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. 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 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 September 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. Unique Feature. 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. This broker has entered Nigerian forex market in The African continent is known for a widespread forex scam. It is therefore important to protect your hard earned cash from fake forex gurus, crypto scams, Ponzi schemes, get rich quick schemes and various con artists.

Please do yourself a favor and deposit your hard earned money only into the safe forex trading platform! Let me be honest with you, if you are going to pay anything over 1 Pip for the most liquid currency pairs is a robbery! They want your money and not your success. Many companies offering forex allow you to trade with over forex pairs, crosses and exotic pairs.

But question is, do you really need it? If you dont want to download any external software to your pc, use webtrader. Otherwise go with either cTrader or MT4. Pepperstone is the best forex broker for Nigerian traders based on the following criteria: strictly regulated and safe, low minimum deposit, fast trade execution and very low spread.

The Central Bank of Nigeria CBN and the Securities and exchange commission SEC has the authorisation to make laws and regulations regarding the trading of financial derivative products in Nigeria.

The Central Bank of Nigeria www. ng shortly just CBN is the main regulatory body that controls the capital markets including Nigerian forex brokers. Forex trading is legal in Nigeria. With the rapidly growing Nigerian economy, it was no wonder that the Nigerian forex market has witnessed rapid growth during the past decade, as more and more middle class Nigerians have been joining the forex market. This boom has led to many scams and fraud taking place. The national watchdog has been therefore cracking down on unregulated scam fx brokers who promise riches to newbies since the past few years.

The fx industry now tries hard to regain its good reputation. We strongly urge you to start trading with our recommended forex brokers.

To help you to find the best international online brokers in Nigeria in , we went ahead and did the research for you. We selected quality online brokers, checked and compared basically every aspect of their services, with a special focus on fees, safety, trading platforms, as well as deposit and withdrawal options. Service providers had to prove their excellence in multiple areas to be considered among the best online brokers.

And now, without further ado What makes a good online broker? Surely, they need to provide great services in all areas, especially in terms of fair fees and safety. Depositing and withdrawing money should be either free or cheap and the process user-friendly. Great trading platforms, an easy account opening procedure and a wide range of products also weighed heavily in the scoring.

These features are easy to list, but hard to figure out. We are testing brokers based on nearly criteria with real accounts and real money. You can find all the ranking criteria in our methodology. For a tailored recommendation, check out our broker finder tool. Answer a few simple questions and get a list of the most relevant brokers.

And now, let's see the best international online broker in Nigeria in one by one, starting with the winner, XTB. XTB is a global CFD broker with headquarters in London and Warsaw, founded in The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority FCA.

In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to regularly disclose its financials. XTB is considered safe because it has a long track record, is listed on a stock exchange and publishes its financial statements transparently. HEADS UP: Recent feedback about deposit and withdrawal — The details of depositing by wire transfer might be unclear for some of our users according to recent feedback we received.

If you have problems, head to the 'Deposit and withdrawal' section of the review, where we explain how to make a free wire deposit to your XTB account under the section's 'Deposit and fees and options' heading. Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. All commissions, spreads and financing rates if applicable for opening a position, holding for a week, and closing.

com is a global CFD broker founded in It has offices located in the United Kingdom, Cyprus, Australia, Seychelles and Gibraltar, where each is authorized and regulated locally by the Financial Conduct Authority FCA , the Cyprus Securities and Exchange Commission CySEC , the Australian Securities and Investments Commission ASIC and the Financial Services Authority of Seychelles FSA , respectively.

Recommended for investors and cfd traders looking for a great trading platform and excellent customer service. Visit broker Visit broker More Take your time and compare at your own pace. Sign up to receive bite-sized emails on specific account opening processes, fee calculation, brokerage comparison and more. ActivTrades is a global forex broker founded in It is regulated among others by the UK's Financial Conduct Authority FCA and the Commission de Surveillance du Secteur Financier CSSF of Luxembourg.

ActivTrades having a long track record and being regulated by the FCA, a top-tier financial authority, are all good signs for its safety. ActivTrades operates both UK and EU websites under the co. uk and. eu domains , as well as an international one. Some products, fees and conditions may differ depending on the entity concerned. Tickmill is a global forex and CFD broker, established in The company is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority FCA in the UK; and as such is considered a safe broker.

Recommended for forex traders looking for low fees who are familiar with the metatrader 4 platform. Pepperstone is an Australian forex broker that also offers CFDs. It was established in and opened a London office in to better serve its European clients. After Brexit, new clients registering from the EU are served by Pepperstone's German and Cyprus entities. Pepperstone is considered safe because it's regulated by 7 national regulators, including three top-tier financial authorities: the UK's Financial Conduct Authority FCA , Germany's BaFin and the Australian Securities and Investments Commission ASIC.

Recommended for forex traders looking for great account opening and customer service. Now that you know the top 5, you probably want to know how we came up with this list. Let's go through a few points quickly. You can be sure none of them is a scam.

They are all regulated by at least one top-tier regulator. At BrokerChooser, we test online brokers based on more than criteria, with real accounts and real money. We don't want to overwhelm you, so we will list only the top 5 criteria. These were the details, now let's zoom out. Here are the best international online brokers in for residents in Nigeria:. XTB is our winner , the best international online broker in Nigeria in Free and fast deposit and withdrawal.

Easy and fast account opening. Still unsure? For a tailored recommendation , check out our broker finder tool. If you enter the name of your country, it will show only the brokers that are relevant to you. Want more details? Compare brokers with the help of this detailed comparison table. Everything you find on BrokerChooser is based on reliable data and unbiased information.

Read more about our methodology. Toggle navigation Menu Close. Compare brokers. Compare Broker tool. Compare selected brokers by their fees, minimum deposit, withdrawal, account opening and other areas. Filter according to broker or product type, including stocks, futures, CFDs or crypto. COMPARE BROKERS. Compare highest-rated brokers. Compare other popular brokers. Compare Digital Banks tool. Best brokers. Not sure which broker to choose? FIND MY BROKER. Best brokers by category.

Country-specific recommendations. Trading Platform. Broker reviews. Online broker reviews crafted by our team of experts. Fees, minimum deposit requirements, withdrawal, account opening, research tools and more. We use over 50, data points and a consistent, fact-based methodology. ALL REVIEWS. Highest-rated brokers. Other popular brokers. Other reviews. For beginners. For advanced users. Topics we cover. The secret sauce. Learn more. Best international online brokers in Nigeria in Gergely K.

Intro and winners 1 XTB 2 Capital. com 3 ActivTrades 4 Tickmill 5 Pepperstone What makes a good online broker Bottom Line. Top 5 picks for best international online brokers in Nigeria in XTB is the best international online brokers in Nigeria in com takes second place. Low forex CFD fees and commission-free real stocks.

Great account opening experience.

If a broker a lot of negative reviews related to issues such as withdrawals, manipulation of price, spread widening etc. LIRUNEX Fees and Spreads. Trading platforms can be used across a series of devices, and they can either be web-based terminals, a mobile app, or software application. His aim is to make personal investing crystal clear for everybody. To gain access to Markets.

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