As an avid trader, I am always on the lookout for new and innovative trading platforms. One of the platforms that has recently caught my attention is Exness. I have been using it for a while now and would like to share my thoughts on the platform in this Exness Nigeria review.
Contents:
Exness Pros and Cons
Pros
- Tight spreads
- 24/7 support.
- Multiple account types.
- Offers Virtual Private Server (VPS).
- Social Trading.
- Low Fees.
- Swap-Free/Islamic Account Provided
- High Maximum Leverage
- Scalping allowed
- Instant Withdrawals
Cons
- No USA Clients Permitted
Let’s start with the pros. One of the best things about Exness is the tight spreads. This means that the difference between the bid and ask price is minimal, which is great for traders who are looking to make a profit. In addition, the 24/7 support is fantastic. I have reached out to their customer support team several times, and they have always been prompt and helpful. Another pro is the multiple account types available, which caters to traders with different levels of experience.
Exness also offers a Virtual Private Server (VPS), which is a great feature. The VPS allows me to run automated trading strategies 24/7, without the need for my computer to be on at all times. The social trading feature is also a plus, as it allows me to follow and copy the trades of other successful traders.
In terms of fees, Exness has some of the lowest fees in the market, which is a definite pro. The swap-free/ Islamic account option is also an excellent feature for traders who adhere to Islamic finance principles. Lastly, the high maximum leverage and the allowance of scalping are other pros that make Exness an attractive platform.
The main con of Exness is that it does not allow clients from the USA.
Exness Regulation
- Financial Conduct Authority (FCA). Financial Services Register number 730729.
- Financial Sector Conduct Authority (FSCA). Financial Service Provider (FSP) with FSP number 51024.
- Cyprus Securities and Exchange Commission (CySEC) license number 178/12
- Financial Services Authority (FSA). Seychelles Financial Services Authority (FSA) with license number SD025
- Financial Services Commission (FSC) in BVI. registration number 2032226 and investment business licence number SIBA/L/20/1133
- Capital Markets Authority (CMA). license number 162
- Central Bank of Curaçao and Sint Maarten (CBCS). license number 0003LS
- Financial Services Commission (FSC) in Mauritius. registration number 176967 and Investment Dealer (Full Service Dealer, Excluding Underwriting) licence number GB20025294
One of the most important aspects of a trading platform is regulation. Exness is regulated by several regulatory bodies, including the Financial Conduct Authority (FCA), the Financial Sector Conduct Authority (FSCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority (FSA) of Seychelles, the Financial Services Commission (FSC) in BVI, the Capital Markets Authority (CMA), the Central Bank of Curaçao and Sint Maarten (CBCS), and the Financial Services Commission (FSC) in Mauritius.
This level of regulation provides traders with the assurance that Exness is a reputable and trustworthy platform.
Exness Nigeria Trading Accounts
| Condition | Raw Spread | Zero | Pro | Standard | Standard Cent |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $200 | $200 | Depends on payment system | Depends on payment system |
| Spread | From 0.0 | From 0.0 | From 0.1 | From 0.3 | From 0.3 |
| Commission | Up to $3.50 each side per lot | From $0.2 each side per lot | No commission | No commission | No commission |
| Maximum leverage | 1:Unlimited | 1:Unlimited | 1:Unlimited | 1:Unlimited | 1:Unlimited |
| Instruments | Forex, metals, cryptocurrencies, energies, stocks, indices | Forex, metals, cryptocurrencies, energies, stocks | Forex, metals, cryptocurrencies, energies, stocks | Forex, metals, cryptocurrencies, energies, stocks, indices | Forex, metals |
| Minimum lot size | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Maximum lot size | 200 (7:00 – 20:59 GMT+0), 20 (21:00 – 6:59 GMT+0) | 200 (7:00 – 20:59 GMT+0), 20 (21:00 – 6:59 GMT+0) | 200 (7:00 – 20:59 GMT+0), 20 (21:00 – 6:59 GMT+0) | 200 (7:00 – 20:59 GMT+0), 20 (21:00 – 6:59 GMT+0) | 200 |
| Maximum number of positions | Unlimited | Unlimited | Unlimited | Unlimited | 1000 |
| Hedged margin | 0% | 0% | 0% | 0% | 0% |
| Margin call | 30% | 30% | 30% | 60% | 60% |
| Stop out | 0% (see details about stocks) | 0% (see details about stocks) | 0% (see details about stocks) | 0% (see details about stocks) | 0% (see details about stocks) |
| Order execution | Market | Market | Instant (forex, metals, energies, stocks, indices), market (cryptocurrencies) | Market | Market |
| Swap-free | Available | Available | Available | Available | Available |
Exness offers multiple trading accounts, including the Raw Spread, Zero, Pro, Standard, and Standard Cent accounts. Each account has different features, such as the minimum deposit required, spreads, commission, maximum leverage, and instruments available.
Exness Nigeria offers a great trading experience for Nigerian traders with a range of features that cater to their needs. For instance, Exness Nigeria allows Nigerian traders to open NGN accounts, which is a convenient option that helps traders avoid currency conversion fees.
Additionally, the process of making deposits and withdrawals is free of charge for Nigerian traders, which makes it easy and affordable for them to manage their trading accounts. This is particularly important because trading involves a lot of financial transactions, and minimizing costs can help traders achieve better profitability.
Available Trading Instruments
Exness offers a range of trading instruments, including forex, metals, cryptocurrencies, energies, stocks, and indices.
With more than 100 forex pairs and the ability to trade some of the biggest names in tech and industry, such as Google, Amazon, and Tesla, there is a wide range of trading opportunities available.
Deposit and Withdrawals
| Deposit facility | Minimum deposit | Deposit time | Minimum withdrawal | Withdrawal time |
|---|---|---|---|---|
| Bitcoin | $10 | within 24 hours | $10 | within 24 hours |
| Bank Card | $10 | within 30 minutes | $10 | within 24 hours |
| Skrill | $10 | within 30 minutes | $10 | within 24 hours |
| Neteller | $10 | within 30 minutes | $4 | within 24 hours |
| Perfect Money | $10 | within 30 minutes | $2 | within 24 hours |
| Singapore Internet banking | – | – | $160 | within 5 hours |
| SticPay | $10 | within 30 minutes | $1 | within 24 hours |
| USD Coin (USDC ERC20) | $10 | within 24 hours | $100 | within 24 hours |
| Tether (USDT ERC20) | $10 | within 24 hours | $100 | within 24 hours |
| Tether (USDT TRC20) | $10 | within 24 hours | $10 | within 24 hours |
| Wire Transfer | $10000 | up to 5 days | $250 | up to 5 days |
| Webmoney | – | – | $1 | within 24 hours |
Exness offers several deposit and withdrawal options, including Bitcoin, Bank Card, Skrill, Neteller, Perfect Money, Singapore Internet banking, SticPay, USD Coin (USDC ERC20), Tether (USDT ERC20), Tether (USDT TRC20), Wire Transfer, and Webmoney. The minimum deposit and withdrawal amounts vary depending on the payment method chosen, and the processing time is relatively fast.
How do I deposit money into Exness in Nigeria?
So you want to deposit money into your Exness account in Nigeria? Well, here are the simple steps you need to follow:
- Log in to your Exness Personal Area on our home page.
- Click on the Deposit section.
- Select the payment system you wish to use.
- In the pop-up menu, choose the account you wish to deposit funds into.
- Enter the currency and amount of your deposit and click Next.
- Double check your deposit details and click Confirm Payment.
- You will be redirected to the website of your chosen payment system, where you can complete your transfer.
It’s that easy! So go ahead and make your deposit with confidence and ease.
Exness Trading Platforms
Exness offers several trading platforms, including the Exness Trade app, Exness Terminal, MetaTrader 5, MetaTrader 4, MetaTrader WebTerminal, and MetaTrader Mobile.
Each platform has its own unique features, but all of them are user-friendly and provide access to a range of trading tools.
Other Tools
Exness provides several additional tools to help traders, such as analytical tools, an investment calculator, an economic calendar, a currency converter, tick history, VPS hosting, and Trading Central Web TV.
The Trading Central WebTV is a particularly useful tool, as it provides daily market analysis, trade ideas, and insights into the latest market trends.
How can I verify my Exness account in Nigeria?
If you want to verify your Exness account in Nigeria, here’s what you need to know:
- Verification typically takes less than 28 hours, and it’s a crucial step for the security of your account.
- Exness will need your Economic Profile, which is a short questionnaire that asks about your economic knowledge and financial background.
- You’ll also need to provide proof of identification, which can be any government-issued document such as a Passport, national ID card, driving license, or other government-issued ID.
- In addition, you must provide proof of address, which must be issued in your name within the last 6 months and contain your full name, current residential address, issue date, and issuing authority.
- It’s important to note that if your Exness account is not verified within 30 days of registration, you will not be able to access deposits, transfers, and trading functions.
Don’t worry, though – the verification process is simple and straightforward. Just follow these steps, and you’ll be on your way to a verified Exness account in no time.
Final Verdict
Overall, I have been very impressed with Exness. The tight spreads, multiple account types, and range of trading instruments available make it an attractive platform for traders of all levels of experience. The fact that it is regulated by several regulatory bodies also provides traders with the assurance that it is a reputable and trustworthy platform. The only downside is that it does not allow clients from the USA.
The various deposit and withdrawal options, along with the fast processing times, make it easy to manage my account, while the range of trading platforms and additional tools provide me with the necessary resources to make informed trading decisions. With its low fees, swap-free/ Islamic account option, and high maximum leverage, Exness is a platform that I would highly recommend to other traders.
FAQS
What is Exness?
Exness is an online trading platform that allows traders to buy and sell a wide range of financial instruments, including forex, metals, cryptocurrencies, energies, stocks, and indices.
Is Exness a regulated broker?
Yes, Exness is a regulated broker. It is licensed and regulated by several regulatory bodies, including the Financial Conduct Authority (FCA), the Financial Sector Conduct Authority (FSCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority (FSA) of Seychelles, the Financial Services Commission (FSC) in BVI, the Capital Markets Authority (CMA), the Central Bank of Curaçao and Sint Maarten (CBCS), and the Financial Services Commission (FSC) in Mauritius.
What trading platforms does Exness offer?
Exness offers several trading platforms, including the Exness Trade app, Exness Terminal, MetaTrader 5, MetaTrader 4, MetaTrader WebTerminal, and MetaTrader Mobile.
What are the deposit and withdrawal options available on Exness?
Exness offers several deposit and withdrawal options, including Bitcoin, Bank Card, Skrill, Neteller, Perfect Money, Singapore Internet banking, SticPay, USD Coin (USDC ERC20), Tether (USDT ERC20), Tether (USDT TRC20), Wire Transfer, and Webmoney.
What are the minimum deposit and withdrawal amounts on Exness?
The minimum deposit and withdrawal amounts vary depending on the payment method chosen. For example, the minimum deposit amount for a Bank Card is $10, while the minimum withdrawal amount is $10. The processing time for deposits and withdrawals is relatively fast, with most methods processed within 24 hours.
What are the trading accounts available on Exness?
Exness offers multiple trading accounts, including the Raw Spread, Zero, Pro, Standard, and Standard Cent accounts. Each account has different features, such as the minimum deposit required, spreads, commission, maximum leverage, and instruments available.
Does Exness offer a Virtual Private Server (VPS)?
Yes, Exness offers a VPS, which allows traders to run automated trading strategies 24/7, without the need for their computer to be on at all times.
How can I contact Exness customer support?
Exness customer support is available 24/7 and can be contacted through the live chat feature on the website or through email.
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