Nigeria is an oil-rich country sometimes called the gateway to the African continent.。As a result of the country's positive economic growth over the past decade, foreign exchange trading has become increasingly popular for investment and has received widespread public attention, making Nigeria, along with South Africa, the most widely traded country in Africa.。

However, despite its rapid economic growth, Nigeria is also known as the birthplace of various financial scams.。If you are a native, choose only trusted and regulated forex brokers。In this article, we have listed ten best Forex brokers in Nigeria。

Foreign Exchange Trading in Nigeria

Trading in Nigeria is easy.。As in any other country, all you need is a smartphone or computer, a stable internet connection, some funds and a forex trading account。The only problem may be power and Internet connection. Although the network connection in many urban areas has become more stable, the network connection in some places is still poor。Therefore, Nigeria's forex traders are better off setting hard stops when trading to prevent heavy losses from losing connections.。

Forex trading is perfectly legal in Nigeria as long as you are investing with your own money for personal gain。In fact, the country does not have strict regulations on foreign exchange trading, mainly because foreign exchange trading is still a new market in Nigeria.。

Foreign exchange transactions in Nigeria are regulated by the Central Bank of Nigeria (CBN), which aims to ensure the transparency and efficient operation of the foreign exchange market.。The agency issues licenses to both local and foreign forex brokers, so every broker operating within the country must register and meet certain requirements, and also has a consumer protection unit that accepts and analyzes complaints from investors.。If a broker is found guilty, authorities could impose a fine of a certain amount or even revoke its license。

1. IC Markets

IC Markets is an Australian ECN broker registered under ASIC supervision.。Clients' funds are held in separate funds accounts with Australian banks (National Australia Bank and Westpac), which means they separate clients' funds from the company's funds and are not used for the company's purposes.。

IC Markets supports MetaTrader 4, MetaTrader 5 and cTrader。Platforms, commissions and spreads depend on the type of account you choose, so be sure to check which type is right for you。But even so, IC Markets still provides a good trading environment for any trader, especially in terms of spreads and transaction fees。The broker offers low spreads on major and foreign currency pairs and charges low commissions。Deposits and withdrawals can be made by credit card, debit card, bank transfer, PayPal, Skrill, Neteller, Webmoney and Fasapay。

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IC Markets is a private company in International Capital Markets Pty Ltd..) an online forex brokerage company operated under。Traders under Australian jurisdiction offer trading services at IC Markets-AU, which is based in Australia and licensed by the Australian Securities and Investments Commission (ASIC).。

On the other hand, non-Australian traders who open accounts with the broker are registered under the Seychelles-based IC Markets SEY and are regulated by the Seychelles Financial Services Authority (SFSA).。This dual operation is the result of the Australian Securities and Investments Commission's relatively new rules, which prohibit its regulated brokers from offering trading services outside Australia.。

IC Markets is classified as an ECN broker offering clients MetaTrader 4, MetaTrader 5 and cTrader as platform trading options。The broker also follows market trends with cryptocurrencies as one of its products, enriching its already wide selection of trading assets, including currencies, indices, metals, energy, software, stocks and bonds.。

IC Markets "minimum deposits are at a moderate level compared to other ASIC-regulated brokers, as each client has a deposit of $200.。Market analysis materials are also regularly prepared for trading insights on the official website of IC Markets, proving their ability to provide traders with important content created specifically for the market experts they work for.。

For payment methods, IC Markets allows financing and withdrawals via wire transfers, credit cards, PayPal, Skrill, Neteller, FasaPay, UnionPay, and BitPay's Bitcoin。The more interesting aspect of the broker is its multiple base currencies, including the US dollar, Australian dollar, euro, British pound, Singapore dollar, New Zealand dollar, Japanese yen, Swiss franc, Hong Kong dollar and Canadian dollar。

Due to the trading technology of IC Markets equipped with highly centralized servers and extremely low latency (especially on cTrader), the broker is well known for its ability to host traders with special needs for high-frequency trading and order brushing。

In summary, IC Markets is the right destination for active traders looking for well-regulated brokers。IC Markets is also flexible in terms of base currency and payment methods, which demonstrates their commitment to welcoming traders from outside their home countries.。By the end of 2019, IC Markets was offering websites in 18 international languages, including English, Korean, Indonesian, French, Spanish, Italian, Malay, German and Chinese.。

2. FXTM

FXTM or ForexTime, a global forex broker founded in 2011, is one of the best forex brokers in Nigeria and one of the few that actually have a local office and phone number in the country.。FXTM is regulated by a number of well-known regulators such as FCA, CySEC。The broker offers CFDs in more than 50 currency pairs, including major currency pairs, minor currency pairs and exotic currency pairs.。There are also CFDs for commodity futures, crypto assets, indices and spot metals.。Leverage up to 1000: 1。

FXTM offers multiple types of accounts, all of which accept USD or NGN and have very low minimum deposit requirements for micro accounts。For beginners, free demo accounts are available as well as various educational materials such as webinars。FXTM supports two popular trading platforms: MetaTrader 4 and MetaTrader 5。In addition, the broker offers low spreads across all platforms for most major currency pairs.。

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Originally launched in 2011, FXTM's unique vision is to offer unparalleled superior trading conditions.。Opening an account with FXTM also gives you access to advanced education and advanced trading tools in the Forex industry。

FXTM is now registered with the UK Financial Conduct Authority with registration number 600475, the company is also regulated by the Cyprus Securities and Exchange Commission with CIF licence number 185 / 12 and licensed by the South African Financial Conduct Authority (FSCA) with FSP number 46614.。

FXTM has 1 million registered accounts and more traders join every day。The company continues to strive to improve its performance and has won many awards such as the World Finance Award for Best Trading Experience 2019, the International Finance Award for Best Online Forex Trading Company in Nigeria 2018, the Hexun 2018 Reputable Investor Education Forex Broker Award, Fxeye.Com 2018 China Foreign Exchange Brand Award, etc.。

As a responsible broker, FXTM determines leverage (expressed as a ratio of trade size relative to the trader's purchasing power) based on the trader's trading knowledge and experience level, and evaluates it through an appropriateness assessment. It also supports leveraged trades up to 1: 1000。

As for spreads, FXTM offers 0.The low spread from 1 o'clock, so traders can withdraw profits at the beginning of the trade。With headquarters in several countries, the company uses No Trading Desk (NDD) technology and works with reliable liquidity providers to deliver the best bid and ask prices.。

For beginners, there is an automated trading tool called algorithmic trading。Traders can develop their own trading strategies or adopt the strategies of other traders when trading at FXTM。In addition, the strategy is also applied to automated trading systems, such as smart trading systems, so that traders don't have to worry about losing opportunities without observing the market and still make profits。

Three types of ECN accounts using MT4 and MT5 trading platforms。There are also mobile and tablet app trading platforms。In addition to offering multiple account variants, FXTM also makes every effort to ensure that customers receive the excellent support they deserve, so that their trading experience is optimal and user-friendly。

FXTM also offers a variety of products, in addition to more than 50 foreign currencies, gold, silver, commodity futures (oil) CFDs, ETF CFDs and indices.。

The broker also provides education on basic concepts of the forex industry。Traders can read all the concepts offered in the form of e-books, video tutorials, articles, webinars and forex seminars。The FXTM website is available in 17 languages for traders to understand Forex。

Traders can also choose from a variety of payment methods, including credit cards (Visa, Mastercard, Maestro) and e-wallets (Neteller, Skrill, Western Union)。For withdrawal of funds, traders do not have to pay a fee of 2 hours to 2 days。Traders can ask further questions via live chat and contact the administrator via email, FXTM has a question and answer page on Forex trading。

3. HotForex

HotForex is a Forex and CFD broker founded in 2010 with local offices in Nigeria.。The broker is highly regulated and licensed by FCA, FSCA and CySEC。In addition to foreign currency, the broker offers more than 100 crypto assets, metals, commodities and equity CFDs.。

HotForex has some of the best offers on the market in terms of transaction fees。There are 5 account types for you to choose from, except for zero commission accounts, all account types are spread-only (commission-free)。Keep in mind that these amounts may change based on market fluctuations。Plus, you can get up to 1000: 1 leverage with a minimum deposit of just $5。

In addition, HotForex offers the entire MetaTrader family, including MetaTrader 4 and 5 accessible from desktop, Android and iOS。The desktop version specifically supports an automated trading system called "EA Trading."。Finally, HotForex offers Nigerian traders a variety of deposit and withdrawal options, including local bank transfers and online payments.。

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HF Markets is an award-winning Forex and commodities broker founded in 2010, offering trading services and facilities to retail and institutional clients.。More than nine years since opening, HF Markets has opened around 1,500,000 live accounts worldwide with 200 employees.。

From the point of view of its services, HF Markets can be regarded as middle class, customers do not need to prepare a large deposit to join the broker to trade。In addition, there are a variety of account types, trading software and tools for both individual and institutional clients to trade Forex and CFD online。

HF Markets is the registered brand name of HF Markets (Europe), which is regulated by various financial regulators according to its location。Details are as follows:

HF Markets (SV) Ltd, registered as an international business company in Saint Vincent and the Grenadines with registration number 22747 IBC 2015。HF Markets (Europe), licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 183 / 12。HF Markets SA (PTY) is a financial service provider (FSP) licensed and regulated by the South African Financial Sector Conduct Authority (FSCA) under license number 46632.。HF Markets (Seychelles) is incorporated under the laws of the Republic of Seychelles, registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA), securities dealer license number SD015。HF Markets (DIFC) Ltd, licensed and regulated by the Dubai Financial Services Authority (DFSA), license number F004885。HF Markets (UK) Ltd, authorised and regulated by the Financial Conduct Authority (FCA), company reference number 801701。

Traders can become professional clients, manage and assess risk if they are more experienced, knowledgeable and have a more mature trading environment。As a result, professional clients can get better rates but less regulatory protection。

Trading through HF Markets gives traders access to a variety of trading tools, such as Forex CFD, cryptocurrencies, rare metals (gold, silver, etc.), energy (oil and gas), commodities (such as coffee, copper and sugar), indices, bonds and popular stocks (such as Google, Apple and Facebook)。

HF Markets offers the lowest spreads on the market, with spreads in zero accounts starting at 0。The broker's quotes for major forex currency pairs are accurate to five decimal places。As a result, traders have the opportunity to obtain more accurate pricing and optimal spreads。

HF Markets has received a number of prestigious titles, including the great honour of being among the world's top 100 companies in world finance.。Other awards include the "World's Best Customer Money Security" award from Global Brands magazine, the Best Global Forex Documentary Trading Platform award from the 2019 Global Forex Awards, and the 2019 Fastest Growing Forex Broker Mena Award from International Business Magazine.。

After opening an account in HF Markets, traders will be able to meet all their trading needs through various forex trading platforms。Whether traders prefer to trade on desktop or mobile, MetaTrader 4 can be used on desktop (terminals, multiterminals and web terminals) and mobile phones (iPhone, iPad and Android)。

Clients' funds are held in separate accounts and only the major banks are used by the market, as successful traders must focus their full attention on trading rather than worrying about the safety of their funds。

HF Markets does not charge any transaction fees when making deposits and withdrawals, and has a variety of payment methods, with a choice of wire transfers, bank cards and online payments (Neteller, iDeal, Soport Banking and Skrill), ensuring that traders can trade quickly 24 / 7 on weekdays.。

Traders can earn extra income by joining affiliate programs offered by Markets。Clients who join the program will get some advantages, such as a 60% net spread based on sub-client trading volume, and net income of up to $15 per lot.。More information about HF Markets can be found on its official website, which supports 27 languages。

In summary, HF Markets is one of the award-winning Forex and Commodities Brokers。Traders can choose from a variety of account types in HF Markets, and the broker itself is a trader's favorite due to its low spreads, ideal for traders with limited funds and a desire to have more opportunities to maximize profits。

4. OctaFX

OctaFX is another Forex broker that accepts Nigerian traders, founded in 2011.。Compared to other brokers, OctaFX's trading tools are relatively limited, with only 28 currency pairs, as well as CFD trading in metals, indices, energy and cryptocurrencies.。However, we should note that the broker has competitive spreads, especially for traders who want to trade major currency pairs, gold CFDs and cryptocurrency CFDs against the US dollar.。

OctaFX trading conditions generally support a variety of trading strategies, including scalping, hedging and documentary trading, and customer support is very active in dealing with issues and complaints。Live chat support is available five days a week, while email support is available 24 / 7。They also offer WhatsApp text support for traders, but still don't have a Nigerian number.。

In terms of funding methods, OctaFX offers Nigerian traders a wide range of options, including instant funds, BTC funds and withdrawals via Skrill or Neteller, and fast zero-fee funds via bank transfer, cash or ATM using their GTBank account.。

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OctaFX is one of the most famous brokers in the world and has won many awards for its very comfortable trading atmosphere and close-to-client service。OctaFX was founded in 2011 and is headquartered in Nicosia Strovolou 47, Kyros Tower。

OctaFX has received authoritative awards including "Best ECN / STP 2019" and "Best Broker in Asia 2019" from FX Daily Info; the Best Broker in Asia 2018 from Global Banking and Finance Review Magazine; and the Best Forex Broker and Best Trading Conditions 2018 from European CEO Magazine.。

For traders in most countries, OctaFX is licensed by Octa Markets Incorporated and registered in Saint Vincent and the Grenadines.。The broker also offers various facilities, such as live chat in Indonesian and WhatsApp support services, and deposits and withdrawals can be made through various local banks.。OctaFX does not charge a commission for every deposit and withdrawal made by a trader。

OctaFX offers different types of accounts that use market execution (STP / ECN) and 0.Floating spread of 2 points。All accounts of the OctaFX broker allow the use of various forex strategies, including scalping, hedging and trading with an EA。

There is also a fixed exchange rate discount when opening a Micro MT4 account.。All deposits made in IDR will be calculated at the exchange rate of US $1 = Rs 10,000 and will be credited to the trader's account balance。In addition, Muslim traders who want to avoid overnight interest can also use a no overnight interest account。

OctaFX trading is also suitable for novice traders。Because OctaFX offers low spreads, from 0.0 points to start floating, the required initial deposit is also very low, only $25。Account currencies are USD and EUR。

OctaFX gives 50% bonus every time a trader makes a deposit。and OctaFX's opening opportunities increase, deposit bonuses can be withdrawn on terms and conditions。

If traders are still confused about calculating profits, the OctaFX platform provides a trading calculator for each account type, where traders simply enter the currency pair being traded, the amount of leverage, the number of lots, and the type of currency used in the account。

With the Autochartist function, the opportunity to make a profit is also increasing。Traders are quickly notified when a trade shows a profit signal。Trend prediction accuracy reached 83%。

Traders do not need to worry about the security of the broker's funds, OctaFX uses segregated accounts and protects personal data and online financial transactions through SSL technology, which is adjusted according to international accounting standards and regulations.。

Another advantage offered by OctaFX is the Trade & Win program。Opening an account with OctaFX will give you the opportunity to collect lots, which can be accumulated into a variety of attractive prizes. Traders only need to open a real account on MetaTrader4 or MetaTrader5 through OctaFX to redeem the prizes for this promotion. Prizes include T-shirts, Android smart watches, smartphones and laptops。

OctaFX often has bonuses and other promotions, the broker runs weekly trading competitions on demo accounts and offers real bonuses that can be used for trading。One of the prize contests is the OctaFX Champion-MT4 Demo Contest, with four winners per period and a total prize of $1,000.。

5. XM

XM Group is part of Trading Point of Financial Instruments Ltd, which was founded in 2009 and is regulated by CySEC and ASIC Australia.。XM offers no less than 55 forex currency pairs and more than 350 CFDs instruments on its platform, plus negative balance protection and 24 / 7 customer support.。

EUR / USD spread can be as low as 0.8, probably one of the lowest in the industry; demo accounts and Islamic accounts are also fully available; no commission will be charged on any trading account。

One of the notable features of XM is the no re-quote policy。About 99 in XM.53% of orders are executed within one second and are guaranteed not to be re-quoted, so they can be executed immediately。XM also offers free research tools through its in-house team of analysts, with a very user-friendly interface that can be used on a variety of devices, including PCs, mobile devices and the web。For trading education, you can enjoy live webinars as well as free training programs to further improve your trading skills。

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XM was founded in 2009 as a company called Trading Point of Financial Instruments Ltd..A member of an online brokerage firm。To serve customers worldwide, the company has split into XM Australia and XM Global, as well as XM Cyprus。Each member has a different head office and license, XM Australia is registered under the Australian Securities and Investments Commission (reference number: 443670), XM Worldwide is registered under the International Financial Services Commission (60 / 354 / TS / 19), and XM Cyprus is registered under the Cyprus Securities and Exchange Commission (reference number: 120 / 10).。

XM is one of the more experienced brokers in the online forex trading world today。Since its inception, the broker has undergone many changes, including the addition of an ultra-low account and webinar function, which supports 19 different languages with 35 local instructors in each language。

In terms of trading instruments, XM is known for its diversity of asset providers, ranging from foreign exchange, commodities, CFDs for equity indices, precious metals, energy, to equities。XM prides itself on being an ideal broker for executing trades, providing a statistic that 99.35% of orders executed in less than a second。Trading at XM also offers a strict no-re-quote policy, no virtual trader plug-ins, no rejection of orders, real-time market execution, and the option for traders to place orders online or over the phone.。

In the Ultra-Low account, the spread of all major currency pairs can be as low as 0.6 points, while the spread of other accounts usually starts at 1 point。XM chose to limit their leverage to a scale of 1: 888, rather than offering a maximum leverage of 1: 500 or 1: 1000 (whole numbers), a unique number now widely recognized as a trademark of XM.。

To protect client funds in extremely volatile situations, XM offers negative balance protection for each type of account。Deposits for micro and standard accounts start at $5, while Ultra-Low accounts require a minimum deposit of $50。Traders who open an account at XM can get conditions similar to a penny account environment in a micro-account, where each lot has a contract size of only 1,000 units.。If you use the smallest number of lots on the MetaTrader platform, which is 0.01 lots, then the trader can trade only 10 units per trade。

For deposits, XM applies zero-fee deposits in most of its available payment methods。Traders can choose to deposit and withdraw money by wire transfer, credit card, and the most popular electronic payment options such as Skrill, Neteller, and FasaPay.。

XM also provides Islamic accounts for Muslim traders who comply with Sharia law that prohibits the use of interest-bearing overnight swaps for each currency pair.。In order to provide their customers with the best trading experience, XM has opened access to MT4 and MT5 platforms, each with more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android and Android tablets).。

Overall, there is no doubt that XM has gone global, with its deep commitment to providing trading services on a global scale available in more than 15 languages.。In addition to simplifying the trader's experience through mainstream trading platforms and high-quality trade execution, XM is open to all types of traders, from small capital traders to more experienced traders who prepare large deposits.。Even a penny trading environment for traders if they choose to register under a micro account。

For their global approach, XM has ensured that traders from various countries can easily access their services.。This has resulted in different domain names for traders in specific jurisdictions。

6. Exness

Exness is the brand name of Nymstar Limited, a global brokerage firm regulated by the FSA (Seychelles) and Vlerizo (Pty) Ltd, a financial services provider licensed by the FSCA (South Africa), offering no less than 200 financial CFDs instruments, including FX currency pairs, stocks, indices, energy, metals and cryptocurrencies.。

Exness has won many awards as a retail broker, mainly for its reliable service and comfortable trading environment。The spread of forex trading is usually from 0..1 point, quite low compared to other brokers in the industry。You can trade with the world-renowned MetaTrader 5 and MetaTrader 5 over the web, Windows or Mac。

In addition, the broker offers the latest financial news and technical analysis charts to help traders trade。Customer support is also commendable, with 24x5 service in eight languages and 24x7 service in three languages。Exness offers a variety of deposit and withdrawal financing options, such as local online bank transfers, credit / debit cards, and e-wallets such as Skrill (some have instant withdrawal options)。

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The choice of broker is adjusted according to the needs of each trader. If you only need the basic platform and trading functions with the best attributes, then Exness may be your best choice。

Exness with its 0 only.Advantages such as the low spread from 1 o'clock make up for the lack of changes in its functions, which is very suitable for traders using scalping strategies (Scalper)。Spreads for major currency pairs in some account types can also be as low as 0.0 point, depending on market conditions。

Not only that, traders can also enjoy other advantages such as automatic withdrawals。Exness will process most customer withdrawals immediately without manual inspection; however, depending on the payment provider or method selected, withdrawals may be restricted。

Exness is one of the STP / ECN brokers in Europe, and the safety of traders' funds is also guaranteed。Exness became the official partner of Real Madrid football team for 3 years from July 2017, which also proves that the company has a high degree of stability.。

Exness supports deposits and withdrawals 24 hours a day, 7 days a week。However, it should be noted that the Company does not assume any responsibility if there is a problem with the deposit or withdrawal due to the payment system.。

Traders don't need to worry about transaction fees when making deposits and withdrawals.。Exness does not charge traders any transaction fees, and the chosen payment provider may incur some fees。Exness offers traders a variety of payment methods, including wire transfers, bank cards, Neteller, Skrill and more。

Financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the world's top four accounting firms。

In addition, Exness is one of the most transparent brokers in the online trading industry, and traders can find all the information about the company on the website, such as trading volume, number of active customers, customer deposits, company funds, etc.。

Exness offers different platforms, including MetaTrader 4, MetaTrader 5, web and mobile platforms。This makes it easier for traders to trade on Exness because they can also access the Exness platform anytime, anywhere.。

Over the years, Exness has developed into a broker that attracts traders, who comply with financial regulations such as FCA and CySEC, further strengthening their trust.。

One measure of customer confidence is the volume of transactions。As of December 2018, the monthly trading volume of its clients reached $348.4 billion, with more than 50,342 active traders worldwide.。

With the programs offered by Exness, traders also have the opportunity to earn extra income by becoming their partner。By introducing the Broker (IB) program, partners can earn up to 33% spread commission from each new customer who registers。

Additional income from Exness Partners。Traders who register through the member link can earn up to 25% spread commission per trade.。

Customers can also use their free VPS hosting service when trading at Exness。VPS (Virtual Private Server) provides traders with greater reliability and stability because they can maintain their trading and expert advisors without interruption in the event of unexpected technical problems (such as Internet or power outages)。

In summary, Exness is a trader's favorite broker due to its low spreads and flexible account type, ideal for traders with limited funds but need more opportunities to maximize profits。The broker is also known for its maximum support for new and old partners.。

7. AvaTrade

AvaTrade is licensed by FSCA (South Africa) and ASIC (Australia), and although it does not yet have a local office in Nigeria, the European broker is widely recognized almost all over the world and has offices in many countries around the world.。However, they do have a Nigerian customer support phone number, but the phone and English chat are only available during working hours.。

AvaTrade uses a fixed spread system, so the amount will remain the same regardless of market conditions or the time you trade。They offer 0 for EUR / USD.9 points difference, the rest is usually quite low。AvaTrade charges zero fees for deposits and withdrawals。

Through the broker's intuitive and simple interface, traders can easily navigate the trading platform。There is also specialized educational content for beginners, as well as a variety of trading software such as MetaTrader 4 and the internal platform AvaTradeGo。You can also copy the trades of experienced traders using automated trading software such as ZuluTrade or MQL5。

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AvaTrade is one of the most comprehensive brokers, supporting almost all trading styles。Avatrade not only allows hedging, scalping and expert advisors (EA), but also completes its services through one cancellation of another order (OCO) and automated trading in many variants of automated trading systems.。

Founded in 2006, AvaTrade's primary mission is to allow people to trade with confidence.。If traders are still confused about the best broker to support traders trading, AvaTrade may be the trader's choice, as it has been evaluated and recognized for some of the industry's most outstanding financial and technical achievements for its clients.。

In 2019, the Dublin-based broker acquired Daytrading."Best Forex Broker 2019" by com。In addition, the company has been honored as "Best Forex Broker," "Best Bitcoin CFD Trading Provider of the Year" and "Best Alliance Program in Europe."。

In addition, for more liquid traders, AvaTrade offers a number of platforms that allow traders to trade using laptops and mobile phones。The availability of the free Autochartist tool in the platform is the best support for both novice and experienced traders, as it makes it easier for them to find trading opportunities without having to look at the chart all day。

Autochartist free signals available in gold accounts, platinum accounts and AVA Select。By opening an account with AvaTrade, traders do not have to pay for the full Autochartist service。Autochartist itself is a market scanning tool that can detect crossings from a variety of technical perspectives.。Traders can access AvaTrade on multiple platforms such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading and AvaOptions。

On the regulatory side, AvaTrade has a large number of credible licenses that guarantee security even with deposits as high as $10,000.。AvaTrade uses a separate account system, subject to the Central Bank of Ireland (No..C53877), ASIC Australia (No.406684), Japan JFSA (No.1662) and South Africa (FSP 45984) regulatory。

In the event of extreme market volatility, will traders suddenly lose more than their deposits?？AvaTrade explicitly answers no because traders have negative balance protection。

AvaTrade has a minimum deposit of $100 and offers different leverage depending on the trading instrument; whether it is Forex (30: 1 start), Indices (20: 1 start), Commodities (5: 1 start), ETFs (5: 1 start) or Cryptocurrencies (2: 1 start)。

AvaTrade is committed to maintaining a set of customer-related values。As a result, the company offers the best trading experience with multilingual customer service and the most advanced and user-friendly trading platform.。

Novice traders can also learn Forex trading in the "Education" tab of the official AvaTrade website。Traders will find tons of articles, video tutorials and more tools to help them every step of the way。This is an important requirement as the forex market can be a bit unbearable and even scary at times, so traders need to make sure they are fully prepared before they start trading in a live account。

AvaTrade offers a variety of account types, as well as Islamic trading accounts specifically for Muslim traders.。The Islamic account type is similar to the regular account type with one key difference; it does not charge any special fees or interest (no overnight interest), which is in line with the financial principles of Islamic law。

Traders can choose AvaTrade as an ideal option if they are confident in forex trading。The minimum deposit and the various platforms offered are suitable for beginners trying Forex trading for the first time。

8. Alpari

Founded in 1998, Alpari has grown to become one of the largest brokers in terms of monthly trading volume.。As one of the oldest brokers in the world, Alpari has done a great job in maintaining its reputation and expanding its business to various countries, including Nigeria.。Alpari, in addition to having a local office in Abuja, provides a good trading environment for its clients.。They offer a wide range of trading tools, including Forex and CFDs for indices and spot metals, which can be accessed using the MetaTrader 4 or MetaTrader 5 trading platforms.。

Alpari does not charge any extra commission other than the spread。In fact, this is one of the advantages of trading with Alpari, as spreads are actually quite low, especially for major currency pairs such as EUR / USD。In addition, Alpari offers zero fees for all deposit methods。Customer support is also excellent, because Nigeria provides 24x5 service around the clock, so you can always contact them when you need help。

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Alpari International is one of the largest Forex brands。They always strive to ensure that traders make the best trading and investment decisions。Founded on December 24, 1998, Alpari began as a small group of people looking to start financial ventures during the most economically unstable period in Russian history.。

In 20 years of experience in the Forex industry, around 2 million traders have chosen Alpari as their trading broker.。Alpari's headquarters are located on the 5th floor of Rue du Savoir 355 NEX Tower, Ebene 72201 Cyber City, Mauritius。The company is regulated by St. Vincent and the Grenadines (license number 20389 IBC 2012), Belize IFSC (license number IFSC / 60 / 301 / TS / 18)。

The broker uses MetaTrader 4 and MetaTrader 5, both of which offer great flexibility, charting tools and an easy-to-use interface。For higher volumes, the company also offers the Alpari International Direct platform with enhancements for senior investors.。

The company offers a range of real trading accounts to choose from。Each account offers different opportunities, allowing traders to trade in different ways。All accounts use USD, EUR, GBP and NGN as base currencies。But NGN accounts are only open to clients in Nigeria。

Each account has a different spread。Standard accounts have a spread of 1.2, the spread of the micro account is 1.7, the spread between ECN accounts and professional accounts is 0.4。Traders can open an account in Alpari and choose to trade currencies (major forex, minor forex, foreign currencies and rubles), spot metals, spot commodities, stock trading, spot indices and cryptocurrencies。

Traders can understand the minimum spreads, pips, swaps and trading time periods for each instrument before starting trading.。If traders are still not sure where to start, they can find out from the guide provided by Alpari on its official website。

Their trading guides are designed to break down terms and answer the most frequently asked questions by traders。Traders will soon be able to trade faster and more confidently。

In addition, Alpari offers PAMM (Percentage Allocation Management Module), which allows traders to select the ideal account manager。In this way, traders have the opportunity to make more profits without advanced forex trading knowledge。These managers typically have extensive market experience and proven strategic trading decisions。

The program also offers experienced traders the opportunity to become strategy managers。As a strategy manager, they can use their trading experience to earn more from profitable trading。They have the privilege of using the Alpari advanced program and all the tools to cultivate a large group of investors。Investors will help strategy managers earn more with commissions of up to 40%。

Their website also offers a variety of forex trading strategies。Because to increase your chances of making a profit, you must learn as much as possible about the market and the trading strategies behind it。According to Alpari, strategies provide traders with a roadmap for trading and reduce panic decisions made on the spur of the moment。In other words, trading at Alpari allows traders to learn any forex trading strategy。

For educational purposes, the company offers Trading Webinars, a variant of technology that allows users to hold seminars, talk shows and discussions online without having to meet face-to-face.。

Alpari offers a very convenient money and withdrawal experience for every trader。Traders can transfer money using any means, such as electronic payments (e.g., FasaPay, local transfers, TC Payment, etc.), credit cards (Visa, Mastercard, and Maestro), e-wallets (Neteller, Skrill, VLOAD, TC Pay Wallet, WebMoney, Perfectmoney, Bitcoin), and bank transfers。An inactivity fee of €5 / USD / GBP will be charged if there has been no trading activity in the trader's account for at least 6 months。

All back office transfers are processed during standard business hours (Monday to Friday, 03: 00 - 19: 00 GMT + 2 (GMT + 3 for daylight saving time))。If traders are still confused, the Alpari team can be contacted by any means such as online chat, Telegram or email。

9. FP Markets

FP Markets Pty Ltd is a globally recognised Forex and CFD broker that has won over 40 industry awards。The broker was established in 2008 and is regulated by ASIC.。In this broker you can trade in more than 10,000 markets covering Forex, Cryptocurrencies, Metals, Stocks, Commodities and Indices。For added security, FP Markets offers negative balance protection and uses separate accounts for client funds。

The broker supports MetaTrader 4 and MetaTrader 5。For advanced traders, FP Markets has specially prepared a commission-based IRESS account and offers a more comprehensive trading package, which is also generally more suitable for stock market trading。

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Maintaining an overnight position will not result in overnight / rollover fees reducing your income, so you don't have to worry about。FP Markets offers the lowest swap rates in the industry by introducing swap credits in the form of real-time swap rate listings on the MT4 and MT5 platforms。For example:

ACWI: long position is -5.00, the short position is -2.50。ADA ADA / USD USD: long position of -20.00, with a short position of -20.00。AGG: long position is -5.00, the short position is -2.50。

10. FBS

FBS is regulated by the Belize IFSC and FSCA as a well-regulated global CFD broker offering trading in a variety of assets including Forex, Metals, Indices, Equities, Energy and more than 35 cryptocurrencies in volume compared to other brokers.。

FBS provides full support for MetaTrader 4 and MetaTrader 5 trading platforms and their proprietary FBS Trader application。In addition, the broker offers a documentary trading platform and free FBS services for clients who meet certain requirements.。

There are multiple account types to choose from to meet the needs of all traders with different levels of expertise。In addition, transaction costs are relatively low compared to other ECN brokers。The spread can be fixed at 3 points (EUR / USD) or floated at 0.8 points (EUR / USD) and 0.1 point (EUR / USD) depending on account type。In addition, customer service is fast and responsive; deposit and withdrawal methods are also diverse, and customers can choose the payment method that best suits their situation。

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Since 2009, FBS Holding Inc.(FBS) achievements in the field of foreign exchange transactions have been recognized by various international institutions.。As of 2019, the number of FBS clients reached 14 million, winning the most transparent Forex broker in 2018, the best investor education in 2017, the best customer service broker in Asia in 2016, the IB Forex program and many other titles.。

FBS is regulated by Belize IFSC and Cyprus CySEC。The broker is trusted by millions of traders and 370,000 partners from all countries.。According to the data, FBS has about 7,000 new trader and partner accounts every day.。And, 80% of customers will stay in FBS for a long time。

Trading products offered by FBS include Forex, CFD, Precious Metals and Equities。For Forex trading, CySEC-regulated FBS provides leverage of up to 1: 30 for cent accounts and standard accounts。Customers who want to try higher leverage can also register an account with FBS Belize。

In all types of accounts, the spread is from 1 point。Volume orders in standard accounts can be 0.01 to 500 lots, it is recommended that experienced traders use the account。

And on the cent account, bulk orders can be executed up to $500 breakups or the equivalent of 5 standard lots.。Cent accounts involve varying degrees of risk。FBS recommends cent accounts to beginners。All account types support the following trading instruments: 28 currency pairs and 2 metals。

Before entering the real Forex market, traders can practice using the FBS demo account, which is divided into two types, namely standard account and cent account。

Using the MetaTrader 4 and MetaTrader 5 platforms, FBS provides services on Windows and Mac, as well as Android and iOS mobile devices, providing traders with a trading experience at their fingertips, allowing traders to trade anytime, anywhere。

The MetaTrader platform also has a variety of key features, including the creation, purchase and use of Expert Advisors (EA) and scripts, one-click trading and embedded news, technical analysis tools, documentary other traders, hedging positions and VPS service support。

Another advantage of FBS is that customers who meet specific requirements receive a 100% deposit bonus and the deposit and withdrawal process is fast and convenient.。According to the customer, in addition to holidays, usually no more than 3-4 hours。

In order to increase the security of client funds, FBS also offers segregated accounts where 70 per cent of funds can be deposited with the client's bank; in addition, the margin is between 10 and 100 per cent.。If the trader loses funds in the course of trading but is insured, FBS will refund the trader's funds。

Traders have the opportunity to develop a side business when trading with FBS, i.e. as an economically recommended (IB) or affiliate。The commission provided by the FBS partner system is already at level 3, and traders can only earn additional income if they introduce new customers to FBS according to certain procedures。

Traders will also gain trading education experience at FBS。They have prepared a comprehensive foreign exchange course divided into 4 levels: beginner, beginner, intermediate and advanced。Traders can take courses that transform them from novice to professional, all materials are well structured。In addition, FBS offers a variety of forex analysis, webinars, forex news and daily market analysis that can be easily accessed on its website。

Traders can visit the official FBS website, which is available in multiple languages, including English, Dutch, Italian, French, Portuguese, Indonesian, Spanish, etc., and also provides live chat support 24 hours a day, 7 days a week。

In summary, FBS is a well-known broker among global retail traders。Due to flexible trading conditions, customers are able to use a variety of instruments for trading, low deposits, etc.。

Conclusion

In Nigeria, a fast-growing country, the choice of broker is crucial in Forex trading。If you are a Nigerian trader, the first thing you need to confirm is the safety and legality of the broker, which must be registered and well regulated by at least one of the top regulators (e.g. FCA, ASIC, CySEC or FSCA).。