Thousands of Nigerians have joined the forex trading craze, making it the hottest new trend in Africa. There are many Forex Brokers in Nigeria, but the ones mentioned below are the best and most reliable.
The top 10 forex brokers in Nigeria are listed below to help you make an intelligent decision.
FXTM, or ForexTime, provides a range of account types with features such as no commissions, quick order execution, tight spreads, and $100 minimum deposits.
ForexTime is a multi-award-winning broker that has earned a slew of accolades over the years. It has a variety of advertisements, educational and analysis resources, and financial instruments such as metals, indices, currencies, forex, and CFDs.
With minimum deposits as low as 5 USD and spreads as low as 0.1 pips, HotForex provides a favorable trading climate. When dealing with this broker, there are no secret fees, and it offers over 1000 financial products.
HotForex places its clients’ funds at the top of its priority list. The broker’s Negative Balance Protection policy guarantees that traders do not suffer costs that exceed their initial investment.
HotForex has a range of promotions, including a 100% Supercharged Bonus and Instant Rebates, a 100% Credit Bonus, and a 30% Rescue Bonus.
It’s easy to see why HotForex is regarded as one of the best brokers in the industry today, with over 2 million active accounts and 35 prestigious awards.
There are several account forms available at HotForex. Trading with HotForex provides traders with low spreads as low as 0.1 pips and high leverage ratios, to name a few advantages. Deposits as low as $5 USD are accepted.
This multi-award-winning firm is known for its transparency, favorable market conditions, and outstanding customer service. The broker specializes in a variety of markets, including forex, cryptocurrency, precious metals, commodities, and more.
Plus500 forex traders have access to a total of 2 000 instruments, including forex currency pairs, cryptocurrencies, indices, stocks, ETFs, and commodities.
It’s easy to see why this broker is preferred by more than 200 thousand traders around the world, with minimum deposit fees as low as 100 USD, low fees, and a quick order execution pace.
Plus500 has around 35 million open positions, with a total traded value of more than $1310 billion. A number of financial institutions have approved and supervised Plus500.
4. Alpari International
The FSC has approved and supervised Alpari International since its inception in 1998. Over 250 trading instruments, including forex currency pairs and common CFDs, are available to traders. Over 2 million traders use Alpari International’s services around the world.
Under the Standard and ECN options, there are four different account forms. Initial minimum deposits are as low as 100 USD, with low to no commission fees, tight spreads, and swap-free options.
Markets.com provides traders with a low initial deposit of $100, a large range of stable funding options, spreads starting at 0.6 pips, and four separate sites, including the famous MetaTrader 4 and 5.
Traders have access to a diverse range of financial instruments, including currency pairs, indices, ETFs, commodities, cryptocurrencies, and bonds, in a variety of markets.
A number of financial authorities, including CySEC, FSCA, and ASIC, control this broker. As a result, Markets.com provides a stable trading atmosphere, and traders can rest assured that their funds are held in separate accounts.
6. BlackBull Markets
BlackBull Markets offers a diverse range of financial instruments across a number of markets. Commodities, CFDs, forex, precious metals, energy, and others are among them. BlackBull Markets is widely regarded as a credible and trustworthy broker.
The 2018 Deloitte Fast 50, 2018 APAC Technology Fast 500, and the 2019 Deloitte Fast 50 have all recognized this award-winning New Zealand broker. It’s on the Financial Services Provider Registry (FSPR).
Low spreads, a 200 USD minimum deposit, high leverage, a No Dealing Desk model, and common trading platforms are just some of the advantages offered by the broker.
7. IG Markets
Over 12,000 foreign shares, more than 80 currency pairs, common global indices, 26 main commodities with no fixed expiries, and cryptocurrencies like Bitcoin, ether, and ripple are all available via IG Markets.
IG Markets is preferred by over 180 thousand traders all over the world. This broker has over 45 years of trading experience and has received several awards. Low fees and costs, high leverage, reliable platforms, and lightning-fast order execution are all available.
Since its inception in 2007, eToro has proven to be a trustworthy and industry-leading platform.
A number of financial institutions all over the world have approved and supervised eToro. ASIC, CySEC, and the FCA are a few examples. Traders of all types would profit from choosing eToro as their broker since it offers over 2 000 financial instruments.
Deposits as low as $50 USD are accepted. There are no management fees paid by this broker since it works in an open and transparent manner. Ultra-fast order execution is accomplished by using the broker’s efficient platforms.
9. CM Trading
The Financial Sector Conduct Authority (FSCA) of South Africa has approved and controlled CM Trading. It is well-known for being one of South Africa’s largest forex brokers.
It has low spreads starting at 0.9 pips, swap-free Islamic account options, and a variety of resources to help traders understand the world of forex and make the best trading decisions with the least amount of risk.
Exness offers a variety of account forms to suit the needs of all traders, including Standard, Raw Spread, Pro, Zero, and ECN accounts.
Each of these accounts has its own set of features that appeal to the needs of traders with varying levels of experience and financial resources.
Depending on the account form, traders will get a maximum leverage of 1:2000, spreads as low as 0.3 pips, low minimum deposits as low as 1 USD, and no commission fees.
Other advantages include the firm’s eagerness to assist traders by providing a variety of training and educational resources, as well as safe and stable financing options and common trading platforms.
Exness is managed and controlled by strict financial authorities such as CySEC in Cyprus, the FSA in the Seychelles, and the FCA in the United Kingdom.