Binary Trading Brokers In Nigeria

As with most African countries, forex trading has seen a significant increment in popularity across Nigeria.

👌13+ Point Summary on Nigeria'south Trading Regulations

🇳🇬 Amount of traders in Nigeria	250 000+ ( Updated March 2022 )
🗺️ Government Regulatory Trunk in Nigeria	Central Bank of Nigeria (CBN)
📍 CBN Physical Address and Details	Address: Central Bank of Nigeria Plot 33, Abubakar Tafawa Balewa Fashion Primal Business organization District, Cadastral Zone, Abuja, Federal Capital Territory, Nigeria Phone: +234 700 225 5226 Website: https://www.cbn.gov.ng/ Email: [email protected]
📢 CBN Official Twitter Page	CBN on Twitter
📚 Official Wikipedia Page of CBN	Central Banking company of Nigeria Wikipedia Page
📉Most Traded Currency*	USD / EUR and USD / NAIRA
⚖️ Is Trading Legal in Nigeria?	Yep, if information technology is with a regulated broker.
💰 Practice you go taxed on forex trading profits?	Yes
🌎Who is the number #1 Forex Broker offering Nigerian denominated accounts?	Forextime
🕒 Best time to merchandise in Nigeria?	09:00 - 12:00 and xv:00 - sixteen:00 GMT+12
🏆Meridian CBN Regulated Forex Brokers	Hotforex, Avatrade, FXCM, Forextime
💳 How much money do you need to successfully get started trading forex in Nigeria?	forty 000 Nigerian Naira's
📈 Fastest Growing Broker in Nigeria*	Avatrade

TheCentral Bank of Nigeria (CBN) is the regulatory torso for all fiscal services and financial policies in Nigeria. CBN in partnership with theSEC (The Securities and Substitution Committee) of Nigeria provides a legal framework for forex trading.

10 Best Handpicked CBN Regulated Forex Brokers in Nigeria.

Pepperstone
IC Markets
EasyMarkets
CMC Markets
ForexTime (FXTM)
OANDA
HugosWay
Alpari
OctaFX
HotForex

Nigerian traders need to know that information technology is not required to get authorization from these two bodies in order to offer fiscal services and forex trading to traders in Nigeria, due to the fact that there is no license to offering but, it is advised to choose a registered ECN regulated or trusted broker with an excellent reputation in order to ensure that traders funds are fully protected.

Here is an overview of the 27 All-time Licensed and accredited Forex Brokers and trading platforms that offer their services to traders based in Nigeria.

You tin can trade with any of these brokers on the list with full peace of mind.

You might also like: All-time EURONEXT FOREX BROKERS REVIEW

Pepperstone

Pepperstone was founded in 2010 and is regulated past the Australian Securities and Investments Committee (ASIC), equally well as the Uk's Financial Acquit Authority (FCA). Pepperstone offers traders a diverseness of trading accounts to choose from including Razor, Standard and Bandy-Free, and –

Boasts 3 superlative forex trading platforms:

MetaTrader 4: Nigh Popular for Forex Trading
MetaTrader 5: Most Pop CFDs Trading Platform
cTrader: All-time Automatic Trading Platform

All three FX trading platforms come with a gratuitous demo business relationship which will permit Nigerian traders to test out the forex broker and platform for 30 days.

Platform enhancements available for Pepperstone include:

MetaTrader four smart trader tools
cTrader Automate
Autochartist and
API trading

A range of options for depositing funds are available, including: Bank wire transfer, MasterCard, Visa credit carte, PayPal, Neteller, Skrill and QIWI.

Pepperstone offers 24/5 multiple linguistic communication support via email, telephone and live chat.

IC Markets

IC Markets is a regulated Forex ECN and CFD banker which offers more than than 236+ financial instruments across Forex, Bolt, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader four, MetaTrader 5 and cTrader platforms for desktop, web and mobile. IC Markets is regulated by the Australian Securities and Investments Committee (ASIC), the Republic of cyprus Securities and Exchange Commission (CySEC), as well every bit the Seychelles Financial Services Authority (FSA).

IC Markets offers traders three primary types of live trading accounts to choose from, including Raw Spread (cTrader), Raw Spread (MetaTrader) and the Standard Business relationship (MetaTrader). Islamic swap-free accounts and the use of a gratis demo trading account is also on offer.

Client support is available 24/7 via Live Chat, Phone and Email.

EasyMarkets

EasyMarkets is ane of the almost pop choices for Beginners in Nigeria and is regulated by CSEC (Republic of cyprus) and ASIC (Australia) and offers beginner forex traders:

Enhanced risk management tools equally standard
Fixed spreads on all forex pairings
An easy to use forex trading platform

EasyMarkets offers traders three key take chances direction tools which are platonic to those new to currency trading:

Bargain Cancellation
Guaranteed Stop Loss Orders
Negative Residual Protection

Standard, Premium, VIP and SuperVIP accounts are bachelor, their minimum opening deposits are US Dollar 100, U.s.a. Dollar 1 000, US Dollar ii 500, US Dollar fifty 000 respectively. A demo account is also on offering. The available trading platforms offered are MT4 and the easyMarkets web platform.

Customer Support is available 24/v via various conversation channels, email, phone and web forms.

CMC Markets

CMC Markets is a multi-asset class spread betting and CFD banker, regulated by the UK's Financial Acquit Authority (FCA).

CMC Markets offer:

A range of financial markets including Bitcoin
US Dollar 0 minimum deposit and like shooting fish in a barrel funding methods
Advanced charting through the Adjacent Generation CFD platform

CMC Markets offers 3 trading accounts – a spread betting account, a CFD business relationship and a Corporate account. Users can as well attempt a free demo account. Clients can trade on more than 9,000+ trading instruments covering Indices, Forex, Cryptocurrencies, Commodities, Shares and Treasuries, all on the MetaTrader 4 platform or the broker's own proprietary, web-based Side by side Generation platform.

CMC Markets offers basic funding methods including:

Credit Cards (minus AMEX or Diners cars)
Debit Cards
Banking concern account transfers

CMC Markets offers customers 24/5 support via Live Conversation, Phone, and Email.

ForexTime (FXTM)

FXTM was established in 2011 to offering Forex and CFDsouthward and is highly regulated past the FSC of The Republic of mauritius, the FCA of the United kingdom of great britain and northern ireland, CySEC and licensed by FSCA of Due south Africa.

Standard and ECN Accounts are bachelor with several subtypes. Nether the Standard account, they offering the Standard, Cent and Shares Account types. ECN account sub-types are the ECN Zippo account, FXTM Pro account and the ECN account. ECN accounts tin exist traded on MT4 and MT5.

FXTM offers Local NGN Funding, through depository financial institution wire transfer or Neteller with a minimum deposit of U.s.a. Dollar 100 for a standard forex account. This allows traders to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency.

Customer support is available in 17 Languages via Live Chat, Phone, Telegram, Facebook and Twitter.

OANDA

OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users accept the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker'southward own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.

OANDA is the most Regulated Forex Banker and operate across six of the most credible regime including:

Australia AISC (Australian Securities and Investments Committee)
The states CFTD (Commodity Futures Trading Commission)
Europe and United kingdom FCA (Financial Comport Dominance)
Japan IFFA (Institute Financial Futures Association)
Singapore MAS (Monetary Authority Of Singapore)
Canada IIROC (Investment Manufacture Regulatory Organization of Canada)

OANDA has 2 accounts on offer: a Standard Account and Premium Account. Each account comes with their own unique features and benefits. A free demo trading account is also on offer.

Customer back up is available via a FAQ section, a OANDA Virtual Assistant and telephone.

HugosWay

HugosWay offers traders an ECN Trading Account and is an ECN/STP forex broker which offers ECN trading that –

Has liquidity from fifty+ banks and dark pool liquidity providers
Offers straight-through processing reducing latency times
Achieve low spreads with no dealer interference

Traders can trade on over 150 trading instruments on the pop MT4 Platform. Customer support is available 24/7 via live chat, email or call-back request.

Delight Note – HugosWay is not regulated.

Alpari

Alpari International is the business proper name of Exinity Express which is by the Financial Services Commission (FSC) of the Mauritius and offers traders more 250 tradable assets across Forex, Stocks, Indices, Metals, Cryptocurrencies and Futures, beyond the MetaTrader suite of trading platforms.

Four main types of trading accounts are on offering: Standard MT4, Micro MT4, Pro MT4 and ECN MT4/five. A Stocks Trading account, too every bit a swap-free account, the utilise of a gratuitous demo trading account and an Alpari Invest business relationship is also fabricated available.

Customer back up is available 24/5 via Alive Conversation, Telegram, Email and phone.

OctaFX

OctaFX is a Forex ECN banker registered by CySEC in St. Vincent and the Grenadines and offers the selection to trade on Forex, Indices, Metals and Cryptocurrencies via CFDs, across the MetaTrader and cTrader suite of trading platforms besides as their own OctaFX Trading App.

Three main types of trading accounts are on offer – MetaTrader iv Micro, MetaTrader five Pro and cTrader ECN. OctaFX also offers Copy Trading accounts, a bandy-free account and demo trading accounts. OctaFX offers 24/5 customer support via Live Chat, Electronic mail, Phone, WhatsApp and an Enquiry Course across multiple languages including English, Indonesian, Hindi, Chinese and more.

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and i-click trading and lxxx+ technical indicators plus an in-built economic calendar.

NB: Hotforex is an SEC-regulated forex broker in Niaraland, Nigeria.

The account tin can be accessed from anywhere using an iPhone, interactive charts for nine timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Hotforex's Metatrader offers a fast order execution, news feed, multiple order types, back up for EAs.

Central features include:

Supports: MT4, MT5 for desktop, web & mobile
Minimum deposit: US Dollar 5
Leverage: 1:g
Trading Instruments: Forex, Cryptocurrencies, CFDs on Stock Indices, Bolt,

metals

Customer support is available via phone and email.

Tickmill

Tickmill is a Forex and CFD broker with licences from the UK Fiscal Conduct Authority (FCA), the Cyprus Securities and Exchange Committee (CySEC) and the Seychelles Financial Services Authority (FSA). Tickmill offers trading on 80+ markets roofing Forex, Indices, Commodities and Bonds on the MetaTrader iv trading platform for Windows, Mac, Web, Android and iOS.

Three main trading accounts called the Pro Business relationship, Classic Business relationship and VIP Account is on offer, each which offers different minimum balances, maximum leverage, spreads and commissions respectively. Demo trading and Islamic swap-gratuitous accounts are as well made bachelor.

Multilingual client service is available via Telephone, Email, Online Contact Form and Alive Conversation.

AvaTrade

AvaTrade is an online banker founded in 2006 offering Forex trading, CFDs trading, Spread Betting trading, and Social Trading.

Regulated past: Cardinal Banking company of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Fiscal Services Commission (BVI)
Headquarters:The British Virgin Islands
Foundation yr:2006
Used: by over 200,000 traders

Across all markets, MetaTrader 4 gives traders access to over 250 avails, 30 advanced charting tools, trading history, and other useful information. Client support is available by email, telephone, or alive conversation.

Forex.com

Forex.com is an online broker founded in 1999 and offers Forex trading, Indices trading, Commodities trading, Equities trading, and Cryptocurrencies trading.

Regulated by: Financial Behave Potency (FCA), Cayman Islands Monetary Potency (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA)
Headquarters:United states
Foundation year:1999

Traders can choose between the standard, committee, and straight market access accounts paired with both the MT4 and MT5 trading platforms.

Customer support is available by phone, live chat, or email.

IQ Option

IQ Selection is a forex & binary options broker with offices based in the UK, Cyprus, and the Seychelles, and regulated past the FCA and CySEC. IQ Option offers traders three trading account to choose from, Retail, Professional and Demo.

IQ Option offers the following underlying assets for FX trading.

90+ Currency Pairs	Based on major and modest world currencies.
17 Crypto Pairs	Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Nuance, Zcash, Qtum, Cardano, OmiseGo, Stellar, EOS, IOTA, NEO, NEM, TRON.
v Indices CFDs	Based on baskets of different blue-chip stocks.
3 Metal CFDs	Based on Aureate, Silverish and Platinum.
2 Free energy CFDs	Based on Crude Oil (WTI, Brent).
1 Soft CFD	Based on Wheat.
130+ Stock CFDs	Based on shares of US, Uk and EU companies.
28+ ETF CFDs	Based on exchange-traded funds containing diverse tradable avails.

IQ Option offers the following underlying assets for Binary Options trading (unfortunately, non bachelor for Eu residents).

thirty+ Currency Pairs	Based on major and minor globe currencies.
2 Indices BOs	Based on DFMGI, TelAviv-25.
ii Metal BOs	Based on Gold and Silvery.
xx+ Stock BOs	Based on shares of United states of america companies.

Payment methods accepted include all the usual options similar VISA, MasterCard, Skrill and Neteller, plus a range of other online money transfer services, including AstroPay, Qiwi, and WebMoney. IQ Choice's trading platform is spider web-based and supports both binary options and forex & CFD trading within the same user interface.

Customer support is available 24/7 via e-mail and local telephone numbers in thirteen countries.

XM

Leverage: ane:xxx to 1:888 *Depends on the entity of the group

Regulation: CySEC, ASIC, IFSC

Min. Deposit: USUS Dollar 5

HQ: Cyprus, Australia, Belize

Platforms: MT4, MT5, XM WebTrader

Founded in: 2009

XM operates with clients from over 196 countries and offers support in 30 languages. The main branch located in Cyprus is regulated by CySEC. 1.5 Meg Traders and investors choose XM and their wide range of XM trading products on offer. Four main account types are on offer –Micro, Standard, XM Ultra Low Account and Shares Accounts. Traders can select the base currency of their preference from a big selection on offer. This range includes South African Rand (ZAR), Singapore Dollar (SGD) and other global currencies.

Customer Support is bachelor via live conversation, email and phone.

eToro

eToro is a leading social trading platform for trading major financial markets including stocks, forex andcryptocurrencies. eToro is regulated past FCA, CySEC and ASIC.

eToro simply offers once account type with over one,083 dissimilar instruments to trade, including over 47 currency pairs. The minimum deposit for said business relationship differs by country. eToro offers traders a proprietary trading platform which allows both individual and social trading.

eToro supports a wide range of languages including English, German language, Castilian, French, and Italian via telephone and support ticket.

Exness

Exness is authorised by the Fiscal Services Authority (FSA) of Seychelles and was founded in 2008. Traders accept the ability to merchandise on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader iv and MetaTrader five trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.

Exness offers traders 5 different trading accounts to choose from. Standard Accounts include the Standard and Standard Cent. Professional Accounts include Raw Spread, Pro and Zero. Demo accounts and Islamic swap-costless accounts are also available. Exness offers over 105 unlike instruments to trade, including over 103 currency pairs.

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

FP Markets

Leverage: 1:500

Regulation: ASIC, CySEC

HQ: Australia

Platforms: IRESS, MT4, MT5

Found in: 2005

The FP Markets was established in 2005 and servesover 12,000 clients across the earth. FP Markets connect traders to the market through electronic bridges and DMA pricing models. FP Markets offers traders access to trade xiii,000+ products ranging fromForex,Indices, Commodities, Metals, Bitcoin, Cryptocurrencies, Equity CFDs.

Traders canchoose between MT4, MT5 and IRESS platforms as wellMAM and PAMM account possibility for money managers.

FP Markets offering two business relationship types with STP and ECN execution models available through MT4 or MT5 platforms. FP Markets likewise offers three IRESS account typeswhich covers traders who adopt to use this particular software.

Customer Service is available 24/5 via Alive Chat.

XTB

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe. XTB is regulated by the Britain Fiscal Acquit Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016.

XTB is a fintech company which combines financial services with innovative engineering and information technology offers clients ii platforms to choose from:

xStation v
MT4

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available seven days a calendar week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-24-hour interval expiry.

Trading Features:	Accounts offered:	Funding methods:
Allows scalping	Demo business relationship	Credit cards
Allows hedging	Micro account	Bank Transfer
Offers STP	Mini business relationship	PayPal
Low min deposit	Standard business relationship	Skrill
Guaranteed stop loss	Islamic business relationship	Payoneer
Offers Negative Rest Protection		Netelle

XTB support a broad range of languages including English, Spanish, Czech, Chinese, High german, French, Italian, Polish, Portuguese, Romanian, Slovene, Turkish, Arabic, and Russian.

Swissquote

Swissquote is an online broker regulated by DFSA, FINMA, SFC which was founded in 1999 and offers Forex and Social Trading. Swissquote offers traders the ability to trade Forex, CFDs and Options on a variety of asset classes such as Currency pairs, FX Options, Metals, Indices, Bolt and Bonds on a variety of trading platforms including the bank'due south own Advanced Trader platform and MetaTrader 4 and five.

Four different trading accounts are on offer – Standard, Premium, Prime and Professional, likewise as access to a costless demo trading business relationship.Swissquote offers customer back up in x different languages via Live Conversation, Phone, Email and an Online Contact Grade.

InstaForex

InstaForex is a CySEC and BVIFSC regulated broker which was established in 2007. The broker offers traders more than than 110 currency pairs available to choose from, CFDs based on the stocks of more than xc American companies, v cryptocurrency pairs, plus bolt and stock indices CFDs.

InstaForex offers four different business relationship types to choose from:

Standard Account
Eurica Account
Standard Business relationship
Eurica Account

Trading Platforms on offer include: Web MetaTrader 4 Binary Platform. Customer service is available via phone, telegram, WhatsApp and Skype.

City Alphabetize

City Index is a Spread Betting, CFD and Forex trading broker regulated by the UK Financial Carry Authority (FCA) and offers traders the ability to trade on over 12,000 instruments covering Indices, Shares, Forex, Cryptos and Bolt on the MetaTrader 4 platform, Urban center Alphabetize'due south own proprietary, spider web-based HTML 5 trading platform or the AT Pro desktop download.

3 trading accounts for Spread Betting and CFD trading are on offer – Trader, Premium Trader and Professional Trader. A complimentary demo trading account is besides available.

Customer Support is available 24/5 via Live Chat, Phone, Email and Online Contact Course.

FXCM

Forex Majuscule Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised and regulated by the UK Financial Carry Authority under the Forex Majuscule Markets Express and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its ain proprietary Trading Station platform for Desktop, Web and Mobile, equally well as on MetaTrader 4, NinaTrader and ZuluTrade.

FXCM offers traders four main types of trading accounts to choose from, includingSpread Betting, CFD Trading, Agile Trader and Professional Clients. A Free Demo business relationship is also made available.

Customer Support is available via Alive Conversation, Phone, Email and SMS.

CM Trading

CM Trading is an online banker which was established in Southward Africa in 2014 and offers CFDs on currencies, stock, indices, commodities and cryptocurrencies on a selection of modern platforms. CM Trading is the Make name of Global Upper-case letter Markets Trading and BLACKSTONE Marketing SA (PTY) LTD (GCMT SA). CM Trading is regulated by the FSCA.

Four Account types are on offering – Mini, Classic, Executive and Premium Accounts. The minimum balances required are US Dollar 250, US Dollar thousand, US Dollar 5,000 and US Dollar 25,000 respectively. Two trading platforms are available, Sirix and the MT4. Sirix is suited for Forex and Social trading over the spider web. MT4 on the other mitt is a downloadable platform which allows automatic trading using robots.

Customer support is available 24/5 via phone, web chat, email and fax.

FBS

FBS is a Forex and CFD broker which is authorised and regulated by the International Fiscal Services Committee (IFSC) of Belize and the Republic of cyprus Securities and Exchange Commission (CySEC). FBS offers users the choice to merchandise on Forex, Indices, Stocks, Metals and Energies on the MetaTrader iv, MetaTrader 5 and FBS Trader trading platforms for PC, Mac, Web, Android and iOS with a maximum one:3000 leverage, copy trading services and a range of bonus promotions.

Five dissimilar trading accounts are available – Cent, Micro, Standard, Zero Spread and ECN. Each account offers unlike features and benefits respectively. A demo trading and swap-free accounts are also available.

Customer Back up is bachelor 24/vii via a Telephone call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

NSBroker

NSBroker is a Forex and CFDs broker which was founded in 2011 and is regulated by the Malta Financial Services Dominance (MFSA). Real accounts bachelor at NSBroker include Standard and ECN accounts with a maximum leverage of up to 100:1. A gratuitous demo account is also made available for beginner traders. Trading Platforms on offer are MT4 and MT5 respectively.

NSBroker offers the option to trade instruments across stocks, indices, currency pairs, cryptocurrencies, energy carriers, article futures and more.

NSBroker'south customer service is bachelor 24/5 in 7 languages: English, Russian, Spanish, German, French, Italian, and Standard arabic via Telephone, Alive Conversation and Email.

Olymp Trade

Olymp Merchandise was Established in 2014 and boasts over 25k active traders each day. Olymp Merchandise is regulated past the International Financial Commission (IFC) and headquartered in St. Vincent and the Grenadines.

Autonomously from the demo account, there are two dissimilar accounts on offer – Standard and VIP. The Olymp Trade platform is the only trading platform on offer and tin be accessed via the web, a dedicated desktop application (available for Windows and Mac) and a smartphone/tablet app (available for Android/iOS).

Olymp Trade offers users the opportunity to merchandise in the following markets:

Stocks
Bolt
ETFs
Currencies
Cryptocurrency

Customer Service is available via 24/7 via phone, email and their website.

In Conclusion

There are many factors that a trader needs to consider when selecting their Forex Broker. With the help of this guide, Niaraland / Nigerian traders should be able to come across which broker is all-time suited to their individual trading needs and manner. Once a trader has found the right broker to work with, they can focus on their trading activities and merchandise more confidently and efficiently, increasing their chances of successful trading in the financial market.