Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team. The country has vast deposits of natural resources such as iron ore, coal, niobium, bauxite, lead and tin, as well as natural gas and of course crude oil. In the last couple of years, the mobile trading industry has exploded and, today, every top broker provides great mobile investment platforms in Nigeria and abroad. When it comes to starting a business Nigeria also ranked low at th, while the country ranked somewhat better at 38th for protecting minority investors. The reason being that Nigeria lacks a local regulatory body for this type of trading. Get started trading forex , commodities, indices, ETFs, stocks CFDs and more by selecting your language from our selection of websites below.
5 Best Forex Trading platforms in Nigeria
For Nigerian traders, besides fees or other charges, trading platform remains the most important consideration while choosing your forex broker. The best forex trading platforms should offer a downloadable desktop, mobile apps or web-based trading platforms. In order to help you find the best forex trading platform, we have tested all the platforms. Here we go. Visit FXTM. It comes with full support for web, desktops and mobile devices.
Account Type
I am actually based in the US, but a friend told me to open an account from Nigeria to avoid paying tax. Hope to get some insightful responses. Well, there are quite a number of Fx Brokers in Nigeria. Of all, I use Alpari and recommend it. I use Alpari for zulutrade, there are other services you will enjoy with Alpari. Alpari’s link on my blog at WWW.
One of the Best CFD trading website in Nigeria
For Nigerian traders, besides fees or other charges, trading platform remains the most important consideration while choosing your forex broker. The best forex trading platforms should offer a downloadable desktop, mobile apps or web-based trading platforms. In order to help you find the best forex trading platform, we have tested all the platforms.
Here we go. Visit FXTM. It comes with full support for web, desktops and mobile devices. MetaTrader software at FXTM is one of the best that we have traded on so far, and offers Nigeria forex traders the most advanced features. The MT5 WebTrader platform is also available. The advanced charting tools for technical analysis include: Fibonacci and Gann tools, channels lines, etc and nine timeframes.
Their platform also provides support for various orders including market order, limit orders, stop loss and. Plus, they have inbuilt news feed in their Metatrader. The FXTM platform also supports copy trading. Visit Alpari. Alpari has the latest MT5 software for Nigerian traders, and it has solid features without an freezing or downtime.
They offer instant order execution with Nano, Standard accounts, and market execution with their ECN accounts. Their Metatrader comes with multiple timeframes, order best trading app in nigeria and many technical indicators for technical analysis. Plus, they have an inbuilt news feed to keep track of any news during your trade. Visit Hotforex. It has support for mobile, desktop and web. For trading currency pairs, HotForex offers an impressive but risky leverage ratio of The value of their platform is being able to access the account from anywhere using your iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.
Visit Tickmill. They offer market execution, and we have found their order execution to be very fast with no delays. Their platform has 62 currency pairs which is more than other platforms, but their other instruments are limited. They only offer 15 stock indices, and 2 metals other than forex trading.
Forex trading platforms can vary across a wide array, offering distinct functionalities and features. To find the best fit, asking the right questions is important. If you are a new traders, you would require user-friendly, simple platforms without many indicators or complex order capabilities that could confuse you. Professional or advanced traders could need more advanced indicators on charts and tools, including EAs and code add-ons directly implemented into the platform.
Nigerian forex traders should only choose a platform that is most fit for your trading strategy. Good forex trading platforms simplify research and analysis, making it easy to use even the advanced charting tools, and EAs. In general, be sure to look for one with excellent trading capabilities, live data without any delays, flexible charting tools, EAs and quick order execution.
Here are the tips that best trading app in nigeria should consider while choosing the forex trading platform:. Some brokers only permit trading through a web-based interface. Choose a broker that offers trading platforms compatible across devices, like mobile and tablet, so you can trade on the go or remotely with ease.
You may suddenly need to open or close your orders, even when you are not in-front of your trading screen, so a broker that offers platform with mobile interface would allow you to do just. A good platform will offer you the ability to place multi order types. For advanced traders, availability of multiple order types should be a very important requirements. So it is even more important for traders to only go for a platform that allows placing all various different types of orders.
Orders should be placed quickly and the trading platform should have a good past record for managing re-quotes and minimal downtime. Any delay in your order execution can be a difference between a profitable trade or a loss. Does your trading platform offer wide charting tools like trendlines, moving averages, ability to add technical indicators, and more? A good trading platform should offer easy access to many technical tools for analyzing the financial instruments and markets. The platform should also have a multitude of features and functionalities, ranging across browsing charts simultaneously, changing chart types, scheduling and automatic transaction execution, analysis tools and news updates.
Notifications, alerts, analytical objects, technical indicators, and charting tools should be up to the mark. Even if you are not to fundamental trader still you cannot ignore the news. What if you are placing your order without being aware of an upcoming news that can affect your trade. Hence, news and educational updates on the platform can offer valuable market intelligence for all traders. Advanced and intermediate traders can benefit from news updates which offer actionable insights before placing any trade.
Moreover, updates on training and free video tutorials in a platform, FAQs and multilingual support are good bonus for beginner traders. These offer a good opportunity to get well acquainted with trading tools and build your expertise or further hone your trading skills.
On each trade executed, you will be charged a fixed or a variable spread. You should choose a platform with a broker that offers the lowest spread. Moreover, be sure to check out if there are any commissions and hidden charges for using the platform. Some brokers charge fees for using their platform, and they may also charge extra fees during inactivity.
The trading platform is one of the most important considerations you need to take into account while searching for the right FX broker in Nigeria. The platform should have an easily usable with symbols like currencies and analysis on different time frames. Technical indicators should be readily accessible. Exceptional forex trading platforms should have accurate forex quotes and reliable trade execution. So it is best to choose a broker that offers Metatrader platforms. NG is an Investment Comparison website with an aim to help Investors in Nigeria find the best forex brokers.
Read More. Read full risk disclaimer. All Rights Reserved, Best Forex Trading platforms in Nigeria. But the fees with competitive with ECN accounts. Overall Rating 8. They also have a PAMM account for investors, and an app where you can keep track. They also have their own mobile app. And very low spread for most currency pairs. Alpari has their own app for PAMM account investors. Cons We did not find any cons with their platform so far for.
We will update it once we find something new. Pros Metatrader 4 for multiple devices including web, desktop, and mobile. Tickmill has No dealing desk platform, so their is no conflict of interest with their clients, and orders are placed directly with their liquidity providers. Their platform supports mutiple charts, order types, and EAs for automated trading. Forex trading available on 62 currency pairs. Very few trading instruments other than forex.
Their CFD trading options for stock indices, and metals are limited. Among the popular trading platforms are MetaTrader 4 and 5. These are versatile, popular trading platforms in the currency market. These platforms offer easy charting tools and quick placement of multiple orders, analysis across time frames and technical indicators for popular currency pairs.
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Read our in-depth ThinkMarkets review See More. Plus Plus Choose Account. Mobile trading is hugely popular nigegia Nigeria since more people in the country have smartphones than desktop computers. Due to strict trading regulation in Nigeria and a rather small national stock exchange, the best way to trade stocks is by using online best trading app in nigeria brokers in Nigeria. Established in HQ in United States. Read our in-depth Forex. Nigeria poses some daunting challenges to investors and traders, including the high cost of doing business and some serious risks to public safety due to military coups and internal struggles. Read our in-depth eToro review. Why Avatrade Nigeria? Unsurprisingly, most markets — including Europe, Nigeria. And yes, forex trading is legal in Nigeria. Naturally, all of this was done with the Nigerian market and, based on this extensive reviewing process, we are confident that the brokers recommended above, are the best of the best for Nigerian traders. Adam Jarfjord is a Swedish day trader, investor, and copywriter. Taken overall, these low rankings suggest a challenging environment for opening or operating a business in Nigeria. You should consider whether you can afford to take the high risk of losing your money. The number jn top forex brokers in Nigeria is steadily increasing and there are several great options to choose .
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