Best Forex Brokers in Nigeria 2023 (Top 10)

If you are looking for the best forex broker in nigeria to trade forex online, you will probably never find it. Why?

There are many forex broker that offer forex trading services to Nigerian traders. The good news is that we have selected the best reliable forex brokers in nigeria .

Best Forex Brokers in Nigeria 2023

HFM (HotForex) NIGERIA

HotForex is a global provider of retail forex trading services, offering individual traders, fund managers and institutional clients proprietary technology and tools to trade forex online.
Headquartered in Mauritius and supported by a global client management center, HotForex offers retail, IB and white label clients the ability to access interbank spreads via state-of-the-art automated forex trading platforms. HotForex is a registered trademark of HF Markets Europe Ltd, a Cyprus Investment Company (CIF) under the number HE 277582. Regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 183/12.

Regulation: CySEC, FCA, DFSA, FSCA
Founded: 2011
Minimum deposit : $5
Max. Leverage: 1:1000
Platforms: Mobile Trading, WebTrading, Metatrader 4, Metatrader 5

Exness NIGERIA

Exness offers several derivative trading instruments with a focus on forex, indices and CFDs. A derivative is a contract between two or more parties where the value of the underlying asset is agreed upon and settled at the closing of the contract. The parties do not own the financial asset, they merely speculate on price changes.

The most common derivatives are futures, forward contracts, options and swaps. Most derivatives are traded over-the-counter (OTC), which means that the trading bypasses a central exchange.

Exness is a MetaTrader broker, which means that its clients have access to one of the most popular electronic trading platforms in the world. Both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are available to Exness clients and offer virtually all the charts, analysis and indicators that a forex broker in South Africa needs, regardless of their level of expertise.

Exness offers a VPS that allows clients to download and run MT4 Expert Advisors (EA) and algo bots 24 hours a day without the need to run a trading terminal.

Regulation: FCA, FSAN CySEC, FSCA, CBCS, FSC
Founded: 2008
Minimum deposit :$1
Max. Leverage: 1:2000
Platforms: Metatrader 4, Metatrader 5

FXTM NIGERIA

FXTM is an award-winning broker that provides access to a wide range of over 250 financial instruments including currency pairs, CFDs, commodities and equities using a range of tools, from live charts and signals to copy trading. it offers very competitive trading conditions and powerful yet user-friendly trading platforms. it offers several educational tools for late beginners.
FXTM offers a range of accounts with fees varying by option. spreads are higher but commission free with standard accounts. eco accounts charge a commission but have lower spreads. CFD traders get spreads starting from 0.1 pips with share accounts while spreads start from 1.3 with standard accounts and 1.5 with cent accounts.

Regulation: FCA, FSCA, CySEC, FSC
Founded: 2011
Minimum deposit : $1
Max. Leverage: 1:2000
Platforms: Metatrader 4, Metatrader 5

XM NIGERIA

XM Online Broker offers its online traders the MetaTrader 4 (MT4) and MT5 platforms, as well as its own WebTrader XM platform. More than 700 financial instruments for trading in the Forex market are waiting for you at XM Online Broker. Online traders will find CFDs on indices, commodities, precious metals and also crypto-currencies.

Regulation: CySec, ASIC, FSC
Founded: 2009
Minimum deposit :$5
Max. Leverage: 1:1000
Platforms: Metatrader 4, Metatrader 5

Fusion Markets

Fusion markets is a forex broker founded in 2017 that is based. it is generally well suited to provide their forex/cfd trading services to global clients. the australian broker offers high leverage 1:500 trading for both australian and global clients. you can trade currencies, stocks and cryptos with tight spreads starting from as low as 0.0 pips and fast execution speeds. they also have a wide range of trading tools to help you in your daily trading activities.
The trading platform offers a safe and secure trading environment, it offers Metatrader 4 as the main trading platform and also Metatarder 5.

Regulation: ASIC, VFSC
Founded:2017
Minimum deposit :$1
Max. Leverage: 1:500
Platforms: Metatrader 4, Metatrader 5, Mobile Trading

Roboforex NIGERIA

RoboForex (RoboForex) started its Forex brokerage in 2009 and is registered in the city of Auckland, New Zealand, where the company’s headquarters are located. Over the years of business development, RoboForex has developed an extensive network of official representative offices around the world. The company’s offices are open in Russia, Ukraine, Latvia, Hong Kong, Romania, Egypt and other countries. RoboForex Forex broker has a number of regulatory bodies in different countries of the world, including such prominent regulators as FSCL, FSPR, CySEC, CRFIN and many others.

RoboForex offers its clients the widest range of trading instruments. Anyone can trade currency pairs, precious metals, energy, as well as CFD contracts.

Regulation: Cysec, FSC
Founded: 2009
Minimum deposit : $1
Max. Leverage: 1:2000
Platforms: Ctrader, Metatrader 4, Metatrader5, Mobile Trading, Currenex

Octafx NIGERIA

OctaFX is a notable newcomer to the Saint Vincent and the Grenadines brokerage industry. This FX and CFD service only offers real STP and ECN accounts, which results in no conflict of interest and a completely transparent business model. Unlike brokers who operate through a market maker model, an account with OctaFX will provide you with zero requotes, 0.2 pip spreads and great execution speed. As a result, OctaFX was awarded as Asia’s Best ECN Broker 2014. On top of that, OctaFX’s customer service is truly superior and has been recognized with numerous customer service awards.

Regulation: Cysec
Founded: 2011
Minimum deposit :$5
Max. Leverage: 1:500
Platforms: Metatrader 4, Metatrader 5, cTRADER 

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