As a result of the ever-increasing demand for foreign exchange trading in Nigeria, the market is becoming increasingly saturated with Forex brokers who provide a diverse selection of remarkable features and reasonable pricing.
Because there are so many different brokers from which to pick, it can be challenging to tell which ones are trustworthy businesses and which ones are less so and hence more likely to put your hard-won Forex winnings at risk.
In this Exness review, we take a comprehensive look at this well-known and widely used broker in order to understand why it is considered to be one of the best Forex brokers in Nigeria.
Background of Exness
As of 2014, Exness had over $180 billion in monthly trading volume and 15,000 new accounts signed up every month since its founding in 2008.
More than 200 financial products, many retail account types, and a wealth of other tools are now available to Exness traders. The Exness Group’s website is available in 18 different tongues, and multilingual support staff is available around the clock, every day of the week.
The availability of leverage provides customers with a means to lower their margin requirements and increase their trading method options.
Exness also gives traders full control over their accounts by allowing them to withdraw money instantaneously using many electronic payment channels.
Exness regulation
Exness is subject to stringent oversight from a wide range of top-tier authorities, which include some of the most well-known and highly regarded regulatory organizations operating in the markets for Forex brokers in Nigeria.
Exness is well-regulated in numerous jurisdictions across the world to offer licensed broker services and provides its traders with a safe and secure trading environment, as can be seen from the broad regulatory list that is provided below:
- Financial Services Authority (FSA) – licence number SD025
- Central Bank of Cura̤ao and Sint Maarten Рlicence number 0003LSI
- Financial Services Commission (FSC) – licence number SIBA/L/20/1133
- Financial Sector Conduct Authority (FSCA) – licence number 51024
- Cyprus Securities and Exchange Commission (CySEC) – license number 178/12
- Financial Conduct Authority (FCA) – Financial Services Register number 730729
Exness Pricing
Exness’ spread is one of the lowest, if not the lowest, in the industry when compared to the spreads offered by other forex brokers.
Their EUR/USD spread is extremely low, coming in at an average of 0.1 pip for the Standard Account.
For traders using the Pro Account, the margin of error is significantly lower (around 0.6 pips on average). When you sign up for a Standard or Pro account, you won’t be charged any further commission.
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Exness customer support
Exness provides its customers with a number of different prompt avenues through which they can contact the client support team.
One of these avenues is a live chat option that is available around the clock, and the support team is fluent in a number of different languages spoken around the world, such as Russian, Thai, and Arabic, to name a few.
Exness Verdict
It is generally accepted that Exness is a genuine broker because it offers its customers a trading environment that is both safe and competitive.
As a result of this, Exness is regulated by some of the most reputable regulatory bodies in the industry in several global jurisdictions.
Additionally, Exness offers prompt and effective customer support, and it provides a highly competitive price offer that serves to foster long-term client relationships.
This broker provides new traders with access to a plethora of trading materials, as well as cutting-edge trading platforms and a diverse offering of trading assets. New traders will especially benefit from these features.
Also read: 6 best forex traders in South Africa and how they achieved it
