You can trade Forex online by opening an account with a Forex broker of choice. Online FX Trading in Nigeria is still unregulated with no local regulation in place currently; hence we recommend you sign up with the brokers regulated by foreign top tier market regulators such as FCA, FSCA or ASIC Here are the top most rated forex trading apps for beginners and advanced traders in Nigeria. MetaTrader 5 Successful trading in financial markets begins with Estimated Reading Time: 3 mins 4/29/ · We highly recommend Hotforex for beginner traders looking for a well regulated low cost broker in Nigeria. Hotforex was established in the year They are regulated with FCA (UK), CySec & even Financial Sector Conduct Authority (South Africa), Estimated Reading Time: 8 mins
10 Best Forex Brokers In Nigeria [ Regulated Brokers]
Forex Trading is a popular financial instrument for investing in the markets. However, choosing the right forex broker can be a tricky task. In a rapidly developing country such as Nigeria, there are so many good brokers, but there are also a lot more scam brokers operating in the market.
Our below vetted list is created especially for Nigerian traders; it will quickly allow you to compare the key features that you need to look for forex trading for beginners in nigeria any reputed forex broker.
Visit FXTM. They are safe for Nigerian traders as they are regulated under various trusted jurisdictions such as the FCA in UK, CySEC in Cyprus, FSCA and Forex trading for beginners in nigeria of Mauritius. FXTM is our recommended forex broker for Nigerian traders.
This makes FXTM a very good choice for Nigerian traders. Apart from forex trading, FXTM also offer other instruments such as CFDs on Commodity Futures and CFDs on spot metals making them a very attractive choice for traders looking to diversify their portfolio. even allows users to create a demo account in order to build their confidence and learn the art of trading.
FXTM also offers a wide range of educational material to its clients, including trading webinars. also read our in-depth FXTM review, forex trading for beginners in nigeria.
Visit Hotforex. Hotforex is our recommended low cost broker for Nigeria. We highly recommend Hotforex for beginner traders looking for a well regulated low cost broker in Nigeria. Hotforex was established in the year Also, they offer extremely competitive spread of 0.
Further, Hotforex offers trading on various platforms that can be accessed from Android, iPhone and desktop. You can trade on the MetaTrader 4 or Forex trading for beginners in nigeria 5 platforms, both of which are the most widely used trading platforms in the world.
Hotforex also offers local bank withdraw and deposit methods for Nigerian traders, and there are many wallet options as well. Plus, Hotforex have ongoing deposit bonus promotion available for traders in Nigeria. read our Hotforex review.
Visit OctaFX. OctaFX is a CySEC regulated forex broker that also accepts Nigerian clients. They have 3 account types i. e: MT4 Micro account for new traders with spread starting from 0. But they have competitive spread on their available trading assets, especially for traders who are looking to trade major currency pairs, and 3 main cryptos Bitcoin, Ethereum and Litecoin.
Their support is also very responsive in handing issues. They also have WhatsApp text support available. They offer instant funding via Skrill, Neteller, and quick zero fees funding via bank transfer, or cash, or ATM in their GTBank account.
also read our detailed OctaFX review. Visit XM Forex. XM Forex is another broker that we definitely recommend to new Nigerian traders. They are regulated by CySEC Trading Point of Financial Instruments Pty Ltd sinceand by the Australian Securities and Investments Commission ASIC since XM broker offers 55 forex currencies, and more than CFD instruments on its platform.
Another plus is their no re-quotes policy. XM broker also offers free research through its own in-house team of analysts. Its interface is quite user-friendly and can be accessed on desktop, mobile, as well as the web.
also read our in-depth XM forex review. Visit Exness. Exness is 5 in our recommended forex broker list for Nigerian traders. They offer market Execution but it is very fastforex trading for beginners in nigeria, very competitive spread of as low as 0. This is quite wide compared to other brokers.
Further, with Exness you can trade on the advanced MetaTrader 5 platform that even has a news feed. In addition to this, Exness offers tight spreads withtheir three major account types.
Minimum spread for FX starts from 0. Exness does not charge any commissions with two of its account types. The broker offers up to date financial news and technical analysis charts to its users so that they can invest better. Further, customer support is available 24X5 in eight languages and 24X7 in three languages. Another key feature is that forex trading for beginners in nigeria via some methods is executed instantly upon request.
Visit Avatrade. Avatrade is a fixed spread European Forex broker. They offer 0. also read our in-depth Avatrade review. Visit Alpari. Investors will also like their very low minimum deposit, even with their very low fees ECN account. Alpari was founded in the yearand it is the second best forex trading for beginners in nigeria broker in Nigeria as per our updated review.
The broker offers its services on both the MetaTrader 4 as well as the MetaTrader 5 platforms. Alpari has six different account types, with a minimum deposit as low as zero with the Nano Account.
With Alpari, you can also trade cryptocurrencies such as Ethereum and Bitcoin, but it is limited to their ECN accounts only. The broker does not charge any extra commission other than the spread. This makes them a really interesting option. Another key feature is that the support team of Alpari is available 24X5 in Nigeria, so you can reach them anytime if you need their help. read our complete Alpari review. Visit IC Markets. IC Markets is an ASIC regulated ECN type broker that offers very Forex trading at very competitive fees.
If you are a professional trader that traders in high volume, then Raw spread account at IC Markets is a good option, forex trading for beginners in nigeria. Based on everything we have test, we then give a rating out of These regulations ensure that traders do not lose money due to illicit activities such as fraud and manipulation by the broker.
These regulations also safeguards the money that the traders deposit with the brokers, in case of any forex trading for beginners in nigeria by ensuring segregation of funds. The key objective of regulatory authorities is that the brokers provide transparent services and comply with the laws, forex trading for beginners in nigeria. Thus, if you are looking for a Forex broker, you should check whether the broker is forex trading for beginners in nigeria and licensed or not.
The best brokers are usually the ones who have a clean track record and offer transparent services to the investors. Also, remember that not all regulations are the same. Avoid broker that is regulated with Offshore regulations. A good forex broker will be regulated with multiple Tier-1 regulations like FCA, ASIC, CySEC etc. Some brokers may claim to be licensed, but in reality might be using a fake license number. Another critical aspect to monitor is the reputation and reviews of the broker.
There are numerous broker review websites including us available online that can provide you with editorial as forex trading for beginners in nigeria as user reviews regarding the brokers. In addition to this, another way is to ask the existing traders about the brokers. By comparing the reviews of brokers and analyzing their reputation, you will be able to make an informed decision as to which broker to choose. Another aspect of the broker that you need to consider carefully is the trading platforms that a broker is offering.
Usually, the best brokers in the business will give you multi-platform access i. the ability to execute trade orders from anywhere and from any device. There are some brokers which only allow you to trade only through a web-based interface.
All the brokers that we have included in our list will allow you to trade on the most popular trading platforms i. Normally, the brokers will list all their available platforms on their website. And it matters to check it!
For example, many traders in Nigeria prefer Metatrader 4 platform over others. But some of the brokers like Plus for instance does not offer Metatrader, they instead only have their own propreitary platform for traders, forex trading for beginners in nigeria.
So, you should check out this information before signing up, whether the platform of your choice is available or not. But if you are comfortable using proprietary platforms by brokers too, then you should not be too concerned. It is really important that you carefully consider the various fees a broker might charge you before signing up.
Spread is basically the difference between the bid price and the ask price of a currency. The lower the spread, forex trading for beginners in nigeria, the better it is for you since you will have to pay lesser to the broker on your trade. One of the most important metric that we give importance to forex trading for beginners in nigeria comparing and recommending a broker is the standards of customer support.
You should check carefully whether the instrument or currency pair that you want to trade is available at the broker or not.
So you would be able to check it before making a decision about a broker. Also check if your broker has tools for risk management including: negative balance protection, guaranteed stop-loss feature, deal cancellation some brokers may offer this for extra fees.
Forex Trading Tutorial For Beginners -- Make Money Online In Nigeria 2020
, time: 12:245 Best Forex Trading Apps For Beginners In Nigeria - Nairabarter Blog
Here are the top most rated forex trading apps for beginners and advanced traders in Nigeria. MetaTrader 5 Successful trading in financial markets begins with Estimated Reading Time: 3 mins 4/13/ · Top 10 Forex Brokers In Nigeria. Our best list of registered forex brokers in Nigeria is. blogger.com - Best Forex Broker In Nigeria. Pepperstone - MT4 Best Forex Trading Platform. FP Markets - STP Forex Trading Account. FXTM - Nigerian Naira (NGN) Funding. IC Markets - Lowest Spread Nigerian blogger.comted Reading Time: 9 mins 4/29/ · We highly recommend Hotforex for beginner traders looking for a well regulated low cost broker in Nigeria. Hotforex was established in the year They are regulated with FCA (UK), CySec & even Financial Sector Conduct Authority (South Africa), Estimated Reading Time: 8 mins
No comments:
Post a Comment