Nigeria with over 200 million in population and being the largest economy in Africa is definitely a country with landmines of opportunities.
In recent years, among the youth populace, forex trading has become one of the platform in harnessing wealth and other financial benefits, if only you know how the game is being played.
Best Forex Brokers & Trading Platforms in Nigeria
Most local and international forex brokers offer currency trading and other financial trading platforms such as cryptocurrencies, indices, and stock.
In this article, I would be sharing with you the 10 best forex trading platforms operational in Nigeria.
They are regarded as the best forex trading platform in Nigeria, founded in Cyprus in 2011. Forextime offers minimum deposits requirements for as low as #2000, and each deposit can be made in the Nigerian naira.
This makes Forextime a great platform for new entrepreneurs and traders They also offer other trading such as CFDs on commodity futures.
Forextime offers 24hours trading 5days a week. The most amazing fact about Forextime is their Various deposit withdrawal method which is also fast and reliable.
Alpaci is One of the oldest forex platforms in the World with a local office in Abuja, this makes an inquiry for new traders very easy. The platform has a very wide range of monthly trading volume, it also provides 24/7 support and various local deposit options with a minimum deposit as low as 0 naira.
Alpaci offers a 30% bonus for new users, they also trade in cryptocurrencies like Bitcoin.
OctaFX is a forex platform with 3 major account type which supports micro account for traders. One of the Amazing facts about OctaFX is their live chat support, WhatsApp support as well as email support.
OctaFX also offers forex trading with 28 currency pairs and cryptocurrencies like Bitcoin, Litecoin, and Ethereum. They have a wide range of funding and withdrawal options to which funding and Withdrawal with Bitcoin is available
It’s a forex platform regulated by the FCA (UK. and CySEC with $5 as it’s minimum deposit. Hotforex trading platform is also available and can be accessed through Android, iPhone and desktop devices making it a very unique trading platform.
It also has an amazing signing up bonus for its new customers and other bonus for its existing customers. Hotforex has various local deposit options which include bank transfers, it also has a wide range of support with live chat inclusive.
Etoro was founded by the assia siblings and their friend in 2007 in Israel. Etoro has a social trading user-friendly platform that allows beginners to get the necessary help they would need in trading. Etoro is regulated by the FCA and CySEC making it a secure platform to trade with, it also features a 2% management earning for traders.
This forex platform trades with 62 currency pairs, this makes them the platform with the highest trading currency pairs. Tickmill is available on various devices like mobile, desktop, iOS, and windows. They also have a very competitive spread for their currency pairs. The platform also supports the latest news around the world about forex.
The Forex trading platform began in 2006 and it is owned by Ava capital market Ltd with it’s regulations stipulated by the Irish Authority(MIFID. and ASIC. it also has a mobile trading platform and it’s support team provides a 24hours service. Avatrade has a free demo account which is available to all their members and allows a minimum deposit of $100 with trading bonus of 40%.
InstaForex began in Russia but has since spread to many countries including Nigeria. The platform is regulated by the FMS and has won numerous awards for being one of the best forex platforms.
InstaForex allows the minimum deposit of $1 and a trading bonus of 250%. It also has a demo account and has various trading and monitoring tools for beginners to allow for easy trading.
9. XM Forex
This platform trades with 55 currency pairs and is regulated by CySEC. XM deals with three account types which allows a very low deposit fee, they also have an educative section on the platform where free training and seminars are held on how to be successful in forex trading.
XM Forex has a very fast withdrawal system and a user- friendly interface which is also available on mobile, desktop and the web. They also have a section for engaging their team of analysts, where they help with researches for free.
Exness is referred to as one of the best forex trading platforms due to its large trading volume and its regulation by by the FCA of the united kingdom. Exness has 120 currency pairs and trades using a very highly Advanced platform “meta trader 5” which also includes a news bulletin.
It requires a minimum of $1 starting deposit with numerous deposit options including E-wallet. Exness also has instant withdrawal options and a well-structured support system.