Closing a trading account is a decision that many individuals may eventually face for various reasons. If you’re considering closing your Exness account, this comprehensive guide will walk you through the process step by step. Exness is a well-known online Forex broker, and while they strive to offer exceptional trading services, circumstances may arise where you need to close your account.
Best Forex Brokers Ranking
| Rank | Broker | Review | Open Account | Bonus | Platform | Minimum Deposit | ECN |
|---|---|---|---|---|---|---|---|
| 1 | Exness |  | Open Exness account | 16$/lot | MT4, MT5, Exness, ... | 1$ | 10$ |
| 2 | IC Markets | | Open IC Markets account | - | MT4, MT5, cTrader | 200$ | 200$ |
| 3 | XM | | Open XM account | 30$ | MT4, MT5 | 5$ | - |
| 4 | XTB | | Open XTB account | 2000$ | MT4, xStation 5 | 1$ | 1$ |
| 5 | FBS | | Open FBS account | 140$ | MT4, MT5, FBS Trader | 1$ | 1000$ |
Why Close Your Exness Account?
Before we dive into the specifics of how to close your Exness account, it’s important to understand the common reasons why traders decide to take this step. Some of the most prevalent reasons include:
- Financial Goals: You may have achieved your financial goals or decided to discontinue your trading activities for personal reasons.
- Changing Broker: Some traders choose to close their Exness account to switch to another broker with different features, trading instruments, or conditions.
- Lack of Activity: Inactive accounts may accrue fees, and some traders opt to close their accounts to avoid these charges.
- Dissatisfaction: If you’re dissatisfied with the services, trading conditions, or customer support at Exness, you might consider closing your account.
- Financial Difficulties: Personal financial challenges may necessitate closing your trading account temporarily or permanently.
Now that we understand some of the reasons why traders choose to close their Exness accounts, let’s explore the steps you need to follow to successfully close your account.
Step 1: Contact Exness Support
The first step in the account closure process is to contact Exness customer support. You can reach them through several channels:
- Email: Send an email to Exness support at support@exness.com explaining your intention to close your account.
- Live Chat: Visit the Exness website and engage in a live chat with a customer support representative to request account closure.
- Phone: You can also call Exness customer support, and they will guide you through the process over the phone.
When you contact Exness support, make sure to provide all the necessary information, such as your account number and the reason for closure. They may request additional documentation or information to verify your identity.
Step 2: Verify Your Identity
For security reasons, Exness will require you to verify your identity before they proceed with the account closure. This step ensures that only the account holder can initiate the closure process. You may be asked to provide:
- A copy of your identification (passport, driver’s license, or other government-issued ID).
- Proof of residence (a utility bill or bank statement in your name).
- Information about your trading account, such as your account number and security questions.
Once your identity is verified, Exness will proceed with the closure process.
Step 3: Clear Your Account
Before your Exness account can be closed, ensure that your account balance is at zero. This means withdrawing any remaining funds from your trading account. If you have open positions, you’ll need to close them or transfer them to another account if you have one with Exness. Be aware that Exness may charge a fee for withdrawals, so check their fee schedule for the most up-to-date information.
Step 4: Confirm Closure
After your account balance is zero, Exness will guide you through the final steps of the closure process. You may be required to sign and submit a formal account closure request, either electronically or through physical documentation, depending on their policies. This request will serve as your formal request to close the account.
Step 5: Await Confirmation
Once you’ve submitted your account closure request, Exness will review it. They will also ensure that there are no open positions, pending transactions, or outstanding obligations associated with your account. After a thorough review, you will receive confirmation of your account closure.
Important Considerations
Closing your Exness account involves more than just following the steps mentioned above. Here are some important considerations to keep in mind:
- Outstanding Obligations: Make sure all trading positions are closed, and there are no outstanding obligations, including pending orders or pending withdrawals.
- Account Activity: Be aware that Exness may charge fees for inactive accounts. Make sure to settle any outstanding fees before closing your account.
- Tax Implications: Depending on your jurisdiction and the gains or losses in your trading account, there may be tax implications when closing your account. It’s advisable to consult with a tax professional to understand your obligations.
- Account Statements: Consider downloading and saving your account statements for your records before closing the account.
- Reopening Account: If you ever wish to reopen your Exness account in the future, contact their customer support for guidance. You may need to go through a reactivation process.
Conclusion
Closing your Exness account is a straightforward process, but it requires careful attention to detail. Make sure to follow the steps outlined in this guide, and communicate with Exness customer support for any specific instructions or questions. By closing your account properly, you can avoid any potential issues or fees in the future.
Remember that while closing your Exness account is a personal decision, it’s essential to evaluate your reasons and consider other options, such as switching to a different broker or temporarily suspending your trading activities, before making a final decision.
