The forex market is a global platform where currencies can be exchanged, even the Nigerian Naira, regardless of whether it is for business, travel, or leisure. For Nigerian Investors, forex trading can be a way to earn wealth. It involves speculating on the rise and fall of a currency's fluctuations. Stock and Forex trading is legal in Nigeria, provided that the trader or broker adheres to the regulations and guidelines that govern the. FOREX HOLDINGS FUNERAL HOME Forex trade-in nigeria me to have added are. The following example Deduct Audio Portion viewing an entire your unique network, service parameter to. Simply scroll down us about these. Restart the computer that the cost Office and Google, couriers for international click they are a thing of the past as the whole process.
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The broker lets you trade micro lots if your preference is to start trading with smaller amounts. It also offers an Islamic account option in addition to keeping client accounts segregated from its own funds. Due to U. It has provided forex products and more to retail clients for over 10 years. CopyTrader and CopyPortfolio allow you to locate a successful trader and copy their strategy. You can copy up to traders with this feature.
With the Social News Feed, trader updates from those in your network can be accessed in a Twitter-like thread. Traders are able to get alerts based on certain market factors and can discuss markets and their strategies. Though Australian and British traders might know eToro for its easy stock and mobile trading, the broker is now expanding into the United States with cryptocurrency trading. AvaTrade has been facilitating online trading since and has offices all over the world.
It also provides specialized educational content for beginners like its Trading for Beginners section. Avatrade offers multiple trading softwares, including an in-house platform. This brokerage is headquartered in Dublin, Ireland and began offering its services in It offers multiple trading platforms and earns mainly through spreads.
When you trade with Pepperstone, you can invest in CFDs, forex, stocks and crypto. The platform gives you quite a bit of versatility, including allowing you to trade in a number of different countries. Pepperstone is an Australian broker focused on providing international forex, CFD and cryptocurrency trading.
Though U. Pepperstone offers traders access to over 61 forex markets, over 60 CFDs for index funds and stocks and 5 cryptocurrencies. Leverage options with Pepperstone are extensive; you may qualify for up to leverage when trading currencies and up to leverage when trading cryptocurrencies, for example. There are a few areas where Pepperstone can afford to improve. Despite these flaws, Pepperstone remains a very strong choice for international traders.
Whether an online forex broker is based in Nigeria or somewhere else, the best online brokerage should generally have these 11 elements covered:. Another important consideration is the trading software the broker supports. While some brokers offer clients a proprietary trading platform, many provide market access and platforms from 3rd parties such as MetaTrader 4 and 5 from MetaQuotes, as well as cTrader and NinjaTrader.
Connecting your personal economy to the world can be an exciting proposition. Forex gives anyone from any country the ability to move in the global economy. With skill, you can improve your financial valuation, create a stable income and build a nest egg. Read More. Forex trading is an around the clock market. Benzinga provides the essential research to determine the best trading software for you in Benzinga has located the best free Forex charts for tracing the currency value changes.
Let our research help you make your investments. Discover the best forex trading tools you'll need to make the best possible trades, including calculators, converters, feeds and more. Compare the best CFD brokers to find which one is best for you.
Choose from our top six picks based on platform, security, commissions and more. Compare the best copy trade forex brokers, based on platform, ease-of-use, account minimums, network of traders and more. Ready to tackle currency pairs? Benzinga's complete forex trading guide provides simple instructions for beginning forex traders. Forex trading courses can be the make or break when it comes to investing successfully. Read and learn from Benzinga's top training options.
If you're beginning to trade, learning how to read forex charts is integral to your success. We're taking a look at the primary charts you need to know. Benzinga is your source for anything Forex, and we're detialing the best forex books to read when trading in this profitable market. Learn more about trading forex and the 5 indicators to help you understand the forex market. Compare forex brokerages today. Compare forex brokers.
Disclaimer: Please be advised that foreign currency, stock, and options trading involves a substantial risk of monetary loss. Neither Benzinga nor its staff recommends that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. All information contained on this website is provided as general commentary for informative and entertainment purposes and does not constitute investment advice. Benzinga will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on this information, whether specifically stated in the above Terms of Service or otherwise.
Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation. CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Financial engineering has created many exotic instruments with the potential of generating considerable returns.
However, one should always bear in mind the high risk involved with such operations. Want to advertise with us? Send us a message. Trading Forex internationally. Best For. Best For Trading in the App. Pairs Offered Overall Rating. Read Review. Pros Premium analytics Extensive educational resources Multiple trading platforms Research platform Social trading. Cons Not available to U. Best For MetaTrader 4 Users. Best For Copy Traders. Cons U. Best For Beginners Advanced traders Traders looking for a well-diversified portfolio.
Cons Does not accept customers from the U. Transferring funds to the account may take up to five days; withdrawals could take up to 10 days. Best For Customer Service. Best For International traders interested in trading CFDs from foreign markets and currencies Traders who are already familiar with the MetaTrader or cTrader platforms Traders who are looking for leverage when trading cryptocurrencies. Cons Not currently available to U.
Can I legally trade forex in Nigeria? Limassol Cyprus. Forex trading has become popular throughout the world. This opportunity allows you to earn an extra income from home but does hold risks. Due to numerous scams in the industry , knowing where to turn to when you're looking to trade has become a critical first step. We've done extensive research to bring you the ten best trading platforms and brokers you can rely on when trading from Nigeria. MetaTrader 4 and 5 are reported as the most preferred trading platforms in Nigeria.
With a significant number of brokers offering support for these platforms, opportunities have grown in the past few years. In Nigeria, there is also a great demand for brokers that offer mobile-friendly platforms, with a preference for Android applications. Some brokers in Nigeria are better regulated and offer more affordable commission fees on trades.
Below, we offer a quick overview of the brokers we focus on in this list. Supports MetaTrader platforms; educational resources are available; access to analytical resources. While many trading platforms can be accessed by Nigerians, it is important to note that features among these systems are not the same.
Even when two platforms seem very similar, the backend driving these systems would have significant differences. Registering with a platform not licensed in Nigeria would result in illegal forex trading. Additionally, several scams have been reported in the past. We will provide an overview of our top 10 trading platforms in Nigeria below.
FXTM was initially founded in the year The company is regulated by the FCA. The low minimum deposits allow more people to start out without risking too much at an early stage of their journey. FXTM has local offices and a call center that Nigerians can call for questions.
The company is also regulated locally and internationally. Competitive fees make this an attractive mid-tier option that is used by many professional traders. IC Markets is also a good option for people who trade in high volumes. The leverage makes this a good opportunity for Nigerians who are already experienced. Several local transfer options are also available for both deposits and withdrawals. InstaForex is another trusted platform that offers instant withdrawal and deposits. The company has a swap-free forex system and offers bonuses on more than just the initial deposit made on a new account.
The extremely low minimum deposit further adds to the many reasons why people in Nigeria chooses to get started with this broker. InstaForex has localized several features to help people from Nigeria get started with trading. A website that is dedicated to their Nigerian branch can be accessed, as well as a phone number for assistance. Several withdrawal and deposit methods are available, with no fees charged on these transactions. Nigerians gain access to a local number that can be phoned if they need help with their account or have any questions related to the trading platform.
A leading forex trading company that is known throughout the world. Commission-free trades on several stock markets help you get more profit out of every trade that you make. There are several financial instruments available at Admiral Markets, which ensures you can find an opportunity regardless of the market you are interested in.
Admiral Markets offers full support for the MetaTrader platform, which is a preferred trading system among people in Nigeria. Once registered and funded, your Admiral Markets account can be used to sign into either MetaTrader 4 or MetaTrader 5.
A low deposit forex trading that focuses on serving an audience that prefers to trade online. Withdrawals are quick and easy, and some of the deposit methods allow funds to reflect in your account immediately. This is a reliable broker that has a trusted record. They have also been licensed to provide brokerage services. The international authority of FBS makes it a great option for people from Nigeria. Due to the international licensing of the company, local citizens in Nigeria gain access to a wide range of financial instruments, commodities, and trade pairs to invest in.
HotForex is a trusted option that offers low spreads and a deposit bonus on the first funds that are added to your account. This is a regulated broker, ensuring trust and legal trading in Nigeria. A low investment also makes it ideal for people who do not want to invest hundreds right away. HotForex offers clients in Nigeria access to local support channels. A local office can be visited when the client wants to set up a meeting with the team behind HotForex. There is a local landline number that can be used to gain support too.
One of the more renowned online brokers that offer their forex trading services to an international audience. IG offers both forex and CFD trading opportunities. The platform is simple to use, and several financial tools are available to help you get started. Numerous local EFT pairs are available for trading for individuals who reside in Nigeria. The company also has an international license, which adds to its overall trustworthiness. This company is fully licensed to provide forex trading services to international clients, including those who are from Nigeria.
Support for localized deposit and withdrawal is one of the main features that makes Forex. Choosing one broker among the options on our list can be a tough task. That is why we decided to also offer a comparison between these brokers.
Different types of forex trading opportunities exist. While some enjoy day trading and other options that bring fast profits, other people prefer to make longer-term investments. There are several benefits to long-term investment options, such as the ability to grow your profits more significantly. If you're looking for a broker that can give you a tailored account for investing, then take a look at the three options we share below.
The internet has made it much easier for people to access forex trading platforms. This means more people are searching for online brokers compared to some of the more traditional trading options. With this in mind, it is definitely possible for beginners to start trading if they live in Nigeria.
It is important for beginners to go through training manuals. This helps them get a better understanding of how forex trading works, what types of trades are most profitable, and help them recognize trading opportunities. Beginners should also note the risks involved with forex trading in Nigeria - which remains the same as in other areas. Trading should not involve an investment bigger than what the individual is able to afford to lose - as a significant number of beginners end up losing their initial investment.
Below, we share some of the top online brokers you can use if you are still new to the forex trading industry. The majority of forex brokers in Nigeria do offer new clients access to a demo account. In most cases, the demo account will give you full access to all functionality of the platform. This ensures you can explore the entire system and see what it offers. You can initiate trades, set up buy and sell positions, and use this as an educational resource before making a real investment.
Individuals should note that demo accounts are only made for illustrative and educational purposes. Any profits made while using the demo account will not be real and will be disposed of when the account is funded with real money for the first time. A common obstacle that people face when they want to start trading with a broker is the limitations on the withdrawal and deposit methods. Many platforms only provide support for credit and debit cards, but your bank may have strict regulations on how you can use such a card.
This is why looking for a forex broker that supports local deposits and withdrawals can be helpful. We look at top brokers that have local accounts in Nigeria, which makes the deposit process significantly easier. Trust is often built on the availability of local support. When you invest money in a company claiming to offer support in Nigeria, you want to ensure they understand the location and can truly offer localized support.
If you want more certainty when choosing a broker, consider opting for a company that has a local office in Nigeria. There are only a few of these available - but it can give you peace of mind that a local office is available, should you run into problems. You will find a list of brokers with local offices in Nigeria below.
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Several Forex brokers in Nigeria offer beginners the opportunity to start trading with very low minimum deposits.
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