Making withdrawals is the end goal when trading, as you get to enjoy the fruits of your strategies in cold hard cash. As a regulated broker, Exness has clear withdrawal policies and procedures for Nigerian traders to seamlessly cash out funds.
But before initiating payouts, it’s key to understand the minimum withdrawal requirements on Exness. Knowing the threshold for transfers via your preferred withdrawal channel ensures you can access your money with no frustrating delays.
This guide will break down all the key details around Exness withdrawals for Nigerians:
- Exness minimum withdrawal limits for Naira/USD/EUR/GBP
- Processing times through different methods
- Step-by-step tutorials for smooth withdrawals
- Solutions to common withdrawal issues
Whether you want to transfer profits to your local bank account or globally via e-wallets, we’ve got you covered. Read on to know Exness minimum withdrawals as a Nigerian trader!
Exness Minimum Withdrawal Limits
The good news is that Exness allows very low minimum withdrawals across all account types and currencies. The baseline threshold is $1 for international transfers.
For Nigerian traders withdrawing in local currency, you can cash out from just ₦1,250 Naira across all Exness accounts.
The minimums in other currencies are also fractional for accessibility:
- €1 minimum withdrawal for Euro accounts
- £1 minimum withdrawal for GBP accounts
This means whichever currency your Exness account is denominated in, you can withdraw modest amounts at a time without hassle.
Compared to some brokers setting $100+ minimum withdrawal limits, Exness lets you transfer out small profits to local accounts or payment cards fluidly. Whether trading spot forex, crypto, commodities or shares, realizing even small wins is made smooth.
So once ready, initiating ₦1,250 or ₦5,000 withdrawals is frictionless as per local banking norms. Exness does the heavy lifting in enabling global withdrawal connectivity.
Read also! Exness Minimum Deposit in Nigeria
Withdrawal Processing Times
A key question when making withdrawals is “How long does Exness fund withdrawal take?”. Exness enables multiple payout channels for Nigerian traders with different transfer speeds:
Bank Wire Transfers: 2-5 Business Days
The most formal route, expect domestic or international bank wires to take 2-5 business days to reflect in your Nigerian bank account.
eWallets (Skrill, Neteller): Under 24 Hours
Near-instantaneous withdrawals with eWallet services like Skrill and Neteller reaching your account in under 24 hours in most cases.
Debit/Credit Cards: Instant
If you connect a Nigerian debit or credit card to your Exness wallet, withdrawals land instantly as funds are pushed to the card.
Cryptocurrency Wallets: Under 1 hour
For crypto traders, transfers from Exness to external Bitcoin, Ethereum or Tether wallets usually processes under an hour.
Local Transfers: 1-3 Days
For native transfers through Nigerian banks, withdrawals via methods like direct bank deposit take 1-3 working days for settlement.
So as you can see, eWallets and payment cards are fastest while bank wires meet compliance needs. Choose based on your priorities and Exness processes payouts efficiently.
Withdrawal Charges/Fees
When moving funds out of Exness, a question that often arises is – will there be any fees or charges to pay?
Exness itself does NOT charge any withdrawal fees for any payment method for Nigerian traders. So there are no hidden Exness costs when transferring funds out. However, some third party payment systems may impose a small transaction fee on their end
Here’s an overview:
Bank Wire Transfers – Variable Fees
For international bank wire transfers, correspondent and intermediary bank charges may apply, which are variable. These are deducted from the withdrawal amount.
Local Bank Transfers – Bank Charges May Apply
Based on the Nigerian bank facilitating the transfer, some handling fees or charges could be levied per transaction.
eWallets – No Fees
Exness does not apply any internal charges for withdrawals to digital wallets like Neteller and Skrill. Very cost efficient.
Debit/Credit Cards – No Fees
Card withdrawals, both local Nigerian and international, are completely free of charge by Exness upon landing in your account.
Cryptocurrency – Negligible Network
Fees Minimal blockchain network fees may apply for crypto withdrawals but no explicit Exness fees.
Step-by-Step Withdrawal Guide
Follow these simple steps when withdrawing funds from your Exness account to Nigerian accounts:
Bank Transfers
- Log into the Exness trading platform
- Access the Withdrawal page from your profile menu
- Select desired amount & enter Nigerian bank account details
- Choose bank wire transfer & request withdrawal
- Allow 2-5 days for payout
Payment Cards
- Save Visa or Mastercard as payout option
- Specify card withdrawal amount on Exness platform
- Instant transfer once request is processed
eWallets
- Link eWallet such as Skrill or Neteller
- Input desired withdrawal amount to eWallet
- Payout lands within 24 hours
Crypto Wallets
- Add public BTC/ETH wallet address
- Enter withdrawal amount in equivalent crypto coins
- Exness processes sub-1 hour transfers
Local Banking
- Verify Nigerian bank account on Exness
- Initiate transfer on Exness to local account
- Takes 1-3 days to reflect locally
To ensure smooth withdrawals, be sure to double-check all beneficiary account details and saved payment options to avoid delays or rejected transactions. You can also reach out to Exness support if payouts are not received within expected timelines for a given method. Following the step-by-step process accordingly allows fast, predictable withdrawals.
Read also! How to Trade on Exness For Novice Nigerian Investors
Common Exness Withdrawal Problems and Solutions
While Exness aims to make withdrawals smooth for Nigerian traders, some common issues can crop up like:
- Delays in Receiving Withdrawals: Transfers to Access Bank accounts taking over 5 business days to reflect when 2 days expected initially.
- Incorrect Beneficiary Details: Entering the wrong account number for First Bank transfers leading to funds not showing.
- Incomplete Documentation: GTBank flagging withdrawal request for added ID/address proof before processing international transfer.
- Failed Transactions: Mastercard withdrawal not going through due to outdated card expiry date registered on platform.
- Rejected Wire Transfers: Zenith Bank rejecting incoming wires from Exness due to recipient name mismatches.
How can these be solved? Here are some step-by-step solutions for common Nigerian withdrawal issues on Exness:
Verify Your Accounts
- Upload utility bill confirming your address matches bank details. Helps GTBank/FirstBank approve international wires.
Check Transfer Status
- Crosscheck status of stuck Skrill transfers as ‘Processing’ or ‘Failed’ under transaction logs. Indicates next steps.
Update Personal Details
- Change phone number or card details that may cause instant debit card withdrawals by Exness to fail.
Submit Added Documents
- Provide CBN mandated BVN documents if Zenith Bank seeking extra compliance for wire transfers.
Engage Exness Support
- Live chat assistants can quickly diagnose why Access Bank account transfers delayed beyond 5 days.
Some proactive measures include:
- Maintaining all formal KYC papers as regulations evolve locally
- Updating changed bank account numbers/cards ahead of withdrawals
- Pre-confirming volatile bank fees for dollar or euro wires
Being proactive in maintaining account, beneficiary and compliance integrity is key to avoiding some withdrawal pitfalls!
Conclusion
Drawing trading profits out seamlessly is a trader’s end goal, and Exness makes this accessible even with the $1 minimum withdrawal globally. For Nigerians specifically, NGN 1,250 is required before local bank transfers.
We covered the array of fast payment methods from cards to crypto and eWallets, most coming at zero fees levied by Exness itself. Following step-by-step run-throughs per channel leads to predictably speedy transfers.
Even when issues arise like incorrect account data or documentation gaps, solutions exist through Exness’s responsive support teams. Reaching out early diffuses withdrawal challenges.
Overall, Exness grants Nigerian traders frictionless access to realize profits big or small, directly into local bank accounts. The world-class infrastructure accepts tiny minimum withdrawals, processes payouts rapidly, and assists traders through integrated compliance.
This flexibility makes Exness globally trusted and relied on for Nigerians seeking forex fortunes. Withdrawals pave the way to actualize your trading strategies into genuine value locally.
FAQs
- What is the minimum withdrawal amount on Exness for Nigerians?
The minimum withdrawal on Exness is $1 or the equivalent in Naira, which is approximately ₦1,250.
- How long do Exness withdrawals take to process in Nigeria?
Withdrawal processing times vary – bank transfers take 2-5 business days, eWallets under 24 hours, and debit/credit cards are instant.
- Does Exness charge any fees for withdrawals?
No, Exness does not charge any withdrawal fees. However, some third-party payment providers may apply minor transaction charges.
- Can I withdraw Exness profits to my Nigerian bank account?
Yes, you can withdraw Exness funds directly to your local Nigerian bank account via wire transfer or other supported methods.
- What documents are required to withdraw from Exness in Nigeria?
You’ll need to ensure your Exness account is fully verified with KYC documents like ID, address proof, and banking information.
- Can I withdraw Exness funds to my Skrill or Neteller account in Nigeria?
Yes, linking your Nigerian eWallet account allows you to withdraw Exness profits there within 24 hours.
- What if I make a mistake in my withdrawal details on Exness?
Contact Exness support immediately to address any issues with incorrect beneficiary information to prevent failed transfers.
- Is there a maximum withdrawal limit on Exness for Nigerian traders?
No, there is no set maximum withdrawal limit. You can withdraw any amount from your Exness account balance.