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Exness review

Exness Review

Overall, Exness is very competitive in terms of its trading fees and spreadsExness is a multi-regulated forex broker headquartered in Cyprus. Exness is regulated by FSA, CBCS, FSC, FSC BVI, FSCACySEC, FCA. Exness is currently not regulated by the CBN.

Updated : January 20, 2023

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

USD 10 / 4145 NGN

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 Time

24 Hours

Exness Overview

Exness Review Education And Research

👉 Overall, Exness is a low-risk CFD and Forex broker with multiple regulations and authorization. Exness not only offers dynamic and flexible account types but offers some of the best trading conditions in the industry.

 

👉 Exness, founded in 2008, quickly rose to a monthly trading volume of over $180 billion and 15,000 new accounts registered each month by 2014. Exness traders now have access to over 200 financial products, several retail account types, and many resources.

 

👉 Exness is one of the most popular brokers even though it is not yet regulated by the Capital Markets Authority (CMA) in Nigeria.

 

👉 The Exness Group’s website has been translated into 18 languages, and customer service is provided 24 hours a day, seven days a week in 13 different languages.

 

👉 Additionally, users have access to leverage, which may significantly reduce margin needs and allow for more flexible management of trading methods. Another benefit of Exness is that traders can withdraw cash instantly using a variety of electronic payment channels, giving traders complete control over their funds.

 

👉 This Exness review will provide Nigerian traders with the comprehensive details that they need to consider whether the broker is suited towards their unique trading objectives and needs.

 

Distribution of Traders

Exness Review Distribution of Traders

👉 The distribution of traders with Exness is as follows:

➡️️​ Thailand – 44%

➡️️​ Vietnam – 26.5%

➡️️​ South Africa – 9.2%

➡️️​ India – 6.7%

➡️️​ Saudi Arabia – 2.4%

 

Popularity among traders who choose Exness

🥇  While Exness does not visibly have a large market share in Nigeria, many Nigerian traders make use of this innovative, reputable Forex and CFD broker, placing it firmly in the Top 10 brokers for Nigerian traders.

Exness at Glance:

🏛️ HeadquarteredCyprus, with offices in United Kingdom, Seychelles, South Africa, the British Virgin Islands, and Curaçao

🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2008
📱 Nigerian Office Contact NumberNone
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, Seychelles

🔎License NumberSeychelles – SD025
Curaçao – 0003LSI
British Virgin Islands – SIBA/L/20/1133
Mauritius – GB20025294
South Africa – FSP 51024
Cyprus – 178/12
United Kingdom – 730729
⚖️ CBN RegulationNone
✴️ Regional RestrictionsThe United States

☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts5

🚀 Offers a Nigerian Account?Yes
💻 Dedicated Nigerian Account Manager?Yes
📈 Maximum LeverageUnlimited

📈 Leverage Restrictions for Nigeria?No
💳 Minimum Deposit (₦)41,000 (or equivalent to $10)

💳 Nigerian Naira Deposits Allowed?Yes
💰 Active Nigerian Trader Stats1.3 million
👥 Active Nigerian-based Exness customers1,000+
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal OptionsBitcoin
Debit Card
Credit Card
Internet Banking
Skrill
Neteller
Perfect Money
Tether (USDT OMNI)
WebMoney
Mybux
Ozow
💰 Segregated Accounts with Nigerian Banks?Yes

💻 Trading PlatformsMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app

💰 Tradable AssetsForex
Metals
Crypto
Energies
Indices
Stocks
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on WebsiteEnglish, French, Indonesian, Portuguese, Spanish, Vietnamese, Arabic, Thai, Chinese (Simplified), Japanese, Korean, Urdu, Bengali, Hindi

👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/7

👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansNone
✴️ Education for Nigerian beginnersNo

📊 Proprietary trading softwareYes

💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️ Is Exness a safe broker for Nigerians?Yes
✔️ Rating for Exness Nigeria 8/10
✔️ Trust score for Exness Nigeria97%
👉 Open an account👉 Open Account

Exness Regulation and Safety of Funds

Exness Review Regulation And Safety

Exness Regulation in Nigeria

👉 While Exness does not hold local licenses or authorization to provide derivatives trading in Nigerian, Exness is a safe and reputable broker.

 

Exness Global Regulations

👉 Exness is a globally-based, multi-regulated broker and business that operates through several global entities with regulations and authorization as follows:

➡️ The Financial Services Authority (FSA) in Seychelles oversees and regulates Nymstar Limited under license number SD025, with the entity known as a reputable Securities Dealer in the region.

➡️ The Central Bank of Curacao and Sint Maarten (CBCS) in Curacao regulates and authorizes Exness B.V as a Securities Intermediary. Exness B.V operates under license number 0003LSI, and it provides services to persons and territories outside the European Economic Area (EEA).

➡️ Exness VG Limited is approved and regulated by the Financial Services Commission (FSC) of the British Virgin Islands, with registration number 2032226 and license number SIBA/L/20/1115.

➡️ The Financial Services Commission (FSC) of Mauritius authorizes and regulates Tortelo Limited under registration number 176967, with the subsequent license number GB20025294. Tortelo Limited identifies it as an Investment Dealer or Full-Service Dealer excluding underwriting.

➡️ Vlerizo (Pty) Limited is licensed by the Financial Sector Conduct Authority (FSCA) in South Africa as a genuine and reputable Financial Services Provider (FSP) with license number 51024.

➡️ Under license number 178/12, the Cyprus Securities and Exchange Commission (CySEC) regulates and authorizes Exness (Cy) Ltd.

➡️ In the United Kingdom, Exness (UK) Limited is licensed as well as overseen by one of the most demanding market regulators today namely the Financial Conduct Authority (FCA). Exness (UK) Limited operates under Financial Services Register number 730729 to operate as an Investment Firm.

 

Exness Client Fund Security and Safety Features

👉 Exness maintains all customer monies in segregated accounts at top-tier institutions in all locations where the broker provides services.

 

👉 Exness is furthermore a member of the Financial Commission. The Financial Commission is responsible for resolving disputes in the financial services sector, with a particular emphasis on the foreign currency market.

 

👉 The Financial Commission offers a variety of services, including a compensation fund that might be seen as an insurance policy for the clients of its members, including Exness. The Financial Commission’s coverage per customer is up to €20,000.

Overall Rating

Min Deposit

USD 10 / 4145 NGN

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 Time

24 Hours

Account Types and Features

Exness Review Account Types

👉 Both Standard Accounts and Professional Accounts are offered by Exness. Traders with varying degrees of trading expertise and distinct trading styles will find a variety of account choices in these two categories.

 

👉 Exness offers a variety of live trading accounts, including:

➡️ Standard Account

➡️ Standard Cent Account

➡️ Raw Spread Account

➡️ Zero Account

➡️ Pro Account

 

Live Trading Accounts

Standard Account

Exness Review Standard Account

👉 Standard Accounts are suitable for all traders, regardless of their level of experience, talent, or trading style. They are the most common form of account offered by most forex and CFD brokers.

 

👉 This account has the following characteristics.

📈 Account Feature📈 Value
💰 Account Base CurrenciesEUR and USD
💳 Minimum Deposit400 Nigerian Naira equivalent to $1
💳 Maximum Deposit AmountNone
📊 Average spreadsFrom 0.0 pips
📊 CommissionsFrom 0.03% to 0.07%
✴️ Maximum Trade Volume10,000 lots
✴️ Leverage RatiosBetween 1:1 and up to 1:1000
📈 Margin for Locks25%
📈 Margin Call30%
⚖️ Stop-out10%
⚖️ Order ExecutionInstant

 

Standard Cent Account

Exness Review Standard Cent Account

👉 This account is ideal for novice traders who want to get a taste of the market but are not ready to put their money at risk. Also suitable for skilled traders who want to test their trading techniques in actual market circumstances without the danger of loss, this account is the best option.

📈 Account Feature📈 Value
💰 Account Base CurrenciesEUR and USD
💳 Minimum Deposit400 Nigerian Naira equivalent to $1
💳 Maximum Deposit AmountNone
📊 Average spreadsBetween 3 to 7 pips
📊 CommissionsNone
✴️ Maximum Trade Volume10,000 lots
✴️ Leverage RatiosBetween 1:1 and up to 1:1000
📈 Margin for Locks25%
📈 Margin Call30%
⚖️ Stop-out10%
⚖️ Order ExecutionInstant

 

Raw Spread Account

Exness Review Raw Spread Account

👉 Scalpers, day traders, and algorithmic traders can benefit from this account type, which offers competitive and low spreads.

📈 Account Feature📈 Value
💰 Account Base CurrenciesEUR and USD
💳 Minimum Deposit400 Nigerian Naira equivalent to $1
💳 Maximum Deposit AmountNone
📊 Average spreads0.0 pips
📊 CommissionsFrom 0.03% to 0.07%
✴️ Maximum Trade Volume10,000 lots
✴️ Leverage RatiosBetween 1:1 and up to 1:1000
📈 Margin for Locks25%
📈 Margin Call30%
⚖️ Stop-out10%
⚖️ Order ExecutionInstant

 

Zero Account

Exness Review Zero Account

👉 Market execution is guaranteed with no requotes and the narrowest spreads and lowest commissions are provided by the Zero Account.

Account FeatureValue
💳 Minimum Deposit Requirement208,100 Nigerian Naira
📈 SpreadsVariable, from 0.0 pips
💰 Commission ChargesFrom $0.1 per side, per lot
📈 Maximum Leverage offeredUnlimited leverage
📊 Instruments AvailableForex, metals, cryptocurrencies, energies, stocks, indices
📊 Minimum lot size0.01 lot
📈 Maximum Lot Size200 lots from 7 am to 8h59 pm (GMT +0)
20 lots from 9 pm to 6h59 am (GMT +0)
📈 Maximum positionsUnlimited
✴️ Hedged Margin (%)0
✴️ Margin Call (%)30
🔎 Stop-out Level (%)0
📊 Order ExecutionMarket Execution
☪️ Islamic AccountYes

 

Pro Account

Exness Review Pro Account

👉 The Professional Account is reserved for traders with the most advanced knowledge of financial markets.

Account FeatureValue
💳 Minimum Deposit Requirement208,100 Nigerian Naira
📈 SpreadsVariable, from 0.1 pips
💰 Commission ChargesNone
📈 Maximum Leverage offeredUnlimited leverage
📊 Instruments AvailableForex, metals, cryptocurrencies, energies, stocks, indices
📊 Minimum lot size0.01 lot
📈 Maximum Lot Size200 lots from 7 am to 8h59 pm (GMT +0)
20 lots from 9 pm to 6h59 am (GMT +0)
📈 Maximum positionsUnlimited
✴️ Hedged Margin (%)0
✴️ Margin Call (%)30
🔎 Stop-out Level (%)0
📊 Order ExecutionInstant Execution on Forex currency pairs, metals, energies, stocks, and indices and market execution on cryptocurrencies
☪️ Islamic AccountYes

 

Demo Account

Exness Review Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

 

👉 There is a certain degree of risk involved when trading financial markets and Exness offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

 

Islamic Account

Exness Review Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 Traders of all levels of expertise regardless of their trading goals may engage in several financial markets without risking exposure to various forms of interest thanks to Exness’ Islamic Account option. During account registration, Muslim traders who reside in Islamic countries will automatically be given the Swap-Free account.

Overall Rating

Min Deposit

USD 10 / 4145 NGN

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 Time

24 Hours

Account Registration

Exness Review Account Registration

👉 Traders can open an Exness account by completing the online registration and validating their personal information. To maintain a secure trading environment for all traders, Exness has implemented a Know Your Client (KYC) procedure in which traders must present evidence of their identity and proof of domicile.

 

👉 Once traders have completed this process, they can fund the trading account with the minimum deposit requirement before they can begin trading.

Exness Vs CM Trading Vs Tickmill – Broker Comparison

ExnessCM TradingTickmill
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCAFSA, FSCA

Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA

📱 Trading PlatformMetaTrader 4
MetaTrader 5
MetaTrader 4
CM Trading Web
CopyKat
Expert Advisors
Trading Apps
MetaTrader 4
MetaTrader 5
💰 Withdrawal FeeNoYesNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit4,100 NGN4,1700 NGN4,1700 NGN
📈 LeverageUnlimited1:2001:200
📊 SpreadVariable, from 0.0 pipsFixed, from 0.9 pipsFixed, from 0.0 pips
💰 CommissionsFrom $0.1 per side, per lotNone$1 per side per 100,000 traded
✴️ Margin Call/Stop-Out60%/0%From 20%100%/30%
✴️ Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoNoYes
📊 Cent AccountsYesNoNo
📈 Account TypesStandard Account
Standard Cent Account
Raw Spread Account
Zero Account
Pro Account
Bronze Account
Silver Account
Gold Account
Premium Account
Pro Account
Classic Account
VIP Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsYesYesNo
📊 Nigerian Naira AccountNoNoNo
👥 Customer Service Hours24/724/524/5
📊 Retail Investor Accounts543
☪️ Islamic AccountYesYesYes

Trading Platforms

Exness Review Trading Platforms

👉 Exness offers Nigerian traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ Exness Terminal

➡️ Exness Trader app

 

Desktop Platforms

Exness Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

👉 Exness lets Nigerian traders trade in a way that suits their unique trading style on MetaTrader 4. Instant Execution and Market Execution are two execution options available when trading CFDs. Regardless of the intricacy of the trading strategy, Nigerians can trade their preferred financial products seamlessly through the desktop terminal of MetaTrader 4.

 

👉 MetaTrader 5 has a specific MetaEditor tool for developing trading robots and technical indicators. Due to the tool’s integration with the platform, new programs will appear automatically in MetaTrader 5 and can be run immediately. Some of the features of the Exness MetaTrader 5 desktop platform include:

➡️ Access to a range of tradable instruments

➡️ Spreads from as low as 0.0 pips

➡️ 21 timeframes along with 3 chart types

➡️ Different order types

➡️ A comprehensive hedging system

➡️ 38 built-in indicators, and more.

 

WebTrader Platforms

Exness Review WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ Exness Terminal

👉 Nigerian traders of all skill levels can invest in the financial markets thanks to the terminal’s numerous tools, which include flexible trading systems, algorithmic trading, and mobile trading. As a component of Exness’ MetaTrader 4 WebTrader, these essential features assist Nigerians to identify entry and exit locations, as well as recognise market trends.

 

👉 MetaTrader 5 WebTrader offers an array of trading tools, including fundamental and technical research, trading signals, and algorithmic trades, which are available on the platform. Nigeria Investors can stay on top of the markets by listening to live broadcasts of financial news updates.

 

👉 Expert Advisors be used to automate trading on the Exness MT5 platform by analysing market quotations and executing trades on the financial markets.

 

👉 With an easy-to-use interface and the latest charting technologies, the Exness Terminal provides traders with an all-around trading experience. The terminal has more than 50 drawing tools and more than 100 indicators for active traders.

 

👉 TradingView provides the charts on the proprietary Exness Terminal, which was developed by Exness’ inventive programmers and designers. In addition, the Exness Terminal is an HTML 5 online software that is dependable, quick, and user-friendly.

 

Trading App

Exness Review Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ Exness Trader app

👉 The Exness MetaTrader 4 and 5 trading terminals are not limited to desktop computers running Windows, macOS, or Linux. Traders with hectic schedules can trade while they are on the move thanks to the mobile trading feature on iOS and Android smartphones and tablets.

 

👉 With access to most of MetaTrader 4 and MetaTrader 5’s vital components, such as trading orders, interactive charts, and popular analytical tools, Nigerian traders can monitor their trading account and conduct mobile trading with a single click. Additionally, these iOS and Android mobile apps allow traders to get push alerts and communicate with other traders.

 

👉 With Exness Trader, Nigerians can trade with confidence from any location. Traders can take advantage of quick deposits and withdrawals, as well as on-demand customer service when choosing from more than 200 instruments.

 

👉 Nigerians will find that it is easy to get started with the Exness Trader platform since it includes all the necessities, such as candlesticks, indicators, and tools for computation. The Exness trading app is the ideal place to find CFDs on everything from FX to gold to oil to indices.

 

👉 In addition, another benefit is that traders can effortlessly switch between different charts and keep an eye on all trading transactions.

 

Range of Markets

Exness Review Trading App

👉 The range of markets that Exness offers include the following:

➡️ Forex

➡️ Metals

➡️ Crypto

➡️ Energies

➡️ Indices

➡️ Stocks

Broker Comparison for Range of Markets

ExnessCM TradingTickmill
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCAFSA, FSCA

Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA

📱 Trading PlatformMetaTrader 4
MetaTrader 5
MetaTrader 4
CM Trading Web
CopyKat
Expert Advisors
Trading Apps
MetaTrader 4
MetaTrader 5
💰 Withdrawal FeeNoYesNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit4,100 NGN4,1700 NGN4,1700 NGN
📈 LeverageUnlimited1:2001:200
📊 SpreadVariable, from 0.0 pipsFixed, from 0.9 pipsFixed, from 0.0 pips
💰 CommissionsFrom $0.1 per side, per lotNone$1 per side per 100,000 traded
✴️ Margin Call/Stop-Out60%/0%From 20%100%/30%
✴️ Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoNoYes
📊 Cent AccountsYesNoNo
📈 Account TypesStandard Account
Standard Cent Account
Raw Spread Account
Zero Account
Pro Account
Bronze Account
Silver Account
Gold Account
Premium Account
Pro Account
Classic Account
VIP Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsYesYesNo
📊 Nigerian Naira AccountNoNoNo
👥 Customer Service Hours24/724/524/5
📊 Retail Investor Accounts543
☪️ Islamic AccountYesYesYes

Overall Rating

Min Deposit

USD 10 / 4145 NGN

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 Time

24 Hours

Trading and Non-Trading Fees

Spreads

Exness Review Trading Fees

👉 The spreads charged will vary according to the kind of account selected by traders since each account caters to a particular sort of trader. Traders can anticipate the following typical spreads:

➡️ Standard Account – from 0.3 pips EUR/USD

➡️ Standard Cent Account – from 0.3 pips EUR/USD

➡️ Raw Spread Account – from 0.0 pips EUR/USD

➡️ Zero Account – from 0.0 pips EUR/USD

➡️ Pro Account – 0.1 pips EUR/USD

 

Commissions

Exness Review Commissions

👉 On some accounts, commissions are imposed at a set amount to guarantee that the broker is compensated for facilitating the transaction. The following commissions are charged:

➡️ Raw Spread Account – Up to $3.50 per side, per lot

➡️ Zero Account – From $0.1 per side, per lot

 

Overnight Fees, Rollovers, or Swaps

Exness Review Overnight Fees

👉 The fees that traders can anticipate while holding positions overnight will vary according to numerous factors, including the interbank rate, the size of the position, the duration of the position, the instrument being held, and whether the trader is long or short.

 

👉 Overnight costs on EUR/USD, for example, are typically -0.353 pips long (buy) and 0.096 pips short (sell).

How to Deposit Funds Into Your Account

👉 Step 1 – Go To The Official Exness Website

➡️ Go to www.exness.com and log into your account by click on “Sign In”.

Exness Review How to Deposit Funds Into Your Account Step 1

 

👉 Step 2 – Click on “Deposit”

➡️ Once logged in, click on “Deposit” in the left corner of your screen. 

Exness Review How to Deposit Funds Into Your Account Step 2

👉 Step 3 – Deposit Your Funds

➡️ You can now deposit funds into your account. 

Exness Review How to Deposit Funds Into Your Account Step 3

How to Withdraw Funds From Your Exness Account 

👉 Step 1 – Go to the Exness Website

➡️ Go to the official Exness website at www.exness.com and click on “Sign In”.

Exness Review How to Withdraw Funds From Your Exness Account Step 1

 

👉 Step 2 – Click on “Withdrawal”

➡️ Once you are logged in, click on “Withdrawal” and withdraw your funds. 

Exness Review How to Withdraw Funds From Your Exness Account Step 2

Exness Education and Research

Exness Review Education And Research

👉 Exness does not offer any educational material but offers the following research tools:

➡️ Analytical Tools

➡️ Trader’s Calculator

➡️ Economic Calendar

➡️ Currency Converter

➡️ Tick History

How To Minimize Risk While Trading? 

Minimize Risk While Trading

1. Use Stop Losses

👉 A stop loss is a trading technique that takes you out of losing trades at a predetermined level in order to limit your losses. Utilize stop losses to ensure a 1:1 risk-reward ratio and above in all your trades in order to limit losses and maximize profits on each trade. For example, if you’re setting your stop loss at 50 pips below your entry point, set your take profit at least 50 pips above your entry point.

 

👉 A 1:2 risk-reward ratio and above will ensure that you remain profitable even if the majority of your trades are losing trades. Using a 1:2 risk-reward ratio means that you should place your stop loss at 100 pips if you have a profit target of 200 pips and so on.

 

👉 If you are a more aggressive trader, you can use a 1:3 risk-reward ratio, where you risk 100 pips for a profit target of 300 pips.

 

2. Use Proper Lot Sizes

👉 Trading using proper lot sizes is crucial to your success as a trader. That’s because the lot size determines the value of each point of the currency pair you are trading. A standard lot typically refers to 100,000 units of the base currency you are trading. Therefore, trading a standard lot of the EURUSD currency pair puts the value of each point at USD 100.

 

👉 The lot sizes you trade should be proportionate to the amount you are willing to risk on each trade, which is directly related to the size of your account and your risk appetite.

 

3. Control Your Losses

👉 You should only risk 2% or less of your trading account on each trade. This will ensure that you can survive any losing streak while minimizing the drawdown on your trading account.

 

👉 Remember: losses in forex trading are not linear. A 50% loss would require a 100% gain in order to recover your original trading account level.

 

4. Use Leverage Carefully

👉 Most forex brokers offer to trade with leverage, and with Exness traders can enjoy up to 1:Unlimited leverage. While trading with leverage is one of the great advantages of trading forex, it can also increase the risk of losses if used incorrectly. Leverage works as a ratio, meaning that if you trade with USD 10 at a leverage of 1:50 your market investment will be USD 500. This means that, if your investment moves in a favourable direction, your profits would be 50x bigger than they would have been without leverage. However, this also means that your losses if the currency moves in an unfavourable direction would be 50x greater as well. Traders are therefore reminded to apply leverage with care.

 

5. Choose The Time Of Day That You Trade

👉 Most traders tend to ignore the impact of the time of day that they trade. However, traders who are active during periods of less volatility tend to be more profitable than traders who trade during periods of high volatility.

 

👉 The high volatility periods for different currency pairs vary, but can generally be summarized as the opening hours of the Asian sessions, the London/European sessions, and the New York/American sessions.

 

👉 Experienced traders who are trading European currency pairs, such as EURUSD and GBPUSD, typically trade during off hours from 7PM to 11AM GMT. However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping.

 

6. Buy The Rumor, Sell The News

👉 Many traders like to stay abreast of news that affects the forex market, but this is very hard to do given that it is near-impossible to accurately predict what will happen at any given time across the globe. However, experienced traders typically keep abreast of economic releases from different countries, which generally have an impact on many currency pairs.

 

👉 In most cases, markets typically discount the news based on investors’ expectations, which means that by the time the news is released, the big moves in the affected currency pairs would have already taken place. Therefore, it is important to make trades related to major news events way before the actual news is released.

Alternative Brokers to Exness

Alternative Brokers to Exness

➡️ TD Ameritrade

➡️ AvaTrade 

➡️ ACY Securities

➡️ FXCM

➡️ Pepperstone

➡️ Webull

All About Exness’ Rebate System

Exness' Rebate System

How much rebate can I pay back?

👉 Rebate percentage can be set to be anything between 0% and 100%.

 

Payment schedule

👉 Rebates are paid daily to the selected referred clients who have closed any trades within the last 24 hours. Daily payments need to be approved by the partner.

 

👉 Once rebates are set up from your PA, rebates will be automatically calculated for the selected referred clients every time you receive rewards. Total daily rebates will then await your approval in the Approval section of the Rebates tab, or be automatically distributed if you have selected automated approval on rebates for specific referred clients; more information about this is available in the article about how to manage rebates.

Overall Rating

Min Deposit

USD 10 / 4145 NGN

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 Time

24 Hours

Exness Affiliate Program

Exness Review Affiliate Program

👉 Exness is a frontrunner in the field when it comes to regular and appealing pay-outs. Each active customer referred by an affiliate earns the affiliate a commission of up to $1,770.

 

👉 First-time deposits (CPA) and leads (CPL) are paid for by Exness, with CPA as follows:

➡️ It pays up to $1,770 depending on the platform, country of residence, and the amount that referred customers deposit with a minimum first-time deposit of $10.

➡️ More than 40 nations across the globe can use Exness.

➡️ Additional incentives are offered for the greatest overall performance.

➡️ The CPA plan is chosen by default when a trader registers.

 

👉 The following are included in the CPL plan:

➡️ Nigeria affiliates can earn up to $25 for each signup of the referral site that they utilize.

➡️ The pay-out will rise in proportion to the number of new members.

➡️ High traffic as Exness currently receives visitors from over 40 countries.

➡️ Regular monthly pay-outs are guaranteed, as are incentives for the greatest overall performance.

➡️ This plan is only available via the Exness Affiliate Department and Kenyans must contact the team for all queries.

Exness Social Responsibility

Exness Review Social Responsibility

👉 With a primary emphasis on the supply of investment services, Exness has had a noticeable presence in global financial markets since its inception in 2008. As the company’s chief executive officer, Petr Valov is passionate about the company’s policy on Corporate Social Responsibility (CSR) and how it enables him to give back to society.

 

👉 Employees and customers alike can rely on Exness to be open with them about their aims and aspirations while also serving as a steadfast support system for them as they strive to reach their full potential professionally and personally.

 

👉 Exness continuously strives to achieve more in Corporate Social Responsibility, whether it is in education, environmental reasons or addressing any risks, social and medical, in the society where people live and work in. Exness is committed to providing educational opportunities for today’s children that are relevant to the broker’s own line of work. 

Verdict on Exness

👉 Exness provides a simple trading solution for both new and experienced traders, thanks to the wide range of accounts it offers. Among these accounts are commission-free, commission-based, and spread accounts.

 

👉 Because Exness employs innovative software and technology, it assures reduced trading risks. As a result, traders can be certain that their orders will be executed quickly and securely.

 

👉 There are more than 30 options to withdraw and deposit money at the firm. Moreover, most of its deposit and withdrawal options are free. In addition, Exness provides free VPS hosting and quick withdrawal access when a withdrawal request has been made.

Exness Current Popularity Trend

👉 According to Google Trends, Exness has increased in Google searches in Kenya in the past month. 

Exness Current Popularity Trend

Exness Pros and Cons

✔️ Pros❌ Cons
Exness has a global presence and has authorization and regulation with market regulators around the globeThere is a limited selection of tradable instruments and only a few asset classes
Exness offers instant withdrawals and depositsThere are only a few funding options offered
Nigerian traders have a choice between several dynamic account types
Client fund safety is guaranteed and there is investor protection offered
Exness offers 24/7 customer support that is both prompt and helpful
There are tight and variable spreads offered with competitive commissions

Frequently Asked Questions

Is Exness a good and legit broker?

Yes, Exness is considered good and is well-regulated by FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA.

Which trading platforms are supported by Exness?

Exness supports the use of these trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • Exness Web-based Terminal
  • Exness Proprietary Trader App

Does Exness offer leverage and what is the maximum ratio offered?

Yes, Exness offers the following leverage ratios:

  • Equity up to $30,000 (3,400,000 KES) – 1:500
  • Equity between $5,000 to $29,999 (570,000 KES to 3,400,000 KES) – 1:1000
  • Equity between $0 to $4,999 (0 KES to 570,000 KES) – 1:2000
  • Equity between $0 to $999 (0 KES to 114,000 KES) – Unlimited leverage

What is the overall rating for Exness out of 10?

The overall rating for Exness is 8/10.

Is Exness suitable for beginner and professional traders?

Yes, Exness is an ideal broker that can be used by beginner and professional traders.

9.4/10 - (20 votes)

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