Nigeria is one of the fast-growing Forex markets in the world. The forex market in the country is regulated by the Central Bank Of Nigeria. There aren't restrictions and the traders in Nigeria can trade with the best Forex brokers in the world at the best trading conditions.
Nigeria is with a population of over 206 million people and there is the biggest forex community in Africa. There is a variety of different courses and trading tools that could improve the success of trading forex.
There are several main points which you should bear in mind when you choose your forex broker. You have to check the list with trading instruments - if the pair that you want to trade is in the list of the broker. Another important point is Support. Most of the brokers provide English support via mail and phone, but if you want to receive support on the Nigerian language, please check this in advance. There isn't a leverage restriction in Nigeria, but if you choose a European licensed broker, the leverage can be limited.
| Forex Broker | Min deposit | Leverage | Deposit method | Platforms | Spread | Swaps | Support |
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| Pepperstone Visit |
200 AUD | 1:30 |
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| Plus500 Visit |
100 USD | 1:30 |
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| XTB Visit |
250 USD | 1:30 |
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| XM Visit |
5 USD | 1:30 |
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| CMC Markets | 0 USD | 1:30 |
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| IG Markets | 300 USD | 1:30 |
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Nigerian forex market is open without restriction where the trades can trade. And there are a lot of forex brokers which operate in Nigeria. Some of the brokers offer the most known MetaTrader 4 and Metatrader 5 platform. These platforms are leaders in retail forex and offer a lot of possibilities including Algo trading. Other brokers offer their own developed platforms that offer many features including news information, a lot of analysis, social trading, and others.
The traders in Nigeria can choose from the best forex brokers in the world. These brokers offer thousands of trading instruments including 100+ forex trading pairs, gold, silver, CFDs based on the major stock indices, commodities, cryptocurrencies, and others.
Nigeria has the biggest forex community in Africa. This attracts a lot of forex brokers that offer the most competitive trading conditions. Nigerian clients can trade through a lot of platforms and at thousands of trading instruments.
Miroslav Georgiev is Senior Risk Executive with 20+ years of professional wide-ranging experience in multinational forex companies. Take part in Global setup and development of Forex and CFD being an active part of the Business Team. Build and manage Risk management departments and teams.
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