My 5 Best Forex Brokers in Nigeria

@yokoyi - 1 year ago - Forex Brokers

Based on my personal experience I will say these are my top 5 forex brokers in Nigeria:

1. AvaTrade

Pros: Fixed spread, Good customer support, Advanced trading software

Cons: High minimum deposit of $100, No Naira account currency

2. Tickmill

Pros: Execution speed, Platform stability, MT5 support kits

Cons: No Naira account currency, High minimum deposit of $100

3. HF Markets

Pros: Naira account currency, HFM Wallet, Customer support, Stable & transparent spread

Cons: Platform stability, High spread

4. FxPro

Pros: Naira account, FxPro Wallet, Platform stability

Cons: High spread, Customer support

5. Exness

Pros: Naira account, Platforms

Cons: Spread is not transparent, Customer support is poor

@lawanf - 1 year ago

I think Just Markets should be on this list.

Yes, AvaTrade is a really good forex broker but what is it with the $100 minimum deposit? Many forex brokers who use to have a $100 minimum deposit for Nigerian traders have since faced reality and reduced it.

FxPro has cut their minimum deposit from $100 to N5,000 (Standard Account)

Tickmill has also cut their minimum deposit from $100 to N30,000 (for both Standard & Raw Account)

@vickyjoseph - 1 year ago

To be fair, Tickmill Nigeria has reduced their minimum deposit to N30,000 & most may not know that this N30k minimum deposit is for both Tickmill Standard & Raw Spread Account.

This is one of the cheapest Raw Spread Accounts I have seen with any broker.

Personally, I am going to open a Raw Spread Account with Tickmill because I heard they are a very transparent broker who don't play tricks.

@sandy20 - 1 year ago

HFM is my broker and I'm glad it made your list bro. On HFM I currently trade with a Premium Account and though the spreads are high, I still get to make a decent profit on a good day.

@amosglad01 - 1 year ago

Quoted - sandy20

HFM is my broker and I'm glad it made your list bro. On HFM I currently trade with a Premium Account and though the spreads are high, I still get to make a decent profit on a good day.

My best forex broker in Nigeria is Tickmill. I use their Raw Spread Account and I have not had any issues with them trying to cheat me by manipulating prices. The only issue I have with Tickmill is their overly strict adherence to KYC when opening account and their customer service is based abroad (its not localized). Tickmill could get Nigerian account managers to handle Nigerian clients

@yokoyi - 1 year ago

Quoted - amosglad01

Does anyone know what's happening with Octafx Nigeria? Theyy used to be an okay forex broker.

@josiah_edem - 1 year ago

Trade Nation seems great for Nigeria, they have low spreads, eurusd is 0.6 pips. They also have no minimum depoisit but their minimum withdrawal is 50 EUR.

@kyle9320 - 6 months ago

Ty mate

@kemi_allen_omevia - 6 months ago

Tickmill is a no no! they do not have instant withdrawals which is a turn-off for me

@benson_emlembe - 5 months ago

AvaTrade should not be on this list, broker is freakin expensive!!! Remove AvaTrade and replace them with FXTM cos FXTM minimum deposit for Nigerians is just N7,000.

@benson_emlembe - 4 months ago

Quoted - benson_emlembe

AvaTrade should not be on this list, broker is freakin expensive!!! Remove AvaTrade and replace them with FXTM cos FXTM minimum deposit for Nigerians is just N7,000.

Add Trade Nation to your list

@josiah_edem - 1 month ago

Quoted - kemi_allen_omevia

Tickmill is a no no! they do not have instant withdrawals which is a turn-off for me

Tickmill would have been great but they lack proper localized support for Nigeria

@titi_nwa - 3 days ago

Headway broker because of their no-deposit bonus, naira accounts, and competitive spread. But wait, they have their flaws too, their customer support is not the best.