Exness is a well-known global forex broker offering individuals in Nigeria the opportunity to participate in the financial markets. For traders just getting started with Exness, one crucial aspect to understand is the minimum deposit required to open a live trading account.
This article will take you through the essentials, including the required minimum deposit for Nigerian traders and the processes involved.
Exness Minimum Deposit in Nigeria
To register a live trading account, traders must pay an initial amount to activate the account.
Furthermore, the Exness minimum deposit for Nigeria is $10, equivalent to approximately 7,500 NGN, depending on the exchange rate between the USD and the Naira on the day the deposit is made.
This low entry point makes Exness a viable option for novice traders and those with limited capital who still want to participate in forex trading.
How to Deposit Funds on Exness
Depositing funds on Exness is a straightforward process. It is designed to be executed swiftly and conveniently, allowing traders to fund their accounts and start trading without undue delays.
Timing and Processing
Deposits and withdrawals can be carried out 24/7. If a deposit or withdrawal is not instant, Exness processes it within 24 hours. However, it is crucial to remember that your bank or payment service could take a bit longer.
Therefore, Exness cannot be held liable for any deposit or withdrawal processing delays caused by payment systems.
Using Multiple Payment Systems
Withdrawals must be made in proportion to the amounts deposited when a trader funds their account using multiple payment systems or multiple wallets within the same payment system. This rule ensures that the withdrawal process is fair and orderly.
Changes in Processing Times
Exness reserves the right to change the processing time for deposits and withdrawals without prior notification. Traders are encouraged to stay updated with any changes to avoid surprises.
Availability of Payment Methods
It is important to note that Exness could limit the payment systems available to clients from certain countries. Therefore, Nigerian traders should confirm the available options and make sure their preferred payment system is supported.
Step-by-Step on How to Deposit the Minimum Required
For Nigerian traders, depositing funds into an Exness account involves a straightforward process:
- In the Deposit section of your Personal Area, choose from the available options – Online Bank Transfer or Online Bank Transfer #3. The on-screen instructions may vary depending on the method chosen.
- Select the trading account you want to top up, enter the deposit amount (integer values only), and click Continue.
- A transaction summary will be presented to you; click Confirm to continue.
- Follow the on-screen instructions to complete your deposit.
Our Final Thoughts
Exness provides a low-entry trading opportunity for individuals in Nigeria with its minimum deposit of approximately 7,500 NGN ($10). Furthermore, the platform ensures a smooth and flexible deposit process, allowing traders to fund their accounts conveniently.
However, it is vital to stay informed about the platform’s rules and regulations, including the potential for changes in processing times and the availability of specific payment systems.
Exness also maintains strict measures against inactive trading accounts, emphasising that the primary purpose of deposits and withdrawals is to fund trading activities.
Overall, in our experience, Exness offers a user-friendly and accessible platform for Nigerian traders looking to participate in the financial markets.