7 minute read
Is Exness Still Working in Nigeria? A Deep Dive for Traders in 2025
from Exness
by Exness Blog
Yes, Exness is still working in Nigeria in 2025, and it’s thriving as a go-to platform for forex and CFD trading. If you’re a Nigerian trader wondering whether Exness is accessible, reliable, and worth your time, this article has you covered. I’ll break down everything you need to know— from its availability and features to regulatory considerations and practical tips for trading with Exness in Nigeria. Let’s dive in!
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Why Exness Matters to Nigerian Traders
Exness, founded in 2008, has built a solid reputation as a global forex and CFD broker. With its user-friendly platforms, tight spreads, and diverse trading instruments, it’s no surprise that it’s a popular choice among Nigerian traders. Nigeria’s forex trading scene has exploded in recent years, fueled by a young, tech-savvy population and a growing interest in financial independence. But with so many brokers out there, why is Exness still a big deal?
For starters, Exness caters specifically to Nigerian traders with features like:
Low minimum deposits: You can start trading with as little as $1 on the Standard Cent account, perfect for beginners or those with limited capital.
NGN support: Exness allows you to open accounts in Nigerian Naira, avoiding costly currency conversion fees.
Localized payment methods: From local bank transfers to e-wallets and even cryptocurrencies, depositing and withdrawing funds is seamless.
24/7 customer support: Available in English and other languages, ensuring you’re never stuck without help.
But the big question remains: Is Exness still a viable option for Nigerians in 2025? Let’s explore.
Is Exness Available and Legal in Nigeria?
The short answer? Yes, Exness is fully available in Nigeria. You can register an account, deposit funds, trade a wide range of instruments, and withdraw profits without any hiccups. Exness isn’t banned in Nigeria, and there are no legal restrictions preventing Nigerians from using the platform.
However, there’s a catch: Exness is not directly regulated by Nigerian authorities like the Securities and Exchange Commission (SEC) or the Central Bank of Nigeria (CBN). Instead, it operates under international licenses from top-tier regulators like:
Financial Services Authority (FSA) in Seychelles
Cyprus Securities and Exchange Commission (CySEC)
Financial Conduct Authority (FCA) in the UK
For Nigerian traders, this means you’re registered under Exness’s offshore entity (Exness SC Ltd), regulated by the FSA in Seychelles. While this might sound risky, Exness’s global compliance, transparent operations, and regular audits by firms like Deloitte make it a low-risk choice for Nigerians. Plus, features like negative balance protection ensure you can’t lose more than your deposit, adding an extra layer of security.
That said, Nigeria’s forex regulatory environment is still evolving. The CBN and SEC oversee financial activities, but there’s no dedicated forex regulator yet. This lack of local oversight means you should always do your due diligence when choosing a broker. Exness’s adherence to international standards and its long-standing presence in Nigeria (since at least 2011, based on user reviews) make it a trusted option.
What Makes Exness Stand Out in Nigeria?
Exness isn’t just another broker—it’s tailored to meet the needs of Nigerian traders. Here’s why it’s a top pick:
1. Affordable Entry Point
Exness offers some of the lowest minimum deposits in the industry. The Standard Cent account requires just $1 (about ₦1,600 at current rates), making it accessible for beginners or those testing the waters. Even professional accounts like Raw Spread or Zero have reasonable entry points, with deposits starting at $200.
2. Tight Spreads and High Leverage
Exness is known for competitive spreads, starting at 0.0 pips on professional accounts and 0.3 pips on standard ones. This means you keep more of your profits. Plus, with leverage up to 1:2000 (or even unlimited for eligible accounts), experienced traders can amplify their positions—though this comes with higher risks.
3. Wide Range of Instruments
Whether you’re into forex pairs (like EUR/USD), cryptocurrencies (Bitcoin, Ethereum), commodities (gold, oil), or indices, Exness has you covered. With over 200 instruments, you can diversify your portfolio and tap into global markets.
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4. Seamless Deposits and Withdrawals
Nigerian traders can fund their accounts using local bank transfers, mobile money, e-wallets like Skrill and Neteller, or even cryptocurrencies. Withdrawals are fast—often processed within 24 hours—and Exness doesn’t charge fees for deposits or withdrawals (though your payment provider might). For example, the minimum withdrawal for local bank transfers is just $3, making it easy to access your funds.
5. User-Friendly Platforms
Exness supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and its proprietary WebTrader and mobile apps. These platforms are intuitive, with real-time charts, TradingView integration, and tools like economic calendars to keep you informed. Whether you’re trading on a laptop in Lagos or a smartphone in Abuja, Exness’s platforms are reliable even on shaky Nigerian internet.
6. Swap-Free Accounts for Muslim Traders
For Nigerian traders following Islamic principles, Exness offers swap-free accounts that comply with Sharia law, allowing you to trade without incurring interest on overnight positions.
How to Get Started with Exness in Nigeria
Ready to trade with Exness? Here’s a quick guide to get you started:
Sign Up: Visit Exness's official website and click “Sign Up.” Fill in your details, including your Nigerian phone number and email.
Verify Your Account: Upload your ID (like a driver’s license or international passport) and proof of address. This step is crucial for security and compliance.
Choose Your Account Type: Pick from Standard, Standard Cent, Raw Spread, Zero, or Pro accounts based on your trading style. Select NGN as your base currency to avoid conversion fees.
Deposit Funds: Log into your dashboard, choose a payment method (e.g., local bank transfer or e-wallet), and fund your account. The minimum deposit is as low as $1 for Standard Cent accounts.
Start Trading: Download MT4, MT5, or use the WebTrader. Explore demo accounts to practice risk-free before diving into live trading.
Challenges and Things to Watch Out For
While Exness is a solid choice, it’s not perfect. Here are some potential drawbacks Nigerian traders should keep in mind:
Regulatory Gap: Since Exness isn’t regulated by Nigerian authorities, you’re relying on its international licenses. While these are reputable, local oversight would add an extra layer of assurance.
Withdrawal Delays: Some users report delays during peak trading hours, though Exness generally processes withdrawals quickly.
Verification Issues: Account verification can sometimes be tricky, especially if your documents don’t meet requirements. Double-check your submissions to avoid delays.
High Leverage Risks: Unlimited leverage sounds tempting, but it can lead to significant losses if not managed properly. Always use risk management tools like stop-loss orders.
Is Exness Safe and Legit for Nigerians?
Exness is widely regarded as a legitimate and safe broker. With over 1 million active users globally and a 4-star rating on platforms like Trustpilot, it has a strong track record. Its licenses from regulators like CySEC and the FCA, along with features like segregated client funds and negative balance protection, make it a low-risk option.
That said, no broker is 100% risk-free. Nigeria’s lack of specific forex regulations means you should stay informed about any changes in local laws. Exness’s transparency, regular audits, and adherence to anti-money laundering (AML) policies help mitigate risks, but always trade responsibly.
Tips for Nigerian Traders Using Exness
To make the most of Exness, here are some practical tips:
Start with a Demo Account: Practice trading with virtual funds to get a feel for the platform without risking your money.
Leverage Educational Resources: Exness offers webinars, tutorials, and market analysis tools. Use them to sharpen your skills, especially if you’re new to forex.
Manage Your Risks: High leverage can be a double-edged sword. Set stop-loss orders and only trade what you can afford to lose.
Stay Updated: Follow Exness’s official channels and Nigeria’s financial news to stay informed about regulatory changes or platform updates.
Use Local Payment Methods: Opt for NGN bank transfers or mobile money to save on fees and speed up transactions.
Final Thoughts: Is Exness Worth It for Nigerian Traders?
Exness is not only working in Nigeria in 2025—it’s thriving. With its low entry barriers, NGN support, fast withdrawals, and robust platforms, it’s an excellent choice for both beginners and seasoned traders. While the lack of local regulation is a slight concern, Exness’s global licenses and transparent practices make it a safe and reliable option.
✅ Trade with Exness now: Open An Account or Visit Brokers 👈
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