It is amongst the biggest Forex brokers in the world and has been in operation for some time now. The headquarters of FRTM is in Cyprus and can be located in the luxury five storey building in this country. ForexTime allows its customers to use, both mobile and online trading, and fully loaded with one of the coolest trading tools you can find any other places in the Forex market. AVATrade also support both FX online and mobile trading which has a top notch support that is available 24 hours. XTrade — This Forex Broker is top notch in most facets of trading. XTrade is among the best Forex trading platforms out there and support both mobile and internet based trading.
Find out about this award-winning safe trading environment by yourself. FXPrimus pride itself as a leader in Forex Trading and excellence.
Securities.io
EToro — This is among the biggest name in the Forex marketplace and has been around for many years. EToro brokers can be seen as a social trading and a multi asset brokerage company that has registered offices in Cyprus, Israel and Great Britain. With these two outstanding features, even traders who are not well versed in the art and science of trading forex stand a chance to invest and become profitable from forex trading.
This makes it one of the most trustworthy and legit forex brokers because, like we pointed out earlier, brokers who are regulated either in the UK or Australia make for fairest brokers the world over. HotForex also happens to have a local office and telephone support in Nigeria, which translates to faster resolutions for any issues that you might be having. HotForex also happens to be one of the brokers with very minimal deposit requirements. Although we do not recommend professional trading with such a low amount, it does give new traders an opportunity to try the HotForex trading platform without risking too much money.
Read the full HotForex Review Here. Trading Fees : ForexTime has an average fee of 2. And just like HotForex, ForexTime has local representatives and office in the country.
The broker even offers a Naira account that is specifically personalized for forex traders in Nigeria. What we even love more about ForexTime in Nigeria is the fact that they are readily available to offer training to beginner forex traders. ForexTime offers several account types tailored to traders of different levels. Support and responsiveness factor highly in our criteria for selecting the best forex brokers in Nigeria, and ForexTime scores highly in this. The fact that they have a local office in the country means that they will go out of their way to make your trading experience as seamless as possible.
You can fund your account using e-wallet options such as Neteller and Skrill. Cryptocurrency and local deposit methods are also available. Click here to see a list of all the deposit and withdrawal options available at FXTM. XM Forex has frequently featured in our list of top forex brokers in Nigeria, and for good reasons too. To begin with, this broker has the easiest account opening process of all forex brokers we have so far reviewed. Recall that we highly recommend trading with brokers regulated in either the UK or Australia. Due to the high requirements of brokers regulated in these jurisdictions, their strive to uphold fair trade practices for all traders.
Additionally, XM Forex offers a bevy of trading bonuses for its clients. Although there is a lot of debate as to whether the incentives offered by forex brokers is a good thing, the stand at With the proper knowledge and risk management tactics, it is very easy for a new trader to profit massively by leveraging the trading bonuses offered by XM Forex. The spreads at XM Forex are among the most competitive in the industry. Grand Capital is one of the brokers with an increasingly heavy presence in Nigeria. Traders can always pop into any one of the Grand Capital offices for assistance with account opening, trading education , deposits and withdrawals, and pretty much any other issues that you might be facing in your forex trading journey.
GrandCapital offers 6 account types. For beginners in forex trading the Standard and Micro account offer the best trading conditions.
LiteForex was founded in , and has relentlessy offered excellent services to clients from all over the world. The LiteForex group of companies has been recognized for the placement of financial instruments on the forex international market as well as the futures markets. They provide brokerage services as their basic activity.
Their main priority is to offer safe execution of transactions on the financial markets and to assure high standard of service offered by brokers to retail traders.
How we picked the best Forex Brokers in Nigeria
LiteForex professionals assessed the situation on the web trading market and reported that the level of access for each client to financial markets was quite high. Such an analysis led to an imaginative solution of creating special kinds of accounts while making the forex market accessible to thousands of traders. Cryptocurrencies are another new market gaining popularity in Nigeria. As international transfers can be slow in the country, many Nigerians working for overseas countries are choosing to receive their income in Bitcoin.
Like forex, keeping your money in cryptocurrencies also allows you to avoid the Naira inflation rate.
If you already own cryptocurrencies or have an interest in them, you can put our knowledge to good use with the best forex brokers in Nigeria. Besides forex, most of these brokers offer cryptocurrency contracts for difference CFDs. With crypto CFDs, you can speculate on whether you expect the value of a cryptocurrency to increase or decrease, without owning the cryptocurrency itself.
7 Best Alternatives to CBN Regulated Forex Brokers in Nigeria
Currently, there is no central authority regulating forex brokers in Nigeria. This oversight from the CBN puts Nigerian forex traders in a risky position. Anyone can open up shop claiming to be a legitimate forex broker, gain clients, and then behave irresponsibly and corruptly. Do note that even if you choose one of our best brokers in Nigeria, you may have to trade with an arm of the broker licensed by a lesser-known authority, such as those in Belize and Mauritius.
Opening an account with the best forex brokers in Nigeria is usually quick and straightforward.
The best forex brokers in Nigeria
To make this process even easier, follow our step-by-step guide. Once you complete these steps, the broker will perform an identity check. This will take a few minutes, at worst a few days.
Islamic trading accounts comply with Shariah law by removing swap and interest charges. These accounts do not feature CFD trading opportunities either.
- Best Forex Brokers To Trade With In Nigeria for .
- You Might Also Like.
- forex bankkort utomlands.
- trading binary options brokers!
- List of Best Forex Trading Platforms in Nigeria!
The registration process for Islamic accounts differs based on the broker. Some brokers allow you to select an Islamic account during the initial setup, whilst others require you to call customer service. Some may also request proof of your religious affiliation.
With our recommended amount, you have the flexibility to place a few trades at once. This spreads your risk, as you can trade unrelated currencies. Even if you take all of our advice and only trade with the best forex brokers in Nigeria, the nature of the market means that there are still risks to consider.
Luckily, our experts are here to help. Below, you can learn more about some of the biggest risks you may encounter, and how to avoid them. We at Topratedforexbrokers. We will only process your personal data in accordance with applicable data protection legislation. For more information on how we treat your personal data, please review our Privacy Policy. Sign up to our newsletter in order to receive our exclusive bonus offers and regular updates via email. Home Nigeria Forex Brokers.