Exness is a forex and CFD broker. International retail clients deal with Exness (SC) Ltd in Seychelles or Exness B.V. in Curaçao. Its Cyprus company, licensed by CySEC since 2012, and its UK company, authorised by the FCA, serve institutional and business clients. Exness’s main websites refused our automated requests, so parts of this assessment rest on its published legal documents and on company filings.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Financial Services Authority Seychelles (FSA) | SD025 | Exness (SC) Ltd | Authorised Checked 4 Oct 2026 | Register entry for Exness (SC) Ltd (opens in a new tab) 1 |
| Cyprus Securities and Exchange Commission (CySEC) | 178/12 | Exness (Cy) Ltd | Authorised Checked 4 Oct 2026 | Register entry for Exness (Cy) Ltd (opens in a new tab) 2 |
| Financial Conduct Authority (FCA) | 730729 | Exness (UK) Ltd | Authorised Checked 4 Oct 2026 | Register entry for Exness (UK) Ltd (opens in a new tab) 3 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
Exness serves international retail clients through Exness (SC) Ltd in Seychelles, which we matched on the regulator’s list, and Exness B.V. in Curaçao, whose licence we could not check. Its Cyprus and UK companies are on their regulators’ registers but serve only institutional and business clients. The current international client agreements disclose segregated client money, negative balance protection and membership of the Financial Commission dispute scheme; no investor compensation scheme covers these clients. UK company filings identify Petr Valov as the group’s controlling owner, with Igor Lychagov also holding a significant stake. We found no fine against an Exness company. Brazil’s CVM ordered Exness companies to stop offering services there in 2022, Exness is on alert lists in India and Malaysia, and Philippine media reported an SEC advisory in December 2025. Exness’s main websites refused our automated requests, so its costs, leverage, risk warnings and marketing claims are not determined.
The current Seychelles and Curaçao agreements say client money is held in a separate client money bank account, segregated from the company’s own funds, although it may be pooled and placed with third parties such as payment service providers.
Companies House lists Petr Valov (more than 50% but less than 75%) and Igor Lychagov (more than 25% but not more than 50%) as persons with significant control of Exness (UK) Ltd. Its audited 2025 accounts name Mr Valov as ultimate controlling party and describe Exness (SC) Ltd and other Exness companies as connected to it by a common beneficial owner.
The registers we could check show the Seychelles, Cyprus and UK companies as currently authorised, with no suspension.
Both international agreements apply a negative balance policy under which clients will not lose more than they deposited.
Clients of the Seychelles and Curaçao companies can take unresolved disputes to the Financial Commission within 45 days of the incident. The Financial Commission lists Exness as an active member since 22 July 2021.
Reduced the enforcement dimension by 5 points (moderate severity, 4.7 years before the review, counted at half weight).
Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Reduced the enforcement dimension by 1 points (low severity, 3.5 years before the review, counted at half weight).
Reduced the enforcement dimension by 0.5 points (low severity, 9.1 years before the review, counted at a quarter of its weight).
Not met No investor compensation scheme covers clients of the Seychelles and Curaçao companies. The Financial Commission’s fund only pays its own awards, up to EUR 20,000 per client, if a member fails to pay; it does not cover a broker’s insolvency.
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 12345
We matched Exness (SC) Ltd on the Seychelles FSA’s list, Exness (Cy) Ltd on CySEC’s register and Exness (UK) Ltd on the FCA’s list. We could not check Exness B.V.’s Curaçao licence, which covers many international clients, or the South African and BVI authorisations, because those registers refused our requests.
Clients can tell which regulated entity serves them 4578
Each client agreement names the contracting company, its licence and address, and the Cyprus and UK companies are reported to serve only institutional and business clients. We could not access the website pages that say which retail clients each international company serves.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Ultimate ownership can be identified 79
Companies House lists Petr Valov (more than 50% but less than 75%) and Igor Lychagov (more than 25% but not more than 50%) as persons with significant control of Exness (UK) Ltd. Its audited 2025 accounts name Mr Valov as ultimate controlling party and describe Exness (SC) Ltd and other Exness companies as connected to it by a common beneficial owner.
Group structure is explained 7
The UK company’s accounts name several Exness companies connected through a common beneficial owner and describe some of their roles, but we could not access Exness’s own explanation of how its companies are related.
Financial statements are available 7
Exness (UK) Ltd files full audited accounts at Companies House, most recently for 2025. We found no financial statements for the Seychelles and Curaçao companies that serve international clients.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Banking and custody arrangements are disclosed 4
The agreements do not name the banks that hold client money, and we could not access Exness’s website to see whether it does.
Withdrawal terms are disclosed 4
The agreements set out withdrawal conditions and say requests are processed, where feasible, within three business days, but state that withdrawal commissions are shown in the client’s Personal Area. We could not access Exness’s public payment pages.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 8.5 points.
Warning lists and enforcement records have been searched 1112131415
We searched CySEC, FCA and CVM records and the Indian and Malaysian alert lists, and ran web searches for actions by Exness’s other regulators. The searches are cited with their dates. The Japan FSA’s list of warned unregistered firms (September 2026) includes Nymstar Limited, under the Exness name (2023).
Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 12
19 Nov 2025. Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Listed on Bank Negara Malaysia’s Financial Consumer Alert List 13
28 Aug 2017. Reduced the enforcement dimension by 0.5 points (low severity, 9.1 years before the review, counted at a quarter of its weight).
Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 15
21 Apr 2023. Reduced the enforcement dimension by 1 points (low severity, 3.5 years before the review, counted at half weight).
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
Independent complaint outcomes show no adverse pattern
We found no published ombudsman or dispute-body outcomes for Exness.
Complaint data is disclosed
We could not access Exness’s websites to check whether it publishes complaint statistics.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
Costs are disclosed before account opening 4
The agreements say costs are set out on the website and in the Personal Area. We could not access those pages.
An order execution policy is published 19
The Seychelles terms say trades use instant or market execution and are filled at the best available price from Exness’s liquidity providers. We could not access a full order execution policy or the conflicts of interest policy that the agreement lists.
Leverage and margin terms are disclosed 19
The Seychelles terms explain margin calls and stop-outs but do not state maximum leverage or stop-out levels, and we could not access the website pages that may give them.
Risk warnings are clear and current
We could not access Exness’s websites to check its risk warnings.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable
We could not access Exness’s marketing pages.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Financial Services Authority Seychelles (FSA) · Reference SD025 1
Securities dealer
Listed among licensed securities dealers. The register does not show licence numbers; SD025 is the number Exness gives.
Financial Sector Conduct Authority (FSCA)
Over-the-counter derivatives provider (as stated by Exness)
The FSCA’s search did not load when we checked on 4 October 2026.
Central Bank of Curaçao and Sint Maarten (CBCS) · Reference 0003LSI
Securities intermediary (as stated by Exness)
The Central Bank of Curaçao and Sint Maarten website refused our requests on 4 October 2026.
Cyprus Securities and Exchange Commission (CySEC) · Reference 178/12 2
Reception and transmission, execution of orders and dealing on own account in financial instruments 1 to 10 (which include CFDs); portfolio management in instruments 1 to 4.
Licence granted 5 September 2012. Approved domain www.exness.eu.
Financial Conduct Authority (FCA) · Reference 730729 3
Listed as Authorised in the FCA’s investment firms list, first authorised 1 September 2016. We could not load the register’s permission details.
British Virgin Islands Financial Services Commission (FSC) · Reference SIBA/L/20/1133
The BVI Financial Services Commission website refused our requests on 4 October 2026.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
Philippine media reported that on 12 December 2025 the Securities and Exchange Commission issued an advisory saying Exness Global Limited and its trading app were not registered in the Philippines and not authorised to solicit investments from the public there. Exness Global Limited is a group company, according to Exness (UK) Ltd’s accounts. We could not access the SEC’s own advisory, so this finding rests on press reports and is not counted in the score.
The Reserve Bank of India’s Alert List, updated as on 19 November 2025, includes Exness (www.exness.com) among entities that are neither authorised to deal in forex under the Foreign Exchange Management Act nor authorised to operate a forex trading platform in India. The list warns residents but does not allege fraud.
On 21 April 2023 Japan’s Financial Services Agency warned Nymstar Limited, of Eden Island, Seychelles, for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service name “Exness”. Brazil’s CVM named Nymstar Limited in 2022 among the companies presenting themselves as responsible for exness.com.
On 17 January 2022 Brazil’s securities regulator said that Nymstar Limited, Exness B.V., Venico Capital Limited and Vlerizo (PTY) LTD, which presented themselves as responsible for exness.com in Portuguese, were seeking investors resident in Brazil without authorisation to intermediate securities. By Declaratory Act 19.485 it ordered them to stop offering those services, directly or indirectly, under a daily fine of BRL 1,000. Exness files the client agreement of Exness (VG) Ltd under the name Venico Capital Limited.
Bank Negara Malaysia added “Exness Malaysia” to its Financial Consumer Alert List of unauthorised companies and websites on 28 August 2017. The entry gives no website or company details.
Firms can respond to their profile and to any finding. No response has been published for Exness. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 6 Oct 2026 | Trust score 77 out of 100 Sound | 1.2 | Current |
No corrections have been made to this profile.
Lists Exness (SC) Ltd among licensed securities dealers at Office 107, 1st Floor, Waterside Property Ltd, Eden Island, Mahe, with website www.exness.com. This address differs from the one in Exness’s own documents.
Lists licence 178/12 granted on 5 September 2012, company registration number 293057, address 1 Siafi Street, Porto Bello, Office 401, Limassol, approved domain www.exness.eu, and authorisation to deal on own account and execute orders in financial instruments 1 to 10.
Shows Exness (UK) Ltd (FRN 730729) with status Authorised, first authorised 1 September 2016.
Names Exness (SC) Ltd, FSA licence SD025, also authorised as an OTC derivatives provider by the FSCA in South Africa, at 9A CT House, Providence, Mahe, with email support@exness.com. Money received from clients is held in a separate client money bank account, segregated from the company’s own funds, and may be pooled and placed with third parties such as banks and payment service providers. A negative balance policy means clients will not lose more than they deposited. Withdrawals are processed, where feasible, within three business days, and withdrawal commissions are shown in the client’s Personal Area. Costs are set out on the website and in the Personal Area. Exness is a member of the Financial Commission, to which clients can apply within 45 days of an incident if a dispute is not settled. Changes to the client agreement need at least five business days’ written notice, but the other documents that form part of the agreement may be changed without prior notice.
Names Exness B.V., authorised by the Central Bank of Curaçao and Sint Maarten with securities intermediaries licence 0003LSI, at Emancipatie Boulevard Dominico F. “Don” Martina 31, Curaçao. Its client money, negative balance, Financial Commission and amendment terms match the Seychelles agreement.
Names Exness (VG) Ltd, BVI Financial Services Commission licence SIBA/L/20/1133, at Trinity Chambers, Road Town, Tortola. Exness files it under the name Venico Capital Limited.
Full accounts audited by Grant Thornton UK LLP and filed on 29 September 2026. They describe the company as a business-to-business provider of liquidity and related services to regulated brokers and other professional counterparties, say it segregated all client funds during 2025 and ended its title transfer arrangements, and report net assets of USD 150.7m and profit after tax of USD 2.6m. The directors deem Mr P Valov the ultimate controlling party through his majority ownership. Exness Ltd (Jordan), Exness (SC) Ltd, Exness Global Limited, Exness (VG) Ltd (described as a market liquidity provider), Exness (CY) Limited and Expert Execution CY Limited are listed as related companies connected by a common beneficial owner.
Reports that Exness and IronFX now provide services only to institutions under their European licences, shifting their retail focus to emerging markets.
Active company incorporated on 27 January 2014 (named Exness Europe Limited until October 2017), registered office 107 Cheapside, London EC2V 6DN. Active directors: David Richard Morris and Nicholas Edward Ojeda Sierra. Persons with significant control: Petr Valov (more than 50% but less than 75% of shares and voting rights) and Igor Lychagov (more than 25% but not more than 50% of shares and voting rights).
The fund is only used if a member refuses to pay a Financial Commission judgment or leaves without paying one, up to EUR 20,000 per client. It does not cover trading losses or a member’s insolvency.
Published 17 January 2022. Says the four companies, which presented themselves as responsible for the site exness.com/pt, sought to raise money from investors resident in Brazil through the site and social media without CVM authorisation to intermediate securities. Declaratory Act CVM 19.485 ordered them to stop offering securities intermediation services, directly or indirectly, under a daily fine of BRL 1,000. The link to the act itself no longer works.
Lists entities not authorised to deal in forex or operate forex trading platforms in India. Entry 6 is Exness, https://www.exness.com.
Lists companies and websites that are not authorised or approved under the laws Bank Negara Malaysia administers. Includes “Exness Malaysia”, added on 28 August 2017, with no website given. A separate entry for “Exness Executive Management” at exnesmalaya.com appears to be a look-alike site and is not treated as a finding about Exness.
On 4 October 2026 we checked CySEC’s 1,173 board decisions, the FCA’s warnings and notices, Brazil’s CVM alerts, the Reserve Bank of India’s alert list, the Securities Commission Malaysia and Bank Negara Malaysia alert lists, and ran web searches for actions by the Seychelles FSA, the FSCA, the Central Bank of Curaçao, the BVI Financial Services Commission and other regulators. We found no fine or sanction against an Exness company. The Securities Commission Malaysia list includes only look-alike schemes using the Exness name. The Philippine SEC’s own website refused our requests.
Lists Nymstar Limited, Eden Island, Seychelles, warned on 21 April 2023 for soliciting over-the-counter derivatives trading over the internet without registration in Japan; the service named is “Exness”. Brazil’s CVM also identified Nymstar Limited among the companies presenting themselves as responsible for exness.com.
Queries go first to customer support by email, live chat, telephone or the Personal Area and are usually resolved within three to five business days. Clients can escalate to formal.complaints@exness.com, and the final response must tell them of their right to complain to the regulator.
Sets out the same complaint process as the Seychelles policy, with typical resolution in three to five business days and escalation to formal.complaints@exness.com.
The Financial Commission, a private dispute resolution organisation, lists Exness as an active member registered on 22 July 2021.
Sets out quoting and execution rules: trades use instant or market execution, as shown in the contract specifications, and orders are filled at the best available price from the company’s liquidity providers. Explains margin calls and stop-outs but does not state maximum leverage or stop-out levels.
Reports that in advisories released on 12 December 2025 the Philippine SEC said Exness Global Limited was not authorised to solicit investments from the public in the Philippines and was not registered there.
Reports the Philippine SEC advisory against “EXNESS GLOBAL LIMITED/EXNESS GLOBAL-TRADING APP”, which it said allowed Filipinos to open accounts to trade unregistered investment products and promoted itself on social media.
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