Best time to trade Forex in Nigeria

What are the 4 Forex sessions in Nigeria?

Nigeria is a West African country where African Standard Time is used. The standard time in Nigeria is GMT + 1, which is 6 hours ahead of New York time zone. Additionally, the Nigerian time zone is 10 hours behind Sydney time zone and has an 8-hour difference from Tokyo time zone. Lastly, the Nigerian and London time zones have a 1-hour difference between them.

The four Forex sessions in Nigeria are the, the Tokyo session, the Sydney session, and the London session. Since the standard time in Nigeria is different from the time in the session cities, the Forex session times are also different. The table below shows the timings of the.

Best Forex Brokers in Nigeria

1

9.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

$100

Deposit Bonus:

0%

Regulation:

ASIC, SCB, CySEC, FCA

Review

Eightcap is a leading Forex and CFD broker, offering over 800 trading instruments, including currency pairs, cryptocurrencies (not available with the FCA entity), indices, stocks, and commodities. With tight spreads starting from 0 pips, leverage up to 1:500, and no withdrawal fees, Eightcap provides a competitive trading environment. The broker is regulated by top-tier authorities such as ASIC and FCA, ensuring a secure trading experience.
Comprehensive educational resources, advanced analytics, and innovative functionality such as code-free automated trading and enhanced order execution with FlashTrader distinguish the platform from others.
Though Eightcap does not offer passive income opportunities or joint accounts, it is a popular choice for those seeking a reliable and feature-rich broker. Eightcap offers MetaTrader4 and MetaTrader5 integrated with Flash Trader. In addition, traders can use Acuity's AI-powered economic calendar.

Eightcap’s UK Entity:

Eightcap is an FCA authorised and regulated broker that offers CFD trading on over 600 markets across forex, indices, commodities, and shares. Eightcap’s UK entity is the only dedicated, specialist TradingView broker in the UK, providing a tailored product experience to get the most out of trading via TradingView.

Pros/Cons

•The broker is registered in the Bahamas and Seychelles, and is regulated by the Securities Commission of the Bahamas (SCB, SIA-F220), ASIC (391441), FCA (921296), CySEC (246/14). Also, it partners with many proprietary firms;

•Negative balance protection;

•Traders need to deposit only $100 to open a live account, and the broker imposes few trading limits on its clients;

•Hundreds of the most popular CFDs are available, and the pool is constantly expanding;

•Eightcap provides one of the most profitable trading costs with really tight spreads;

•Almost all options for depositing/withdrawing funds are available and the broker does not charge a withdrawal fee;

•The broker’s clients can work through any of the three top trading platforms, including mobile versions of the MetaTrader solutions;

•The company provides high-quality training, extensive analytics, and its own developments for automated trading.

•No joint accounts, copy trading, or other options for passive income.

Study Review

2

9.2/10

Go to broker

Your capital is at risk.

Minimum deposit:

from $5

Deposit Bonus:

50%

Regulation:

CySEC, FSC (Belize), DFSA, FSCA, FSA (Seychelles), FSC (Mauritius)

Review

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.

Pros/Cons

•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.

•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.

Study Review

Your location is United States

If you would like to learn about the best brokers in your region, please use the “Find my broker” service.

What is the best time to trade Forex in Nigeria?

The best time for Forex trading in Nigeria is during one of the four Forex sessions, which are in New York, Sydney, Tokyo, and London.

The best time to trade is from 7 a.m. to 4 p.m. in New York (4 p.m. to 11 p.m. local time). The best time to trade Forex in the Tokyo session is from 1 a.m. to 10 a.m. (12 p.m. to 9 p.m. local time). The best time for the Sydney session is from 8 a.m. to 5 p.m. ( 10 p.m. to 7 am local). Lastly, the best time to trade Forex in London starts from 7 a.m. and ends at 4 p.m. (8 a.m. to 5 p.m. local).

There is an available intraday time that is best for trading Forex in Nigeria: 10:15 a.m. to 2:30 p.m. This time is generally considered the best because the morning volatility tends to subside from 10:00 a.m. to 10:15 a.m. The research by the Traders Union shows that 52% of traders believe that the intraday approach is the best strategy for the best results, whereas 48% believe long-term plans are the best solution.

Best Forex pairs to trade in Nigeria

If you desire to trade Forex in Nigeria, you must be aware of the best Forex pairs to trade there. According to Traders Union research, the most popular Forex pairs among Nigerian Forex traders are EUR/USD and USD/JPY.

The research shows that 80% of Nigerian traders prefer these two Forex pairs, making them the best Forex pairs in Nigeria. However, there are other Forex pairs in Nigeria you can choose from. If you are a trader looking for less volatile pairs, GBP/USD and AUD/USD are best for you.

Trading Strategies Based on Sessions

As a Nigerian trader, it's important to consider strategies that work best with the different global Forex sessions throughout the day:

London Session

This busy session offers opportunities for short-term day trading and scalping strategies. Traders can look to enter and exit positions within 1-4 hours, taking advantage of volatility during this window.

New York Session

While also suitable for day trading, this session works well for swing trades held over 1-3 days. Trading the daily London/New York overlap from 8am-5pm also allows incorporating both sessions.

Tokyo Session

Given its evening hours in Nigeria, this session is better suited to position trading strategies held for 3-5 days. Trades can be initiated before price closes for the day in Tokyo.

Sydney Session

Due to its night/early morning Nigerian hours, it's difficult to actively trade this session. However, it provides opportunities to hold positions opened in prior sessions over the Asian trading day.

By focusing strategies around different sessions based on their local meeting times, traders can structure their day and trading plan around the global Forex market's daily cycles.