Best forex brokers in Nigeria

BrokerCountryRatingMin. DepositWebsite
US5/5$50Click for a special offerWebsite
USA5/5$250Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5Click for a special offerWebsite
Australia, Cyprus4.93/5$100Click for a special offerWebsite
UK, Australia4.85/5$50Click for a special offerWebsite
Cyprus, SVG4.8/5$100Click for a special offerWebsite

With a population of over 180 million Nigeria is both the most populous country in Africa and the largest economy on the continent. And naturally the size of the market attracts both legit forex and CFD brokers and scammers.

So it was not a surprise, when in October the Nigerian Securities and Exchange Commission (SEC), citing the increased number of adds soliciting investment in forex and CFD instruments, issued a warning, reminding potential investors that for the time being the retail forex market in the country remains unregulated and anyone investing in such instruments should personally consider the risks involved.

Here we should note that while the retail forex market in Nigeria is not regulated, it is also not restricted, and you can open a trading account with any broker, who is willing to service customers in Nigeria.

However, as in the case with other emerging, and largely unregulated markets, we will repeat our best advise to invest only with brokers, licensed by a well respected financial institution such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

As for the payment methods in Nigeria you can use Skrill, Western Union, the local 2Checkout (2CO) payment service, as well as major credit cards and bank wire transfers.

 

Forex news from Nigeria

Brisk Capital Limited CEO Apprehended by Authorities in Nigerian Investment Scam

The head of Brisk Capital Limited, a major African investment company, was apprehended by Nigerian authorities after being accused of being the

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Crypto Investment Scams in Nigeria are on the Rise

Nigerian cryptocurrency scams have become rampant, as the country is in the middle of what you might call digital currency scams crisis,

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