Problem exness is a red flag broker, they use various reasons to refuse to pay our withdrawals

[indonesia trader]

i am a senior trader in indonesia, already trading in some brokers for years.

and i am not reccommend you to trade at exness. this broker is a red flag broker. I trade on Exness with a small amount of money around 800 US and they make it difficult for me to withdraw with various reasons that change.

withdrawing from Exness has been difficult from last week and I still can't withdraw.

Initially, the withdraw button was disabled, Exness asked for documents proving that the deposit account mutation was from my name.

I have given all the documents and finally the withdraw button has been opened.

But when i wanted to withdraw, they rejected it. They have replied to my email, their reason is: Adequate trading activity must exist before making a withdrawal ..

This Exness broker is terrible. Even though in less than 1 month I have had transaction 44 open position.

This Exness broker is really scary, it means he can use various reasons to refuse to pay our withdrawals.
If with small amount of money they can do this, so It is not impossible that they will do it to large amounts of money of yours too.

The reason for rejecting withdrawals is inadequate trading activity, meaning the number of lots is not large enough and not enough open position as they want, it is Not because of the trading strategy.

This is the money we deposit and we should be able to withdraw it whenever we want.

and until now the button for me to complain is disabled by exness. I can only complain via email and even then I have to wait a long time for them to answer my email around 24 hours

 

[compu-forex]

You have 44 lots of open and closed trades?

 

[compu-forex]

Initially, the withdraw button was disabled, Exness asked for documents proving that the deposit account mutation was from my name.

As an experienced trader, this should not surprise you. Many brokers require source of funds information.

 

[indonesia trader]

You have 44 lots of open and closed trades?

44 open position with 0.01 lot. I am a swing trader with averaging style.
and now i am still have 4 open postion also ..as my attachment screenshot on my real acc at exness

 

[indonesia trader]

As an experienced trader, this should not surprise you. Many brokers require source of funds information.

i understand that and i dont mind at all. but the problem is not about document or source of fund because i already send the documents and prove that the source of the money is legit and under my name.

Their reason for rejecting withdrawals is inadequate trading activity, meaning the number of lots is not large enough and not enough open position as they want, it is Not because of the trading strategy or source of fund.

you can read in attachment when they reply me by email.

This is our legit money to deposit and we should be able to withdraw it whenever we want.
easy to deposit but difficult to withdrawal.. broker exness is scam broker

 

[compu-forex]

Many brokers have minimum volume requirements. Depositing and withdrawing without trading carries 2 red flags. Firstly, money laundering and secondly cashback abuse from payment providers that offer deposit incentives.

It would appear that you have less than 0.5 lots of trading activity. Brokers don't publish their explicit volume requirements as I think it can be complex. If you close and take profits, leaving your initial deposit intact, then likely it doesn't matter how much or little volume you have. I also suspect their is a time element to it, so if the funds are in an account for a year, they might have lighter volume requirements.

That said, I have been told by an unrelated broker that they like to see about 30 lots of activity per $10 000. This suggests that you shoud be looking for about 2.5 lots. Just trade 2 lots of LTCUSD which you open and close after 3 minutes. The trade will cost you around $1 in commission & spread. Then you should be able to withdraw. Just make sure in the contract specifications that the contract size is 1, as I can't guarentee your account is the same as mine.

 

[indonesia trader]

It turns out that it's not just me who experienced this at Exness, other trader friends have also experienced it..

See the attachment for their testimonies about this lower grade broker Exness

easy to deposit but difficult to withdrawal.

 

[indonesia trader]

Many brokers have minimum volume requirements. Depositing and withdrawing without trading carries 2 red flags. Firstly, money laundering and secondly cashback abuse from payment providers that offer deposit incentives.

It would appear that you have less than 0.5 lots of trading activity. Brokers don't publish their explicit volume requirements as I think it can be complex. If you close and take profits, leaving your initial deposit intact, then likely it doesn't matter how much or little volume you have. I also suspect their is a time element to it, so if the funds are in an account for a year, they might have lighter volume requirements.

That said, I have been told by an unrelated broker that they like to see about 30 lots of activity per $10 000. This suggests that you shoud be looking for about 2.5 lots. Just trade 2 lots of LTCUSD which you open and close after 3 minutes. The trade will cost you around $1 in commission & spread. Then you should be able to withdraw. Just make sure in the contract specifications that the contract size is 1, as I can't guarentee your account is the same as mine.

well, you can see in my attachment even when i try to withdraw 50 usd they rejected it, meanwhile i still have 825 usd on my exness account

anyway i dont use bonus or cashback or rebate, i just trading as normal.

 

[compu-forex]

anyway i dont use bonus or cashback or rebate, i just trading as normal.

I wasn't suggesting that you engage in any of these practices. I'm simply pointing out that these requirements, whilst painful, are actually quite common across many brokers.

 

[Anti-Scam]

The fact that the money came from the trader then the broker should not have refused the withdrawal is outrageous.I suggest you report it to the regulator.

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