Best Nigerian Forex Brokers 2021 πŸ‡³πŸ‡¬

Looking for Best Nigerian Forex Brokers?

You are lucky, traders based in Nigeria enjoy a great variety of reputable forex brokers.

Check here our updated List (Best Nigerian Forex Brokers 2021) and find the trading broker that fits your Needs.

nigerian Forex Brokers

  • Country: Nigeria (Federal Republic of Nigeria)
  • Population: 204,000,000 (estimation 2020)
  • Language: English, Local Languages
  • GDP Total:Β $504.57 billion (estimation 2020)
  • GDP Per capita: $2,465
  • Currency: Naira (₦) (NGN)
  • Central Bank: Central Bank of Nigeria


Nigerian Forex & CFD Trading Brokers

Responsible for regulating the foreign exchange market is the Central Bank of Nigeria, which has so far not issued a list of licensed Forex Brokers. This means that Forex and CFD Brokers do not need any special license to offer services to Nigerians.

Is Trading Legal in Nigeria (2021)?

Yes, Nigerians can trade Forex and CFD legally in trading websites that accepts Nigerian Traders.

Does eToro Accepts Nigerian Traders (Update 2021)?

Unfortunanetly, eToro has decided to leave Nigeria on December 2020. So, for 2021 eToro doesnot accept Nigerian Traders.

Does Plus500 Accepts Nigerian Traders (Update 2021)?

Unfortunanetly, Plus500Β doesnot accept Nigerian Traders.
  • Taking into account the increasing interest of CFD and forex brokers in Nigeria we present you a list focusing in the best available options for Nigerians.

Nigerian Forex Brokers (And CFD Brokers)

1. πŸ… Avatrade Nigeria πŸ‡³πŸ‡¬

AvaTrade Review (Update 2021)

  • trade Crypocurrencies 24/7
  • Fully regulated broker
  • MT4, MT5 Trading Platform
  • Social Trading via AvaSocial app
  • No Fees in Deposits and Withdrawals
  • Global customer support in 15 languages
72% of retail CFD accounts lose money
Visit Now

AvaTrade is an international CFD and forex broker founded in 2006 and regulated by famous fregulatory bodies authorities, such as ASIC (Australia) and the Central Bank of Ireland (EU).

πŸ‘‰ Offician Trading Website: πŸ‡³πŸ‡¬

What to Trade in Avatrade?

Forex (+50 currency pairs), CFD Commodities (Gold, Oil, Silver), CFD Shares (Amazon, Facebook, Alphabet, Twitter, Tesla), CFD Cryptocurrencies (Ethereum, Bitcoin etc).

AvaTrade Trading Platforms

  1. WebTrader: Easy interface and no download platform
  2. AvaTradeGO App: Smartphone Trading
  3. MT4 – MT5: The famous platforms provided by MetaQuotes Ltd. Become expert to technical analysis.
  4. AvaOptions
  5. AvaSocial: Social Trading

Avatrade Nigerian Offices Adress:
Avatrade used to have an office in ABUJA, locating in Ojimadu Nwaeze House, 20 POW Mafemi Crescent, Jabi District, Abuja, Nigeria. However, this office seems not to work anymore (It is not listed in Avatrade official Website)

AvaTrade Nigeria Phone Number: +(234)12278891

How to deposit in Avatrade from Nigeria?
You can use Credit Cards and Debit Cards, Ewallets like Skrill and Neteller and Wire Transfers from your Bank Account.

What is the Minimum Deposit in Avatrade?
Make sure to have already finished with the KYC Documents before.

πŸ‘‰ Visit Avatrade Nigeria πŸ‡³πŸ‡¬

2. πŸ… OctaFx πŸ‡³πŸ‡¬ – Best Forex Broker Nigeria 2020


  • Awarded Broker
  • MT4 - MT5 Platform
  • Leverage Up to 1:500 (Forex)
  • Deposit with Crypto
  • CopyTrading App
50% Deposit Bonus
Visit Now

OctaFX is an multi awarded Forex Broker that accepts Traders from Nigeria.

OctaFx, although not reguated, is a reliable and secure forex broker.

πŸ‘‰ OctaFx official website:

OctaFx Trading Platforms:

  • OctaFx MT4 Account (Leverage up to 500:1)
  • OctaFx MT5 Account (Leverage up to 500:1)
  • cTrader (ECN Account – No CFD Trading)

Does Octafx offer an Islamic Account? Yes, OctaFx offers a swap free account.

OctaFx Deposit Methods:

  • Perfect Money (Minimum 25$ – Commission 0.5%)
  • Bitcoin (Min 0.00096000 BTCΒ  – No Commissions – Only BTC Network Fees)
  • Ethereum (Min 0.02 ETH – No Commissions – Only Network Fees)

πŸ‘‰ Visit OctaFX Now

3.πŸ… FBS Nigeria πŸ‡³πŸ‡¬

FBS Trusted Review

  • Best Forex Broker Asia 2018
  • +190 countries traders Accepted
  • Official FC Barcelona Partner
  • MT4-MT5 Account

FBS is a reputable Forex broker Licensed in CySec (Cyprus Securities and Exchange Commission) and IFSC (Financial Services Commission of Belize).

πŸ‘‰ FBS Nigeria official website:

FBS Trading Platform: Μ΀4 and Μ΀5 (Automated and Copy Trading Friendly)

FBS Trading Instruments:

  • Forex Major Pairs (EUR/USD, EUR/GBP, AUDUSD etc)
  • Forex Exotic Pairs (Pairs with US Dollar and Mexican Peso, Chinese Yuan, Russian Rubble, Turkish Lira)
  • CFD Commodities
  • CFD Stocks
  • CFD Indices

Why Trade in FBS Nigeria?

  • Accepts Clients from 190+ countries worldwide, including Nigeria πŸ‡³πŸ‡¬
  • More than 20 international awardsΒ 
  • 48% of our clients consider their profits from FBS their main source of income!
  • According to the company, 80% of FBS clients stay with FBS forever.
  • 16 000 000 traders and 410 000 partners have already chosenΒ FBS.Β 
  • Every day around 7000 accounts are opened in FBS. Click here to be the Next

πŸš€ High Leverage up to 1:3000 for Nigerian Traders

Does FBS offer an Islamic Account?Β Yes, FBS offers Islamic Account respecting Sharria Law. With Respect to Muslim Nigerian Traders

Minimum Deposit

  1. 10$ – for Cent Account
  2. 100$ – for Standard Account

Contact Phone for Nigerian Traders: +234 816 115 9586

Trade in a Trusted International Broker, official Trading Partner on Barcelona FC

πŸ‘‰ Visit FBS Now


4. IC Markets Nigeria πŸ‡³πŸ‡¬ – ECN Pricing Model

IC Markets Review (Update 2021)

  • ASIC and CySec Regulated Broker
  • Trusted ECN Forex Broker
  • Mt4 & MT5 Trading Platform
73% of retail investor accounts lose money
Visit Now

IC Markets is a good option for Nigerian Traders at the moment, promising low spreads and fast execution orders. Regulated by trusted Bodies such as CySec (Cyrpus) and ASIC (Australian), IC Markets is a CFD Trading broker for newbies and experienced traders.

πŸ‘‰ IC Markets Nigeria official website:

ICMarkets Trading Accounts & Platforms:

  • Raw Spread (Platform C Trader – Spreads from 0.0 pips – Commisions per lot = $3.0)
  • Raw Spread (MetaTrader 4 & MetaTrader 5 – Spreads from 0.0 pips – Commision per lot = $3.5)
  • Standard Account (MetaTrader 4 & MetaTrader 5 – Spreads from 1.0 pips – No Commision)

Trading Istruments: Only CFD (60 Forex Pairs, Gold, Oil, 200+ Stocks, 6 Bonds, Indices)

Does IC Markets offer an Islamic Account? Yes

Minimum Deposit: $200Β 

Deposit Methods: Credit/Debit Cards, Paypal, Skrill, Neteller etc

πŸ‘‰ Visit IC Markets πŸ‡³πŸ‡¬


5. Grand Capital Nigeria πŸ‡³πŸ‡¬

Grand Capital Trusted Review

  • Regulated by FinaCom
  • Expert Advisors Friendly
  • High Leverage Broker
  • Over 30 deposit/withdrawal methods
  • Bitcoin Deposit and withdrawls
  • Contests with cash prizes
  • VIP accounts for deposits over $50 000
500$ No Deposit
Visit Now

Grand Capital is a nice Option for Nigerian Traders.

πŸ‘‰ Grand Capital official website:

Grand Capital is an international online Trading Broker that offers Forex and CFD Trading via MetaTrader 4 and MetaTrader 5 Platform.

Atlthough the Broker is Unregulated, they have been proved to be very safe enviroment for Traders.

Grand Capital Trading Accounts:

  • Micro (Deposits from 10$ – Leverage 1:500)
  • Standard Account (Min Deposit 100$, 330 CFD & Forex Tradind Assets)
  • MT5 Account (For Professionals – Accepts EA)
  • πŸš€ ECN Prime (Min Deposit 500$ – High Liquidity)
  • Crypto (Deposits from $100 – 68 cryptocurrency pairs)
  • Swap Free (Deposits from $100 –Β  Swap Free)

Deposit Methods: Via GT Bank Nigeria, Skrill, Neteller, Bitcoin, Ethereum, Perfect Money etc

πŸ‘‰ Visit πŸ‡³πŸ‡¬


Nigerians Deposit Problems

A problem that Nigerians face is the deposit currency in their account. Most brokers accept USD Deposits, and some Nigerians face difficulties to deposit to their account.

However, for Nigerians there is the option instead of using a traditional Forex Broker, use a Cryptobroker.

Cryptobrokers accept Bitcoin Deposits (some accept also other cryptocurrencies such as Ethereum, Litecoin etc or even stablecoins such as USDT).

For Nigerians that hold cryptos, it will be very easy to deposit to these brokers.

If you are happy with these informations, read which cryptobrokers offer Metatrader Platform,Β which cryptobrokers have no KYC Verification (the trader stays anonymous).

Risk Warning: Forex Trading, CFD Trading and Binary Options involve significant risk of loss to your invested capital.
Please ensure that you have read our Risk Disclosure and you have fully understood the risks involved.

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