Top Forex Brokers in Nigeria 2021 – The Complete Lis



forex broker is a financial services company that provides traders access to a platform for buying and selling foreign currencies. Transactions in the forex market are always between a pair of two different currencies. A forex broker may also known be as a retail forex broker or a currency trading broker.

List of Best Forex Brokers in Nigeria  

Best Forex Brokers Nigeria

Here are the list of the Best Forex Brokers in Nigeria.

1. Ava Trade – Best Forex Broker in Nigeria

best forex broker in nigeria

AvaTrade is one of the Best Forex Brokers in Nigeria, also recognized internationally. AvaTrade was founded in 2006 and is considered a pioneer in online brokerage. This post enumerates important information about the trading platforms, mobile app, deposit methods, and MT4 interface. Trading fees and spreads and also considered. AvaTrade could be the best choice when choosing a Forex Broker. 

AvaTrade currently has 4 presence internationally and they are located in Japan, Australia, Ireland, and the British Virgin Islands. Ava trade is regarded as one of the most liquid and regulated online brokerages in the world, AvaTrade accepts clients from several parts of the world, Nigeria included. 

The company is in partnership with a football club, thereby declaring the companies growth and visibility. AvaTrade is regulated by a reputable regulatory agency and this regulated status helps to ensure the brand’s transparency and competence. Europe, the broker is regulated by the Central Bank of Ireland under license #C53877.

AvaTrade is regulated in Australia by the ASIC under license #406684. AvaTrade broker is also licensed in Japan by the FSA under license #1662 and the FFA under license #1574 respectively.  AvaTrader broker is licensed by the FSB under license #45984.

The company has been awarded several trophies such as awards for “Best Customer Support”, “Best Alert System”, “Best Financial Derivative Trading Provider”, and “Best Forex Broker YEAR” AvaTrade has different types of trading Platforms available for its clients 

The following platforms offered by AvaTrade are the

  • MetaTrader 4 and
  • MetaTrader 5 platform. 

Meta Trader for web trading is also available  Other added functions on AvaTrade includes various automated trading software to suit every person’s needs such as RoboX, Mirror Trader, MQL5 Signal Service, and API TradingDuplitrade AvaTrade offers only two account types to most traders which are the standard account and a demo account. Standard accounts can be opened with as little as $100 using credit cards or with $500 via wire transfer.

IC MARKETS – Best Forex Brokers in Nigeria

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IC Markets is also one of the best forex brokers in Nigeria. IC Markets bridges the difference between retail and institutional traders, making trading relatively easy for every one of their clients. 

IC Markets is a standard and regulated Forex provider that provides for the trading needs of different traders’ personalities. IC markets also have a user-friendly interface for novice traders. IC Markets offers its customers sophisticated trading platforms, with good connectivity, and buoyant liquidity.

IC Markets is creating a trend in the world of forex trading. Traders leverage on this to have access to nice pricing which was previously only available to investment banks and wealthy spectators.  If you intend to consider forex investment, you should take a look at them.

FXTM – Best Forex Brokers in Nigeria

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Forextime which is also known as FXTM was established in 2011, FXTM forex company is an international pioneer in the world of online trading. They transfer the fairness of the forex market to their clients worldwide wherever they might be and whatever their monetary goals are. Forex time is a credible forex investment company in Nigeria which you can give a trial if you are considering investing in the forex industry. 

They are professionals in leveraged trading and grants you the opportunity to achieve monetary returns on both ascending and descending asset prices across the forex market. It doesn’t matter if you are a professional trader or not. Forex time investment company expertise will fast-track you on your way to success. 

The brand international presence cut across Europe, Africa, Asia, and Latin America, and they claim to have over three million clients signed up to them over the last years including Nigeria.

By investing in the forex time(FXTM) company. you relish a lot of advantages such as the following listed below:- 

  • You operate a forex account that fits your personality. 
  • You enjoy low trading fees and extremely fast trade execution. 
  • With FXTM you are granted access to the most widely known trading platform which is MT4 or MT5 available on Android or IOS devices desktop, or web. 
  • You are provided with free forex educational courses to kick start your trading endeavor towards profitability. 
  • You can easily copy trades from over five thousand traders with the integrated copy trading function. 
  • You are granted free access to a demo account that can be used to test strategies or backtest on the market. A live account is also provided which you can deposit into whenever you are ready to trade. 

Pepperstone Broker – Best Forex Brokers in Nigeria

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Pepperstone has proven to be a top-notch FX investment brand. Pepperstone is arguably part of the most trusted forex trading investment companies that should make this list in Nigeria and beyond. Pepperstone broker has been complemented with a lot of trophies for their expertise in making the forex market accessible to the average investor.

If correlated with other forex companies, they are the best choice to be acknowledged for steadily providing satisfying clients support, swift market trading conditions, and providing clients with monetary worth.

Pepperstone is an international forex company you can invest in safely. They are dependable by over 56,000 traders all over the globe. Pepperstone was established in 2010 in Melbourne, Australia by a lineup of expert traders with a mutual goal to revamp the online trading space.

Pepperstone investment company is recognized globally and is also available for Nigeria investors willing to play the forex market. 

Pepperstone provides the client with an easy-to-use user interface for easy maneuverability for even newbie traders. Pepperstone claims to provide each of its clients with the necessary materials needed to ensure profitability.

Paper accounts are provided to enable new traders to test out their strategies risk-free and develop a trading edge. The lower account function allows users to practice and understand the platform. They also offer to the client a real account where you can despite real funds and trade with them. You can deposit into your account from any place in the world with your debit card to start your trading activities and making a profit. To get further information. Feel free to visit pepperstone with the link below 

FXCM – Best Forex Brokers in Nigeria

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FXCM is one of the most popular forex brokerages available for Nigerians. FXCM fx investment company is a prominent ticket of online forex trading services and other complementary services.

It is a credible forex company in Nigeria that was established in 1999. The company’s motive is to ensure traders from different parts of the world have access to the foreign exchange trillion-dollar market.

They provide their clients with top-notch trading tools and have excellent customer support service. FXCM is no doubt one of the best forex investment companies in Nigeria. You should probably check them out if you are willing to invest in the forex market. 

OctaFX – Best Forex Brokers in Nigeria

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OctaFX is one of the prevalent and trusted forex brokers present today which was founded in July 2011. OctaFX helps traders to search for favorable trading conditions in the financial market.

OctaFX provides a solution of excellent trading experience for both new and professional Forex traders, thereby maximizing their investment

OctaFX is a foremost forex investment company your funds are safe with. Since its creation, it has experienced noticeable expansion and several testimonials. They have received 28 forex industry awards, with over 1.6 million trading accounts registered by clients, and over 300 million trades executed. They cover up to 100 countries around the globe. 

Below are some of the pros attached to signing up an account with octa fx

They provide a tight spread and some of the lowest among other forex brokers. This maximizes your profit potential on each successful trades that you place. 

OctaFX gives customers a 50% deposit bonus on OctaFX which increases your overall deposit indirectly and helps you to open higher positions. You also get to withdraw profits made from this bonus given as long as you meet the requirements. 

They reward clients with loyalty proves. OctaFX does a program known as the “Trade & Win program” on its platform, which enables clients to take advantage of allocated draws. 

OctaFX aims to create the top transparent trading experience for retail and institutional clients thereby allowing traders to center more on their trading activities. They make forex trading in Nigeria relatively easy for the average trader. 

OctaFX is best known for its swift deposits and withdrawal. Signing up with OctaFX enables you to benefit from a swift deposit and withdrawal setup. You can execute trades the instant you have made a successful deposit into your trading account. Your profits are also yours to withdraw any time. 

OctaFX forex company does not charge commission on deposits. You benefit from a no-commission policy while depositing and withdrawing from the broker. OctaFX provides its clients with some of the best exchange rates available in the forex market. 

How to choose a trusted Forex Broker as a Nigerian Trader? 

Africa is characterized by outrageous forex scammers and fraud. It is, therefore, necessary to guard your funds against fake forex programs and get rich quick schemes. You should only deposit your funds into recommended safe forex trading platforms. You should be conscious of too good to be true offers.

We believe this guide has provided you with a comprehensive list of trusted forex investment companies in Nigeria. Do well to make your decisions and wish you good luck in your trading endeavors.

Is Forex Trading Legal in Nigeria?

Forex trading has no restrictions in Nigeria for now. With the fast emerging Nigerian economy, Nigerian forex market players have witnessed swift growth during the past years, and a lot of average Nigerians are contributing to the fx market.

This event has led to prevalent fraudulent activities taking all over the place. There has been repression on unregulated fraud forex brokers promising false offers to novice traders for the past few years.

The roar in forex trading has been around since the 2000s and currently, there are around 300 thousand retail forex traders signed up to the broker. Thanks to easy access to the available brokerage.

Getting a trusted and reliable broker can be a daunting task for forex traders. Depositing funds into a credible broker can be the bridge between profitability and enormous penury. 

That’s why we compiled this list of trusted forex brokers for you. I hope you enjoyed reading.


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