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Exness Broker: Is It The Best Broker For Nigerian Forex Traders? - Business - Nairaland

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Exness Broker: Is It The Best Broker For Nigerian Forex Traders? by Politics24: 5:44pm On Sep 23, 2023
You have decided to start forex trading in Nigeria but don't if Exness Broker is the best for you. So you want to read an Exness broker review to be sure it has all the features you want in a forex broker.
I'm here to help you. As someone who has been monitoring the Forex market for a long time, I have taken time to research and review Exness. So I will share all my findings with you here.

Here Is The Summary Of This Exness Review
Min Deposit -USD 10
Regulators - CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk - MT4, MT5, MT4 WebTerminal, mobile (iOS & Android, Exness Trader)
Crypto - Yes
Total Pairs -97
Islamic Account -Yes
Trading Fees - Low
Account Activation Tim - 24 Hours
Open An Account On Exness Today

Which Country Is Exness Broker From?

Exness is from Cyprus.
It was founded in 2008 and is headquartered in Limassol, Cyprus.
Exness started its operations with a vision to provide transparent and reliable trading services to traders worldwide. Over the years, it has grown to become one of the leading forex brokers in the industry.
The company prides itself on offering competitive trading conditions, advanced trading platforms, and excellent customer support.
One of the key aspects of Exness is its regulation. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 178/12. This regulatory oversight ensures that Exness operates within the guidelines and standards set by the European Union's financial regulations.
Within a few years, it expanded its services globally and established a strong presence in various regions, including Europe, Asia, Africa, and the Middle East. It caters to both individual retail traders and institutional clients, offering a wide range of financial instruments, including forex currency pairs, commodities, indices, and cryptocurrencies.
Even Jeffrey Benson, a millionaire forex trader in Nigeria uses Exness and recommends it to his forex students

Core Features Of Exness That Makes It A Top Choice Forex Broker To Many Nigerians

Exness has a variety of advanced features that can help you succeed as a trader on their platform and below are the major ones.
Wide Range of Trading Instruments: Exness provides a diverse selection of trading instruments, including major, minor, and exotic currency pairs, as well as commodities, cryptocurrencies, indices, and metals. This allows traders to diversify their portfolios and choose the assets that best suit their trading strategies.
Multiple Account Types: There are different account types to accommodate various trading styles and experience levels. These include Standard, Pro, and Raw Spread accounts. Each account type has its own set of features and trading conditions, providing flexibility for traders to choose the account that aligns with their needs.
Competitive Spreads and Low Fees: Exness is known for its competitive spreads, starting from as low as 0 pips. This allows traders to execute trades at favorable prices, reducing trading costs. Additionally, Exness charges low or no commissions on trades, making it more cost-effective for traders.
Advanced Trading Platforms: It offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their powerful features and user-friendly interfaces. These platforms provide advanced charting tools, expert advisors (EAs) support, and a wide range of technical indicators to assist traders in making informed trading decisions.
High Execution Speed and Reliability: It provides a robust technical infrastructure that ensures fast and reliable trade execution. This infrastructure utilizes advanced trading servers and data centers to minimize latency and offer stable trading conditions, reducing the chances of slippage and requotes.
Negative Balance Protection: Exness prioritizes your safety as a forex trader that's why it implements negative balance protection. This means you cannot lose more than your account balance, even in highly volatile market conditions.
Educational Resources and Analysis Tools: There are wealth of educational materials, including tutorials, webinars, and market analysis, to help traders enhance their knowledge and skills. You can access economic calendars, real-time market news, and in-depth technical analysis to stay updated on market trends.
Multilingual Customer Support: You enjoy customer support in multiple languages, this means you can receive assistance in your preferred language. ( Igbo, Yoruba, and Hausa are not included 😂)
The support team is available 24/7 and can be reached through live chat, email, and phone.

Pros and Cons
Pros of Exness Broker:
Regulated and Reliable: Exness is a regulated broker, providing a sense of trust and security to traders. It is authorized and supervised by reputable regulatory bodies such as the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). This ensures that the broker adheres to strict regulatory standards, protecting the interests of clients.
Diverse Range of Trading Instruments: It offers you a wide selection of trading instruments, including forex pairs, commodities, cryptocurrencies, indices, and metals. This allows traders to diversify their portfolios and take advantage of various market opportunities.
Competitive Spreads and Low Fees: Exness has competitive spreads starting from 0 pips, enabling traders to execute trades at favorable prices. Additionally, it offers low or no commissions on trades, making it cost-effective for traders.
Advanced Trading Platforms: The popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are available on Exness. These platforms are known for their advanced features, user-friendly interfaces, and extensive customization options. With them, you can access a wide range of technical indicators, expert advisors (EAs), and automated trading capabilities.
Technical infrastructure: There is a robust technical infrastructure that ensures fast trade execution. It utilizes advanced trading servers and data centers to minimize latency, providing traders with quick and efficient order processing.
Advantages over Competitors (FXCM and Ava Trade):
Lower Minimum Deposit: Exness has a lower minimum deposit requirement compared to competitors like FXCM and Ava Trade. This makes it more accessible for traders with smaller capital.
Negative Balance Protection: Exness offers negative balance protection, ensuring that traders cannot lose more than their account balance. This feature provides an extra layer of security and protects traders from extreme market volatility.
Multilingual Customer Support: Exness provides customer support in multiple languages, catering to traders from various regions. This ensures that clients can receive assistance in their preferred language, enhancing the overall customer experience.

Cons of Exness Broker:
Limited Educational Resources: While Exness offers some educational materials, the availability of comprehensive educational resources may be limited compared to other brokers. Traders who heavily rely on educational materials for learning and skill development may find this aspect lacking.
No US FX Traders: Exness does not accept clients from the United States. This can be a disadvantage for US-based traders who are interested in trading with Exness and may need to seek alternative brokers.
Limited Research Tools: Exness may have fewer research tools and market analysis resources compared to some competitors. Traders who heavily rely on in-depth research and analysis may find the offering relatively basic.
Type Of Trading Account You Can Open On Exness As A Nigerian
Exness Broker offers a range of trading accounts tailored to meet the diverse needs of traders in Nigeria, each with its own minimum deposit requirement.
Here are the types of trading accounts one can open from Nigeria on Exness and the minimum amount required to open them:
Standard Account: The Standard Account is suitable for beginners and requires a minimum deposit of $1. It offers competitive fixed spreads on various trading instruments, making it accessible to traders with smaller capital.



Click The Link Below To Open Your Exness Account:
https://www.exness.com/?utm_source=partners&ex_ol=1

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