In order to trade successfully, it is very important to choose the right broker. in Nigeria, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best crypto brokers for beginners in Nigeria 2025. You can compare their features and trading conditions.
1
XM Group - Best for beginners in Nigeria
XM Group is a globally recognized broker, operational in nearly 190 countries and serving over 15 million traders. In 2025, the company is celebrating its 15th anniversary. The broker offers over 1,400 trading instruments, including Forex pairs, stocks, commodities, cryptocurrencies, and precious metals. With licenses from regulators like FSC and CySEC, XM ensures a secure trading environment.
The company is committed to high-speed order execution without requotes, ensuring 99.35% of trades are completed nearly instantly. The broker's leverage varies by region, offering up to 1:1000 for some non-EU countries while maintaining strict compliance with European standards for others. The spreads start from 0.6 pips.
XM doesn't offer passive investment options like PAMM accounts but provides access to MQL5 copy trading and a VPS for algorithmic trading.
👍 Advantages of trading with XM Group for traders from Nigeria:
•XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
•No “markup” on narrow market spreads (broker's margins over the spread);
•Over 1,000 trading instruments. Available for trading are: 57 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
•No commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
•Around the clock support for 5 days a week in more than 30 languages.
👎 Disadvantages of XM Group for traders from Nigeria:
•Expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.
2
Exness - Best for beginners in Nigeria
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 1 million active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
👍 Advantages of trading with Exness for traders from Nigeria:
•Availability of 8 licenses and a membership in the Financial Commission providing up to EUR 20,000 insurance coverage per client in the event of a force majeure;
•Wide choice of account types — Standard, Standard Cent, Pro, Zero and Raw Spread;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees (Depends on the payment system);
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders from Nigeria:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
3
MEXC - Best for beginners in Nigeria
The MEXC cryptocurrency exchange (MEXC.com) has been operating since 2018. The company is registered in Singapore, which is a loyal digital asset jurisdiction. The platform offers clients trading and P2P exchange services. The main specialization of the trading platform is to provide clients with crypto/crypto trading services with currencies such as Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT). The undoubted bright side of the platform is access to cryptocurrency ETF funds.
👍 Advantages of trading with MEXC for traders from Nigeria:
•120+ cryptocurrencies for trading;
•receive additional income through staking and holding;
•an affiliate program with income up to 80% of the deposit of the invited trader.
👎 Disadvantages of MEXC for traders from Nigeria:
•withdrawal fees (0.0005 BTC for Bitcoin);
•lack of support for fiat currencies for trading;
•no MAM or PAMM accounts;
•mandatory verification.
4
AvaTrade - Best for beginners in Nigeria
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 10 countries. It currently has over 300, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC, 406684), the Japanese FSA ( 1662), and the South African FSCA ( 45984). AvaTrade holds accreditation by the Central Irish Bank ( C53877 ), the Abu Dhabi Financial Services Regulatory Authority (190018), and the British Virgin Islands Financial Services Commission ( SIBA/L/13/1049), CySEC ( 347/17). AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 1,200 tools to customers.
👍 Advantages of trading with AvaTrade for traders from Nigeria:
•a wide range of trading instruments;
•there is a license for the provision of services on the territory of 5 continents;
•customer service operates around the clock and provides competent assistance to users in 14 languages;
•a wide choice of convenient trading platforms;
•ability to trade from mobile devices;
•availability of an account for representatives of Islam (swap-free);
•for reliable storage of customer funds, the broker uses a segregated account;
•option for automated trading using trading advisors, indicators, and other analysis tools;
•no restrictions on trade and scalping;
•availability of training materials and conducting webinars for beginners and experienced traders.
👎 Disadvantages of AvaTrade for traders from Nigeria:
•the site interface is not user-friendly;
•customer service efficiency and response time
•trading terminals are prone to occasionally freeze.
5
AMarkets - Best for beginners in Nigeria
AMarkets provides a wide range of trading instruments, including Forex, stocks, commodities, and cryptocurrencies.
With average execution speeds of 35-50ms and floating spreads from 0 pips on the ECN account, it implements a low-latency environment suitable for high-frequency and scalping strategies. Leverage up to 1:3000 is available across account types. Traders can utilize advanced analytical tools like AutoChartist, Trade Analyzer, Sentiment Indicator, and a large database of EAs. The broker’s copy trading platform allows investors to seamlessly copy successful trading strategies. While offshore regulated, the broker offers additional security through a compensation fund and independent third-party audits. AMarkets LTD is registered and licensed as an international brokerage and clearing company in the Island of Mwali (Comoros) with license number T2023284 and supervised by the Mwali International Services Authority (MlSA).
AMarkets provides a robust environment for those looking for advanced trading conditions.
👍 Advantages of trading with AMarkets for traders from Nigeria:
•Order execution speed is 35–50 ms (average market indicator is 200–500 ms);
•Average market spreads from 0.3 pips (average market indicator is from 0.5 pips);
•Newest passive investment platform – AMarkets Copy Trading;
•A set of analytical tools, including signals, risk management tools, and algorithmic trading, is integrated into the user account;
•Compensation fund of up to EUR 20,000 per each client.
👎 Disadvantages of AMarkets for traders from Nigeria:
•Expert advisors with basic settings are unprofitable. Launching templates without preliminary testing is strongly not advised.
•There is no information about how the rating of managers is formed and how much can the provided statistics be trusted;
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
XM Group Commissions and Fees
Traders Union analysts have analyzed the main and additional commissions for each XM Broker account. There are no additional commissions on all accounts.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Ultra Low |
From 6 USD |
No |
|
Zero |
From 0 USD |
No |
Exness Commissions and Fees
Exness charges only trading fees. These are spreads on Standard and Pro accounts and spreads + fees per lot on Raw Spread and Zero accounts. The company doesn’t withhold non-trading fees.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard Cent |
$0.3 |
No |
|
Standard |
$3 |
No |
|
Standard Plus |
$10 |
No |
|
Raw Spread |
$0 |
No |
|
Zero |
$0 |
No |
|
Pro |
$1 |
No |
MEXC Commissions and Fees
The experts at Traders Union analyzed the policy of commissions of the MEXC.com cryptocurrency exchange. The platform offers commission starting from 0.02%. There are also withdrawal fees on the platform. Deposits and withdrawals are carried out only using cryptocurrencies, and each type of digital asset has its own commissions and limits.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
0.02% |
Yes |
AvaTrade Commissions and Fees
The broker has been checked by our experts for the existence of explicit and hidden commissions, in particular a commission for trading volume and withdrawal of funds.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
From 0 to 20 US dollars, depending on the platform |
No |
AMarkets Commissions and Fees
Traders Union analysts have analyzed trading conditions and the offer of AMarkets to check for evident and hidden fees. There are no hidden fees and the deposit fee is not charged. The broker charges a withdrawal fee, which depends on the type of the transfer and the payment system. On average, the fee ranges from 0.5% to 0,5-1.8% and does not depend on the account type.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
from 13$ |
Yes |
|
Fixed |
from 30$ |
Yes |
|
ECN |
from 0$ |
Yes |
|
Zero |
from 0$ |
Yes |
Summary
Many brokers are available for traders from Nigeria, but not all of them offer good conditions. In this review, TU experts chose the Best crypto brokers for beginners in Nigeria 2025. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best Crypto Brokers For Beginners in Nigeria
| XM Group | Exness | MEXC | AvaTrade | AMarkets | |
|---|---|---|---|---|---|
|
Overall score |
9 |
8.7 |
9.1 |
7.06 |
7.77 |
|
Execution of orders |
9.35 |
9.6 |
8.5 |
8.5 |
8.4 |
|
Investment instruments |
9.2 |
10 |
5.25 |
10 |
5.3 |
|
Withdrawal speed |
7 |
7 |
8.45 |
5 |
8 |
|
Customer Support work |
8.7 |
9.29 |
7.25 |
7.9 |
8.07 |
|
Variety of instruments |
8.02 |
8.02 |
0 |
10 |
7.37 |
|
Trading platform |
8.9 |
7.21 |
6.98 |
6.8 |
6.44 |
|
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FAQ
What factors are important when you are choosing a broker?
When you are choosing a broker, it is important to make sure it is a reliable company, consider its fees, the list of trading instruments, deposit and withdrawal methods and other factors. It is important to study a broker in detail, before opening an account with it.
What are the risks of trading in the financial markets?
Any trading in the financial markets carries risks of losing your money due to asset volatility. Therefore, it is important to develop the rules of risk management in your strategy and strictly follow them.
Is it possible to work with offshore brokers?
It is best not to work with offshore brokers. However, if you have chosen such a company, you need to check and analyze it very thoroughly. There are offshore brokers with good reputations. Before you start working with such a company, deposit the minimum amount and start trading. Once you’ve worked with the broker for a little while and checked how it operates and how quickly it processes withdrawals, you can start depositing higher amounts.
What learning instruments can a broker offer?
Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.
Best Crypto Brokers For Beginners by Countries
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.