MH Markets and Exness both target the global offshore retail market with similar account structures and similar leverage. On paper they look close. In practice there are several meaningful differences in regulation, pricing and scale that matter when choosing between them. This article compares the two head to head on the things that move the needle for a real retail account.
Regulation
MH Markets holds four licences: FSCA South Africa, FSC Mauritius (GB20026131), ASIC Australia (wholesale only) and UAE Capital Market Authority. Most retail clients end up under FSC Mauritius.
Exness holds a broader regulatory footprint including FCA UK, CySEC Cyprus, FSA Seychelles, FSC Mauritius, FSCA South Africa, CMA Kenya and others. The main retail entities for most international clients are FSC Seychelles and FSC BVI rather than the tier-1 UK or Cypriot licences, so the effective regulator is often similar in strength to MH Markets' Mauritius entity.
Edge: Exness. The broader licensing footprint gives clients in more jurisdictions a local regulator option, even if the main retail entity is offshore.
Scale and track record
Exness is significantly larger. The group reports monthly trading volumes above $4 trillion across more than 800,000 active clients and has been operating since 2008. MH Markets is a newer brand built by Mohicans Markets since 2017, with a smaller client base and lower daily turnover.
Scale matters for two reasons: liquidity depth on the pricing engine and company stability during stress events. A broker processing $4 trillion per month has more pricing depth than a broker processing a few billion.
Edge: Exness.
Account types and minimum deposits
MH Markets runs three retail accounts: Standard ($50), Prime ($100) and ECN ($1,000). The ECN offers 0.0 pip spreads with a $3.50 per side commission.
Exness runs a broader menu: Standard ($10 in most jurisdictions), Standard Cent ($10), Pro ($200), Raw Spread ($200) and Zero ($200). Raw Spread offers spreads from 0.0 pips with a commission of around $3.50 per side. Zero offers 0.0 pips on 30 major instruments with a per-instrument commission.
Edge: Exness. The $10 entry point is half the MH Markets minimum, and the $200 Raw Spread minimum is one fifth of MH Markets' ECN minimum.
Spreads and commissions
MH Markets ECN spreads start at 0.0 pips with $3.50 per side commission. That is $7 per round-turn lot on a major pair, in line with IC Markets and Pepperstone.
Exness Raw Spread starts at 0.0 pips with around $3.50 per side, so the all-in cost is essentially identical on major pairs. On the Standard account, Exness is typically slightly tighter than MH Markets on EUR/USD and GBP/USD.
Edge: Tie on the raw account, slight edge to Exness on Standard.
Leverage
Both brokers offer up to 1:2000 leverage on offshore entities. Exness is known for its "unlimited leverage" option available to accounts that meet specific criteria, which is higher in headline terms than anything MH Markets offers. Leverage above 1:500 is rarely the right tool for retail traders in practice, so this is more of a marketing edge than a practical one.
Edge: Exness (on paper).
Platforms
Both brokers support MT4 and MT5. MH Markets does not offer cTrader or a proprietary platform. Exness has a proprietary Exness Terminal (web-based) in addition to MT4 and MT5, which adds a clean in-browser option for clients who do not want to install software.
Edge: Exness.
Withdrawals
MH Markets typically processes withdrawals within one to three business days. Exness is famous for its instant withdrawal policy on many e-wallet and crypto methods, which makes a real difference if you regularly move funds in and out.
Edge: Exness.
Copy trading
MH Markets has a built-in copy trading feature that integrates with MT4 and MT5. Exness has the Exness Social feature and the MetaTrader Signals marketplace, both of which function similarly.
Edge: Tie.
The verdict
On almost every measurable axis, Exness has the edge. Larger scale, broader regulatory footprint, lower minimums, faster withdrawals and a proprietary web platform. MH Markets is a real broker with credible licences, but for a head-to-head comparison with Exness, the Exness package is stronger for most retail clients.
The one scenario where MH Markets wins: if you specifically want the FSCA South Africa entity with a local Johannesburg office and the CopyKat-style copy trading setup. For every other profile, Exness is the easier recommendation.
Frequently Asked Questions
Is Exness regulated by more authorities than MH Markets?
Yes. Exness holds licences across FCA UK, CySEC Cyprus, FSCA South Africa, FSC Mauritius, FSA Seychelles, CMA Kenya and others. MH Markets holds four licences across FSCA, FSC Mauritius, ASIC (wholesale only) and UAE CMA. Both route most international retail clients to offshore entities.
Which has lower spreads, MH Markets or Exness?
On the raw ECN accounts, spreads and commissions are essentially tied at around $7 per round-turn lot on major pairs. On the Standard account, Exness is typically slightly tighter on EUR/USD and GBP/USD.
Which has a lower minimum deposit?
Exness. The Standard account starts at $10 in most jurisdictions, compared to $50 on MH Markets Standard. The Exness Raw Spread account starts at $200, compared to $1,000 on MH Markets ECN.
Are Exness withdrawals really instant?
Exness has an instant withdrawal policy on many e-wallet and cryptocurrency methods. Bank wire withdrawals still take one to three business days. MH Markets does not offer an instant withdrawal guarantee.
Which has more leverage?
Both offer up to 1:2000 on offshore entities. Exness also offers an unlimited leverage option to accounts that meet specific criteria, which is higher than the MH Markets maximum on paper. Leverage above 1:500 is rarely useful for retail traders in practice.