Exnova Review

Introduction

Exnova is an online broker that offers traders several trading instruments. Traders can trade binary options, CFDs, crypto, commodities, etc., on Exnova. This trading platform is ideal for beginners and professional traders. Traders can find all the top features that make trading easy on this platform. 

Exnova is known to be a very user-friendly trading platform. Traders can use many trading tools that help them plan their trades in a much simpler way. The broker also offers a mobile trading application to traders. Thus, it is the best choice for traders who like to trade while on the move. 

All important facts about Exnova

Pros and cons of Exnova 

All online trading platforms have some pros and cons for traders.

Here is what traders can expect from Exnova: 

Pros

• Exnova offers more than 250 online trading instruments to traders. Thus, the trading platform serves the needs of traders who want diversified portfolios. 
• The broker ranks the best among other brokers because of its great features. For instance, traders can find customizable charts. 
• Traders can open more than one trading chart at one time. It allows traders on Exnova to close more than one deal at any time. 
• The broker best fits traders looking to trade CFDs and binary options. 
• Exnova is a binary options broker with a low minimum deposit. So, it is a suitable platform for beginners. 
• The broker makes available several educational resources for traders. 
• The trading platform offered by Exnova is simple to use for traders. Because of its user-friendly interface, traders do not encounter much trouble trading online. 
• Traders can trade using the web-based online trading platform or a mobile trading application. 
• Exnova offers traders a flexible trading experience. 
• The trading platform allows traders to choose their preferred language for trading. 
• Exnova also offers great customer support to traders. 

Cons

Some cons that come with Exnova are as follows:

• Traders might not be able to access the MetaTrader suite on Exnova. Most traders like to indulge in automated trading with the help of the MT4 and MT5 trading suites. However, such traders would feel disappointed while signing up on Exnova. 
• There is limited asset availability for traders on Exnova. Compared to other CFDs and binary options brokers, traders might experience a limited selection. 
• Traders get very limited payment choices on Exnova. Thus, this online trading platform might not be as competitive as other brokers. 
• Exnova’s educational content is limited. So, this platform might not be the best choice for beginner traders. 

Is Exnova safe ?

Digital Smart LLC operates Exnova. However, the broker does not mention any regulating authority overseeing its functioning. Thus, whether Exnova is regulated is unclear. 

Exnova has served the trading needs of many traders. Many traders have joined and profited by trading on Exnova. So, trading with Exnova is completely safe. 

In addition, Exnova also does its best to protect traders’ interests. All transactions that traders make through Exnova are SSL encrypted. Also, traders can expect that the broker protects all their data and transactions. 

Here is some information about the security of Exnova:

Binary and Digital Options Trading on Exnova

There are many binary and digital options available for trading on the Exnova trading platform. The company boasts of being one of the best binary and digital options providers in the market. There are many popular trading assets in this category to invest in on Exnova. Notably, Exnova promises clients stunning profits when trading binary and digital options. According to its website, traders stand a chance of making up to 95% profits on Binary options and up to 900% profits on digital options (in case of a successful trade).

These are very attractive potential profits and they are well within industry standards. However, it is important for traders to understand the risks of trading binary and digital options. If the prices move in a direction opposite to what the trader predicted, they stand to lose their entire investment in the order. In short, with binary and digital options, you either win or lose everything on the order.

Assets type and fees

Exnova leads in offering over 250 assets to traders. Some of the top assets traders can explore on Exnova include the following. 

Forex

Traders can access and trade as many as 31 foreign currencies on Exnova. Traders can trade these foreign currencies with CFDs and binary options. 

Commodities

Some top commodities on the trading platform include gold, silver, and oil. Traders can also find natural gas and crude oil for trading on Exnova. 

Indices

Traders can trade the leading indices such as SP 500, NASDAQ, etc.

Binary options

Exnova is one of those brokers that permit binary options trading for traders. Traders can choose the best pairs for trading binary options and enjoy a good payout. 

Cryptocurrencies

With the onset and growing popularity of crypto trading, Exnova offers top cryptocurrencies like Bitcoin, etc. Traders can pick and trade a wide range of cryptocurrencies on Exnova. 

Digital options

Besides binary options, traders can also trade digital options on Exnova. 

Account types on Exnova

Traders can trade the assets offered by Exnova by signing up for a trading account. The broker mainly has two trading account types for which traders can sign up. 

Demo account/practice account

A demo account or a practice trading account is available on Exnova for traders who wish to test the brokerage services offered by the broker. The demo account is also helpful for traders new to the trading world. 

Exnova offers traders funds of up to $10,000. These virtual funds are available for traders who wish to practice trading. Traders also have the option of getting more funds when they exhaust these.

The demo account offered by Exnova is similar to its real account.

Real account

The real account is where a trader has to use his funds to trade. The real account used a trader and access to all the leading assets on the online trading platform. 

Traders can fund their Exnova real accounts and use all the trading tools and technical indicators to conduct technical analysis. The Exnova real account works just like any real trading account.

Traders can profit by trading on this account and enjoy the fruits of investment.

Fees

When signing up for a trading account, a trader should consider the fees. From the fees’ perspective, Exnova is a decent broker.

• Spreads – The spreads offered by Exnova differ according to the trading conditions prevailing in the market. Usually, traders benefit from variable spreads that start from 1.0 pips. The spreads also depend upon the underlying asset the trader is trading. 
• Commissions -The broker might not charge any commissions from traders directly. Usually, the way Exnova earns is only by way of charging spreads and swaps from traders. 
• Swap fees – Traders who keep their positions open overnight on Exnova might have to bear a swap fee like any other broker. Traders have to pay a swap fee of 0.01-0.5%. Depending upon the trading conditions and the asset type, the swap fee can vary and be as high as 1.7%.

Trading Platforms of Exnova

Exnova falls behind in the race for the best brokers because of its inability to offer traders the best-automated trading suites. Traders find MT4 and MT5 lacking on this platform. So, traders might not be able to use the highly advanced features of these suites while using Exnova. 

But Exnova does offer traders a web trading platform and a mobile application. 

Mobile application

Traders can use Exnova mobile application if they wish to trade on the go. The broker offers similar trading conditions across mobile platforms and web trading platforms. 

Traders can place and track their trades while using the Exnova mobile application. 

The Exnova mobile application offers similar features as the proprietary web trading platform. So traders can access the same assets and features. 

The mobile application offered by the broker has an easy user interface.

Web trading platform

Exnova is available to trade on the web. Traders can log into their Exnova trading accounts using the web versions for trading in a streamlined manner. 

Trading on the web platform is without any hassle. Traders can access more than 250 available assets on Exnova’s web platform. It has very advanced features that allow traders to use technical tools, and charts, among other tools. 

The web trading platform offered by Exnova is intuitive and also user-friendly. Traders get the benefit of one-click trading. Besides, the broker endeavors to streamline the trader’s trading experience by allowing him to get real-time market data and one-click trading. 

Charting

Charting is an important tool for traders to make their trading decisions sound. Traders using Exnova can access several multiple charts. These charts are highly customizable. 

Traders trading on Exnova can also open more than one chart at any time to close one or more deals. 

These charts are available for conducting a technical analysis of any asset a trader trades. 

Trading tools

Exnova also offers several trading tools for traders. Traders can expect a great trading experience because of these tools. 

• Trading signals – Exnova also offers trading signals that allow them to track and benefit from attractive trading conditions. These trading signals allow traders to make much more informed trading decisions. 
• Technical indicators: Technical indicators are important trading tools traders need for technical analysis. Exnova offers traders multiple technical tools, such as RSI, MACD, etc. Exnova allows traders to use these on trading charts and conduct in-depth research. 
• Drawing tools: Traders can use drawing tools such as trend lines on their charts. It allows them to mark and track the important points on their charts. 

How to trade on Exnova? Step-by-step tutorial

Traders wishing to use Exnova can get started within a few simple steps. Exnova is a great broker that has an easy signup process. 

Step #1 Open a trading account

To access Exnova and trade on it, a trader would first need a trading account. A trader can visit Exnova’s website and click the ‘create an account’ option. The broker will lead you to the signup page. Here, a trader would need to enter his personal information to get started with a trading account. 

Step #2 Fill out the sign-up form and verify your account

Exnova would ask the traders to fill out the sign-up form and verify their trading accounts. Usually, traders must submit identity proof or bank statements to the broker. 

Step #3 Login and fund the account

Once the verification completes, a trader can use the login credential offered by Exnova to enter the trading account. To trade, a trader must first have real funds in his trading account if he is not using a demo account. 

A trader can fund the Exnova trading account with the payment methods offered and with the minimum deposit amount. 

Step #4 Choose the trading platform

Traders can finally decide whether they want to trade using the mobile trading application or the web trading platform. 

Step #5 Select an asset

Traders get all kinds of underlying assets on Exnova. So, they can choose a desirable asset for trading after they have conducted their research. 

Step #6 Analyze the markets

Exnova offers a wide range of trading tools that allow traders to analyze the markets. Before placing any trade with the broker, the trader must analyze the markets by conducting an in-depth technical analysis. 

Step #7 Place the trade

A trader can now choose the kind of trade he wants. Traders can choose the trade size. Exnova also offers traders features such as stop-loss or take profits. Traders can set place their Exnova traders using these features. 

Step #8 Monitor the trade

Now, traders must keep a check on the trade they have placed. A trader must close the trade before he incurs a loss on it. Exnova offers features that allow traders to track real-time price movements. So they can always track their trades in time. Once a trader feels he has earned a substantial profit, he can close his trade. A trader can also opt out of the trade when he feels he is reaching a certain loss level. 

Mobile apps

To make trading convenient for traders, Exnova offers a mobile application. Traders can trade using the mobile application in the same way as they can on the web trading platform. The mobile application is easily accessible to Android and iOS users. 

Exnova mobile app comes with the same features and tools as available on the web-based platform. 

Traders can also trade all the leading 250+ trading instruments on the mobile app. The broker offers real-time price quotes on the mobile application. In addition, it is much easier to manage the Exnova trading account on the mobile app, as a trader can access all the trading history at any time. 

Traders can download the Exnova mobile app and use it by:

• Logging in/signing up for a trading account 
• Funding the trading account
• Choosing an asset to trade
• Conducting a technical analysis
• Placing a trade

Special features/tools 

Exnova is full of advanced features. It also offers some special features that simplify traders’ trading experience. 

Free Demo

A free demo account is available on almost all trading platforms, and Exnova is no exception. Traders can get the best trading experience using the Exnova demo account with $10,000 in virtual funds. 

The interface of the demo account is simple, and any beginner can learn how to trade or use the platform using this account. Exnova can also put more funds into a demo account once a trader exhausts them. 

Live chats

Traders can join the trading community of Exnova by indulging in live chats on the platform. Exnova allows traders to connect and elevate their trading expertise. 

Community chats

The broker also offers a community chat feature where traders can see what’s brewing in the trading community. By joining the community chats, traders can learn from the trading experience of other traders. 

Price movement alerts

Exnova sends real-time price movement alerts to traders. It allows traders to tap the market opportunities and decide how to trade. 

Stop-loss/take-profit

Traders also get the stop-loss or take-profit feature on the trading platform. It allows traders to close their positions after reaching the desired profit level. 

Negative balance protection

The negative balance protection feature offered by Exnova does not allow traders to lose more than what they have in their Exnova trading account balance. 

Free video tutorials

Exnova is a great online trading platform for beginners wishing to learn how to trade. It offers free video tutorials that traders can watch to learn how to trade. 

Weekly newsletter

The broker updates a trader on the current market by issuing a weekly newsletter. Traders can elevate their market knowledge and get the best online trading tips. 

Minimum trade of $1

The best thing about Exnova is that traders can get started with only $1. The platform allows traders to place a trade for such a low amount. 

How to deposit and withdraw on Exnova?

The deposit and withdrawal conditions on Exnova are straightforward. 

Payment methods

Traders using Exnova have a choice among electronic wallets besides the other payment methods. Depending on their residence location, traders might need to choose the payment method. 

Exnova offers the following payment methods. 

• Credit/debit cards
• Bank transfers
• Cryptocurrencies
• Skrill
• Paypal
• Neteller
• Boleto
• Pix
• Advcash
• Webmoney
• Perfect Money

The broker allows traders to use their desired payment method and get started with the deposit process. 

Minimum deposit – How to deposit?

The minimum deposit on the Exnova trading platform is only $10. So, a trader can select a payment method and fund $10 in their trading account using the following process. 

• Go to the Exnova trading account by logging in with your credentials. 
• Select the ‘deposit’ option. 
• Choose the deposit method. 
• Enter the amount. 
• Submit the request. 

The broker will confirm your deposit, and your trading account will get credited with funds instantly. 

Withdrawal – How to withdraw?

Once a trader earns profit on Exnova and has sufficient balance in his trading account, he can withdraw funds with the following steps.

• Log into the Exnova trading account. 
• Go to the withdrawal section and click the ‘withdraw funds’ option. 
• Choose a withdrawal method. 
• Enter the amount
• Confirm and submit your Exnova withdrawal request.

Bonus

Exnova does not mention any bonus programs on its homepage. But a trader might receive bonuses from the broker, which he should accept only after reading the bonus terms and conditions. 

Additional fees on Exnova

Exnova levies the following additional fee on traders. 

Inactivity fee 

This fee applies to traders who leave their trading accounts inactive for 90 consecutive days. The inactivity fee is 10 Euros per month or equivalent in other currencies. 

Withdrawal fees

Traders get the first withdrawal fee on Exnova. However, the broker does charge traders for subsequent withdrawals. The withdrawal fee charged by Exnova also depends upon the withdrawal method and the currency that a trader chooses. 

Traders have to bear the following withdrawal fees according to the currency they choose. 

Support and education on Exnova

The broker offers traders excellent support to improve their trading experience even further. 

• Customer support – Traders get 24×7 customer support from Exnova. So, the broker allows traders to seek help at any time when they encounter a problem while trading online. Customer support with the broker is available through live chat and email. 
• Trading signals – Exnova offers trading signals from time to time. Traders can get recommendations from the broker with the help of these trading signals. 
• Economic calendars – The broker ensures traders receive news about the important economic events and happenings that might affect their trading decisions. So, the broker offers economic calendars to traders.
• Trading guides – Exnova offers traders great educational guides. So, there is enough learning content available for beginners. 
• Webinars – Exnova hosts several webinars that traders can attend to learn from the best traders. Traders can learn more about market analysis and plan their trading strategies by taking help from these webinars. 

Conclusion – Exnova is a legit broker with excellent conditions

If a trader is looking for a basic online trading platform, Exnova can serve as the best choice. The trading conditions offered by the broker are very legitimate. The minimum deposit amount charged by Exnova is also very reasonable for any trader looking to small with a low amount. 

Exnova lacks automated trading platforms such as MT4 and MT5. However, plenty of other features make up for it. Exnova is simple to use. Also, it extends a great variety of educational content for traders. Its support features are also excellent. 

This trading platform is highly suitable for beginners and traders looking for a basic trading platform. 

The advantages:

• International clients are accepted
• Professional Support
• A huge range of markets and assets
• Free demo account
• Start with a small amount of money
• Low spreads and commission

Frequently asked questions (FAQs) about Exnova:

Does Exnova provide any trading tools or indicators?

Exnova provides various trading tools and indicators to help traders analyze the markets and make informed trading decisions. These include charting tools, technical indicators, economic calendars, and market news updates.

What payment methods does Exnova accept?

Exnova accepts various payment methods for deposits and withdrawals. Traders can use bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. The availability of payment methods may vary depending on the user’s country of residence.

Does Exnova offer a demo account for practice trading?

Yes, Exnova offers a demo account with virtual funds of $10,000. 

Is Exnova suitable for beginners?

Yes, Exnova is suitable for traders of all levels. The platform offers a user-friendly interface, educational resources, and knowledge base to help users improve their trading skills.

How can a trader contact Exnova’s customer support?

Exnova provides customer support through live chat, email, and phone.