Broker Reviews

We've tried and tested leading Forex brokers in Nigeria for you. Compare their range of markets, platforms and accounts here, in one place.

AvaTrade

AvaTrade.com is an award-winning online broker, in business since 2006. Trade CFDs on one of the widest possible range of instruments and asset classes, from Forex to ETFs and government bonds.

Score

4.7 / 5

Platforms

MT4, MT5, Copy trading

Regulators

Australia, BVI, Cyprus (EU), Gibraltar, Israel, Japan, South Africa, UAE

Risk warning: 77.82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FxPro

FxPro.com is a global broker, winner of 100+ awards including 'Best FX Service Provider' in 2023. Trade 250+ instruments across a wide range of asset classes on MT4/5 or cTrader. FxPro accepts all trading styles.

Score

4.6 / 5

Platforms

MT4, MT5, cTrader, Copy trading

Regulators

Bahamas, Cyprus (EU), South Africa, UK

Risk warning: 79.28% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Spread Betting work and whether you can afford to take the high risk of losing your money.

Exness

Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).

Score

4.3 / 5

Platforms

MT4, MT5, Copy trading

Regulators

BVI, CuraƧao, Cyprus (EU), Kenya, Mauritius, Seychelles, South Africa, UK

Risk warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital.

HYCM

HYCM.com, formerly HY Markets, is an award-winning regulated online broker suitable for day traders as well as long-term investors. It's also an established broker, in business since 1999.

Score

4.2 / 5

Platforms

MT4, MT5

Regulators

Cayman Islands, Cyprus (EU), St. Vincent & the Grenadines, UAE, UK

Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4XC

4xc.com is an offshore broker founded in 2018 by Forex veterans. Trade Forex, metals, oil and stocks with leverage up to 1:500. 4XC accepts all trading styles and Expert Advisors on MT4/5.

Score

4.1 / 5

Platforms

MT4, MT5

Regulators

Cook Islands

Risk warning: Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. You should carefully consider your financial situation and experience level before trading.

RoboForex

RoboForex.com is an offshore broker based in and regulated in Belize. Access over 12,000 instruments, including real equities and CFDs on Forex, crypto and oil, from a single platform. We were able to start trading in minutes, without ID verification.

Score

4.1 / 5

Platforms

MT4, MT5, Copy trading

Regulators

Belize

Risk warning: 58.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

HF Markets

HFM.com, formerly known as Hot Forex, is an award-winning Forex and CFD broker, with accounts tailored to new and experienced traders. Trade a wide range of markets including Forex, stocks, indices and commodities through MT4 or MT5.

Score

4.1 / 5

Platforms

MT4, MT5, Currenex, Copy trading

Regulators

Cyprus (EU), Kenya, Seychelles, South Africa, St. Vincent & the Grenadines, UAE

FXCC

FXCC.com is a regulated offshore broker with an ECN trading environment. Trade CFDs on over 100 instruments with leverage up to 1:500, only on MT4. FXCC allows all trading styles and EAs.

Score

4.0 / 5

Platforms

MT4

Regulators

Cyprus (EU), Nevis

JustMarkets

Trade CFDs on over 250 instruments with high leverage through JustMarkets.com. JustMarkets accepts all trading styles and Expert Advisors on MetaTrader 4 and 5. It provides a good trading environment, but customer support is underwhelming.

Score

4.0 / 5

Platforms

MT4, MT5, Copy trading

Regulators

Cyprus (EU), Seychelles

Risk warning: Margin trading in the financial markets is speculative and implies a high level of risk, including full loss of deposit.

LiteFinance

Trade CFDs on a wide range of markets on MetaTrader 4 and 5, with leverage up to 1:1,000 through LiteFinance.com. This broker accepts all EAs and trading styles, including scalping and news trading. Earn up to 2.5% interest on your balance.

Score

3.9 / 5

Platforms

MT4, MT5, cTrader, Copy trading

Regulators

Cyprus (EU), St. Vincent & the Grenadines

Risk warning: 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

NordFX

NordFX.com is a fully offshore Forex broker serving traders since 2008. Trade 33 currency pairs, crypto and more with flexible leverage up to 1:1000 on MetaTrader 4. Start trading in minutes without ID checks.

Score

3.4 / 5

Platforms

MT4, Copy trading

Regulators

Vanuatu

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