FXTM also offers a wide range of educational material to its clients, including trading webinars. Visit Hotforex. Hotforex is our recommended low cost broker for Nigeria. We highly recommend Hotforex for beginner traders looking for a well regulated low cost broker in Nigeria. Hotforex was established in the year Also, they offer extremely competitive spread of 0. Further, Hotforex offers trading on various platforms that can be accessed from Android, iPhone and desktop.
You can trade on the MetaTrader 4 or Metatrader 5 platforms, both of which are the most widely used trading platforms in the world. Hotforex also offers local bank withdraw and deposit methods for Nigerian traders, and there are many wallet options as well. Plus, Hotforex have ongoing deposit bonus promotion available for traders in Nigeria. Visit OctaFX. They have 3 account types i. But they have competitive spread on their available trading assets, especially for traders who are looking to trade major currency pairs, and 3 main cryptos Bitcoin, Ethereum and Litecoin.
Their support is also very responsive in handing issues. They also have WhatsApp text support available.
The most successful Forex traders in Nigeria you can learn from
Visit XM Forex. XM Forex is another broker that we definitely recommend to new Nigerian traders. XM broker offers 55 forex currencies, and more than CFD instruments on its platform. Another plus is their no re-quotes policy.
Nigerian Forex & CFD Trading Brokers
XM broker also offers free research through its own in-house team of analysts. Its interface is quite user-friendly and can be accessed on desktop, mobile, as well as the web. Visit Exness. Exness is 5 in our recommended forex broker list for Nigerian traders. They offer market Execution but it is very fast , very competitive spread of as low as 0.
- jam pembukaan market forex.
- free tick charts forex.
- fisher bible forex strategy;
- 10 Best Forex Brokers in Nigeria for Online Trading 2021!
This is quite wide compared to other brokers. Further, with Exness you can trade on the advanced MetaTrader 5 platform that even has a news feed. In addition to this, Exness offers tight spreads withtheir three major account types. Minimum spread for FX starts from 0. Exness does not charge any commissions with two of its account types. The broker offers up to date financial news and technical analysis charts to its users so that they can invest better.
Further, customer support is available 24X5 in eight languages and 24X7 in three languages. Another key feature is that withdrawals via some methods is executed instantly upon request. Visit Avatrade. Avatrade is a fixed spread European Forex broker. They offer 0.
Visit Alpari. Investors will also like their very low minimum deposit, even with their very low fees ECN account. Alpari was founded in the year , and it is the second best forex broker in Nigeria as per our updated review.
The broker offers its services on both the MetaTrader 4 as well as the MetaTrader 5 platforms. Alpari has six different account types, with a minimum deposit as low as zero with the Nano Account. With Alpari, you can also trade cryptocurrencies such as Ethereum and Bitcoin, but it is limited to their ECN accounts only.
The broker does not charge any extra commission other than the spread.
Forex Brokers in Nigeria: The Top 10
This makes them a really interesting option. Another key feature is that the support team of Alpari is available 24X5 in Nigeria, so you can reach them anytime if you need their help. Visit IC Markets. If you are a professional trader that traders in high volume, then Raw spread account at IC Markets is a good option. Based on everything we have test, we then give a rating out of There are various regulations that are in place for foreign exchange brokers.
These regulations ensure that traders do not lose money due to illicit activities such as fraud and manipulation by the broker.
These regulations also safeguards the money that the traders deposit with the brokers, in case of any event. The key objective of regulatory authorities is that the brokers provide transparent services and comply with the laws.
Best Forex Brokers in Nigeria 2021
Thus, if you are looking for a Forex broker, you should check whether the broker is registered and licensed or not. The best brokers are usually the ones who have a clean track record and offer transparent services to the investors. Another critical aspect to monitor is the reputation and reviews of the broker.
There are numerous broker review websites including us available online that can provide you with editorial as well as user reviews regarding the brokers. In addition to this, another way is to ask the existing traders about the brokers. By comparing the reviews of brokers and analyzing their reputation, you will be able to make an informed decision as to which broker to choose. Another aspect of the broker that you need to consider carefully is the trading platforms that a broker is offering.
Usually, the best brokers in the business will give you multi-platform access i. There are some brokers which only allow you to trade only through a web-based interface. It is always better to choose a broker which has a mobile app interface as well, so that you can even trade remotely from your phone. All the brokers that we have included in our list will allow you to trade on the most popular trading platforms i.
Broker fee is another crucial factor to be kept in mind. It is really important that you carefully consider the various fees a broker might charge you before signing up. It is your decision whether to pick a local or international financial agent. Taking into account the international offering, always keep in mind that the amount of insurance coverage fluctuates depending on the country your forex broker comes from.
Day Trading is a popular speculation strategy. It relates to the practice when a trader is into a lot of deals throughout a single banking day. This causes an increased demand, which alters the entire market, so traders have a moment to generate additional profit. Whilst this path is risky, we suggest studying more about Professional Client Status, which is proper for day trading traders. Reliable forex broker is vital if you want to make trading comfortable, engaging and what is more important—safe.
ForexN advises adopting the following key points for selecting a trustworthy online forex broker:. Studying reviews about brokers is the first step in choosing a company that even a novice trader can handle. The live experience of real customers will help to understand how honest the company is and how favorable trading conditions are.