Forex brokers that operate in nigeria

Forex brokers that operate in nigeria

7 rows · 07/08/ · Exness is #5 in our recommended forex broker list for Nigerian traders. Exness Group is a Estimated Reading Time: 8 mins 4 rows · 18/08/ · The trading platform is another thing that you should look into when in search for a good FX 15/06/ · #1 – AvaTrade is the Best Nigerian Forex Broker AvaTrade is regulated by the Irish Central Bank, United Kingdom FCA, Australian ASIC and Japanesse FSA! You can rest assured your money is safe when trading with AvaTrade

Best Forex Brokers in Nigeria CBN Regulated Brokers

Nigeria is rich with oil reserves and is sometimes called the door to the African continent. It is also a country rich in various financial scams, so a native trader need to find a reliable CBN regulated broker. We have compiled a list of the most well-trusted of these brokers. Scroll for more details Broker Rating Official Site Regulations Min Deposit Max Leverage Trading Platforms Foundation Year Publicly Traded Trading Desk Type Currencies Commodities Indices Stocks Crypto Commission on trades Fixed spreads offers promotions Official Site 4.

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. Foundation Year : Headquarters : Level 5, forex brokers that operate in nigeria, Exchange House 10 Bridge St Sydney NSWAustralia.

It is authorised and regulated by the Australian Securities and Investment Commission ASICoffering negative balance protection and segregation of client funds.

FP Markets also has an entity regulated in the EU by the Cyprus Securities and Exchange Commission CySEC. Advanced traders also have the option of opening Iress accounts that are commission-based but offer a more comprehensive trading package. FBS is a brand name of FBS Markets Inc which is authorised and regulated by the International Financial Services Commission IFSC of Belize and the Financial Sector Conduct Authority in the Republic of South Africa FSCA.

In the EU and the UK, FBS is operated by Tradestone Limited, which is authorised and regulated by the Cyprus Securities and Exchange Commission CySEC.

In Australia, FBS is operated by the Intelligent Financial Markets Pty Ltd with the Australian Securities and Investments Commission regulation ASIC.

FBS offers the ability to trade on multiple asset classes covering CFDs on Forex and Stocks, forex brokers that operate in nigeria, Indices, Metals and Energies on the MetaTrader 4 and MetaTrader 5 trading platforms for PC, Mac, Web, Android and iOS operating systems. Moreover, clients from the countries under IFSC, FSCA, and CySEC regulations have an opportunity to trade in FBS Trader app, all-in-one trading platform.

Clients from the countries under IFSC and FSCA regulations can also access copy trading services via the FBS CopyTrade app. Headquarters : Siafi 1,PORTO BELLO Building, Flat , Limassol, Cyprus. Exness was founded in and is a joint brand name of Nymstar Limited, a Securities Dealer registered in Seychelles authorised and regulated by forex brokers that operate in nigeria Financial Services Authority FSA of Seychelles, and Vlerizo Pty Ltd — a Financial Service Provider authorised and regulated by the Financial Sector Conduct Authority FSCA in South Africa.

Headquarters : 30 Churchill Place, London, E14 5EU, UK. FXTM, forex brokers that operate in nigeria for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools.

Leverage is available up to Spreads are competitive across all platforms with hour trading open forex brokers that operate in nigeria days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission IFSCCyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available. As both scams and opportunities abound in Forex trading, you as a Nigerian trader need to find a reliable broker so that your hard earned money can be protected from scammers, money launderers, and various illegal brokers.

There are a number of steps you will have to go through. Firstly, you will have to find a CBN Central Bank of Nigeria regulated broker to be sure your broker is watched, supervised and monitored. Then, you will need to see whether the platform offered by the broker is user-friendly and offers the features that you need. Then you will check whether the commissions charged by the company are low enough for you. After than you will find out what type of accounts the broker offers you and finally you will test their company customer service and other extra services.

Forex regulation in the Western hemisphere remains somewhat similar among the majority of brokers with more opportunities to use higher leverage and lower margin requirements and there are a few countries which allow only very low leverage and much higher margin requirements. Most tend to be in the middle of that and can enjoy leverage on most currency pairs and 5 percent margin requirements.

However, fewer and fewer brokers can now operate in most countries unlicensed. If they do, they can be easily fined or even prosecuted if they raise even a little suspicion for the regulators of those countries.

The Nigerian local Forex market is regulated by CBN — Central Bank of Nigeria. The main aim of CBN is to ensure transparent and efficient functioning of the Foreign Exchange market. It does so by issuing licenses for Forex brokers both local and foreign and those have to adhere to strict rules set by the Bank. The forex brokers that operate in nigeria has a consumer protection department where various complaints are sent by investors and those complaints are analyzed, forex brokers that operate in nigeria.

If the broker is found guilty of acting against the best interest of their customers, severe fines and even revoking of their license to operate can occur. You can be sure that CBN will act in your favor to limit risks taken by a broker under its supervision and ensure that your capital is safe, forex brokers that operate in nigeria. The trading platform is another thing that you should look into when in search for a good FX broker in Nigeria.

One of the best platforms in the industry is currently the Metatrader 4. You can expect any broker to have it, but if he does not you should seriously consider not opening an account with him. The platform has an easy to use chartstation, where you can place a multitude of symbols: currencies, metals, and indexes and analyze them on various time frames, forex brokers that operate in nigeria.

You can also place technical indicators, both the most popular and your own ones. If you are a skilled programmer you can create a code for the platform and run it, forex brokers that operate in nigeria, which would work as robot trading on your behalf.

Backtesting and copying functions are also integrated into the software, so you can check how your trading strategy works and you can copy any trader who offers his service to be followed. Many more features are there, so you can download a demo version of the platform and check whether it has what you need before you start trading with real money.

Brokers that fill your orders when you trade financial markets charge commissions. However, in currency trading, it is different than in trading stocks. In stocks, brokers typically charge a fixed fee for each operation or a certain number of shares. In Forex, brokers are compensated by charging spreads, forex brokers that operate in nigeria.

What is a spread? It is the difference between the buy and sell price. So, you need to find a broker who has the lowest spreads and in this way increase your profits and reduce your costs.

Before you start trading you should be given a chance to backtest your trading strategy on a demo account, forex brokers that operate in nigeria. Those typically expire in a month and by that time you can familiarize yourself with various peculiarities of a platform. When you are ready to trade real money, a broker should offer you a number of accounts to choose from. If your budget for investment is tight, within a range of a few hundred dollars say, you should open a micro account.

Then, you will be able to trade 1k micro lots and not risk much. If you want to forex brokers that operate in nigeria deeper waters and can afford to invest a thousand or a few thousand dollars, you should try a mini account, forex brokers that operate in nigeria. You forex brokers that operate in nigeria have the possibility to trade 10k size lots and hopefully, make bigger money than you would on a micro. Standard lot size is k.

It means you need more than 10 thousand dollars to trade such huge amounts. However, if you can afford 20 or 50k investment size, a standard account might be a good choice for you.

There is give and take between a broker and a customer. He offers you the possibility to trade and a good service and you make him money by means of spreads. As a Nigerian trader, you should expect this service to be in your native language or dialect and you should also get it online 24 hours per day through the working week.

If your broker is indifferent to your questions, problems, and issues, you should say goodbye to him and search for trading opportunities elsewhere. Additional services come in the form of educational materials: video, audio, and texts.

Ebooks are often offered by brokers to their clients on various topics. Recruited analysts try to foresee shifts in the policy of Central Banks and predict how that will affect exchange rates of currencies. Most brokers also have forums where traders can chat and help each other. Some even offer monthly trading contests that have high money prizes.

Your real money trading experience starts with your broker. In order to stay protected from unscrupulous brokers, forex brokers that operate in nigeria, it is advised to follow the steps laid out above. We hope they helped forex brokers that operate in nigeria to form a picture of what a reliable broker looks like.

Your other option is to pick a broker from the below list. We have compiled this list based on objective research. English English Italiano Dansk Dutch Français Deutsch Eλληνικά العربية Norsk Português Русский Español Svenska Türkçe 日本語. Markets Crypto News Forecasts Education FXTM Academy Trade Now Brokers Tools Economic Calendar Macro Data. Crypto Hub.

Economic News. Expand Your Knowledge. Forex Brokers Filter. Trading Tools. Macro Hub. home Brokers best nigeria. Best Forex Broker in Nigeria Advertising Disclosure Advertising Disclosure. This page may not include all available products, all companies or all services. FX Empire Editorial Board. Last Update : Aug 18, AM GMT. At FX Empire, we stick to strict standards of a review process. Learn about our review process.

Best Forex Brokers In Nigeria 2020 (Beginners Guide) - blogger.com

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5 Best Forex Brokers in Nigeria (No Deposit Bonus) ☑️

05/07/ · eToro – Overall Best Forex Broker in Nigeria with FREE Copy Trading Service! blogger.com – Best Forex Brokers for Beginners with $20 Minimum Deposit; Libertex – Best Forex Broker in Nigeria with ZERO Spreads; VantageFX – Best Forex Broker for ECN Accounts; Avatrade – Best Broker for Range of Accounts (CFD, Options, Copy) 02/07/ · Forex brokers in Nigeria are authorised by the Central Bank of Nigeria (CBN) to operate in Nigeria. The CBN’s website is blogger.com We suggest investors and traders follow the CBN on Twitter, @cenbank, to get the latest news and updates 7 rows · 07/08/ · Exness is #5 in our recommended forex broker list for Nigerian traders. Exness Group is a Estimated Reading Time: 8 mins