Best Trading Platforms Nigeria 2024

Choosing The Best Regulated Trading Platform Nigeria

Choosing the best Nigeria trading platform for you can be overwhelming for new investors. The good news is that many Nigeria investment platforms provide education, research, and trading tools to help you get started. We'll show you how to evaluate new Nigeria trading platforms for example checking they are regulated and where you should begin.

All trading platforms in Nigeria need to be regulated by Securities and Exchange Commission Nigeria. Its also a good sign if when using an international trading platform that serves Nigeria residents if they are regulated by a major European financial regulator like the UK's Financial Conducat Authority (FCA) and Cysec.

Top Nigeria Trading Platforms Compared

Best Trading Platforms Nigeria List

Best Online Brokers Nigeria Reviewed

What Can I Trade on Nigeria Trading Platforms

Trading platforms in Nigeria have seen a have seen huge growth in the last 5 years.

Modern Nigeria trading platforms are easy to find, use and install. The internet's expansion in Nigeria and the rest of the world, the improvement in terms of cost in Nigeria and speed has lowered the barrier to entry to Nigeria traders. More people in Nigeria can now access these online Nigeria trading services and begin trading in minutes. Trading has also been revolutionised by the internet for Nigeria people, which has made trading in Nigeria not only more convenient but also real-time.

We list the most popular tradable financial assets available on Nigeria trading platforms below.

Stocks And Shares on Nigeria Trading Platforms

Nigeria Stock market trading is the buying and selling of company stocks and shares, or other securities through a Nigeria stockbroker and trading platform in Nigeria. Trading on the Nigeria or global stock market is accomplished by placing a buy or sell order to your Nigeria trading platform. A buy order is placed when you wish to purchase a security, and a sell order is placed when you wish to sell the security back to your Nigeria trading platform.

Most people trade stocks and shares with Nigeria online trading platforms. Nigeria trading platforms offer more convenience for local Nigeria residents than traditional brokerage firms that used to handle buy and sell financial instrument transactions by phone.

When trading stocks and shares on a Nigeria trading platform, stocks and shares are the primary source of funds for companies listed on Nigeria and global stock exchanges. Investing on a Nigeria trading platform offers investors a stake in listed companies, as well as a share of that companies profits through dividends. The price of stocks and shares can go up or down depending on how the Nigeria financial market perceives their value.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
UK Stocks	Yes	Yes	Yes	Yes	No
US Stocks	Yes	Yes	Yes	Yes	No
DE Stocks	Yes	Yes	Yes	Yes	No
JP Stocks	Yes	Yes	Yes	Yes	No
Penny Stocks	No	No	Yes	No	No
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Nigeria Fractional Trading

A relatively new trading feature for Nigeria traders that Nigeria trading platforms offer are fractional shares. A fractional share is a fraction of a full share of an equity stock. Stock splits, which don't always result in an even number of shares, frequently result in fractional shares. Fractional shares are not traded on the open market; they can only be sold through a larger Nigeria trading platform brokers. Nigeria trading platforms that offer fractional shares allow Nigeria traders to buy shares with a lower barrier to entry.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Fractional Shares	No	Yes	No	No	No
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Cryptocurrency Trading on Nigeria Trading Platforms

In order to be able to trade cryptocurrency in Nigeria, you need a Nigeria crypto trading account. This is where your Nigeria crypto assets are held and perform a similar function to Nigeria bank accounts used in the real world. You will need to create a crypto Nigeria trading account if you are from the Nigeria, so that you can start buying and selling cryptocurrency with ease.

Cryptocurrency trading is one of the fastest growing financial markets in the world today. It has grown exponentially over the past few years and it shows no signs of slowing down. In fact, there are now more cryptocurrencies than ever before and each exchange has an average daily volume that exceeds $1 million USD.

In order to trade cryptocurrencies from Nigeria, you first need to open a Nigeria cryptocurrency trading account with a Nigeria cryptocurrency exchange or crypto Nigeria trading platform. You can then deposit cash from your Nigeria bank or credit card into a Nigeria trading account in order to buy different cryptocurrencies with USD dollars or other fiat currencies available in Nigeria.

After you have purchased your digital assets on a Nigeria trading platform, you can withdraw your Nigeria crypto assets onto your local computer or store them in another software wallet that you have control of in Nigeria.

Make sure you trade cryptocurrencies with a well regulated and secure trading platform in Nigeria. If you decide to leave crypto on a unregulated unsecure Nigeria exchange, be careful not to keep too much of your digital currency on any one Nigeria trading platform as unregulated Nigeria crypto trading platforms are known for getting hacked.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Crypto	Yes	No	Yes	Yes	No
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

ETFs on Nigeria Trading Platforms

Most modern online Nigeria Trading platforms allow trading in ETFs. Exchange-traded Funds (ETFs) in Nigeria are a type of investment that trade on an exchange just like stocks. The value of ETFs is based on the collective value of their underlying assets. Because they trade on an local Nigeria or global financial exchange, ETFs can be bought and sold at any time on a Nigeria ETF trading platform during market hours. Nigeria trading platforms allow Nigeria traders to purchase partial shares or full shares depending on the desired commitment to the investment and ability to pay for it.

Indices on Nigeria Trading Platforms

Nigeria indice trading platforms allow Nigeria traders to invest in local Nigeria Indices and stock indexes as well as indices on financial markets all over the world.

Financial market indices are used to measure changes in the value of a Nigeria or global selection of stocks, bonds, or other financial assets.

The most common Global indices Markets include: the London Stock Exchange, the Dow Jones Industrial Average (DJIA), Standard & Poor's 500 (S&P 500), the NASDAQ Composite, and the Russell 2000.

Financial indices are also referred to as stock market indices or a stock market index. The Dow Jones Industrial Average (DJIA) is often referred to as the “Dow 30” or “the Dow,” while the Nasdaq Composite is also referred to as the “Nasdaq”.

When trading on Nigeria trading platforms, financial indices are designed to show how a group of Nigeria or worldwide stocks performs in relation to other market-traded stocks or indexes. Financial indices can measure stocks on an absolute basis or relative basis.

A benchmark index is a statistical measure of the value of a section of the global or Nigeria stock market. It is computed from the prices of specific selected stocks and reflects changes in their valuations.

Financial indices can help Nigeria investors using Nigeria trading platforms understand how markets have performed over time from month-to-month and year-to-year against local Nigeria financial markets and markets all around the world.

Bonds on Nigeria Trading Platforms

Bonds from Nigeria and all over the world can be actively traded on Nigeria trading platforms.

Bonds are a kind of loan from individuals or institutions to the Nigeria government. They help governments meet their borrowing needs and finance their local Nigeria expenditures. Nigeria Bonds can be issued as either long-term (20 years or more) or short-term (less than three years). These bonds are issued on behalf of the government by its debt manager, the Bank of Canada.

How do Nigeria Bond Trading Platforms Work?

When you buy a bond on a Nigeria trading platform, you're essentially loaning money to the government. When the government receives your loan, it will pay you interest on your investment until its debt is paid off; Usually after 20 years or more. You can choose to hold onto your bonds within your Nigeria trading platform until they mature, sell them before they mature, or put them in a portfolio that automatically re-balances itself by purchasing more bonds when prices fall and selling some when prices rise, an approach called 'rebalancing'.

Commodities on Nigeria Trading Platforms

When trading from Nigeria commodities trading is a way of investing in commodities through contracts. Some of the examples of commodities are gold, silver, oil, stocks and other goods that are traded in the public market. Modern trading platforms allow Nigeria residents to trade commodities not only from Nigeria but also commodity markets all over the world across multiple timezones via commodity futures or commodity CFD trading.

Nigeria investors have a choice to either go for futures or physical commodities. A futures contract is a standardised legal agreement between unrelated parties to buy or sell something at a predetermined price at a predetermined time in the future. Physical options are where you directly acquire some goods as soon as you agree to a deal; however, this requires more funds which is why many people prefer going for futures options.

Margin Trading on Nigeria Trading Platforms

Margin trading on Nigeria trading platforms have a higher profit potential than standard trading, but it also comes with a higher level of risk. The repercussions of losses are amplified when buying stocks on margin. A margin call, which asks you to sell your stock position or front more funds to keep your investment, may also be issued by the broker.

Stock CFD Trading on Nigeria Trading Platforms

Trading traditional stocks and shares are usually better suiting for long term trading. Modern online trading platforms in Nigeria allow CFD stock trading.

CFD stock trading is where more experienced traders can speculate on a stocks up or down price movement using leveraged margin trading which allows a fraction of a traded amount to be placed with a Nigeria CFD stock trading platform.

Stock CFD trading is high risk and you may lose more than your deposited amount with some Nigeria trading platforms. No underlying real company stocks are brought on a CFD stock trade on your Nigeria trading platform. A CFD stock trade is a speculative deal between you and your Nigeria CFD stock broker platform on a stock assets price movement.

ETF CFD trading on Nigeria Trading Platforms

When you trade ETFs as CFDs (Contracts for Difference), you are investing in the price of the ETF rather than the actual ETF. The market value of the financial instrument that a CFD instrument represents is used to calculate its value. Most trading platforms in Nigeria will allow speculative trading in ETFs through CFDs. Check you fully understand what ETF CFDS are as they hold risk and what CFD ETFs your trading platform in Nigeria specfically offers.

Commodity CFDs on Nigeria Trading Platforms

Commodity CFDs although high risk due to their leverage feature, are a versatile tool for experienced Nigeria investors. Trading platforms in Nigeria allow CFD trading in commodity futures at a fraction of the cost of trading tradtional commodities. You can also utilise Stop Loss and Take Profit orders on your Nigeria trading platform to automate trades, leverage to raise your position's exposure, and technical analysis to construct exact strategies. Understand that no underlying commodities are traded on your Nigeria trading platform with a commodity CFD. A commodity CFD is high risk speculation using leverage on up or down price movement on a specific commodity between the trader and the Nigeria trading platform.

Bond CFDs on Nigeria Trading Platforms

Some trading platforms in Nigeria allow Nigeria traders to trade Bond CFDs.

A bond CFD is a form of financial derivative trading. When you trade a bond, you are taking a position on the price of the underlying instrument and not purchasing the instrument itself. Bond CFDs use leverage which is very high risk.

Nigeria trading platforms sell bond CFDs, which are financial instruments. The reference asset for each Bond CFD is a specific Nigeria or global bond financial instrument. The capital return of the instrument is the difference between the open and closing prices of the reference bond, which is what CFDs stand for. When trading CFDs, the difference is settled in cash, and no physical delivery of bonds is required.

Futures CFDs on Nigeria Trading Platforms

Futures CFD trading is available on most trading platforms in Nigeria.

Futures contracts are standardized agreements or contracts with obligations to buy or sell a particular asset at a preset price with a future expiration date. Although CFDs allow investors to trade the price movements of futures, they are not futures contracts by themselves.

Futures CFDs are high risk leveraged trades on speculative Futures price movements up or down with your Nigeria trading platform or broker. With a Futures CFD you are not trading any underlying Futures assets. Futures CFDS although high risk can have a lower barrier of entry than traditional Futures trading.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Stock CFDs	110	8400	625	9,000	65
ETF CFDs	30	50	59	250	50
Commodity CFDs	20	20	27	6	20
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Forex Trading on Nigeria Trading Platforms

Forex, short for foreign exchange, is the largest financial market in Nigeria and the rest of the world. Trading currencies in Nigeria allows you to take advantage of the swings in values in local Nigeria and global currencies, and the volatility that occurs between different countries currencies. On your Nigeria trading platform, Nigeria residents can trade on these price differences with the goal of making a profit from speculating on price movements, or using currency fluctuations to hedge against losses in another investment position. All of this can be done on modern online Nigeria trading platforms.

Different Nigeria trading platforms offer different currency pairs available. All major currency pairs will be available on your Nigeria trading platform, but if you need some more exotic currency pairs when trading from Nigeria, you will need to check they are available in your Nigeria trading dashboard.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Forex	Yes	Yes	Yes	Yes	Yes
Major Pairs	Yes	Yes	Yes	Yes	Yes
Exotic Pairs	Yes	Yes	Yes	Yes
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Trading Platform Nigeria Features & Tools

Nigeria trading platforms offer varying features and tools that help Nigeria traders with technical analysis and financial market research. Nigeria trading account tools can include a range of chart types, technical indicators, market news, advanced order types, trading simulators and faster order executions.

MT4 on Nigeria Trading Platforms

MT4 is a Forex and CFD trading platform, which means you can trade Forex online with it. MT4 stands for MetaTrader 4 and it was developed by MetaQuotes Software Corp., a Russian software company that has been in business since 1999.

MetaQuotes is still one of the market leaders when it comes to Nigeria Forex trading platforms, but there are other companies like eToro which also offer their own trading platform solutions.

While the basic features of MT4 and other similar platforms may look quite similar, there are some differences between them that you need to keep in mind before picking one or another. If you have used MT4 before and are happy with it check if your Nigeria trading platform offers MT4.

MT5 on Nigeria Trading Platforms

Unless your Nigeria trading platform have built their own proprietary trading platform, your Nigeria broker is probably using MT5 or MT4 as their trading platform for Nigeria residents.

MT5 is a more modern version of MT4 offering more technical indicators to Nigeria traders. MT5 has more technical analysis tools like depth of market which allows Nigeria traders to view financial instrument bid prices across many global financial markets, not just the Nigeria market. MT5 offers over twice as many timeframes on its charting tools to Nigeria users. MT5 is not just for CFD trading. MT5 is a multiasset trading platform allowing trading stocks, commodities, futures, Forex and cryptocurrencies. MT5 is 64 bit and has been designed for speed. Check if your Nigeria trading platform offers MT5.

cTrader on Nigeria Trading Platforms

cTrader is a full-featured trading platform that Forex and CFD firms can provide to their Nigeria clients. The cTrader platform is jam-packed with features that cater to most Nigeria traders needs. If you are looking for a trading platform in Nigeria that offers automated trading facilities to users in Nigeria. cTrader is known for is popular accessible programming language. Check to see if your Nigeria trading platform offers these features if you need this functionality.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
MT4	Yes	Yes	Yes	Yes	Yes
MT5	Yes	Yes	Yes	Yes	Yes
cTrader	Yes	No	No	Yes	No
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

STP Accounts on Nigeria Trading Platforms

A Forex broker that offers Straight Through Processing of trade orders is known as a STP broker. These are brokers who submit the trader's orders directly to liquidity providers (big banks) for processing and fulfilment of trade orders.

STP brokerages can often provide tight spreads and cost of execution without the disadvantage of a dealing desk's higher costs.

ECN Accounts on Nigeria Trading Platforms

A real ECN account is a pure order-matching execution system in which the Nigeria trading platform charges a premium as commission per trade rather than artificially inflating the raw spread that occurs naturally during the order-matching process.

In liquid market situations, Nigeria ECN accounts might offer tighter spreads and a lower overall cost of trading in Nigeria.

DMA Accounts on Nigeria Trading Platforms

Direct market access (DMA) is an electronic trading strategy that allows Nigeria investors to conduct transactions on Nigeria trading platforms by engaging directly with an electronic order book. An order book is a collection of orders listed on Nigeria trading platforms. Nigeria DMA trading platforms displays prices and volumes and is a list of orders that records the orders placed on the stock exchange by buyers and sellers. If you require DMA trading in Nigeria check your Nigeria trading platform offers it.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
STP	No	Yes	No	Yes	Yes
ECN	Yes	Yes	No	Yes	No
DMA	Yes	No	No	Yes	Yes
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Social Trading on Nigeria Trading Platforms

Social trading is a form of investing in which Nigeria individuals copy or mirror the trades or portfolios of other, more successful investors. Social trading allows you to invest in ways that were previously only available to a select few institutional investors – including hedge fund managers, investment bankers, and venture capitalists.

It can take decades for Nigeria traders to build up the necessary experience and expertise to fully understand risk and make consistent profits on financial markets. With social trading, new traders can research and follow the trades of more successful Nigeria and global traders.

It takes some skill to identify skilled traders whom you should follow closely on Nigeria trading platforms. Fortunately, many Nigeria trading platforms offer Nigeria users trading tools designed specifically for this purpose. A social trading Nigeria portfolio should be well diversified to help mitigate trading risks.

Copy Trading on Nigeria Trading Platforms

Copy trading is a system that allows Nigeria investors to copy the trades of other traders not only in Nigeria but all over the world. Nigeria traders can either trade a specific financial instrument or the market as a whole. While it can be done manually, it is now common for Nigeria trading platforms to offer copy trading on their Nigeria platforms. Copy trading is offered by many Nigeria brokers including eToro, but not all Nigeria copy trading platforms have the same trading features and systems. The best way to find out about the details of how each Nigeria trading platforms offers copytrading is to read each Nigeria copytrading platforms user guides. eToro is the biggest social trading and copytrading platform in the world with over 20 million registered users.

If you do opt in for a Nigeria copy trading platform, then it will generally be up to you which trades you want copied from other Nigeria or worldwide traders and when those copies should be made. You will normally be able to choose between having one-to-one copies of every trade made by another investor on your Nigeria copytrading platform or having automatic 'buy' and 'sell' copies made automatically once per day at a set time so long as there has been activity during that day in that option or market as a whole.

If there hasn't been any activity during the day (or no new positions being opened) then no automatic copies will be made on your Nigeria trading platform until there is some activity again after midnight GMT/UTC time (the default time zone set by most brokers). It really depends on what your Nigeria trading platform offers with their own system so always check first before making any assumptions with your trades.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Copytrading	No	Yes	Yes	Yes	Yes
Social Trading	Yes	No	Yes	No	No
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

VIP Trading Account on Nigeria Trading Platforms

Trading with a Nigeria VIP account is similar to trading with a personal market analyst, but with the added benefit of lower Nigeria trading fees and lower latency for faster execution for Nigeria traders.

VIP trading accounts are preferable to normal accounts since they come with a slew of extra features. These accounts are open to both professional and individual traders of any degree who have a big amount of money to trade.

Many Nigeria trading platforms offering VIP accounts offer Nigeria users additional trading features including free VPS trading machines, hosting service, no deposit/withdrawal fees, private consultations with a Nigeria personal account manager, exclusive seminars and events which may be available locally in Nigeria or worldwide. Nigeria VIP trading account features vary between Nigeria trading platforms. Check to see what your VIP Nigeria trading platform offers.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
VIP Accounts	No	Yes	Yes	No	Yes
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Auto Trading on Nigeria Trading Platforms

Automated trading in Nigeria is a way of participating in financial markets by executing pre-set procedures for entering and leaving trades on Nigeria trading platforms through a computer programme. As a Nigeria automated trader, you'll combine in-depth technical analysis on global and Nigeria financial instruments, with the creation of position characteristics like open orders, trailing stops, and guaranteed stops.

Many Nigeria trading platforms offer APIs and programming languages allowing traders in Nigeria to make use of and add automation to their investment strategies. MT4, MT5, cTrader all offer Nigeria traders access to automated trading features.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Automated Trading	Yes	Yes	Yes	Yes	Yes
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Nigeria Mobile Apps on Nigeria Trading Platforms

Trading in Nigeria and worldwide financial instruments such as the stock market, cryptocurrencies, Forex, commodities, Indices, ETFs, and CFDs using a smartphone or tablet, such as an Apple or Android device, is known as mobile app trading. Nigeria mobile trading apps have become more advanced as technology, software and the internet has progressed in the last 5 years. Trading in Nigeria a decade ago was previously mostly conducted through desktop trading, which was done using a PC or Apple Mac computer. No mobile app trading in Nigeria on Nigeria trading platforms in now faster and easier. With the help of a variety of Nigeria trading apps, a Nigeria trader can purchase and sell financial instruments as well as manage a portfolio on his or her mobile phone.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Mobile Apps	iOS, Android and Windows	iOS	iOS and Android	iOS, Android	iOS, Android
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Trade Signals on Nigeria Trading Platforms

Trading signals are instructions to purchase or sell a security based on a set of pre-defined parameters. Nigeria Traders can develop trading signals on many Nigeria trading platforms based on a range of parameters, ranging from simple ones like earnings reports and volume surges to more complicated signals drawn from previously generated signals and technical data.

If you are looking for a Nigeria trading platform that offers trading signals, make sure you understand that they are very high risk. Check to see if your trading platform in Nigeria is well regulated and able to offer trading signals to traders in Nigeria.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Signal Trading	Yes	Yes	Yes	Yes	No
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Islamic Accounts on Nigeria Trading Platforms

Nigeria Islamic Trading accounts in Nigeria are designed to allow Nigeria traders to trade in accordance with the ethical principles of Islam.

Nigeria Islamic trading accounts reflect the Islamic prohibition against trading (“gambling”) by excluding speculative investments that include buying on margin or borrowing money to trade, and by only allowing certain asset classes such as currencies, commodities and stocks. However it does allow for certain riskier trades including options and derivatives.

Nigeria traders who wish to trade using a Islamic compatible trading platform available in Nigeria should be aware the Shariah rules for Islamic Financial instruments are set out in detail by the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI).

The AAOIFI have codified all aspects of these financial instruments including how they should be structured. These rules cover topics such as profit-sharing arrangements which protect returns from being used before earning them; one-year contracts which prevent speculation on short-term price volatility; regular payments on deposits which remove the element of risk from banks depositors; and interest rates which are not excessive. If you are looking for for a Nigeria Islamic trading account check your Nigeria trading platform offers these Islamic compliant trading accounts.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Islamic Accounts	Yes	Yes	Yes	Yes	Yes
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Demo accounts on Nigeria Trading Platforms

A Nigeria demo trading account is a type of account provided by Nigeria trading platforms that are filled with fictitious virtual trading funds raning from 100k USD that allows a potential Nigeria trader to test the Nigeria trading platform and its features before opting to open a real Nigeria trading account.

If you are new to trading it is essential you learn to trade first with a Nigeria trading platform, before risking losing real money on a live Nigeria trading account. Demo accounts are free on most reputable Nigeria trading platforms.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Demo Accounts	Yes	Yes	Yes	Yes	Yes
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Financial Regulation on Nigeria Trading Platforms

Financial regulation in Nigeria is the process of controlling and managing financial services in Nigeria regional area. It combines aspects of Nigeria law, consumer protection and economics. Governments like Nigeria often implement financial regulations to prevent industry abuse, ensure fairness and protect consumers from mismanagement or fraud for Nigeria residents. Nigeria and international financial regulators also control the amounts of risk that Nigeria individual retail trading can take with their investments.

Nigeria Financial Regulation

All trading platforms in Nigeria need to be authorised and overseen Nigeria financial regulators including by Securities and Exchange Commission Nigeria. Traders in Nigeria can also use online trading platforms that serve Nigeria residents. Check that any online trading platform you use from Nigeria is regulated by a major European financial regulator like the UKs Financial Conduct Authority (FCA).

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Regulated By	Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)	Financial Services Commission (FSC) License 000138/437	Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)	Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Financial Services Authority (St. Vincent and the Grenadines)	Cyprus Securities and Exchange Commission (CySEC), License No: 209/13
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Nigeria Trading Platform Customer Service

Phone Support on Nigeria Trading Platforms

For most trading platform users in Nigeria, it's more convenient to call a phone number and speak to an actual Nigeria trading platform support person when we need help. Nigeria trading platform phone support also allows you to ask questions in real time without having to wait for an email response. A real human from Nigeria who is able to talk in your language can answer all of your Nigeria trading platform questions, and if they don't know the answer, they can connect you with someone who does.

A good Nigeria trading platform phone support person will not only answer your Nigeria trading platform questions. A thing to note is that although a Nigeria trading platform support person can help you resolve Nigeria trading platform issues, they cannot and are not allowed to give you financial advice.

Live Chat Support on Nigeria Trading Platforms

Livechat is the most popular method of contacting your Nigeria trading platform. Nigeria trading platforms that offer livechat support are able to offer answers to Nigeria traders queries in often less than 5 minutes. Livechat sometimes is reserved for VIP Nigeria traders trading in higher volumes. Check to see if your Nigeria trading platform offers livechat to Nigeria traders.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Live Chat	No	No	Yes	Yes	No
Phone	No	Yes	Yes	Yes	No
Email	Yes	Yes	Yes	Yes	Yes
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Nigeria Trading Platform Minimum Deposits

Nigeria trading platform minimum deposits usually range from $0 up to $1000 dollars plus depending on the type of Nigeria trading account (i.e., margin vs non-margin).

Nigeria trading platforms set minimum deposit requirements that vary for each account depending on the type of trading and features you require for your Nigeria trading account. Many Nigeria trading accounts offer low minimum deposits and commission fee trading. If you require margin based trading or more advanced trading tools and features you may need a Nigeria trading platform which requires a greater minimum despost.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Min Deposit	200	10 USD / 10 EUR	100	100	10
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Does It Matter How Many Traders My Nigeria Trading Platform Has?

One benefit to trading with a large volume Nigeria trading platform with a larger amount of users, is that you have access to more liquidity from other traders on the Nigeria trading platform looking to invest in your chosen financial asset whether is stocks, currency, crypto or commodities. You can buy or sell with greater confidence knowing that there is a great chance there someone else on either side of your trade looking to take advantage of changes in the financial markets. eToro for example has over 20 million registered traders.

In addition, if you want your money quickly, high volume Nigeria trading platforms will offer quick settlement times as well as fast execution speeds on their Nigeria trading platforms. When placing an order with a lower volume Nigeria trading, it may take longer for your transaction to complete since only a handful of people use their Nigeria trading platform leading to an increased risk in the financial markets changing while waiting for confirmation of a buy or sell order on your Nigeria trading platform.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Usedby	180000	10000	200000	10000	10000
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Educational Resources on Nigeria Trading Platforms

Many of the more established Nigeria trading platforms offer Nigeria traders a range of learning and educational resources that Nigeria traders can use to learn more about Nigeria trading platform trading tools and technical analysis and financial market search. These educational resources on Nigeria trading platforms can range from how to trading videos, market research article guides, trading webinars, free courses and podcasts. See what your shortlisted Nigeria trading platforms are able to offer you.

Trading Platforms Nigeria Trading Fees Explained

Make sure you are fully aware of all the fees and commissions that your short listed Nigeria trading platforms charge. Check and compare the fees that Nigeria trading platforms that you decided upon charge. Some trading platforms in Nigeria may charge monthly fees for having accounts open with them but some are free or charge very little if any at all.

Paying additional fees on your Nigeria trading platform may be necessary in you require some more advanced trading tools. But if you do not require these tools pick a Nigeria trading platform without these fees.

Nigeria Share Dealing Fees

There is a charge for each purchase and sell transaction you make on a Nigeria trading platform for shares on the local Nigeria and global stock markets.

Generally on Nigeria trading platforms, the lesser the cost, the larger the share transaction. A minimal fee is charged by Nigeria trading platforms. Fees of stocks and shares vary from 0.1% to 3%. Depending on your Nigeria trading platform share dealing fees might be as low as 0.1 percent for larger trades.

Nigeria Trading Commission

Trading commission is the amount charged by the Nigeria trading platform to execute a trade. The amount of commission charged by different Nigeria trading platforms varies depending on the asset traded and the type of service provided. Check you understand and are happy with your shortlisted Nigeria trading platform trading commissions before trading.

Nigeria Spreads

When Trading on a Nigeria trading platform the difference between the bid and ask prices for a currency pair is called a spread. In forex, spreads are typically much smaller than in other markets like equities or commodities. If you trade with a more liquid Nigeria trading platform with larger user bases the spreads should generally be better. Check you undertand your Nigeria trading platforms spreads well before trading.

Nigeria Trading Platform Fees

Nigeria Overnight Financing Fees

When trading on a Nigeria trading platform using a leveraged trading you may have to pay an overnight financing fee. Overnight financing is a price you pay to keep a trading position open overnight on leveraged transactions; It's effectively an interest payment to cover the cost of the leverage you're using overnight. Positions with no fixed expiration date are subject to overnight financing charges. Check what overnight fees your Nigeria trading platform charges if you are planning to use leverage trading.

If you're trading CFDs on a Nigeria trading platform, you may have to pay an overnight finance cost if you keep your trade open past a specific period. Because of overnight fees CFDs that are charged by all Nigeria trading platforms, they are better suited for short-term trading strategies.

Nigeria Trading Platform Transaction Fees

Some Nigeria trading platforms allow you to deposit and withdraw funds fee-free, while others will implement a charge. This might be based on your chosen payment method or because you are using a Nigeria trading platform that is denominated in a currency other than the currency of your Nigeria bank account. One currency has to be converted to another which may incur a fee.

Nigeria Trading Platform Inactivity Fees

Certain Nigeria trading platforms may charge a fee if your account remains inactive for a certain amount of time. If you are no longer using your Nigeria trading account or forget about it, check you are not liable for any inactivity fees. If you are no longer using your Nigeria trading account be sure to contact support and close your Nigeria trading platform account.

Nigeria Forex Trading Fees

Nigeria trading platforms do not offer free Forex trading. When you trade Forex, you can expect to pay a fee no matter what your trading strategy is, through spreads. The Forex spreads fees differ with each Nigeria trading platform. Some are more competitive than other Nigeria trading platforms. Some Nigeria trading platforms charge a fixed spread while other Nigeria trading platforms change a variable spread. Fixed spreads are are determined by the Nigeria trading platform and remain constant regardless of market conditions or volatility. Fixed spreads allow you to plan your investment strategy by knowing your spread cost ahead of time. Variable spreads may for experienced traders be beneficial if a financial market is less volatile depending on the investment strategy and goals.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Withdrawal Fee	No	Yes	No	No	No
Deposit Fee	Varies	No	No	Yes	No
Inactivity Fees	No	No	No	No	No
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

Nigeria Trading Account Payment Methods

When trading with a Nigeria trading platform online, there are a variety of payment options accessible to Nigeria traders; Depending on which Nigeria trading plaforms you shortlist each will have different deposit and withdrawal methods. Each trade payment option has its own set of benefits and cons in terms of costs, processing times, and limits.

Some traders consider the time it takes to execute a payment to be critical, while others are content to wait a few days. Similarly, transaction costs may be more or less essential depending on whether you will make numerous little transactions or fewer, larger ones.

Popular Nigeria Trading Plaform Payment Methods

The funding and withdrawal methods a Nigeria Trading Plaform offers is very important when trading. The number of payment methods available to Nigerian traders is increasing every month.

Popular payment methods available on Nigeria Trading Plaforms include Nigeria Bank Transfers, Nigeria Debit Cards, Nigeria Credit Cards, PayPal, Neteller, Skrill, Rapid Transfer, iDeal, Klarna and Poli. Funding and withdrawal payment methods differ from broker to broker in Nigeria.

Name	IC Markets	Roboforex	AvaTrade	FP Markets	NordFX
Payment Methods	BPAY, Credit Card, FasaPay, Giropay, Mastercard, Neteller, PayPal, POLi, QIWI, Rapid Transfer, Skrill, UnionPay, Visa, Wire Transfer, Yandex Money	ADVcash, Alipay, Bitcoin Payments, Cashu, FasaPay, Giropay, iDeal, MoneyGram, Neteller, Perfect Money, POLi, QIWI, Rapid Transfer, SafeCharge, Skrill, Sofort, Trustly, Vietcombank Transfer, Visa, Webmoney, WeChat Pay, Wire Transfer, Yandex Money	Bitcoin Payments, Credit Card, Debit Card, FasaPay, JCB Card, Mastercard, MoneyGram, Perfect Money, Skrill, Swift, Webmoney, Western Union, Wire Transfer	BPAY, Credit Card, FasaPay, Neteller, PayPal, POLi, Skrill, Visa, Wire Transfer	Cashu, Perfect Money, QIWI, Yandex Money
riskwarning	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits	Try Now 71% of retail CFD accounts lose money	Try Now Losses can exceed deposits	Try Now Losses can exceed deposits

How to Open a Nigeria Trading Account

Step 1: Open a Nigeria Trading Account

When opening a Nigeria trading account. Set up two factor authentication as well as a strong password; we recommend using Google Authenticator for extra security; Make sure that email addresses associated with your Nigeria trading account are verified.

Verifying your Nigeria trading account will you to access your withdrawal history should any issues arise in future;

Step 2: Confirm Your Nigeria Identity

Online trading platforms Nigeria, require a Nigeria resident to have a verified Nigeria account with them before they will let you trade on their Nigeria trading platform.

Nigeria trading accounts will require some form of identify verification such as Nigeria social security number or equivalent, Nigeria drivers license or Nigeria passport. You will not be able to trade on your selected Nigeria trading platform until you have passed verification checks. This is due to the financial regulation Nigeria trading platforms have to adhere too. Verification of your Nigeria trading account may take 2-10 working days but may be faster.

Step 3: Deposit Funds To Your Nigeria Trading Platform

Nigeria trading platforms offer a wide range of deposit funding methods before you begin trading. Pick a deposit method that you are most comfortable with. Remember to keep your Nigeria trading platform minimum deposit requirements in mind when opening your new Nigeria trading account. The minimum deposit requirement amounts may vary depending on the type of Nigeria trading account you decide to open.

Step 4: Research a Financial Instrument To Trade On Your Nigeria Trading Platform

Research financial instrument is one of the most difficult parts of trading on a Nigeria trading platform. Experienced traders have spent years learning how to understand market sentiment using technical analysis and charting tools. To use a Nigeria trading platform effectively you will have to spend time to understand how these tools work.

One of the most important things you can do when researching a financial asset on a Nigeria trading platform, is to look at financial statements, annual reports and historical price data. You need to have a good understanding of how your financial instrument makes money, what they spend their money on, and more importantly, the financial markets sentiment towards the financial instrument. A Nigeria trading platform will offer market research tools but you must use your own judgement and understand what you are doing.

Step 5: Place a Trade

Create a watchlist or browse the financial markets on your chosen Nigeria trading platform.

Open the chart of the financial asset you want to invest in.

Your Nigeria trading platform will have a range of tradable financial instruments available. Whether it's a stock, commodity, currency pair, or crypto asset your have selected on your Nigeria trading platform, click 'Buy' or 'Sell' for the desired financial asset.

Enter the number of units you want to buy or sell. Set up your Take Profit and Stop Loss levels on your Nigeria trading platform. If you do not know what risk management strategies are learn about them before trading on a Nigeria trading platform.

Before you click buy make sure you understand the trading risks and know clearly what you are doing. Do not trade with money you cannot afford to lose. Trading on the financial markets on a Nigeria trading platform holds risks. Click on the Buy Trade button.

On your chosen Nigeria trading platform, your trade will be sent for order execution by your Nigeria trading platform immediately.

Best Trading Platforms Nigeria Verdict

Their has been a huge growth in online trading in Nigeria. New Nigeria trading platforms have seen their user bases see huge spikes in registrations over the last 2 years as new traders embrace trading online in Nigeria.

Modern Nigeria trading platforms are good because they offer both the traditional financial instruments like stocks and shares, Forex and commodities and the futures markets along with new financial markets like cryptocurrencies and higher risk leveraged trading options like CFDs.

Modern online trading platforms in Nigeria offer Nigeria traders access to thousands of tradable financial assets in multiple asset classes on financial markets not just in Nigeria, but all over the world. Modern Nigeria trading platforms offer very advanced trading tools, all available online, through a mobile app or even as downloadable software. Mordern Nigeria traders can easily place buy and sell orders from just there mobile devices anywhere in the world.

Best Trading Platforms Nigeria 2024 Frequently Asked Questions

We answer the most frequently asked Nigeria trading platform questions below.

What is the best trading platform in Nigeria?

The best Nigeria trading platforms is eToro. eToro has the worlds most advanced online social trading platform with 0% commissions charged on real stocks.

What is the best platform for beginners in Nigeria?

Here are some of the best trading platforms for beginners in Nigeria: eToro - best for following more experienced traders. XTB - Low fees, good tools and fast account opening. Avatrade - Great research tools and free withdrawal and deposit options.

What is the safest Nigeria Trading Platform?

eToro is among the safest trading platforms in Nigeria as they are heavily regulated.

What can I trade on Nigeria Trading Platforms?

Nigeria trading platforms allowing trading in stocks, commodities, futures, ETFs, CFDs, Forex and cryptocurrencies.

Related Guides

• Best Trading Platforms Nigeria
• Best Stock Trading Apps Nigeria
• Trade US Stocks in Nigeria
• Best Indices Brokers Nigeria

Best Stock Trading Apps Nigeria Reviews

We also have in depth reviews of each of the best Nigeria trading platform reviews listed below.

Best Trading Platforms Nigeria Reviews

We also have in depth reviews of each of the best Nigeria trading platform reviews listed below.

• IC Markets Review (read our in depth 2024 reviews)
• Roboforex Review (read our in depth 2024 reviews)
• AvaTrade Review (read our in depth 2024 reviews)
• FP Markets Review (read our in depth 2024 reviews)
• NordFX Review (read our in depth 2024 reviews)
• Pepperstone Review (read our in depth 2024 reviews)
• XM Review (read our in depth 2024 reviews)
• eToro Review (read our in depth 2024 reviews)
• FXPrimus Review (read our in depth 2024 reviews)
• easyMarkets Review (read our in depth 2024 reviews)
• Trading 212 Review (read our in depth 2024 reviews)
• SpreadEx Review (read our in depth 2024 reviews)
• Admiral Markets Review (read our in depth 2024 reviews)
• Swissquote Review (read our in depth 2024 reviews)
• Axi Review (read our in depth 2024 reviews)

Best Trading Platforms Nigeria Alternatives

We also have in depth guides of the best Nigeria alternative trading platforms for each Nigeria broker below.

• IC Markets Alternatives
• Roboforex Alternatives
• AvaTrade Alternatives
• FP Markets Alternatives
• NordFX Alternatives
• Pepperstone Alternatives
• XM Alternatives
• eToro Alternatives
• FXPrimus Alternatives
• easyMarkets Alternatives
• Trading 212 Alternatives
• SpreadEx Alternatives
• Admiral Markets Alternatives
• Swissquote Alternatives
• Axi Alternatives