24/10/ · Trading – Best Trading Platform in Nigeria for Long-Term Investments; Skilling – Best Broker in Nigeria for Mobile Trading; IG – Best Trading Platform in Nigeria for Forex; Pepperstone – Best Broker in We have selected the 6 best forex trading platforms in Nigeria after a comprehensive analysis and comparison of 25+ forex brokers in Nigeria. More than 12 factors have been considered 18/4/ · 5 Best Forex Trading platforms in Nigeria. Here’s our list of best forex trading platforms for traders in Nigeria: HotForex – Overall Best Forex Trading platform; Avatrade – 28/7/ · Best Forex Trading Platforms. Which is the Best Forex Trading Platform? MetaTrader 4; MetaTrader 5; cTrader; Proprietary (Broker-owned) Platforms. eToro Best Forex No Deposit Bonus in Nigeria. Overall, XM offers the best forex no deposit bonus for Nigerian Traders. XM offers a welcome bonus of 50% DEPOSIT BONUS UP TO $ and ... read more
Choose a broker that offers trading platforms compatible across devices, like mobile and tablet, and also desktop, so you can trade on the go or remotely with ease. You may suddenly need to open or close your orders, even when you are not in-front of your trading screen, so a broker that offers platform with mobile interface would allow you to do just that. A good platform will offer you the ability to place multi order types.
The most common orders that you may need to place in the market are Market orders, Limit Entry orders, Stop Entry orders, Stop Loss orders, Trailing Stop, One-Triggers-the-Other and many more. For advanced traders, availability of multiple order types should be a very important requirements. So it is even more important for traders to only go for a platform that allows placing all various different types of orders.
Orders should be placed quickly and the trading platform should have a good past record for managing re-quotes with minimal downtime.
Any delay in your order execution can be a difference between a profitable trade or a loss. Does your trading platform offer wide charting tools like trendlines, moving averages, EAs, ability to add technical indicators, and more?
A good trading platform should offer easy access to many technical tools for analyzing the financial instruments and markets. The platform should also have a multitude of features and functionalities, ranging across browsing charts simultaneously, changing chart types, scheduling and automatic transaction execution, analysis tools and news updates. Notifications, alerts, analytical objects, technical indicators, and charting tools should be up to the mark. Even if you are not to fundamental trader, you still cannot ignore the news.
For this reason, news and educational updates on the platform can offer valuable market intelligence for all traders. Advanced and intermediate traders can benefit from news updates which offer actionable insights before placing any trade. Moreover, updates on training and free video tutorials in a platform, FAQs and multilingual support are good bonus for beginner traders.
These offer a good opportunity to get well acquainted with trading tools and build your expertise or further hone your trading skills. On each trade executed, you will be charged a fixed or a variable spread by the broker. Moreover, be sure to check out if there are any commissions and hidden charges for using the platform. Although platforms at most brokers are free, some brokers may even charge extra fees for using their platform, and they may also charge extra fees during inactivity.
The trading platform is one of the most important considerations you need to take into account while searching for the right FX broker in Nigeria.
The platform should have an easily usable with symbols like currencies and analysis on different time frames. Technical indicators should be readily accessible. Exceptional forex trading platforms should have accurate forex quotes and reliable trade execution. good order placement, management of accounts, technical and fundamental analysis tools, strong data security and minimize system downtime. So it is best to choose a broker that offers Metatrader platforms.
Any forex broker that is well-regulated with multiple top-tier regulations, has low fees, MetaTrader platform, easy withdrawals are considered good. Beginners should consider platform of a broker that is regulated with one or more Top-tier regulations. This makes it a safe platform for traders, and you can be assured that your trading funds are protected.
The the trading platforms in our list are considered low to moderate risk brokers. Trading with low capital would normally mean that you decide to use very high leverage, and put much of your money at risk.
NG is an Investment Comparison website with an aim to help Investors in Nigeria find the best forex brokers. Read More. Read full risk disclaimer.. NG: Your Guide to Forex Trading in Nigeria. All Rights Reserved, Best Forex Trading Platforms in Nigeria Leverage: Trading Instruments: Forex, Cryptocurrencies, CFDs on Shares Ranks 1 Forex platform in Nigeria.
But the fees with competitive with ECN accounts. Leverage: Trading Instruments: Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals Ranks 2 Forex platform in Nigeria. Cons We did not find any cons with their platform so far for now. We will update it once we find something new. Overall Rating 8. Leverage: variable based on account type Trading Instruments: 28 currency pairs, 3 Cryptocurrencies, CFDs on Indices, metals Ranks 3 Forex platform in Nigeria.
OctaFX is one of the very few forex brokers that offers Metatrader as well as cTrader. You can open trading account in USD or EUR currency only. Leverage: Trading Instruments: Forex, CFDs on Stock Indices, precious metals Ranked 5 Forex platform in Nigeria. Pros Metatrader 4 for multiple devices including web, desktop, and mobile. Tickmill has No dealing desk platform, so their is no conflict of interest with their clients, and orders are placed directly with their liquidity providers.
Their platform supports mutiple charts, order types, and EAs for automated trading. Forex trading available on 62 currency pairs.
Very few trading instruments other than forex. Their CFD trading options for stock indices, and metals are limited.
Leverage: Trading Instruments: 46 Forex pairs, Cryptocurrency, CFDs on Indices Ranks 6 Forex platform in Nigeria. They also have a PAMM account for investors, and an app where you can keep track.
They also have their own mobile app. And very low spread for most currency pairs. Alpari has their own app for PAMM account investors. This will, however, attract higher spreads starting from 1 pip. Either way, you will have access to liquid marketplaces at Pepperstone. This covers a great variety of stocks, indices, currencies, hard metals, and energies.
When it comes to trading platforms, Pepperstone is compatible with cTrader, MT4, and MT5. Once again, these platforms are great for experienced pros and those looking to deploy a robot. Although Pepperstone is arguably more geared towards professional traders — the platform does not have a minimum deposit policy in place. This means that you can trade with any amount that you like. Plus, Pepperstone also offers demo trading facilities.
All you need to do to gain access is open an account with Pepperstone and then log into your chosen third-party trading platform. Finally, Pepperstone is heavily regulated — which includes a license with the FCA. Launched in , FXCM is a trusted online broker that covers forex and CFD trading services. Regarding the latter, this is inclusive of stocks, hard metals, energies, cryptocurrencies, and indices. What we really like about FXCM is that it offers a huge suite of educational and research tools.
For example, there are extensive guides on how to become a better trader, explainers on leverage and margin, and even step-by-step videos.
FXCM is also strong when it comes to market insights. For example, there is information on forex indicators, monetary policy and supply, currencies unions, and OPEC. All in all, FXCM is a great choice if you want to trade and learn at the same time. When it comes to the fundamentals, FXCM allows you to trade on a commission-free basis. On most of its supported markets, you will find that spreads are tight during standard market hours.
FXCM is also popular with traders in Nigeria as it offers high leverage limits. The platform notes that all new account holders are offered leverage of up to by default on forex and on CFDs.
When it comes to supported trading platforms — this is where FXCM really stands out. For example, the provider is compatible with MT4, NinjaTrader, ZuluTrade, and TradingView. Alternatively, FXCM also offers its own proprietary trading platform. Trading Station is available online or via the FXCM app — which is compatible with iOS and Android devices. If you are the type of investor or trader that seeks access to thousands of markets via a single platform — look no further than Saxo Bank.
This popular online brokerage firm offers access to no less than 40, financial instruments. This covers a great blend between CFD markets and traditional investment products — making Saxo Bank ideal for both short-term and long-term traders. Regarding the latter, this is inclusive of over 19, shares from 37 global stock exchanges. Other exchanges come with various commission rates. This covers both government and corporate bonds from a variety of markets — including Europe, the US, Asia, Africa, and more.
Other traditional investment products include ETFs, index funds, and fully managed portfolios. At the other end of the spectrum, short-term day traders will also have access to thousands of markets. This includes everything from stock CFDs, precious metals, and oil to forex, interest rates, and indices. Although trading fees will vary depending on what marketplace you wish to access — this is generally very competitive at Saxo Bank.
Saxo Bank offers one of the best proprietary trading platforms in the market. This consists of SaxoTraderGO and SaxoTraderPRO. Both come with heaps of technical indicators, charting tools, and other advanced features. If you prefer to use MT4 — this is also supported. MultiCharts and TradingView can also be linked up with your Saxo Bank account.
This page has reviewed 10 of the best trading platforms Nigeria to consider in If you read through all of our reviews — you will now know that no two trading platforms are the same. As such, in finding the best trading platform in Nigeria for your needs — you need to do some research of your own.
To help you fast-track the process — below we discuss the most important considerations to make in your search for the best trading platform in Nigeria. Put simply, the biggest mistake that you can make is choosing a Nigerian brokerage site that is not regulated.
In fact, we would go further by adding that the platform should be regulated by a reputable licensing body that has a solid reputation in the trading scene. This is why the best brokers in Nigeria are regulated by top-tier bodies located overseas. The best trading platform in Nigeria that we came across — eToro, is regulated by all three of the aforementioned financial bodies. Ultimately, this ensures that you are able to trade in a safe and secure environment and that your capital is protected at all times.
There are tens of thousands of financial markets active in the investment arena. This can generally be broken down into short-term markets — such as forex and CFDs, and long-term investment products — like stocks, ETFs, or index funds.
Irrespective of which financial instrument interests you — make sure that your chosen broker offers it. This is once again why we think that eToro is the best trading platform in Nigeria — as the broker offers thousands of short-term and long-term markets. Regarding the former, this is inclusive of forex, commodities, indices, and cryptocurrencies. Fees will vary considerably from broker to broker and market to market.
It is imperative that you know what fees you will need to pay before signing up to a trading platform — as this will directly eat into your profits. Below we discuss the main trading fees that you need to look out for in your search for the best broker in Nigeria.
Perhaps the most important fee that you need to assess is the commission on each position that you enter. For example, some brokers in Nigeria charge a variable commission — such as 0. In this instance, you would pay 0. This is also the case with AvaTrade, Libertex. Other than Libertex — all brokers in Nigeria charge a spread. This is the difference between the buy and sell price of the market that you wish to trade.
At trading platforms like eToro, Libertex — the spread on major pairs rarely exceeds 1 pip. At eToro, this will cost you just 0. In our search for the best trading platforms Nigeria for — we came across some very notable features that you might be interested in. This is because once you select an experienced trader that you wish to copy — all ongoing positions that they enter will be reflected in your own eToro account.
There are thousands of successful traders at eToro that you can copy — and the feature attracts no additional fees. If you are more interested in trading yourself — then you will need to ensure that your chosen platform offers an abundance of technical indicators, chart drawing tools, and market insights. The latter should include access to real-time data feed and financial news. For example, you should assess how seamless it is to open an account and deposit funds, search for your preferred financial markets, understand the fee structure, and of course — enter and exit positions.
Most of the best trading platforms in Nigeria that we discussed today allow you to search for an asset with ease. You can then set up a buy or sell order at the click of a button — alongside risk-management tools like stop-losses and take-profits. Regardless of whether you are an experienced pro or a complete trading novice — you should choose a platform that offers a free demo account feature.
This should mirror live market conditions and not require you to make a deposit. This is ideal for beginners — as you can practice trade before risking your own capital. The demo account feature at eToro is also great for seasoned traders — as you have the opportunity to test out new investment strategies in a risk-free environment. Most traders in Nigeria will use a desktop device when buying and selling assets online.
This is because the process of performing technical and fundamental analysis is a lot more seamless on a bigger device. Plus, most account features will still be available at your fingertips — including the ability to deposit and withdraw funds, enter new positions, close outstanding trades, and perform research and analysis.
Although the best brokers in Nigeria are headquartered overseas — you will still be able to deposit funds with your usual debit or credit card. This will be the case as long as it is backed by a major issuer — such as Visa, MasterCard, American Express, or Maestro. With that said, the best trading platforms in Nigeria also support e-wallets. For example, eToro allows you to deposit and withdraw funds with Paypal, Skrill, and Neteller.
All of the brokers discussed today also support traditional bank wire transfers — but this will often take a few days before the cash arrives in your trading account. The trading platforms in Nigeria that we came across offer a live chat feature — which is ideal.
We did, however, also come across several providers that only offer support via email. As such, be sure to check this before opening an account. If so, we are now going to walk you through the process of getting started with the best broker in Nigeria — eToro. Opening an account at eToro should take you no more than a few minutes. All you need to do is provide your personal information, alongside your email address and mobile number.
All traders at eToro must verify their identity — as per anti-money laundering and KYC rules. Simply upload a copy of government-issued ID and proof of residency, such as a recently issued bank account statement. As soon as you make a deposit — the amount will be converted into US dollars at a competitive FX fee of 0.
You should now have an eToro account that is funded in US dollars. If you know which market you wish to access — use the search box at the top of the page. As you can see from our example — we are looking to speculate on the future value of natural gas. Now you need to set up a trading order. Although not compulsory — you might also decide to apply leverage and deploy stop-loss and take-profit orders.
There are dozens of trading platforms offering services to those based in Nigeria. In doing so, you can be sure that the provider is right for your trading goals. The best trading platform in Nigeria is eToro - which allows you to trade thousands of markets commission-free. The broker is regulated by three reputable bodies and supports a wide variety of convenient payment methods - including Paypal. Forex trading - and all forms of trading for that matter, is legal in Nigeria.
You do, however, need to ensure that you use a regulated brokerage firm. If you are looking to invest in stocks - consider eToro. This top-rated stock broker gives you access to over 2, shares from 17 stock markets. This includes stocks listed in the US, UK, Europe, and more. If you want to speculate on the future value of commodities like gold, oil, or natural gas - there are many brokers that allow you to do this from the comfort of your home.
In fact, platforms like eToro and Libertex allow you to trade commodities on a commission-free basis. Many brokers also support e-wallets like Paypal.
Very few active brokers offer a market on the Nigerian naira - as this currency is super volatile and suffers from low levels of liquidity. Yes - due to the volatility of the Nigerian naira - many traders are now turning to cryptocurrencies like Bitcoin.
All you need is a trusted online crypto broker like eToro. Alan is the Chief Editor of TradingPlatforms. He is an experienced finance and investment writer who is an expert on the stock market. The Nigerian Best Online Trading Platform Revealed Use our interactive tool to find your perfect trading platform, whether you want to trade forex, crypto, stocks, CFDs or anything else. Number of Trades. More Filters. Sort By Rating. Payment methods. Rating 0 or better. Mobile App 0 or better. Clear Filter.
Featured Broker. Social and copy trading network. Invest and trade crypto with low fees. Visit Site. Read Review. Account Information Account from. Deposit Fees. Inactivity Fees.
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Use our interactive tool to find your perfect trading platform, whether you want to trade forex, crypto, stocks, CFDs or anything else. More and more people in Nigeria are turning to online trading platforms to buy and sell assets like forex, gold, stocks, and indices.
The most important thing is that you choose a platform that offers great fees, lots of supported markets, and top-rated customer support. The best trading platforms in Nigeria for can be found below. Scroll down to read our comprehensive review of each broker. There are a variety of core factors that you need to check in finding the best trading platform in Nigeria for your needs. This should center on metrics like commissions and spreads, payments, supported instruments, customer support, and of course — regulation.
Taking these key factors into account — below we review the best trading platforms in Nigeria. After all, you will likely be entering and exiting lots of positions throughout the day — looking to target modest but regular profits. In this respect, Libertex is the best broker in Nigeria for this purpose.
Crucially, this is because Libertex is one of the only online trading platforms that does not charge any spreads. Additionally, many of the markets offered by this CFD broker are commission-free. Although some financial instruments come with a small commission that is payable per slide — this is rarely above 0.
Libertex covers a broad range of markets — with the platform covering stocks from a variety of exchanges. You can also speculate on the future value of ETFs, indices, commodities, digital currencies, and forex.
This top-rated broker offers three trading platforms to choose from. Alternatively, you can trade via the Libertex online platform or mobile app. If you are relatively new to the world of online trading, Libertex offers a great selection of free educational materials.
This is inclusive of guides and trading explainers, economic calendars, and a glossary of key investment terms. All markets on the Libertex platform can be traded with leverage and you can choose from a long or short position.
Visit Libertex Now. Axi Broker is an online forex and CFD broker that is available in over countries- including Nigeria. The platform was first established in and offers over 70 currency pairs to trade. The platform is popular for its competitive spreads and zero-fee policy.
While it is known for its excellent forex trading software, Axi also offers cryptocurrencies, commodities and indices to trade. This means that traders can diversify their portfolio and explore various markets to mitigate risk. However, the platform is not directly regulated in Nigeria.
Never the less, the platform must comply with FCA and ASIC requirements which makes it a relatively safe platform to consider.
One of the best features of the Axi platform is that it offers a demo account. This is a great way to test out the platform without putting any real money at risk. As well as this, there are several algorithmic trading tools available through Axi which can be used to automate the trading process and create a passive trading method.
Axi is integrated with both AutoChartist and MetaTrader- these are both excellent trading platforms that provide indepth charts, numerous analysis tools and advanced indicators. Both platforms are compatible on desktop and MetaTrader can also be used on a mobile device. Many traders in Nigeria are turning to automated trading solutions. This typically comes in the form of a forex EA Expert Advisors or robot. Either way, we found that AvaTrade is one of the best brokers in Nigeria for automated trading.
This is because the provider is fully compatible with MT4 and MT5. In fact, AvaTrade goes one step further by also offering support for ZuluTrade, MQL5, and Duplitrade.
These third-party platforms and tools offer everything you need to deploy a fully automated trading system. When it comes to supported markets, AvaTrader covers dozens of currency pairs, indices, bonds, stocks, ETFs, and cryptocurrencies.
These markets are all offered in the form of CFD instruments — meaning that short-selling and leverage can be achieved at the click of a button. A crucial stand-out selling-point of AvaTrade is that broker is regulated in six different jurisdictions. This ensures that your trading capital is protected at all times.
AvaTrade is also popular with traders in Nigeria for its low fee structure. The platform builds all trading fees into the spread — meaning that you can trade commission-free.
AvaTrade is also popular with traders that are followers of the Islamic faith. This is because it offers an Islamic trading account — which ensures that no swaps are charged on positions carried over to the next day. This account type is also inclusive of Halal oil trading and Halah indices trading. Getting started at AvaTrade should take you no more than a few minutes. While many traders in Nigeria opt for a short-term trading strategy — some of you will likely want to build a long-term investment portfolio.
If this is the case — Trading is well worth considering. This user-friendly broker gives you access to over 10, shares and ETFs from a number of global markets. This has a strong focus on shares listed on the London Stock Exchange LSE and Alternative Investment Market AIM — which is perfect if you want to invest in the wider UK economy.
Other markets at Trading are inclusive of the NYSE and NASDAQ in the US, as well as exchanges in Germany, Spain, Switzerland, and Frankfurt. This is particularly useful for those of you that wish to invest in US-listed companies like Apple, Tesla, or Microsoft — many of which cost hundreds of dollars per share.
But, by opting for Trading — you can purchase fractional shares of your chosen stock. This means that you can invest in any stock of your choosing without needing to pay any share dealing fees. On top of a huge stock library, Trading is also popular in Nigeria as it offers CFD financial services. This covers a wide range of financial markets — such as stocks, forex, hard metals, and energies.
You will pay a small trading fee of 0. As such, if CFD trading is what you are after — the likes of eToro and Libertex are more competitive. Skilling is an online CFD and forex trading platform that is very popular in Nigeria. In particular, this top-rated broker offers one of the best mobile trading apps that we have come across.
Available on both iOS and Android — Skilling makes the process of buying and selling CFD instruments on the move a seamless one. The Skilling trading app gives you access to highly liquid markets. This includes hundreds of shares — most of which are listed on the NYSE and NASDAQ. You can also access energy markets on oil and natural gas, hard metals, forex, and indices.
Each and every financial market offered by Skilling can be traded commission-free and with super-tight spreads. In fact, this starts at just 0.
Although many traders in Nigeria opt to use the Skilling mobile app — the broker also offers support for third-party platforms. This includes MT4 and cTrader. We should also note that Skilling offers high levels of leverage. Depending on your account type and the respective asset class — this goes as high as When it comes to safety, although Skilling was launched as recently as , the platform is authorized and regulated by European regulator CySEC — so you will benefit from a range of water-tight investor protections.
Visit Skilling Now. Your capital is at risk when trading CFDs with this provider. This top-rated broker — which was first launched in and is now a publicly-listed company — gives you access to over 80 currency pairs.
Naturally, this is inclusive of all major and minor currency pairs and a huge selection of exotics, too. When trading forex with this provider, you will have two account types to choose from.
If you are a casual trader then you will be best suited for the CFD account. Instead, all fees are built into the spread. The spreads offered by IG are really competitive — even on the standard CFD account. If you are a professional trader you might prefer to open a DMA Direct Market Account with IG. This will allow you to trade with other market participants on a peer-to-peer basis — meaning you will get the best spread available.
When it comes to margin trading , IG offers leverage of up to on major currency pairs and on minors and exotics. Nevertheless, irrespective of whether you are a professional or retail client — IG also offers markets on stocks, ETFs, commodities, cryptocurrencies, indices, bonds, interest rates, and more.
Raw spread accounts are super popular with those that wish to trade directly with other market participants. In fact, on major markets like forex — you will often have the luxury of paying no spreads.
This makes the broker ideal for those that seek to trade larger volumes. You should also expect super-fast execution times at this broker — with Pepperstone averaging just 30 ms Milliseconds per position. This is because the provider uses multiple Tier 1 banks for liquidity purposes. We should note that Pepperstone is also suitable for casual traders.
This is because it offers a Standard Account that comes with commission-free trading. This will, however, attract higher spreads starting from 1 pip. Either way, you will have access to liquid marketplaces at Pepperstone.
This covers a great variety of stocks, indices, currencies, hard metals, and energies. When it comes to trading platforms, Pepperstone is compatible with cTrader, MT4, and MT5. Once again, these platforms are great for experienced pros and those looking to deploy a robot.
Although Pepperstone is arguably more geared towards professional traders — the platform does not have a minimum deposit policy in place.
We have selected the 6 best forex trading platforms in Nigeria after a comprehensive analysis and comparison of 25+ forex brokers in Nigeria. More than 12 factors have been considered 28/7/ · Best Forex Trading Platforms. Which is the Best Forex Trading Platform? MetaTrader 4; MetaTrader 5; cTrader; Proprietary (Broker-owned) Platforms. eToro Best Forex No Deposit Bonus in Nigeria. Overall, XM offers the best forex no deposit bonus for Nigerian Traders. XM offers a welcome bonus of 50% DEPOSIT BONUS UP TO $ and 18/4/ · 5 Best Forex Trading platforms in Nigeria. Here’s our list of best forex trading platforms for traders in Nigeria: HotForex – Overall Best Forex Trading platform; Avatrade – 24/10/ · Trading – Best Trading Platform in Nigeria for Long-Term Investments; Skilling – Best Broker in Nigeria for Mobile Trading; IG – Best Trading Platform in Nigeria for Forex; Pepperstone – Best Broker in ... read more
HF Markets was launched in and provides trading of Foreign Exchange Forex and contracts for difference CFDs. Currently, cTrader is supported by the following brokers: Scroll for more details. Relatively low spreads. Exness Account Types: Exness has 5 trading account types for clients. The best trading platforms in Nigeria for can be found below.Read our IG Markets review. The broker is popular among the Nigerian forex trading community as it is overseen by multiple top-tier financial authorities. This includes everything from stock CFDs, precious metals, best forex trading platforms in nigeria, and oil to forex, interest rates, and indices. Features Great mobile app. Alpari Currently, cTrader is supported by the following brokers: Scroll for more details. Crucially, this is because Libertex is one of the only online trading platforms that does not charge any spreads.