Nigerian traders who are seeking the best brokers who offer their services in Nairaland, Nigeria, need not look any further than the list provided below.
Alpari has been in operation since and it is strictly regulated by the FSC and the FSA in facilitating the trade of brokers from around the world. Founded in December , the company has over 20 years experience in delivering impressive Forex brokerage. Alpari offers some of the best trading conditions in the industry which includes tight and competitive spreads, low commissions, adequate leverage, a range of markets, and powerful trading platforms.
XM has more than 2.
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In addition to welcoming Nigerian traders, XM offers traders with tight and competitive variable spreads, ultra-low commissions, the use of MetaTrader 4, a variety of markets, and more. The platform is well-known to be a trusted and reliable forex broker site. The greatest advantage of this platform is that Avatrade is a fixed spread broker platform, i.
This platform charges an absolutely zero processing fee on all deposits and withdrawals. Also, the platform has a local support number, which can be used to reach out to the customer support executives of Avatrade for any immediate help and assistance.
ECN Brokers in Nigeria
The live chat support option for Avatrade is available only during their company business hours. Although the platform features a fixed spread broker, their spread can be higher for minor and exotic currency pairs. This forex broker platform was founded and established in the year of The platform supports many different account types. Their minimum deposit value can be as low as zero for the Nano Account. On top of that, the platform also supports trade in cryptocurrencies.
For example, you can trade with this platform with cryptocurrencies like Bitcoin and Ethereum. Additionally note, this platform accepts a wide variety of deposit and withdrawal options. You can easily and conveniently reach out to this team at any time whenever you need help. Micro lot trading facilities along with other trading options are available.
It is the most popular forex broker in the country and started trading in It has served above countries and gives different trading options on commodities, including Bitcoin. You can open a trading account with a deposit of US Dollars. IQ Option is the best for beginners thanks to its simple and easy to understand interface. The broker offers protection against negative balance and has safe bank accounts.
Along with this all, a range of assets makes it a great choice for beginners in forex trade. It is favorited in Nigeria by high-volume traders, scalpers, and robots. IC Markets offers an average spread of 0. This broker offers ECN accounts as well. ECN brokers use electronic communications networks ECNs to give clients direct access to other participants in currency markets because their platform is electronically connected to the network of international banks or liquidity providers.
List of Forex Trading Companies in Nigeria in 2021.
To start trading forex, you need to have an internet connection and be above 18 years old, then you need to pick a forex broker, make registration, and make document verification. Then, open a demo account and start to practice. Please read trading books and watch trading lessons on youtube. Each of these platforms has its own sets of benefits and advantages.
Based on your preference and requirement, you can pick any of them and start trading right away! These platforms have one particular thing in common, i. To be a trusted forex broker platform, it has to be regulated by authoritative agencies, i. These regulations also ensure that your invested money is safeguarded in their trading accounts. Never attempt to deposit in such a forex broker platform that is not licensed or certified. Before you start trading, please make sure to check and validate if there are any associated trading fees.
With Growing Interest in Forex Trading, Here are 5 Best Forex Brokers in Nairaland
Please make sure to choose such a platform that offers lower spread and funding fees. If the spread is lower, it will be better as you will have to pay less for broking. The final metric of a good and reputed forex broker platform is the customer support availability.
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If you face any struggle and difficulty, the platform should give you an option to contact their customer support for a prompt resolution. Make sure you have the flexibility to withdraw your profits. Reveal six best forex brokers in Nigeria for How to find the best forex brokers in Nigeria? Author Recent Posts. Trader since At FXTM Nigeria, our goal is to provide Nigerian traders with world-class trading software, education and customer service.
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I am actually based in the US, but a friend told me to open an account from Nigeria to avoid paying tax. Hope to get some insightful responses.