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247 Exness Forex Broker provides real users with 1 positive reviews, 2 neutral reviews and * exposure review!

247 Exness Broker Review

1.48

WikiFX monitor

Business

Influence E

License

FSA Suspicious Clone

247 Exness Review 3

Latest All(3) Positive(1) Neutral(2)
Positive

quite satisfied with their quick deposit and withdrawal, as well as excellent customer support

Hereme
2024-08-14
Neutral
Uncovering Shady Practices: 247 Exness's False FSA License Claim

I traded with 247 exness about a year back. Everything seemed fine at first, no major issues or anything. But then I found out something shady - they were claiming to have a license from the FSA, which turned out to be a big fat lie. Now, listen, there weren't any massive problems while I was using them, but knowing they weren't regulated made me super nervous.

Hugo Moreau
2024-07-09
Neutral
Copy Trading Conundrum: A Misguided Journey to 247 Exness

Okay, this is a bit of a funny story. See, I thought 247 exness was actually Exness, another well-known broker. So, I signed up and they offered me some trading conditions, which seemed alright. But the thing is, I like using copy trading, and guess what? It doesn't offer that. So yeah, I ended up switching to a different platform that had copy trading features.

Thomas Petit
2024-07-08

  

247 Exness 2025 Review: Everything You Need to Know

  The 247 Exness review reveals a broker that operates in a contentious space, marked by a mix of user satisfaction and significant complaints regarding its legitimacy. While some users commend the platform for its quick withdrawal processes and responsive customer service, others raise serious concerns about the broker's regulatory status and withdrawal practices.

  Note: Its crucial to be aware that 247 Exness operates under different entities across regions, which adds complexity to its regulatory standing and user experience. This review adopts a balanced approach to present the broker's features and user feedback for a fair and accurate assessment.

  

Ratings Overview

Category Rating (Out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service and Support 6
Trading Setup (Experience) 5
Trustworthiness 2
User Experience 4

  We rate brokers based on a combination of user feedback, expert analysis, and factual data provided in reviews.

  

Broker Overview

  Founded within the last five years, 247 Exness is registered in Seychelles and claims to offer a range of trading services. However, it lacks the regulatory oversight typical of reputable brokers. The platform does not support the widely used MetaTrader 4 (MT4) or MetaTrader 5 (MT5) trading platforms, which raises questions about the trading experience offered. Despite its claims, the available information about tradable assets remains vague, with indications that it includes forex, commodities, and cryptocurrencies.

  

Detailed Breakdown

  

Regulatory Regions

  247 Exness operates primarily in Seychelles, claiming to be regulated by the Seychelles Financial Services Authority (FSA). However, it has been flagged as a suspicious clone of other legitimate brokers, leading to doubts about its regulatory compliance.

  

Deposit/Withdrawal Currencies

  The platform supports various deposit and withdrawal methods, but users have reported issues with withdrawal processes. Some have claimed that they were charged excessive fees or faced delays when attempting to withdraw their funds.

  

Minimum Deposit

  The minimum deposit required to open an account with 247 Exness is reported to be around $300, which is higher than many competitors that offer accounts with no minimum deposit.

  

Bonuses/Promotions

  There is little information on any active bonuses or promotions offered by 247 Exness, which is a common practice among many brokers to attract new clients.

  

Tradable Asset Classes

  The tradable asset classes reportedly include forex, commodities, and cryptocurrencies. However, the specific details regarding available instruments remain unclear, contributing to user skepticism.

  

Costs (Spreads, Fees, Commissions)

  Users have reported mixed experiences regarding spreads and fees. While some users appreciate the low spreads, others have highlighted hidden costs associated with withdrawals.

  

Leverage

  The leverage offered by 247 Exness can be high, which may appeal to experienced traders but also increases the risk for less experienced investors.

  

Allowed Trading Platforms

  247 Exness does not support popular trading platforms like MT4 or MT5, which are industry standards. This absence may limit the trading capabilities and tools available to users.

  

Restricted Regions

  There is limited information on specific regions where 247 Exness is restricted. However, the lack of regulatory credibility raises concerns for potential users in various jurisdictions.

  

Available Customer Service Languages

  247 Exness offers customer support primarily in English, which may limit accessibility for non-English speaking users.

  

Ratings Revisited

Category Rating (Out of 10) Detailed Explanation
Account Conditions 4 High minimum deposit and unclear account types.
Tools and Resources 5 Limited trading tools and no access to MT4/MT5.
Customer Service and Support 6 Mixed reviews on responsiveness and effectiveness.
Trading Setup (Experience) 5 User experiences vary widely; some report issues.
Trustworthiness 2 Multiple red flags regarding regulatory status.
User Experience 4 Significant complaints about withdrawal processes.

  

Detailed Breakdown of Ratings

  •   Account Conditions (4/10): Users have reported a minimum deposit requirement of $300, which is relatively high compared to other brokers that allow for lower entries. This can be a barrier for new traders looking to start with minimal capital.

  •   Tools and Resources (5/10): The lack of MT4 or MT5 is a significant drawback. Many traders rely on these platforms for their comprehensive features and user-friendly interfaces. The absence of these tools limits the trading experience and may deter potential users.

  •   Customer Service and Support (6/10): While some users have praised the customer service for being responsive, others have noted that their issues were not adequately addressed, particularly regarding withdrawals. The inconsistency in support quality is a concern.

  •   Trading Setup (5/10): The trading experience is reported to be mixed. Some users have had positive experiences with trade execution, while others have encountered issues during high volatility periods.

  •   Trustworthiness (2/10): The regulatory status of 247 Exness is highly questionable. Claims of a license that belongs to a different entity, combined with a lack of transparency, suggest potential fraudulent activity.

  •   User Experience (4/10): User feedback is divided. Some report satisfaction with the trading experience, while others express frustration over withdrawal issues, leading to an overall negative perception of the broker.

  •   In conclusion, the 247 Exness review presents a broker that operates in a controversial space, with significant concerns regarding its legitimacy and regulatory compliance. While some users have had positive experiences, the overwhelming number of complaints about withdrawal practices and regulatory issues suggests that traders should exercise extreme caution when considering this broker.

247 Exness review