Naira Account Benefits
NGN accounts save Nigerians money by eliminating currency conversion costs. They support local payment methods and clear cost tracking. Benefits include:
- No conversion fees for deposits or withdrawals.
- Easy budgeting in Naira.
- Fast transactions with Paystack or bank transfers.
- Access to all Exness trading platforms.
Use NGN accounts for cost-effective trading. Check fees in your Personal Area. Practice on a demo to understand costs.
Opening a Naira Account
Open an NGN account in your Exness Personal Area after registration. Choose Naira as your base currency during setup. Verify your account to start trading.
NGN Base Currency Selection
Select Naira (NGN) as your base currency when opening a Standard, Standard Cent, Pro, Raw Spread, or Zero account. This ensures all transactions display in Naira, simplifying cost tracking for Nigerians. Choose NGN in the account creation form in your Personal Area. Confirm your selection before funding. Use a demo to test NGN settings.
Converting to Naira Accounts
Switch an existing Exness account to NGN by opening a new Naira-based account in your Personal Area. You cannot change the currency of an existing account, so transfer funds to the new one. Check balance requirements before switching. Use a demo to practice account management. Contact support for assistance.
Verification for Nigerian Traders
Verification is mandatory for NGN accounts to enable deposits and trading. Submit ID and address proof to comply with regulations. Steps to verify:
- Log into your Personal Area.
- Upload a valid ID (e.g., passport, voter’s card).
- Submit a utility bill or bank statement (under 6 months old).
- Wait 24–48 hours for approval.
Use clear documents to avoid delays. Check status in your Personal Area. Contact support if issues arise.
Trading with Naira
Trade forex, crypto, and metals with NGN accounts on MT4, MT5, or Exness Trade. Costs display in Naira for easy tracking. Use calculators to plan trades.
Available Trading Instruments
NGN accounts support forex pairs, crypto CFDs, and commodities like gold. Popular instruments include EUR/USD and BTC/USD. Available instruments:
- Forex: EUR/USD, USD/NGN.
- Crypto: BTC/USD, ETH/USD.
- Commodities: Gold (XAUUSD), oil.
Check instrument availability in your platform. Test trades on a demo. Monitor market trends for better results.
Spreads & Commissions in NGN
Spreads start at 0.3 pips for Standard accounts and 0.0 for Zero accounts, with commissions on Raw Spread accounts (₦5,600/lot). Costs are shown in Naira.
| Account Type | Spreads (Pips) | Commission (NGN/lot) |
| Standard | From 0.3 | None |
| Raw Spread | From 0.0 | ₦5,600 |
| Zero | 0.0 (major pairs) | Variable |
Use the Exness calculator for NGN costs. Test spreads on a demo. Monitor fees to manage expenses.
Leverage & Margin
NGN accounts offer leverage up to 1:2000, reducing margin needs but increasing risk. Margin is calculated in Naira (e.g., ₦500 for a ₦1,000,000 position at 1:2000).
| Leverage | Margin (NGN) | Trade Size (NGN) |
| 1:100 | ₦10,000 | ₦1,000,000 |
| 1:2000 | ₦500 | ₦1,000,000 |
Start with low leverage to limit risk. Use the margin calculator. Practice on a demo to set safe levels.
Funding Process
Fund your NGN account via Paystack, bank transfers, or cards. Deposits are instant for most methods. Verify your account before funding.
Minimum Deposit Amount
The minimum deposit for NGN accounts is ₦5,000 for Standard and Standard Cent accounts. Pro, Raw Spread, and Zero accounts require ₦350,000. Steps to deposit:
- Log into your Personal Area and select “Deposit.”
- Choose Paystack or bank transfer.
- Enter ₦5,000 or more and confirm.
- Verify payment method if prompted.
Use local methods for speed. Check supported banks. Practice funding on a demo. Contact support for issues.
Withdrawal to Nigerian Banks
Withdraw funds to Nigerian banks or Paystack from your NGN account. Ensure the withdrawal method matches your deposit method. Complete verification to avoid delays.
Required Verification
Withdrawals require full account verification, including ID, address proof, and payment method verification. Submit a valid ID (e.g., driver’s license) and a utility bill (under 6 months). Verify your bank account with a statement showing your name. Complete verification in 24–48 hours. Use clear documents to avoid rejection. Check status in your Personal Area.
Withdrawal Timeline
Withdrawals via Paystack or cards take hours, while bank transfers may take 1–3 days. Processing starts after verification.
- Go to “Withdraw” in your Personal Area.
- Select Paystack or bank transfer.
- Enter amount and confirm.
- Track status in your account.
Use Paystack for faster payouts. Check bank processing times. Contact support if delayed.
Frequently Asked Questions
Can I trade forex with a Naira account on Exness?
Yes, you can trade forex, cryptocurrencies, and commodities with a Naira (NGN) account on Exness. The platform supports multiple instruments in NGN, allowing traders in Nigeria to access a wide range of markets without any restrictions on the assets they can trade.
What’s the minimum deposit for an Exness NGN account?
The minimum deposit for a Standard or Standard Cent account with Exness in Naira is ₦5,000. This low deposit requirement makes it easy for traders to get started with minimal capital and start exploring trading opportunities.
Are there conversion fees for NGN accounts?
No, Naira (NGN) accounts on Exness avoid currency conversion fees. This allows traders to deposit, withdraw, and trade in their local currency without incurring additional costs, making the process more convenient and cost-effective.
How long do NGN withdrawals take?
Withdrawals from Exness to NGN accounts using Paystack are processed in a few hours. For bank transfers, the process may take between 1 to 3 business days depending on the bank and payment method used.
Can I use Paystack for Exness NGN deposits?
Yes, Paystack is supported for instant deposits into your Exness NGN account. This payment method offers a quick and easy way to fund your account, ensuring that you can start trading immediately without delays.
What leverage is available for NGN accounts?
For NGN accounts, Exness offers leverage of up to 1:2000. While this provides a significant potential for increased trading volume, beginners should consider using lower leverage initially to help manage risk effectively.
Do I need verification for NGN account withdrawals?
Yes, for NGN account withdrawals, you will need to complete identity verification. This typically involves submitting proof of identity, proof of address, and bank account details to ensure the security of your transactions and comply with Exness’ regulatory requirements.