Forextime or FXTM is the best forex broker in Nigeria. One of the obvious advantages compared to the main competitors is the presence of an office in Nigeria To choose a good forex broker we will search only brokers that meet all the following requirements: • The broker accepts customers from Nigeria • The website of the company is available in English • The broker offers support in English • It has trading platforms for any type of device, from desktop computers to cell phones 3/29/ · HotForex is our highest rated forex broker that we recommend for traders in Nigeria. They are a forex and CFD broker, that is regulated with multiple global regulators, so trading with them is considered safe. Nigerian clients at HotForex are registered under SVGFSA regulation with HF Markets (SV) Ltd
Best Forex Brokers With Offices in Nigeria
To help Nigerian forex traders choose a broker, we compared the fees and forex trading platforms to find the best forex brokers in Forex brokers with offices in nigeria. With over 20 years investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years forex brokers with offices in nigeria for several of the largest banks globally.
He has an Honours in Commerce and Masters degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. All fx trading platforms are available as desktop, webtrader, and mobile app platforms. Each option comes with a free demo account that allows Nigerian traders to test out forex brokers and platforms for 30 days.
There are also platform enhancements available for Pepperstone traders, including MetaTrader 4 smart trader tools, cTrader Automate, Autochartist, and API trading. These third-party tools give traders the edge on the most popular forex trading platforms. Pepperstone is the best forex broker in Nigeria, not just for their platforms but also their fees. There are two forex accounts available. The first is the standard account, which has no commissions but slightly higher spreads, which is how the forex broker makes its money.
The second is the Razor account often called an ECN forex account where the spreads are primarily determined by the market not the fx broker. Instead, the forex broker makes its money from commissions.
Overall, the Razor account has some of the tightest spreads of any forex broker worldwide. If you are new to trading forex and want a no commission account type to keep things simple, Pepperstone is a great option with tight spreads. Data taken from broker website. Compare Standard Account Spreads. The Razor Account was designed with scalpers and algorithmic traders in mind, offering tight ECN style spreads plus low commission fees. With straight-through processing and no dealing desk execution, Pepperstone provides an institutional-grade trading environment for experienced traders.
As you can see from the spread comparison below, Pepperstone is ultra-competitive across most major forex pairs. With ECN style accounts, forex brokers make money from commissions that apply to the Razor account.
If you choose cTrader the commission is 7 unit charges per lot based on the base currency. The final way forex brokers make money is through deposit and withdrawal fees. There are no such fees for Pepperstone. Below shows the overall costs for different brokers with our exclusive forex brokerage calculator.
Pepperstone is the most awarded CFD provider in customer service. This includes investment trends that survey actual forex traders to gauge their performance. Pepperstone customer support ranges from global forex brokers with offices in nigeria centres, live chat, and e-mail.
Pepperstone is regulated by the two most credible regulators:. Pepperstone is also receiving regulatory approval from the Financial Services Conduct Authority of South Africa. AvaTrade is a broker that only offers fixed spreads, forex brokers with offices in nigeria. This can make AvaTrade a good choice for scalpers, as spreads are predictable and for traders wanting a level of protection in a volatile market.
AvaTrade is a multi-regulated broker that offers tight fixed spreads on a range of currency pairs and CFDs. As a market maker broker, AvaTrade uses internal liquidity pools and a dealing desk to execute orders.
While AvaTrade charges no commission fees, there forex brokers with offices in nigeria general trading and account costs that customers may incur. For instance, if you hold a forex and CFD forex brokers with offices in nigeria open for longer than one day you will pay or receive overnight financing fees, also known as swap rates. With this feature, you can buy time to decide if you wish to reverse your trade. This feature can be handy in the event price movement goes against you for a set amount of time after your trade.
Besides AvaProtect, all AvaTrade clients will get negative balance protection. AvaTrade also offers a mobile app specifically designed for options trading.
Options trading can be complicated and many standard CFD trading platforms lack design features that forex brokers with offices in nigeria you to truly make the most of the potential with options trading. Although the broker only offers one main forex and CFD trading account as all spreads are fixed and commission-free, AvaTrade caters to Islamic traders by offering a swap-free account type.
Islamic Accounts are designed for traders that follow Sharia law where you cannot earn or receive interest. Rather than interest rate-based payments, Islamic traders pay a flat-rate daily administration fee for forex positions held open overnight. There are certain CFD products Islamic Account holders cannot trade, including cryptocurrencies and forex pairs that include the ZAR, forex brokers with offices in nigeria, RUB, MXN or TRY.
IC Markets is based in Australia ASIC regulated and offers the lowest brokerage fees, including:. The table below compares IC Markets to other major forex brokers in Nigeria for average spreads. Across many currency pairs, IC Markets has the lowest spreads. They also were awarded in with the best forex Islamic account.
IC Markets have no charges on any account deposits or withdrawals to any forex account. Any fees that may be charged will be from the local bank if an international bank transfer is chosen. Below shows the funding methods available with IC Markets. FP Markets is a top ECN broker offering STP trading with tight spreads and fast execution speeds.
Regardless of the account type or trading platform you choose, you can enjoy excellent trading conditions with low spreads and fast trade execution. The no dealing desk broker executes your orders using straight-through processing STP and multiple liquidity providers. The broker is popular among the Nigerian forex trading community as it is overseen by multiple top-tier financial authorities.
Overall, FP Markets is a great option for Nigerian traders wanting a trusted STP broker. With STP order execution, the broker can offer ultra-tight ECN spreads via its raw account, or low no commission spreads through its standard account.
Both account types enjoy excellent trading conditions with fast execution speeds on MetaTrader 4 or MetaTrader 5. ForexTime offers two NGN account funding methods through bank wire transfer or Neteller.
This allows individuals to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency like the GBP, USD or EUR.
ForexTime offer social trading copy trading which means a trader:. ForexTime also offers local seminars in Nigerian locations such as Port Harcourt. This is run by industry experts and complements the forex trading eg webinars offered on the website, forex brokers with offices in nigeria. ForexTime is ideal for Nigerian traders new to CFDs with a higher risk profile. With the highest leverage of any Nigeria fx broker of 1, detailed training and social trading options, they are ideal for time-poor traders who want to test CFDs financial markets, forex brokers with offices in nigeria.
FXTM proves itself to be a reliable broker because of the amount of global regulatory licenses that they hold:. HotForex is a good choice if you are looking for a broker that offers high leverage as they offer leverage ofwhich is higher than most other brokers will permit, forex brokers with offices in nigeria.
The key features of HotForex include:. While most brokers offer a maximum of and in Europe leverage when trading, HotForex allows trading with with their Micro account. HotForex offers a choice of 5 trading accounts. Most retail traders will want the Micro, Premium or Zero Spread account, as these are built for traders that plan to manage their own trading activities.
Each of these accounts can be summarised as:. HotForex also offers two unique accounts. These are designed for a trader that wish to use trading automation or copy trading.
HF Forex has a large range of bonus offers, which means extra cash to trade with. HotForex offers include the following:. Visit HotForex. Nigeria has the largest population of Muslims in West Africa, so it makes sense we should mention a trading broker that offers trading account complaints with sharia law. Key offerings of NovaFX include:.
If you are an Islamic trader and need to comply with Sharia law, then NovaFX has an account that does not charge swaps or interest for active positions held overnight. This means there are no overnight or rolling fees which are sharia law does forex brokers with offices in nigeria permit. GBPUSD will cost you 4, forex brokers with offices in nigeria. This account has a flat fee for every 3 days you keep an open position.
This fee is applied on a weekly basis. NovaFX offers a choice of 3 trading platforms. These are MetaTrader 4, MetaTrader 5 and cTrader. While the MetaTrader platform is going to be the most likely choice as these are the most popular trading platforms worldwide, cTrader is a worthwhile platform to consider. While cTrader is available with several other brokers, one feature that NovaFX offers few other cTrader brokers offer is cTrader Copy.
This feature allows you to follow and copy the trades of other brokers by using the signals they provide. NovaFX offers a choice of 3 trading accounts. These are MT4 Micro Account, MT5 Pro Account and cTrader ECN account.
The MT4 Micro account is a good choice if you desire an account with a low minimum deposit, no commissions, and want to trade small amounts. One benefit of this account is that you can choose between floating and fixed spreads. Fixed spreads can be a good choice if you are not an experienced trader or when the market climate is volatile, forex brokers with offices in nigeria.
Unlike variable spread, which can change dramatically in extreme events, fixed friends remain stable which gives you an element of protection when things go bad.
Best Forex Brokers In Nigeria 2022 (TOP 10)
, time: 6:0310 Best Forex Brokers in Nigeria ☑️ (Updated July* )
The six best forex brokers in Nigeria for are: # 1 — Hotforex Hotforex has the best forex trading platform in Nigeria based on the latest research. This is another low-cost forex broker for Nigeria. The platform is % safe and reliable. Kindly note that Hotforex is associated with various regulatory authorities like FSCA, FCA, and CySec 7/8/ · Founded in , Pepperstone is a known reputed forex brokers Nigeria that has a global online presence when dealing with foreign exchange. Being the most prominent broker, it provides CFDs with margin, tight spreads, and social trading around the world 5/22/ · List of 8 Best Regulated Forex brokers in Nigeria for FXTM – Best Forex Broker in Nigeria Hotforex – Best Regulated forex broker OctaFX – Best Low spread forex broker with commission free local deposits & withdrawals XM – Forex Broker with Fast Order Execution Exness – Low Minimum deposit & spread as low as 0 pipsEstimated Reading Time: 8 mins
No comments:
Post a Comment