Exness Forex trading in South Africa
Exness is a global online Forex and CFD trading platform. It is a financial technology company that provides services for individuals and businesses to trade in the global financial markets, including currency pairs, commodities, indices, and Cryptocurrencies.
Exness was founded in 2008 and is headquartered in Cyprus. It is regulated by various financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Financial Services Authority (FSA) in Seychelles.
Exness offers a range of trading accounts, including standard and professional accounts, and provides access to multiple trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The platform also offers various trading tools, educational resources, and customer support services to assist traders in their trading activities.
Exness is a fairly popular broker in South Africa. The company registers local residents and allows them to trade various instruments. It operates in South Africa in accordance with local regulations and offers competitive trading conditions including low spreads, fast execution, and flexible leverage options which we will cover in this article.
South African economy and Forex market
The South African economy is considered one of the largest and most developed economies in Africa. It is characterized by its diverse sectors, including mining, manufacturing, finance, services, and agriculture. The Forex market, comprising not only currency exchange but also commodity, equity, and derivatives trading, plays a significant role in the South African economy, contributing to its growth, investment, and foreign exchange inflows.
Many individuals in South Africa aspire to achieve financial independence and create wealth for themselves and their families. Forex and other instruments trading is seen as a way to potentially generate income and achieve financial goals through active trading and investing. This desire for financial independence and wealth creation has contributed to the popularity of Forex and other instruments trading in South Africa.
In addition, advances in technology have made it easier for South Africans to access and participate in a variety of financial markets including Forex, stocks, commodities, and more. This democratized trading and made it more accessible to a wider range of people, which also contributed to its popularity.
More importantly, trading in the Forex market and other instruments offers investors in South Africa diversification opportunities. Diversification is an important risk management strategy that allows traders to spread their investments across different asset classes, regions, and currencies to reduce risk and optimize returns. Trading Forex provides additional opportunities for diversification beyond traditional investments such as stocks and bonds.
Forex regulation in South Africa is overseen by the Financial Sector Conduct Authority (FSCA), which is the regulatory body responsible for supervising financial markets, including forex trading. The FSCA’s mandate is to protect consumers and ensure the stability, integrity, and fairness of the financial markets in the country.
Forex brokers operating in South Africa are required to obtain a license from the FSCA in order to provide forex trading services to South African residents. Exness is FSCA licensed and operates in South Africa in accordance with local regulations. This means that Exness adheres to the regulatory requirements and standards set by the FSCA to ensure the protection of traders’ interests and the integrity of financial markets.
In general, the Forex market in South Africa is attracting more and more local traders and international brokerages. It provides traders, investors, and businesses with the opportunity to participate in global financial markets and manage various risks. Exness, in turn, gives local clients the opportunity to take advantage of all the benefits of trading and provides the most favorable and competitive conditions.
Exness trading instruments in South Africa
As a global Forex broker, Exness offers a wide range of trading instruments to clients in South Africa. The specific trading instruments available on Exness may vary depending on the type of trading account. Here are some of the common trading instruments offered by Exness:
Currency pairs trading with Exness in South Africa
Exness offers a wide range of currency pairs for trading, allowing traders to participate in the global Forex market which is the largest and most liquid financial market in the world, where traders buy and sell different currencies with the aim of profiting from changes in exchange rates.
Exness offers a diverse selection of currency pairs for trading, including major, minor, and exotic currency pairs. Major currency pairs are the most widely traded and include currency pairs such as EUR/USD (Euro/US Dollar), GBP/USD (British Pound/US Dollar), USD/JPY (US Dollar/Japanese Yen), and USD/CHF (US Dollar/Swiss Franc), among others. Minor currency pairs, also known as cross currency pairs, are less frequently traded and do not involve the US Dollar in their currency pairs, such as EUR/GBP (Euro/British Pound) or EUR/JPY (Euro/Japanese Yen). Exotic currency pairs involve currencies from emerging or less commonly traded economies, such as USD/ZAR (US Dollar/South African Rand), USD/TRY (US Dollar/Turkish Lira), or USD/MXN (US Dollar/Mexican Peso).
For clients in South Africa, Exness provides currency pairs that include the South African Rand (ZAR) as the quote currency, which means that ZAR is the currency in which the exchange rate is quoted. For example, USD/ZAR would represent the exchange rate between the US Dollar and the South African Rand, where USD is the base currency and ZAR is the quote currency. Traders can still trade these currency pairs by speculating on the price movements of the base currency relative to the quote currency.
South Africans can trade currency pairs with Exness with floating spreads and swaps, as well as the maximum leverage, which varies depending on the funds in your account and is 1:2000 on average.
Commodity trading with Exness in South Africa
Commodities trading with Exness is possible with the help of CFDs. CFDs allow traders to speculate on the price movements of various commodities without owning the actual underlying asset. Commodity CFDs offer flexibility in terms of trading strategies, including the ability to go long (buy) or short (sell) depending on market expectations. This allows clients to deal with both rising and falling commodity prices. In addition, commodity CFDs usually allow traders to leverage their positions, which means they can trade with less capital compared to the actual value of the underlying asset.
The maximum leverage for metals that you can use in your account depends on your account equity and the average is 1:2000 and for metals 1:200.
Stock and indices trading with Exness in South Africa
Exness offers South African traders the opportunity to trade stocks of well-known global companies or diversify their portfolios with indices. The stock list includes major technology and industry players like Amazon, Tesla, and Apple, as well as regional manufacturers. Popular and liquid indices such as FTSE 100, S&P 500, Dow Jones Industrial Average, and others are also available for trading.
When trading stocks with Exness, spreads are floating, and no swaps are charged. The leverage is fixed at 1:20, except for the announcement of financial statements and pre-closing times of the markets.
For indices, Exness also offers floating spreads, and swaps may be updated daily. Leverage is fixed at 1:400 for US30, US500, and USTEC, and 1:200 for other indices, except for pre-closing times.
Crypto trading with Exness in South Africa
Exness also offers clients in South Africa Cryptocurrency trading, including popular coins like Bitcoin, Ethereum, Litecoin, and Ripple. Traders can take advantage of Exness’ competitive spreads, low fees, and leverage options up to 1:400.
Besides, Exness tries to meet the needs of Crypto traders and offers the most popular combinations of various Cryptos with US and Australian dollars, yen, yuan, and other currencies.
Exness accounts and trading platforms in South Africa
Exness provides a wide range of trading accounts designed to cater to the needs of both beginners and experienced traders. These account types include:
- Pro: This account offers instant execution with zero commission and low spreads (starting from 0.1) for trading a diverse range of financial assets, including Forex, metals, Cryptocurrencies, energies, stocks, and indices.
- Raw Spread: Clients can trade Forex, metals, Cryptocurrencies, energies, stocks, and indices with minimum spreads and a fixed commission per lot (starting from 0.0), with commissions of up to $3.50 per side per lot.
- Zero: This account features a zero spread for the top 30 instruments, market execution, no requotes, and commissions starting from $0.2 per side per lot.
- Standard Cent: Trading conditions similar to the standard account, but designed for trading currency pairs and precious metals.
- Standard: This account allows trading of FX, metals, Cryptocurrencies, energies, stocks, and indices, with a minimum deposit required depending on the payment system used (typically $10 in most cases), low spreads starting from 0.3, no commissions, and unlimited leverage.
Exness’ diverse range of trading accounts provides options for traders with varying levels of experience, trading strategies, and preferences, making it suitable for both beginners and professionals alike.
As for trading platforms, Exness offers multiple options to meet the needs of different types of traders. These platforms include:
- MetaTrader 4 (MT4)
MT4 is a widely popular and versatile trading platform known for its user-friendly interface, advanced charting capabilities, and automated trading features. Exness provides MT4 as a downloadable platform for Windows and Mac, as well as a mobile app for iOS and Android devices, allowing traders to trade on the go.
- MetaTrader 5 (MT5)
MT5 is the successor to MT4 and offers enhanced features such as more advanced charting, additional order types, and improved performance. Exness provides MT5 as a downloadable platform for Windows and Mac, as well as a mobile app for iOS and Android devices.
- MetaTrader WebTerminal and Exness’s own WebTerminal
Exness offers two options for web-based trading terminals: MetaTrader WebTerminal and Exness’s own WebTerminal. Both options provide traders with the convenience of trading without any downloads or installations.
MetaTrader WebTerminal is a web-based version of the popular MetaTrader trading platform. It allows traders to enter their trading accounts through a web browser and provides access to various features such as advanced charting, technical indicators, and order management tools.
Exness’s own WebTerminal, on the other hand, offers a unique interface with an optimized design and focuses on providing essential trading tools without unnecessary information. It includes over 50 drawing tools and 100 indicators, along with an intuitive interface for a seamless trading experience.
- Mobile Trading Apps
Exness offers mobile trading apps for iOS and Android devices, allowing traders to access their accounts and trade on the go. The mobile apps provide a user-friendly interface, real-time quotes, advanced charting, and various order types, making it convenient for traders who prefer trading on their mobile devices.
Exness deposits and withdrawals in South Africa
Exness offers a variety of deposit and withdrawal options to facilitate seamless transactions for its clients such as bank transfers, credit/debit cards, e-wallets, and Cryptos.
Besides, Exness offers special fee-free deposit and withdrawal options for local traders in South Africa. One such option is Ozow, an EFT automated payment service that works with major banks in South Africa. Clients can fund their Exness account using Ozow without incurring any fees.
Another available option is SnapScan, a mobile transaction app that facilitates online transactions in South Africa. Clients can deposit funds into their Exness account using SnapScan without any fees.
For withdrawals, Exness offers the MyBux payment system, which is also free of charge.
Exness support and languages in South Africa
Exness provides customer support to traders in South Africa through various channels, including online chat, email, and phone. Traders can reach out to Exness’ customer support team for assistance with their trading accounts, platform usage, technical issues, or general inquiries.
Exness also offers support in multiple languages, including English, which is commonly used in South Africa. This allows traders to communicate with the customer support team in a language they are comfortable with, ensuring efficient and effective communication.
In addition to English, Exness also supports other languages, such as Chinese, Thai, Malay, Vietnamese, and more, to cater to its diverse global clientele. Traders can select their preferred language when communicating with Exness’ customer support team, making it convenient for traders from different regions, including South Africa, to seek assistance in their native language.
Exness is an online Forex and CFD trading broker that operates globally, including in South Africa. The company has offices in various locations, including Cyprus, the United Kingdom, Seychelles, Curacao, the British Virgin Islands, Kenya, and South Africa.
Having an office in South Africa allows Exness to provide localized customer support to its clients in the region. This includes assisting clients with their inquiries, resolving issues, and providing support in their local language and time zone, which can enhance customer satisfaction and trust.
Exness VPS hosting in South Africa
Exness offers a VPS (Virtual Private Server) hosting service to its clients globally, including in South Africa. The Exness VPS service allows traders to use virtual servers for their trading activities, providing a stable and secure environment for running their trading platforms and expert advisors (EAs).
Exness VPS hosting is available to traders who meet certain criteria, such as maintaining a certain minimum account balance and trading volume. The VPS service provides traders with several benefits, including:
- Improved trading performance: By using a VPS, traders can have faster trade execution and reduced latency as their trading platforms are hosted on a server that is geographically closer to the trading servers of Exness, resulting in potentially faster order processing.
- Uninterrupted trading: The VPS service ensures that users’ trading platforms are always connected to the market, even if there are issues with their local internet connection or power outages, reducing potential downtime and ensuring continuous trading operations.
- Enhanced security: The VPS service provides a secure environment for clients’ trading activities, with robust data protection measures and safeguards against unauthorized access.
Exness Social trading in South Africa
Exness introduced its Social trading service in 2019, aiming to make trading more efficient for both beginners and experienced traders. With Social trading, new clients can copy the deals of experienced traders, share ideas, and discuss different strategies.
There are three options for copying trades on the Exness website:
- Copying without open trades: A trader can choose a strategy for investments where no trades have been opened yet or will not be opened for some time. When the trader clicks “Open a new investment”, the system calculates the copy ratio. When the strategy provider opens a trade, it is immediately copied to the investor’s account at the same opening price.
- Copy with actually open deals: A trader can choose to invest in a strategy that currently has multiple open trades. When the trader clicks “Open a new investment”, the system calculates the copy ratio. The already opened trades are copied to the trader’s account using the current market price, which may differ from the price of opening trades on the strategy provider’s side.
- Subsequent copying: When the strategy provider opens new trades, they will be immediately copied to the investor’s account using the same opening price as the strategy provider.
Social Trading on Exness allows traders to easily follow and copy the trades of experienced traders, making it a convenient option for those who wish to learn from and replicate the strategies of successful traders.
Summing up: Exness in South Africa
Exness is an online broker that offers trading services in South Africa and caters to both beginner and experienced traders. The company provides various types of trading accounts with different features, such as standard and professional accounts with floating spreads, unlimited leverage, and options for trading Forex, metals, Cryptocurrencies, energies, stocks, and indices.
Exness also offers Social trading, allowing users to copy deals of experienced traders and share ideas and strategies. This can be a good option for novice traders who can learn from professionals and improve their trading skills.
In terms of deposit and withdrawal options, Exness supports multiple payment methods, including MyBux and SnapScan payment systems, for clients in South Africa.
The company also offers a free demo account for novice traders to practice and hone their trading strategies before trading with real money.
Exness is a reputable brokerage provider with a strong history of trustworthiness, as evidenced by its licenses from renowned regulators such as the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Services Commission (FSC), Financial Supervisory Authority (FSA), and others. Take advantage of Exness’ reliable services by clicking on our dedicated button below to start trading.
Exness Social Trading lets you follow traders’ strategies all over the world. Choose a strategy, fund your account, and profit from successful trades. Read an expert review to discover about Exness Social trading account kinds, trading conditions, commissions, free VPS, and becoming a strategy provider.
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Exness in South Africa - FAQ