Traders Union expert published its rating as best forex brokers in Nigeria
You can find the research results of the experts at Traders Union on Nigerian brokerage companies on tradersunion.com. In the course of the comprehensive study, the trading conditions of brokers were verified via the use of over 100 proprietary criteria, which made it possible to form an objective rating of the Best Forex Brokers in Nigeria in 2021.
Top 10 Nigerian Forex brokers
The Top 10 Best Nigerian Forex Brokers were formed by the most popular companies according to the Nigerian traders by providing them with optimal trading terms such as an affordable minimum deposit, popular trading platforms, high-quality service, prompt withdrawals, a security guarantee, and prompt support on Forex issues.
The list of the Best Brokers in Nigeria includes:
- FXTM. Here, the minimum deposit is $10. The company offers trading on these terminals: MT4, MT5, FXTM. The broker’s regulators are FSCA, FSC, and CySEC.
- IC Markets. You can enter the Forex market with this company with a minimum deposit of $200 and using the popular MT4 trading platform.
- eToro. The optimal broker for passive investing. It offers its clients to participate in social trading programs and copy trades. The minimum amount to get started is $200.
- InstaForex. This broker requires a minimum deposit of $1. It offers an MT4 trading terminal for work and provides favorable terms for both independent trading and investing.
- AvaTrade. It is a regulated Forex broker with an impeccable reputation. It requires a minimum deposit of $100 and offers MT4 and MT5 trading platforms.
- Admiral Markets. A reliable brokerage company regulated by four reputable financial regulators such as CySEC, FCA, EFSA, and ASIC. The minimum deposit is $100.
- FBS. This broker offers traders entry to the Forex market with a minimum deposit of $1 and provides three trading platforms: FBS Trader, MT4, and MT5.
- HotForex. This broker is regulated by FCA, DFSA, FSCA, and FSA. It requires a minimum deposit of $5.
- IG.com . It is a popular and reliable broker that provides traders with access to Forex using MT4. The minimum deposit is $250.
- FOREX.com. Forex brokers fall under a corporate umbrella of the GAIN Capital Group of companies. It requires a minimum deposit of $100 and promotes the МТ4 and МТ5 trading platforms.
Lists of Nigeria Forex brokers by parameters
Within the study, the best Nigerian brokers were verified by extra parameters and combined into separate lists:
- for investors;
- for novice traders;
- with banks in Nigeria;
- with offices in Nigeria;
Moreover, the Traders Union experts studied the specifics of the Forex Market Regulation in Nigeria and published this information in a separate block in the section about the Best Nigerian brokers.
Here you can also study the latest customer reviews on cooperation with Forex brokers in Nigeria.
Nigerian Forex Brokers Research Methodology
A comprehensive inspection of Nigerian Forex brokers was carried out by Traders Union experts using a unique 120-point methodology that allows it to objectively assess the efficiency of brokers, their reliability, and their development and growth:
Group 1. Financial – consists of 22 criteria.
Group 2. Economic – consists of 18 basic criteria.
Group 3. Client – consists of 27 basic criteria.
Group 4. Service – consists of 23 criteria.
Group 5. Reputation – consists of 17 criteria.
Thus, an independent and objective Best Nigerian Forex Brokers rating was formed.
Traders Union — advantages for traders
Traders Union has operated since 2010. During this time, the number of Union members has exceeded 300,000. Traders Union gets income from extra payments for each trader working with Traders Union.
Moreover, the Traders Union protects its clients’ rights in the face of brokers by providing them with free legal support.
