Want to dive into forex trading but don’t know where to start? As a Nigerian trader looking to access this exciting market, one of the first steps is opening an account with a reputable broker like Exness.
However, before you can execute your first trade, you need to know:
What is the Exness minimum deposit to fund an account in Nigeria?
Understanding Exness’s minimum deposit requirement allows you to efficiently fund your account and start trading. Whether you want to open a Standard, Zero, Raw spread, or Pro account, this guide will cover:
- Exness account options and key features
- Base trading currencies (Naira, USD, EUR, GBP)
- Minimum deposits for each currency
- Available funding methods (cards, bank transfer, cash)
- Step-by-step deposit instructions and tips
With some brokers requiring hefty deposit minimums, Exness stands out by facilitating access, with low barriers to entry starting from 1,600 Naira. Let’s get your account funded and ready to trade!
Overview of Exness Account Options
Exness offers four main account options for Nigerian traders – Standard, Pro, Raw Spread, and Zero.
Standard Account:
- Minimum deposit: $1 (≈1,650 NGN)
- Spread: From 0.20 pips
- Commission: None
Pro Account:
- Minimum deposit: $500
- Spread: From 0.10 pips
- Commission: None
Raw Spread Account:
- Minimum deposit: $500
- Spread: From 0.00 pips
- Commission: 3.50 USD per 100k traded
Zero Account:
- Minimum deposit: $500
- Spread: From 0.00 pips
- Commission: 0.20 USD per lot rollover fee
With its fractional micro lot trading, the Standard account allows Nigerian traders to enter the forex markets with a minimum $1 deposit or about 1,650 NGN. For more advanced trading, Exness’s Pro, Raw and Zero accounts provide tighter spreads and direct market access from a $500 initial deposit.
Exness Minimum Deposit in Nigeria
As a Nigerian trader, you have flexibility on Exness to select a base currency depending on your needs and existing capital. Minimum deposits will then apply in that currency.
Specifically, you can open an Exness account denominated in:
- Naira – Minimum 1,650 NGN
- US Dollars – Minimum $1
- Euros – Minimum €1
- British Pounds – Minimum £1
So if you have surplus funds in USD for example, it may be preferable to open the account in dollars. Or existing Naira savings can facilitate getting started with a 1,650 Naira deposit.
While the Pro, Raw and Zero accounts require heftier $500 minimums later, the Standard account’s accessibility with fractional micro-lots lets Nigerians start trading forex from just 1,650 Naira. This low barrier to entry is a key advantage of Exness for accessing global currency markets.
No matter what account you select, you can initiate positions in various currency pairs while benefiting from favorable trading conditions and lightning fast execution speed on Exness’s globally distributed infrastructure.
Read also! Exness Nigeria Review
Deposit Options Available for Nigerians
As an internationally regulated broker, Exness offers Nigerian traders various convenient payment methods to fund trading accounts, including:
Credit/Debit Cards (Visa, Mastercard)
The fastest and simplest option. Just enter your card details to deposit in seconds. Note that local Nigerian bank cards may sometimes be blocked for overseas use.
Bank Wire Transfers
Fund transfers directly from your bank account. Local and international bank transfers are enabled. Expect 1-3 working days for processing.
eWallets (Neteller, Skrill, Fasapay)
Instantly deposit via these online payment processors and eWallet services. Great convenience but transaction fees apply.
Cryptocurrency (BTC, ETH, XRP etc)
For crypto owners, transfer from Bitcoin, Ethereum or other major coins into your Exness account. Rapid and flexible.
Local Bank Transfers
Native transfer options through Nigerian banks like GTBank, Access Bank and Zenith Bank. Low fees with good Naira liquidity.
Cash Deposits
Walk into banks like GTBank or UBA and deposit cash over the counter into your Exness account when needed.
With strong Nigerian payment connectivity, Exness enables multiple ways to fund your brokerage account securely in both local currency (Naira) as well as traditional forex majors like USD and EUR.
How to Make Deposit – Step-by-Step Instructions
Depositing into your Exness account is straightforward across the available payment methods:
Cards
- Log into the Exness trading platform
- Navigate to the Deposit page under your profile
- Select ‘Bank Card’ as the method
- Enter your Visa/Mastercard details and desired deposit amount
- Confirm transfer once all details are verified
Bank Transfers
- Obtain Exness bank account details for transfers
- Initiate transfer through your bank’s web/app portal or in-branch
- Upload swift/transfer receipt on Exness as proof
- Deposit generally reflected in 1-3 days
eWallets
- Login to eWallet account (Skrill, Neteller etc)
- Add Exness as a payee using provided email or Merchant ID
- Initiate deposit transfer to Exness
- Login to Exness to view updated capital
Crypto
- From crypto wallet, withdraw funds to Exness-provided BTC/ETH public address
- Exness matches address for account credit
- Crypto reflected in real-time on Exness account balance
To ensure smooth deposits:
- Carefully enter details to avoid errors
- Keep payment receipts as records
- Reach Exness support if issues
Following these step-by-step guides for each method allows seamless, predictable funding so you can focus on your trading!
Conclusion
As a Nigerian trader, getting started on a global platform like Exness is now more accessible than ever. With the ability to open a Standard account from just 1,650 Naira, or approx $1, the barriers to entering the markets are low.
We covered the range of account options available, as well as the specific minimum deposits for both Naira or foreign currency bases. While the Pro-level accounts require $500, Standard lets you test the markets risk-free from NGN 1,650 only.
Between comprehensive local payment connectivity through cards, bank transfers and cash, as well as global channels like crypto, funding your account is straightforward. Follow the step-by-step guides provided above for your preferred method and you can start trading in no time!
Exness sets itself apart by opening up forex, commodities, metals, indices and more to Nigerian traders with fractional flexibility, lightning execution and robust platforms. Compare the minimum deposits against other brokers locally or abroad and the advantage stands out clearly.
So why wait? Register an account to experience these benefits today and pursue your trading aspirations!
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FAQs
- What is the Exness minimum deposit in Naira?
The minimum deposit to open an Exness Standard account in Naira is 1,650 NGN.
- Can I open an Exness account with $1?
Yes, the Exness Standard account has a minimum deposit of $1 or approx 1,650 NGN. This allows easy market access.
- What deposit options does Exness offer Nigerians?
Payment options include local bank transfers, cards, cash deposits, cryptocurrency, and eWallets like Neteller & Skrill.
- Are there fees for making deposits on Exness?
Deposits through most channels are free, but some payment gateways like eWallets charge transaction fees. Bank cash handling charges may apply too.
- How long do Exness account deposits take to reflect?
Digital transfers through cards and crypto are reflected almost instantly while bank transfers can take 1-3 days to show.
- What is the highest deposit I can make on my Exness Naira account?
There are no set maximum limits for deposits. You can fund any amount based on account limits and trading needs.
- Can I use my GTBank account to fund Exness?
Yes, you can directly deposit or transfer from a GTBank Naira account to your Exness wallet seamlessly.
- Is Skrill good for Exness deposits from Nigeria?
Yes, Skrill eWallet allows cheap, convenient Exness deposits for Nigerians with near-instant transfers.
- Which Exness account has the highest minimum deposit?
The Pro, Raw, and Zero accounts require a $500 minimum deposit, compared to just $1 for the Standard account.
- What is the best deposit method for Exness from Nigeria?
Local bank transfers offer the optimal balance of affordability, speed, and reliability for Nigerian Exness customers.