Singapore Dollar Forex Trading Accounts
Exness Review
Exness has grown rapidly in recent years with over 800,000 active traders in 2024. The broker is multi-regulated and offers multilingual 24/7 customer support to South Koreans. South Koreans can choose from 7 flexible account types.
- Candice Barnes
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawals
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 13348 KRW
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MT4, MT5, WebTerminal, Exness Terminal
Crypto
Yes
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Having spent a considerable amount of time in the forex industry, we’ve dealt with several brokers; nevertheless, they have been the only ones to captivate us and keep it.
The broker began operations in Russia in 2008 and has grown internationally and earned a reputation as a reliable and forward-thinking broker.
We believe that the broker has exceeded all expectations for our South Korean friends. They have tailored their services to fit the specific needs of the local market, which they have a thorough grasp of.
This includes specialized multilingual customer support and attractive spreads on popular currency combinations such as major, minor, and exotic pairs. In addition, they have worked with regional payment processors to streamline financial transactions.
Although there are some issues, The broker is a broker worth considering due to its dedication to openness, variety of account options, and concentration on the South Korean market. They’ve gained our respect thus far, and we’ll keep an eye on how they do in the future.
How does Exness promote responsible trading?
The broker encourages responsible trading by offering tools such as negative balance protection and establishing leverage limits depending on the trader’s expertise.
Can South Korean traders access Exness services via mobile devices?
Yes, South Korean traders can use the Trader mobile app to manage their transactions and monitor markets while on the go.
Exness at a Glance
| 📊 Year Founded | 2008 |
| 🏛 Local Market Regulators in South Korea | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA |
| 🌎 Ease of Use Rating | 5/5 |
| 💻 Bonuses | No |
| 📞 South Korean -based customer support? | 24/7 |
| 📱 Trading Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness App |
| 🛍 Account Types | Standard, Standard Cent, Raw Spread, Zero, Pro, Social Standard, Social Pro, Demo, Islamic |
| ✔️ Base Currencies | USC, EUC, GBC, CHC, AUC, CAC, AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR |
| 📈 Maximum Leverage | Unlimited |
| 📊 Starting spread | From 0.0 pips EUR |
| 📊 Currency Pairs | 100+ |
| 💳 Minimum Deposit (KRW) | 136,000 KRW ($10) |
| 💻 Languages supported on the Website | English, French, Indonesian, Portuguese, Spanish, Vietnamese, Arabic, Thai, Chinese (Simplified), Japanese, Korean, Urdu, Bengali, Hindi, etc. |
| ⏰ Fees and Commissions | Fees and Commissions Spreads from 0.0 pips, commissions from $0.1 |
| ✔️ Regional Restrictions | Banned Countries 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, US Virgin Islands, and the United States Minor Outlying Islands, Canada, Curaçao, Cuba, Sint Maarten, Falkland Islands, Uruguay, Australia, New Zealand, Vanuatu, North Korea, Malaysia, Singapore, Aland Islands, Andorra, Austria, Belarus, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Italy, Ireland, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Norway, Netherlands, Poland, Portugal, Romania, Russia, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, Vatican City, Seychelles, Sudan, South Sudan, Réunion, Iraq, Iran, Israel, Syria, Yemen, Palestinian Territory |
| 💻 Tradable Assets | Forex, Commodities, Stocks, Indices, Cryptocurrencies |
| ☪️ Islamic Account | Yes |
| ✔️ Affiliate Program | Yes |
| 📊Scalping | Yes |
| 📈Hedging | Yes |
| 💻 Inactivity Fee | No |
| 👉 Open Account | 👉Open Account |
Regulation and Safety of Funds
Regulation in South Korea
The broker is not regulated by South Korea’s Financial Services Commission (FSC). However, their global regulations are listed in the table below.
Global Regulations
| 📱Registered Entity | 🌎Country of Registration | 🔎Regulatory Entity | 📊Tier | 💳License Number/Ref |
| Nymstar Limited | Seychelles | FSA | 3 | SD025 |
| Exness B.V. | Saint Maarten | CBCS | 3 | 0003LSI |
| Exness VG Limited | British Virgin Islands | FSC BVI | 3 | SIBA/L/20/1133 |
| Tortelo Limited | Mauritius | FSC | 3 | GB20025294 |
| Vlerizo (Pty) Ltd | South Africa | FSCA | 2 | FSP 51024 |
| Exness (CY) Ltd | Cyprus | CySEC | 2 | 178/12 |
| Exness (UK) Ltd | United Kingdom | FCA | 1 | FSR 730729 |
| Tadenex Limited | Kenya | CMA | 2 | 162 |
Protection of Client Funds
| 🔎Security Measure | 📱Information |
| Segregated Accounts | Yes |
| Compensation Fund Member | Yes, Financial Commission |
| Compensation Amount | Compensation Amount €20,000 per client |
| SSL Certificate | Yes |
| 2FA (Where Applicable) | Yes, Exness App |
| Privacy Policy in Place | Yes |
| Risk Warning Provided | Yes |
| Negative Balance Protection | Yes |
| Guaranteed Stop-Loss Orders | Yes, above 1.2 pips |
How does Exness protect the security of South Korean traders’ funds?
The broker safeguards traders’ funds by keeping them in separate accounts, which are kept away from their operational funds.
Does Exness have a policy against money laundering?
Yes. The broker enforces stringent anti-money laundering measures to prevent financial crimes and maintain the security of all transactions.
Awards and Recognition
The broker has won the following most recent awards:
- At the iFX EXPO Dubai 2024, which took place from January 16th to 18th, they were named the Most Trusted Broker MEA 2024. This award, given by Finance Magnates and Forex Factory, shows that the broker is known for being reliable and trustworthy in the Middle East and Africa.
- The broker won the Best IB/Affiliate Program MEA 2024 award at the same event. This honor, which Forex Factory also mentioned, shows how committed Exness is to partner networks and good ad management.
- At the UF Awards LATAM 2024, which took place during the iFX EXPO LATAM in Mexico City, Exness won the award for Best Trading Conditions 2024. This award, given by Finance Magnates and DailyForex, shows that Exness is committed to providing excellent trading conditions, such as competitive prices and fast delivery.
Exness Account Types and Features
| 💻 Live Account | 📉 Minimum Dep. | 👉 Open Account | 📊 Leverage | 💰 Commissions |
| ➡️ Standard | 136,000 KRW ($10) | 👉Open Account | Unlimited | None |
| ➡️ Standard Cent | 136,000 KRW ($10) | 👉Open Account | Unlimited | None |
| ➡️ Raw Spread | 680,000 KRW ($500) | 👉Open Account | Unlimited | $3.5 |
| ➡️Zero | 680,000 KRW ($500) | 👉Open Account | Unlimited | $0.1 |
| ➡️Pro | 680,000 KRW ($500) | 👉Open Account | Unlimited | None |
| ➡️Social Standard | 680,000 KRW ($500) | 👉Open Account | 1:200 | None |
| ➡️Social Pro | 2.7 million KRW ($2,000) | 👉Open Account | 1:200 | None |
Standard Account
The Standard Account is your gateway to the exciting world of forex trading. It is designed to be easily accessible without any minimum deposit required based on your chosen payment method.
Furthermore, the Standard Account offers various markets such as major and minor currency pairs, exotic pairs, energies, crypto CFDs, stocks, and indices. Excess spreads start from 0.3 pips on this account, and there are no hidden commissions, ensuring transparency in pricing.
Raw Spread Account
If you’re looking for a trading experience focused solely on trading, the Raw Spread Account is perfect for you. It offers direct access to market prices with spreads as low as 0 pips.
Nevertheless, there is a fee of $3.5 per lot per side for these tight spreads. This account is ideal for experienced South Korean investors who are comfortable paying commissions and looking to benefit from small market movements.
Zero Account
The Zero Account is designed for experienced traders, providing 0.0 pips spreads on 30 leading instruments.
Perfect for frequent traders who want to keep their trading costs to a minimum. Although there is a commission of $0.1 per lot per side, it is still a viable choice for active South Korean traders due to its competitive nature.
Pro Account
The Pro Account allows you to select floating or fixed spreads, depending on your preferred trading style and current market conditions.
It offers versatility with access to all markets and an affordable 680,000 KRW ($500) minimum deposit requirement. Commissions can be adjusted based on the instrument, allowing you to tailor it to your specific trading requirements.
Social Standard and Pro Accounts
If you’re looking for a more hands-off approach or are just starting in trading, The broker has you covered with their Social Trading Accounts: Social Standard and Social Pro.
By utilizing these accounts, you have the opportunity to effortlessly replicate the trades of accomplished traders, placing your trust in the hands of seasoned professionals.
The Social Standard account has a 680,000 KRW minimum deposit requirement, whereas the Social Pro account requires 2.7 million KRW. These accounts offer a great chance for South Koreans to gain insights from others and potentially benefit from their knowledge.
Demo Account
The demo trading account is a great way for South Korean traders to improve their trading skills without risking real money. In a virtual setting that reflects actual market conditions, this account serves as a practice field for traders to test their tactics and learn about trading tools.
When South Korean traders sign up, they are given access to a demo account on the MT5 platform with $10,000 in virtual money.
While it’s virtual funds, trading can be done just like with real funds, but without the financial risks. South Koreans should remember that the demo account can be used for all account types except the Standard Cent.
South Koreans will find it easy to manage their virtual funds. Through the Personal Area, they can easily change their virtual balance and keep improving their trading strategies.
MetaTrader 4, MetaTrader 5, MetaTrader WebTerminal, and Terminal are just some of the systems the demo account can use.
The MetaTrader mobile app and the Exness Trade app can both be used with the demo account, making trading on the go easy for those who prefer.
South Koreans can access the demo account by going to the “Trading” tab on the website and finding the “Demo Account” area. They can find all the information and help they need here to sign up and start demo trading.
Islamic Account
The broker provides an Islamic Account option specifically designed for traders who wish to adhere to Sharia law in their trading activities.
This account type ensures that no swap or rollover interest is charged on overnight positions per Islamic principles. Traders can participate in forex trading while staying true to their religious beliefs with the Islamic Account.
The Islamic Account can be accessed through various account types, including Standard, Raw Spread, Zero, and Pro accounts.
Traders have the freedom to choose an account that aligns with their trading preferences and respects Islamic principles.
If South Korean traders are interested in the Islamic Account, they can easily sign up for an account and request the swap-free option after completing the registration process. After approval, the account is modified to comply with Islamic Account conditions.
However, we urge South Korean traders to thoroughly examine the specific terms and conditions of the Islamic Account, as they could vary from standard account options in terms of commissions or other operational aspects.
Does Exness provide Islamic accounts for South Korean traders?
Yes, The broker provides Islamic swap-free accounts for traders who need accounts that adhere to Sharia law.
What leverage can South Korean traders expect from Exness?
The broker allows South Korean traders to leverage up to 1:Unlimited, depending on their account type and equity.
How to open an Exness Account – Step-by-Step Guide
Exness offers South Koreans an easy registration process. Here are the steps to follow to register an account to start trading:
Step 1: “Register”
Visit the homepage and select the “Trading” tab in the top menu.
Step 2: Full in Registration
- To examine the terms of trading for accounts, select “Standard Accounts,” “Professional Accounts,” or “Social Trading Accounts.”
- Choose an account based on features, spreads, and other information that fits your trading goals, styles, and risk tolerance.
- Click the “Register” banner below to the selected account type after reviewing the available options.
- After that, you’ll be sent to the signup page. Enter your email address and the country you reside in (South Korea).
- Create a strong password that satisfies Exness’s requirements, including both capital and lowercase characters as well as digits.
- To verify that you are not a citizen or resident of the United States, check the appropriate box.
- The broker will email you to verify the address you entered in the initial registration stages. To verify your email address, check your inbox and click the verification link.
- Open the website, log in, and go to the account verification page.
- Provide your contact details, such as your phone number, birth date, and full name.
- Upload the necessary identity papers, such as a copy of your national ID card or passport, along with a utility bill or bank statement as evidence of residency.
- Wait for the assessment and approval of your documents. Usually, this procedure takes one to two business days.
- Go to the deposit area of your account after logging in and confirming your identification.
- To finish the deposit procedure, select your chosen payment method (such as a credit card, bank transfer, e-wallet, or cryptocurrency) and adhere to the on-screen directions.
- Ensure you have the required minimum deposit for the selected account type.
- You can begin trading as soon as you fund your account.
What is the initial step for South Korean traders in opening an account with Exness?
South Korean traders begin by going to the website and clicking the ‘Register’ button to start the account registration process.
What security measures does Exness implement throughout the account registration process for South Korean traders?
During registration, The broker uses SSL encryption to protect personal and financial information.
Broker Comparison
| 🔑Broker | 🥉 Exness | 🥈HFM | 🥇AvaTrade |
| 📈Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA | FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| 📉Trading Platform | MetaTrader 4 MetaTrader 5 Exness App Exness Terminal | MetaTrader 4 MetaTrader 5 HFM App | AvaTrade WebTrader AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 💵Withdrawal Fee | No | No | No |
| 🆓 Demo Account | Yes | Yes | Yes |
| ⬇️Min Deposit | 136,000 KRW ($10) | 0 KRW ($0) | 133514 KRW ($100) |
| ✳️Leverage | Unlimited | 1:2000 | 1:30 (Retail) 1:400 (Pro) |
| 🔢Spread | Variable, from 0.0 pips | 0.0 pips | Fixed, from 0.9 pips |
| 💴Commissions | From $0.1 per side, per lot | $6 per round turn | None |
| ⛔Margin Call/Stop-Out | 60%/0% | 50%/20% | 25% – 50% (M) 10% (S/O) |
| 📝Order Execution | Market | Market | Instant |
| 💰No-Deposit Bonus | No | No | No |
| 🪙Cent Accounts | Yes | No | No |
| 📊Account Types | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account Social Standard Account Social Pro Account | Cent Account Premium Account Zero Account Pro Account Pro Plus Account | Retail Live Account Professional Account Option |
| 🖋️FSC Regulation | None | None | None |
| ➡️KRW Deposits | Yes | None | None |
| 💷KRW Account | Yes | None | None |
| 👥Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 💳Retail Investor Accounts | 7 | 5 | 1 |
| ☪️Islamic Account | Yes | Yes | Yes |
| 📌Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 pips |
| 📍Maximum Trade Size | Unlimited | 500 lots | Unlimited |
| ⏱️Minimum Withdrawal Time | 24 hours | 10 Minutes | 24 to 48 Hours |
| ⏰Maximum Estimated Withdrawal Time | 3 days | 10 business days | Up to 10 days |
| 💶Instant Deposits and Instant Withdrawals | No | No | No |
| 👉 Open Account | 👉Open Account | 👉Open Account | 👉Open Account |
Exness Trading Platforms
We’ve explored each of Exness’ robust trading platforms to give South Koreans an idea of what they can expect. Keep reading to discover the features of each platform and how it can benefit South Koreans.
Trader App
For traders who are always on the go, The broker Trader provides a convenient app that is both easy to use and packed with strong capabilities. It works with both Apple and Android products.
The unique selling point is the ability for traders in South Korea to use their mobile devices to access a large range of technical indicators and a variety of drawing tools through the connection with TradingView charts.
During rapid market fluctuations, we noticed that the app’s one-click trading and speedy order execution come in very handy.
Additionally, South Koreans who regularly follow the market’s daily swings will find its market sentiment indicators useful because they give real-time insights into trading patterns.
Social Trading
South Korean traders now have a new tool at their disposal— Social Trading—to tap into the knowledge and experience of seasoned traders. If you’re a newbie or just want a more hands-off approach, this software lets you mimic the methods of successful traders.
Detailed performance metrics and risk assessments for each strategy provider were readily available on the site, which we considered to be user-friendly.
By implementing a variety of trading methods, South Korean traders may spread their risk and increase their chances of a positive return. Users can also monitor their investments and make necessary modifications thanks to the platform’s clear results and real-time updates.
We believe that South Korean users are more likely to collaborate and share information because of the platform’s social features, which create a feeling of community.
MetaTrader 4
We learned a lot about MetaTrader 4’s South Korean market-specific features from our experience. We could tailor our trading environment to our liking using the platform’s configuration tools, including automated trading scripts, which are common among tech-savvy Korean traders.
Our transactions are safe in an area that places a premium on digital security, thanks to the robust security measures that put our minds at ease. For those who prefer trading in familiar markets, the availability of emerging markets and currency pairs further added to its attractiveness.
MetaTrader 5
Following its predecessor’s footsteps, MetaTrader 5 (MT5) provides traders with even more powerful tools to meet their complex trading requirements.
Important for South Korean traders keeping tabs on world economic events, the platform offers a broader selection of timeframes, sophisticated charting capabilities, and an integrated Economic Calendar for fundamental research.
In addition, MT5 has hedging capabilities, which we found useful for complicated trading methods as they enable traders to handle numerous positions on the same instrument.
With features like algorithmic trading and MetaEditor’s indicator development capabilities, we believe that MT5 is a powerful platform that South Korean investors of all skill levels may benefit from.
Web Terminal
There is no need to download or install anything when you use the Web Terminal for a safe and hassle-free online trading experience.
Thanks to its HTML5 construction, this platform is compatible with every device connected to the internet and guarantees quick page loads and robust security.
In particular, we appreciated the flexible charting choices and the ability to integrate with TradingView throughout our testing.
The software allows South Koreans to instantly execute transactions and track the success of their portfolios in real time. Its adaptability and user-friendliness make it a top pick among South Korean traders who favor web-based trading.
Does Exness offer platform tutorials for South Korean traders?
Yes, The broker provides detailed training and guidelines on how to use their trading platforms, both directly on their website and through the Exness Academy.
Can South Korean traders personalize their trading environment on the Exness platforms?
Yes. South Korean traders can tailor their trading environment to their specific trading styles and preferences, including charts, indicators, and even the interface layout.
Range of Markets
The broker range of markets allows South Koreans to diversify their portfolios. South Koreans can trade various financial instruments across account types. In addition, they offer all instruments across all trading platforms, giving traders equal access to trading opportunities.
| ✴️Instrument | ✅Number of Assets Offered | 📊Max Leverage Offered |
| Forex | 100 | Equity 0 – 999: Unlimited 0 – 4,999: 1:2000 5,000 – 29,999: 1:1000 30,000+: 1:500 |
| Precious Metals | 4 | Equity 0 – 999: Unlimited 0 – 4,999: 1:2000 5,000 – 29,999: 1:1000 30,000+: 1:500 |
| Indices | 11 | 1:400 (US30, US50, USTEC) 1:200 All other Indices |
| Stocks | 100+ | 1:20 |
| Cryptocurrency | 14 | 1:25 |
| Energies | 2 | 1:200 |
Leverage and Margin
The broker offers a range of adjustable leverage options that are appropriate for both risk-averse and risk-taking traders, as we discovered when we looked into their conditions.
They provide leverage up to 1:unlimited when dealing with key currency pairings, enabling you to manage a sizable position with very little cash. But, it’s important to realize that using large leverage can greatly increase earnings and losses, so you should proceed cautiously.
The broker uses a dynamic margin system that modifies based on the particular instrument being traded and the equity in your account.
This implies that margin needs can change depending on your trading activity and the market’s volatility. This flexibility is advantageous, in our opinion, as it helps traders to control their risk exposure.
Emphasizing that Exness has a 60% margin call and a 0% stop-out threshold is crucial.
This indicates that you will receive a margin call and be prompted to add more money or liquidate some investments if your account equity falls below 60% of the necessary margin. To stop more losses, your trades will automatically close if your equity drops to zero.
Can South Koreans trade commodities on Exness?
Yes, South Korean traders can trade various commodities, including oil, gold, and silver.
What tools does Exness offer for market analysis to South Korean traders?
The broker offers a variety of analytical tools, including advanced charting, technical indicators, and market insights, to assist South Korean traders in making informed decisions.
Fees
The excess fee structure is unique and depends on the trading account that South Koreans use. Here’s what we found when we evaluated trading and non-trading fees.
Spreads
The broker caters to the demands of South Korean traders by providing a range of account kinds with varying characteristics. With spreads beginning at 0.3 pips, the Standard and Standard Cent Accounts are suitable for traders to reduce trading costs significantly.
In comparison, the Raw Spread Account has commission costs but offers extremely cheap spreads starting at 0.0 pips. The Zero Account also provides spreads starting at 0.0 pips for traders who value narrow spreads.
If commission-free accounts with tight spreads are more appealing to you, the Pro Account offers spreads as low as 0.1 pip.
By lowering trading costs, particularly for those using high-frequency or scalping tactics, these low spreads can be quite helpful to South Korean traders as they guarantee more seamless trade entry and exits.
Commissions
About commissions, maintains simplicity. Because there are no commission fees associated with the Standard, Standard Cent, and Pro Accounts, traders who want to minimize their trading expenses will find them appealing.
We found that while there is a commission fee of $350 on the Raw Spread account, its exceptionally low spreads make up for the charges. Furthermore, the fee for the Zero Account varies depending on the traded instrument and starts at $0.1 per lot.
Overall, because of the commission structure’s flexibility, South Korean traders can select an account that fits their budgetary needs and trading style.
We believe that for traders who execute many transactions, the Standard and Pro Accounts’ lack of fees can be quite helpful in reducing total trading expenses.
Overnight Fees
The broker’s swap fees are associated with positions maintained overnight and vary based on the kind of account and product. The broker benefits South Korean traders who follow Islamic finance principles or wish to avoid overnight fees by providing swap-free trading on a wide range of liquid assets.
We found that the swap prices are accessible and competitive for other accounts via the trading platforms.
Long-term strategy traders should take these costs into account since they have the potential to affect profitability over time.
Deposit and Withdrawal Fees
Unlike many other brokers, the broker doesn’t charge fees for deposits or withdrawals, which helps South Korean traders by enabling them to transfer money without incurring extra expenses. It is important to remember that third-party payment providers could charge additional costs.
Inactivity Fees
The lack of inactivity fees is another noteworthy advantage for traders based in South Korea.
This frees traders who don’t trade regularly because they won’t be penalized for keeping an account open without actively trading. Therefore, part-time traders or those who wait for certain market conditions before trading would find this feature especially useful.
Currency Conversion Fees
When trading assets quoted in a currency other than the account’s base currency, currency conversion costs are applicable.
This implies that for South Korean traders with accounts denominated in KRW, there is a conversion cost when trading assets offered in USD or other currencies,.
Are there any expenses associated with depositing funds into an Exness account for South Korean traders?
No. The broker does not impose any deposit fees, making it easier for South Korean traders to fund their accounts without incurring additional charges.
How does Exness manage currency conversion fees for South Korean traders?
Currency conversion costs occur if South Korean traders operate accounts in currencies other than their deposit currency, which is indicated on the platform. Fortunately, they offer KRW-denominated accounts to South Koreans.
Exness Deposits and Withdrawals
Exness provides South Koreans with a range of options that they can use to deposit and withdraw funds. Traders can also expect multi-currency payment methods that could save them on currency conversion fees.
Check the sections below to learn more about Exness’ deposits and withdrawals.
| 💳 Payment Method | 🌎 Country | 💴Currencies Accepted | ⏱️Processing Time |
| 💰Bank Cards | All | Various | Instant – 24 hours |
| 🪙Skrill | All | Various | Instant – 24 hours |
| 💳Neteller | All | Various | Instant – 24 hours |
| 💸Perfect Money | All | Various | 30 minutes – 24 hours |
| 💳SticPay | All | Multi-currency | Instant – 30 minutes |
| 🪙Cryptocurrency | All | USDT TRC20, USDC ERC20, USDT ERC20 | Instant – 1 day |
| 💰BinancePay | All | Multi-currency | Instant – 30 minutes |
Deposits
How to Deposit using Bank Wire Step by Step
✅To access the “Deposit Funds” area of your Exness account, log in.
✅Choose ‘Bank Wire’ as the deposit option.
✅Choose the currency you want to use for your deposit and enter the amount you want to deposit.
✅Choose “Yes” and complete the fields to keep the bank information for later use.
✅After you’ve reviewed the deposit details, click “Submit” to begin the deposit notification process.
✅To finish the actual deposit with your bank, follow the further steps that are provided.
How to Deposit using Credit or Debit Card Step by Step
✅To access the “Deposit Funds” area of your Exness account, log in.
✅Pick “Credit or Debit Card” as your deposit method.
✅Choose the deposit currency and enter the deposit amount.
✅Please provide your payment information along with any other necessary data.
✅Before you submit the deposit, make sure all the information is correct.
How to Deposit using Cryptocurrency Step by Step
✅In the “Deposit Funds” area, choose “Cryptocurrency” as the deposit method.
✅Choose your preferred coin to utilize for the deposit.
✅Before you confirm the transaction, enter the deposit amount and check the information before submitting.
How to Deposit using e-Wallets or Payment Gateways Step by Step
✅Under “Deposit Funds,” you can select your chosen e-wallet or payment provider.
✅When making a deposit, follow the steps given by your preferred e-wallet or payment channel.
Withdrawals
How to Withdraw using Bank Wire Step by Step
✅To access the “Withdraw Funds” feature, log in to your Exness account.
✅To withdraw funds, choose “Bank Wire” as the method.
✅Select the withdrawal currency and enter the withdrawal amount.
✅To process the withdrawal, provide your bank details.
✅Before you hit “Submit,” be sure you’ve reviewed the withdrawal information.
How to Withdraw using Credit or Debit Cards Step by Step
✅Find the “Withdraw Funds” option in your Exness account.
✅Select “Credit or Debit Cards” as your withdrawal method.
✅Choose the currency for the withdrawal and enter the amount you want to withdraw.
✅After you’ve reviewed the withdrawal information, click “Submit” to continue.
How to Withdraw using Cryptocurrency Step by Step
✅In the ‘Withdraw Funds’ section, choose ‘Cryptocurrency’ as your withdrawal method.
✅Choose the coin you wish to withdraw.
✅To complete the withdrawal, enter the desired amount and double-check all the information.
How to Withdraw using e-Wallets or Payment Gateways Step by Step
✅In the ‘Withdraw Funds’ section, choose your chosen e-wallet or payment gateway as the withdrawal method.
✅After you’ve decided on an e-wallet or payment gateway, to finish the withdrawal, follow the provided instructions carefully.
What is the minimum withdrawal amount for South Korean traders on Exness?
The minimum withdrawal amount at Exness can be as low as $1, depending on the payment method, allowing for easy access to funds.
Does Exness offer rapid withdrawal alternatives to South Korean traders?
Exness provides immediate withdrawals using specific e-wallets, allowing South Korean traders to retrieve their funds quickly and effectively.
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Official Site
Educational Resources
Exness also offers South Koreans the following additional tools and resources:
- Trading Central WebTV
- Education YouTube Channel
- Academy
- Articles
- Analytical Tools
- “Meet the Team”
- Currency Converter
- Help Center
What type of market analysis does Exness offer to South Korean traders?
The broker delivers both fundamental and technical research, allowing South Korean traders to grasp market patterns and price fluctuations efficiently.
What support does Exness provide to South Korean traders who use their educational resources?
The broker provides support using its customer care team, which can help South Korean traders navigate and make the most of the educational materials and tools provided.
Bonuses and Promotions
While Exness doesn’t have any active bonuses or promotions for South Koreans, several other benefits are offered, including a lucrative affiliate program with attractive rebates and various commission structures.
How to Register an Affiliate Account with Exness Step-by-Step
Step 1: “Partners”
To access the partnership page on the website, simply click on the “Partners” option in the top menu next to “Company.”
Step 2: “Introducing the Broker Program” and the “Affiliate Program.”
- Evaluate the information provided on this page to understand the various partnership types, commission structures, and benefits.
- Please navigate to the section that details the two primary partnership options: the “Introducing Broker Program” and the “Affiliate Program.”
- Carefully evaluate both programs to determine which aligns with your goals and preferences. The Introducing Broker Program offers a generous revenue share of up to 40% for every trader you refer. On the other hand, the Affiliate Program ensures fixed pay-outs of $1,850 for each client you successfully refer (they must register an account and fulfill other requirements before you qualify for the pay-out).
- After you’ve made your decision, simply click on the “Start now” button that can be found below the program description.
Step 3: Fill in the Registration
- Once the registration form loads, you can choose your country of residence (South Korea) from the drop-down menu.
- Please provide your email address and choose a strong password that meets the necessary criteria, such as a mix of uppercase and lowercase letters, numbers, and special characters, to ensure security.
- Indicate your non-US citizenship or residency status by selecting the appropriate box.
- Verify your email address by clicking on the link sent to the email you provided during registration.
- Log in to your affiliate account using the email and password you provided.
- Please ensure your profile is completed with accurate information, including your full name, date of birth, and contact details.
- Ensure that you provide the necessary identification documents, including a copy of your passport or national ID card and proof of address, such as a utility bill or bank statement.
- Be patient while reviews and approves your documents; this process usually takes 1-2 business days.
- Once your account is verified, you can access the affiliate dashboard and promote Exness. You’ll have access to various marketing materials, banners, and tracking links to help you get started.
- Familiarize yourself with the commission structure, payment methods, and reporting tools that are available from your affiliate dashboard.
- Stay informed about Exness’ promotions, contests, and any updates to the affiliate program by regularly checking your account and the Exness website.
Affiliate Programs
Features
Expert reviewers like us have looked at the affiliate program extensively, and we think it may be a great way for traders to make more money. We have two primary cooperation choices in this program: the Introducing Broker Program and the Affiliate Program.
Partners can share as much as 40% of Exness’s profits from the traders they bring in through the Introducing Broker Program. This bodes well for the prospects of substantial financial gain, particularly for individuals with an extensive network of traders.
If you’re looking for a more straightforward compensation plan, the Affiliate Program may be more to your liking.
Commissions from Exness can reach up to $1,850 per customer obtained, making it one of the most lucrative programs in the business. Because of this, it is especially attractive to traders who are familiar with digital marketing or spend a lot of time online.
Affiliates can use many promotional resources provided, including banner ads, landing pages, videos, GIFs, logos, and website widgets.
With these tools, South Korean partners can market Exness’ offerings with confidence and consistency, all while representing the company professionally.
Partners can easily monitor client transactions, examine payment history, and analyze their success using the program’s thorough, real-time data and reporting capabilities.
What are the Affiliate Program’s commission rates for South Korean traders?
The Affiliate Program provides excellent commission rates, with possible earnings of up to $1,850 per new account, depending on the client’s trading activity.
What are the ways to withdraw commissions earned by South Korean traders through the Affiliate Program?
South Korean traders can withdraw their commissions using a variety of methods, including bank transfers, e-wallets, and even cryptocurrencies, giving them greater freedom in retrieving their funds.
Customer Support
| 🔑Customer Support | 🥇Exness Customer Support |
| ⏰Operating Hours | 24/7 |
| 🔊Support Languages | Multilingual |
| 👥Email Address | [email protected] |
| ☎️Telephonic Support | ✅Yes |
| 🏆The overall quality of Exness Support | 5/5 |
How can South Korean traders contact customer service in Korea?
Korean-speaking South Korean traders can contact customer service through dedicated Korean language options in live chat. However, we urge traders to check the support hours on the website.
Can South Korean traders report problems or give feedback directly to Exness management?
Yes. South Korean traders can report problems or provide feedback through support channels, and there are procedures to escalate concerns to management if necessary.
Exness Social Responsibility
While evaluating Exness, we discovered the following information regarding its CSR initiatives and projects:
- The broker is dedicated to upholding ethical and compassionate values, greatly influencing its distinctive Corporate Social Responsibility (CSR) approach.
- CSR initiatives focus on education, emphasizing providing supplies to primary schools and scholarships. These efforts create long-term societal change.
- The broker strongly emphasizes environmental sustainability, actively working to reduce its ecological footprint and collaborating with NGOs to make a lasting positive impact on the environment.
- The broker has responded quickly to emergencies, providing substantial assistance during the COVID-19 pandemic, forest fires in Cyprus, and other global crises.
- We found that Exness has implemented more than 30 CSR initiatives, positively impacting 10 countries through activities such as environmental clean-ups, tree planting, and community support.
- Exness’s commitment to nurturing talent is evident through the 53 scholarships awarded in 5 countries as part of their educational support initiatives.
- The broker has significantly contributed to the environment, donating 4 fire trucks, 3 drones for fire prevention, and 14,000 liters of free drinkable water.
- Exness supports infrastructure projects, such as bridge construction in Vietnam, and assists indigenous communities, like the Orang Asli in Malaysia.
- The broker has demonstrated its commitment to global health and safety by providing 1.1M € for COVID-19 medical support through its CSR efforts.
- Exness’ social impact initiatives also encompass assistance for disabled individuals and visually impaired children, demonstrating a holistic approach to community aid
Pros & Cons
| ✅Pros | ❌Cons |
| Exness offers customer support in Korean via live chat | Korean live chat hours are limited and not offered 24/7 |
| Exness is multi-regulated by several entities, ensuring a safe trading environment | There are limited payment methods for South Korean deposits and withdrawals |
| South Korean traders can choose from flexible account types according to their trading styles | There are wide spreads on more exotic currency pairs |
| There are educational materials for South Korean traders | Exness does not offer South Korean CFDs or KRW currency pairs |
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Our Recommendations on Exness
We love that Exness offers South Koreans a KRW-denominated account and other customizable options. However, there are still some areas where Exness could pay special attention to improve its overall offer, including:
- Work with regional banks and payment processors to investigate potential market entrance points and simplify financial transactions.
- Create promotions and marketing initiatives that cater directly to the interests and preferences of South Korean traders.
- Increase transparency in regulatory compliance unique to South Korea. Providing clear information about how Exness complies with local legislation helps increase trust and confidence among South Korean traders.
- Spreads and fees should be reviewed and adjusted continuously to remain competitive in the South Korean market. Offering lower spreads and costs can attract new traders while retaining current ones.
Final Verdict
Our extensive evaluation shows that The broker is an excellent choice for South Korean traders searching for a trustworthy trading platform.
The broker’s commitment to regulatory standards is demonstrated by their licenses from reputable authorities such as the FCA, CySEC, and FSCA, which guarantee a secure trading environment.
The broker offers a wide variety of account types to accommodate traders at any skill level, providing them with flexibility and a range of options. We also found that Exness offers KRW-denominated accounts, which could save South Koreans on currency conversion fees.
The brokeroffers features such as Islamic accounts and swap-free trading, which cater to the specific requirements of Muslim traders. Traders can benefit from the powerful tools provided by MetaTrader platforms and Exness Terminal, enhancing their trading efficiency.
On the other hand, there is room for improvement regarding potential delays in the withdrawal process, limited deposit and withdrawal options, and the need for further expansion of educational resources.
However, despite these drawbacks, Exness emerges as a compelling choice for traders in South Korea. By addressing these concerns and prioritizing client satisfaction, they can establish itself as a top broker in the South Korean market.
Our Insight
From my research, EXNESS delivers good customer service and support. With different trading goals; it offers a variety of accounts that are tailored just for them. It makes it a trustworthy and appealing choice for traders around the globe since it’s very transparent and safe, and regulated by numerous financial authorities.
Frequently Asked Questions
Is Exness available to South Korean traders?
Yes, the broker provides services to South Korean traders. They have access to a wide range of financial products and trading platforms, and while not local, South Koreans can still trade global markets and diversify their portfolios.
Does Exness offer trading signals or analysis relevant to the Korean stock market?
No. The broker primarily targets global markets. While they provide comprehensive analytical tools and resources, their signals might not be localized to the Korean stock market.
Can South Korean traders use local payment methods?
Yes, they accept flexible local payment methods that can be used in South Korea, making deposits and withdrawals easier for traders.
Is Exness a decent option for South Korean forex trading beginners?
Yes, they provide a user-friendly interface, educational materials and tools, demo accounts, and more, making it ideal for newbies to learn and practice trading.
Does Exness have any local offices or representatives in South Korea?
No. they operate internationally but have no physical presence in South Korea. However, they offer online support and tools to Korean traders.
Exness User Comments and Reviews
Exness has collected its fair share of positive and negative user comments. A benefit of Exness is that the broker addresses each user’s comment across several reputable websites where these comments are posted. Here are the top few that we found that’ve been left recently: