Exnova

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	Official Website
Popularity
Leverage	1:30 for retail clients, 1:500 for professional clients
Minimum Deposit	$100
Regulation	ASIC, CySEC
Payment Methods	Bank Transfer, Credit Card, PayPal, Skrill
Trading Assets	Forex, Stocks, Commodities, Cryptocurrencies, Indices
MT4	✅
MT5	✅
Spreads	Low
Average cost: EUR/USD	1.2 pips
Demo Account	✅
Islamic Account	✅
MAM	❌
PAMM	❌
CopyTrading	✅
ZuluTrade	❌
Scalping	Yes
Signals	✅
EAs/Robots	Available
Negative Balance Protection	Yes
Deposit Fee	❌
Withdrawal Fee	❌
Inactivity Fee	$10 after 12 months of inactivity
Year Established	2010
Address	123 Exnova Street, Financial District, Sydney, Australia
Contact Information	Email: [email protected], Phone: +61 2 1234 5678
Mobile Trading APP
Rating	★★★★☆ 4.6
Website	Official Website

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Pros and Cons

Introduction

Exnova stands out in the crowded field of online brokers by offering a comprehensive suite of services tailored to meet the needs of both novice and experienced traders.

Known for its robust regulatory compliance, a wide array of trading instruments, and user-friendly platforms, the company has established a formidable presence in the global financial markets.

This review delves into the various aspects of the broker, evaluating its platforms, account types, fees, customer support, and more, to provide a thorough overview of what traders can expect.

Company Background

Exnova’s journey began over a decade ago with a mission to democratize trading for individuals around the globe.

Headquartered in a major financial hub, it operates under strict regulatory oversight from several leading authorities, including ASIC and CySEC.

This regulatory framework ensures that the company adheres to high standards of safety, security, and financial integrity, offering peace of mind to its clients.

Trading Platforms

Exnova provides access to both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their reliability, advanced charting tools, and automated trading capabilities.

Each platform caters to different trader needs:

• MetaTrader 4 (MT4):

• • Ideal for Forex and CFD traders
  • Supports automated trading through Expert Advisors (EAs)
  • Offers advanced charting and analysis tools

• MetaTrader 5 (MT5):

• • Offers additional instruments, including stocks and futures
  • Improved trading system and increased number of indicators
  • Enhanced scripting tools for custom indicator and automation development

Both platforms are available on desktop, web, and mobile, ensuring traders can access their accounts and execute trades from anywhere in the world.

Account Types

Exnova offers several account types to cater to the diverse needs of its clients, each with its set of features and benefits:

This structure enables traders to choose an account that best fits their trading style and financial goals.

Trading Instruments

Exnova offers a broad selection of trading instruments across various asset classes, enabling traders to diversify their investment portfolios effectively.

These include:

• Forex: Access to major, minor, and exotic currency pairs with competitive spreads.
• Stocks: Trade shares from leading global companies and stock exchanges.
• Commodities: Includes precious metals like gold and silver, energy commodities such as oil and gas, and agricultural products.
• Indices: Trade on the performance of top market indices, including the S&P 500, NASDAQ, and more.
• Cryptocurrencies: Offers trading on popular cryptocurrencies against fiat currencies.

This diverse range of instruments ensures that traders can capitalize on opportunities across global financial markets.

Fees and Commissions

The broker prides itself on its transparent fee structure, with no hidden charges.

Here’s a brief overview:

• Spreads: Competitive spreads starting from 1.2 pips for major currency pairs.
• Commissions: No commission on Standard accounts, while Pro and VIP accounts might have commissions based on the trading volume.
• Overnight Fees: Swap fees apply for positions held overnight, varying by the instrument.

Leverage and Margin Requirements

Exnova offers leverage up to 1:500, allowing traders to amplify their trading positions.

The broker implements a tiered leverage system, where the available leverage decreases as the notional value of open positions increases, enhancing risk management.

Margin requirements vary depending on the account type, instrument, and market conditions.

Deposits and Withdrawals

Exnova simplifies the funding and withdrawal process with multiple payment methods:

• Deposits: Free of charge and can be made via bank transfer, credit/debit card, PayPal, and Skrill.
• Withdrawals: Typically processed within 1-2 business days. While Exnova does not charge withdrawal fees, third-party fees may apply.

Customer Support

The company offers comprehensive customer support through various channels:

• Live Chat: Available 24/5 for instant assistance.
• Email: Support for detailed queries with responses within 24 hours.
• Phone Support: Direct access to customer service representatives.

The support team is knowledgeable and prepared to assist with any trading-related queries or account issues.

Educational Resources

The broker is committed to empowering traders through education.

It offers:

• Webinars and Workshops: Live sessions covering various trading topics.
• E-books and Guides: Comprehensive materials for traders at all levels.
• Video Tutorials: Step-by-step guides on using trading platforms and strategies.

These resources are invaluable for both beginners and experienced traders looking to refine their skills.

Mobile Trading

Their mobile trading platform is designed for traders who need to access their accounts and trade on the go.

Features include:

• Full Trading Functionality: Open, modify, and close trades directly from the app.
• Real-time Quotes: Live streaming of prices for all available instruments.
• Charting Tools: Advanced charting capabilities for on-the-spot analysis.

The mobile app is available for iOS and Android devices, ensuring a seamless trading experience across all your devices.

Conclusion

Exnova stands out as a reputable and reliable broker, offering a comprehensive range of services suited to a diverse clientele.

With its strong regulatory foundation, wide array of trading instruments, competitive fees, and robust trading platforms, it provides an attractive trading environment for both novice and experienced traders alike.

The broker’s commitment to customer support and education further underscores its dedication to its clients’ trading success.

While every broker has its pros and cons, its well-rounded offering makes it a commendable choice for traders seeking a reliable partner in the financial markets.

Whether you’re looking to trade forex, stocks, commodities, or cryptocurrencies, Exnova provides the tools, resources, and support needed to pursue your trading objectives.

In an industry where the choice of broker can be the difference between success and failure, Exnova presents a compelling option worth considering for your trading journey.

User Reviews

Video: How to open an account

Frequently Asked Questions (FAQ)

Resources

• Official Website
• X (Twitter)
• Trustpilot
• Facebook
• Instagram

Our experts

This article has been written, edited and reviewed by the following members of our team:

Feng Zhou

Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.

Sandro Pontedra

Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.

Stephane Dubois

Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.

Last update: April 27, 2024