4 Best Forex Brokers in Nigeria for 2026
Updated: Oct 21, 2026
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What changed in this update
Finding the right forex broker can be tough, especially with every platform claiming to offer the tightest spreads, lowest fees, and advanced features. So I completely understand if you have no idea where to start and have no idea which platform you should trust with your hard-earned money.
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Scoring categories- How this list works. Our editors choose brokers that meet this page's criteria and impressed us in testing. The list is not in score order. Brokers pay to appear on our site, which can affect which brokers we feature and where. No broker can pay to change a score or a verdict.
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Luckily, you’re in the right place. I have over 7 years of trading experience, and I’ve been reviewing trading platforms with FXEmpire for almost two years. So I have a pretty good idea of what to look for when picking a new broker, whether that’s low spreads, support for NGN, or Islamic swap-free accounts.
Since every trader is different and has different needs, I came up with several categories based on the different types of Nigerian traders. I’ve then given my top pick for each category, along with some pros and cons to help you find the best broker for you.
List of Top Forex Brokers in Nigeria
Intuitive Exness Terminal platform. MT4 and MT5. Copy trading. Low spreads on forex, gold, oil, and Bitcoin. Supports NGN as base currency. Maximum leverage of 1:2000.
Low spreads and commissions. Raw-spread trading accounts. No requotes or strategy restrictions. MetaTrader 4, MetaTrader 5, cTrader, TradingView. VPS hosting. IC Social and ZuluTrade for copy and social trading.
MT4, MT5, cTrader, TradingView. Iress and Mottai for DMA trading. 970+ CFD. 10,000+global stocks. Low spreads on forex, indices, and Bitcoin. Multi-manager MAM and PAMM accounts. Algorithmic trading solutions.
DupliTrade and AvaSocial for social/copy trading. 1450+ assets. MT4, MT5, Ava Web Trader, and AvaTrade App. Educational articles, courses, and webinars. Trading Central and in-house research.*
*AvaTrade doesn’t allow CFD trading in Spain; only Futures are available.
Compare All Listed Brokers
| Broker | Score | Fees Score | Min Deposit | Max Leverage | Platforms | Visit Broker |
|---|---|---|---|---|---|---|
 Exness | 4.6 | 4.6 | $10 | 1:2000 (FSCM) 1:100 (JSC) · 1:1000 (BVI FSC) · 1:400 (CMA) · 1:2000 (FSCA) · 1:2000 (FSA) · 1:30 (CySEC) · 1:2000 (CBCS) · 1:30 (FCA) | MT5, MT4, Exness Terminal | General 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. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs. |
 IC | 4.8 | 5.0 | $0 | 1:30 (ASIC) 1:400 (CMA) · 1:200 (SCB) · 1:5000 (FSA) · 1:30 (CySEC) | MT5, cTrader, MT4, TradingView, Zulutrade | Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. |
 FP Markets | 4.6 | 4.1 | $0 | 1:500 (FSA) 1:500 (FSCM) · 1:500 (Unregulated) · 1:500 (FSCA) · 1:400 (CMA) · 1:30 (ASIC) | MT5, cTrader, IRESS, MT4, Mottai, TradingView | Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested. |
 AvaTrade | 4.5 | 4.2 | $100 | 1:400 (FSCA) 1:400 (ADGM) · 1:30 (ASIC) · 1:200 (BVI FSC) · 1:25 (JFSA) · 1:30 (ISA) · 1:30 (CySEC) · 1:30 (CBI) | AvaOptions, AvaSocial, MT5, Proprietary, MT4, DupliTrade, Ava Web Trader, AvaTrade App | Trading CFDs and FX Options entail risk and could result in the loss of your capital. |
How Did FXEmpire Choose the Best Forex Brokers in Nigeria?
- Licensing and regulatory compliance are key when choosing a broker. Holding licenses in leading regions ensures platforms are reliable, store user assets securely, and comply with global financial regulations. That’s why I focused on platforms that are either licensed directly in Nigeria or leading regions like the EU, UK, or US.
- Support for Nigerian Naira (NGN) makes it easier to fund your account and start trading. It also means you can avoid paying costly fiat conversion fees to make deposits in USD or EUR. Being able to make deposits via local payment methods makes platforms more accessible and user-friendly to Nigerian users.
- Availability of Islamic swap-free accounts is important if you are a Muslim and need a broker that offers accounts that comply with Islamic laws and beliefs. These accounts let you trade and hold positions without paying or earning interest on your positions.
- Tight spreads with low commissions are key when picking a broker. Having high fees and commissions will eat into your profits and mean you get to keep less of your hard-earned money. That’s why I looked for brokers who offer near-zero spreads with competitive commissions.
- A user-friendly, modern platform with advanced trading features is a big bonus. That’s why I favored platforms that were easy to use but still offered access to advanced tools and features.
Best Overall
4.6
General 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. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.
- $10Min Deposit
- 293Tradable Instruments
- LowFees
Why We Picked It
Exness is one of the most popular brokers across the continent of Africa, thanks to its local payment rails that cover a range of African currencies, including Nigerian Naira. It also caters to a wide range of traders with standard and professional accounts, along with a wide selection of educational resources to help you if you’re new to trading.
- NGN is available as a base account currency, making Exness one of the only brokers to offer direct NGN support. This means you can avoid paying costly conversion fees to convert NGN into USD or EUR. Exness uses local Nigerian banks and fintechs to process deposits and withdrawals in NGN for maximum convenience.
- Exness offers low barriers to entry with minimum deposit amounts starting at just 10 USD. You can also choose from a range of account types, including Standard, Raw Spread, and Zero, offering spreads as low as 0.0 pips on certain accounts.
- Licensing from leading financial authorities like the FCA and CySEC ensures Exness complies with strict financial regulations surrounding transparency and client fund segregation. While the broker is not licensed in Nigeria specifically, holding licenses from industry-leading regulators gives you complete peace of mind
Pros and Cons
Pros
- Leverage of up to 1:2000
- NGN is among trading pairs and available for deposits & withdrawals
- Islamic accounts for swap-free trading
- Competitive trading fees
Cons
- The selection of tradable assets could be more extensive.
Best Low Spreads
4.8
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
- $0Min Deposit
- 7342Tradable Instruments
- LowFees
Why We Picked It
IC Markets has been an industry leader when it comes to low spreads and fees for almost 20 years. It offers a range of markets covering forex, stocks, indices, crypto, and commodities. During our testing, we found the spreads were highly competitive, at just 0.6 using a Standard Account. If you want the most competitive fees in the industry without compromising on trading features, IC Markets is the broker for you.
- Industry-leading spreads on EUR/USD mean you get spreads as low as 0.8 pips when using IC Markets’ Standard account. While we recorded 18 cents in gold and $12 in BTCUSD, both of which easily beat the industry benchmark, thanks to the broker’s deep liquidity that pulls from over 25 different providers.
- Raw pricing with competitive commissions combines the low 0.1 pips spreads with zero commissions, and no requotes. These you can access via IC Markets’ Raw accounts. In our database, this is one of the most cost-effective pricing structures, which is more than suitable for high-volume trading.
- A pool of four industry-leading platforms includes MetaTrader 4, MetaTrader 5, cTrader, and TradingView. In addition, IC Markets provides tools like VPS hosting, Trading Central for signals and trading ideas, along with copy trading services like Myfxbook and ZuluTrade.
Pros and Cons
Pros
- Low spreads, zero commission and no requotes
- Over 2,200 CFD instruments
- NGN payments via PayPal, Skrill, Klarna, bank card & bank transfer
- Autochartist for automated technical analysis
Cons
- Advanced features might overwhelm some beginners.
Best for Professional Traders
4.6
Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
- $0Min Deposit
- 10180Tradable Instruments
- MediumFees
Why We Picked It
From my experience, FP Markets is one of the leading platforms for both managing client funds and advanced trading, thanks to its professional-grade trading platform. They’ve been in the business for over 20 years, so they know exactly which tools and features serious traders look for, and they’ve built a platform that meets all the needs of advanced traders and money managers.
- Six trading platforms make FP Markets perfect if you’re a serious trader looking for advanced trading tools and features. You can choose between MetaTrader 4, MetaTrader 5, cTrader for CFD trading, along with the Ireess and Mottai platforms that give you access to over 10,000 real stocks and ETFs
- Zero-spread raw accounts with support for MAM and PAMM means FP Markets is geared towards professional traders and traders managing client funds. Multi Account Management and Percentage Allocation Management are tools that aren’t available on all brokers, but make FP Markets ideal if you’re a money manager.
- Strong regulatory compliance makes FP Markets a great option if you want a secure platform that makes you feel comfortable managing client funds. You’ll be pleased to hear it’s licensed by both ASIC in Australia and CySEC in Cyprus, so you can be sure it’s a stable and reliable platform that you can trust to manage large accounts.
Pros and Cons
Pros
- 970+ CFD trading instruments
- Raw spread and Islamic swap-free accounts
- Iress amd Mottai platform for DMA trading
- Professional money manager accounts
Cons
- Nigerian traders open an account with the entity in St. Vincent and the Grenadines which is unregulated.
Best for Social And Copy Trading
4.5
Trading CFDs and FX Options entail risk and could result in the loss of your capital.
- $100Min Deposit
- 1472Tradable Instruments
- MediumFees
Why We Picked It
AvaTrade is my personal favorite broker for copy trading. It’s been running for two decades across over 150 countries worldwide. Its range of social and copy trading features, including integration with several copy trading platforms, makes it an ideal platform if you’re new to trading and want to start out by copying trades from experienced lead traders.
- Having three different copy trading platforms gives you the flexibility to choose the platform that suits you best. AvaTrade lets you copy trade using its own AvaSocial app, DupliTrade, and MetaTrader signals market, letting you decide which one you want to use based on your own preferences.
- A wide range of over 1,450 CFD instruments is available from a single retail account. These include forex pairs, commodities, shares, ETFs, indices, and cryptocurrencies. Plus, AvaTrade gives access to 2 bonds and 80+ FX options.
- The AvaProtect risk management tool is key if you want a safety net to help manage positions you’ve opened through copy trading. If you want a bit of extra protection, you can take out short-term insurance to cover your position against losses for a set period of time. It will cost you a small upfront hedging fee, but if you’re taking a risky trade, it could be worth the reward.
Pros and Cons
Pros
- Great range of trading software
- Low spreads on forex and commodities
- Bonds and FX options
- Islamic account options
Cons
- Limited range of payment methods
All Brokers That Accept Clients from Nigeria
Every broker we reviewed that accepts Nigeria residents, ranked by FXEmpire score. The regulator and leverage are those of the entity that opens accounts for clients from Nigeria.
| Broker | Entity for Nigeria | Max Leverage | Score | Fees Score | Min Deposit | Platforms | Visit Broker |
|---|---|---|---|---|---|---|---|
Raw Trading Ltd FSA Seychelles | 1:5000 | 4.8 | 5.0 | $0 | MT5, cTrader, MT4, TradingView, Zulutrade | Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. | |
IG International Limited BMA Bermuda | 1:200 | 4.7 | 3.8 | $50 | MT4, ProRealTime, L2 Dealer, TradingView, IG Online Platform | 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money | |
Pepperstone Markets Limited SCB Bahamas | 1:200 | 4.7 | 4.4 | $0 | MT5, cTrader, MT4, TradingView, Pepperstone WebTrader, Pepperstone Mobile App | 73–89% of retail investor accounts lose money when trading CFDs. | |
Exness (SC) Ltd FSA Seychelles | - | 4.6 | 4.6 | $10 | MT5, MT4, Exness Terminal | General 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. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs. | |
First Prudential Markets Limited FSA Seychelles | 1:500 | 4.6 | 4.1 | $0 | MT5, cTrader, IRESS, MT4, Mottai, TradingView | Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested. | |
Moneta Markets Ltd FSA Seychelles | 1:500 | 4.6 | 4.5 | $50 | MT5, MT4, ProTrader, App Trader, Copytrader App | Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how Derivatives work and whether you can afford to take the high risk of losing your money. Trading derivatives is risky. It isn't suitable for everyone; you could lose substantially more than your initial investment. You don't own or have rights to the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't consider your personal objectives, financial circumstances, or needs. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. | |
Vantage Global Limited VFSC Vanuatu | 1:2000 | 4.6 | 4.4 | $50 | MT4, MT5, TradingView, Vantage App, Vantage Web Trading | Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions. | |
Ava Trade Markets Ltd BVI FSC Virgin Islands, British | 1:200 | 4.5 | 4.2 | $100 | AvaOptions, AvaSocial, MT5, Proprietary, MT4, DupliTrade, Ava Web Trader, AvaTrade App | Trading CFDs and FX Options entail risk and could result in the loss of your capital. | |
Capital Com Online Investments Ltd SCB Bahamas | 1:200 | 4.5 | 4.1 | $20 | MT4, TradingView, Capital.com Web Trader, Capital.com App, MT5 | Depending on the company, 70% of retail investor accounts lose money when trading CFDs with Capital.com Group. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
GAIN Global Markets Inc. CIMA Cayman Islands | 1:250 | 4.5 | 3.7 | - | MT4, WebTrader | 72.5% of retail investor accounts lose money when trading CFDs with this provider. | |
Gleneagle Securities Pty Limited VFSC Vanuatu | 1:500 | 4.5 | 4.4 | $0 | MT4, MT5, cTrader, TradingView, DupliTrade | All financial products involve risk and you should ensure you understand the risk involved as certain financial products may not be suitable for everyone. Trading in margin foreign exchange and derivatives carries a high level of risk and you may incur a loss that is far greater than the amount you invested. Past performance of any product described on this website is not a reliable indication of future performance. | |
Hantec (Seychelles) Services Limited FSA Seychelles | 1:1000 | 4.5 | 4.2 | $10 | MT4, MT5, Hantec Mobile, Hantec Web Trader | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
MEX Atlantic Corporation CIMA Cayman Islands | 1:1000 | 4.5 | 4.0 | $50 | MT5, MT4, MultiBank App | All forms of investment carry risk including an investor not recovering the amount invested. These services may not be suitable to all. | |
Startrader Financial Markets Limited FSCM Mauritius | 1:1000 | 4.5 | 4.5 | $50 | MT5, MT4, STARTRADER App | All investments entail risks and may result in both profits and losses. I | |
VT Markets Limited FSCM Mauritius | 1:1000 | 4.5 | 4.5 | $100 | MT5, MT4, VT Markets app, TradingView | Trading CFDs carries a high level of risk and may not be suitable for all investors. Leverage in CFD trading can magnify gains and losses, potentially exceeding your original capital. It’s crucial to fully understand and acknowledge the associated risks before trading CFDs. Consider your financial situation, investment goals, and risk tolerance before making trading decisions. Past performance is not indicative of future results. Refer to our legal documents for a comprehensive understanding of CFD trading risks. | |
XTB International Limited IFSC Belize | 1:500 | 4.5 | 4.3 | $0 | xStation 5 | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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 Global Markets Ltd SCB Bahamas | 1:200 | 4.4 | 3.6 | $0 | MT5, cTrader, MT4, FxPro Trading Platform, FxPro Mobile App, TradingView | 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing money. (EU, UK) | |
Notesco (BVI) Limited BVI FSC Virgin Islands, British | 1:2000 | 4.4 | 4.0 | $50 | MT4 | Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. | |
Tickmill Ltd FSA Seychelles | 1:1000 | 4.4 | 4.0 | $100 | MT5, MT4, Tickmill Trader | Trading Contracts for Difference (CFDs) on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade Contracts for Difference (CFDs), you should carefully consider your trading objectives, level of experience and risk appetite. It is possible for you to sustain losses that exceed your invested capital and therefore you should not deposit money that you cannot afford to lose. Please ensure you fully understand the risks and take appropriate care to manage your risk. | |
Trademax Global Limited VFSC Vanuatu | 1:1000 | 4.4 | 4.1 | $100 | MT4, MT5, TMGM Mobile App, HubX | 80.26% of retails CFD accounts lose money. | |
XM (SC) Limited FSA Seychelles | 1:1000 | 4.4 | 3.1 | $5 | MT5, MT4, XM Web Platform, XM Mobile App | Forex and CFD trading involves significant risk to your invested capital. | |
ActivMarkets Ltd FSCM Mauritius | 1:1000 | 4.3 | 3.4 | $0 | MT5, MT4, ActivTrader, TradingView | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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. | |
AT Global Markets Intl Ltd FSCM Mauritius | 1:500 | 4.3 | 3.2 | $50 | MT4, MT5, ATFX Trading App | Trading Foreign Exchange (Forex) and Contracts for Differences (CFDs) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. | |
IUX Markets (MU) LTD FSCM Mauritius | 1:3000 | 4.3 | 4.9 | $30 | MT5, IUX Web Trade, IUX App Trade | This website is not designed to encourage or promote trading activities. Please note that leveraged margin trading and binary options carry significant risks, including the potential for rapid financial losses. | |
Just Global Markets Ltd FSA Seychelles | 1:3000 | 4.3 | 4.4 | $10 | MT5, MT4, JustMarkets App | Your capital is at risk. | |
Royal CM Limited VFSC Vanuatu | 1:1000 | 4.3 | 3.5 | $0 | MT4, MT5 | Your capital is at risk. | |
PXBT Trading Ltd FSA Seychelles | 1:2000 | 4.3 | 3.8 | $0 | MT5, PrimeXBT Mobile App, PXTrader 2.0 | Crypto Futures and CFDs products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. | |
PU Prime Ltd FSCM Mauritius | 1:1000 | 4.3 | 3.6 | $20 | MT5, MT4, PU Prime App, PU Web Trader, PU Copy Trading | Trading Contracts for Difference (CFDs) involves a high level of risk and may not be suitable for all traders. | |
Zenfinex Global LLC FSA Seychelles | 1:2000 | 4.3 | 3.4 | $9 | MT5, MT4, Taurex Trading App, Brokeree, Pelican | Trading in financial instruments carries a high level of risk and may not be suitable for all investors. The value of your investments may fluctuate and you may lose all of your invested capital, especially due to leverage. | |
YWO (CM) Ltd MISA Comoros | 1:1000 | 4.3 | 4.4 | $10 | MT5 | Trading our products involves margin trading and carries a high level of risk, including the potential loss of your entire capital. These products may not be suitable for all investors. You should fully understand the risks involved before trading. | |
DB Invest Limited FSA Seychelles | 1:1000 | 4.2 | 2.3 | $50 | MT5, DB Investing App | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
Elev8 Markets Ltd FSCM Mauritius | 1:2000 | 4.2 | 4.1 | $20 | MT5, MT4, Elev8Trader | Elev8's services relate to complex derivative products that are traded over the counter. Trading with leverage involves a high level of risk and may not be suitable for all investors. Investing carries risks, and individuals should carefully consider their investment objectives, level of experience, and risk tolerance before making any investment decisions. | |
Errante Securities (Seychelles) Ltd FSA Seychelles | 1:1000 | 4.2 | 3.6 | $50 | MT5, cTrader, MT4, TradingView, Errante App | FX and CFDs trading involves a high risk of loss | |
FP Trading Ltd FSRA Finland | 1:500 | 4.2 | 4.7 | - | MT4, MT5, cTrader | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. There is a possibility to lose all your initial capital. The legal documents should be considered before entering into transactions with us. | |
Central Clearing Ltd MISA Comoros | 1:1000 | 4.2 | 4.4 | $0 | MT4, MT5 | Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose all the initial capital invested. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. | |
Gleneagle Securities Pty Limited VFSC Vanuatu | 1:2000 | 4.2 | 4.0 | $50 | MT4, MT5, FXT WebTrader, FXTrading App | Any advice included in this website or correspondence is general advice only and is based solely on consideration of the investment or trading merits of the financial products alone, without taking into account the investment objectives, financial situation and particular needs (i.e. financial circumstances) of any particular person. Before making an investment or trading decision based on the advice, the recipient should carefully consider the appropriateness of advice in light of his or her financial circumstances and should carefully review the Product Disclosure Statement regarding the relevant financial product as provided by your investment broker. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring derivative products, you have no entitlement, right or obligation to the underlying financial asset. | |
Formula Investment House Ltd BVI FSC Virgin Islands, British | 1:400 | 4.2 | 2.7 | $100 | iFOREX Platform | Not investment advice; Capital at Risk; T&C apply. | |
Mitrade International Ltd FSCM Mauritius | 1:200 | 4.2 | 3.8 | $20 | Mitrade Trading Platform, Mitrade Mobile App | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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. | |
First Interstellar Global Ltd FSA Seychelles | 1:500 | 4.1 | 3.2 | $0 | MT4, MT5, FISG App | Forex and CFD trading involve a significant risk to your invested capital. Please read and ensure you fully understand our Risk Disclosure. Trading foreign exchange and leveraged financial products has high risks and may cause you to lose your principal. You should not take the risk of loss more than you can afford and please ensure that you fully understand the risks involved. Trading leveraged products is not suitable for all investors. Trading unleveraged products such as shares also involves risk as the value of shares can go down as well as up, meaning you may get back less money than you originally invested. Past performance is no guarantee of future results. Before trading, please consider your level of experience, investment objectives and seek independent financial advice if necessary. It is the customer’s responsibility to ensure that the legal requirements of his/her country of residence allow him/her to use the services provided by the Interstellar Financial Group Limited. | |
Exinity Limited FSCM Mauritius | 1:3000 | 4.1 | 3.1 | $100 | MT5, MT4, FXTM Trader App | Online Forex/CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading Online Forex/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. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of Exinity Capital East Africa Ltd based on the legal requirements in his/her country of residence. | |
TIO Markets Ltd MISA Comoros | 1:1000 | 4.1 | 3.8 | $20 | MT4, MT5 | Trading on margin comes with a high risk of losing money rapidly due to leverage. You should consider whether you understand how margin trading works and whether you can afford to take the high risk of losing your money. Never deposit more than you are prepared to lose. | |
Alchemy International Ltd FSA Seychelles | 1:500 | 4.0 | 3.2 | $1000 | MT4, MT5, TradingView | All instruments offered by Alchemy Markets are traded as CFDs. We offer only commission-free trading on Forex, Indices, and Metals for Classic, Premier and Demo accounts. For more information on our charges on other account types and products including Crypto CFDs and Stock CFDs, you can visit our product pages and sheets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with us. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
AMarkets LTD MISA Comoros | 1:3000 | 4.0 | 2.4 | $100 | MT5, MT4, AMarkets App | Your capital is at risk | |
Doto Global Ltd FSCM Mauritius | 1:500 | 4.0 | 3.4 | $15 | MT4, MT5, Doto Platform | Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. | |
Trade Set Go Ltd FSA Seychelles | 1:400 | 4.0 | 4.5 | $96 | TSG Trade Web, TSG Trade Mobile App, MT5 | Trading in CFDs, involves a high level of risk. 77.95% of retail investor accounts lose money when trading CFDs with this provider. It is possible to lose all your invested capital. Such financial products may not be suitable or allowed for you, and you should consider such restrictions and whether you understand how CFDs work and all the risks involved. | |
4xCube Ltd FSC CA Cook Islands | 1:500 | 3.9 | 3.6 | $50 | MT5, MT4 | Online trading with margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. For clients who maintain account(s) with 4XC, retail clients could sustain a total loss of deposited funds but are not subject to subsequent payment obligations beyond the deposited funds and professional clients could sustain losses in excess of deposits. Prior to trading any products offered by 4XC, any affiliates of aforementioned firms, or other firms within 4XC of companies [collectively the “4xCube Ltd”], carefully consider your financial situation and experience level. 4xCube Ltd may provide general commentary which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. 4xCube Ltd assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. Read and understand the Terms and Conditions on 4xCube Ltd websites prior to taking further action. | |
MAIV Limited FSA Seychelles | 1:2000 | 3.9 | 3.5 | $50 | MT5, Rock-West App | CFDs are Leveraged Financial Instruments, and trading them carries a high level of risk. It is possible to lose all your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Past performance is not a reliable indicator of future performance. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs and/or any other financial instruments. Please read our full Risk Disclosure policy and the Client Agreement. | |
Evalanch Ltd FSA Seychelles | - | 3.9 | 3.9 | $10 | MT5 | “Contract for Differences” (CFDs) are usually leveraged products. Trading Over-The-Counter (OTC) CFDs related to commodities, Forex, Indices and Shares, carries a high level of risk and can result in the loss of all of your investment. As such, CFDs may not be appropriate and/ or suitable for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should be aware of all the risks associated with OTC CFDs trading, and seek advice from an independent and suitably licensed financial advisor. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. General information and/ or recommendations provided by the Company should not be interpreted as investment advice. For more information please visit our General Risk Disclosure Policy. Disclaimer: Information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. | |
Versus Trade Ltd FSCM Mauritius | 1:2000 | 3.8 | 4.3 | $10 | MT5 | It is hereby warned that engagement in the trade of CFDs and/or other services are accompanied by considerable risk and the potential loss of funds and under no circumstances shall Versus Trade be held liable for such. Access to this website is made with clear understanding of the risks. No element present on this website shall be interpreted as investment advice or invitation to engage in services. | |
DLS Markets Limited VFSC Vanuatu | - | 3.7 | 4.1 | $100 | MT5, MT4, DLSM GO App | Investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all traders. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlying assets. | |
Anzo Capital Limited (SVG) LLC | 1:1000 | 3.6 | 3.6 | $50 | MT4, MT5 | Investing in leveraged products carries significant risks and is not suitable for all investors. You could lose more than your deposits. | |
Equitex Capital Limited FSA Seychelles | 1:500 | 3.6 | 3.0 | $100 | MT5 | Over-the-counter derivatives are complex instruments and come with a high risk of losing your initial capital rapidly due to leverage. You should consider whether you understand how over-the-counter derivatives work and whether you can afford to take the high level of risk to your capital. Investing in over-the- counter derivatives carries significant risks and is not suitable for all investors. | |
TradeSmart Capital Limited | 1:2000 | 3.3 | 4.5 | $50 | MT5 | Trading Forex and CFDs carries a high level of risk to your capital, and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. | |
DuraMarkets Ltd MISA Comoros | 1:500 | 3.2 | 3.9 | $10 | MT5, MT4 | CFDs and margin trading carry a very high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any amount due from your end, in the course of trading. Hence, you should ensure that you’ve fully understood the risks involved and invest the amount that you are willing to lose. |
This guide covers brokers that accept clients from Nigeria. For the full ranking across all countries, see our best forex brokers worldwide.
Best Forex Brokers in Other African Countries
Each guide ranks the brokers we tested that accept clients in that country, under its own regulation.
| Africa |
| Best Forex Brokers in Egypt | Best Forex Brokers in Kenya | Best Forex Brokers in South Africa |
Not from Nigeria? See the best forex brokers worldwide or all our country guides.
Where to Go Next
More of our best-broker guides, grouped by what you trade, the platform you use, how you trade and where you trade from.
What you trade
Platforms
How you trade
All the Brokers We Tested
See a list of all the brokers we tested and considered for this guide
4XC
3.9
ActivTrades
4.3
ADSS
4.3
AMarkets
4.0
Anzo Capital
3.6
ATFX
4.3
AvaTrade
4.5
Bullwaves
3.6
Capital.com
4.5
DB Investing
4.2
Deriv
4.4
DLSM
3.7
Doto
4.0
DuraMarkets
3.2
Elev8
4.2
Errante
4.2
eToro
4.2
eToro US
4.3
Exness
4.6
FISG
4.1
FP Markets
4.6
FP Trading
4.2
FXCC
4.2
FxPro
4.4
FXT
4.2
FXTM
4.1
Hantec
4.5
Headway
4.1
IC
4.8
iFOREX
4.2
IG
4.7
IronFX
4.4
IUX
4.3
JustMarkets
4.3
Libertex
4.3
LiteForex
3.9
Mitrade
4.2
OANDA
4.4
OANDA US
4.3
OneRoyal
4.3
Pepperstone
4.7
Plus500
4.3
Plus500 US
4.5
PrimeXBT
4.3
PU Prime
4.3
Rock-West
3.9
Spreadex
4.5
STARTRADER
4.5
Swissquote
4.3
tastyfx
4.4
Taurex
4.3
TenTrade
3.9
Tickmill
4.4
TIOmarkets
4.1
TMGM
4.4
Trade Set Go
4.0
TradeSmart
3.3
Trading 212
4.2
Trading.com
4.3
Vantage
4.6
Versus Trade
3.8
VT Markets
4.5
XM Group
4.4
XTB
4.5
YWO
4.3
Update History
Oct 21, 2026 · Ola Alder
We added links to our forex broker guides for other countries.
Sep 10, 2026 · Plamen Stoyanov
We moved the page to our new template, adding a summary card, a compare table of all listed brokers, a list of every broker we tested, and this update history.
Jul 7, 2026 · Dan Blystone
We removed IUX from the list.
Jun 15, 2026 · Ola Alder
We moved IUX to our Best for High Leverage category and removed the FAQ and "How to Choose a Forex Broker in Nigeria?" sections.
Dec 22, 2025 · Ola Alder
We removed FBS from the list.
Aug 21, 2025 · Dan Blystone
We removed Octa from the list and the "Our Methodology" section.
Jun 16, 2025 · Plamen Stoyanov
We re-added FBS to the list.
May 29, 2025 · Jitan Solanki
We removed FXTM from the list.
May 6, 2025 · Dan Blystone
We added IUX to the list.
Oct 28, 2024 · Jitan Solanki
We removed FBS from the list.
We change this page's date only for a material change, logged here. Typo fixes never change the date.
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About the Authors
Jitan SolankiBroker Analyst
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Shennon HewaCrypto Exchange Analyst
Shennon Hewa is a crypto trader and crypto journalist based in London. Active in the crypto space since 2017, he specializes in scalping, derivatives day trading, and swing trading. At FXEmpire, he has reviewed dozens of crypto exchanges and has extensive knowledge of platform strengths and weaknesses.
Amy JonesFinance Editor
Amy leads the prop trading area at FXEmpire, collaborating closely with industry experts to deliver insightful and trustworthy reviews. Her work ensures that readers gain transparent, reliable guidance in navigating the fast-evolving world of proprietary trading firms.
Aviva GurevichSenior Content Editor
Aviva is a Senior Content Editor at FXEmpire. Her substantial contributions include refining over 150 broker reviews and 'Best Brokers Guides,' enhancing our proprietary methodology, and ensuring every fact is meticulously verified.
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