Top 5 Forex brokers in Nigeria

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Where a lot of African countries used to be restricted from the services of numerous Forex brokers, there are a substantial amount that are welcoming traders from Nigeria in registering for a live trading account.

1.  Plus500

As a multi-regulated ECN and STP broker, Plus500 offers Nigerian traders with access to over 2,000 financial instruments which are spread across a variety of asset classes and financial markets.

There is a minimum deposit requirement of $100 and traders can expect average spreads from 0.6 on EUR/USD and the benefit of zero-commission charges when executing trades.

In addition, Plus500 also offers traders with various promotions and bonuses, adequate leverage up to 1:300, and dedicated 24/7 multilingual customer support.

2.  BD Swiss

BD Swiss is a well-regulated and reputable Forex Broker that requires a $200 minimum deposit when registering a live account and offers Nigerian traders with both comprehensive and competitive trading conditions.

Nigerian traders are offered with variable and raw spreads from 0.4 pips with competitive commission fees, adequate leverage of up to 1:400, and a variety of financial instruments which can be traded through reliable, powerful trading platforms.

3.  Exness

Exness is a popular and well-regulated broker which offers Nigerian traders with access to a wide variety of financial instruments across various assets with minimum deposit requirements which start from as little as $1.

The leverage that traders can expect is up to 1:2000, spreads from 0.0 pips on the Raw Spread Account, and low fixed commissions from $3.5 per lot per side.

In addition, traders are not subjected to any additional broker fees such as inactivity fees or fees pertaining to account maintenance or management.


As a well-regulated STP broker based in Australia, Cyprus, and South Africa, offers Nigerian traders with competitive trading conditions and access to over 2,000 tradable financial instruments.

The minimum deposit requirement is $100 when registering a live account, and Nigerian traders can expect average spreads from 0.6 pips on EUR/USD and the benefit of commission-free trading along with adequate leverage of 1:300.

5.  Tickmill

Tickmill is renowned as an ECN and STP Forex broker in catering more than adequately for both retail and institutional clients by offering superb trading solutions and services along with access to numerous financial markets and more than 80 financial instruments.

When registering a live trading account, Nigerian traders are subjected to a $100 minimum deposit and the trading conditions consist of average spreads from 0.0 pips, commissions from $1 and access to leverage of up to 1:500.

Final Thoughts

The world of Forex trading is rapidly growing as new traders enter the market. It is ever-expanding and Nigerian traders have endless opportunities to trade Forex across a multitude of reliable, powerful, user-friendly trading platforms.

The abovementioned list of Forex brokers offers Nigerian traders with competitive trading conditions along with trading solutions which cater for the trading needs and objectives of a variety of traders despite their level of trading experience.

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