Exness Overview
?Overall, Exness is a low-risk CFD and Forex broker with multiple regulations and authorization. Exness not only offers dynamic and flexible account types but offers some of the best trading conditions in the industry. Exness is proud to have physical offices in Nigeria.
? Exness, founded in 2008, quickly rose to a monthly trading volume of over $180 billion and 15,000 new accounts registered each month by 2014. Exness traders now have access to over 200 financial products, several retail account types, and many resources.
? Exness is one of the most popular brokers even though it is not yet regulated by the Capital Markets Authority (CMA) in Nigeria.
? The Exness Group’s website has been translated into 18 languages, and customer service is provided 24 hours a day, seven days a week in 13 different languages.
? Additionally, users have access to leverage, which may significantly reduce margin needs and allow for more flexible management of trading methods. Another benefit of Exness is that traders can withdraw cash instantly using a variety of electronic payment channels, giving traders complete control over their funds.
? This Exness review will provide Nigerian traders with the comprehensive details that they need to consider whether the broker is suited towards their unique trading objectives and needs.
Distribution of Traders
? The distribution of traders with Exness is as follows:
➡️️ Thailand – 44%
➡️️ Vietnam – 26.5%
➡️️ South Africa – 9.2%
➡️️ India – 6.7%
➡️️ Saudi Arabia – 2.4%
Popularity among traders who choose Exness
? While Exness does not visibly have a large market share in Nigeria, many Nigerian traders make use of this innovative, reputable Forex and CFD broker, placing it firmly in the Top 10 brokers for Nigerian traders.
Exness at Glance:
| ?️ Headquartered | Cyprus, with offices in United Kingdom, Seychelles, South Africa, the British Virgin Islands, and Curaçao |
| ?️ Nigerian Based Office | No |
| ? Accepts Nigerian Traders? | Yes |
| ? Year Founded | 2008 |
| ? Nigerian Office Contact Number | None |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, Seychelles |
| ?License Number | Seychelles – SD025 Curaçao – 0003LSI British Virgin Islands – SIBA/L/20/1133 Mauritius – GB20025294 South Africa – FSP 51024 Cyprus – 178/12 United Kingdom – 730729 |
| ⚖️ CBN Regulation | None |
| ✴️ Regional Restrictions | The United States |
| ☪️ Islamic Account | Yes |
| ? Demo Account | Yes |
| ? Retail Investor Accounts | 5 |
| ? Offers a Nigerian Account? | Yes |
| ? Dedicated Nigerian Account Manager? | Yes |
| ? Maximum Leverage | Unlimited |
| ? Leverage Restrictions for Nigeria? | No |
| ? Minimum Deposit (₦) | 41,000 (or equivalent to $10) |
| ? Nigerian Naira Deposits Allowed? | Yes |
| ? Active Nigerian Trader Stats | 1.3 million |
| ? Active Nigerian-based Exness customers | 1,000+ |
| ? Nigeria Daily Forex Turnover | $1.25 million+ |
| ? Deposit and Withdrawal Options | Bitcoin Debit Card Credit Card Internet Banking Skrill Neteller Perfect Money Tether (USDT OMNI) WebMoney Mybux Ozow |
| ? Segregated Accounts with Nigerian Banks? | Yes |
| ? Trading Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| ? Tradable Assets | Forex Metals Crypto Energies Indices Stocks |
| ? Offers USD/NGN currency pair? | No |
| ? USD/NGN Average Spread | N/A |
| ? Offers Nigerian Stocks and CFDs | No |
| ?? Languages supported on Website | English, French, Indonesian, Portuguese, Spanish, Vietnamese, Arabic, Thai, Chinese (Simplified), Japanese, Korean, Urdu, Bengali, Hindi |
| ? Customer Support Languages | Multilingual |
| ? Customer Service Hours | 24/7 |
| ? Nigerian-based customer support? | No |
| ? Bonuses and Promotions for Nigerians | None |
| ✴️ Education for Nigerian beginners | No |
| ? Proprietary trading software | Yes |
| ? Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️ Is Exness a safe broker for Nigerians? | Yes |
| ✔️ Rating for Exness Nigeria | 8/10 |
| ✔️ Trust score for Exness Nigeria | 97% |
| ? Open an account | ? Open Account |
Exness Regulation and Safety of Funds
Exness Regulation in Nigeria
? While Exness does not hold local licenses or authorization to provide derivatives trading in Nigerian, Exness is a safe and reputable broker.
Exness Global Regulations
? Exness is a globally-based, multi-regulated broker and business that operates through several global entities with regulations and authorization as follows:
➡️ The Financial Services Authority (FSA) in Seychelles oversees and regulates Nymstar Limited under license number SD025, with the entity known as a reputable Securities Dealer in the region.
➡️ The Central Bank of Curacao and Sint Maarten (CBCS) in Curacao regulates and authorizes Exness B.V as a Securities Intermediary. Exness B.V operates under license number 0003LSI, and it provides services to persons and territories outside the European Economic Area (EEA).
➡️ Exness VG Limited is approved and regulated by the Financial Services Commission (FSC) of the British Virgin Islands, with registration number 2032226 and license number SIBA/L/20/1115.
➡️ The Financial Services Commission (FSC) of Mauritius authorizes and regulates Tortelo Limited under registration number 176967, with the subsequent license number GB20025294. Tortelo Limited identifies it as an Investment Dealer or Full-Service Dealer excluding underwriting.
➡️ Vlerizo (Pty) Limited is licensed by the Financial Sector Conduct Authority (FSCA) in South Africa as a genuine and reputable Financial Services Provider (FSP) with license number 51024.
➡️ Under license number 178/12, the Cyprus Securities and Exchange Commission (CySEC) regulates and authorizes Exness (Cy) Ltd.
➡️ In the United Kingdom, Exness (UK) Limited is licensed as well as overseen by one of the most demanding market regulators today namely the Financial Conduct Authority (FCA). Exness (UK) Limited operates under Financial Services Register number 730729 to operate as an Investment Firm.
Exness Client Fund Security and Safety Features
? Exness maintains all customer monies in segregated accounts at top-tier institutions in all locations where the broker provides services.
? Exness is furthermore a member of the Financial Commission. The Financial Commission is responsible for resolving disputes in the financial services sector, with a particular emphasis on the foreign currency market.
? The Financial Commission offers a variety of services, including a compensation fund that might be seen as an insurance policy for the clients of its members, including Exness. The Financial Commission’s coverage per customer is up to €20,000.
Account Types and Features
? Both Standard Accounts and Professional Accounts are offered by Exness. Traders with varying degrees of trading expertise and distinct trading styles will find a variety of account choices in these two categories.
? Exness offers a variety of live trading accounts, including:
➡️ Standard Account
➡️ Standard Cent Account
➡️ Raw Spread Account
➡️ Zero Account
➡️ Pro Account
Live Trading Accounts
Standard Account
?Standard Accounts are suitable for all traders, regardless of their level of experience, talent, or trading style. They are the most common form of account offered by most forex and CFD brokers.
? This account has the following characteristics.
| ? Account Feature | ? Value |
| ? Account Base Currencies | EUR and USD |
| ? Minimum Deposit | 400 Nigerian Naira equivalent to $1 |
| ? Maximum Deposit Amount | None |
| ? Average spreads | From 0.0 pips |
| ? Commissions | From 0.03% to 0.07% |
| ✴️ Maximum Trade Volume | 10,000 lots |
| ✴️ Leverage Ratios | Between 1:1 and up to 1:1000 |
| ? Margin for Locks | 25% |
| ? Margin Call | 30% |
| ⚖️ Stop-out | 10% |
| ⚖️ Order Execution | Instant |
Standard Cent Account
This account is ideal for novice traders who want to get a taste of the market but are not ready to put their money at risk. Also suitable for skilled traders who want to test their trading techniques in actual market circumstances without the danger of loss, this account is the best option.
| ? Account Feature | ? Value |
| ? Account Base Currencies | EUR and USD |
| ? Minimum Deposit | 400 Nigerian Naira equivalent to $1 |
| ? Maximum Deposit Amount | None |
| ? Average spreads | Between 3 to 7 pips |
| ? Commissions | None |
| ✴️ Maximum Trade Volume | 10,000 lots |
| ✴️ Leverage Ratios | Between 1:1 and up to 1:1000 |
| ? Margin for Locks | 25% |
| ? Margin Call | 30% |
| ⚖️ Stop-out | 10% |
| ⚖️ Order Execution | Instant |
Raw Spread Account
Scalpers, day traders, and algorithmic traders can benefit from this account type, which offers competitive and low spreads.
| ? Account Feature | ? Value |
| ? Account Base Currencies | EUR and USD |
| ? Minimum Deposit | 400 Nigerian Naira equivalent to $1 |
| ? Maximum Deposit Amount | None |
| ? Average spreads | 0.0 pips |
| ? Commissions | From 0.03% to 0.07% |
| ✴️ Maximum Trade Volume | 10,000 lots |
| ✴️ Leverage Ratios | Between 1:1 and up to 1:1000 |
| ? Margin for Locks | 25% |
| ? Margin Call | 30% |
| ⚖️ Stop-out | 10% |
| ⚖️ Order Execution | Instant |
