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top 10 forex brokers in Nigeria
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money.
Spreads are critical in determining a trader’s profits, so they will be among the most important considerations when choosing a broker. The brokers below were selected for their low trading costs but also because they are well-regulated and have excellent trading platforms and trading tools.
| Rank | Broker | Review | Regulators | Min. Deposit | Official Site |
|---|---|---|---|---|---|
| 1. |  | Read Review | IFSC | $1 |  |
| 2. |  | Read Review | CySEC, ASIC, FSCA | $100 | |
| 3. |  | Read Review | FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC | $10 | |
| 4. |  | Read Review | FSA (SVG), CySec | $50 | |
| 5. |  | Read Review | FCA, CySEC, FSCA, SCB | $100 | |
| 6. |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | $100 | |
| 7. |  | Read Review | FSA (SVG), FSA (Seychelles | $10 | |
| 8. |  | Read Review | CySEC, FSA, FCA, FSCA, DFSA, CMA | $5 | |
| 9. |  | Read Review | FSC (British Virgin Islands) | $1 | |
| 10. |  | Read Review | CySec, FSCA | $10 | |
| 11. |  | Read Review | IFSC | $10 | |
Minimum Deposit
$1
Regulators
IFSC
Maximum Leverage
1:1000
Minimum Spread
0.0 Pips
Platforms
MT4
Islamic Account
Yes
Total Pairs
300
Copy Trading
Yes
Crypto
Yes
Bonus Types
50% Deposit Bonus
Year Founded
2013
Deposit/Withdrawal
Minimum Deposit
$100
Regulators
CySEC, ASIC, FSCA
Maximum Leverage
1:500
Minimum Spread
0.0 Pips
Platforms
MetaTrader 4, MetaTrader 5, Iress Trader, cTrader
Islamic Account
Yes
Total Pairs
70+
Copy Trading
Yes
Crypto
Yes
Bonus Types
No Deposit Bonus
Year Founded
2006
Deposit/Withdrawal
Minimum Deposit
$10
Regulators
FSCA, FSA, CySEC, FCA,
CBCS, FSC (BVI), FSC (Mauritius)
Maximum Leverage
1:Unlimited
Minimum Spread
0.0 Pips
Platforms
MT4, MT5, WebTrader, Excess Terminal
Islamic Account
Yes
Total Pairs
97
Copy Trading
Yes
Crypto
Yes
Bonus Types
No Sign-Up Bonus
Year Founded
2008
Deposit/Withdrawal
Minimum Deposit
$50
Regulators
FSA (SVG), CySec
Maximum Leverage
1:500
Minimum Spread
0.0 Pips
Platforms
MT4, MT5, WebTrader
Islamic Account
Yes
Total Pairs
155+
Copy Trading
Yes
Crypto
Yes
Bonus Types
50% Deposit Bonus
Year Founded
2005
Deposit/Withdrawal
Minimum Deposit
$100
Regulators
FCA, CySEC, FSCA, SCB
Maximum Leverage
1:500
Minimum Spread
0.0 Pips
Platforms
MT4, MT5, CTrader
Islamic Account
Yes
Total Pairs
70+
Copy Trading
Yes
Crypto
Yes
Bonus Types
–
Year Founded
2006
Deposit/Withdrawal
Minimum Deposit
$100
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Maximum Leverage
1:500
Minimum Spread
0.0 Pips
Platforms
MetaTrader 4, MetaTrader 5
Islamic Account
Yes
Total Pairs
62
Copy Trading
Yes
Crypto
Yes
Bonus Types
$30 No Deposit Bonus
Year Founded
2014
Deposit/Withdrawal
Minimum Deposit
$10
Regulators
FSA (SVG), FSA (Seychelles)
Maximum Leverage
1:1000
Minimum Spread
0.0 Pips
Platforms
MT4
Islamic Account
Yes
Total Pairs
299+
Copy Trading
Yes
Crypto
Yes
Bonus Types
100% Deposit Bonus,
30% Tradable Bonus
Year Founded
2015
Deposit/Withdrawal
Minimum Deposit
$5
Regulators
CySEC, FSA, FCA, FSCA, DFSA, CMA
Maximum Leverage
1:2000
Minimum Spread
0.1 Pips
Platforms
MT4, MT5, HFM WebTrader
Islamic Account
Yes
Total Pairs
50+
Copy Trading
Yes
Crypto
Yes
Bonus Types
20% Top-Up Bonus
Year Founded
2010
Deposit/Withdrawal
Minimum Deposit
$1
Regulators
FSC (British Virgin Islands)
Maximum Leverage
1:1000
Minimum Spread
0.1 Pips
Platforms
MT4
Islamic Account
Yes
Total Pairs
150+
Copy Trading
Yes
Crypto
Yes
Bonus Types
Sign Up Bonus
Year Founded
2007
Deposit/Withdrawal
Minimum Deposit
$10
Regulators
CySec, FSCA
Maximum Leverage
1:2000
Minimum Spread
0.1 Pips
Platforms
MT4, MT5, WebTrader
Islamic Account
Yes
Total Pairs
60+
Copy Trading
Yes
Crypto
Yes
Bonus Types
30% Deposit Bonus
Year Founded
2011
Deposit/Withdrawal
Minimum Deposit
$10
Regulators
IFSC
Maximum Leverage
1:2000
Minimum Spread
0.1 Pips
Platforms
MT4, MT5, cTrader, RoboForex Mobile Trader, RoboForex StockTrader, WebTrader
Islamic Account
Yes
Total Pairs
32
Copy Trading
Yes
Crypto
Yes
Bonus Types
Up To 120%
Year Founded
2009
Deposit/Withdrawal
Low Spread
Low Commissions
Negative Balance
Protection
$10 Minimum
Deposit
Unlimited
Leverage
Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. It is important that you do not trade any money that you can’t afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a risk of loss.
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