Top 10 Forex Brokers In Nigeria

Our best registered forex brokers in Nigeria for May 2022 are:

  • Pepperstone Pepperstone - MT4 Best Forex Trading Platform
  • FP Markets FP Markets - STP Forex Trading Account
  • fxtm logo new FXTM - Nigerian Naira (NGN) Funding
  • IC Markets IC Markets - Lowest Spread Nigerian Broker
  • hotforex logo HotForex - Best High Leverage Forex Broker
  • avatrade logo new AvaTrade - Best Fixed Spread Trading Account
  • oanda logo OANDA - Most Regulated Broker (FCA, ASIC)
  • Plus500 Plus500 - Best Forex Demo Account
  • octafx logo NovaFX - Top Nigerian Islamic Account

Pepperstone
Plus500
IC Markets
FP Markets
FXTM
Our Rating
9.17
5.83
8.50
8
6
74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider
77% of retail CFD accounts lose money
77% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd
The vast majority of retail investor accounts lose money when trading CFDs.
77% of retail investor accounts lose money when trading CFDs with this provider

Regulations and Licenses

Feature
Pepperstone
Plus500
IC Markets
FP Markets
FXTM
CMA (Kenya)
Other Regulators

Brokerage

Feature
Pepperstone
Plus500
IC Markets
FP Markets
FXTM
EUR/USD Avg. Raw Spread
0.17
-
0.02
0.20
0.3
GBP/USD Avg. Raw Spread
0.59
-
0.23
0.40
0.5
AUD/USD Avg. Raw Spread
0.24
-
0.17
0.30
0.5
EUR/USD Standard Spread
0.75
-
0.62
1.30
1.9
EUR/USD Fixed Spreads
-
-
-
-
-
Commissions (USD Base)
$3.50
-
$3.50
$3.00
$2.00
Minimum Deposit
$0
$100
$0
$100
$500
Swap Free Account
No Inactivity Fees
Funding Methods
16+
3+
15+
10+
13+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
Plus500
IC Markets
FP Markets
FXTM
Currency Pairs
62+
71+
61+
63+
63+
Cryptocurrency CFDs*
12+
15+
18+
4+
-
Index CFDs
14+
67+
16+
14+
11+
Share CFDs
300+
1816+
100+
12,986+
180+
Commodities CFD
9+
22+
26+
7+
7+
Stockbroking
-
-
-
-
10+
Retail Max. Leverage (Kenya)
400:1
-
-
-
-
Retail Max. Leverage (With offshore regulators)
200:1
300:1
500:1
500:1
Accounts:
Advantage & Advantage+ 2000:1
Micro Account 1000:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
Pepperstone
Plus500
IC Markets
FP Markets
FXTM
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account
Unique Feature
Smart Trader Tools
Trade cannabis index
ECN pricing
Fastest Limit Order Execution Speed
Floating leverage

Overall