Nigeria Forex Regulation for 2024
We found 11 online brokers that are appropriate for Trading Nigerian Forex Brokers.
Best Nigeria Forex Regulation Guide
Analysis by Andrew Blumer, Updated Last updated - April 17, 2024
Nigeria Forex Regulation
Nigerian Forex trading involves currencies trading in currency pairs with the aim of profiting from the constant changing world currency prices.
As you conduct this activity in Nigeria, you will probably use Nairas as the base. But if you are trading overseas, you will need to convert your Nairas to foreign currencies.
The exchange rate will depend on the global marketplace and the Forex market.
When it comes to the Forex trading in Nigeria, you will expect such dynamics and vitality in the marketplace.
The level of volatility is the key to comprehend your risks and opportunities there. The movement of the currencies can alter from time to time depending on various factors which are dynamic.
If you are an individual investor, you will want to cover all the basics and equip yourself with enough knowledge before proceeding.
What you really need to consider before investing in the Forex Markets in Nigeria
It is just like in other countries. You need to choose a trustworthy and reliable Forex broker in Nigeria if you are looking for the most appropriate place to invest in the currency market.
The good news is that Forex trading in Nigerian countries is legal. But there’s still risk if you are dealing with unregulated brokerages.
Therefore, you need to be especially careful when browsing around trading options online.
Start by checking if the broker is regulated by the official regulatory entities. If your brokerage does not come with reputable regulatory status, you better skip to brokerages who can prove their regulated status.
It will only work well if you focus your search to the eligible and regulated brokerages.
The Regulated Forex Brokerages in Nigeria
As mentioned, you can rest assured to conduct your Forex trading activity if you are dealing with the correct party.
In this particular case, the Central Bank of Nigeria is by far the most renowned provider of the Forex exchange business in the country.
The Central Bank of Nigeria has the right and power to make the laws and regulations. It is also their responsibility to regulate the brokerages in the Nigerian Forex market.
The Central Bank of Nigeria has released a vast amount of detailed guidelines concerning Forex markets. The central bank also issues the license for the commercial banks in Nigeria.
Most of these commercial banks also deal with the foreign exchange markets.
In the case of banking, both residents and non-residents can open commercial banks accounts in Nigeria. It is also important to realize that only residents of Nigeria will be able to use the domiciliary accounts.
Are you eligible to conduct Forex trading in Nigeria?
To conduct the Forex trading activity, you will need to be an authorized buyer in the country.
The authorized buyers can be the official entities, or the end-users approved by the central bank to conduct the foreign exchange in the bank. Meanwhile, the central bank has also appointed some authorized dealers to sell the Forex exchange to end-users.
The legality of Forex in Nigeria
The legality of the Forex in Nigeria has also been a challenging topic since it is still relatively new as the instrument of making money. If you have any questions regarding its legality, then you are good. It will help you prevent bad situations later.
The Forex market in Nigeria comes with high volatility. The condition of the market is dependent upon the oil in the country as oil production is the major earner of Forex.
Because it is highly volatile, the Central Bank is working with the government to regulate the sector with the most appropriate measures.
Nigerian foreign exchange regulations and laws have caysed the Central Bank to issue policies to regulate the Forex transactions in the country. The Central Bank can regulate transactions which traders execute even in foreign currencies.
Nigerian Commercial banks hold the right to conduct and monitor all foreign exchange transactions. The Central Bank of Nigeria also allows only authorized dealers to conduct the transactions.
In a nutshell, the Central Bank allows the banks and other authorized bodies to conduct Forex trading.
Whether you are traveling, living, or just passing through Nigeria, you have the right to conduct online Forex transactions, however Forex is relatively new in Nigeria.
When it comes to rules, there is no specific rules that you should worry about, however you should always deal with regulated over unregulated brokers.
Therefore, you could check candidates to see if they are regulated by the Association of Online Forex Trading Agent in Nigeria.
The Association has been working with the Central Bank of Nigeria and other regulatory agencies to come up with the most appropriate regulations applied to the country.
Local Forex traders need to be compliant to the extent of the Nigerian laws and confirm legally in all activities.
If you are unsure, you could contact brokerages and the financial regulatory body in Nigeria to check a brokers status.
Just like in any other country, it is illegal to use an investors money unless the brokerages are authorized to do so, so a trustworthy business should not mind providing you some proof of credibility if you ask for it.
We have conducted extensive research and analysis on over multiple data points on Nigeria Forex Regulation to present you with a comprehensive guide that can help you find the most suitable Nigeria Forex Regulation. Below we shortlist what we think are the best Nigerian Forex Brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Nigeria Forex Regulation.
Reputable Nigeria Forex Regulation Checklist
Selecting a reliable and reputable online Nigerian Forex Brokers trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Nigerian Forex Brokers more confidently.
Selecting the right online Nigerian Forex Brokers trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
- Ensure your chosen Nigerian Forex Brokers broker has a solid track record of at least two years in the industry.
- Verify that the Nigerian Forex Brokers broker has a customer support team of at least 15 members responsive to queries and concerns.
- Check if the Nigerian Forex Brokers broker operates under the regulatory framework of a jurisdiction that can hold it accountable for any misconduct or resolve disputes fairly and impartially.
- Ensure that the Nigerian Forex Brokers broker can process deposits and withdrawals within two to three days, which is crucial when you need to access your funds quickly.
- Look for Nigerian Forex Brokers brokers with an international presence in multiple countries, offering its clients local seminars and training programs.
- Ensure the Nigerian Forex Brokers broker can hire staff from diverse locations worldwide who can communicate fluently in your local language.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Compare Key Features of Nigerian Forex Brokers in Our Brokerage Comparison Table
When choosing a broker for Nigerian Forex Brokers trading, it's essential to compare the different options available to you. Our Nigerian Forex Brokers brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
- Minimum deposit requirement for opening an account with each Nigerian Forex Brokers broker.
- The funding methods available for Nigerian Forex Brokers with each broker.
- The types of instruments you can trade with each Nigerian Forex Brokers broker, such as forex, stocks, commodities, and indices.
- The trading platforms each Nigerian Forex Brokers broker provides, including their features, ease of use, and compatibility with your devices.
- The spread type (if applicable) for each Nigerian Forex Brokers broker affects the cost of trading.
- The level of customer support each Nigerian Forex Brokers broker offers, including their availability, responsiveness, and quality of service.
- Whether each Nigerian Forex Brokers broker offers Micro, Standard, VIP, or Islamic accounts to suit your trading style and preferences.
By comparing these essential features, you can choose a Nigerian Forex Brokers broker that best suits your needs and preferences for Nigerian Forex Brokers. Our Nigerian Forex Brokers broker comparison table simplifies the process, allowing you to make a more informed decision.
Top 15 Nigerian Forex Brokers of 2024 compared
Here are the top Nigerian Forex Brokers.
Compare Nigerian Forex Brokers brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Nigerian Forex Brokers broker, it's crucial to compare several factors to choose the right one for your Nigerian Forex Brokers needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Nigerian Forex Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Nigerian Forex Brokers that accept Nigerian Forex Brokers clients.
| Broker |
IC Markets
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Roboforex
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XTB
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XM
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Pepperstone
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AvaTrade
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FP Markets
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NordFX
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EasyMarkets
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SpreadEx
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FXPro
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| Rating | |||||||||||
| Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | 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 | 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), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) |
| Min Deposit | 200 | 10 | No minimum deposit | 5 | 200 | 100 | 100 | 1 | 100 | 1 | 100 |
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| Used By | 180,000+ | 1,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 10,000+ | 142,500+ | 10,000+ | 1,866,000+ |
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| Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps |
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| Learn More |
Sign
Up with icmarkets |
Sign
Up with roboforex |
Sign
Up with xtb |
Sign
Up with xm |
Sign
Up with pepperstone |
Sign
Up with avatrade |
Sign
Up with fpmarkets |
Sign
Up with nordfx |
Sign
Up with easymarkets |
Sign
Up with spreadex |
Sign
Up with fxpro |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76-85% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. | 74-89 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider |
| Demo |
IC Markets Demo |
Roboforex Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
NordFX Demo |
easyMarkets Demo |
SpreadEx Demo |
FxPro Demo |
| Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA, EU, RU, SY, KP, CU | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | US, CA, IR |
All Nigerian Forex Brokers in more detail
You can compare Nigerian Forex 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 Nigerian Forex Brokers for 2024 article further below. You can see it now by clicking here
We have listed top Nigerian Forex Brokers below.
Nigeria Forex Regulation Table of Contents
- Nigeria Forex Regulation Explained
- 6 Factors to Consider when Choosing Nigeria Forex Regulation
- Are Your Nigeria Forex Regulation Trusted And Established?
- Are The Nigeria Forex Regulation World Leading?
- What are the Nigeria Forex Regulation Commissions and Fees?
- What are the Nigeria Forex Regulation Funding and Withdrawl Methods?
- Find Nigeria Forex Regulation with Round-the-clock support?
- Make sure the Nigeria Forex Regulation Offer Comprehensive Trader resources?
- Why Nigeria Forex Regulation needs to be regulated?
- Nigeria Forex Regulation FAQ
- What are the best Nigerian Forex Brokers brokers?
- What is the best Nigerian Forex B broker?
- Related Nigeria Forex Regulation Reviews
- Related Nigeria Forex Regulation Alternatives
- Related Nigeria Forex Regulation Comparisons
Nigeria Forex Regulation Explained
Trading volatile financial markets with Nigeria Forex Regulation can be challenging, even for experienced traders. In addition to the online educational resources available, traders should consider the platform offered by Nigeria Forex Regulation to ensure a successful trading experience.
Selecting Nigeria Forex Regulation at the forefront of innovation and considered an industry leader is crucial. Doing so will ensure you are equipped with the tools and features to navigate volatile Nigeria Forex Regulation markets effectively.
Reliability is key to gaining access to financial markets. Look for Nigeria Forex Regulation that you can rely on to provide a stable and secure trading environment, allowing you to execute trades with Nigeria Forex Regulation confidently.
6 Factors to Consider when Choosing Nigeria Forex Regulation
Follow these five rules for selecting Nigeria Forex Regulation that are right for you:
Are Your Nigeria Forex Regulation Trusted And Established?
Search for a reputable Nigeria Forex Regulation with a extensive proven track record for Nigeria Forex Regulation, enabling you to focus solely on implementing your trading strategy and navigating the markets with confidence. The top rated Nigeria Forex Regulation broker is IC Markets. Established in 2007, and in operation for 12 years IC Markets have a head office in Australia.
IC Markets is regulated. This means IC Markets are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
Another top rated broker is Roboforex.
Roboforex was established 2009, and in operation for 9 years Roboforex have a head office in Belize.
Roboforex is regulated. This means Roboforex are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
| Broker |
IC Markets
|
Roboforex
|
XTB
|
XM
|
Pepperstone
|
AvaTrade
|
FP Markets
|
NordFX
|
|---|---|---|---|---|---|---|---|---|
| Year Established | 2007 | 2009 | 2002 | 2009 | 2010 | 2006 | 2005 | 2008 |
| Head Office | Australia | Belize | Poland | Cyprus | Australia | Ireland | Australia | Mauritius |
| Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | 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 | 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), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 |
| Used By | 180,000+ | 1,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 10,000+ |
| Negative balance protection | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Guaranteed Stop Loss | No | No | No | No | No | No | No | |
| Learn More | Visit IC Markets | Visit Roboforex | Visit XTB | Visit XM | Visit Pepperstone | Visit AvaTrade | Visit FP Markets | Visit NordFX |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76-85% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. | 74-89 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits |
Are The Nigeria Forex Regulation World Leading?
Opt for Nigeria Forex Regulation that set themselves apart as an industry leader by actively embracing innovation. Take IC Markets as an example, which is renowned for Segregates clients funds and boasts an extensive array of 2250 tradable instruments. Moreover, IC Markets caters to the needs of its clients with both an online trading platform and a mobile application, making it incredibly convenient to access the markets from anywhere, at any time.
In addition, the IC Markets platform enables access to a variety of financial markets worldwide. IC Markets is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for Nigeria Forex Regulation is Roboforex. Roboforex Segregates clients funds and offers over 100 instruments.
| Broker |
IC Markets
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Roboforex
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XTB
|
XM
|
Pepperstone
|
AvaTrade
|
FP Markets
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NordFX
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|---|---|---|---|---|---|---|---|---|
| Instruments Available | 2250 | 100 | 5600 | 1000 | 1200 | 1250 | 290 | 50 |
| Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps |
| Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA, EU, RU, SY, KP, CU |
| Forex pairs offered | 61 | 35 | 57 | 55 | 70 | 55 | 70 | |
| Forex pairs offered | 61 | 35 | 57 | 55 | 70 | 55 | 70 | |
| Major forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Exotic forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Cryptocurrencies (availability subject to regulation) | Yes | No | No | No | Yes | Yes | Yes | Yes |
| Commodities Offered | 20 | 21 | 21 | 15 | 16 | 17 | 18 | 0 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Energies | Yes | No | Yes | Yes | Yes | Yes | Yes | No |
| Agricultural | Yes | No | Yes | No | Yes | Yes | Yes | No |
| Stocks Offered | 2100 | 0 | 1696 | 160 | 1100 | 1000 | 10000 | |
| UK Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| US Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| German Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Japanese Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
What are the Nigeria Forex Regulation Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated Nigeria Forex Regulation broker IC Markets offers competitive offers for Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. IC Markets minimum deposit is 200.
Another top rated Nigeria Forex Regulation broker Roboforex offers Forex, CFDs. Roboforex minimum deposit is 10. Please note that any cryptocurrency availability with any broker is subject to regulation.
| Broker |
IC Markets
|
Roboforex
|
XTB
|
XM
|
Pepperstone
|
AvaTrade
|
FP Markets
|
NordFX
|
|---|---|---|---|---|---|---|---|---|
| Min Deposit | 200 | 10 | 0 | 5 | 200 | 100 | 100 | 1 |
| Withdrawl Fees | No | Yes | varies | No | No | No | No | No |
| Inactivity Fees | No | No | Yes | Yes | No | No | No | No |
| Deposit Fees | Varies | No | No | No | No | No | Yes | No |
| CFD Commission Fees | Yes | No | Yes | No | Yes | No | Yes | Yes |
What are the Nigeria Forex Regulation Funding and Withdrawal Methods?
Efficient and hassle-free funding and withdrawal facilities can significantly improve your overall trading experience when dealing with Nigeria Forex Regulation. It streamlines the trading process and helps you focus on making informed decisions rather than worrying about deposit and withdrawal matters with Nigeria Forex Regulation.
| Broker |
IC Markets
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Roboforex
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XTB
|
XM
|
Pepperstone
|
AvaTrade
|
FP Markets
|
NordFX
|
|---|---|---|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Paypal | Yes | No | Yes | No | Yes | Yes | Yes | No |
| Skrill | Yes | No | Yes | No | Yes | No | Yes | No |
| Payoneer | No | Yes | Yes | No | Yes | Yes | No | No |
| Neteller | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Find Nigeria Forex Regulation with Round-the-clock support?
Effective customer service is an essential factor to consider when dealing with Nigeria Forex Regulation.
Nigeria Forex Regulation customer service entails various support services to aid customers in making the most cost-effective and appropriate use of the brokers' services.
The customer support options offered by Nigeria Forex Regulation can include phone answering services, live chat support, and email customer service support.
IC Markets support a wide range of languages including English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Roboforex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian
IC Markets and Roboforex offer support where clients are able to call or contact the helpdesk via email or a chat service.
| Broker |
IC Markets
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Roboforex
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XTB
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XM
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Pepperstone
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AvaTrade
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FP Markets
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NordFX
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| Languages | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish | English, Spanish, Portuguese, Thai, Russian, Italian, French, German, Polish, Chinese, Vietnamese, and Arabic | Arabic, Simplified Chinese, Traditional Chinese, Dutch, English, Finnish, French, German, Hungarian, Italian, Indonesian, Japanese, Mongolian, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Malay, Korean and Turkish | English, Arabic, Indonesian, Italian, Spanish, French, Russian, Chinese, Japanese, German, Portuguese, Thai, French, Malay, Greek, Vietnamese, Romanian, Turkish, Slovenian, Dutch, Polish, Finnish, Norwegian, Swedish, Serbian, Lithuanian, Hungarian, Galician, Estonian, Danish, Czech, Croatian, Bulgarian, Basque | Indian, Chinese, Arabic, Brazilian, English, Spanish, Russian |
| Learn More | Visit IC Markets | Visit Roboforex | Visit XTB | Visit XM | Visit Pepperstone | Visit AvaTrade | Visit FP Markets | Visit NordFX |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76-85% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. | 74-89 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits |
Make sure the Nigeria Forex Regulation Offer Comprehensive Trader resources?
It's important to ensure your Nigeria Forex Regulation provide complimentary resources such as analysis, education, and risk management tools. IC Markets and Roboforex collaborate with top analysts to bring the most up-to-date news and insights to traders.
Sound risk and money management are vital to financial market navigation with Nigeria Forex Regulation. However, selecting the best broker to access the markets is a critical step that traders should not overlook as they embark on trading live financial markets with Nigeria Forex Regulation.
Why Nigeria Forex Regulation needs to be regulated?
Regulated Nigeria Forex Regulation lowers your risk of loss of deposited trading funds.
Lowering your risk is one of the benefits of working with a properly regulated Nigeria Forex Regulation.
Consumers are protected by Nigeria Forex Regulation regulation, critical to preventing inadequate services and potential financial harm.
Regulation of Nigeria Forex Regulation is necessary to prevent fraud. The Nigeria Forex Regulation working capital and client-funded accounts must be kept separate to avoid conducting business with client funds. Any fraudulent behaviour with Nigeria Forex Regulation is monitored by financial regulators in the jurisdictions brokers are allowed to operate.
Nigeria Forex Regulation List
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, AndroidCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account XM Swap-Free account (XM Ultra Low Account) VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account Pro Account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5Customer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Web Trader, TradingView, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Learn more
Losses can exceed deposits
Losses can exceed deposits