Business
Exness Nigeria Review 2022 – Minimum Deposit & Regulation
Traders can trade on financial products like currencies, precious metals, energy, equities, and indices with Exness, a forex and CFD broker. The company accepts traders from Nigeria and has authorization from numerous leading authorities. To learn more about the trading terms offered by the broker, read our review.
To open an Exness Professional live trading account, a USD 500 minimum deposit is needed. Depending on the payment system, a minimum deposit amount will be required to register for a Standard Account.
In this Exness Nigeria Review 2022, we will discuss what is the minimum deposit for Exness and regulation.
Deposit and Withdrawal for Exness
Exness offers a selection of many adjustable deposit and withdrawal methods. This contains the most widely used e-wallets and cryptocurrency wallets in the world.
How to withdraw money from Exness?
There are no fees associated with deposits or withdrawals at Exness. Withdrawal methods include the two that have been used the most recently, Bank Wire and Cards. Before making any transfers, check with customer care to see if any fees might be charged because of your country of residence or the payment processor himself.
.Exness provides infinite trading leverage for all account types, including 2 Standard Accounts and 3 Professional Accounts. In other words, you can start a trade position worth 1,000 times or more than your initial investment.
For instance, you can open a trade position of $1,000,000 or more with a deposit of $1,000 and no leverage restrictions. Higher leverage also increases the chance of loss, depending on your risk level and the amount of power you will use.
Some instruments, however, have fixed preset leverage that cannot be altered. If you don’t close at least 10 deals, your maximum power will be 1:2000. Otherwise, you can access limitless leverage.
Standard Accounts for Exness
The Standard Account and Standard Cent account are the two Standard Account categories offered by Exness.
1) Standard Account: Available on the MT5 platform, Standard Accounts are designed for all levels of traders and offer trading in currencies, metals, energy, stocks, indices, and cryptocurrencies.
This account has no commission fees, spreads that start at 1 pip for majors like EURUSD, and swap fees for holding open positions after the market has closed. You can trade with available leverage with a maximum lot size of 200 and a minimum lot size of 0. For this kind of account, the minimal deposit is $10.
2) Standard Cent Account: A subtype of the Exness Standard Account created with new traders in mind is the Exness Standard Cent Account. You can only access this account on the MT4 platform, and it only allows you to trade in foreign exchange and metals.
Commission-free Standard Cent Account spreads begin at 1 pip for majors like EURUSD. If an open position rolls over to the following trading day before closing, you are charged swap fees.
Leverage on the account is limitless. The minimum and maximum lot sizes are 0.01 and 200, respectively. This account’s minimum deposit is similarly $10.
Trading conditions for Nigerian merchants of the EXNESS Group
Before choosing to deal with a particular company, assessing the current trading environment is essential. Analysts from the Dealers Union have compared the trading terms offered by the EXNESS Group to Nigerian traders. The specialists examined the minimum deposit, trading platforms, leverage, and other significant data influencing a trader’s broker selection. You will naturally want to know how long Exness vs IC Markets have been in business and what reputation Exness and IC Markets have.
Fees & Commissions for the EXNESS Group
Analysts from Dealers Union examined the commissions and charges made by EXNESS Group to traders from Nigeria. All forms of trading and non-trading fees that traders incur were assessed within the context of the analysis.
The buying and selling of foreign currencies on the Forex market are entirely legal. Experts govern the transactions at the Central Bank of Nigeria, and trading income is subject to taxation and tax declaration.
Does the USD 500 Exness Minimum Deposit apply to all accounts?
No, the Exness Standard and Standard Cent Accounts’ minimum deposit requirements will vary depending on the payment method selected.
Can I use Bitcoin with Exness as a deposit option?
Yes, Bitcoin is accepted as a deposit currency by Exness.
All Exness Deposits are quick.
No, it can take up to 72 hours to complete a Bitcoin or Tether deposit.
Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.
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Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.
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