Clients of Exness, a forex brokerage regulated in Cyprus and Belize, can have their expenses reimbursed when funding their trading accounts using international wire transfers, the broker said on Friday in a notice. The new service will be available for both bank fees and conversion charges for transactions of more than $50,000.
Once they make a payment of more than $50,000, traders who want to benefit from the new service need to submit an application and bank documents that confirm the transfer has been executed. Once their application is approved, traders will receive the compensated amount directly in their Exness trading accounts.
International wire transfer charges are usually large and are subject to currency conversion and bank processing charges.
Wire transfers are often the payment method of choice for traders who invest large sums since they are considered safer than other payment methods, the broker said. Moreover, they allow deposits to be made from anywhere using any currency.
Exness charges no commission on wire transfers. In addition, the broker also accepts deposit and makes withdrawal payments using credit cards and e-wallet Neteller. More details on its payment/withdrawal methods follow:
The Exness group was established in 2008 and includes companies registered with and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Belize International Financial Services Commission (IFSC). The group companies are also registered with the relevant regulatory bodies of Germany, the Netherlands, Poland, Spain, Italy, and Sweden.
The broker offers Mini, Classic, and ECN trading accounts, both demo and live ones. Its clients can open trading accounts in more than 80 currencies and trade with more than 120 forex pairs. Exness offers trading via the the MetaTrader 4 (MT4) trading platform at tight spreads, starting from 0-0.3 pips and high leverage rates of up to 1,200:1 for all account types.