Exness Review & Checks for Traders in Nigeria

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Exness Nigeria Review 2024 - Forex Broker for Nigerians

Forex and CFD trading has surged in popularity across Nigeria in recent years. Attracted by potential profits in the world’s largest financial market, Nigerian traders young and old are searching for the best Forex brokers to partner with. Exness has emerged as a leading choice thanks to its competitive pricing, range of platforms, and focus on client service.

This Exness Nigeria review aims to serve local traders evaluating if the broker provides a recommended service catering to their needs as clients based in Nigeria or neighboring regions. Key factors covered include legal permissions to operate locally, accepted payment options, and ease of funding in Naira or USD.

We determine what Exness proposes across these touchpoints and any advantages over domestic Nigerian brokers.

Exness Nigeria Review – Is Exness a Safe Broker?

As an international broker, Exness is regulated by tier-1 authorities like the UK’s FCA and Australia’s ASIC that require strict adherence to processes protecting client funds and data security. The Cyprus base also ensures operating standards as mandated by European ESMA regulations.

Additionally, Exness maintains an official legal presence in South Africa with approval to serve the wider region including Nigeria. The ability to onboard Nigerian clients legally along with meeting top-line regulations inspires confidence in Exness trading conditions and transparency.

The broker further commits to fair pricing and order execution by partnering with renowned liquidity providers, undergoing third-party auditing and disclosing all costs upfront with no hidden fees. Competitive market pricing is enabled by their sheer scale with annual trade volumes exceeding $1 trillion.

Account Opening & Funding

Exness Nigeria Review - Deposit & Withdrawal Methods

Opening an Exness account from Nigeria is easily completed online requiring submitting personal ID for verification and funding with an initial deposit. Nigerian clients can open either the Standard, Pro or Zero account with minimum deposits between $10-200 depending on the type selected and payment method.

Conveniently, Exness offers multiple channels to fund accounts using Naira cards and accounts without overseas restrictions. Clients can deposit via Nigeria-issued UnionPay or Interswitch debit cards in addition to bank transfers from leading national banks. Additional e-wallet options for instant funding include Kuda Bank, Neteller, PerfectMoney Skrill, allowing quick access to start trading.

Traders looking to minimize conversion fees can also fund directly using USD bank wires or UnionPay cards. Regardless of the method, Exness imposes no deposit fees with all transfer charges covered on their end.

Trading Conditions

Nigerian clients can access maximum allowable leverage of up to 1:3000 based on underlying volatility and margin requirements. This enhances buying power for the limited capital that most retail traders have available. Required margin varies between 1-20% by instrument.

Fees consist primarily of low, floating spreads without commissions on the Standard account. Spreads for EUR/USD and USD/NGN average ~0.4 pips during market hours. Swaps for holding overnight positions apply depending on the relative interest rates of bought and sold currencies.

To avoid inactivity fees, accounts must simply execute one trade within any 180-day period. Overall, Exness trading conditions provide new Nigerian traders affordable access to forex markets with limited startup capital.


Exness traders in Nigeria receive access to the globally popular MetaTrader suite including MT4 and MT5 desktop platforms, web versions and mobile trading apps. These allow advanced charting, hundreds of indicators, EAs integration and more.

Additionally, Exness Terminal serves as the broker’s proprietary platform available alongside MT platforms that include unique features. These include one-click trading execution, market sentiment analytics, integrated Autochartist pattern recognition scanning, built-in algorithmic strategies and more.

For Nigerian clients, Exness platforms provide not only assets like currency pairs, CFDs and cryptos to trade, but also advanced functionality rivaling platforms from other international brokers. The availability and features cater well to active intraday traders and automated trading.

Research & Education

In terms of market insights, Exness offers daily updated forex analysis and news feeds in English that cover major economic developments like US rate decisions or Nigeria employment figures that can influence currency and commodity trading.

Additionally, the broker provides an economic calendar detailing upcoming data announcements from central banks and statistical agencies. This helps traders anticipate volatility. Webinars also run covering forex and crypto trading strategies.

For beginners, the learning materials cover core topics like technical/fundamental analysis, chart pattern reading, risk management essentials and even trading psychology principles useful in the Nigerian context. Some materials are available not just in English but also languages like Swahili spoken more widely in the region.

Customer Support

Exness prioritizes multilingual customer service with agents available 24/5 via live chat, email and phone in English, Chinese, Spanish, Arabic and more. Swahili language support caters better for West African traders. Lines stay open from Sunday 21:00 GMT to Friday 21:00 GMT daily.

While Exness does not currently operate a physical office in Nigeria or Lagos, support teams strive to understand local context and norms. Nigerian clients can expect relevant responses to questions on account security, transfers, verification and trading systems. Common local channels like WhatsApp are also options to engage support beyond calls.

As the Exness Nigerian client base grows, prospects remain for a Lagos office and staff in the future providing more personalized trading guidance within time zones and cultural nuances.

Pros & Cons

For Nigerian traders, Exness delivers distinct advantages including low account minimums from $10 enabling new retail traders, access to globally trusted MT platforms already familiar across brokers, and transfer options tailored to local payment infrastructure.

Competitive pricing through among the tightest spreads in the industry further matches the need to minimize costs with limited trading capital. Client funds also remain securely segregated under European regulation.

In terms of limitations, Exness does not maintain a physical operational presence yet on the ground locally in Nigeria or Africa. However, support and compliance assurances offset this through digital channels accessible 24/5.


To conclude this Exness Nigeria Review, we can say that this broker represents a recommended choice as an international forex and CFDs brokerage meeting the needs of traders in Nigeria and the wider region. The combination of accessible account minimums, cryptocurrency availability, MT platforms, customer support localization and adherence to tier-1 regulations check important boxes for the Nigerian market context.

While Exness continues boosting offerings for the African region, they already cater well to individual traders based on affordability factors and feature sets matching Nigeria’s appetite for forex trading participation using reliable platforms.