Forex trading is very popular in Nigeria today. In times past, there were no Forex brokers here. These days however, many of the foreign forex brokers have now established branches in Nigeria.
The information here will enlighten you about the top 10 forex brokers operating in Nigeria. One unique thing about most of them is that they allow Nigerians to make deposit in naira.
You can also view a list of overseas forex broker for Nigerian traders.
Avatrade
They originate from Ireland and they are regulated by the Central Bank of Ireland, BVI, ASiC and MiFID. They offer 400:1 leverage and you can start trading with a minimum deposit of $100.
They make various platforms available to their clients, like MetaTrader4, ACT and so on. Their website is at www.avatrade.com. Their clients can open both real and demo trading accounts.
Youtrade FX
They are regulated by ASIC, FSC and FSA UK. They operate on MetaTrader 5 platform. They offer 500:1 leverage and you can start trading with a minimum deposit of $100. Their website is at www.ytfx.com. Their clients can open both real and demo trading accounts.
Plus500
They are regulated by ASIC and Financial Conduct Authority. You can open trading account with share up to 1:20. Their registered traders can trade on their Plus500 Trading Platform.
The minimum deposit is 100 Euro. They allow their registered traders to open both real and demo trading accounts. Their website is at www.plus500.com.
Sunbird
You can open trading account with this broker with leverage of 100:1. They are regulated by BaFin, CySEC and FSA. You can trade both on their MetaTrader 5 and MetaTrader 4 trading platforms.
Minimum deposit into live trading account is $100. Their website is www.sunbirdfx.com. Their clients can open both real and demo trading accounts.
Easy Forex
They are regulated by CySEC, CFTC and ASIC. Their trading platforms are Trade Desk and Web Trading. You can open trading account with a leverage of 400:1. Minimum account balance is $25. Their website is at www.easy-forex.com. Their clients can open both real and demo trading accounts.
Admiral Markets
They make various trading platforms available, like Admiral Markets Web and MetaTrader 4. They are regulated by FSA and MiFID. Their leverage is 500:1 and the minimum trading deposit is $10. Their website is at https://tr.admiralmarkets.com. Their clients can open both real and demo trading accounts.
DuPont
This broker is not regulated. They however make SirixWeb and MetaTrader 4 trading platforms available to their registered traders. They offer leverage of 1:200. Minimum trading deposit is $100.
Their website is at www.dupontfx.com. Their clients can open both real and demo trading accounts.
ECMARKETS
They are regulated by MiFID and CySEC. Their trading platforms include EC Trader Lite, EC Mobile Trader and MetaTrader 4. They offer 200:1 leverage and their minimum trading deposit is $100. Their website is at www.ecmarkets.com. Their clients can open both real and demo trading accounts.
Caesar Trade
They only provide MetaTrader 5 platform for their clients. They offer leverage of 1 pip and minimum trading deposit on their trading platform is $10. Their website is at www.caesarpartners.com. Their clients can open both real and demo trading accounts.
Markets.com
They offer both Market Trader and MetaTrader 4 platforms for their clients. They are regulated by FSA, MiFID and CySEC. They offer leverage of 200:1 and their minimum trading deposit is $100. They allow their traders to open both demo and real accounts. Their website is at www.markets.com.