5 Best Brokers who offer a welcome bonus in Nigeria

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When opening a trading account with a Forex broker in Nigeria, many of them provide new clients with a free deposit bonus, which also referred to as a welcome bonus. New traders can get started in the Forex market without risking any of their own money thanks to this bonus.

However, there are many other things to consider before signing up with a broker. Regulation, pricing, and educational materials are just a few examples of the features which should be considered alongside the welcome bonus.

Here, we reveal the five best Forex brokers that offer a no-deposit bonus and beginner-friendly trading conditions to Nigerians.

 

1.      InstaForex

Overview

Amongst Forex brokers in Nigeria, InstaForex provides its customers with a number of advantages, some of the most notable of which include superior technical solutions, some of the best trading conditions that are currently offered, and a committed team of educators and support staff that works directly with each individual customer.

 

Pros and Cons

Pros Cons
Commission-free trading offered  
MetaTrader 4 and 5 offered  
Variety of account types offered  
Variety of financial instruments  
Well-regulated by several entities  
EU citizens are not restricted by the leverage, as they operate under BVI regulations.  

 

 

Features

Feature Information
Regulation CySEC, BVI, SVGFSA
Minimum deposit from $1
Average spread from 0.0 pips
Commissions from 0.03%
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses $500 Start Up Bonus
Customer Support 24/5

 

 

2.      FBS

Overview

FBS is a CFD broker that is regulated on a global level and offers trading in a diverse selection of assets as well as a welcome Forex no deposit bonus. These assets consist of currencies, indexes, equities, metals, and commodities in addition to more than 35 different digital assets.

 

Pros and Cons

Pros Cons
Ultra-fast trade execution Deposit and withdrawal fees
Low spreads and commissions  

 

Features

Feature Information
Regulation CySEC
Minimum deposit from $100
Average spread from 0.0
Commissions from ‎$6
Deposit/Withdrawal Fees Variable depending on method
Maximum Leverage 1:3000
Bonuses $50 No deposit bonus
Customer Support 24/5

 

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3.      Tickmill

Overview

Tickmill is a reliable STP broker that places a primary emphasis on supplying traders of all skill levels with a trading environment that is risk-free and protected.

Tickmill offers users a trading environment that is not only user-friendly but also features cutting-edge resources and ground-breaking technologies.

 

Pros and Cons

Pros Cons
Competitive pricing  
Well regulated  
High leverage  
Advanced trading software  
STP model  

 

Features

Feature Information
Regulation FSA
Minimum deposit from $100
Average spread from 0.1 pips
Commissions from ‎2 per side per 100,000 traded
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses $30 Welcome Bonus
Customer Support 24/5

 

 

4.      XM

Overview

Since its inception in 2009, XM Group has developed into a reliable brokerage that adheres to all applicable regulatory requirements.

Because of its lightning-fast trade execution and broad range of analytical tools, this broker is a top choice for all kinds of traders, from day traders who focus on the very short term to investors who focus on the very long term.

 

Pros and Cons

Pros Cons
Low minimum deposit Inactivity fee charged after 90 days on live accounts
Comprehensive educational offering Limited product portfolio
Streamlined account opening process  

 

Features

Feature Information
Regulation IFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from $5
Average spread from 0.1 pips
Commissions from $3.5 commission per $100 000 traded
Deposit/Withdrawal Fees None
Maximum Leverage 1:30
Bonuses $30 Trading Bonus
Customer Support 24/5

 

 

5.      HF Markets

Overview

In addition to providing a forex no deposit bonus, HF Markets caters to newcomers in the forex market by making trading simple and easy to understand.

Traders who use the HF Markets MT5 platform have access to all of the tremendous capabilities that MetaTrader 5 possesses, and they are able to alter these settings so that it better suits their personal requirements and trading methods.

 

Pros and Cons

Pros Cons
No deposit or withdrawal fees High commission charges on the Zero account
Competitive spread  

 

Features

Feature Information
Regulation CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from $5
Average spread from 0,0 pips
Commissions from USD 0.03 per 1K lot.
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses 100% Supercharged Bonus
Customer Support 24/5