Yonna forex branches in gambia

Exness office in nigeria

Best Forex Brokers in Nigeria 2022,Our global presence

The Exness Group operates numerous entities including: E xness (SC) LTD is a Securities Dealer registered in Seychelles with registration number and authorised by the Financial Services Authority (FSA) with licence number SD The registered office of E xness (SC) LTD is at 9A, CT House, 2nd Floor, Providence, Mahe, Seychelles Central Office Park, Jean Avenue, Unit 4 Johannesburg Curaçao Emancipatie Boulevard Dominico F. “Don” Martina 31 British Virgin Islands Trinity Chambers, P.O. Box Road The Exness Group operates numerous entities including: E xness (SC) LTD is a Securities Dealer registered in Seychelles with registration number and authorised by the Financial 07/12/ · The registered office of Exness B.V. is at Emancipatie Boulevard Dominico F. “Don” Martina 31, Curaçao. Venico Capital Limited is authorized by the Financial Services 06/05/ · Exness Broker Review Overall Rating / 5 Visit Broker Accepts Nigerian Clients. Average spread EUR/USD pips on trading account with lowest minimum deposit. ... read more

Although, the unavailability of a local office in Nigeria and local bank transfer can be an obstacle for many traders in Nigeria. Read our honest review of Exness Nigeria which includes various pros and cons for Nigerian forex and CFD traders. Exness is regulated by 3 Top Tier regulatory authorities out of which one FCA is a Tier-1 regulator. The broker has been providing forex and CFD trading services since and is among the largest brokers in world in terms of trading volume. We found Exness to be quite transparent with the financial statement as they publish their financial report each year on their official website.

The financial statements are audited by Deloitte, which is a reputed global auditing firm. But, Exness does not have a local office in Nigeria. It does not have a parent banking firm and is not listed on any stock exchange which limits us to give five-star ratings in terms of safety. Compared to other forex and CFD brokers operating in Nigeria, we found Exness to be safe for the traders. It is regulated by multiple regulatory authorities and is transparent with the financial statements and balance sheets.

The fee structure is a bit complex at Exness as they provide 5 different account types and the fee pattern differs for each account type. Out of the five, 4 account types can be opened with Naira NGN as the base currency. To provide a better perspective of the fees to traders in Nigeria we compared the trading and non-trading fees for each account type.

Trading Fees The trading fees at Exness involve the spreads and commissions for executing a trade. The spreads for the standard account type, which is a commission-free account, start from 0. The most attractive account type is the pro account at which the spreads are as low as 0. The spreads for standard, standard cent, and pro account types are variable while the raw spread and zero account types offer fixed spreads. Both the account types do not charge any commission or hidden charges from traders.

Following is the comparison table that differentiated between the spreads incurred at Exness with different account types for major trading instruments. Although, a commission of 3. The zero account type does not involve spreads for any currency pair while the raw spread account may charge a small spread for some of the currency pairs.

Swap Fees: The swap fees or overnight charges are incurred to traders for every position that is kept open overnight. The swap rates for each instrument are different and must be checked before keeping any position open for the next trading session.

The cost on every opened position will keep increasing by swap rate for every night. If we compare these swap rates with those of other regulated brokers in Nigeria, the swap fees at Exness are lower than average. Non Trading Fees Non-trading fees include all the charges incurred to the trader without executing any trades. The Non-trading fees at Exness are comparatively lower than most of the regulated brokers in Nigeria. Exness does not charge any deposit or withdrawal fees from the Nigerian traders for most of the methods.

However, some of the third-party payment gateways like Bitcoin, Neteller, Skrill, etc may charge additionally from the traders for each transaction. The account opening is free and unlike many forex and CFD brokers in Nigeria, Exness does not charge any inactivity fees from the traders.

Overall, we liked the low trading as well as non-trading fees at Exness. As a market maker broker, it makes a profit on the losses of traders, and hence, the fees are fairly low. Compared to its peers in Nigeria, we found the fees at Exness to be much lower than a majority of the brokers.

Exness supports the most widely used MetaTrader 4 and MetaTrader 5 trading platforms for various devices. It supports the web, PC, tablet, and mobile trading with multiple features to enhance the trading experience. The trading platform is user-friendly and supports various features for charting and analysis purposes. We found no issues related to the trading platform in Mac OS, Linux, Windows, iOS, and Android devices.

The customer support service is impressive, with the live chat and email support at Exness. It does not have a local phone number in Nigeria although, traders can connect with their international helpline number. We tried reaching out to Exness with all the three available methods. We found the customer support staff to be helpful as all our queries were answered with relevant replies. We have created a quick 6 point checklist that you should look for while choosing a forex broker.

Regulations: Regulated brokers are safe to trade with, hence it should be the number one criterion. Since Nigeria has no local regulations currently, ensure the broker is regulated with at least one globally reputed regulator like FSCA or FCA. We also suggest avoiding those brokers who claim to be regulated but are actually licensed under island regulations like Belize, VFSC, etc. Regulated brokers generally mention their regulatory license detail along with the license number at the footer on their official website.

These details of the regulatory licenses mentioned on their website can also be cross-checked for authenticity. Clients from each jurisdiction are registered under a particular regulatory authority. For example, Australian clients are mostly registered under ASIC regulation. Nigeria does not have a local regulatory authority governing the forex and CFD brokers. Hence, it is important to acknowledge the regulation under which the clients are getting registered.

The regulations can greatly affect the trading experience as max leverage, instruments, and trading conditions are structured according to regulatory compliance. Clients can visit the website of the concerned regulatory authority to check the register of licensed brokers and trading service providers. The license number or the name of the broker can be used to search the details of their regulatory license. For example, the details of the FCA regulatory license can be checked online on Financial Services Register at FCA official website at register.

You will find a list of all the licensed firms under various categories, so you can verify whether your broker is an approved dealing member or not. You must also be aware of the scam brokers that may dishonestly claim to be regulated while showing the license number of other licensed brokers.

The following table mentions the regulatory licenses held by the Best Regulated Forex Brokers in Nigeria. Clients must cross check the current regulatory status of the brokers before choosing any. The authenticity of the regulatory license can be cross checked from the official website of the regulatory authority.

The broker name and the license number can be used to search for the details of regulation. As forex trading is currently not regulated in Nigeria, clients are at their own risk if there is a dispute between broker and clients. Hence, Nigerian clients must double check the regulation and safety of their funds with the broker before opening their account.

Clients residing in Nigeria must check the regulatory licenses held by the broker and the regulation under which they are getting registered with the chosen broker. Trading fees: Brokers mainly charge spread on a trade, commissions per lot if any , and other hidden charges in some cases.

Brokers also charge overnight charges in the form of rolling fees if the position is held open overnight. There may also be deposit and withdrawal charges every time you make a transaction. Make sure the overall fee is as low as possible, and look into the withdrawal fees, and inactivity charges as they might add up to a lot in the longer run. Spread in CFD trading is the difference between the bid and ask price of the CFD instrument. Wider spreads mean lesser gain for the traders and higher revenues for the broker and liquidity providers.

Spreads are mostly floating or variable but some brokers can also offer fixed spreads on a few instruments. Swap fee is only applicable when a leveraged position is kept open overnight.

If you prefer trades of more than a day, you must check the swap rates on instruments. Each CFD instrument has different swap rates for long and short positions. Each instrument can have different spreads at different times of the day. Clients must get familiar with the timings when the spreads are lowest and trade accordingly. Most forex brokers have a list of trading instruments on their website where they compare the spread for each instrument for different account types.

You can use their search in the table to check the spread for any desired instrument. Similarly, all other forex brokers also have such lists on their websites where you can compare the spread.

Any regulated CFD broker will always provide you with this information before as well as after opening the account. Platforms: Trading platform is meant to make trading comfortable.

MetaTrader trading platform MT4 and MT5 is often a good start for serious beginners. It is even better if the platform offered supports mobile trading. Below is a picture of how MetaTrader 4 trading platform will look like on PC. There are plenty of features and tools on each trading platform that can enhance trading experience.

It is important to spend time and effort learning about the features and use of a platform before trading real money. Practicing demo trading with a broker that you are about to choose can help with the decision, but remember that live trading conditions would vary.

Order Execution: Order Execution must be quick, without any re-quotes or slippage. Some brokers provide instant execution of orders mostly with market maker brokers while others provide Market Execution price is generated while execution, hence a possibility of slippages. and provide quick responses to emails within hours. If there is a Nigerian phone number for support, then it is even better. In our review of various Forex platforms, we found that HotForex and FXTM offer local phone numbers for support.

Almost every regulated broker has live chat support. the quality of the support service can be different for each broker. Traders can raise a random query to check the quality of support service on their own. Ease of Deposit and Withdrawal: The convenience of deposit and withdrawal can have a major impact on the trading experience with any of the forex and CFD broker.

You may not want to trade with a broker that has limitations, restrictions, or penalties on your preferred mode of transaction. Traders must check all the conditions for the preferred method of transaction. You can also inquire the customer support executives about deposit and withdrawals methods and conditions. Most Nigerian traders prefer to transact with Naira NGN from local banks but many offshore regulated brokers do not support deposits and withdrawals in Naira.

The minimum amount, transaction fees, and currency conversion fees if any should be checked for every method of deposit and withdrawal separately. There are a few common mistakes the new traders do while searching for the best forex brokers in Nigeria. Do not rely completely on suggestions of friends or family. You must do your own research. Checking reviews and gathering data can greatly assist but your selection should be based on your preference.

A suitable broker for one trader may not be ideal for the other trader. You must not fall for the prey. Many fake or unlicensed brokers offer lucrative bonuses to attract new traders. The bonus offers must be utilized but only after choosing a broker based on the above-mentioned factors.

Do not make a decision only due to low fees. Brokers with low fees are always preferred by beginners but fake brokers take advantage of this preference. They may offer very low and unrealistic fees to get your deposits. ASIC: The Australian Securities and Exchange Commission ASIC is an Australian financial regulatory authority. A broker with ASIC regulatory license can be considered safe but only the clients residing in the Australian Jurisdiction are registered under ASIC regulation.

CySEC: The Cyprus Securities and Exchange Commission CySEC is a popular regulatory authority among the international CFD brokers. Cyprus is an island nation in the Mediterranian Sea but it a member of the European Economic Area EEA. A regulatory license from CySEC allows brokers to accept clients from all the member countries of the EEA.

Hence, most of the international forex and CFD brokers hold regulatory license from CySEC. Regulation from CySEC makes forex brokers safe but not as that from FSCA, FCA, or ASIC.

IFSC: The International Financial Services Commission IFSC is a Financial Services Commission and a government agency of Belize. Belize is a Caribbean country on the northeastern coast of Central America. The entities of broker that are regulated under IFSC of Belize can accept clients from various countries of the world. Nigerian clients can also be registered under IFSC Belize regulation.

FSA: The Financial Services Authority of Seychelles FSAS is also an island based financial regulatory authority that regulates international brokers.

Nigerian clients are registered under FSA regulation by several brokers. Brokers with only FSA regulation can be considered of high risk compared to those who also have top-tier regulatory license. It must be noted that each broker can have multiple regulatory license and also have different legal entities and websites for each regulation.

This means that trading condition can be different for clients residing in different countries. The following table describes the regulatory licenses held by the Best Regulated Forex Brokers in Nigeria. The number of years in the industry, financial transparency, audit report, details of the owners, etc.

can also define the safety of traders with the chosen broker. Traders must check regulation and their safety with the broker before opening an account. Local office in Nigeria Apart from the easily accessible websites of the brokers, the presence of a local office can further increase the trust factor. Some traders prefer to trade with regulated brokers that have a local office in Nigeria. Availability of local offices also allows traders to take advantage of the customer support service through local phone numbers.

Although, it is not essential for a broker to provide local phone support if they have a local office in Nigeria. Spreads and Fees The amount that you pay to the broker can greatly affect the profit and loss booked while trading. The spreads, commission, and all the fees involved in trading must be checked and compared thoroughly before finalizing a broker. Many brokers offer multiple account types. The trading, as well as non-trading fees associated with each account type, can be different.

The spreads and commission can also differ based on the instrument selected by the trader. High-volume traders, scalpers, and many online traders prefer to trade with negligible spreads.

Many brokers offer trading with spreads as low as 0 at the cost of a fixed commission. The table below describes the average typical spread incurred by the best-regulated brokers in Nigeria for a round trade of 1 standard lot of the following instruments with their commission-free standard account types.

All the spreads mentioned are the typical average of variable spreads in pips per lot. It differs based on market conditions and liquidity in the market. The table describes and compares the trading fees at concerned brokers. Apart from this, some brokers may also incur non-trading fees that are charged without executing trade orders. Each forex and CFD broker also charges swap fees if a position is kept open overnight. This fee is charged once for every night the position is kept open.

Each broker has its own mechanism to calculate the swap rates that are different for each instrument. Traders should check the swap rates of their preferred trading instruments before choosing a broker. Traders must enquire about every component of fees incurred at regulated forex and CFD brokers.

The fees should also be compared with other brokers to seek the best available option in the market. Traders must note that some of the fake and unregulated brokers try to attract traders by charging substantially lower fees.

Hence, fee comparison must be done among regulated brokers only and the fees should never be the only basis for selecting a broker in Nigeria. Deposit and Withdrawal A broker with multiple top-tier regulations and low fees is of no use if the deposit and withdrawal methods are not convenient. Before opening an account with any of the regulated forex and CFD broker in Nigeria, one must check the accepted transaction methods.

The lower cap on the deposit and withdrawal amount on the preferred mode of the transaction should be checked to prevent inconvenience while transacting. The minimum deposit amount can be different for each of the available methods. The processing time can also be different for each of the funding and withdrawal methods. Some brokers charge additional commission for withdrawal and deposit depending on the method selected while many brokers allow free transactions.

Currency conversion charges may also be applicable if the deposit currency is different from the base currency of the account. Nigerian traders who wish to trade with NGN as base currency must check whether the broker offers Naira based trading account or not. Some brokers also offer their own trading platforms while many rely on third-party trading platforms. Metatrader 4 and Metatrader 5 are the most preferred trading platforms for forex and CFD trading globally. Some traders also prefer the cTrader trading platform.

Traders must ensure that the trading software available with the regulated broker is user-friendly. They should also make themselves familiar with the terminologies and features to make better trading decisions.

A demo account can be quite useful to check all the details of the trading platform before opening a real account. Customer Support This may not be the most important factor to consider before choosing a forex broker but can be very helpful. It is always good to choose a forex broker that offers diligent customer support service. Traders must ensure that their queries are solved within time and the connectivity with the support executives should be fast and convenient.

Exness is our 3 ranked forex and CFD broker in Nigeria. Read our honest review with all the pros and cons before trading at Exness in Nigeria. Exness is a market maker forex and CFD broker that was launched in We liked the low spreads on major currency pairs, low minimum deposit, variety of trading instruments, and various other pros of trading at Exness for Nigerian traders.

Although, the unavailability of a local office in Nigeria and local bank transfer can be an obstacle for many traders in Nigeria. Read our honest review of Exness Nigeria which includes various pros and cons for Nigerian forex and CFD traders.

Exness is regulated by 3 Top Tier regulatory authorities out of which one FCA is a Tier-1 regulator. The broker has been providing forex and CFD trading services since and is among the largest brokers in world in terms of trading volume. We found Exness to be quite transparent with the financial statement as they publish their financial report each year on their official website.

The financial statements are audited by Deloitte, which is a reputed global auditing firm. But, Exness does not have a local office in Nigeria. It does not have a parent banking firm and is not listed on any stock exchange which limits us to give five-star ratings in terms of safety. Compared to other forex and CFD brokers operating in Nigeria, we found Exness to be safe for the traders. It is regulated by multiple regulatory authorities and is transparent with the financial statements and balance sheets.

The fee structure is a bit complex at Exness as they provide 5 different account types and the fee pattern differs for each account type. Out of the five, 4 account types can be opened with Naira NGN as the base currency. To provide a better perspective of the fees to traders in Nigeria we compared the trading and non-trading fees for each account type.

Trading Fees The trading fees at Exness involve the spreads and commissions for executing a trade. The spreads for the standard account type, which is a commission-free account, start from 0. The most attractive account type is the pro account at which the spreads are as low as 0.

The spreads for standard, standard cent, and pro account types are variable while the raw spread and zero account types offer fixed spreads. Both the account types do not charge any commission or hidden charges from traders. Following is the comparison table that differentiated between the spreads incurred at Exness with different account types for major trading instruments. Although, a commission of 3. The zero account type does not involve spreads for any currency pair while the raw spread account may charge a small spread for some of the currency pairs.

Swap Fees: The swap fees or overnight charges are incurred to traders for every position that is kept open overnight. The swap rates for each instrument are different and must be checked before keeping any position open for the next trading session. The cost on every opened position will keep increasing by swap rate for every night. If we compare these swap rates with those of other regulated brokers in Nigeria, the swap fees at Exness are lower than average.

Non Trading Fees Non-trading fees include all the charges incurred to the trader without executing any trades. The Non-trading fees at Exness are comparatively lower than most of the regulated brokers in Nigeria. Exness does not charge any deposit or withdrawal fees from the Nigerian traders for most of the methods. However, some of the third-party payment gateways like Bitcoin, Neteller, Skrill, etc may charge additionally from the traders for each transaction. The account opening is free and unlike many forex and CFD brokers in Nigeria, Exness does not charge any inactivity fees from the traders.

Overall, we liked the low trading as well as non-trading fees at Exness. As a market maker broker, it makes a profit on the losses of traders, and hence, the fees are fairly low. Compared to its peers in Nigeria, we found the fees at Exness to be much lower than a majority of the brokers. Exness supports the most widely used MetaTrader 4 and MetaTrader 5 trading platforms for various devices.

It supports the web, PC, tablet, and mobile trading with multiple features to enhance the trading experience. The trading platform is user-friendly and supports various features for charting and analysis purposes. We found no issues related to the trading platform in Mac OS, Linux, Windows, iOS, and Android devices. The customer support service is impressive, with the live chat and email support at Exness.

It does not have a local phone number in Nigeria although, traders can connect with their international helpline number. We tried reaching out to Exness with all the three available methods. We found the customer support staff to be helpful as all our queries were answered with relevant replies. The unavailability of local Nigerian helpline phone number is a major drawdown for Nigerian traders but the customer support is still better than many of the regulated forex brokers in Nigeria.

Exness allows traders to choose from 5 different account types as mentioned on their website. However, we found that the standard and standard cent account types are nearly identical and the only difference is of the lot size.

Below is the description of all the available account types at Exness. Traders in Nigeria must note that all the available account types at Exness can be opened with Naira NGN as the base currency. Each account type allows maximum leverage of and gives access to all the available trading instruments.

Each of the account types can also be converted into an Islamic or swap-free account if the trader wants it. Exness also offers a demo trading account to allow traders to gain some experience and test their strategies with virtual currency before making actual trades.

The account opening process is simple and can be completed within a few minutes. The KYC process takes less than 24 hours on working days.

Clients need to submit their name and address proof along with their basic details. We liked the variation in the account types offered, low spreads, and the low minimum deposit for the standard and standard cent account types. Exness provides a suitable account type to each type of trader which is the reason we gave it a five-star rating in terms of account types.

We could not find useful research and education tools at Exness. There are no additional tools that can assist the technical or fundamental analysis of the traders. The financial calendar has details of the upcoming events and affairs that can impact the prices of currency pairs and CFDs. It provides details of upcoming interest rate change decisions, GDP declaration, NFP numbers, etc.

Exness grants access to the video stream of global financial news that is provided by Trading Central. It is a third-party financial investment research provider that includes news of every financial capital market globally.

The videos are uploaded at regular intervals and can allow the traders to get market insight. For Education, there are no specific tools that can enhance the trading strategies of the clients. However, most of the details required for learning to trade are provided under the Help Center which is similar to FAQ. The help center covers comprehensive details and step by step guide of account opening, personal area, trading platform, and common queries of the traders.

We could not find any educational or learning videos to assist the traders in forex and CFD trading. Wider variety in the availability of trading instruments gives more opportunities for traders to make profits.

Exness offers a wide variety of major, minor, and exotic currency pairs. A total of currency pairs are available at Exness which is very high compared to other forex brokers available in Nigeria. Apart from currency pairs, Exness also allows CFD trading on 40 stocks and indices, 7 cryptocurrencies, and 12 metals and energies. Those traders who only trade with forex currency pairs find Exness to be quite fascinating as it offers a significant number of currency pairs. The number of CFDs on stocks, indices, energies, and metals is decent when compared to other regulated brokers in Nigeria.

Exness does not charge any fees on deposits and withdrawals for most of the methods however some of the third-party methods may incur additional charges on transactions. Traders in Nigeria can deposit at Exness with multiple methods. The minimum deposit amount, time taken to process, as well as additional charges, can be different for each method. Offline Local Bank Transfer: Nigerian traders can fund their accounts with local bank deposits offline.

This is a much quicker alternative as the payment gets processed within 3 hours. There is no lower cap on the amount for this deposit method. E-wallets: Skrill, Webmoney, SticPay, and a few other E-wallets can also be used to deposit at Exness. This might incur additional commission from the third-party E-wallets which may not be covered by Exness.

Bitcoin: Deposits can also be made through Bitcoin cryptocurrency. Local bank transfer is the best alternative for traders in Nigeria. There is no lower limit for the deposit on a Standard account. All the methods available for deposits are also available for withdrawal. The withdrawals can only be done with the same method used for depositing. Compared to other regulated forex brokers in Nigeria, we found Exness to be quite convenient as the lower cap on deposit amount is much lower.

The availability of local bank transfers with no additional commission makes it much comfortable for Nigerian traders. We also enquired from their customer support staff regarding the same. Yes, we do recommend Exness to traders who wish to trade forex and CFDs from a regulated broker at low spreads with a low minimum deposit. It offers a significant number of currency pairs and has different account types suitable for every type of trader.

The customer support is user-friendly and helpful but a local Nigerian phone number is not available. Traders in Nigeria can have a trading account with Naira NGN or any other currency as a base currency. Compared to all the regulated forex and CFD brokers in Nigeria, we found several advantages of choosing Exness over others. Exness is regulated by top-tier FSCA South Africa and CySEC Cyprus. Forex trading is not yet regulated in Nigeria but choosing a foreign regulated forex broker is safe and legal in Nigeria.

The minimum deposit and withdrawal requirement at Exness depends on the method of deposit.

Best CBN Regulated Forex Brokers in Nigeria,Exness Nigeria – A quick look

26/03/ · XM does not have a local office in Nigeria and no local phone support is available for customer support. The support executives can be reached out through the live chat window 29/03/ · Exness is regulated by FSCA (FSP no. ) and CySEC (/12). It was launched in and offers trading on more than instruments including currency 06/05/ · Exness Broker Review Overall Rating / 5 Visit Broker Accepts Nigerian Clients. Average spread EUR/USD pips on trading account with lowest minimum deposit. Exness appeared on the market in Since then we have continuously created the new and improved the old, so that your trading on the platform is seamless and lucrative. And that’s just 07/12/ · The registered office of Exness B.V. is at Emancipatie Boulevard Dominico F. “Don” Martina 31, Curaçao. Venico Capital Limited is authorized by the Financial Services The Exness Group operates numerous entities including: E xness (SC) LTD is a Securities Dealer registered in Seychelles with registration number and authorised by the Financial Services Authority (FSA) with licence number SD The registered office of E xness (SC) LTD is at 9A, CT House, 2nd Floor, Providence, Mahe, Seychelles ... read more

For example, the details of the FCA regulatory license can be checked online on Financial Services Register at FCA official website at register. Exness also hosts frequent webinars in English, Arabic, Thai, Indonesian and Vietnamese. Platforms: Trading platform is meant to make trading comfortable. Exness is a low spread regulated forex broker with a wide range of currency pairs available to trade. Hence, fee comparison must be done among regulated brokers only and the fees should never be the only basis for selecting a broker in Nigeria.

FXTM is a well-regulated forex broker with excellent features for Nigerian clients. CFD trading is not suitable exness office in nigeria everyone. The fees should also be compared with other brokers to seek the best available option in the market, exness office in nigeria. Group Regulators. Enter the verification code sent to you either by email or SMS depending on your Personal Area security type. They are a forex and CFD broker, that is regulated with multiple global regulators, so trading with them is considered safe.

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