. Traders can invest in the forex, gold and silver, and futures and futures options markets. For forex traders, forex.com features over 80 different currency pairs available for trading.
Forex.com does not involve high trading fees. For example, the spreads on Forex.com can be as low as 1.0 pips for some major currency pairs on the Standard Account. A commission account is available for clients who want to trade with ultra-low spreads on Forex.com. Additionally, STP Pro and Corporate accounts are available to accommodate all kinds of traders.
Available on Forex.com is the MT4 platform. This is one of the best trading platforms in existence. Many experienced traders vouch for its versatility and fast execution. This is another feature that attracts clients to Forex.com. Fortunately, Forex.com is available globally. Forex.com accepts clients from all countries unless your local government outlaws online trading.
74–89% of retail investor accounts lose money.
OANDA (Alternative for US traders)
OANDA has the respect of a lot of traders in the market. The company has been in operation for over 25 years. OANDA operates under strict supervision from some of the best regulators in the world. The company is regulated by the CFTC, the NFA, the FCA, the IIROC, and the ASIC, among other regulators. Many traders will gladly trade with a broker under such strict regulations.
There are a variety of markets traders can invest in on OANDA. Over 70 different currency pairs, 11 different commodities, and 7 different indices are available for trading on OANDA. Additionally, clients can trade CFDs on metals and four different cryptocurrencies. This opportunity to diversify one’s portfolio is always attractive to all kinds of traders.
The typical spreads on OANDA can start from 1.0 pips on major currency pairs. As such, trading charges on OANDA are favourably low and industry-standard. Additionally, commission accounts are available for clients that want to trade with ultra-low spreads. The trading platforms on OANDA include the fxTrade mobile app and the MetaTrader 4 and MetaTrader 5 platforms. Fortunately enough, OANDA is available to clients from all over the world. The only restrictions apply to clients from countries that restrict the trading of available online markets.
Forex trading involves significant risk of loss and is not suitable for all investors.
IG is yet another forex and CFD broker that accepts clients from all over the world. The regulatory status of this company is not in question. It has regulations from several regulators, including the FCA, ASIC and BaFin. This regulation and the company’s long history in the market make it a top-tier forex and CFD broker in the world. IG gives clients access to trading instruments from a variety of markets. These include the forex, shares, indices, commodities, options, futures, and cryptocurrencies.
Forex traders on IG have access to over 80 currency pairs to trade. IG allows traders to trade throughout the week, including on weekends. The main trading platform on IG is the cutting-edge MetaTrader 4 platform. This is a popular platform with fast execution and charting tools. It is one of the best trading platforms in existence. Looking at the spreads on IG, we can say they are low compared to other brokers. For example, the average spread on major currency pairs can go as low as 0.6 pips. IG does not charge a commission on forex trading.
Our Final Thoughts on Exness Supported & Prohibited Countries
Exness is one of the best forex and CFDs brokers in the world. Sadly, there are many countries and jurisdictions that Exness does not accept clients from. Many people cannot enjoy the features that Exness has to offer. However, several alternatives to Exness are available to clients from all over the world. In this review, we looked at the countries that Exness restricts. We then provided a few alternative companies for people in these countries. If you cannot access Exness from your location, we hope the companies mentioned here meet your trading needs.
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