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 day trading in Nigeria 2025. You can compare their features and trading conditions.
1
XM Group - Best for day trading 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 day trading 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 day trading 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
WForex - Best for day trading in Nigeria
WForex is a broker operating on the market for 12 years. The company carries on its activity in 50 countries in the world. It is a member of the Financial Commission for Dispute Resolution in the field of financial services in the international exchange market. World Forex coops with front developers, introducing modern tools that provide traders with safe and uninterrupted trading. The company is admitted as the best Forex digital contract broker.
👍 Advantages of trading with WForex for traders from Nigeria:
•bonus 100% for replenishment;
•commissions compensation when depositing;
•low barrier for entry — you can deposit $1;
•Safe-box account — high interests for trader's funds, free-and-easy converting and cash transferring between your trade accounts according to official bank rates;
•making transactions with ECN/STP technologies avoid a conflict of interest between the broker and the trader;
•auto trading is available;
•wide range of replenishment and withdrawal systems;
•own developed course "Forex Guide for the trader";
•the ability to trade digital contracts provides a potential profit of 100%.
👎 Disadvantages of WForex for traders from Nigeria:
•no search box on the website;
•there is no forum for communication between traders, but you can use the Traders Union forum, where traders from all over the world communicate;
•the support service may take several hours to respond
•the training section can be amended with video courses and training articles.
5
Libertex - Best for day trading in Nigeria
Libertex is an online broker that provides access to trading CFDs on stocks, commodities, cryptocurrencies, and more. The company has been in the market for over 10 years. One of the advantages and distinctive features of the broker is its proprietary web trading platform with non-standard functionality designed for novice traders. It features a user-friendly interface, high information content, and advanced technical functionality.
👍 Advantages of trading with Libertex for traders from Nigeria:
•fast registration process;
•usability of the platform. It has a user-friendly interface for trading online on a PC or laptop as well as other devices;
•more than 300+ CFDs on stocks, precious metals, oil and gas, indices, cryptocurrencies - almost all popular trading underlying assets in one platform;
•tight spreads;
•investment account providing for investing in real stocks without commission fees.
👎 Disadvantages of Libertex for traders from Nigeria:
•Libertex accounts have fees subject to the underlying asset. For example, a 0.0005% fee is charged on Forex CFD.
•No proprietary technological solutions for passive investing.
•Libertex is available only in the web version and mobile app which doesn’t allow adding custom indicators and advisors. Algorithmic trading is not available.
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 |
$1 |
No |
MEXC Commissions and Fees
The experts at Traders Union analyzed the policy of commissions of the MEXC.com cryptocurrency exchange. The platform offers commission starting from 0.02%. There are also withdrawal fees on the platform. Deposits and withdrawals are carried out only using cryptocurrencies, and each type of digital asset has its own commissions and limits.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
0.02% |
Yes |
WForex Commissions and Fees
Traders Union analysts examined the conditions offered by the World Forex broker to identify hidden trading and non-trading commissions. A spread was chosen as the basis for assessing the trading commission, and a withdrawal fee was analyzed to determine the non-trading commission. The replenishment fee is absent in all accounts.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
W-Cent |
From 1.8$ |
Yes |
|
W-Profi |
From 18$ |
Yes |
|
W-Instant |
From 20$ |
Yes |
|
W-ECN |
From 2$ |
Yes |
Libertex Commissions and Fees
TU experts have analyzed Libertex trading conditions. The broker's fee policy is flexible, that is spreads are charged on all account types, and fees in the form of percentage of the trade amount are charged on some account types.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Libertex Real |
From 0.1% |
Yes (PayPal or Skrill – No) |
|
МТ4, МТ5 Market |
From 0.1% |
Yes (PayPal or Skrill – No) |
|
МТ5 Instant |
From 0.1% |
Yes (PayPal or Skrill – No) |
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 day trading 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 Day Trading in Nigeria
| XM Group | Exness | MEXC | WForex | Libertex | |
|---|---|---|---|---|---|
|
Overall score |
9 |
8.7 |
9.1 |
7.05 |
7.16 |
|
Execution of orders |
9.35 |
9.6 |
8.5 |
7.25 |
6.1 |
|
Investment instruments |
9.2 |
10 |
5.25 |
4.7 |
2.5 |
|
Withdrawal speed |
7 |
7 |
8.45 |
4 |
6 |
|
Customer Support work |
8.7 |
9.29 |
7.25 |
8.31 |
9.24 |
|
Variety of instruments |
8.02 |
8.02 |
0 |
8.75 |
6.37 |
|
Trading platform |
8.9 |
7.21 |
6.98 |
5.53 |
6.16 |
|
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FAQ
Why is a license important for a broker?
License is the key document testifying to the broker’s reliability. It means that the company complies with the requirements of the financial regulatory authority that issued it. It is recommended that you choose brokers with licenses from top financial regulators: the USA, European Union, the UK, as these jurisdictions have the strictest licensing requirements.
Does the choice of a beginner differ from the choice of an experienced trader?
Yes. A novice trader should primarily consider the availability of educational tools and a demo account, as well as basic assets. A more experienced trader is interested in wider opportunities on advanced account types, a wider choice of instruments for technical analysis, and a greater number of trading instruments.
Can you earn passive income in the financial markets?
Yes, the best brokers in Nigeria offer passive income options. These could include copy trading, PAMM accounts, managed portfolios, etc.
What commissions and fees should I take into consideration when I am choosing a broker?
The commissions and fees in the financial markets are divided into trading and non-tradings ones. Trading fees are the fees that are charged directly during trading (spread, commission per lot, etc.), while non-trading fees are the ones charged outside the trading process (for example, account fee, inactivity fee, deposit and withdrawal fee).
Best Crypto Brokers For Day Trading 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.