05/07/ · Best Forex Brokers Nigeria List. Below is a quick list of the top 10 forex brokers in Nigeria. Be sure to keep on reading as we go through them in more detail further down this guide. eToro – Overall Best Forex Broker in Nigeria with FREE Copy Trading Service! blogger.com – Best Forex Brokers for Beginners with $20 Minimum Deposit EasyMarkets Is the Best Forex Broker for Beginners in Nigeria and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders: Enhanced risk management tools as standard; Fixed spreads on all forex pairings; An easy to use forex trading platform Risk Management Tools Offered by EasyMarketsEstimated Reading Time: 11 mins 22/07/ · Pepperstone is the best forex broker in Nigeria, not just for their platforms but also their fees. There are two forex accounts available. The first is the standard account which has no commissions but slightly higher spreads, which is how the forex broker makes its blogger.comted Reading Time: 9 mins
Best international online brokers of for citizens in Nigeria - Fee comparison included
As with most countries in Africa, forex trading has seen a significant increase in popularity across Nigeria over the past few years. Especially with the new pandemic, many young Nigerians have turned to forex and the finacial markets for some passive income, or even as a full time job.
This is also because anyone can trade from the comfort of their home. Although forex trading is not illegal in Nigeria, it is considered a grey area with a significant amount of risk involved as there is lack of strict oversight from the government. If you want to learn more about forex trading and how it worksclick here to visit our Beginners Guide to Forex. Online forex trading is relatively new in Nigeria and therefore there are no specific rules best forex online.brokers in nigeris requirements regulating this activity.
However, the Association of Online Forex Trading has been formed that works closely with the Central Bank of Nigeria CBN to monitor and regulate this market, best forex online.brokers in nigeris. The Central Bank of Nigeria CBN is the regulatory body for all financial services and monetary policies in Nigeria, best forex online.brokers in nigeris.
It is by far the biggest institution for forex exchange in the whole of Nigeria. Alongsite with the SEC of Nigeriathey provide a legal framework for forex trading and other securities and derivatives exchange. They are empowered to make laws and regulations that control other brokers and entities wishing to engage in foreign exchange. Some of these laws and policies include:. Nevertheless, it is not required to get authorization from these two bodies in order to offer financial services and forex trading to the residences of Nigeria, due to the fact that there is no license to offer yet.
However, it is advised to choose a regulated broker with a Tier 1 license like CysecFCAFSCA or ASIC to make sure your funds are protected. In this article, we have compared the Best Nigerian Naira Forex Brokers and Trading Platforms which either has a local presencebest forex online.brokers in nigeris, offers trading in the local currency Naira or is CBN Regulated.
The CBN undertook to facilitate a formal framework for the co-ordination of regulatory and supervisory activities in the Nigerian financial sector by establishing the Financial Services Coordinating Committee FSCC. Nigerian forex traders should make sure that depositing in Nigerian NAIRA currency is allowed by their chosen Nigerian forex trading platform which will assist them with future exchange rate fees between USD and NAIRA.
Forex trading in Nigeria has become much easier to get involved in during the last few years, which has resulted in strong economic growth and rising disposable incomes for many Nigerians.
The important requirements traders need to get started are the same as in any other country. Traders simply need to have a computer or mobile device, a stable internet connection, trading capital, and an account with a trusted Forex broker. ForexTime FXTM. This allows traders to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency, best forex online.brokers in nigeris. ForexTime offers social trading copy trading which means that a trader can:.
ForexTime is ideal for Nigerian traders new to CFDs with a higher risk profile, best forex online.brokers in nigeris. FXTM is the most obvious choice for Nigerian traders as it also has a physical presence in the country and special offers for their local clients.
FXTM is regulated in several jurisdictions, including the European Union Cyprusbest forex online.brokers in nigeris, the United Kingdomand South Africa. FXTM offers Naira trading accounts which are specifically designed for Nigerian clients to make deposits to their trading account directly via wire transfer, debit card or a POS terminal.
FXTM also has official representative offices in Lagos and Abujawhere the broker runs a forex training centre as well. Alpari offers the latest MT5 software coupled with solid features without a freezing or downtime. Alpari also offer instant order execution with NanoStandard accountsand market execution with their ECN accounts and comes with multiple timeframes, order types and many technical indicators for technical analysis. There is a news feed built in to keep track of any news during trading and a PAMM account for investors are also on offer with an app where traders can keep track.
A traders account can be accessed from anywhere using a from a PC to an iPhone. HotForex is an award-winning forex and CFD brokersoundly regulated in several jurisdictions — the UKthe EUthe United Arab Emiratesand South Africa. HotForex also has an office in Lagosthe largest Nigerian cityand accepts local payments with bank wire, major debit and credit cards and e-wallets like Neteller and Skrill.
Other Nationally Regulated Forex Brokers who do except traders from Nigeria, even though the local currency may not be on offer includes:. All three FX trading platforms come with a free demo account which will allow Nigerian traders to test out the forex broker and platform for 30 days. Platform enhancements available for Pepperstone include:.
Pepperstone is the most awarded provider when it comes to customer service, including investment trends which survey, actual forex traders, to gauge their performance. Pepperstone customer support ranges from global call centres, live chat and e-mail. IC Markets. IC Markets is based in Australia and offers traders the lowest brokerage fees including:. Commissions Offered by IC Markets. Forex traders in Nigeria can receive some of the lowest commissions from IC Markets including:.
EasyMarkets Is the Best Forex Broker for Beginners in Best forex online.brokers in nigeris and is regulated by CSEC Cyprus and ASIC Australia and offers beginner forex traders:. EasyMarkets offers traders three key risk management tools which are ideal to those new to currency trading:. Note: Only certain currency pairings offer dealCancellation and the feature can only be activated at certain times and there is a small fee when this is activated.
EasyMarkets make all stop-loss ordered guaranteed stops meaning the maximum losses set are guaranteed to be locked in or the FX broker will cover the difference. EasyMarkets guarantees traders that they will not lose more than their balance and if this does occur, they will cover the difference.
EasyMarkets has a trading platform which is perfect for Beginners and offer the choice of MT4 or their own online trading platform. The EasyMarkets features such as dealCancellation are only available through their online forex platform which also includes a mobile trading app for iPhone, Android and iPad devices, best forex online.brokers in nigeris. CMC Markets.
CMC Markets Has the Lowest Minimum Deposit and is one of the largest best forex online.brokers in nigeris brokers for stock market and currency trading in Nigeria. CMC Markets offer:. CMC Markets specialise in trading forex with over forex pairs but this is not the only CFDs financial markets traders can trade.
Best forex online.brokers in nigeris, Ethereum, best forex online.brokers in nigeris, Litecoin and to Tron. Leverage ranges based on the crypto chosen with more well know cryptocurrencies like bitcoin offering more leverage compared to niche currencies pairs. CMC offers the choice of MT4 forex trading platform or the next generation platform. AvaTrade is an online broker founded in offering Forex trading, CFDs trading, Spread Betting trading, and Social Trading. com is an online broker founded in and offers Forex trading, Indices trading, Commodities trading, Equities trading, and Cryptocurrencies trading.
Hugosway Offers an ECN Trading Account and is an ECN forex broker offering ECN trading that:. Trading with an ECN forex broker like HugosWay sounds promising the forex broker is not regulated with any well-known regulator.
Plus offers the best range of Cryptocurrency trading with instruments including Bitcoin, Ethereum, Litecoin, NEO, Ripple XRP, IOTA, Stellar, EOS, Cardano, Best forex online.brokers in nigeris and Monero.
OctaFX is one of the very few forex brokers which offers Nigerian traders Metatrader and cTrader. NordFX is an online broker founded in offering Forex trading and is a global broker.
FXPro is an online broker founded in and offers Forex trading, Share Dealing trading, Spot Indices trading, Futures trading, and Spot Metals and Spot Energies trading. Admiral Markets is an online broker founded in and offers Forex and CFDs trading. Axitrader is an online broker founded in and offers Forex trading, CFDs trading, and Social Trading. Swissquote is an online broker founded in and offers Forex and Social Trading.
OANDA is the Most Regulated Forex Broker and best forex online.brokers in nigeris across six of the most credible authorities including:. OANDA is focused on pricing transparency and customer satisfaction and they offer real-time data from liquidity best forex online.brokers in nigeris and finds mid-points across instruments.
Live chat, best forex online.brokers in nigeris and phone support is available. The best forex trading platforms for traders in Nigeria are MetaTrader4 MT4MetaTrader5 MT5and cTrader and these trading terminals have proven to be reliable, easy to use, best forex online.brokers in nigeris, and equipped with everything a trader needs to confidently trade. The Nigerian economy and population are steadily growing and the middle-class population in Nigeria is increasing which in turn means a growing consumer base.
Many profitable businesses and financial opportunities exist in Nigeriaincluding Forex. All brokers listed on our website are regulated by best forex online.brokers in nigeris least one financial regulator and have never been reported as a scam. We analyze more than data points across 8 key focus areas. Our reviews are a combination of data research and working along side with the brokers, best forex online.brokers in nigeris.
Read more about our methodology and how we do our tests and reviews here. Best Forex Brokers To Trade With in Nigeria for Table of Contents.
Is forex trading legal in Nigeria? Online Forex Trading Online forex trading is relatively new in Nigeria and therefore there are no specific rules or requirements regulating this activity. Featured Forex Brokers.
We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.
Open Account. Forex Regulation in Nigeria — The Central Bank of Nigeria. Some of these laws and policies include: The Exchange Control Act of The Central Bank of Nigeria Act Banks and Other Financial Institutions Act, The Money Laundering Prohibition Act Nevertheless, it is not required to get authorization from these two bodies in order to offer financial services and forex trading to the residences of Nigeria, due to the fact that there is no license to offer yet.
Best Forex Brokers In Best forex online.brokers in nigeris Markets. com — Best Nigeria Forex Broker for FP Markets — Best execution and lowest spreads, Multiple Licenses CMTrading — Well Rounded Offering for types of traders XM — Best Forex Broker with multiple awards across the globe IQOption — Multiple Deposit and Withdrawal Options. Broker Comparison List In Nigeria.
Best Nigerian Naira Forex Brokers and Trading Platforms In this article, best forex online.brokers in nigeris, we have compared the Best Nigerian Naira Forex Brokers and Trading Platforms which either has a local presenceoffers trading in the local currency Naira or is CBN Regulated.
How to Start Forex Trading in Nigeria The important requirements traders need to get started are the same as in any other country. Who are the best forex brokers in Nigeria? Alpari Alpari offers the latest MT5 software coupled with solid features without a freezing or downtime.
Other Nationally Regulated Forex Brokers who do except traders from Nigeria, even though the local currency may not be on offer includes: Pepperstone Pepperstone boasts three top forex trading platforms: MetaTrader 4 — Most Popular for Forex Trading MetaTrader 5 — Most Popular CFDs Trading Platform cTrader — Best Automated Trading Platform All three FX trading platforms come with a free demo account which will allow Nigerian traders to test out the forex broker and platform for 30 days.
Platform enhancements available for Pepperstone include: MetaTrader 4 smart trader tools, best forex online.brokers in nigeris, cTrader Automate Autochartist and API trading Pepperstone is the most awarded provider when it comes to customer service, including investment trends which survey, best forex online.brokers in nigeris, actual forex traders, to gauge their performance.
Perfect Platform for Beginners EasyMarkets has a trading platform which is perfect for Beginners and offer the choice of MT4 or their own online trading platform. CMC Markets CMC Markets Has the Lowest Minimum Deposit and is one of the largest online brokers for stock market and currency trading in Nigeria.
7 BEST FOREX BROKERS IN NIGERIA
, time: 7:18Best Forex Brokers To Trade With In Nigeria for
05/07/ · Best Forex Brokers Nigeria List. Below is a quick list of the top 10 forex brokers in Nigeria. Be sure to keep on reading as we go through them in more detail further down this guide. eToro – Overall Best Forex Broker in Nigeria with FREE Copy Trading Service! blogger.com – Best Forex Brokers for Beginners with $20 Minimum Deposit Forex brokers in Nigeria. Here you can find a list of the best global Forex brokers online accepting traders in Nigeria for Forex trading 31/01/ · Best international online brokers of for citizens in Nigeria; Broker Info Score Best in #1: Saxo Bank: Danish investment bank: Best forex broker #2: eToro: Global social trading broker: Best broker for cryptos #3: XTB: Global CFD and forex broker: Best CFD broker #4: Trading Global CFD and forex broker: #5: Fusion Markets: Australian forex broker: Best discount forex brokerAccount opening score: stars
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