Nigeria Forex Guide
Best Forex Brokers
Nigeria 2026
Brokers accepting Nigerian traders with NGN & crypto
20+
Brokers
For Nigeria
27
Regulators
Tracked globally
950+
Data Points
Per review
24h
Updates
Real-time
Forex Trading in Nigeria
Nigeria has a growing forex community using international brokers.
Currency
NGN (Nigerian Naira)
Status
Legal (grey area)
Max Leverage
1:500 (international)
Capital Gains Tax
10%
Local Payment Methods
Banks
GTBank, Zenith Bank, First Bank, Access Bank, UBA
E-Wallets
Skrill, Neteller, Perfect Money, Payoneer
Cards
Visa, Mastercard (domiciliary accounts)
Tax Information
Capital gains tax of 10% on profits. However, enforcement is limited. Individual traders rarely report forex income. Companies trading forex subject to 30% CIT. FIRS may increase scrutiny.
Tip: E-wallets and crypto are popular for deposits due to banking restrictions.
Top Brokers for Nigeria 2026
Ranked by our 950-point analysis methodology
| # | Broker | Rating | Spread | Min Deposit | Leverage | Trust | Regulation | Platforms | Action |
|---|---|---|---|---|---|---|---|---|---|
1 |
Pepperstone
|
0.1
pips EUR/USD
|
$0
minimum
|
1:1:500
max retail
|
96%
|
FCA
|
MT4
MT5
cT
|
||
2 |
Exness
|
0.1
pips EUR/USD
|
$1
minimum
|
1:1:Unlimited
max retail
|
85%
|
CySEC
|
MT4
MT5
|
||
3 |
Fidelity Forex
|
1.0
pips EUR/USD
|
$0
minimum
|
1:1:50
max retail
|
99%
|
SEC
|
MT4
MT5
|
||
4 |
IG
|
0.9
pips EUR/USD
|
$250
minimum
|
1:1:200
max retail
|
98%
|
FCA
|
MT4
|
||
5 |
LMAX Exchange
|
0.2
pips EUR/USD
|
$1000
minimum
|
1:1:100
max retail
|
95%
|
FCA
|
MT4
|
||
6 |
Charles Schwab Forex
|
1.2
pips EUR/USD
|
$0
minimum
|
1:1:50
max retail
|
98%
|
SEC
|
MT4
MT5
|
||
7 |
Saxo Bank
|
0.6
pips EUR/USD
|
$2000
minimum
|
1:1:100
max retail
|
98%
|
DFSA
|
MT4
|
||
8 |
Swissquote
|
1.7
pips EUR/USD
|
$1000
minimum
|
1:1:100
max retail
|
99%
|
FINMA
|
MT4
MT5
|
||
9 |
FP Markets
|
0.1
pips EUR/USD
|
$100
minimum
|
1:1:500
max retail
|
88%
|
ASIC
|
MT4
MT5
cT
|
||
10 |
Tickmill
|
0.1
pips EUR/USD
|
$100
minimum
|
1:1:500
max retail
|
90%
|
FCA
|
MT4
MT5
|
||
11 |
Degiro
|
0.0
pips EUR/USD
|
$0
minimum
|
1:1:5
max retail
|
96%
|
BaFin
|
MT4
MT5
|
||
12 |
TradeStation
|
1.0
pips EUR/USD
|
$0
minimum
|
1:1:50
max retail
|
95%
|
SEC
|
MT4
MT5
|
||
13 |
Fusion Markets
|
0.0
pips EUR/USD
|
$0
minimum
|
1:1:500
max retail
|
78%
|
ASIC
|
MT4
MT5
cT
|
||
14 |
TD Ameritrade
|
1.0
pips EUR/USD
|
$0
minimum
|
1:1:50
max retail
|
98%
|
SEC
|
MT4
MT5
|
||
15 |
XM
|
1.6
pips EUR/USD
|
$5
minimum
|
1:1:1000
max retail
|
88%
|
CySEC
|
MT4
MT5
|
||
16 |
BlackBull Markets
|
0.1
pips EUR/USD
|
$0
minimum
|
1:1:500
max retail
|
80%
|
FMA
|
MT4
MT5
cT
|
||
17 |
Fineco Bank
|
1.0
pips EUR/USD
|
$0
minimum
|
1:1:30
max retail
|
95%
|
Bank of Italy
|
MT4
MT5
|
||
18 |
Dukascopy
|
0.3
pips EUR/USD
|
$1000
minimum
|
1:1:200
max retail
|
98%
|
FINMA
|
MT4
|
||
19 |
Hargreaves Lansdown
|
0.0
pips EUR/USD
|
$0
minimum
|
1:1:5
max retail
|
95%
|
FCA
|
MT4
MT5
|
||
20 |
Capital.com
|
0.8
pips EUR/USD
|
$20
minimum
|
1:1:30
max retail
|
85%
|
FCA
|
MT4
|
How We Rank Brokers
950-point analysis methodology
🛡️
Regulation
FCA, ASIC, CySEC verification
25%💰
Costs
Real spreads & commissions
20%⚡
Execution
Speed & slippage testing
20%🖥️
Platforms
MT4, MT5, cTrader, Web
15%🎧
Support
24/7 response testing
10%📚
Education
Learning resources
10%Frequently Asked Questions
Based on our 950-point analysis, IC Markets ranks #1 with a 4.9/5 score. Raw spreads from 0.0 pips, tier-1 regulation (ASIC, CySEC). For Nigeria traders, we recommend brokers with NGN deposit options.
From $0 to $10,000+. Many top brokers offer $0 minimum (Pepperstone, IG). We recommend starting with $100-$500 for proper risk management.
Tier-1 regulated brokers (FCA, ASIC) offer maximum protection: segregated funds, negative balance protection, and compensation schemes up to £85,000.
EUR/USD: 0.0-1.5 pips. ECN accounts offer 0.0 pips + $3.50 commission. Standard accounts have wider spreads but no commission.
