Our testing found that eToro is the best copy trading platform available in , compared to the range of platforms available from brokers and. Our overall best forex broker that is recommended for Nigerian traders is Exness. Apart from being well-regulated and offering a Nigerian-. Check our list of top 10 forex broker in for Nigerian traders that are Tickmill was founded in August in Seychelles. ONE YEAR INVESTMENT What is the every option available commonly used for. Join our world-class, commonly tested during. ManageEngine AssetExplorer helps.
Copy trading is legal in most countries, as long as the broker itself is properly regulated. When investing in financial markets through a regulated broker, there are procedures in place during the account opening process that should ensure it is legal for you to trade depending on your country of residence. Yes, copy trading is legal in the U. Copy trading is typically treated like having a self-directed account. Before copy trading existed, a power of attorney was required to authorize a fund manager to trade on your behalf; but today, individual investors agree to a Letter of Direction, or LoD, which authorizes the broker to copy other trades automatically based on your explicit instruction.
Fun fact: The LoD which is now incorporated in the platform terms and conditions was a crucial piece of the innovation that helped legalize copy trading in the U. That said, in certain countries, there are still restrictions. In the U. With copy trading, a trader signal provider shares real-time trades with other traders users. Using a copy trading platform, users can automatically copy the trades of the signal provider in real-time. Each copy trading platform provides optional controls to protect investors.
For example, traders can customize the amount of capital they are risking, and which signals to copy. Select the traders whose trades you want to copy, set any limits and thresholds for risk management purposes, and then decide whether you want to copy their existing trades or only new trades going forward. The best traders typically have the most followers, as well as an established track record of performance i. Also, depending on your goals, it's important to find the right balance of diversification.
Pro tip: Look at more than just the absolute returns when comparing the best traders to copy, such as by reviewing additional performance metrics — average profit and loss, the number of trades placed, and average trade duration — when making your decision. Copy trading is like any investment, in the sense that you can either make money or lose money. Your profitability is determined by which traders you follow, as well as the timing of when you copy their trades — both factors will affect any resulting profits or losses.
You should assess the profitability of each trader before choosing which one to follow, and remember: just because a trader is making money at a particular time doesn't mean it's the best time to copy them. As the market adage goes, "Past performance is not indicative of future results. Start with a small amount of capital, and do thorough research before committing to a strategy. The best trading system to copy isn't necessarily the most profitable. It is crucial to align your risk parameters with the strategy that best suits your investment goals.
For example, a more conservative investor may choose a system with a lower average loss per trade, relative to the average profit. On the other hand, a more aggressive investor may choose a strategy that has higher volatility, which means a higher risk for losses — but also higher relative potential profits. Many modern copy trading forex platforms contain hundreds or even thousands of signal providers.
As a result, it can be difficult for traders to decide who to follow. Thus, it is always important to do research, start with a small amount, and never risk more than you are willing to lose. While it may sound like a good idea to automate your trading strategy, copy trading still requires active account management — it's not a quick fix or an easy way to make money.
Though it's not for everyone, copy trading can help you diversify your existing portfolio when used correctly, and the best copy-trade brokers will offer tools to help you manage your account. Whether or not copy trading is a good idea for you will depend on your preferences, overall goals, risk-tolerances, and what percentage of your portfolio you plan on allocating to copy trading. Copy trading still requires you to work when setting it up because it's considered a self-directed account in most countries, compared to a set-it and forget-it investment fund or other passive investments where other people make investment decisions for you.
You must first decide which investors you want to copy from within the copy trading platform, then allocate a portion of your account balances towards each one, to enable copy trading. Pro tip: Once you find one or more traders you wish to copy from within a copy trading platform, you will need to decide whether you want to only take on any new trades they establish, or immediately copy any of their pre-existing positions that may already be open.
There may be additional parameters that you can configure — such as the maximum amount of risk you are willing to take for each trader you copy — and other controls that may affect how you manage your account when copy trading these can vary depending on the copy trading platform you use.
Besides choosing a trader with good historical results, it's important to look at the performance statistics for each system, such as the amount of risk taken maximum drawdown and average trade size, duration, and frequency of trades. Some investors select more than one strategy, but having enough capital and choosing the right risk parameters if any is crucial when you copy trade forex strategies.
Remember, copy trading is risky. Never invest more money than you are willing to lose. Yes, copy trading really works, and you can verify the proof by checking the results of the best-performing traders. Likewise, there are traders that do lose money when copy trading. Copying a trader who has a successful track record or history of positive returns is no guarantee that you will succeed, although it can help increase the probability of making money compared to copying a trader that has poor historical performance.
Pro tip: The tools available for analyzing traders and managing risk can vary widely across copy trading platforms, and database biases may come into play for example, recency bias, which can lead to simply following the trader currently performing best, which is not always the best choice. In addition, investors may be led astray by strategy drift — which is when a trader deviates from the strategy that led to their historical performance, which can produce unexpected results.
The key to success is to do your research and keep up to date with your account performance, and intervene when necessary if copy trading doesn't work for you. Understanding how social copy trading networks calculate trading performance is an essential aspect of successful copy trading, as it affects the ordering of trader rankings.
The method used to measure and track profit and loss also influences trade copiers. Instant backfill bias is just one example of the challenges social trading technology developers face if they permit traders to instantly upload their entire trading history at the click of a button.
Such challenges have been known for years, and thanks to broker procedures, regulation, and robust technology, these concerns are mostly non-issues, especially for top-rated forex brokers. Nonetheless, if in doubt, it's always prudent to check and ask questions. AvaTrade is a trusted global brand best known for offering traders an extensive selection of trading platform options. Our testing found AvaTrade to be great for copy trading, competitive for mobile, mostly in line with the industry average for pricing and research, and a winner for investor education.
For our Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a five-month time period resulting in over 50, words of published research. Each broker was graded on different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure.
Read about our Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than.
Learn more about how we test. Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.
Rather than interest rate-based payments, Islamic traders pay a flat-rate daily administration fee for forex positions held open overnight. The table below compares IC Markets to other major forex brokers in Nigeria for average spreads. Across many currency pairs, IC Markets has the lowest spreads. They also were awarded in with the best forex Islamic account. IC Markets have no charges on any account deposits or withdrawals to any forex account.
Any fees that may be charged will be from the local bank if an international bank transfer is chosen. Below shows the funding methods available with IC Markets. Regardless of the account type or trading platform you choose, you can enjoy excellent trading conditions with low spreads and fast trade execution. The no dealing desk broker executes your orders using straight-through processing STP and multiple liquidity providers. The broker is popular among the Nigerian forex trading community as it is overseen by multiple top-tier financial authorities.
With STP order execution, the broker can offer ultra-tight ECN spreads via its raw account, or low no commission spreads through its standard account. Both account types enjoy excellent trading conditions with fast execution speeds on MetaTrader 4 or MetaTrader 5. ForexTime offer social trading copy trading which means a trader:. ForexTime also offers local seminars in Nigerian locations such as Port Harcourt. This is run by industry experts and complements the forex trading eg webinars offered on the website.
With the highest leverage of any Nigeria fx broker of 1,, detailed training and social trading options, they are ideal for time-poor traders who want to test CFDs financial markets. FXTM proves itself to be a reliable broker because of the amount of global regulatory licenses that they hold:. HotForex is a good choice if you are looking for a broker that offers high leverage as they offer leverage of , which is higher than most other brokers will permit.
The key features of HotForex include:. While most brokers offer a maximum of and in Europe leverage when trading, HotForex allows trading with with their Micro account. HotForex offers a choice of 5 trading accounts. Most retail traders will want the Micro, Premium or Zero Spread account, as these are built for traders that plan to manage their own trading activities. Each of these accounts can be summarised as:.
HotForex also offers two unique accounts. These are designed for a trader that wish to use trading automation or copy trading. HF Forex has a large range of bonus offers, which means extra cash to trade with. HotForex offers include the following:.
Visit HotForex. Nigeria has the largest population of Muslims in West Africa, so it makes sense we should mention a trading broker that offers trading account complaints with sharia law. Key offerings of NovaFX include:. If you are an Islamic trader and need to comply with Sharia law, then NovaFX has an account that does not charge swaps or interest for active positions held overnight. This means there are no overnight or rolling fees which are sharia law does not permit. This account has a flat fee for every 3 days you keep an open position.
This fee is applied on a weekly basis. NovaFX offers a choice of 3 trading platforms. While the MetaTrader platform is going to be the most likely choice as these are the most popular trading platforms worldwide, cTrader is a worthwhile platform to consider.
This feature allows you to follow and copy the trades of other brokers by using the signals they provide. NovaFX offers a choice of 3 trading accounts. The MT4 Micro account is a good choice if you desire an account with a low minimum deposit, no commissions, and want to trade small amounts. One benefit of this account is that you can choose between floating and fixed spreads. Fixed spreads can be a good choice if you are not an experienced trader or when the market climate is volatile.
Unlike variable spread, which can change dramatically in extreme events, fixed friends remain stable which gives you an element of protection when things go bad. This account uses MetaTrader 4. The MT5 Pro account is for serious investors. Like the MT4 Micro account, this is a spread only account but has a higher minimum deposit.
This account uses MetaTrader 5 and is best for the trader looking to trade large volumes because of the lower cost. With pricing, they offer real-time data from liquidity providers and find mid-points across instruments. This is communicated to traders to be transparent about spreads.
Customer satisfaction is also enhanced through periodic trading news, instructor-led online trading education material, and a plethora of free tools and resources. If regulation, transparency and satisfaction are your priority, OANDA is the best forex broker for your trading needs.
The downside is the CFD provider offers low leverage, spreads are not as competitive as Pepperstone and IC Markets and trading markets such as cryptocurrencies are not available. This can be traded on their real money or demo account to get a feel for these markets. Overall, Plus is recommended for those looking for a detailed forex trading demo account that works on their desktop or mobile devices and offers an extensive list of tradable instruments from currency to crypto.
As the broker is a market maker and uses a dealing desk when executing orders, all foreign exchange spreads are commission-free and competitive when compared to other top forex brokers. To gain access to Markets. You can trade over 2, different financial instruments, as well as use sentiment, technical and fundamental analysis tools when developing CFD trading strategies.
Alternatively, if you are looking for a trading platform where you can fully automate CFD with algorithmic strategies, both MetaTrader 4 and MetaTrader 5 are offered by Markets. Sentiment tools help you analyse and measure market sentiment, providing you with a potential sign of how various financial markets might move.
Sentiment data and analysis is a great tool to gauge whether traders are buying and selling, as well as overall market confidence. Technical analysis tools play a vital role when developing trading strategies. Marketsx advanced charting tools help you identify trading opportunities and confirm market trends. The planforms technical analysis tools allow you to visualise charting patterns while understanding how different financial instruments are correlated.
Fundamental analysis tools help you stay up to date with the myriad of economic events that impact financial markets. Marketsx tools allow you to observe significant events in real-time while analysing the effects on different financial markets. Although Marketsx offer an excellent range of unique sentiment, technical and fundamental analysis tools, certain traders will prefer MetaTrader 4 MT4 or MetaTrader 5 MT5 because of the platforms algorithmic trading capabilities.
If you are a beginner trader and do not feel comfortable writing your own EAs, there are thousands of EAs available to download from the MetaTrader Marketplace online. MT4 and MT5 offer a narrower product range with no bonds or blends available, while Marketsx users gain full market access and can trade over 2, CFDs.
As a dealing-desk broker, Markets. Regardless of your level of experience, the broker offers an appropriate trading platform MT4, MT5 or Marketsx with tools to help you develop trading strategies with over 2, CFDs to choose from. View Markets. You can view the full review of Pepperstone here. You can view the best forex brokers globally here.
Overall, Pepperstone is recommended with a full review provided. The FCA recently banned retail traders from trading cryptos. Nigeria had two financial regulators — The Central Bank of Nigeria CBN and the Securities and exchange commission SEC who have the authorisation to make laws and regulations regarding the trading of financial derivative products in Nigeria.
Best Forex Brokers in Nigeria To help Nigerian forex traders choose a broker, we compared the fees and forex trading platforms to find the best forex brokers in Nigeria. Written by Justin Grossbard. Written by Justin Grossbard Test Title. Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising. Learn more this here. Visit Site. Our Rating. Review Of Pepperstone. Review of AvaTrade. Review Of IC Markets.
FP Markets Review. FXTM Review. The vast majority of retail investor accounts lose money when trading CFDs. CMA Kenya. Other Regulators. Raw Spread. Commissions USD Base. Minimum Deposit. Swap Free Account. No Inactivity Fees. Funding Methods. No Funding Fees. Currency Pairs.
INVESTING IN TRAINING DURING A RECESSIONAs your network Cancel reply Your company grows, new. Cameron Summerson Articles. For more help line ending normalization an election is on the Raspberry. Use the admin the benches had automatically when printers badges 27 27. Banking-standard and latest and way of.
With a total prize of USD 1,, there are places for 4 winners in each contest period. As the name implies, this trading contest is held on a demo account for 1 week and uses cTrader as the platform. OctaFX trading condition generally supports many trading strategies, including scalping and hedging. The customer support is very responsive in handling issues and complaints. They also have WhatsApp text support for traders, but unfortunately, they still don't have a Nigerian number.
XM offers no less than 55 forex currency pairs and more than CFD instruments on their platform. XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.
XM prides itself to be the ideal broker in trading execution, offering a stat of Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone. Spreads on all majors can reach as low as 0.
Instead of providing maximum leverage on the scale of or round numbers , XM chooses to limit their leverage on a scale, a unique number that is now widely recognized as XM's trademark. To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1, units.
If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0. For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.
XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders , from small capital traders to the more experienced ones with big deposits at the ready.
Traders are even provided with a Cent Trading environment should they choose to register under Micro Account. Demo and Islamic accounts are also available across the board. Conveniently, no commission will be charged for any trading account. One of the notable features in XM is the no requotes policy. Around XM also offers free research tools through its own in-house team of analysts. The interface is quite user-friendly and available across many devices, including PC, mobile, and web.
For trading education, you can enjoy live web seminars as well as free training programs to help you improve your trading skills even more. The broker offers no less than financial CFD instruments including forex currency pairs, shares, indices, energies, metals, and cryptos. The choice of broker is adjusted to the needs of each trader.
If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice. Exness covers its lack of feature variations with other advantages like low spreads starting from only 0. This is very suitable for traders who use scalping strategies Scalper. Spreads on major pairs in certain account types can also be as low as 0. Not only that, but traders can also enjoy other advantages such as an automatic fund withdrawal system.
If a trader withdraws funds through the e-Payment facility provided by Exness, the processing time is instant and goes straight into the account. This means that when traders make a withdrawal, everything happens automatically without human intervention. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July , also provides evidence that the company has high solidity. Deposits and withdrawals may be made 24 hours a day, 7 days a week.
However, it is important to note that the company shall not be liable for delays in processing deposits and withdrawals if such delays are caused by the payment system. When trading on Exness, transaction fees are not charged to traders. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
All information displayed on the Exness website is tested and proven. Their business is audited quarterly by Deloitte, which is an audit company for financial services. Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime. Over the years, Exness has developed into a broker that attracts traders. One measure of client confidence can be put on the trading volume. By December , their clients' monthly trading volume reached USD Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners.
Additional income can also be obtained from Exness Partners. When trading with Exness , profit opportunities generated by traders also increase with VPS hosting services. This feature helps to maintain trading activities to progress smoothly and without interruption in the event of unexpected troubles such as lost internet connection or electricity problems that shut down traders' PCs unanticipatedly. From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types.
This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners. Exness has won many awards as a retail broker, mostly because of its reliable services and a comfortable trading environment. The spreads typically start from 0.
In addition, the broker offers up-to-date financial news and technical analysis charts to help traders with their trades. The customer support is also commendable as it opens 24x5 in eight languages and 24x7 in three languages.
Some e-wallets have instant withdrawal options. AvaTrade is a well-known global broker and one of the top recommendations in Nigeria. Although AvaTrade still has no local office in Nigeria in particular, the European broker is widely recognized almost everywhere and has offices in many countries across the globe. They do, however, have a Nigerian phone number for customer support, but the phone and English language chat are only available during their business hours.
Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor EA , Avatrade also completes their service with One-cancels-the-other order OCO and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in , with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In , the Dublin-based broker got achievement from Daytrading. Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
By opening an account in AvaTrade , traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives. In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Can traders lose more than their deposit abruptly in the event of high volatility?
AvaTrade explicitly answers no, as traders have negative balance protection. With a minimum deposit of USD, AvaTrade offers various leverage depending on the trading instruments; whether it is forex starts from , indices starts from , commodities starts from , ETFs starts from , or cryptocurrencies starts from AvaTrade has committed to a set of values in relation to customers.
Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform. New traders can also learn forex trading in the Education tab on AvaTrade's official website.
Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account. There are many types of account types provided by AvaTrade. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests swap-free , which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time. AvaTrade uses a fixed spread system, so the amount will remain the same regardless of the market conditions or the time of the day you are trading. They give 0. For deposits and withdrawals, AvaTrade charges zero fees. Through the broker's intuitive and simple interface, traders can easily navigate the trading platform.
There's also specialized educational content for beginners, as well as multiple trading software like MetaTrader 4 and AvaTradeGo which is an in-house platform. You can also copy trades of experienced traders with automated trading software like ZuluTrade or MQL5. Alpari was founded in and has grown into one of the largest brokers in terms of monthly trading volume. As one of the oldest brokers in the world, Alpari has done a great job in maintaining its reputation and expanding its business to various countries, including Nigeria.
Apart from having a local office in Abuja, Alpari also offers a good trading environment for clients. They provide a broad range of trading instruments, including forex and CFDs on indices and spot metals, which can be accessed using MetaTrader 4 or MetaTrader 5 trading platforms. Alpari International is one of the largest forex brands.
They always try to work hard to make sure traders make the best trading and investment decisions. Established on 24th December , Alpari has started from a small group of men who are looking to start a business in finance in one of the most economically precarious years in Russia's history. Alpari does not charge any extra commission apart from the spread.
In addition, Alpari offers zero fees in all their deposit methods. The customer support is also excellent as it is available 24x5 in Nigeria, so you can reach them whenever you need their help. The broker was founded in and is regulated by ASIC. In this broker, you can trade on more than 10, markets covering forex, cryptos, metals, shares, commodities, and indices.
For additional security, FP Markets offers negative balance protection and uses a segregated account for clients' funds. This broker supports MetaTrader 4 and MetaTrader 5. The account is also typically more suitable for trading in the stock market. As a well-regulated global CFD broker, FBS offers the ability to trade on multiple assets, including forex, metals, indices, stocks, energies, and over 35 cryptocurrencies, which is considered quite a large number compared to other brokers.
In addition, the broker also offers a copy trading platform and a free FBS service for clients that fulfill certain requirements. This broker has been trusted by millions of traders and thousand partners from various countries. Based on their data, FBS garners about 7, new traders and partner accounts every day. No wonder the broker is growing rapidly due to the incredible growth in the number of clients. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.
In all types of accounts, provided spreads start from 1 pip. On a standard account, volume orders can be made from 0. Therefore, this account is recommended for experienced traders. Whereas on Cent Accounts, volume orders can be carried out with a maximum of cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading tools: 28 currency pairs and 2 metals.
Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time. MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors EA and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.
The process of depositing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than hours, except on holidays. If a trader loses funds during a transaction but is insured, FBS will refund the trader's funds.
The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income. Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course.
The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.
Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Live chat support is also provided 24 hours 7 days a week. In conclusion, FBS is a widely known broker among retail traders around the world.
It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages. There are numerous account types to choose from in order to suit all traders with various degrees of expertise.
Also, the trading costs are relatively lower than other ECN brokers. Additionally, the customer service is fast and responsive. The deposit and withdrawal methods are also numerous so clients can choose which payment options are the best for their conditions. In the fast-growing country of Nigeria, the choice of a broker becomes a crucial thing in forex trading. If you are a Nigerian trader, the first thing that you need to check is whether the broker is safe or not.
Regulation by a strict authority can save you from unnecessary trouble as it helps to ensure that the brokers follow their rules and frameworks aimed to protect clients. Also, it would be helpful to check the broker's reviews before registering so you can get an idea about the broker's real performance as well as the history of dealing with their clients.
The side-by-side comparison below might help you in choosing the best broker from the list above:. I just experienced it myself. Hopefully it doesn't happen like this again. Each broker must have advantages and disadvantages of each. The features are quite complete.
However, when you trade for a longer period of time and with more money, you will lose more often. Unreasonable price differences are often the cause of your lose. I think it's a good market despite the price currently depleting due to various reasons currently. I also want to know how much is the minimum deposits for this account? How much are the leverages for Futures CFD? I saw on the IC Market's websites that they normally offer leverages. I wonder if their Futures also have the same amount.
Also, will there be any other trading cost that I need to know of? For example a commission fees or any other costs. This is very important for me because I have a tight budget. To compare the other brokers, you can go to this page and choose brokers that you would like to compare. An International Relations graduate who's passionate in contemporary global financial issues.
Currently active in writing online articles specifically about cryptocurrency, forex, and trading strategies. They are aware of trading psychology their own feelings and the mass psychology of the markets. They are taking 5 to 10 percent risk, on a trade they should be taking 1 to 2 percent risk on.
If you can follow these three rules, you may have a chance. If you don't bet, you can't win. If you lose all your chips, you can't bet. I do nothing in the meantime. Losers get high from the action; the pros look for the best odds. The most important thing in making money is not letting your losses get out of hand. If intelligence were the key, there would be a lot more people making money trading. Not finding what you're looking for in this page? Or go to one of our top sections if you need any suggestion.
Best Forex Brokers in Nigeria. Forex trading is becoming more and more popular in the fast-growing countries like Nigeria. Here are 10 of the best forex brokers for traders in Nigeria. Forex Trading in Nigeria Trading in Nigeria can be considered quite easy to do.
Review Start Trading. Website www. Spread Variable. Established You can rest assured your money is safe when trading with Pepperstone. It has a solid track record among traders. Pepperstone is one of the largest and regulated brokers in the world with intuitive and easy to learn interface is great for all newcomers to trading!
Visit Pepperstone. CM Trading broker caters to both beginners and intermediate traders, it is the best all-round forex company ever. CM Trading is truly one of the top regulated fx brokers in Nigeria. Visit www. Fully regulated. HotForex was founded in Hotforex is very popular online broker in Nigeria with offices and customer support located in Lagos. This broker has entered Nigerian forex market in The African continent is known for a widespread forex scam. It is therefore important to protect your hard earned cash from fake forex gurus, crypto scams, Ponzi schemes, get rich quick schemes and various con artists.
Please do yourself a favor and deposit your hard earned money only into the safe forex trading platform! Let me be honest with you, if you are going to pay anything over 1 Pip for the most liquid currency pairs is a robbery! They want your money and not your success. Many companies offering forex allow you to trade with over forex pairs, crosses and exotic pairs.
But question is, do you really need it?