Top Nigeria Brokers for 2021

We found 11 online brokers that are appropriate for Trading Nigeria.

Trading Platforms in Nigeria Guide

Updated December 01, 2021

Nigeria Financial Markets

Nigeria has been a financial center in Africa for over a hundred years.

Nigeria also known as Naija, or The Federal Republic of Nigeria has a number of established reputable financial markets.

The main securities markets in Nigeria include the The Nigeria Stock Exchange (NSE) which deals in officially listed stocks and shares,government issues, traded options, stock index options, currency options, foreign exchange, futures, metals, gold, silver, agricultural and other commodities.

Restructuring and deregulation has transformed the financial sector in Nigeria over the last 30 years with important changes in the The Nigeria Stock Exchange (NSE), insurance, banking, shipping, and commodity markets.

The Central Bank of Nigeria is responsible for issuing monetary policy in Nigeria.

Nigeria Brokers

When you start out looking for brokers in Nigeria, there are plenty of things that you need to consider beforehand. Understanding these factors will help you in deciding which the best Nigeria brokers are. This article will list some of these important factors that one has to consider when looking for the right broker in Nigeria.

The Nigerian Broker Experience

Experience is very important when choosing the best brokers you can find in Nigeria. If you have only recently begun trading in the foreign exchange market in Nigeria, it is crucial that you seek out experienced traders who can give you guidance on how to learn how the financial markets work. Experienced traders will also give you good tips on how to go about your Forex trading business. There are lots of brokers in Nigeria but only those who have more experience will be able to provide better guidance to novice traders. The amount of experience of a Nigeria broker does not solely depend on the number of trades done, but also based on his or her track record.

The Broker’s Reputation

Reputation of the broker is also one of the factors that you have to consider when looking for the best Nigeria brokers. You have to make sure that the brokerage firm has a good reputation in the trading industry. This is because if people have had bad experiences with the firm, then they will be negative towards it and even mention it on their blogs and other forms of media.

Nigeria Trading Platforms

The best Nigeria broker trading platforms should allow you to trade very accurately, which depends on the market conditions. Your Forex trading strategies should also be working for you. If you are not satisfied with the execution speeds and the software that they are using, then you should go and look for other brokers. There are a lot of good companies out there so you should not have any problems finding one that will fit your needs.

The Broker’s Regulator

If you are seriously considering trading in the stock market, you are definitely going to need a stockbroker. Reputed stock brokers in Nigeria are licensed for their crucial role by the SEC (or Securities and Exchange Commission), which also happens to regulate their procedure. It I usually expected of them to function within the scope of the market procedures and guidelines show in the relevant regulations and laws. In this case, violations of the market, including misuses of clients’ accounts or transactions are most often than not, adequately sanctioned.

The Nigerian Financial Market

Nigeria's Lagos, Nigeria is currently experiencing a large-scale financial crisis, which has resulted in a significant decline in the FX Swap market, commercial paper market, and over the counter financial markets. This article examines the impact of this current financial crisis on the functioning of the Nigeria financial market and on the potential of the economy to recover. The analysis probed the impact of the Coronavirus outbreak on the overall performance and efficiency of the Nigerian financial market, capital market, and global exchange market. The research utilized time-series data from the month prior to the first confirmed case of covid19 in Nigeria and employed multiple regression and analysis to evaluate the relationship between the outbreak and the subsequent economic indicators.

The results of the analysis are suggestive of a widespread decline in the price level of certain types of financial instruments in the Nigeria financial market. This decline in the price level of financial instruments such as government bonds, corporate bonds, and money market securities was observed across all sectors of the financial market and affected nearly every sector to varying degrees. The decline in the prices of the financial market instruments was most evident in the money market or bond sectors of the market but was also noted in the emerging stock market sectors. The analysis also indicates a marked deterioration in the credit quality of the Nigerian government debt securities.

Nigerias Slowing Economic Growth

The decline in the quality of the Nigerian government debt securities has been attributed to the slowing economic growth in Nigeria, which is reducing the amount of liquidity that banks have available to them to service their debt. As a result, the banks are finding it increasingly difficult to secure refinancing loans and are having difficulties disbursing payments to their long-term customers. The decreased cash flow in the money markets is affecting the ability of the banks to service their obligations. The effects of the deteriorating financial market infrastructure are also spilling over to the rest of the commercial paper market in Nigeria. Lenders are now becoming more cautious about lending money to businesses and organizations in Nigeria because of the poor state of the country's economy.

Active Financial Markets In Nigeria

About 300 to 450 million Naira is traded every day in Nigeria. Anyone with an internet connection can learn how to trade and profit from Forex. Foreign exchange trading in Nigeria is the future of trading. Anyone can learn how to trade and make money in Nigeria, without specialized knowledge. Forex trading in Nigeria is not gambling, it is a pragmatic business.

Nigerian FX Trading Education

There are many websites that cater to the need of people who want to invest and learn how to trade. They provide demo accounts, for both new and experienced traders. One such website is 'FX Trading School'. This website provides detailed information on all aspects of Forex trading in Nigeria, and several other countries like Singapore, Japan, China, and the United States of America. Many people who wish to start trading Forex, have difficulty finding reliable and dependable sources in Nigeria, or even outside the country. 'FX Trading School' provides a list of reliable and dependable Islamic account providers, with nominal fees.

The Involvement Of Central Banks

Many Nigeria brokers are now also using the services of central banks like the Bank of England, and the US Federal Reserve. These central banks control the supply, availability and flow of currency, and any trader who wishes to begin trading, must use these banks' platforms. The platforms of these central banks are available to anyone who wishes to register with them. They allow anyone, whether a beginner or a professional, to open an account, open a debit card account, and even transfer funds between their accounts.

Stock Brokers In Nigeria

Nigeria's Stock market capitalization was 56,569 million dollars in 2020. Nigeria's market capitalisation has fluctuated significantly in recent years, although it has tended to rise from 1998 to 2020, reaching 56,569 million US dollars in 2020.

Nigerian Exchange Group

It is a prominent integrated market infrastructure unit that is located in Africa. Nigerian Exchange Group, also referred to as NGX Group, caters to the greatest economy in Africa and is reinforcing the competitivity of economies in Africa to attain prosperity internationally.

NGX Group offers a broad range of facilities which include licensing, trading and listing security, ancillary technology, marketing data solutions, real estate, regulatory and many more via its fully held subsidiaries. Nigerian Exchange, which is a prominent trading and listing venue in Africa, i.e., the independent regulation firm NGX Regulation Ltd.; and the real estate firm NGX Real Estate Ltd.

The Exchange offers direct access to the firms looking to take advantage of the fiscal markets to back their business expansions. In a similar manner, NGX offers its reservoir of regional, domestic, and global investors with a large range of legalized securities in order to reach their investment goals.

In March this year, the former Nigerian Stock Exchange was de-mutualized from a member owned non-profit entity into a stockholder owned, profit oriented unit, i.e., Nigerian Exchange Group.

The Exchange was formerly known as the Nigerian Stock Exchange. It goes back to the 15th of September in the year 1960 when the Lagos Stock Exchange was first established.

The NGX Group is under the regulation of the SEC (or securities and exchange commission.

Forex Markets In Nigeria

Although bitcoin has gained significant acceptability around the world, forex trading remains more popular in Nigeria.

Forex trading is rapidly growing in popularity even in Nigeria. Across the globe $6.6 trillion USD in daily volume is being traded. This is quite a large amount compared to other financial sector sectors. However, advances in internet technology, high web coverage and improved competition among brokerage firms have made Forex trading easier and made it more accessible to everyone. These days, it is not unusual to find traders from Nigeria as well as from abroad investing in Forex.

To facilitate Forex trade in Nigeria traders looking to execute their Forex trades online need to open an account with a reputable Forex broker firm. There are many online financial institutions in Nigeria that have made it easy to access their respective Forex trading platforms and facilitate trading between individuals and institutions. Most of these trading platforms allow individual traders to open up one or several accounts on offer through which they can place their trades on the fly. A trader can place an order by selecting a platform that best suits his/her trading needs. With an easily accessible interface, a Nigerian trader can quickly look up all information on a particular currency pair and place a trade even if away from the office.

Nigerian Forex Trading Platforms

Most of the top Nigeria brokers now offer online Forex trading platforms for customers and traders to use. Their Forex online trading platforms to enable them to respond faster to customer queries. They also provide traders with access to a wide range of information like product prices, dealer reviews, and customer support so that they can make intelligent decisions and transactions. Online Forex accounts are operated by non-stop professional traders who have been through rigorous training on Forex trading platforms and are extremely experienced.

CFD Trading In Nigeria

As a leading Forex broker in Africa, CFD Trading in Nigeria is gaining huge popularity across the African continent. Even though more people have come to learn about Forex trading through online sources, many still prefer to deal with brokers in person. Traders in many countries like US and UK opt for Forex brokers in person to ensure that they receive adequate advice on the trends and positions of the market. While trading the foreign markets with Forex Trading Platforms, in Nigeria too, this is possible only when the exchange rate of the local currency is favourable. If the rate of the local currency falls, traders in Nigeria need not lose out on their investment, but if the rate rises, then it would benefit them immensely.

This reason alone pushes traders towards hiring professional FX brokers who are based in Nigeria. Though there are many well established and experienced brokers based in the US and UK, who offer services from their base in Nigeria, there are other brokers from Africa too, who offer services at low cost and at favorable terms. Trading platforms offered by them are reliable too, especially the ones that operate through the use of the Interbank Market. One such trading platform, which has earned the respect of many traders in the region, is known as XTB.

The service provider offers its registered members exclusive features that make a currency trade easy and convenient. XTB being operated from its base in South Africa, is a 24-hour trading hub, where it processes trades in CFDs, CFD trading pairs, cash/counterfeit currencies, Euro, Latin American Currencies and Asian Securities, including Singapore and Hong Kong Securities. Members of XTB get free account registration, which is absolutely free and involves no obligations. The members also have access to demo account, which allows them to practice trading with actual money before engaging in real trading.

Which Broker Is Best In Nigeria

Nigeria happens to be rich in oil reserves. It is also often referred to as the door that leads to the African continent. Unfortunately, it is also possible to run into various financial scams when the obvious signs are ignored. Since both opportunities and scams are likely to occur in foreign exchange trading, or Forex trading, as a Nigerian trader, it is best if you look for a trustworthy broker so you can protect your well-earned money from potential scammers, money laundering individuals, and all other sorts of illegal brokers.

What To Look Out For When Choosing A Nigerian Broker

The first thing you need to take care of is that you have to look for a CBN (or Central Bank of Nigeria) governed broker. Most Nigerians trade with internationally financially regulated brokers. For example brokers regulated by teh FCA or other major European financial regulators. This is all to be sure that your broker is constantly being supervised and monitored by a bigger authority. After that, you will have to confirm whether the platform being offered to you by the broker is user-friendly and comes with the features you need. Following that, you must determine whether the commissions the firm charged are reasonable enough for your budget. After that, you have to find out the types of accounts the broker provides. Finally, you will be testing their client relations as well as the other additional service they provide.

Nigerian Demo Accounts

If you are novice trader, it is best that you look for a broker offering a demo account to give you an idea of how things work, offers low spread live trading accounts that are commission free, is regulated, and also provides educational resources for your convenience and knowledge.

Nigerian Brokers Reviews

Checking the reviews of a broker is also important in terms of the fact that it will give you an idea about said broker’s history, i.e., how they treat their customers, their charges, platforms offered, support, and execution. A reputed broker will have gathered mostly positive reviews from real customers. Noticing how a broker responds to unfavourable reviews is also helpful as it is a helpful indication of the type of support they tend to offer.

Nigerian Brokers Licenses And Certifications

It is in your best interest never to deposit in a broker platform that is not certified or licensed. Before you begin trading, check and confirm if there are any trading charges involved. All reputable, legal, and safe broker platforms will be honest and upfront about their trading fees, without any hidden charges whatsoever. Also make sure that you are allowed flexibility with which to withdraw your revenue with ease.

eToro, Avatrade, XTB, IC Markets, RoboForex happen to be among the most reputed brokers ever to be found in Nigeria.

Is Forex Trading Banned In Nigeria?

Similar to numerous other parts of the globe, Forex and stock trading in Nigeria has attracted a lot of the populace towards it. This is most likely due to how lucrative of a career path it is. Aside from that, the pandemic has also gone to prove that no one can make it with just one income source. It is also ill-advised to throw your hard-earned cash into any form of investment. What we desire is a solid, pandemic-proof opportunity. This ultimately explains why so many of the Nigerian youth have been seriously considering the Forex trade sector. It is, nevertheless, the most liquid market in the entire world. Anyone can trade whenever they want from the privacy and comfort of their homes. That is not to say, however, that anyone who decides to trade is guaranteed to benefit from it.

Forex and stock trading is legal in Nigeria, granted the broker or trader operates in line with the guidelines and regulations that monitor the industry. It may come as a surprise for traders and brokers that contrary to many other areas of the world like the USA, foreign exchange in Nigeria is not strictly regulated. This may be based on the fact that it is still a rather new phenomenon that is gradually becoming more popular among citizens.

Foreign exchange trading is controlled by the Central Bank of Nigeria in Nigeria, and brokers have to meet some requirements to carry out trade on behalf of their customers. Furthermore, revenue from trading activities is liable to tax in the nation, and thus, should be reported to steer clear of finding yourself in trouble with the law.

Trading Platforms in Nigeria

We've collected thousands of datapoints and written a guide to help you find the best Nigeria Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best nigeria brokers below.

Trading in Nigeria

When trading in Nigeria you will need to know what your options with your Nigeria trading broker are.

We list below the trading account types available in Nigeria. If you are looking for brokers in Nigeria that are suitable for trading in the Forex, CFD's, Indices and ETFs, Cryptocurrencies (availability subject to regulation) or commodity markets; this Nigeria broker guide will explain the things you should check and be aware of before you invest.

Forex Trading in Nigeria

Forex trading is growing in popularity in Nigeria. The volume of Forex traded in Nigeria has increased year on year over the last five years.

Across the world $5.1 trillion USD in volume is traded every single day. This is a huge amount in comparison with other financial market sectors.

Advances in online technology, higher internet coverage in Nigeria and increased competition among brokerages have made Forex trading more accessible and reduced the costs of trading generally.

Is Forex Trading Legal in Nigeria?

Their is a misconception that trading Forex on the financial market in Nigeria is considered unsafe. This is not the case, Forex trading in Nigeria is very active.

Trading in Forex is allowed in Nigeria as to conduct business currency must be exchanged. Forex is an integral part of import and export and investing internationally. The important thing is that when trading Forex you pick a safe and reputable broker that is regulated. Nigeria Forex trading is not banned, their are many international online brokers offering favourable trading conditions.

Do Forex Traders Pay Tax in Nigeria?

Once a traders profits reach a level where the income on the Forex trading can be taxed in Nigeria the trader should make sure all taxes owed for a financial year are paid. Nigeria taxes should be filed even if there were losses on the year. If Trading losses cannot be claimed against personal income taxes. A trader should file them with the proper government agency in Nigeria. You should seek advice with a Nigeria tax professional to ensure they are abiding by all proper tax laws in Nigeria. In Nigeria Islamic accounts do not have additional restrictions on trades.

Cryptocurrencies in Nigeria

Cryptocurrency markets in Nigeria are relatively new and their availability are subject to local financial regulation. Because Cryptocurrency works on decentralised assets in Nigeria things like interest rate changes and political instability do not affect cryptocurrencies as much as the currency markets in Nigeria for example.

Due to a large young population in Nigeria with growing income levels and wide spread adaptation of online technology cryptocurrency trading volume is increasing greatly in Nigeria. $6 billion USD worth of Bitcoin is traded daily around the world.

Commodity Trading in Nigeria

In Nigeria commodity trading includes the trade in precious metals, energies and agricultural commodities.

Some commodities like metals are seeing exponential growth in Nigeria since 2002.

Fast growing countries like China and India have been growing rapidly over the last 3 decades. This has meant that countries like China and India have a vast requirement for many basic commodities and raw materials for their populations. Crops to feed people and metal to build infrastructure for example. This means countries like Nigeria are able to take advantage of this demand.

We list brokers that allow you to trade commodities in Nigeria here.

Islamic Accounts in Nigeria

Nigeria brokers support Islamic accounts or swap-free accounts. Nigeria Islamic accounts have no rollover interest on overnight positions to comply the Muslim faith. Traders of Islamic faith are forbidden to pay interest. Brokers in Nigeria offer accounts that are suitable for Islamic traders. These Nigeria brokers complies with Sharia law.

Benefits of Trading in Nigeria

Nigeria economy and population is growing. The middle class population in Nigeria is increasing which means a growing consumer base. Many business and financial opportunities exist in Nigeria. Nigeria has a young population educated in technology and the internet.

Concerns of Trading in Nigeria

Nigeria digitisation of financial trading has made it easier to defraud unsuspecting investors across the internet. Make sure the broker you trade with is regulated and passes the checklist in this Nigeria guide. Educate yourself as much as possible open a demo account if necessary be you open a live trading account.

Learn about leverage when trading. Nigeria Brokers offering high leverage trades in Nigeria can mean high profit margins. But this goes both was it can also mean huge losses. There are things like negative balance protection and stop loss accounts which some Nigeria brokers offer as a level of protection. you can learn more about further below on this guide.

Reputable Trading Platforms in Nigeria Checklist

There are a number of important factors to consider when picking an online Nigeria trading brokerage.

It is not essential that your brokerage is local but they must have regulation from a Tier 1 reputable country. In fact the brokers international regulation could be more reputable than your local region.

When deciding to trade and find a suitable Nigeria broker if you wish your broker to be 100% local check they are governed and regulated by the below.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Nigeria Brokers.

We compare these features to make it easier for you to make a more informed choice.

Top 15 Nigeria Brokers of 2021 compared

Here are the top Nigeria Brokers (NG).

Compare Nigeria Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are nigeria brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more nigeria brokers that accept nigeria clients

Broker XTB AvaTrade Roboforex Pepperstone XM FP Markets FXPrimus EasyMarkets Trading212 SpreadEx Admiral
Rating
locality XTB accept Nigeria clients AvaTrade accept Nigeria clients Roboforex accept Nigeria clients Pepperstone accept Nigeria clients XM accept Nigeria clients FP Markets accept Nigeria clients FXPrimus accept Nigeria clients easyMarkets accept Nigeria clients Trading 212 accept Nigeria clients SpreadEx accept Nigeria clients Admiral Markets accept Nigeria clients
Regulation Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)
Min Deposit No minimum deposit 100 1 200 5 100 100 100 1 1 200
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 250,000+ 300,000+ 10,000+ 89,000+ 3,500,000+ 10,000+ 10,000+ 142,500+ 15,000,000+ 10,000+ 10,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
Accounts
  • Pro account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Standard account
  • Zero spread account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Demo account
  • Standard account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms MT4, Mirror Trader, Web Trader, Tablet & Mobile apps Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
xtb
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avatrade
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roboforex
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pepperstone
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xm
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fpmarkets
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fxprimus
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easymarkets
Sign Up with
trading212
Sign Up with
spreadex
Sign Up with
admiralmarkets
Risk Warning 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 71% of retail investor accounts lose money when trading CFDs with this provider Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Your capital is at risk Losses can exceed deposits Losses can exceed deposits Your capital is at risk CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits Losses can exceed deposits
Demo XTB
Demo
AvaTrade
Demo
Roboforex
Demo
Pepperstone
Demo
XM
Demo
FP Markets
Demo
FXPrimus
Demo
easyMarkets
Demo
Trading 212
Demo
SpreadEx
Demo
Admiral Markets
Demo
Excluded Countries US, IN, PK, BD, NG , ID, BE, AU BE, BR, KP, NZ, TR, US, CA, SG US, JP BR, KR, IR, IQ, SY, JP, US US, CA, IL, KR, IR, MM, CU, SD, SY US, JP, NZ AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. US US, CA US, TR US, CA, JP, SG, MY, JM, IR, TR


All Nigeria brokers in more detail

You can compare Nigeria Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Nigeria Brokers for 2021 article further below. You can see it now by clicking here

We have listed top Nigeria brokers below.

Trading Platforms in Nigeria List

XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 250000+ traders. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa
AvaTrade
(4/5)
Min deposit : 100
AvaTrade was established in 2006 and is used by over 300000+ traders. 71% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading . Cryptocurrency availability with AvaTrade is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049)
Roboforex
(4/5)
Min deposit : 1
Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
Pepperstone
(4/5)
Min deposit : 200
Pepperstone was established in 2010 and is used by over 89000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
XM
(4/5)
Min deposit : 5
XM was established in 2009 and is used by over 3500000+ traders. Your capital is at risk XM offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
FXPrimus
(4/5)
Min deposit : 100
FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)
EasyMarkets
(4/5)
Min deposit : 100
easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
Trading212
(3/5)
Min deposit : 1
Trading 212 was established in 2006 and is used by over 15000000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading 212 offers Stocks, Forex, Commodities, Indices.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
SpreadEx
(4/5)
Min deposit : 1
SpreadEx was established in 1999 and is used by over 10000+ traders. Losses can exceed deposits SpreadEx offers Forex, CFDs, and spread betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA)
Admiral
(3/5)
Min deposit : 200
Admiral Markets was established in 2001 and is used by over 10000+ traders. Losses can exceed deposits Admiral Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)

Learn more Learn more about XTB.
74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.