Exness are a broker that are continuing to expand, and grow, particularly outside of Europe (where the business is mainly institutional), and as a result, we have seen a lot of queries surrounding the Exness minimum deposit level.
Within this guide to Exness, we will explore the deposit minimum needed to open an account, as well as touch on the various account types offered, deposit & withdrawal methods supported, and regulations held by this forex broker. You will then be armed with most of what you need to decide if this is going to be the right trading platform for you!
Exness – A Brief Review of Services & Regulation
As a leading forex broker, Exness offers a wide range of instruments to trade and is regulated and registered with various global authorities; including Cyprus Securities and Exchange Commission (CySEC), FCA, FSCA, FSA and FSC.
Exness is a global forex broker, founded in 2008 that has won numerous awards, including “Best Customer Service” and “Best Trading Platform” in recent years. Offering online trading in more than 120 financial instruments, including currency pairs, metals, indices, and CFDs; Exness serves clients from over 190 countries and has offices in Cyprus, the UK, China, Russia, and Malaysia.
In May 2022, Exness Group reported user growth of 61% compared to the same month in the preceding year. The number of active clients increased to 300,000, while the total number of accounts opened since the brokerage’s launch exceeded 2.5 million.
The company’s strong performance was driven by several factors, including the launch of new products and services, expansion into new markets, and improved marketing efforts.
Exness Minimum Deposit – As Low As It Goes in ZAR, USD, EUR, or GBP
The Exness minimum deposit is just $1! You can equate that to around 16.5 ZAR in South Africa to get a trading account started, which is as low as you will find on the market. This level makes Exness one of the most financially accessible brokers in the industry, perfect for those looking to get started in forex trading with a limited budget.
Of course, with the Exness minimum deposit being so low does come with some trade-offs; main one being, that you will struggle to create trades with meaningful margin to allow space to breath. You will also find yourself limited to trading on a micro account, which is not a bad thing in itself as it offers much smaller contract sizes than a standard account. This means your potential risks, and any potential profits will be downsized too.
Still, if you’re just starting out in forex trading then the Exness minimum deposit could be perfect for you, or you could choose to start with something a little more than this but at your own preference, rather than it being insisted upon by the trading platform. Starting small does allow you to get your feet wet without risking too much capital, and once you’ve built up your skills and confidence, you can always move up to a standard account and trade with larger contract sizes should you prefer. Never be in a rush to risk more than you feel confident with!
Exness Account types – International Users Have Different Options Than Europeans At This Time
For retail traders, you will only be able to use Exness if you are outside of the EU, as the European business, whilst regulated, seeks to focus on the B2B and Institutional aspects of forex trading. For those inside Europe, you can find some approved brokers and trading platforms here.
The retail side continues to grow a rapid rate, with Exness Malaysia, South Africa, Nigeria, India, Philippines, and Latin America user numbers (amongst others) continuing to show no sign of slowing down. If you are not from one of the Exness restricted countries, or Europe, you can continue on to find out more about the various account types offered.
You will find that there are five types of accounts available at Exness: Standard, Standard Cent, Pro, Zero, and Raw Spread. The main differences between the account types are spreads, commissions, execution type, leverage, & minimum deposit as you will see from the table below.
|Minimum Deposit||From $1||From $1||$200||$200||$200|
|Spreads||From 0.3||From 0.3||From 0.1||From 0.0**||From 0.0|
|Trading Platforms||MT4, MT5||MT4||MT4, MT5||MT4, MT5||MT4, MT5|
** Zero spread for top 30 instruments 95% of the day
Both standard accounts are the entry account type at Exness; with a leverage of up to 1:2000, and a minimum deposit of just $1 (depending on the deposit method chosen). Spreads on both these accounts start from 0.3 pips, and the main difference between the two is the lack of MT5 availability on the standard cent account.
The remaining 3 account types are considered the Exness pro level offering, and have a lower margin required, alongside reduced spreads. The Raw spreads account it should be noted does have a commission payable per round lot instead, which is $3.5 per round turn; and the Zero account has commissions from $0.2 per lot.
Exness’ minimum deposit with these account types is higher, although at $200, this is still in line with many other brokers’ basic account minimum requirements. Once the initial deposit has been made above $200, future deposits can be made below this level from $1, depending on the payment method chosen.
Exness ZAR Account Minimum Deposit
Offering users the ability to run their accounts in ZAR as a base currency is not all that common, with most brokers keeping account currencies to the ‘majors’ such as USD, EUR, or GBP.
Exness is one of those forex brokers in South Africa that does offer a ZAR base currency account, with the deposit levels consistent with that of the USD base accounts. That would mean the Exness minimum deposit ZAR is from 16.5 for Standard accounts (depending on deposit method chosen), and around 3,300 ZAR for Pro, Zero, and Raw.
Exness withdrawal reviews show that this process is generally very easy and straightforward. We always find one or two conflicting comments, so this is not unusual, but broadly users seem to be happy with the Exness withdrawals process.
There are no fees charged for withdrawing money from your Exness account, and the process only takes a few minutes to complete from your end. There are also no minimum withdrawal amounts, so you can withdraw as much or as little money as you like.
You can make a withdrawal from your Exness account using a variety of payment methods, including credit/debit cards, bank wire transfers, and e-wallets such as Skrill and Neteller.
Exness Payment Methods – Deposits & Withdrawals
There are several ways to deposit money into, or withdraw money out of your Exness account. You can use a credit or debit card, bank transfer, or one of the many e-wallets accepted such as Skrill, or Neteller. The Exness minimum deposit as mentioned is from $1 (for some of these methods), and there are no fees charged by Exness for deposits or withdrawals.
Exness accepts deposits & withdrawals via the following methods:
Credit/debit cards – Visa, Mastercard, Maestro
E-wallets – Neteller, Skrill, WebMoney, UnionPay, Perfect Money, FasaPay, Sofort
How To Deposit Into Your Exness Account
Once you have submitted your application, the next step is to wait for approval from Exness. Once your account has been approved, you will be able to start trading on the platform and deposit funds into your account. The time it usually takes for account approval is just a matter of hours, depending on whether the submitted documents are accepted first time around.
To make a deposit into your Exness account, simply log in and go to the ‘My Accounts’ page. From there, select the account you wish to deposit into and click on the ‘Deposit’ button.
You will then be taken to a page where you can select your preferred method of payment. Select your method and enter the amount you wish to deposit. Once you have confirmed the details, your deposit will be processed and the funds should appear in your account balance within a few minutes.
Exness Restricted Countries
The following countries are restricted from trading with Exness, with European traders also not supported at this time (apart from professional or institutional traders) :
- Bosnia and Herzegovina
- Burma (Myanmar)
- Cote d’Ivoire (Ivory Coast)
- North Korea
- South Sudan
Exness Customer Support Channels
As there are always seemingly new, and novel ways for forex scams to target users, you should be aware of the official channels that Exness may use to communicate with you as a trader. If you are receiving any messages purporting to be from Exness outside of these methods, you should steer clear, and if in doubt check with these methods from the official Exness website.
- Email: emails sent from an @exness.com address and no other. For example, [email protected] – but as always, you need to check the precise spelling as there can be tiny differences in email phishing scams.
- MetaTrader: Exness does make use of messages sent via MetaTrader’s internal mailbox. If in doubt about the context of these you can go through to customer support on a call, or on live chat from the web portal to be sure.
- Telephone: You can call Exness on the official number listed on the Contact Us page of their website.
- Live Chat: Feel free to make use of live chat sessions directly from the Exness website.
MINIMUM DEPOSIT – $1
REGULATION – FSCA, CySEC, FCA