Top 31 Best Forex Brokers In Nigeria In 2022 [ LATEST UPDATE ]
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Finance

31 Best Forex Brokers In Nigeria

Best Forex Brokers In Nigeria – If you are reading this article, it means that you are looking for the best and most reliable forex brokers in Nigeria and that is not a problem as we got you covered in this article.

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We are going to be revealing the best of the best as these forex brokers are registered and they are the best forex investment companies in the country.

READ ALSO: Best Web Hosting Companies In Nigeria

Forex or FX means Foreign Exchange and it is making exchange between two or more currencies. When you hear forex trading, it means trading of currencies.

A lot of Nigerians have already ventured into this investment while some others are thinking of how they would start; well say no more as reading this article will help you see the best forex broker you can trade with.

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These forex brokers are financial service companies that help to provide the platform where buying and selling of foreign currencies can take place.

For you as a forex trader to have a successful trading, your forex broker is very important and that is why you should be very careful in choosing your forex broker as there are a lot of unregistered, unregulated and unreliable forex brokers in Nigeria.

We are hopeful that after reading this article, you will be able to make a decision as to which forex broker to trade with so as to enjoy forex trading.

Without much hesitation, let’s get the ball rolling…

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What To Consider When Choosing A Forex Broker In Nigeria

Before you choose a forex broker in Nigeria, you must consider the following factors so that you will be certain you are on the right track:

  • You must ensure that the broker has a history of at least 2 to 3 years
  • You must check that the trading platform falls under the regulation from a jurisdiction that can hold the broker responsible for any issue
  • You must ensure that the forex broker you want to use have an office in Nigeria
  • The forex broker must be regulated by CBN
  • You must ensure that the trading platform has the ability to get deposits and withdrawals processed in shorter time periods.

31 Best Forex Brokers In Nigeria

AvaTrade

We made avatrade the number one on our list of best forex brokers in Nigeria because of its simplicity an unique trading features. This broker was established in 2006 by Emmanuel Kronitz and it is the Best Fixed Spread Trading Account.  Meta Trader 4 gives traders access to over 250 assets, 30 advanced charting tools and trading history across all markets in Avatrade.

It offers forex trading, CFDs trading, social trading and Spread Betting trading and whether you are a pro or beginner, it is a wonderful partner as it gives you great trading conditions across forex commodities, cryptocurrencies, bonds, ETFs and equities.

It is regulated by Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVIFSC).

Avatrade does not charge its clients for making deposits and withdrawals as the only costs are e-wallet, bank card or bank transfer fees.

It is one of the best and most reliable forex broker and you get to enjoy the following benefits:

  • You get to deposit a minimum of $100
  • It supports Nigerian currency Naira for deposit
  • New traders get 20% bonus
  • Spread from 1
  • Fully regulated in Africa
  • 50+ currency pairs
  • 15 cryptocurrencies
  • Max Leverage of 400:1
  • Local depositing is available
  • Access to 24 hours professional customer support (five days a week)

For more information, visit https://www.avatrade.com/


IC Markets

This is an online broker that was established in 2007 by Andrew Budzinki and it offers forex, Spread Betting, Share dealing, CFDs and also Cryptocurrencies trading on both MT4 and MT5 with the cTrader platform for advanced traders.  So if you are looking for a broker that will give you the ability to choose between MT4, MT5 and cTrader platforms then this is the broker to use.

The broker can accept various levels of traders whether you are a beginner or an experienced trader.

IC Markets doesn’t offer any registration bonus but it employs long-term profitability strategies for their traders.

You get to enjoy the following benefits using IC Markets:

  • Minimum deposit of $200
  • 65 currency pairs
  • 10 cryptocurrencies
  • Max Leverage of 500:1
  • MT4/MT5/cTrader
  • 1750+ tradable instruments
  • No deposit or withdrawal fees charged
  • Spreads from 0.0 pips

IC Markets offers traders mobile apps for Android and iOS users and also two types of accounts which are the Standard account and Raw Spread account.

You can visit www.icmarkets.com/ for more information.


XM Group

If you are looking for a broker that will give you access to select the base currency of your preference from a large selection on offer, then XM is the online broker you should use. Its unique features earned it a spot on the 31 best forex brokers in Nigeria and a lot of traders use the platform.

XM was established in 2008 by Martine Rothblatt, David Margolese and Robert Briskman. It is a MetaTrader-only broker offering the standard experience of both MT4 and MT5.

This online broker is a safe broker as it is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction for forex and CFDs trading. The commission and fees at XM Group depends on the type of account used.

The XM Group offers its trading signals hub to live account holders and also offers Tradepedia which provides educational Forex and CFD content.

It also creates daily Forex news videos with market analysis explained in a TV interview-style format.

In XM zero account, average spreads on the EUR/USD stand at 0.1 pips (according to XM Group website data and no commission included). The Standard and Micro account has average spreads of 1.7 pips for the same pairs.

It offers you the following benefits as a trader:

  • Minimum deposit of $100
  • 56 currency pairs
  • Max Leverage 888:1
  • Good for beginners
  • Bonus up to $5,000
  • Quality online education
  • Islamic Account
  • 1000+ trading instruments
  • Spread from 0.6 pips
  • No swap

You can visit www.xm.com/ for more information.


CM Trading

This online forex broker was established in 2012 by Daniel Kibel and it has two platforms which are MT4 and Sirix. MT4 is a downloadable platform that allows you trade automatically while Sirix is web-based and is used for Forex and Social trading.

As a trader, CM Trading offers you the following benefits:

  • Minimum deposit of $200
  • Max Leverage of 200:1
  • Local depositing method
  • Registration bonus for new traders
  • Supports Nigerian Naira deposit
  • Trade CFD on stocks

For more information, visit www.cmtrading.com/


HotForex

This online broker was founded in 2010 by HF Markets (SV), HF Markets SA (PTY), HF Markets (Seychelles) and HF Markets Fintech Services Ltd. If you are using HotForex as a forex trader, the MT5 terminal gives you access to about 21 different timeframes, 80+ technical indicators, superior analysis tools with hedging,  one-click trading and about 100 simultaneous charts.

You can assess your account from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, 24 analytical objects, one-click trading and 30 technical indicators.

HotForex offers you the following benefits:

  • Minimum deposit of $5
  • 100% registration bonus for new trader
  • 30% rescue bonus
  • Supports Nigerian Naira deposit
  • 56 currency pairs
  • 15+ funding methods
  • Good for beginners
  • Spread from 0.0 pips
  • No swap
  • Max Leverage 1000:1
  • Islamic Account
  • 100% supercharged bonus

For more information, you can visit www.hotforex.com/


Pepperstone

This is another great global online broker whose wonderful features earned it a spot on the 31 best forex brokers in Nigeria.  It was founded in 2010 by Owen Kerr and Joe Davenport.

It offers MT4, MT5 and cTrader and all these forex trading platforms comes with free demo account and you have a wide range of depositing options like MasterCard, Visa credit card, Bank wire transfer, PayPal, Neteller, QIWI and Skrill.

You get to choose from variety of trading account using Pepperstone and it offers forex, CFDs and Social Trading. It is regulated and supervised by reputable organizations with a head office based in Australia.

Whether you are a starter or experienced, Pepperstone can accommodate you and it offers traders mobile apps for Android and iOS users.

Pepperstone offers you the following benefits:

  • Minimum deposit of $150
  • Spread from 0.0 pips
  • Islamic Account
  • 66+ currency pairs
  • MT4/MT5/cTrader
  • 1000+ trading instruments
  • Max Leverage 500:1
  • For beginners and advanced traders
  • Allows traders to execute a minimum trade of 0.01 Lot
  • 24 hours multiple language support through email, phone and live chat for 5 days of the week

You can visit www.pepperstone.com/ for more information.


EasyMarkets

This broker started in 2003 by Gadi Hadar and it is very suitable for beginners in forex trading. It allows you to make deal cancellations of a trade within 60 minutes when the moves in the wrong direction.

You can also make guaranteed stop-loss orders with negative balance protection. That is why it is called “Easy”. These three risk management keys make trading easy.

It is the best Forex Broker for beginners in Nigeria and offers a choice of MT4 or their own online trading platform.

It is regulated by CSEC (Cyprus) and ASIC (Australia).

EasyMarkets offers the following benefits:

  • Minimum deposit of $100
  • Deal cancellation
  • Max Leverage of 400:1
  • Islamic Account
  • 65 currency pairs
  • Easy Trade
  • Vanilla options
  • Customer support is available through email, phone, chat channels and web forms for 24 hours in 5 days.

For more information, visit www.easymarkets.com/


FXTM (Forex Time)

This is an online broker that was founded in 2011 by Andrey Valerievich Dashin. This broker allows you as a Nigerian trader to deposit with Nigerian Naira. It offers Nigerian account funding through bank wire transfer or Neteller with a minimum of $100 for a standard forex account.

It is regulated in several jurisdictions even outside EU and it allows you to select a strategy manager. You get to watch as you share a percentage of wins/losses. It is an excellent forex broker for Nigerian traders that are new to CFDs with a higher risk profile.

FXTM offers the following benefits:

  • Minimum deposit of $100
  • Local depositing is available
  • Spread from 0.1 pips
  • Max Leverage of 2000:1
  • 4+ Cryptocurrency CFDs
  • Invest for Auto trading
  • Supports Nigerian Naira deposit
  • 59+ currency pairs
  • Multiple execution methods
  • Customer support is available in 17 languages through live chat, phone and various chat channels for 24 hours in 5 days.

For more information, visit www.forextime.com/


OctaFX

This global forex broker started in 2011 by Georgios D. Pantzis. It offers no swap account and also gives you space to make copy trading.  For those that want to start trading with as low as $5, this is the online broker you can use and it also offers a demo account to help beginners get acquainted with OctaFX and Forex.

It offers MT4, MT5 and also cTrader and also offers mobile apps for Android and iOS users.

OctaFX doesn’t charge commission on CFD instruments and it allows scalping, hedging, guaranteed stop loss and Negative Balance Protection. It is a wonderful forex broker to try and that is why it is on the list of 31 best forex brokers in Nigeria.

You get to enjoy the following benefits of OctaFX:

  • Minimum deposit of $25
  • No Swaps
  • 50% registration bonus
  • Spread from 0.6 pips
  • Max Leverage of 500:1
  • 52 trading instruments
  • Customer support through live chat, email, phone and other chat channels for 24 hours in 5 days.

For more information, visit www.octafx.com/


IQ Option

This is an online broker for both forex and binary with offices based in the UK, Cyprus and the Seychelles and regulated by the FCA and CySEC.

IQ Option was founded in 2010 by Dmitry Zaretsky and its trading platform can be accessed from any device that can connect to the web.

This broker offers you three trading accounts that you can choose from and they are: professional, demo and retail.

It accepts payment methods like MasterCard, Skrill, Neteller and Visa and also some online money transfer services like AstroPay, Qiwi, and WebMoney.

You get to enjoy these benefits using IQ Option

  • Minimum deposit of $10
  • Binary options
  • Digital options
  • Forex options
  • Excellent for beginners
  • 90+ currency pairs (based on major and minor world currencies)
  • 20+ cryptocurrencies
  • Local depositing
  • Max Leverage of 1000:1
  • Customer support through email and local phone numbers in 13 countries that is available 24 hour in 5 days.

For more information, visit www.iqoptions.com/


FBS

This is a forex and CFD broker founded in 2009 by Marrck and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).

This online forex broker offers you the option to trade on forex, stocks, indices, metals and energies. It offers MT4 and MT5 with five trading accounts which are Cent, Micro, Standard, Zero Spread and ECN.

Each of the account has different features and benefits and each has demo trading and no swap accounts.

When you trade with FBS, you get to enjoy:

  • Minimum deposit  of $1
  • Average spread from 0.0 pips
  • Max Leverage of 3000:1
  • Registration bonus for new traders
  • Copy trading services
  • 75+ financial instruments
  • 24/5 customer support  on live chat, email and phone

For more information, visit www.fbs.com/


FP Markets

This online broker was founded in 2005 by Matthew Murphie and it allows you to connect by FP Markets to the market through DMA pricing models and electronic bridges.

It serves over 12,000 clients across the world and offers you access to trade 13,000+ products ranging from Forex, Indices, Commodities, Cryptocurrencies, Equity CFDs, Bitcoin etc.

FP Markets have two types of accounts with STP and ECN execution models available through the MT4 or MT5 platforms and also three IRESS types of account that covers traders who prefer to use this particular service.

It allows scalping, hedging and Negative Balance Protection.

Benefits of FP Markets are:

  • Minimum deposit of $100
  • 60+ currency pairs
  • Max Leverage of 500:1
  • Regulated in Australia
  • 8 funding methods
  • Spread from 0.0 pips
  • 5+ Cryptocurrencies
  • MT4, MT5 and IRESS platforms
  • Customer service available for 24 hours in 5 days.

For more information, visit www.fpmarkets.com/


OANDA

This global forex and CFD broker was co-founded in 1996 by Dr. Michael Stumm and Dr. Richard Olsen. It provides corporate forex solutions and currency conversion to users.

You can choose to trade on Forex, Indices, Metals, Commodities and Bond CFDs. It is the most regulated forex broker and operates across six of the most credible authorities; AISC, CFTD, UK FCA, IFFA, IIROC and MAS.

It focuses on pricing transparency and also the satisfaction of its customers as they provide real-time data from liquidity providers and finds mid-points across instruments.

OANDA offers two accounts: Standard Account and Premium Account and each of these accounts have its uniqueness and wonderful benefits. They also come with a free demo account.

The benefits of OANDA are:

  • Zero Minimum deposit
  • 45 currency pairs
  • MT4 and MT5
  • Easy-to-use web trading platform
  • 24/6 customer support through live chats, email and phone

For more information, visit www.oanda.com/


CMC Markets

This online forex broker was founded in 1989 by Peter Cruddas and it is one of the oldest forex brokers so it is no surprise that it is among the 31 best forex brokers for Nigerian traders.

It is regulated by the UK’s Financial Conduct Authority (FCA) and it offers a range of financial markets and three trading account which are- CFD account, Spread Betting account and corporate account.

CMC Markets benefits are:

  • Zero Minimum deposit
  • 9,000+ trading instruments covering indices, forex, crpytocurrencies, shares and treasures
  • 300 currency pairs
  • Max Leverage 1000:1
  • Accepts credit cards, debit cards and bank transfer funding
  • Customer support through live chat, phone and email for 24 hours in 5 days.

For more information, visit www.cmcmarkets.com/


Alpari

This is the business name of Exinity Limited and it was founded in 1998 by Andrey Dashin. It offers you more than 250 tradable assets across Forex, Indices, Metals, Stocks, cryptocurrencies and future so you can trust them.

They offer four main types of trading account and they are: Standard MT4, Micro MT4, Pro MT4 and ECN MT4/5. It also offers a Stocks Trading account, no swap account and free demo trading account.

The unique features of Alpari that you would enjoy are:

  • Zero Minimum deposit
  • Max Leverage or 1000:1
  • 250+ trading instruments
  • It supports MT4 and MT5
  • Supports Nigerian Naira deposit
  • 48 currency pairs
  • Islamic account
  • 24/5 customer support through live chat, phone and email

For more information visit www.alpari.org/


Tickmill

This is another great online Forex and CFD broker that is regulated by the UK FCA, Cyprus (CySEC) and Seychelles Financial Services Authority (FSA).

It was founded in 2014 by Nikolai Nikolajenko and it offers trading on 80+ markets covering forex, commodities, indices and bonds on the MT4 platform.

Tickmill has three main types of account called the Classic account, Pro account and VIP account and each of these accounts offer different minimum balances, spreads, commissions and maximum leverage.

It also has no-swap account, Islamic account and demo trading.

Tickmill benefits are:

  • Minimum deposit of $100
  • 62 currency pairs
  • Maximum Leverage of 500:1
  • 100+ trading instruments
  • Spread of 1 pip for EUR/USD
  • Customer support through email, phone and live chat for 24 hours in 5 days.

For more information visit www.tickmill.com/


Trading 212

This is a global online forex broker that was founded by Ivan Ashminiv and Borislav Nedialkov in 2006 and it allow you to trade in stocks, forex, indices and commodities.

It is suitable for any trader whether beginner or experienced and it is regulated by reputable organizations like FCA, CySEC, ASIC etc.

Trading 212 offers you a user-friendly custom trading platform that is also available as a browser-based web application and also a mobile app for Android and iOS users.

It offers you educational resources to choose from and also customer support in a wide range of languages.

The benefits you get to enjoying using Trading 212 are:

  • Minimum deposit of $100
  • Max Leverage of 1000:1
  • 3000+ trade instruments
  • 177+ currency pairs
  • Allows hedging
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Customer support through email, phone, live chat and other chat channels for 24 hours in 5 days.

For more information, visit www.trading212.com/


Forex.com

This is a global online forex broker that was founded in 1999 by Muntazar Khan and it offers trading in forex, commodities, cryptocurrencies, equities and indices.

It delivers excellent trading experience for both forex and CFDs traders with competitive market research, competitive pricing, full-feature trading platforms and a well-developed mobile app.

It earned the Best in Class (top 7) awards for numerous categories in 2022 and it is no surprise that it is among the 31 best forex brokers for Nigerian traders.

It is regulated by the UK FCA and IIROC (Canada) with its headquarters in the United States and whether you are a beginner or experienced trader, Forex.com got you covered.

With its regulation in four tier-1 jurisdictions, it is a low-risk forex and CFDs trading platform.

You will be allowed to choose between the standard, commission and direct market accounts that are paired with the MT4 and MT5 trading platforms.

Forex.com benefits are:

  • Minimum deposit of $100
  • 91 currency pairs
  • Max. Leverage of 1000:1
  • Spot Trading
  • 24/5 customer support through live chat, email and phone

For more information visit www.forex.com/


eToro

This is one of the leading social trading platforms for trading major financial markets like stocks, forex and cryptocurrencies.

It was founded by Ronen Assia and David Ring as RetailFX in 2007 and it is regulated by FCA, ASIC and CySEC.

This forex broker offers only one account type with about 1,083 different trade instruments to trade with also 47 currency pairs. The minimum deposit varies from one country to another and it offers you a proprietary trading platform which allows both individual and social trading.

eToro offers traders mobile apps for Android and iOS users to make it easy for you to keep an eye on and take trades.

The benefits of eToro are:

  • Minimum deposit of $200
  • 47 currency pairs
  • Very good for beginners
  • Max Leverage of 20:1
  • Spread from 0.9
  • Islamic account
  • 100+  trade instruments
  • User-friendly custom trading platform
  • Customer support through email, live chat and phone available for 24 hours in 5 days

For more information, visit www.etoro.com/


XTB

This is a European broker founded by Jakub Zablocki in 2002 and it has offices in about 13 different countries across the world. This forex broker is regulated by the UK Financial Conduct Authority (FRN 522157) with its head office situated in Poland.

XTB is a finTech company which combines financial services with innovative technology and it offers you two platforms to choose from and they are: MT4 and xStation 5.

You get to choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available all the days of the week from 3am to 9pm.

The benefits of XTB are:

  • Minimum deposit of $250
  • 48 currency pairs
  • Islamic account
  • 1,500+ trade instruments
  • Max Leverage of 1000:1
  • 24/7 customer support through live chats, email and phone

For more information, visit www.xtb.com/


FXCM

This is also called Forex Capital Markets Limited and it is a Spread Betting CFD and Forex Trading Broker that was founded by Drew Niv in 1999. It regulated by the UK Financial Conduct Authority (FCA) and part of the Leucadia Company.

FXCM allows you as a trader to trade on forex, indices, commodities, forex baskets and crypto on its own proprietary. It has platforms like MT4, NinaTrader and ZuluTrade.

FXCM offers you four main types of account for trading and they are: CFD Trading, Active Trader, Spread Betting and Professional Clients. It also offers a free demo account.

The benefits of using FXCM as your forex broker are:

  • Minimum deposit of $100
  • Max Leverage of 1000:1
  • Trading platforms like MT4, Ninatrader, ZuluTrade
  • Over 100 trade instruments
  • 50+ currency pairs
  • Customer support through live chat, phone, email, and SMS available for 24 hours in 5 days.

For more information, visit www.fxcm.com


Swissquote

This is a global online forex broker that was founded in 1999 by Marc Burki and it offers both Forex and Social Trading with its head office situated in Switzerland.

It is suitable for both beginners and experienced traders as it offers a wide range of trade instruments and currencies to choose from.

Swissquote offers both MT4 and MT5 including mobile apps for Android and iOS users. The minimum and maximum trade requirements depend on the trader and also the instruments.

Swissqoute offers two main accounts and they are the Mini account and the Standard account and it also offers demo account.

The benefits of using Swissquote are:

  • Minimum deposit of $1000
  • Trading desk: MT4 and MT5
  • 100+ trading instruments
  • 150+ currency pairs
  • Allows scalping
  • Allows hedging
  • Max Leverage of 1000:1
  • Customer support available 24 hours in 7 days.

You can visit www.swissquote.com/ for more information


InstaForex

This is an online forex broker that was founded in 2007 by InstaFintech group of companies and it is regulated by CySEC and BVIFSC. It offers you over 110 currency pairs.

You can trade in stocks, forex, cryptocurrencies, commodities and indices and it has two types of account which are: Standard account and Eurica account.

They also offer trading platforms like Web MT4 and accept a minimum deposit of $100.

Customer support is available through phone, telegram, Skype and WhatsApp for 24 hours in 5 days.

For more information, visit www.instaforex.com/


NSBroker

This is one nice forex and CFDs broker that was founded in 2011 by a group of expert traders. This forex broker is regulated by the Malta Financial Services Authority (MFSA).

NSBroker offers two main accounts and they are: Standard and ECN accounts and also a free demo account for beginner traders. It has trade instruments across stocks, currency pairs, cryptocurrencies, energies, commodities, indices and many others.

The benefits of using NSBroker are:

  • Minimum deposit of $100
  • Max Leverage of 100:1
  • Free demo account
  • MT4 and MT5 trading platforms
  • 100+ currency pairs
  • 100+ trade instruments
  • Customer support is available for 24 hours in 5 days

For more information, visit www.nsbroker.com/


Olymp Trade

This is an online forex broker that was founded in 2014 and it has over 25 thousand traders active every day. The broker is regulated by the International Financial Commission (IFC) with its headquarters in St. Vincent and the Grenadines.

It has two main types of account which is the Standard account and the VIP and it also offers demo account to beginner traders. It offers trade in stocks, ETFs, currency pairs, Cryptocurrencies, and commodities.

The benefits of using Olymp Trade are:

  • Minimum deposit of $10
  • Max Leverage of 100:1
  • 100+ currency pairs
  • 500+ trade instruments
  • Customer support for 24 hours in 5 days

For more information visit www.olymptrade.com/


NordFX

This is a global online trading broker that was founded in 2008 with its head office situated in Mauritius. It has won a lot of awards in the industry and it offers both MT4 and MT5 trading platforms.

It offers different trading accounts like Micro, Mini, Standard, Zero Spread Account, STP, Islamic and ECN accounts.

The benefits of NordFX are:

  • Minimum deposit of $10
  • 33 currency pairs
  • Demo account
  • MT4 and MT5 trading platform
  • 100+ trade instruments
  • Allows scalping
  • Allows hedging

For more information, visit www.nordfx.com/


HYCM

This is an online broker that was founded in 1977 by Stavros Lambouris and it offers both Forex and CFDs trading. This broker has its head office in the UK and its unique properties earned it a spot on the list of 31 best forex brokers for Nigerian traders.

It is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Dubai Financial Services Authority (DFSA) and Cayman Islands Monetary Authority (CIMA).

It is one of the oldest forex brokers and has a lot of experience which makes it suitable for both beginner and experienced traders. It is used by over 10,000 traders.

HYCM offers four types of trading account and they are: Mini account, Micro account, Islamic account and Standard account. It also offers a demo account.

The minimum and maximum trading requirements depend on the trader and also the trading instruments.

The benefits of using HYCM are:

  • Minimum deposit of $100
  • Max Leverage of 1000:1
  • 69 currency pairs
  • Allows scalping
  • Allows hedging
  • It supports a wide range of language like English, Chinese, Arabic etc.
  • Customer support is available for 24 hours in 5 days through live chats, email and phone.

For more information, visit www.hycm.com/


Roboforex

This is an online global forex broker that was founded in 2009 by and offers forex and CFDs trading.

This broker accommodates various traders whether you are a beginner or experienced trader. It offers trading platforms like MT4 and MT5 and also cTrader.

Roboforex offers different trading accounts like Micro, Mini, Standard, ECN, STP and Demo accounts.

The benefits of using Roboforex are:

  • Minimum deposit of $10
  • 100+ trade instruments
  • 35 currency pairs
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Max Leverage of 1000:1
  • Customer support through live chat, phone and email for 24 hours in 5 days

For more information, visit www.roboforex.com/


TD Markets

We had to add TD Markets to the list of best forex brokers in Nigeria because of its uniqueness. This is a forex broker company that was founded in 2015 and it provides you as a trader with one or more platforms to buy and sell foreign currencies. Even retail currency traders also use TD Markets to gain access to 24-hour currency market to be able to speculate.

This broker offers MT4 trading platform which makes it easy for traders to use as it has a lot of useful functionalities to make transactions and also analyze the market movements and dynamics.

The benefits of using TD Markets are:

  • Minimum deposit of $50
  • Max Leverage of 500:1
  • 100+ currency pairs
  • 500+ trade instruments
  • Customer service available for 24 hours in 5 days

For more information visit www.tdmarkets.com/


Axi

This is a global online broker which was founded in 2007 with its head office situated in Australia. It offers forex, CFDs and Social Trading.

Whether you are a beginner or experienced trader, you can use this broker as it offers MT4 trading platforms plus mobile apps for Android and iOS users.

It is regulated by FCA, ASIC and DFSA with over 10,000 traders using it.

Axi offers trading accounts like Mini, Micro, Standard, ECN, STP and also demo account.

The benefits of using Axi are:

  • Zero minimum deposit
  • 66 currency pairs
  • 100+ trading instruments
  • Max Leverage of 1000:1
  • Low trading fees
  • 24 hours account activation time
  • Allows scalping
  • Allows hedging
  • Offers STP

For more information, visit www.axi.com/


FXPro

This is an online broker that was founded in 2006 and it offers forex, share dealing, futures, spot metals, energies trading and spot indices. It has its head office in the UK.

It offers MT4 and MT5 trading platforms and also cTrader platform.

FXPro provides you as a trader with access to its top-tier liquidity and advanced trade execution with over 250 trade instruments at your disposal.

The minimum and maximum trade requirements differ depending on you as the trader and the instrument.

The benefits of FXPro are:

  • Minimum deposit of $100
  • Regulated by CySEC
  • Low trading fees
  • 24 hours account activation time
  • Allows scalping
  • Allows hedging
  • 250+ trade instruments
  • 70+ currency pairs
  • Offers Negative Balance Protection
  • 24 hours customer support with a wide range of languages like English, French, German, Hungarian, Arabic etc.

You can visit www.fxpro.com for more information.


Frequently Asked Questions

Final Note

Best Forex Brokers In Nigeria – There is always a high risk associated with forex trading and there is also high profit in it and if you are a forex trader in Nigeria, you will need to take your time to choose the best forex broker that suits your trading needs.

As a new trader, go for brokers that offer you demo account to help you to get acquainted with trading and we have given you the best forex trading brokers in Nigeria.

Take your time and go through the list so that you can pick the best option for you and start making money also. Remember there is always risk involved so go with the best broker.

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