It renders the service of a no swap account and it also gives space for traders to make Copy Trading. easyMarkets was founded in by Gadi Hadar. This broker allows traders to make deal cancellations.

It also allows traders to make guaranteed stop-loss orders with negative balance protection. Alpari was founded in by Andrey Dashin. This broker allows traders to possess a stock trading account and traders can also invest. No swap account is also made available by the broker. eToro was founded in by David Ring, Ronen Assia, and Yoni Assia. From just N4, per month , you can advertise your products and services to over 1,, users on our website.

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Facebook Twitter Messenger Messenger Share via Email. Facebook Twitter WhatsApp Telegram. Close Log In. These are designed for a trader that wishes to use trading automation or copy trading.

HF Forex has a large range of bonus offers, which means extra cash to trade with. HotForex bonus offers include:. Visit HotForex. Nigeria has the largest population of Muslims in West Africa, so it makes sense we should mention a trading broker that offers trading account complaints with sharia law. Key offerings of NovaFX include:.

If you are an Islamic trader and need to comply with Sharia law, then NovaFX has an account that does not charge swaps or interest for active positions held overnight. This means there are no overnight or rolling fees which sharia law does not permit. GBPUSD will cost you 4.

This account has a flat fee for every 3 days you keep an open position. This fee is applied on a weekly basis. NovaFX offers a choice of 3 trading platforms. These are MetaTrader 4, MetaTrader 5 and cTrader. While the MetaTrader platform is going to be the most likely choice as these are the most popular trading platforms worldwide, cTrader is a worthwhile platform to consider.

While cTrader is available with several other brokers, one feature that NovaFX offers few other cTrader brokers offer is cTrader Copy. This feature allows you to follow and copy the trades of other brokers by using the signals they provide. NovaFX offers a choice of 3 trading accounts. These are MT4 Micro Account, MT5 Pro Account and cTrader ECN account. The MT4 Micro account is a good choice if you desire an account with a low minimum deposit, no commissions, and want to trade small amounts.

One benefit of this account is that you can choose between floating and fixed spreads. Fixed spreads can be a good choice if you are not an experienced trader or when the market climate is volatile. Unlike variable spread, which can change dramatically in extreme events, fixed friends remain stable which gives you an element of protection when things go bad.

This account uses MetaTrader 4. The MT5 Pro account is for serious investors. Like the MT4 Micro account, this is a spread-only account but has a higher minimum deposit. This account uses MetaTrader 5 and is best for the trader looking to trade large volumes because of the lower cost. cTrader ECN uses the cTrader trading platform and, unlike the other account, has commission costs over the spread. OANDA operates across the six most credible authorities, including:.

Along with regulation, OANDA has focused on pricing transparency and customer satisfaction. With pricing, they offer real-time data from liquidity providers and find mid-points across instruments.

This is communicated to traders to be transparent about spreads. Customer satisfaction is also enhanced through periodic trading news, instructor-led online trading education material, and a plethora of free tools and resources. If regulation, transparency and satisfaction are your priority, OANDA is the best forex broker for your trading needs.

The downside is the CFD provider offers low leverage, spreads are not as competitive as Pepperstone and IC Markets and trading markets such as cryptocurrencies are not available. Plus is a CFD broker with its own forex trading platform offering:.

They offer the best range of Cryptocurrency trading with instruments, including Bitcoin, Ethereum, Litecoin, NEO, Ripple XRP, IOTA, Stellar, EOS, Cardano, Tron and Monero. This can be traded on their real money or demo account to get a feel for these markets. Overall, Plus is recommended for those looking for a detailed forex trading demo account that works on their desktop or mobile devices and offers an extensive list of tradable instruments from currency to crypto. com is a global broker that offers low spreads, a diverse range of CFDs and the best trading platforms available.

As the broker is a market maker and uses a dealing desk when executing orders, all foreign exchange spreads are commission-free and competitive when compared to other top forex brokers. To gain access to Markets. You can trade over 2, different financial instruments, as well as use sentiment, technical and fundamental analysis tools when developing CFD trading strategies.

Alternatively, if you are looking for a trading platform where you can fully automate CFD with algorithmic strategies, both MetaTrader 4 and MetaTrader 5 are offered by Markets. com offers a range of unique trading analysis tools to help you develop complex CFD trading strategies. Sentiment tools help you analyse and measure market sentiment, providing you with a potential sign of how various financial markets might move.

Sentiment data and analysis is a great tool to gauge whether traders are buying and selling, as well as overall market confidence. Technical analysis tools play a vital role when developing trading strategies. Marketsx advanced charting tools help you identify trading opportunities and confirm market trends. Fundamental analysis tools help you stay up to date with the myriad of economic events that impact financial markets.

Marketsx tools allow you to observe significant events in real-time while analysing the effects on different financial markets. Using MQL4 or MQL5, you can create your own trading robots for fully automated trading. Within the MetaTrader community, trading robots are known as Expert Advisors EAs.

If you are a beginner trader and do not feel comfortable writing your own EAs, there are thousands of EAs available to download from the MetaTrader Marketplace online. MT4 and MT5 offer a narrower product range with no bonds or blends available, while Marketsx users gain full market access and can trade over 2, CFDs.

As a dealing-desk broker, Markets. com offers tight commission-free forex spreads as well as access to over 2, different financial markets. Regardless of your level of experience, the broker offers an appropriate trading platform MT4, MT5 or Marketsx with tools to help you develop trading strategies with over 2, CFDs to choose from.

View Markets. You can view the full review of Pepperstone here. You can view the best forex brokers globally here. Overall, Pepperstone is recommended with a full review provided.

Forex trading is legal in Nigeria and is regulated by the Central Bank Of Nigeria CBN. After spending some time viewing the CBN website, the team could not find a CBN-regulated broker list.

Other less known regulators include the IFSC, Belize, CIMA, CFTC and the DFSA Dubai Financial Services Authority. The list above is a shortlist with other brokers considered, including HotForex, AvaTrade, FxPro and Alpari, eToro and easyMarkets.

The FCA recently banned retail traders from trading cryptos. Nigeria had two financial regulators — The Central Bank of Nigeria CBN and the Securities and exchange commission SEC who have the authorisation to make laws and regulations regarding the trading of financial derivative products in Nigeria. While these bodies have the powers, at this time there is no process for brokers to obtain official regulation to operate in Nigeria.

We have never reviewed Octafx so cannot give a fair assessment but we plan to review them sometime this year. All of the brokers we have analysed above are great recommendations. Just make sure you choose a broker than has appropriate regulation. We use cookies to ensure you get the best experience on our website. By continuing to browse you accept our use of cookies. Brokers By Country Australian Forex Brokers UK Forex Brokers European Forex Brokers NZ Forex Brokers Canadian Forex Brokers US Forex Brokers Singapore Forex Brokers UAE Forex Brokers.

Lowest Spread Forex Brokers Lowest Commission Brokers High Leverage Forex Brokers Islamic Forex Brokers Crypto CFD Brokers Forex Demo Account ASIC Regulated Brokers CySEC Regulated Brokers. MetaTrader 4 Brokers MetaTrader 5 Brokers Spread Betting Platforms UK CFD Trading Platforms Automated Trading Software Scalping Trading Software Beginner Forex Trading Platforms Micro Currency Platforms.

Pepperstone Review IC Markets Review FP Markets Review CMC Markets Plus Review eToro Review IG Review FXCM Review. Home » Trading » Nigeria Forex Brokers. Best Forex Brokers in Nigeria To help Nigerian forex traders choose a broker, we compared the fees and forex trading platforms to find the best forex brokers in Nigeria. Written by Justin Grossbard Written by Justin Grossbard Co Founder. Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising.

Learn more this here. Top 10 Forex Brokers In Nigeria Our best registered forex brokers in Nigeria for November are: Pepperstone - MT4 Best Forex Trading Platform AvaTrade - Best Fixed Spread Trading Account FP Markets - STP Forex Trading Account FXTM - Nigerian Naira NGN Funding IC Markets - Lowest Spread Nigerian Broker HotForex - Best High Leverage Forex Broker OANDA - Most Regulated Broker FCA, ASIC Plus - Best Forex Demo Account NovaFX - Top Nigerian Islamic Account.

Visit Site. Our Rating. Review Of Pepperstone. Review of AvaTrade. Review Of IC Markets. FP Markets Review. FXTM Review. CMA Kenya. Other Regulators. Raw Spread. Commissions USD Base. Minimum Deposit. Swap Free Account. No Inactivity Fees. Funding Methods.

No Funding Fees. Currency Pairs. Index CFDs. Share CFDs. Commodities CFD. Retail Max. Leverage Kenya. Leverage With offshore regulators. MetaTrader 4 MT4. MetaTrader 5 MT5. Proprietary Platform. Automated Trading. Standard Stop Loss. Guaranteed Stop Loss. Demo Account. Pepperstone Is The Best Forex Trading Platform Pepperstone has the three top forex trading platforms based on popularity: MetaTrader 4 — Most Popular For Forex Trading MetaTrader 5 — Most Popular CFDs Trading Platform cTrader — Best Automated Trading Platform All fx trading platforms are available as desktop, webtrader, and mobile app platforms.

Other Key Features Of Pepperstone 1 Spreads And Commissions Pepperstone is the best forex broker in Nigeria, not just for their platforms but also their fees. Raw Spread comparison. Base Currency USD EUR AUD GBP. Total Fees. Visit Broker. Our Rating The overall rating is based on review by our experts. IC Markets Has The Lowest Fees IC Markets is based in Australia ASIC regulated and offers the lowest brokerage fees, including: Low spreads on major currency pairs and exotic pairings Low commissions for MT4, MT5 or cTrader forex traders No Deposit Or Withdrawal Fees Spreads Offered By IC Markets The table below compares IC Markets to other major forex brokers in Nigeria for average spreads.

AvaTrade — Best Fixed Spread Trading Account AvaTrade is a broker that only offers fixed spreads. Fixed Spreads AvaTrade is a multi-regulated broker that offers tight fixed spreads on a range of currency pairs and CFDs. AvaTrade Islamic Trading Accounts Although the broker only offers one main forex and CFD trading account as all spreads are fixed and commission-free, AvaTrade caters to Islamic traders by offering a swap-free account type.

FP Markets Offers An STP Trading Account FP Markets is a top ECN broker offering STP trading with tight spreads and fast execution speeds. Standard Account: Forex spreads from 1. Raw Account: ECN spreads starting from 0.

Trading Conditions Regardless of the account type or trading platform you decide on, you can enjoy excellent trading conditions with low spreads and fast trade execution. As well as low spreads, the NDD broker offers: A low likelihood of re-quotes and slippage. Low latency order execution. Over 60 major, minor and exotic currency pairs.

Use our interactive tool to find your perfect trading platform, whether you want to trade forex, crypto, stocks, CFDs or anything else. More and more people in Nigeria are turning to online trading platforms to buy and sell assets like forex, gold, stocks, and indices. The most important thing is that you choose a platform that offers great fees, lots of supported markets, and top-rated customer support.

The best trading platforms in Nigeria for can be found below. Scroll down to read our comprehensive review of each broker. There are a variety of core factors that you need to check in finding the best trading platform in Nigeria for your needs. This should center on metrics like commissions and spreads, payments, supported instruments, customer support, and of course — regulation.

Taking these key factors into account — below we review the best trading platforms in Nigeria. After all, you will likely be entering and exiting lots of positions throughout the day — looking to target modest but regular profits.

In this respect, Libertex is the best broker in Nigeria for this purpose. Crucially, this is because Libertex is one of the only online trading platforms that does not charge any spreads.

Additionally, many of the markets offered by this CFD broker are commission-free. Although some financial instruments come with a small commission that is payable per slide — this is rarely above 0. Libertex covers a broad range of markets — with the platform covering stocks from a variety of exchanges. You can also speculate on the future value of ETFs, indices, commodities, digital currencies, and forex.

This top-rated broker offers three trading platforms to choose from. Alternatively, you can trade via the Libertex online platform or mobile app. If you are relatively new to the world of online trading, Libertex offers a great selection of free educational materials. This is inclusive of guides and trading explainers, economic calendars, and a glossary of key investment terms. All markets on the Libertex platform can be traded with leverage and you can choose from a long or short position.

Visit Libertex Now. Axi Broker is an online forex and CFD broker that is available in over countries- including Nigeria. The platform was first established in and offers over 70 currency pairs to trade. The platform is popular for its competitive spreads and zero-fee policy. While it is known for its excellent forex trading software, Axi also offers cryptocurrencies, commodities and indices to trade. This means that traders can diversify their portfolio and explore various markets to mitigate risk.

However, the platform is not directly regulated in Nigeria. Never the less, the platform must comply with FCA and ASIC requirements which makes it a relatively safe platform to consider. One of the best features of the Axi platform is that it offers a demo account. This is a great way to test out the platform without putting any real money at risk. As well as this, there are several algorithmic trading tools available through Axi which can be used to automate the trading process and create a passive trading method.

Axi is integrated with both AutoChartist and MetaTrader- these are both excellent trading platforms that provide indepth charts, numerous analysis tools and advanced indicators. Both platforms are compatible on desktop and MetaTrader can also be used on a mobile device. Many traders in Nigeria are turning to automated trading solutions. This typically comes in the form of a forex EA Expert Advisors or robot. Either way, we found that AvaTrade is one of the best brokers in Nigeria for automated trading.

This is because the provider is fully compatible with MT4 and MT5. In fact, AvaTrade goes one step further by also offering support for ZuluTrade, MQL5, and Duplitrade. These third-party platforms and tools offer everything you need to deploy a fully automated trading system.

When it comes to supported markets, AvaTrader covers dozens of currency pairs, indices, bonds, stocks, ETFs, and cryptocurrencies. These markets are all offered in the form of CFD instruments — meaning that short-selling and leverage can be achieved at the click of a button.

A crucial stand-out selling-point of AvaTrade is that broker is regulated in six different jurisdictions. This ensures that your trading capital is protected at all times. AvaTrade is also popular with traders in Nigeria for its low fee structure. The platform builds all trading fees into the spread — meaning that you can trade commission-free.

AvaTrade is also popular with traders that are followers of the Islamic faith. This is because it offers an Islamic trading account — which ensures that no swaps are charged on positions carried over to the next day. This account type is also inclusive of Halal oil trading and Halah indices trading. Getting started at AvaTrade should take you no more than a few minutes. While many traders in Nigeria opt for a short-term trading strategy — some of you will likely want to build a long-term investment portfolio.

If this is the case — Trading is well worth considering. This user-friendly broker gives you access to over 10, shares and ETFs from a number of global markets. This has a strong focus on shares listed on the London Stock Exchange LSE and Alternative Investment Market AIM — which is perfect if you want to invest in the wider UK economy.

Other markets at Trading are inclusive of the NYSE and NASDAQ in the US, as well as exchanges in Germany, Spain, Switzerland, and Frankfurt. This is particularly useful for those of you that wish to invest in US-listed companies like Apple, Tesla, or Microsoft — many of which cost hundreds of dollars per share. But, by opting for Trading — you can purchase fractional shares of your chosen stock.

This means that you can invest in any stock of your choosing without needing to pay any share dealing fees. On top of a huge stock library, Trading is also popular in Nigeria as it offers CFD financial services. This covers a wide range of financial markets — such as stocks, forex, hard metals, and energies. You will pay a small trading fee of 0. As such, if CFD trading is what you are after — the likes of eToro and Libertex are more competitive. Skilling is an online CFD and forex trading platform that is very popular in Nigeria.

In particular, this top-rated broker offers one of the best mobile trading apps that we have come across. Available on both iOS and Android — Skilling makes the process of buying and selling CFD instruments on the move a seamless one.

The Skilling trading app gives you access to highly liquid markets. This includes hundreds of shares — most of which are listed on the NYSE and NASDAQ. You can also access energy markets on oil and natural gas, hard metals, forex, and indices. Each and every financial market offered by Skilling can be traded commission-free and with super-tight spreads. In fact, this starts at just 0. Although many traders in Nigeria opt to use the Skilling mobile app — the broker also offers support for third-party platforms.

This includes MT4 and cTrader. We should also note that Skilling offers high levels of leverage. Depending on your account type and the respective asset class — this goes as high as When it comes to safety, although Skilling was launched as recently as , the platform is authorized and regulated by European regulator CySEC — so you will benefit from a range of water-tight investor protections.

Visit Skilling Now. Your capital is at risk when trading CFDs with this provider. This top-rated broker — which was first launched in and is now a publicly-listed company — gives you access to over 80 currency pairs. Naturally, this is inclusive of all major and minor currency pairs and a huge selection of exotics, too. When trading forex with this provider, you will have two account types to choose from. If you are a casual trader then you will be best suited for the CFD account.

Instead, all fees are built into the spread. The spreads offered by IG are really competitive — even on the standard CFD account. If you are a professional trader you might prefer to open a DMA Direct Market Account with IG. This will allow you to trade with other market participants on a peer-to-peer basis — meaning you will get the best spread available. When it comes to margin trading , IG offers leverage of up to on major currency pairs and on minors and exotics.

Nevertheless, irrespective of whether you are a professional or retail client — IG also offers markets on stocks, ETFs, commodities, cryptocurrencies, indices, bonds, interest rates, and more. Raw spread accounts are super popular with those that wish to trade directly with other market participants. In fact, on major markets like forex — you will often have the luxury of paying no spreads.

This makes the broker ideal for those that seek to trade larger volumes. You should also expect super-fast execution times at this broker — with Pepperstone averaging just 30 ms Milliseconds per position. This is because the provider uses multiple Tier 1 banks for liquidity purposes.

We should note that Pepperstone is also suitable for casual traders. This is because it offers a Standard Account that comes with commission-free trading. This will, however, attract higher spreads starting from 1 pip. Either way, you will have access to liquid marketplaces at Pepperstone. This covers a great variety of stocks, indices, currencies, hard metals, and energies. When it comes to trading platforms, Pepperstone is compatible with cTrader, MT4, and MT5. Once again, these platforms are great for experienced pros and those looking to deploy a robot.

Although Pepperstone is arguably more geared towards professional traders — the platform does not have a minimum deposit policy in place.

Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader. Does not support copy trading. Do not trust anyone who tries to sell you a trading platform. Rather than interest rate-based payments, Islamic traders pay a flat-rate daily administration fee for forex positions held open overnight. Minimum Deposit. Although some financial instruments come with a small commission that is payable per slide — this is rarely above 0.

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