17 Biggest Forex Brokers in Nigeria


Anene Peters

28 july ,2020

IG Markets provides more than 17 000 financial markets to nearly 180 thousand traders across the globe. These markets include a wide range of indices, forex, shares, commodities and cryptocurrencies through the MetaTrader 4 and ProRealTime platforms.

IG Markets is one of the oldest forex brokers, so that traders can benefit from the company’s 45 years of experience. It boasts an execution speed of approximately 0.014 seconds and 86 million traders during its fiscal year 2019.

IG Markets was awarded at the ADVFN International Financial Awards 2020 and Professional Trader Awards 2019.



  • FXTM 


FXTM (also known as ForexTime) is a multi-award-winning broker which has achieved more than 40 awards celebrating its competitive trading conditions. It has a presence in approximately 150 countries worldwide.

Traders have access to a range of standard and ECN account types. Minimum deposits start at 100 USD and a range of benefits such as no commission fees, no requotes and tight spreads await traders who choose FXTM as broker.



  • Markets.com


Markets.com offers traders access to a wide selection of currency pairs, indices, ETFs, commodities, cryptocurrencies and shares. These are offered through a number of platforms, namely Marketsx, Marketsi, and MetaTrader 4 as well as MetaTrader 5.

A minimum deposit of only 100 USD is charged and traders can choose from a range of safe and secure deposit and withdrawal options.



  • Alpari International


Alpari International is a popular choice for traders around the globe and serves more than 2 million traders. It was founded in 1998 and through the years it has proven itself to be a reliable and reputable broker.

Alpari International is authorised and regulated in Mauritius by the FSC. Through its choice of powerful trading platforms, traders have access to over 250 trading instruments such as forex and CFDs.



  • HotForex


HotForex provides a range of account types to choose from. Spreads from 0.1 pips and high leverage ratios are just some of the benefits traders will enjoy when trading with HotForex. Minimum deposits start at just 5 USD.

This multi-award-winning company is known for its transparency, best trading conditions and excellent customer support. It specializes in forex, cryptocurrencies, precious metals, commodities and many more.



  • BlackBull Markets


BlackBull Markets specializes in forex, precious metals, index CFDs, energy and commodities.

This award-winning broker offers several benefits such as low spreads, high leverage, minimum deposits from 200 USD, No Dealing Desk execution and popular trading platforms.


  • AvaTrade 


AvaTrade is well-regulated and offers a safe and secure trading environment. It specializes in a number of financial markets such as forex, cryptocurrencies and CFDs.

An initial minimum deposit from 100 USD is required on accounts and swap-free Islamic account options are available.



  • Plus500


Plus500 traders are required to deposit 100 USD on entry-level account types.

With access to more than 2 000 financial instruments, traders of all styles and experience levels are catered for and can choose from a wide selection of forex pairs, indices, shares and cryptocurrencies.

Plus500 is authorised and regulated by a number of financial institutions.



  • eToro


eToro is popular amongst novices and professional traders alike with minimum deposits that start at 50 USD, no management fees and fast order execution. Deposit and withdrawal options are numerous and hassle-free.

eToro is authorised and regulated by CySEC, the FCA, and ASIC. Traders have access to nearly 2 000 financial instruments.

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  • XM Trading 


XM Trading is authorised and regulated by reputable financial authorities from around the globe – the IFSC, ASIC, CySEC, FCA and DFSA.

This broker offers promotions such as a $30 trading bonus, variable leverage ratios, low spreads and commission fees, swap-free options and a minimum deposit of only 5 USD.

It has received numerous awards such as Best FX Service Provider, Best Customer Service Global and Best Online CFD & FX Trading Broker.



  • Exness 


Exness provides a number of different account types through its Standard and ECN account options.

The broker has low minimum deposits from 1 USD, high leverage ratios of 1:2000 and spreads from 0.3 pips, which are offered through the MetaTrader 4, MetaTrader 5 and WebTerminal platforms, depending on the account type.



  • Tickmill


Tickmill traders are well catered for by this award-winning broker. It offers three different account types, each with its own characteristics. Minimum deposits start at 100 USD, and swap-free options, spreads from 0.0 pips and low commission fees can be expected.

Tickmill specializes in forex, stock indices and oil, precious metals as well as bonds, which are traded on its MetaTrader 4 and 5 platforms.



  • FOREX.com 


FOREX.com traders have access to over 4 500 financial markets such as forex, commodities, cryptocurrencies, equities and indices. Traders can expect tight spreads, low spreads and commission fees, API trading and account rebates on its three different account types.

FOREX.com supports a number of trading platforms that maximise performance, speed and flexibility. This broker is authorised and regulated by the Cayman Islands Monetary Authority.



  • CM Trading


CM Trading, the largest forex broker in South Africa, is well regulated and offers a safe trading environment for all traders. It specializes in forex, commodities and indices.

It caters to the needs of different trading styles and experience levels with four different account types, of which several benefits are offered such as spreads from 0.9 pips, swap-free options and webinar access.



  • easyMarkets 


easyMarkets traders have access to market news and live prices directly on the easyMarkets app. Traders benefit from zero spreads, no margin requirements, limited risk and are able to set trading times.

By offering a multitude of educational and research tools, easyMarkets ensures traders have all they need to succeed in the world of forex trading.



  • GO Markets


GO Markets offer traders world-wide access to approximately 350 financial instruments. Its Equinix LD4 data centres ensure fast order execution and with 3D Secure, and traders can fund accounts in a fast and secure way.

With its Smart Tools, this broker helps traders to navigate global markets and make informed trading decisions. GO Markets also offers award-winning customer services, minimum deposits of 200 USD and low spreads.


  • JustForex


JustForex offers a range of trading accounts that cater to the needs of all traders, beginners and professionals alike.

The minimum deposit on its Standard accounts is just 1 USD. Traders will also benefit from leverage ratios of 1:3000, spreads from 0 pips, several trading strategies, order execution from 0.01 seconds and access to more than 170 trading instruments.

Commission fees are only charged on the broker’s Raw Spread account.

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