07/10/ · Paragon is a uniquely well-known Nigerian Forex trader because of this method that he uses. Paragon spent years perfecting his craft, continuing to gain with this binary trading. In addition to the use of binary trading, Paragon has found success in numerous other blogger.comted Reading Time: 8 mins 6 rows · Compare the best online brokers for trading forex, cryptocurrencies, stocks, commodities & Estimated Reading Time: 9 mins 02/07/ · We wanted to accurately determine the actual spreads and commissions, the trading platform, deposit and withdrawal conditions, trader education, and customer service. Pepperstone – Best Overall Forex Broker in Nigeria. FXTM – Best Forex Trading Platform Nigeria. IC Markets – Best Forex Broker for Beginners in Nigeria
10 Best Forex Brokers In Nigeria [ Regulated Brokers]
Last Updated: April 18, Forex Trading in Nigeria has now become much convenient and resourceful with mobile apps. But, not all trading apps are the same, each app has its own pros and cons. Trading apps can be used for many things like, charting, best forex trading app nigeria feed, analysis, and tracking the market. We reviewed some of the popular brokers that offer their apps to traders in Best forex trading app nigeria and assessed them against 11 features for mobile-based trading.
Best forex trading app nigeria is the breakdown of the best forex trading apps in Nigeria and how they compete against each other. Hotforex is an FCA UKCySEC, FSCA regulated forex broker; therefore, considered safe, best forex trading app nigeria.
They provide a micro account, a premium account, and a zero account. All accounts have access to a full range of trading instruments i. You can also open Naira NGN trading account at Hotforex. They provide trading platforms like MetaTrader 4 MT4 and MetaTrader 5 MT5. The app is available on both Android and iOS devices.
They also provide a very good range of charting tools and trading calendars. They provide good customer support with a FAQ section, a quick live chat available on their website 24 hours during weekdays, email support, and phone support in Nigeria. Avatrade is regulated by top-tier regulators like FSCA and ASIC.
So we consider it to be a safe broker. Their trading app AvatradeGO has features like price alerts and real-time market quotes on popular stocks. They also offer MT4 and MT5 trading platforms for web, PC, and mobile devices.
It is an extremely user-friendly app too, available on both Android and iOS devices. Their customer support is a bit slower than other brokers. But they do have a local phone best forex trading app nigeria in Nigeria. XM is regulated by FCA no. Hence, trading with XM in Nigeria can be considered very safe. It is quite popular among the Asian and African markets but does not have a local office in Nigeria.
XM allows trading on MT4 and MT5 trading platforms for all the devices. Traders need to download the MT4 or MT5 trading app and register themselves through XM login credentials to start trading in Nigeria, best forex trading app nigeria. The spreads start from 1 pip for the currency pairs which is 1.
The spreads with the Ultra Low account at XM are as low as 0. There is no commission on any of the account types at XM, best forex trading app nigeria. Naira-based trading accounts are not available and they also charge a currency conversion fee if the deposit currency differs from best forex trading app nigeria base currency of the account. They do offer negative balance protection to Nigerian clients with a maximum leverage of up to The customer support service is resourceful with the live chat window but a local phone number for customer support is not available at XM.
Plus is regulated by FCA no. Due to regulatory compliance from all the top regulatory authorities of the world, Plus is considered one of the safest trading app in Nigeria. Plus offers its own trading platform for web, PC, and mobile. Their mobile trading app is convenient, user-friendly, and offers various features to the traders. Traders do not need to download MT4 or MT5 trading platform separately if trading with Plus They only offer a single trading account which grants access to all the available trading instruments at Plus Each account can be converted to a professional account, if eligible.
The professional account grants additional features to the traders although the spreads remain the same. Spreads start from 0. No commission is charged for executing the trade order. Plus does not offer an NGN-based trading account and charges a currency conversion fee if the account currency is different from the deposit currency. There is no local office in Nigeria and no local phone support available.
Clients can resolve their queries through a live chat window and email support. FXTM is a very popular trading app in Nigeria. It offers an NGN-based account, has a local office in Nigeria, and provides local phone support with convenient transaction methods through local banks. However, the spreads are slightly higher. FXTM is regulated by FCA no.
FXTM is a safe trading app in Nigeria due to multiple foreign regulatory licenses. The standard cent account is only compatible with the MT4 trading platform while all the other account types can be opened with either of MT4 or MT5 trading platform, best forex trading app nigeria. FXTM does not have its own trading platform and traders need to download MT4 or MT5 trading apps separately to trade from their mobile devices. The customer support service is excellent through phone as well as live chat.
Convenient features for Nigerian clients make it a great choice for trading forex and CFDs in Nigeria. To choose the best forex apps, we reviewed over 20 different brokers and their mobile apps for these 9 important factors:.
Some brokers hide fees like funding charges, account maintenance charges, inactivity fees, currency conversion fees, etc, best forex trading app nigeria. Always ask brokers about their overall fees including any commissions, non-trading chargesnot just trading fees. This will allow you to trade safely with stop-loss orders, best forex trading app nigeria.
If it has a 2-step authentication then it is even better. Also, test if the app is compatible with your device or not. Make sure it would not crash your device. Also, always read the user reviews to see how popular the app is before installing it.
The offline forex trades are executed by banks and dealers authorized by the Central Bank of Nigeria CBN. Online forex trading does not have a specific set of guidelines in Nigeria. Although, only licensed foreign brokers are allowed to execute forex trades in Nigeria.
It is illegal to trade forex pairs through agents or unregulated brokers in Nigeria. There are various educational content available online and offline to learn the basics of forex trading. However, forex trading can be better comprehended through experience. Potential traders can try the demo accounts that are available at almost every broker in Nigeria and educational websites. Forex trading involves buying and selling predefined units of a specific currency in return for other currency.
The price for each currency pair is volatile and depends upon several factors and market conditions. Each trading application has its own pros and cons, best forex trading app nigeria.
The service they offer differs from country to country due to regulatory guidelines and several other factors. You should seek a trading app that is well regulated, less costly, offers quality support, convenient transaction methods, and availability in the country of your residence. No single trading app can be considered best for every country in the world. ForexNigeria Editor Last Updated: April 18, Comparison Table of Best Forex Trading Apps in Nigeria Forex Trading App Minimum Deposit Avg.
Best forex trading app nigeria Hotforex. Visit Avatrade. Visit XM. Visit Plus Visit FXTM. Is Forex Trading Legal in Nigeria? How to Learn Forex Trading?
How Does Forex Trading Work? Which is the Best Trading App in the World? Hotforex is 1 rated FX trading app Visit. Back To Top. Regulation s : FCA, FSCA, CySEC. Visit Broker. AvatradeGo App. Regulation s : ASIC, FSCA, best forex trading app nigeria. XM Forex. Regulation s : ASIC, CySEC.
7 BEST FOREX BROKERS IN NIGERIA
, time: 7:18Best Forex Trading Apps In Nigeria (Top 10) - FxBeginner
22/07/ · Pepperstone is the best forex broker in Nigeria, not just for their platforms but also their fees. There are two forex accounts available. The first is the standard account which has no commissions but slightly higher spreads, which is how the forex broker makes its blogger.comted Reading Time: 9 mins 02/07/ · We wanted to accurately determine the actual spreads and commissions, the trading platform, deposit and withdrawal conditions, trader education, and customer service. Pepperstone – Best Overall Forex Broker in Nigeria. FXTM – Best Forex Trading Platform Nigeria. IC Markets – Best Forex Broker for Beginners in Nigeria 6 rows · Compare the best online brokers for trading forex, cryptocurrencies, stocks, commodities & Estimated Reading Time: 9 mins
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