Plain-English forex education. No hype, no signals.فارسی
BrokerCutForex Academy

Head to head

Exness vs WM Markets

Exness is licensed by FSCA in South Africa, CMA (Kenya) in Kenya, CMA (UAE) in the United Arab Emirates, FCA in the United Kingdom and CySEC in the European Union, and also has an offshore registration. WM Markets has no licence we could confirm on a regulator's register. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $10 at Exness and $50 at WM Markets. Both offer negative balance protection and segregated client money.

Facts last checked: Exness on 20 October 2026, WM Markets on 20 October 2026.

Exness profileWM Markets profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
ExnessOffshore registration onlyRead the profile
WM MarketsRead the profile
Comparing
ExnessSeychelles
WM Markets

Overview

Founded
Not yet checked
Not yet checked
Headquarters
Not yet checked
Fomboni, Mwali (Comoros)
Official websites
  • exness.com
  • exness.eu
  • exness.uk
  • exness.ke
  • wmmarkets.com
  • en.wmmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Exness (SC) Ltd
No licence listed
Regulator
FSA Seychelles
Seychelles
No licence listed
Regulation level
Offshore registration only
No licence listed
Licence number
SD025 (Securities Dealer)
Check the register
No licence listed
Clients this company serves
Clients who sign up through exness.com (Exness assigns the company by country; it names it in the client agreement)
No licence listed
All licences held
  • FSA Seychelles (Seychelles)
  • FSC (BVI) (British Virgin Islands)
  • FSCA (South Africa)
  • CMA (Kenya) (Kenya)
  • CMA (UAE) (United Arab Emirates)
  • FCA (United Kingdom)
  • CySEC (European Union)
None listed
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
None
None

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
Up to 1:Unlimited on some accounts (offshore companies)
Up to 1:2000 (dynamic, set per instrument)
Retail leverage by asset class
Not yet checked
Not yet checked
Margin call level
60% (Standard); 30% (Pro, Zero, Raw Spread)
100%
Stop-out level
0% (stocks differ)
20%

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • Exness Terminal
  • Exness Trade app
  • MetaTrader 4
  • MetaTrader 5
  • WM Markets mobile app
  • MT4 WebTrader
Markets
Currency pairs, metals, cryptocurrencies, energies, stocks and indices as CFDs
CFDs on forex, metals, indices, energies, commodities, treasuries, shares, ETFs and cryptocurrencies
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Not yet checked
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
Not yet checked
Not yet checked
Withdrawal fee
No withdrawal fees from Exness; third-party fees may apply depending on the payment method
Not published; the agreement allows transfer-related and termination fees
Inactivity fee
Not yet checked
Accounts with no trading for six months are disabled and may pay maintenance charges (amount not published)

Support

Customer support
Not yet checked
24/5 multilingual support by live chat

Our notes

Strengths
  • Licences confirmed with the FSCA in South Africa, the CMA in Kenya and the UAE's Capital Market Authority
  • Low $10 minimum deposit on the Standard account and no withdrawal fees from Exness
  • Exness says client money is held in segregated accounts and retail accounts have negative balance protection
  • Negative balance protection is written into the client agreement
  • The agreement says client money is kept apart from the company's own funds
  • Says it holds a client funds insurance policy of up to $1,000,000
Watch out for
  • Most retail clients join offshore companies (FSA Seychelles or BVI FSC), and the strictly regulated UK and Cyprus companies do not accept retail clients
  • Exness also says it holds licences from the Central Bank of Curaçao and Sint Maarten (Exness B.V., 0003LSI), the FSC of Belize (Forexite Ltd., 9110312), the FSC of Mauritius (Exness (MU) Ltd, GB20025294), the Jordan Securities Commission (Exness Limited Jordan) and an FSCA ODP authorisation for Exness (SC) Ltd. We could not confirm these on the regulators' registers on 2026-10-20.
  • Leverage up to 1:Unlimited and a 0% stop-out mean a position can be closed only when your margin is gone
  • Says WM Markets Ltd holds MISA licence BFX2024009; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • The agreement gives the company a lien over client assets and lets it pledge or reinvest assets held for clients
  • Leverage up to 1:2000, and payment methods and withdrawal fees are not listed on the public website
  • Inactive accounts are disabled after six months and may be charged maintenance fees that are not published

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Exness: Risk Warning: Our services relate to complex derivative instruments requiring appropriate knowledge and understanding. Their prices may fluctuate rapidly and may become valueless. Trading involves a high risk of loss, with traders likely to incur losses exceeding the potential for profits. Losses may extend up to the full amount of funds in the trading account. Under no circumstances shall Exness have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any investing activity.
  • WM Markets: Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk and may not be suitable for all investors, as may result in the loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite, and, if necessary, seek advice from an independent financial advisor.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

BrokerCut on Telegram

Get the latest forex news and market analysis.

Join the channel