Best Forex Brokers in Nigeria 2019 (TOP 10 List)

Last updated: January 4th 2019

Below is carefully picked TOP 10 list of best forex brokers in Nigeria.

Nigeria broker
Forex Broker's Name Trader's ScoreBonusMinimum depositMax. LeverageTrading PlatformOur Review

100% Bonus

$501000:1MetaTrader 4
MetaTrader 5
HF CopyTrading
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$30 FREE*
25% Bonus
$5888:1MetaTrader 4
MetaTrader 5
Android/iOS Apps
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Android/iOS Apps
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up to 25%$1000200:1MetaTrader 4
40%$100400:1MetaTrader 4
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-$100300:1MetaTrader 4Read the review
-$100300:1MetaTrader 4
-$100200:1MetaTrader 4
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forex broker nigeria

Is Forex Trading Legal in Nigeria ?

Yes currency trading is legal in Nigeria. With the rapidly growing Nigerian economy, it was no wonder that the Nigerian forex market has witnessed rapid growth during the past decade, as more and more middle class Nigerians have been joining the fx market. This boom has led to many scams and fraud taking place. The national watchdog has been therefore cracking down on unregulated scam forex brokers who promise riches to newbies since the past few years. The fx industry in Nigeria now tries hard to regain its good reputation.

The boom in forex currency trading has begun in mid 2000’s and by now there are around 300 thousand retail forex traders in Nigeria according to resource. Thanks to low barriers of entry (low minimum deposits + high leverage trading + free trading platforms) more and more middle class people can now afford to invest this way.

We strongly urge you to start trading only with regulated fx brokers! You may choose either some of our world renowned brokers with regulation in UK, Cyprus OR go with some local Nigerian CBN regulated forex broker.

Who regulates forex brokers in Nigeria ?

Central Bank of Nigeria ( shortly just CBN is the main regulatory body which controls the capital markets including forex companies.

Best Forex Brokers in Nigeria 2019 (TOP 10 List)
4 (80%) 1 vote