With the recent rapid growth of forex trading all around the globe, especially in countries like South Africa, people are more curious to find out a good forex broker for themselves. Exness has been the talk of the town, and there is a reason behind it, Exness minimum deposit. This article will walk you through the basic introduction of Exness and all the information you need to know about its minimum deposit feature.
Background of Exness
The Exness is a forex broker based in Cyprus, which means it will help you interact with the forex trading market acting as a mediator between the trader and the market. There are a lot of brokers currently on the market, and it is a very competitive scene. An important thing about Exness is that it is authorized and regulated by strict entities such as CySEC, the FCA, and SFSA.Exness minimum deposit
Exness offers a lot of basic features that almost every other broker on the market offers. However, the highlighting feature of this broker is the low deposit rate that it offers. We will discuss how much that matters and what kind of traders would use Exness for its minimum deposit rates. We will also cover the trade-offs you will be making if you trade with Exness.
First, let’s discuss why Exness minimum deposit rates are attractive and good for traders.Start with 10 dollars
The Exness minimum deposit
amount to open a trading account is 10 US dollars. The Minimum Deposit for traders might vary based on the trading account type selected.
The standard broker account offers opening up an account from 10 USD, which equals 140 ZAR for non-Vietnamese traders and 15 USD for Vietnamese traders. These rates are exceptionally low as compared to the average market rates.
Although if you choose to opt for a pro account on Exness to take advantage of all the extra features that it offers, then the minimum deposit limit is 200 USD which equals almost 7000 ZAR, it is not very low as compared to what the standard account offers but it is still below the average rates that most brokers offer for their pro accounts.Retail and new users
The Exness minimum deposit rates are attractive for new users on the market. Most users know that trading markets are expensive and require a lot of money to start trading in them. Forex trading has made it possible to trade by making the trading platform open and accessible to everyone. A highly competitive market broker also has to offer rates to get more new users interested in them.
New users can take a little risk rather than adjust being completely scared and skeptical when they are asked for deposit amounts like a hundred dollarsLimited resources
Many users want to start the forex trading business, but their resources are limited, and they cannot afford to invest huge amounts of money into something they are just starting. It could be a teenage student or someone who only has enough money to pay their bills, like 100 USD, would be a deal-breaker for them, and they would abstain from forex trading. A minimum deposit amount that Exness offers allows such users with limited resources that they can consider investing. Even if they are not one hundred percent sold on the idea, a minimum deposit amount will keep them interested if they ever consider it in the future when they have 10 dollars just lying aroundAn opportunity open to everyone
This brings us to our third point, which is a product of the first two, the minimum resources requirements by Exness have made forex trading open to a lot of users around the globe, there are countries where even rich people have to think a lot before even considering depositing an amount like 100 USD which is near impossible for them.Easy deposit process
The ten-dollar minimum deposit that Exness offers doesn’t come with any absurd terms or conditions. The user has to make an account and wait for the verification process to complete. Once the verification is completed, the user can proceed to deposit money into the account
Under the financial process account, the Exness account user can open the deposit section, and it’ll take you to payment methods. Based on the user’s area, it’ll shoe the methods available.
Users can pick a method; some methods are listed as instant methods which offer a faster transfer.
Then a user can fill out the required details and confirm the transfer.
It is great to see that Exness Is offering their minimum deposit services with an easier transfer method.Payment methods
Exness minimum deposit services offer payment services like Bitcoin, Tether, Internet Banking, Bank Card, Neteller, Perfect Money, Web Money, Skrill.
Exness does not charge any fees. Your credit card provider, bank, or payment system may apply a transaction fee or commission not in the broker’s control.
Deposits and withdrawals can be executed 24/7.Pros of Exness minimum deposit service
Cons of Exness minimum deposit service
- It starts at just 10 dollars
- It is open for everyone
vWide range of payment services
- No transfer fees
- Good transfer timings
- Well-regulated broker
- Minimum deposit amount lower than most brokers
Frequently asked questionsDoes Exness charge withdrawal fees?
- Conversion rates charged on deposits in currencies
Yes. But it depends upon the payment or withdrawal method.
Exness only charges withdrawal fees when traders use Skrill, and the withdrawal amount is less than 200 USD.How long does it take to make a withdrawal with Exness?
USDT and Internet Banking – up to three days
Bitcoin – almost four hours
Bank Cards - three to five working days
Methods like AstroPay, Perfect Money, Web Money, Neteller, Skrill, and Internal Transfer offer instant withdrawal.Conclusion
Exness minimum deposit is a great way for users looking to step into the forex market with very limited resources. It can also benefit users who don’t want to risk too much and test the waters. It doesn’t offer many advanced features with the minimum deposit account, but it is good for what it is.