Best Apps for Forex Trading in Nigeria

Go to broker’s website Plus500 Overview

If you're too busy to read the entire article and want a quick answer, the best trading app in Nigeria is Plus500. Why? Here are its key advantages:

• Is legit in your country (Identified as United States )
• Has a good user satisfaction score 6.83 out of 10
• Enhanced security measures ensure safe transactions
• Offers low commission rates

Go to broker’s website Plus500 Overview

Below, we'll explain in more detail why we believe this and how brokers were evaluated.

Choosing the right trading app is crucial for success in Nigeria. The Nigerian market, regulated by the Securities and Exchange Commission (SEC), provides a secure environment for traders. In this article, we’ve examined the top five trading apps that are regulated and available to Nigerian clients.

We’ve considered the factors that matter most: the specific conditions tailored for Nigerian residents, the fees and commissions, the user experience of each app, and the variety of trading tools they offer. Whether you’re a beginner or an experienced trader, these apps provide the resources and support you need to navigate the market effectively.

Best Forex Trading Apps in Nigeria Comparison 2025

How Do the Best Trading Apps in Nigeria Compare on Fees?

In this section, we compare the fees of the leading trading apps in Nigeria based on several key criteria. We examine the floating spread for EUR/USD on standard accounts, both minimum and maximum pips, as well as the ECN commission and spread for EUR/USD. Additionally, we consider withdrawal and deposit fees, along with any inactivity fees.

How Do the Best Trading Platforms in Nigeria Compare?

We have compared all available trading and mobile platforms from leading brokers, as well as useful additional features such as charting in TradingView.

How Do the Best Trading Platforms in Nigeria Compare on Supported Assets?

Reviews of Top 8 Trading Apps 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

3

9.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

$10

Deposit Bonus:

60%

Regulation:

FSC

Review

RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.

Pros/Cons

•Availability of favorable trading conditions and a minimum deposit

•Unique investment program CopyFx

•Highest affiliate payments: up to 84% of the fee paid by the referral

•Market launch - STP and ECN

•Instant withdrawal of funds

•Minimum deposit - $10

•A small number of currency pairs - 28, for accounts: Pro, Pro-Cent, ECN

Study Review

4

8.9/10

Go to broker

Your capital is at risk.
Your capital is at risk.

Minimum deposit:

$10

Deposit Bonus:

0%

Regulation:

FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, CBCS, CMA

Review

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.

Pros/Cons

•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.

•The broker’s website offers almost no educational materials;

•24/7 support isn’t available in all languages.

Study Review

5

8.7/10

Go to broker

Your capital is at risk.

Minimum deposit:

$50-500

Deposit Bonus:

0%

Regulation:

ASIC, FSCA, FSC Mauritius

Review

VT Markets, established in 2015, is a globally authorized broker that offers traders access to a diverse portfolio of financial assets, including forex, indices, energy, precious metals, soft commodities, and ETF-based CFDs. The broker provides affordable prices and a choice of account options to accommodate a wide range of trading needs

Pros/Cons

•Financially stable parent company and reliable custodian bank.

•Over 230 assets of different classes are available for trading.

•It allows trading using STP, ECN, and Islamic accounts.

•A wide range of investment solutions from reputable third-party platforms.

•Margin trading with leverage up to 1:500 for cryptocurrency pairs.

•Average trading commissions on ECN and precise market spreads on all account types.

•Access to making trades in desktop and mobile terminals MetaTrader 4/5, as well as in the web version of MT4.

•The high minimum deposit for novice traders is $50.

•Lack of access to micro (cent) accounts.

•The list of available assets does not include cryptocurrencies and ETFs.

Study Review

6

8.6/10

Go to broker

Your capital is at risk.

Minimum deposit:

$10

Deposit Bonus:

100%

Regulation:

SVGFSA

Review

TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:1000) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.

Pros/Cons

•detailed analytical section;

•informative training section;

•Invest Start risk-free investment service;

•interest accrual on deposit;

•copytrading service;

•several affiliate programs with high payouts.

•no PAMM accounts or other money management options;

•few withdrawal options;

•support is available 24/5;

•withdrawals delayed;

•technical support responds slowly;

•sometimes it takes a long time to verify data.

Study Review

7

8.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

$5

Deposit Bonus:

50%

Regulation:

MISA

Review

PO TRADE BROKER caters to both Forex and binary options traders, offering a wide range of trading instruments, a copy trading service, and passive income opportunities.
Clients can trade CFDs on currencies, cryptocurrencies, stocks, indices, and commodities with spreads starting from 1.2 pips and no additional commissions per lot. Pocket Option's unique "My Safe" service offers up to 10% annual interest on unused account balances.
While the platform excels in serving active traders, its demo accounts and referral program also offer value to beginners. However, the lack of cent accounts and ECN options could be a drawback for certain professional traders.

Pros/Cons

•MetaTrader provides for trading binary options and CFDs;

•A demo mode is available for all account types;

•Active, social, and algorithmic trading is available on MT4 and MT5 accounts;

•Spreads are from 1.2 pips for Forex and no fees per lot;

•Referral program for retail clients with rewards of up to 50%-80% of the referee’s income;

•“My Safe” service that provides for crediting 10% per annum on the account balance not involved in trading;

•Cash back and promo codes for binary option traders;

•50% deposit bonus.

•Real-time communication with operators is available upon funding the account.

Study Review

8

8.3/10

Go to broker

Your capital is at risk.
Your capital is at risk.

Minimum deposit:

No

Deposit Bonus:

0%

Regulation:

VARA, AFSA, NBG, MiCAR

Review

Bybit is one of the world’s largest cryptocurrency exchanges. In 2024, it expanded into Forex trading through the MetaTrader 5 (MT5) platform. Users can trade over 100 contracts, including currency pairs, metals, oil, indices, and other commodities. Trading is offered with fixed leverage of up to 1:500 and commissions ranging from $3 to $6 per lot. The platform supports both hedging strategies and Expert Advisors (EAs). Bybit is regulated by the Astana Financial Services Authority (AFSA) in Kazakhstan, holds a preliminary license from the Virtual Assets Regulatory Authority (VARA) in Dubai and secures MiCAR license from Austria’s Financial Market Authority (FMA).

Pros/Cons

•Access to Forex and CFDs without the need for third-party broker verification;

•Support for trading via mobile and desktop MT5 versions;

•Leverage up to 1:500 on most contracts;

•Transparent commission and spread calculation system;

•ECN model with ultra-tight spreads and fixed lot-based commissions;

•No minimum deposit requirements;

•Free demo account for virtual trading.

•No multi-currency accounts;

•Limited passive income options in the Forex market.

Study Review

Your location is United States

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Rules and Regulation

Licensing in Nigeria

Nigeria's regulation of Forex falls under the purview of the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN):

• Forex trading itself is legal for Nigerian residents.
• Unlike Malaysia, Nigeria doesn't have a central body solely dedicated to Forex regulation.
• There's some debate on the involvement of regulatory bodies like the Securities and Exchange Commission (SEC) or the Central Bank of Nigeria (CBN) in overseeing Forex brokers.
• Requirements and process for obtaining a Forex broker license in Nigeria are unclear. Information about "ready-made licenses" you might find online should be approached with caution.

Investor protection in Nigeria

Investors in Nigeria are protected by the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN). Forex investor protection is a complex issue due to the absence of a well-defined regulatory framework.

Taxation in Nigeria

Forex traders are required to report their trading income to FIRS (The Federal Inland Revenue Service) and pay income tax on their profits at the applicable tax rates. Nigeria operates a progressive income tax system, with tax rates ranging from 7% to 24% for individuals, depending on their total taxable income.

What to Look For in a Trading App

Responsiveness

Due to the volatility of the forex market, your preferred broker needs to be responsive. This is because if a trader has placed a trade and a high volatility event occurs, causing a gap, this could make the trade execute at a worse value and result in losses for the trader.

Reliability

Depending on the platform you prefer, whether the desktop or mobile application, reliability is an important factor to consider when choosing a broker. As a trader, if your broker's app crashes or freezes, especially in times of global economic events, your trades and productivity will be affected.

User-friendly Interface

The difference between a profit and loss when trading can sometimes be in seconds, and a user-friendly broker will ensure you place or close a trade immediately. Also, it is necessary for the overall navigation of the platform; even with additional charts and tools, you should be able to use the app conveniently.

Analysis Tools

The difference between professional traders sometimes lies in their ability to analyze trades after being executed. This is how you can improve your skill and possibly learn from previous trades, and some tools can help make it easier. When choosing a broker, you should ensure the analysis tools of your preferred broker are in line with industry standards.

Automatic Trading

Some platforms offer suggestions on trades to place, and sometimes they come as algorithms. If these algorithms help you profit more, you should consider allowing the software to make investments for you at the amount you specify.

Security of Data

Trading involves money, and the most important factor to consider is the security of your funds and personal information. Therefore, when choosing a platform, you should ensure it has one of the best security protocols.

Asset Offerings

Choose an app that provides a broad range of asset classes and financial instruments.

Make sure it offers the specific assets you are interested in trading.

Customer Support

Reliable customer support is essential for resolving any issues that may arise.

Look for apps with multiple channels of customer support, like chat, email, or phone support.

Mobile Accessibility

A mobile-friendly app allows you to trade on the go. Ensure the app is available on your device and has good reviews regarding its mobile functionality.

How to Choose a Forex Broker’s App in Nigeria?

Learn regulation and reliability

Before you settle on a forex broker, you should ensure you fully assess and learn the regulation behind every broker. Ensuring that the broker you pick is regulated and allowed to operate in Nigeria is necessary. Also, you have to ensure that the broker is reliable by real traders.

Look at offers for local clients

Every broker has a different offer, and the best broker for you as a trader in Nigeria is the one who offers the best services, tools, and other resources to local clients. Your broker needs to accommodate your needs as a Nigerian.

Explore App’s Functionality

Another factor to consider when choosing a broker in Nigeria is to explore the broker app's functionality. This can be done by assessing its execution speed, trading assets, and analytical tools. You will be fully abreast of the broker's features and have a smooth trading experience by checking all these boxes.

Try Demo

You should check to ensure they have a demo account for practice when selecting a broker. Every trader needs to practice to minimize risks, and with a demo account, you can practice as much as you want.

Open an account

The last step after filtering the brokers is to open an account with your broker of choice. You need to check the type of accounts available and those that suit you and your needs.

Best Forex Trading Apps For Beginners in Nigeria

As a beginner trader, the best broker apps for you are the ones that offer copy trading capabilities and educational materials. This is because when starting out, you will need to occasionally rely on the knowledge and skills of other traders to stay afloat. Also, with the educational resources offered by brokers, you can learn and analyses markets for yourself while you shore up your expertise.

The best platforms that fill this gap are AvaTrade, FXTM, and RoboForex.

Best Forex Bonuses in Nigeria

A few forex brokers offer bonuses to their clients, and one of them is FBS. FBS offers a 100% deposit bonus to both new and experienced traders. Also, you can receive a no deposit bonus.

Another good forex bonus is offered by InstaForex. Here, it offers a $500 bonus whether you make a deposit or not. That means all you have to do is open a live trading account, and your bonus will be deposited.

FAQs

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Team that worked on the article

Chinmay Soni

Developmental English Editor

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

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Dr. BJ Johnson

Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

Mirjan Hipolito

Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).