I would say that Exness has the best conditions you could dream of: Incredible spreads that are as good as best ECNs like LMAX or DUKASCOPY without any fee, and amazing swap rates (Maybe the best you can find). And you can have 30% rebates on top of this (I was with BestForexCashback, which had always been great). I told myself a few times that it was too good to be true, and unfortunately I was right, but at the same time, I was stupid too (won't change anytime soon I guess) and continued trading anyway as everything was fine for approx 6 months.

Then, as I was making too much profit I guess, happened what obiously would happen: I got SCAMED !

One part of my trading was arbitraging EURO against LITUANIAN LITAS by selling EUR/USD and selling USD/LTL, as the exchange rate is quite fixed. Was making profit, and earning good swap on USD/LTL shorts during the time I was keeping the positions open.

What EXNESS did is that they simply *DISABLED* trading on the USD/LTL pair, so I got stuck with more than 9 lots on USD/LTL shorts, and couldn't do anything anymore: Impossible to close any order, open new ones, change TP or SL. Of course, they did this without any notice. I emailed, chatted, and did whatever I could to make them let me manage and close my positions. Nothing to do, they kept on telling that they did not disable the trading on the pair, but that I couldn't close the positions due to "low liquidity" on the pair. Of course we are talking of a "market maker" account, not an ECN one, so THEY are the counterpart of the trade. And according to them, it's the "low liquidity" too that prevents me to change the StopLoss or TakeProfit of trades. And MT4 returns a "TRADING DISABLED" message ... Anyway, nothing to do.

Only solution seemed to let THEM close the positions. They tried to make me accept to cancel all the trades too. So, there was 2 possibilities according to them: Close all the positions at market price, or close the positions that were attempted to be closed, and couldn't due to the "low liquidity" problem, at the attempted close price. Seems not bad ... (I asked by chat and email a lot of times for them to confirm which trades that would be and at which prices, they never answered. Or they answered I would get an email with the information, which I never got)

One friday afternoon, to resolve this issue, I accepted by chat to close *ALL* (I always asked for *ALL* positions of my account to be closed at once so that USD/LTL and EUR/USD trades which hedge each other are closed at the same time) positions as the cross beetween the 2 pairs was favorable to me. Seems that in fact it was too favorable to me, as they waited, waited, and didn't close the positions when I asked. I asked again, kept on asking, and one hour later, still nothing was done. When price was far less favorable for me, I wanted to cancel the close of the trades, as they did nothing for more than 1 hour !!! And they kept on saying that they would close the trades at the close of the market, at the last available price. I refused and refused as it would be the absolute worst prices for me, with the highest spreads, but they didn't seem to take in consideration my request and said they would do it, and that I had no choice ... Nice !

Anyway, probably the conditions weren't bad enough (was really better than usual for a WE close), as they finally didn't do it ;)

Next week, I emailed them again to try to solve the issue. I tried to tell them that I would at least like to have the trades closed WHEN I ask it if I can't close them myself when I want and at the price I want because they disabled trading on the pair (which is already unacceptable). I finally agreed to already close trades that were attempted to be closed by my EA at the price of the attempt, which was in my favor. I checked my logs, and there were 2 trades with a close try at better prices than actual market price on USD/LTL, so why not start bu this ? *BUT* what they did, is that they closed one of this 2 trades at a WORSE price than the attempted close price and ANOTHER trade (not the good one) which wasn't attempted to be closed at a SILLY price which instantly gave a very huge loss !!! In fact they took the trade with the BIGGEST running loss and closed it at price far above actual market price.

When I emailed them with my logs and explained they made a mistake, they didn't want to hear anything. I politetly asked for them to cancel this operation then, as it didn't match what was attempted to be done and they never were able to reply to all my request to at least let me know what they would do, and close everything at market price. They refused and if I wasn't 100% sure until then, became obvious that they did what they did on purpose.

At this point, I wanted to try to withdraw what I could from my account, so asked them to close *ALL* account transactions, even if they would chosse the worst moment, as I had no choice ... And what they did finally is that they waited during a big market move (during ECB press conference) and only closed the USD/LTL trades, not the EUR/USD ones, so I had 9 lots of EUR/USD trades open ALONE in a directional bet. They just closed at the right moment so that even I was monitoring my account, I got another HUGE loss in a few seconds.

Tried to do my best to get out of the situation, gained again some of the lost money and got everything closed.

I then went on their website to do a withdrawal of what was remaining after all this and their "AUTOMATIC WITHDRAWAL" that they adverstise everywere seems to stop to be automatic when you try to withdraw more than you deposited ... So didn't get my withdrawal.

That's all the story (quite long, but tried to keep it the shorter I could). Don't get fooled by EXNESS good conditions, EXNESS is a *SCAM* !!!!! I had a stable 3000 MBB (a metal currency account) equity on my account, and growing with swap earned each day, which was approx 4100 EUROS. I now will try to advertise this story everywhere I can to warn other traders of EXNESS behaviour, and try to get this back by filling a complain with FDR. Hopefully it was only profits, I withdraw deposited money before, but that was months and months of hard work ;(

I have all chats / emails / logs / account statements / screen captures to prove everything.

Funny note: Not sure what it exactly means said like this, but article 3.2.a of EXNESS client agreement states that: "The Client is obliged to realize his right to open/close position in the terminal of the Company".

Hmm. If it is true then it is worst. I would like to see a reply from exness representative about this matter.

BTW You tried to withdraw all money but did u try to withdraw small amounts? 

I havnt researched about exness so far. But they will have many bad reviews if they r scamming like this.

Originally posted by Jogi

I havnt researched about exness so far. But they will have many bad reviews if they r scamming like this.

They already have quite a lot if you search a little. What's amazing with SCAMs on forex is that despite this bad reviews, they still manage to get some new customers. And If you look a little bit around, Exness is spaming forums like hell with multi-accounts trying to make it appear as the best broker on earth (if you just stop at their conditions, with a great webite and so on, they are, lol). They have some fake traders reviews like: Hey, I work with them since xxx and it's great/perfect/and so on...

uniquetrader: Everything I wrote is the truth (mine, I admit), but I really tried to base all I wrote on pure facts. You can check all the evidences I posted on this and other things about Exness on FPA, in scam alert folder (named "Exness scam")

To be totally fair, I have to say that Exness corrected PARTLY the problem by finally RE-CLOSING the wrongly closed trades (after drinving me mad for more than a month). So I got a good part of my money back. Still lost around 1000 EUROS in this case. But my real concern is that Exness IS A BIG SCAM, they really are behaving dishonestly (quotes and spread manipulation, forbid you from entering or closing trades when they don't want...), and should be shut down. Read on FPA if you have a minute, and make an opinion by yourself.

Exness is a fine broker, i had wanted once to join them but didnt due to lack of money but i had read enough reviews of them and i noticed that they are also good, a good levergae with nice spread etc. Dont know how they are on withdrawals.

bbasiit123, Exness has VERY good conditions: Amazing spreads and very good swaps, and as you point it out excellent leverage. But you forgot quotes and spread manipulation, and not letting you withdraw your profits if you earn too much ... Be happy you couldn't open an account with them, this way you didn't get scammed. About good reviews, don't forget that THEY use multiple accounts to post (fake) good reviews a little bit everywhere. Don't get fooled. Did you read all I posted on FPA about them ?

Anyway, it's your money, and you're free to do what you want with it.

Originally posted by Mevo

bbasiit123, Exness has VERY good conditions: Amazing spreads and very good swaps, and as you point it out excellent leverage. But you forgot quotes and spread manipulation, and not letting you withdraw your profits if you earn too much ... Be happy you couldn't open an account with them, this way you didn't get scammed. About good reviews, don't forget that THEY use multiple accounts to post (fake) good reviews a little bit everywhere. Don't get fooled. Did you read all I posted on FPA about them ?

Anyway, it's your money, and you're free to do what you want with it.

Do u ever heard from someone having same problem? Coz if they r scamming, they should be rated as scam on legitimate forums and review sites. As u r saying that u r scammed by exness. One can assume u a representative of competitor of exness. So if many customers r complaining with proofs then exness will obviously be out of business.

Originally posted by uniquetrader

Do u ever heard from someone having same problem? Coz if they r scamming, they should be rated as scam on legitimate forums and review sites. As u r saying that u r scammed by exness. One can assume u a representative of competitor of exness. So if many customers r complaining with proofs then exness will obviously be out of business.

If you search a little bit around, you will find quite a lot of posts on forums about problems of quotes and spread manipulation with Exness. And you will find A LOT of very good reviews, as I guess Exness itself is posting with multiple accounts a little bit everywhere. About rating them as scam on review sites, I will do my best to have this done.

I could be a competitor of Exness and claim to have been scamed to ruin Exness' reputation, yes, this could be the case. But I assure you here that it is NOT what's happening, I'm NOT related to any broker, and about my case with Exness, you will find all the evidences (Account statement, emails echanged, chat sessions, Exness answers posted in the forum itself, etc ...) on FPA scam alert folder (Name: Exness scam) and right now, quite a lot is going on, on MyFxBook forum (How I got ripped off by Exness).

Sorry to advertise some other websites here on fxStat, but it is where the action is right now, with Exness involved in the discussion.

Yes FPA do have some posts related to exness. But Exness representative keeps denying them. So it is still a confusion. Can u post a few proofs here so that we can also see it. It will definitely help us to understand what they say during chat sessions when u were complaining.

Maybe you didn't find the correct thread. Here it is: http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/21964-exness-scam.html

Oh yes, Exness is constantly denying everything. Have a look, and make an opinion by yourself.