Forex trading is quite popular in African countries like Nigeria, here are some of the best low spread brokers in Nigeria。

Online forex trading has become one of the most popular ways to invest, mainly due to its high inclusivity, high liquidity and low start-up capital.。Thanks to the increasing globalization of foreign exchange trading, traders from all over the world can participate in the market, providing great opportunities for developing countries such as Nigeria.。

Although foreign exchange trading has not been developed in Nigeria for a long time, it is very popular locally, especially among people with a financial background.。There will be at least 300,000 retail traders in Nigeria by 2021, and the number is still increasing.。Many brokers have also expanded into Nigeria and other African countries, allowing everyone in the region to enter the market and trade anywhere through online trading platforms.。

The foreign exchange market is monitored by the Central Bank of Nigeria。However, the absence of an official body to regulate online brokerage in Nigeria has led to a proliferation of international brokers offering services in the Nigerian market, with any broker with an international licence becoming a trusted entity for traders in the country.。

Several factors need to be considered when comparing brokers。If you want to minimize transaction costs, it is highly recommended to choose a broker that provides low spreads。Spreads vary by broker and may widen or narrow depending on market conditions。Spreads can widen sharply when volatility is high (usually before major economic or political news releases, such as the Brexit referendum or US elections) or when applied to emerging market currency pairs such as USD / THB or USD / SGD。Conversely, when liquidity is high and volatility is low (usually in major currency pairs in large foreign exchange trading sessions), spreads are usually low。

Considering the importance of the spread, the criteria of the relevant broker offered to you are as follows:

• Regulated in at least 1 financial jurisdiction。
  Offers low spreads (minimum spread below 1 point for EUR / USD)。
  Allow deposits in NGN (Nigerian Naira)。
  Allow NGN-based accounts。
  Bonuses for Nigerian Traders。

Exness

Exness is a CFD broker founded in 2008 and has quickly become one of the world's leading brokers, with over 200,000 clients worldwide and offices in a number of countries, including Cyprus, the United Kingdom, Seychelles, South Africa and Kenya.。Exness is regulated by some of the top financial institutions and rated as a low-risk, reliable forex and CFD trading broker。

In terms of transaction costs, Exness offers the lowest spreads in the industry, divided into fixed spreads and variable spreads, depending on the trading account you use。

Below are the details of Exness services for Nigerian traders:

Broker	Exness
Regulators	FSA, CBCS, FSC BVI, FSCA, CySEC, FCA
Minimum EUR / USD spread	0.From 0 o'clock
NGN-based accounts	(except Standard Cent accounts)
Allow NGN deposits	✅
💰Bonuses for Nigerian Traders	✅

HF Markets

Founded in 2010, HF Markets or HotForex is a fully regulated broker with operations in more than 100 countries around the world, including Nigeria.。HFM has a wide range of account types designed to meet the needs of all types of traders with high leverage and low minimum deposits。On top of that, the broker provides a lean customer support team, 24 / 7 service, and excellent market analysis capabilities。

Following are the details of the services offered by HF Markets for Nigerian traders:

Broker	HF Markets
Regulators	FSCA, CySEC, DFSA, FSA, FCA, CMA
Minimum EUR / USD spread	0.From 0 o'clock
NGN-based accounts	(South African Rand / USD as well)
Allow NGN deposits	✅
Nigerian Trader Bonuses	✅

Admirals

Admirals is a trusted broker that has been meeting client needs since 2001 with offices in the UK, Cyprus, Estonia and Australia.。The broker provides high-quality tradable assets through a transparent pricing and execution system, and is equipped with a comprehensive and easy-to-operate trading platform for all customers around the world。

Here are the details of the services provided by Admirals for Nigerian traders:

Broker	Admirals
Regulators	FCA, ASIC, CySEC, EFSA, JSC
Minimum EUR / USD spread	0.From 0 o'clock
NGN-based accounts	❌
Allow NGN deposits	✅
Nigerian Trader Bonuses	✅

Pepperstone

Pepperstone is a multi-asset global broker founded in 2010, this award-winning broker offers a variety of trading conditions to meet the needs of its clients, including the lowest spreads in the market and low commissions.。Traders can also choose between several top trading platforms and a wide range of trading tools offered by the broker。

Here are the details of Pepperstone's services for Nigerian traders:

Broker	Pepperstone
Regulators	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Minimum EUR / USD spread	Razor Account 0.From 0 o'clock
NGN-based accounts	❌
Allow NGN deposits	❌
Nigerian Trader Bonuses	✅

Global GT

Global GT was founded in 2020 and is headquartered in South Africa.。Although established for a short period of time, it is fully regulated and provides various innovative solutions for Nigerian traders.。Customers have easy access to extensive financial markets, educational resources and 24 / 7 customer support。In addition, the broker also supports the MT5 trading platform for desktop, web and mobile trading.。

Below are the details of Global GT's services for Nigerian traders:

Broker	Global GT
Regulators	FSCA、FSA
Minimum EUR / USD spread	ECN Account 0.From 0 o'clock
NGN-based accounts	❌
Allow NGN deposits	✅
Nigerian Trader Bonuses	✅

Conclusion

In Forex trading, a low spread broker is always a good choice.。There are many low spread brokers in Nigeria that allow you to minimize transaction costs and achieve higher profits。Low spreads are particularly beneficial for scalpers who will open multiple positions in one day.。However, in addition to spreads, you also need to consider other aspects such as regulations to make it easier to manage your account。