Exness minimum deposit in ZAR (South Africa)
Accepts South African Clients
Exness is one of the biggest brokers in the world offering CFDs on forex, metals, and cryptocurrencies. In fact, this company has probably the largest trading volume among all forex brokers at $2.275 trillion. In Africa, South Africa is an active jurisdiction in forex trading. Luckily, Exness gladly accepts clients from South Africa. Today, we will look at the minimum deposit on the Exness Zar account. We will also look at what this broker has to offer to clients in South Africa.
Exness Minimum Deposit in ZAR
The minimum initial deposit varies depending on the Exness account type a user is on and the payment system. For the most part, the minimum initial deposit for standard accounts is $10 or equivalent in account currency. Luckily, for South African traders, the Rand is one of the accepted base account currencies on Exness. At the time of writing this, the exchange rate puts this amount at about R171 ZAR for South African clients.
For clients looking to trade on professional accounts, the minimum deposit is $500. This converts to about R8,575 ZAR at the current exchange rate. This might be expensive for some traders who don’t have the capacity to invest such amounts. Luckily, the Standard Cent account accommodates such people by allowing them to invest in cents. The minimum investment on this account is $10, the same as the Standard account. Exness is one of the best cent account forex brokers in the market today.
Risk warning: Remember that forex and CFDs available at Exness are leveraged products and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.
Available Deposit & Withdrawal Methods
Exness supports the following deposits and withdrawal methods
South African traders can deposit and withdraw money in Rands using bank transfers straight to their Exness ZAR Accounts. The good thing is that Exness accepts the South African Rand as an account base currency. Hence, clients do not have to pay any conversion fees. When funding your Exness account using Wire Transfers in South Africa, there is also no charge for processing transactions. The minimum deposit for this payment method is $10.
When withdrawing there are no fees charged except when there is a conversion needed. The withdrawal may take about 3 business days to reflect on a client’s account.Other deposit and withdrawal methods include E-wallets and credit/ debit cards. E-wallets such as Neteller, Skrill, Perfect Money and others allow depositing and withdrawal into the Exness ZAR account. The minimum deposit and withdrawal depends on the type of e-wallet used. When using credit/debit cards, the minimum deposit is $3.
Supported Platforms by Exness
Exness supports the following trading platforms
Exness is full of diversity and one is spoilt for choice when it comes to trading platforms. Top-rated platforms such as MetaTrader 5 and MetaTrader 4 are available on Exness. Metatrader 5 platform gives users access to various tools that improve the trading experience, including fundamental and technical research, trading signals, and algorithmic trading.
MetaTrader 4 is a well-known trading platform used by traders of various skill levels and degrees of experience, and it is essential to both brokers and traders. Other platforms include Exness app trader, Exness terminal, MetaTrader web terminal, and Mobile MetaTrader. All these platforms allow for one-click trading and ultra-fast execution. This is essential as it ensures traders do not miss out on profitable trades due to slow execution speeds.
Exness is a forex broker that has received licenses from numerous authorities, including the FSCA in South Africa. Exness ZA (PTY) Ltd has been given the authorization to function as a Financial Service Provider (FSP) with FSP number 51024 by the Financial Sector Conduct Authority (FSCA) in South Africa. Clients are always safer trading with regulated brokers.
In South Africa, the FSCA is in charge of keeping brokers in check to ensure they provide the best trading conditions to investors. Additionally, Exness has been regulated by the Financial Conduct Authority since 2020, and the CySEC since 2012. The longevity in the market and the company’s regulatory status are some of the reasons why Exness is a Tier One broker in the market.
There are a variety of trading instruments on Exness that fall primarily into 6 markets. These include Forex, Metals, Cryptocurrencies, Energies, Stocks, and Indices. As such, Exness allows investors to utilize the potential of the greatest financial markets in the world. There are over 100 different currency pairs available on Exness. Additionally, clients can trade stocks of some of the most recognizable brands in technology and business, such as Google, Amazon, Tesla, Alibaba, and Intel.
Further, clients can trade indices, where the Dow Jones Industrial Average, S&P 500, FTSE 100, and many more prominent indexes are available for selection.
For crypto traders, cryptocurrency trading is available around the clock, including on weekends. The only exception is when there is server maintenance. When this occurs, Exness will send you an email to let you know.
Did you know?
Exness is with over $2 trillion monthly trading volume one of the world’s largest brokers.
Spread and other fees
Exness primarily collects trading fees through spreads. Fortunately, Exness offers some of the lowest spreads in the industry today. For instance, their Standard account offers low spreads starting from 0.3 pips for major currency pairs. The Standard Cent account offers identical spreads while allowing clients to trade in cents. The Pro account is also Spread based. It has extra tight spreads starting from as little as 0.1 pips for some major currency pairs. There is no commission involved in these three accounts.
However, Exness does offer two accounts that allow clients to trade on commissions. Both of these accounts feature spreads starting from as low as 0 pips.
The commission on the Raw Spread account is variable and goes up to $3.50 per side per lot. In contrast, the commission on the Zero spread account is variable and starts from $0.2 upwards.
There are no inactivity fees, contrary to what most other brokers charge for the maintenance of dormant accounts. Rollover fees for positions that are open overnight are levied. This is a pretty common practice among brokers. Still, Exness is one of the cheapest brokers to trade with online. There are no hidden fees which is an added advantage.
Exness offers some of the cheapest trading fees to its clients. All the accounts that feature spread trading have ultra-low spreads that are not available on many broker sites. For clients on commission accounts, Exness does not disappoint. It offers some of the lowest commissions in the industry. Furthermore, the commission structure for Pro accounts is reasonably straightforward. Additionally, Exness offers a wide variety of account types to accommodate all kinds of traders. There are many platforms to execute trades, further accommodating different types of traders. It also offers a variety of trading instruments giving you a wide range of choices.
Finally, Exness is a regulated broker in many jurisdictions. With regulations from the FCA, the CySEC, and the FSCA, this broker has ample regulations and seems safe to trade with. Looking at all these features, we can say that it is one of the best forex brokers for clients based in South Africa. We encourage you to do further research to ensure this broker best suits your needs before you invest.