Best Forex Brokers in Nigeria

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MAS
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VFSC
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Labuan FSA
FCA
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ASIC
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Online forex trading is relatively new in Nigeria and there are no specific rules or requirements regulating this activity. Therefore, the Association of Online Forex Trading has been formed to work closely with the Central Bank of Nigeria (CBN) to monitor and regulate this market. At present, it is better to choose an international forex broker that accepts clients from Nigeria and has oversight by one or more trustworthy forex regulators. By taking into account the minimum deposit, regulation, customer service, website languages, etc, we selected TOP 10 forex broker serviced in Nigeria.

Brokers

Best Forex Brokers in Nigeria

FP Markets

8.7 /10

70 Reviews

Founded: 2005

Min Deposit: 100.0 USD

Headquarters: Australia

Regulators: CySEC, ASIC, Seychelles FSA, FSCA

Pepperstone

6.3 /10

120 Reviews

Founded: 2010

Min Deposit: 200.0 USD

Headquarters: Australia

Regulators: DFSA, BaFin, Bahamas SCB, Kenya CMA, ASIC, FCA, CySEC

EightCap

7.9 /10

94 Reviews

Founded: 2009

Min Deposit: 100.0 USD

Headquarters: Australia

Regulators: Bahamas SCB, VFSC, ASIC, FCA

IC Markets

8.9 /10

99 Reviews

Founded: 2007

Min Deposit: 200.0 USD

Headquarters: Seychelles

Regulators: Bahamas SCB, Seychelles FSA, ASIC, FCA, CySEC

EC Markets

7.0 /10

51 Reviews

Founded: 2011

Min Deposit: 10.0 USD

Headquarters: United Kingdom

Regulators: FCA, ASIC, Mauritius FSC, Seychelles FSA, NZ FMA

FXTM

8.9 /10

210 Reviews

Founded: 2011

Min Deposit: 200.0 USD

Headquarters: Mauritius

Regulators: FSCA, Kenya CMA, Mauritius FSC, FCA

Avatrade

5.6 /10

125 Reviews

Founded: 2006

Min Deposit: 100.0 USD

Headquarters: Ireland

Regulators: ASIC, FCA, ISA, FSRA, CBI, Japan FSA, FSCA, BVI FSC

MultiBank Group

8.0 /10

35 Reviews

Founded: 2005

Min Deposit: 50.0 USD

Headquarters: United States of America

Regulators: ASIC, VFSC, Seychelles FSA, CIMA, BVI FSC, BaFin, MAS, Austria FMA, CySEC, SCA

TMGM

8.9 /10

16 Reviews

Founded: 2013

Min Deposit: 100.0 USD

Headquarters: Australia

Regulators: ASIC, Mauritius FSC, VFSC

Doo Prime

6.9 /10

61 Reviews

Founded: 2014

Min Deposit: 100.0 USD

Headquarters: Vanuatu

Regulators: Labuan FSA, Seychelles FSA, VFSC, Mauritius FSC, ASIC, FCA

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Ranking

Kenya

Kenya residents are increasingly familiar with forex trading. Since Kenya’s retail investment market is notorious for financial pyramid schemes, finding a regulated forex broker is especially important. The regulatory body of Kenya is Capital Markets Authority (CMA). However, this authority didn’t issue its first license until 2018. And now three forex brokers are regulated by CMA. Many other well-regulated international brokers are also seeking opportunities in this region. By taking into account the minimum deposit, regulation, customer service, website languages, etc, we selected TOP 10 forex broker serviced in Kenya.

South Africa

Forex trading in South Africa is gaining popularity, which is driven by the economic potential and tech-savvy young population. Many international brokers with EU or other strict regulation are offering forex trading service in this region. They’re also seeking an operation license from local regulatory body Financial Sector Conduct Authority (FSCA), in a nod to the growth potential for forex trading in this region. By taking into account the minimum deposit, regulation, customer service, website languages, etc,we select TOP 10 forex broker serviced in South Africa.

Egypt

As the largest arabic-speaking country, Egypt has a huge market potential for the forex industry. However, the regulatory body - Egyptian Fiancial Supervisory Authority(EFSA) is rather new since it was established on 2009. The Authority doesn’t prohibit foreign entities from providing forex trading services for local residents. By taking into account the minimum deposit, regulation, customer service, website languages, etc., we select TOP 10 forex brokers serviced in Egypt.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.