Searching for the best forex broker in Nigeria? After detailed research, I found out there are up to 50 so-called forex brokers in Nigeria. I use the word “so-called” because I came to realize that the majority of them are forex agents.
Therefore, it’s wise to search for the best forex broker in Nigeria because it will save you a lot of stress and risk.
In this post, I’ll confidently recommend some brokers that over 95% of Nigerian traders have confirmed as the best forex trading brokers in Nigeria.
Before then, I’ll like to tell you why you should avoid forex trading agents in this forex broker reviews.
It is very risky to trade with forex agents because they serve as middlemen between you and the broker proper. In this case, whenever you want to fund your account, you’ve to pay into their own account first before they will fund the brokers’ account.
This process is so fast that you’ll not know. Though they have been doing well but some traders have suffered a lot from the hands of these agents.
For instance, a few years back, liteforex agent made away with millions of traders’ money. I was with Blackwell’s manager, which is one of the forex trading agents in Nigeria, and he revealed to me how they manipulate their platforms against traders so that they can make money.
To be a forex trading agent you must have paid some huge amount of money to the broker and the broker will carve your own platform for you. In that case, you have total control of what you do to your clients. Trust Nigerians.
So, with this in mind I deem it fit to present to you best forex broker or best forex trading brokers that you can confidently trade with.
Best Forex Broker in Nigeria
After all, I realized we have only 5 reputable and reliable forex brokers in Nigeria. I narrowed down to the best 2, which are hot forex and FXTM.
These 2 forex trading brokers are beginners’ friendly and high score of ease of doing business in so many ways. So let’s take a deep look into the features of these best forex brokers.
Hot Forex Nigeria
The major reason this broker remains the best is that they have the lowest spread among all. In fact, their spread is as low as 0 pips. In other words, they do not charge you for opening trade on their platform.
Also, their overnight commission is almost zero. This means that it will take little or no time for your trade to enter into profit.
They have the fastest trading server, which means that no matter how slow your network is, you can enter or exit a trade. The issue of re-quote is a thing you will never experience with this broker.
The Lagos office of this best forex broker is at 90 Allen Avenue, Allen, Ikeja. They are fully licensed regulated by FCA (Financial Conduct Authority) Nigeria.
Once you walk into their office you will be greeted with a large notice board stating all the regulatory bodies that oversee their activities.
Therefore, it is highly safe to release your hard-earned money to these brokers because they have all the power to operate here in Nigeria.
A look into their willingness to help you make money as a forex trade reveals that they have a comprehensive education plan for their clients.
Their education plan is tailored to fit beginners, intermediate and professional forex traders.
This education is served in e-course format, video tutorials, webinars, seminars, and special events.
So, no matter your preferred way of learning, there is a place for you to learn how to trade forex with this forex broker.
To enjoy the wonderful trading experience with this broker, Click Here to Sign up
More Advantages of Trading with This Best Forex Broker
They have a very high score of ease of doing business. This entails that you can easily fund your account and withdraws your trading profits within hours.
In fact, you can fund your account in Naira and withdraw in Naira. So the problem of going to aboki to change your money into dollars is a thing of the past.
There are so many available forex trading platforms you can enjoy from this forex broker. They have Mt4 for desktop, MT4 Web terminal, MT4 Andriod, MT4 iPhone tracker, MT4 Ipad tracker, and mT4 multitermianl.
In addition, they have MT5 in all the devices mentioned above. So, no matter the device you are using, you can comfortably trade with this best forex broker in Nigeria.
You have more than 250 forex pairs to trade with this broker.
Hot forex has their flaws but the flaws are not deal breaker. For instance, they have very slow customer service. Yes, it takes a very long time to get some technical issues resolved from their end.
Though they promised to improve on that, and it seems they have done that because one of my friends just opened an account with them. He said he received a quick response from a dedicated account manager.
Another challenge you may face when trading with this best forex broker in Nigeria is that in a very volatile market, you may not be allowed to trade. Though it is usually done to protect clients’ fund.
2. FXTM Nigeria
In this my forex broker reviews, it is obvious that FXTM Nigeria is the second-best forex broker in Nigeria. They have almost every feature with that of the hot forex.
But they are not friendly to clients’ money because they have a very high spread and overnight commission.
But the truth is that good trader don’t get much worried about the spread and overnight commission because they know at last they will win most of their trades.
If you’re considering the safety of your money then this is a broker to work with because they are highly licensed and regulated here in Nigeria.
In fact, they have the fastest customer service. No matter the challenges you are facing with their platform, it is usually resolved within hours.
Also, their education plans and execution is second to none in Nigeria. Yes, if you follow their tutors then you are sure of being a competent forex trader in no distant time form now.
Click Here to Sign Up Today for a 30% welcome Bonus
Their office is situated at 3rd floor, 5 Allen Avenue, Allen, Ikeja, Lagos state. They also have an office in Abuja. The address is 1st floor, suite 109, Obum place, plot 1140, No, 16 Adetokumbo crescents, Wuse 2 Abuja Nigeria.
Best Forex Broker in Nigeria – Wrap Up
Without any doubt, these 2 brokers are the overall best forex trading brokers in Nigeria. I am a living witness to how effective and efficient their services are.
The most important part of this post is that you are now clear on the difference between forex trading agents and real forex brokers.
Trading with any of the best forex brokers listed above means your money is safe and protected always. Above all, you have a place to visit them in case of any problem.
So feel free to go with any of the best forex broker above. Below is the link to their official website site from where you can register.
Hot Forex Registration Link …………………...Click Here
Fxtm Forex Registration Link………………………..Click Here