{"id":110,"date":"2020-06-29T10:04:01","date_gmt":"2020-06-29T10:04:01","guid":{"rendered":"https:\/\/learnbonds.com\/ng\/?page_id=110"},"modified":"2024-04-29T11:03:03","modified_gmt":"2024-04-29T11:03:03","slug":"forex-brokers","status":"publish","type":"page","link":"https:\/\/learnbonds.com\/ng\/forex-brokers","title":{"rendered":"Best Nigeria Forex Brokers for 2025 &#8211; Top Broker Revealed"},"content":{"rendered":"<p>If you\u2019re located in Nigeria and wish you buy and sell currencies online, you will need to use a regulated forex broker. The good news is that there are heaps of online platforms that accept traders from Nigeria. However, this also means that you have to compare the many Nigeria forex brokers on the market to find the right one for you.<\/p>\n<p>To help you out, this article reviews the best five Nigeria forex brokers of 2025. We also give you some handy tips on how to choose a broker yourself and provide a step-by-step guide on how you can get started today!<\/p>\n<div data-accordeon class=\"toc-block\">\n  <div data-accordeon-item>\n    <div data-accordeon-title class=\"toc-title-wrapper\">\n      <div type=\"button\" class=\"toc-btn toc-btn_main\">\n          <svg width=\"12\" height=\"6\" viewBox=\"0 0 14 8\" class=\"icon\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n    <path d=\"M1 1L7 7L13 1\" stroke=\"#fff\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\n<\/svg>\n          <\/div>\n      <span class=\"toc-title\">\n        In This Guide      <\/span>\n    <\/div>\n      <ul data-accordeon-content class=\"toc-list\" style=\"display: none;\">\n          <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#best_overall_nigeria_forex_broker\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Best Overall Nigeria Forex Broker<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#best_nigerian_forex_brokers_of_2025\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Best Nigerian Forex Brokers of 2025<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#how_to_choose_a_nigeria_forex_broker\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">How to Choose a Nigeria Forex Broker<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#leverage_at_nigeria_forex_brokers\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Leverage at Nigeria Forex Brokers<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#conclusion\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Conclusion<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#faqs\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">FAQs<\/a>\n\n        <\/div>\n\n    <\/li>      <\/ul>\n  <\/div>\n    <ul data-accordeon-content class=\"toc-list\" style=\"display: none;\">\n        <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#best_overall_nigeria_forex_broker\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Best Overall Nigeria Forex Broker<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#best_nigerian_forex_brokers_of_2025\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Best Nigerian Forex Brokers of 2025<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#how_to_choose_a_nigeria_forex_broker\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">How to Choose a Nigeria Forex Broker<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#leverage_at_nigeria_forex_brokers\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Leverage at Nigeria Forex Brokers<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#conclusion\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">Conclusion<\/a>\n\n        <\/div>\n\n    <\/li>  <li class=\"StepProgress-item\">\n  <div data-accordeon-item>\n  <div class=\"StepProgress-item__group\" >\n    <a href=\"#faqs\" class=\"btn-handleTocScrollToTitle StepProgress-item__link\" data-level=\"2\">FAQs<\/a>\n\n        <\/div>\n\n    <\/li>    <\/ul>\n<\/div>\n\n<h2 id=\"best_overall_nigeria_forex_broker\">Best Overall Nigeria Forex Broker<\/h2>\n<p>Don\u2019t have time to read our guide and want to get started right away? Find our top-rated Nigeria forex broker of 2025 below. The trading platform is regulated by three tier-one bodies, so your money is safe at all times. Not only will you have dozens of major, minor, and exotic currencies to choose from, but you will not pay any trading commissions.<\/p>\n<h2 id=\"best_nigerian_forex_brokers_of_2025\">Best Nigerian Forex Brokers of 2025<\/h2>\n<p>You\u2019d be surprised just how many regulated forex brokers located overseas actually accept traders from Nigeria. With that in mind, we sought to narrow down our list of recommended brokers.<\/p>\n<p>All of the trading platforms listed below are heavily regulated, support lots of everyday payment methods, and give you unfettered access to the forex trading space 24\/7.<\/p>\n                    \n                    <div class=\"inContentProviderStatic inContentColor--learnbonds fc-row\">\n                        <div class=\"inContentProviderStatic--wrapper\">\n                            <div class=\"container p-0\">\n                                <div class=\"row mb-lg-3 inContentProviderStatic--headerRow\">\n                                    <div class=\"col-12\">\n                                        <h3 class=\"inContentProviderStatic--title\"><strong>1. Plus500 - Commission-Free Forex Broker With Low Spreads<\/strong><\/h3>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mb-3 pt-sm-3 pt-md-3 pt-lg-0\">\n                                    <div class=\"col-12 col-sm-8 col-lg-9\">\n                                        <div class=\"inContentProviderStatic--descriptions\">\n                                            <p>Plus500 is a globally recognized forex and CFD trading platform that is home to thousands of financial instruments. On top of dozens of currency pairs, this also includes stocks, indices, cryptocurrencies, energies, and metals; all in the form of CFD products.<\/p>\n<p>Opening an account takes just minutes, and you can get started with a deposit of just $100 (about 38,000 nairas). This can be funded via a debit or credit card, bank transfer, or Paypal. Once you are all set up, Plus500 allows you to buy and sell currencies without paying any commissions. This is reasonably competitive when trading major pairs, although the minors and exotics do start to creep up.<\/p>\n<p>As is to expected for a broker headquartered in the UK, Plus500 is heavily regulated. This includes licenses with the FCA, ASIC, CySEC, and MAS (Singapore). Finally, Plus500 makes our top-rated listed of Nigeria forex brokers because of its innovative mobile trading app. This allows you to trade currencies on the move with ease, regardless of where you are.<\/p>\n<p><\/p>\n                                        <\/div><!--\/.descriptions-->\n                                    <\/div>\n                                    <div class=\"col-12 col-sm-4 col-lg-3 order-first order-md-2\">\n                                        <div class=\"inContentProviderStatic--rating\">\n                                            <div class=\"rating--holder\">\n                                                <p class=\"rating--text\">Our Rating<\/p>\n                                                <div class=\"rating--star-container\">\n                                                    <div class=\"rating--star\" style=\"width: 94%;\"><\/div>\n                                                <\/div>\n                                            <\/div>\n                                        <\/div><!--\/.rating-->\n\n                                        <div class=\"inContentProviderStatic--provider-logo mt-2\">\n                                            <img decoding=\"async\" class=\"float-md-right\" src=\"https:\/\/learnbonds.com\/ng\/wp-content\/uploads\/sites\/10\/2020\/06\/ed802f96435023b5794c78a1712987c8-base.png\" alt=\"\">\n                                        <\/div><!--\/.logo-->\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row\">\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--pros\">\n                                            <ul class=\"inContentProviderStatic--pros-list\">\n                                                                                                    <li>Minimum deposit of $100<\/li>\n                                                                                                    <li>Over 2,000 trading instruments<\/li>\n                                                                                                    <li>Mobile app available<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--cons\">\n                                            <ul class=\"inContentProviderStatic--cons-list\">\n                                                                                                    <li>No education material<\/li>\n                                                                                                    <li>No education material<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mt-3\">\n                                    <div class=\"col-12 col-md-12 text-center text-sm-left\">\n                                        <div class=\"inContentProviderStatic--button\">\n                                                                                        <a href=\"https:\/\/learnbonds.com\/ng\/visit\/plus500-forex\" title=\"Start Trading\" rel=\"sponsored\" data-relfix=\"1\">Visit Plus500<\/a>\n                                        <\/div>\n                                        <div class=\"inContentProviderStatic--disclaimerText\">\n                                            80.5% of retail investor accounts lose money when trading CFDs with this provider.                                        <\/div>\n                                    <\/div>\n                                <\/div>\n                            <\/div><!--\/.container-->\n                        <\/div><!--\/.inContentProviderStatic--wrapper-->\n                    <\/div><!--\/.inContentProviderStatic-->\n\n                                        \n                    \n                    <div class=\"inContentProviderStatic inContentColor--learnbonds fc-row\">\n                        <div class=\"inContentProviderStatic--wrapper\">\n                            <div class=\"container p-0\">\n                                <div class=\"row mb-lg-3 inContentProviderStatic--headerRow\">\n                                    <div class=\"col-12\">\n                                        <h3 class=\"inContentProviderStatic--title\"><strong>2. AvaTrade - Global Forex Broker With Spreads Starting at 0.9 Pips<\/strong><\/h3>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mb-3 pt-sm-3 pt-md-3 pt-lg-0\">\n                                    <div class=\"col-12 col-sm-8 col-lg-9\">\n                                        <div class=\"inContentProviderStatic--descriptions\">\n                                            <p>AvaTrade is a global forex broker with licenses in multiple countries. This includes Ireland, Canada, South Africa, and Japan. Nigerian traders are more than welcome to open an account, and minimum deposits start at just $100 (about 38,000 nairas). You get can money in and out of your account by using your everyday debit or credit card, or via an international bank wire.<\/p>\n<p>AvaTrade stands out in the fees department, with the spreads on major forex pairs like EUR\/USD starting at just 0.9 pips. If you're keen to trade other assets like the S&P 500, you can reduce this further to just 0.5 pips. AvaTrade is also a notable option if you are fond of the Meta Trader platforms, with the broker supporting both MT4 and MT4.<\/p>\n<p>This means that you will have access to heaps of technical indicators, and be able to customize your trading screen however you see fit. On the flip side, AvaTrade is a bit weak in the educational department, so newbie traders might not be suitable.<\/p>\n<p><\/p>\n                                        <\/div><!--\/.descriptions-->\n                                    <\/div>\n                                    <div class=\"col-12 col-sm-4 col-lg-3 order-first order-md-2\">\n                                        <div class=\"inContentProviderStatic--rating\">\n                                            <div class=\"rating--holder\">\n                                                <p class=\"rating--text\"><\/p>\n                                                <div class=\"rating--star-container\">\n                                                    <div class=\"rating--star\" style=\"width: 90%;\"><\/div>\n                                                <\/div>\n                                            <\/div>\n                                        <\/div><!--\/.rating-->\n\n                                        <div class=\"inContentProviderStatic--provider-logo mt-2\">\n                                            <img decoding=\"async\" class=\"float-md-right\" src=\"https:\/\/learnbonds.com\/ng\/wp-content\/uploads\/sites\/10\/2020\/06\/avatrade.png\" alt=\"\">\n                                        <\/div><!--\/.logo-->\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row\">\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--pros\">\n                                            <ul class=\"inContentProviderStatic--pros-list\">\n                                                                                                    <li>Up to 1:400 leverage<\/li>\n                                                                                                    <li>Options trading<\/li>\n                                                                                                    <li>Supports MT4<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--cons\">\n                                            <ul class=\"inContentProviderStatic--cons-list\">\n                                                                                                    <li>Must fund your account with US Dollars or Euros<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mt-3\">\n                                    <div class=\"col-12 col-md-12 text-center text-sm-left\">\n                                        <div class=\"inContentProviderStatic--button\">\n                                                                                        <a href=\"https:\/\/learnbonds.com\/ng\/visit\/avatrade\" title=\"Start Trading\" rel=\"sponsored\" data-relfix=\"1\">Visit AvaTrade<\/a>\n                                        <\/div>\n                                        <div class=\"inContentProviderStatic--disclaimerText\">\n                                            There is no guarantee you will make money with this provider.                                        <\/div>\n                                    <\/div>\n                                <\/div>\n                            <\/div><!--\/.container-->\n                        <\/div><!--\/.inContentProviderStatic--wrapper-->\n                    <\/div><!--\/.inContentProviderStatic-->\n\n                                        \n                    \n                    <div class=\"inContentProviderStatic inContentColor--learnbonds fc-row\">\n                        <div class=\"inContentProviderStatic--wrapper\">\n                            <div class=\"container p-0\">\n                                <div class=\"row mb-lg-3 inContentProviderStatic--headerRow\">\n                                    <div class=\"col-12\">\n                                        <h3 class=\"inContentProviderStatic--title\"><strong>3. EasyMarkets - CFD and Options Broker Fixed Spreads<\/strong><\/h3>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mb-3 pt-sm-3 pt-md-3 pt-lg-0\">\n                                    <div class=\"col-12 col-sm-8 col-lg-9\">\n                                        <div class=\"inContentProviderStatic--descriptions\">\n                                            <p><p>EasyMarkets is an impressive CFD and options broker that offers a range of currency pairs, including a good number  of exotics. This broker has been around since 2001 and holds a variety of licenses, so it's a secure platform.<\/p>\n<p>This broker supports a few different trading platforms, including its own proprietary offering, available on desktop and as a mobile app, alongside MetaTrader 4. It also offers an arrange of market analysis and trading tools, in addition to helpful educational resources, including free ebooks that are ideal for beginners.<\/p>\n<p>When it comes to fees, EasyMarkets doesn't charge commission, and the spreads are also fixed, so you always know what you have to pay. Thee start from just 0.9 pips, which is very competitive. You can trade forex with up to 1:30 leverage with this broker.<\/p>\n<p><\/p><\/p>\n                                        <\/div><!--\/.descriptions-->\n                                    <\/div>\n                                    <div class=\"col-12 col-sm-4 col-lg-3 order-first order-md-2\">\n                                        <div class=\"inContentProviderStatic--rating\">\n                                            <div class=\"rating--holder\">\n                                                <p class=\"rating--text\"><\/p>\n                                                <div class=\"rating--star-container\">\n                                                    <div class=\"rating--star\"\n                                                         style=\"width: 88%;\"><\/div>\n                                                <\/div>\n                                            <\/div>\n                                        <\/div><!--\/.rating-->\n\n                                        <div class=\"inContentProviderStatic--provider-logo mt-2\">\n                                            <img decoding=\"async\" class=\"float-md-right\"\n                                                 src=\"https:\/\/learnbonds.com\/ng\/wp-content\/uploads\/sites\/10\/2020\/06\/easymarkets.png\"\n                                                 alt=\"\"\/>\n                                        <\/div><!--\/.logo-->\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row\">\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--pros\">\n                                            <ul class=\"inContentProviderStatic--pros-list\">\n                                                                                                    <li>Fixed spreads from 0.9 pips<\/li>\n                                                                                                    <li>Supports MT4<\/li>\n                                                                                                    <li>Plenty of trading tools and learning materials<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--cons\">\n                                            <ul class=\"inContentProviderStatic--cons-list\">\n                                                                                                    <li>Doesn't offer VPS<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mt-3\">\n                                    <div class=\"col-12 col-md-12 text-center text-sm-left\">\n                                        <div class=\"inContentProviderStatic--button\">\n                                                                                        <a href=\"https:\/\/learnbonds.com\/ng\/visit\/easymarkets\"\n                                               title=\"Start Trading\">Visit EasyMarkets Now<\/a>\n                                        <\/div>\n                                        <div class=\"inContentProviderStatic--disclaimerText\">\n                                            There is no guarantee you will make money with this provider.                                        <\/div>\n                                    <\/div>\n                                <\/div>\n                            <\/div><!--\/.container-->\n                        <\/div><!--\/.inContentProviderStatic--wrapper-->\n                    <\/div><!--\/.inContentProviderStatic-->\n\n                                        \n                    \n                    <div class=\"inContentProviderStatic inContentColor--learnbonds fc-row\">\n                        <div class=\"inContentProviderStatic--wrapper\">\n                            <div class=\"container p-0\">\n                                <div class=\"row mb-lg-3 inContentProviderStatic--headerRow\">\n                                    <div class=\"col-12\">\n                                        <h3 class=\"inContentProviderStatic--title\"><strong>4. FXTM - Rated Forex Broker with a Nigerian Office<\/strong><\/h3>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mb-3 pt-sm-3 pt-md-3 pt-lg-0\">\n                                    <div class=\"col-12 col-sm-8 col-lg-9\">\n                                        <div class=\"inContentProviderStatic--descriptions\">\n                                            <p><p>FXTM is an online CFD and forex broker that has acquired an excellent reputation in the investment space. Regulated by CySEC and South Africa, the platform has offices in multiple jurisdictions, including that of Nigeria. This is why the broker has attracted a strong customer base in the country.<\/p>\n<p>In terms of the fundamentals, FXTM allows you to deposit funds with multiple methods, including debit\/credit cards, e-wallets, and bank wire. If you're prepared to deposit a minimum of $500, it might be worth opting for the ECN account.<\/p>\n<p>This is because you will benefit from spreads of just 0.6 pips on major pairs, which is very competitive. Other account types are also offered, albeit, the spreads do come out higher. Outside of the forex department, FXTM lists thousands of CFDs in the form of indices, commodities and stocks.<\/p>\n<p><\/p><\/p>\n                                        <\/div><!--\/.descriptions-->\n                                    <\/div>\n                                    <div class=\"col-12 col-sm-4 col-lg-3 order-first order-md-2\">\n                                        <div class=\"inContentProviderStatic--rating\">\n                                            <div class=\"rating--holder\">\n                                                <p class=\"rating--text\"><\/p>\n                                                <div class=\"rating--star-container\">\n                                                    <div class=\"rating--star\"\n                                                         style=\"width: 84%;\"><\/div>\n                                                <\/div>\n                                            <\/div>\n                                        <\/div><!--\/.rating-->\n\n                                        <div class=\"inContentProviderStatic--provider-logo mt-2\">\n                                            <img decoding=\"async\" class=\"float-md-right\"\n                                                 src=\"https:\/\/learnbonds.com\/ng\/wp-content\/uploads\/sites\/10\/2020\/06\/fxtm-logo.jpg\"\n                                                 alt=\"\"\/>\n                                        <\/div><!--\/.logo-->\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row\">\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--pros\">\n                                            <ul class=\"inContentProviderStatic--pros-list\">\n                                                                                                    <li>Spreads from just 0.6 pips<\/li>\n                                                                                                    <li>Supports e-wallets<\/li>\n                                                                                                    <li>Regulated by FCA and CySEC<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                    <div class=\"col-12 col-md-6\">\n                                        <div class=\"inContentProviderStatic--cons\">\n                                            <ul class=\"inContentProviderStatic--cons-list\">\n                                                                                                    <li>Fees charged on most withdrawal options<\/li>\n                                                                                                                                                                                            <\/ul>\n                                        <\/div>\n                                    <\/div>\n                                <\/div><!--\/.row-->\n                                <div class=\"row mt-3\">\n                                    <div class=\"col-12 col-md-12 text-center text-sm-left\">\n                                        <div class=\"inContentProviderStatic--button\">\n                                                                                        <a href=\"https:\/\/learnbonds.com\/ng\/visit\/fxtm\"\n                                               title=\"Start Trading\">Visit FXTM<\/a>\n                                        <\/div>\n                                        <div class=\"inContentProviderStatic--disclaimerText\">\n                                            There is no guarantee you will make money with this provider.                                        <\/div>\n                                    <\/div>\n                                <\/div>\n                            <\/div><!--\/.container-->\n                        <\/div><!--\/.inContentProviderStatic--wrapper-->\n                    <\/div><!--\/.inContentProviderStatic-->\n\n                                        \n<h2 id=\"how_to_choose_a_nigeria_forex_broker\">How to Choose a Nigeria Forex Broker<\/h2>\n<p>Although we have already discussed our top five Nigeria forex brokers of 2020, there might come a time where you want to perform your own research. If so, we would suggest reading through the tips outlined below to ensure you choose a broker that best meets your needs.<\/p>\n<ul>\n<li><b>Licensing<\/b><\/li>\n<\/ul>\n<p>The most important metric that you need to look out for is whether or not the broker is regulated. It\u2019s unlikely that your chosen platform will be licensed in Nigeria. Instead, brokers typically opt for tier-one licensing bodies like the FCA (UK), MAS (Singapore), ASIC (Australia), or CySEC (Cyrus).\u00a0 Ultimately, if the broker doesn\u2019t hold a license at all, you\u2019re best off avoiding it.<\/p>\n<ul>\n<li><b>Eligibility for Nigerians<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Be sure to check whether or not the forex broker accepts traders from Nigeria. If it doesn\u2019t, you\u2019ll need to look elsewhere.\u00a0\u00a0<\/span><\/p>\n<ul>\n<li><b>Forex Pairs<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You will also need to assess the number of currencies that the online broker gives you access to. For example, while most brokers allow you to trade major and minor pairs, there might come a time where you want to trade exotic currencies. This is especially the case if you are looking to trade the Nigerian naira.<\/span><\/p>\n<ul>\n<li><b>Payment Methods<\/b><\/li>\n<\/ul>\n<p>You will need to deposit real-world naira if you wish to trade forex at an online broker, so check to see what payment methods the broker supports. The easiest way to get money into your account is via your everyday debit or credit card. This way, your deposit will be credited instantly. Alternatively, brokers usually support bank accounts, and sometimes e-wallets like Paypal.<\/p>\n<ul>\n<li><b>Spreads<\/b><\/li>\n<\/ul>\n<p>The spread will dictate how much it costs you to trade forex online. This is the difference between the buy and sell price of a currency pair. The majors are often the cheapest, and exotics the most expensive. You can normally check to see what average spreads the broker charges, although be warned, prices usually increase outside of standard trading hours.<\/p>\n<ul>\n<li><b>Commissions<\/b><\/li>\n<\/ul>\n<p>On top of the spread, Nigeria forex brokers will sometimes charge a trading commission. This is usually a percentage of the amount you trade. For example, if you place a buy order on GBP\/USD worth $500, and the commission is 1%, you will pay a fee of $5. Brokers like Plus500 and IG do not charge any commissions when trading forex.<\/p>\n<ul>\n<li><b>Trading Tools and Research<\/b><\/li>\n<\/ul>\n<p>You should also explore what trading tools the platform offers to assist you with your research. At the forefront of this are technical indicators like the RSI and exponential moving averages. It\u2019s also handy if the broker offers a fundamental research department.<\/p>\n<ul>\n<li><b>Customer Support<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Check to see what customer support channels the broker offers. As the platform is likely to be based overseas, you\u2019ll want to choose a broker that offers like chat. Also, check what times the customer service team operates. This is usually 24\/5 to mirror that of the financial markets. <\/span>[\/su_list]\n<h2><strong>Leverage at Nigeria Forex Brokers<\/strong><a href=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/03\/Flag-map_of_Nigeria.svg\"><img decoding=\"async\" class=\"wp-image-255097 alignright\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/03\/Flag-map_of_Nigeria.svg\" alt=\"\" width=\"220\" height=\"176\" \/><\/a><\/h2>\n<p>Leverage is an option offered by brokers that allows you to make larger trades by borrowing capital from the trading platform. For example, if you trade $100 with 1:5 leverage, the trade is worth $500.<\/p>\n<p>If you\u2019ve got a higher appetite for risk, you\u2019ll be pleased to know that there are no leverage limits in place for Nigerians. This is in stark contrast to European traders, who are capped at 1:30 on majors, and 1:20 on minors\/exotics.<\/p>\n<p>As such, your chosen broker might offer you leverage of 1:1\u2013 or more. Just make sure you have a firm grasp of the risks. While leverage can amplify your gains, it can also do the same for your losses.<\/p>\n<h2 id=\"conclusion\">Conclusion<\/h2>\n<p>In summary, although Nigeria is home to very few forex brokers, there are lots of overseas platforms that accept Nigerians. This includes a number of brokers that are regulated by tier-one licensing bodies like the FCA, CySEC, and ASIC, so you know your money is safe and secure. Ultimately, regardless of which forex broker you decide to sign up with, just make sure you understand the risks. After all, most newbie traders lose money.<\/p>\n<h2 id=\"faqs\">FAQs<\/h2>\n<p><span style=\"font-weight: 400;\"><div class='man_faq_sec' itemscope itemtype='https:\/\/schema.org\/FAQPage'> <\/time><time itemprop=\"dateModified\" datetime=\"2020-06-29 10:21:09\"><\/time><script>jQuery(document).ready(function() {\r\n\t\t\tjQuery('.accordionButton').on('click', function() {\r\n\r\n\t\t\t\t\/\/REMOVE THE ON CLASS FROM ALL BUTTONS\r\n\t\t\t\tjQuery('.accordionButton').removeClass('on');\r\n\t\t\t\t\t\r\n\t\t\t\t\/\/NO MATTER WHAT WE CLOSE ALL OPEN SLIDES\r\n\t\t\t\tjQuery('.accordionContent').slideUp('normal');\r\n\t\t\t\r\n\t\t\t\t\/\/IF THE NEXT SLIDE WASN'T OPEN THEN OPEN IT\r\n\t\t\t\tif(jQuery(this).closest('.ms_faq').find('.accordionContent').is(':hidden') == true) {\r\n\t\t\t\t\t\r\n\t\t\t\t\t\/\/ADD THE ON CLASS TO THE BUTTON\r\n\t\t\t\t\tjQuery(this).closest('.ms_faq').find('.accordionButton').addClass('on');\r\n\t\t\t\t\t\t\r\n\t\t\t\t\t\/\/OPEN THE SLIDE\r\n\t\t\t\t\tjQuery(this).closest('.ms_faq').find('.accordionContent').slideDown('normal');\r\n\t\t\t\t} \r\n\t\t\t\t\t\r\n\t\t\t\t});\r\n\t\t\t});\r\n\t\t\t<\/script><section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">Are Nigeria forex brokers regulated?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">Not all forex brokers in the online space are regulated. With that said, all of the platforms that we have recommended on this page, which all accept Nigerians, are regulated by tier-one bodies like the FCA or ASIC.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">Can Nigerians trade forex on leverage?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">You certainly can. In fact, there are no limits in place at all, meaning you are likely to find a broker that offers in excess of 100:1 on major currency pairs. Do, however, tread with caution. <\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">Will I need to provide ID at a Nigeria broker?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">If you are using a regulated broker (which you should be), then yes, you will need to upload some ID. This needs to be a clear copy of your passport or driver\u2019s license. <\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">What is the minimum deposit amount at Nigeria forex brokers?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">This will vary from forex broker-to-broker. Of the five platforms we have recommended on this page, the lowest deposit amount is $100. This equates to about 38,000 naira.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">What payment options do Nigerian forex traders have to choose from?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">The best forex trading platforms in the online space allow you to choose from a debit\/credit card, e-wallet, or bank wire.<\/p>\r\n                <\/div><\/div><\/section>\n<\/span><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>If you\u2019re located in Nigeria and wish you buy and sell currencies online, you will need to use a regulated forex broker. The good news is that there are heaps of online platforms that accept traders from Nigeria. However, this also means that you have to compare the many Nigeria forex brokers on the market&#8230;<\/p>\n","protected":false},"author":687,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"class_list":["post-110","page","type-page","status-publish","hentry"],"acf":{"show_disclaimer":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Best Nigeria Forex Brokers for 2025 - Top Broker Revealed<\/title>\n<meta name=\"description\" content=\"Based in Nigeria and looking for an online broker to trade currencies? 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