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 stock brokers for day trading in Nigeria 2026. You can compare their features and trading conditions.
1
Easy Equities - Best for day trading in Nigeria
Easy Equities (EasyEquities) is a US stock broker providing financial services in the international market. The company opens access to South African, American and Australian markets and provides an opportunity to trade fractional shares. Investors can choose an individual or corporate account and there are also accounts for children. EasyEquities is a part of two licensed financial services companies — First World Trader and Purple Group.
👍 Advantages of trading with Easy Equities for traders from Nigeria:
•Demo accounts with two base currencies to choose from: USA and ZAR.
•Low trading commissions and zero non-trading fees.
•An account for children under age.
•No required minimum deposit amount.
•A possibility to invest independently or use investment offers of the broker.
•Residents of the majority of countries can open an account with the broker.
•Fractional shares are among trading instruments available to traders.
👎 Disadvantages of Easy Equities for traders from Nigeria:
•Deposit and withdrawal take several days.
•The broker offers very few methods of contacting customer support.
•There is no information about the authorities regulating the operation of Easy Equities.
2
TradeZero International - Best for day trading in Nigeria
TradeZero International is a Bahamian broker that provides its clients with access to the interbank market for stock trading. The platform allows you to trade limit orders for NYSE, Amex, and Nasdaq securities for free. Leverage, depending on the parameters of the order, ranges from 1:2 to 1:6. There are no templates for day trading. The broker has developed four trading platforms - ZeroPro (desktop), TZ1, ZeroFree (web), ZeroMobile, which make it possible to trade with maximum comfort, regardless of the level of the trader and his preferences. The platforms integrate technical analysis tools, news, and analytics. Recognized by leading industry awards for short selling, active trading technology, and paper trading. TradeZero has been named Best Brokerage for Short Selling at the Benzinga Fintech Awards for six consecutive years (2020–2025), along with the Chairman’s Award for Excellence in Active Trading Software for TZ1 in 2025 and Best Paper Trading Platform in 2024. In 2026, TradeZero was also named Best Broker for Short Selling (MEA) at the UF Awards.
👍 Advantages of trading with TradeZero International for traders from Nigeria:
•The broker allows you to trade all stocks that are listed on the NYSE, Amex, and Nasdaq exchanges.
•In addition to shares, trading in ETFs and options is available on objectively favorable terms.
•Limit orders greater than $1 and containing up to 200 shares are not subject to commission.
•The broker has proprietary software for working from a desktop, in a browser, and on a mobile device.
•Transparent pricing policy, fixed deposit/withdrawal commissions.
•No commissions on the first deposit.
•The broker provides an extensive pool of educational materials for traders of different levels.
•Fast technical support in live chat, and there is a multi-channel call center and email.
👎 Disadvantages of TradeZero International for traders from Nigeria:
•The minimum deposit is $500. It does not charge a commission, but this is a significant amount, which sometimes repels beginners.
•Technical support is not around the clock or on weekends.
•Service priority is given to premium accounts.
3
ETrade - Best for day trading in Nigeria
The Etrade broker is a subsidiary of Morgan Stanley, the financial conglomerate, which has been operating since 1982. Today, E*TRADE is the leading online platform for financial instruments trading on the world's major exchanges. It offers operations with stocks, options, futures, bonds, ETFs, as well as investments in mutual funds. The broker is a member of FINRA (CRD#: 29106/SEC#: 8-44112), SIPC, NFA (0401545), and the FDIC, and provides services according to its license with the SEC, the US Securities and Exchange Commission.
👍 Advantages of trading with ETrade for traders from Nigeria:
•Fully adaptable to e-commerce through its mobile applications.
•No commissions when working with stock options on American exchanges.
•Twenty-four/seven customer support via online chat.
👎 Disadvantages of ETrade for traders from Nigeria:
•The Forex market tools are not available for trading.
•Training is provided in English only,
•Leverage is limited and cannot exceed 50% of the trader's personal funds.
•You cannot open a demo account to test the broker's conditions.
•There is no support, the website is only in English.
4
ARMO Broker - Best for day trading in Nigeria
ARMO is a stockbroker based in Germany that provides financial services internationally. The conditions of the company are suitable for traders and investors with any level of knowledge in stock market trading, and it also provides access to a training center. There are no investment offers or methods to get passive income at the ARMO broker; therefore, the broker cooperates exclusively with active market participants only. Among the trading instruments at ARMO are stocks, options, futures, bonds, exchange-traded funds, CFDs, and Forex. In total, the company has over a million assets.
👍 Advantages of trading with ARMO Broker for traders from Nigeria:
•The broker provides a free demo account.
•ARMO customers can open a multi-currency account.
•The company provides training materials for beginners and professional traders.
•It protects client capital.
•ARMO clients have access to a wide range of trading instruments.
•There is no commission for non-trading activities.
👎 Disadvantages of ARMO Broker for traders from Nigeria:
•High level of minimum deposit.
•The company does not provide programs and services to receive passive income.
•There are few ways to replenish the deposit and withdraw funds.
5
Moomoo - Best for day trading in Nigeria
Moomoo (moomoo.com) is a California-based broker-dealer and a member of FINRA, SIPC, DTCC, OSS, and NASDAQ. Moomoo Inc. was established in 2018 and is a subsidiary of Futu Holdings Ltd., which is registered with the SEC (0001667858). Moomoo is a member of the LSE and SGX, and is licensed by MAS. The broker offers an intuitive trading platform with professional fundamental and technical analysis tools, as well as interest-free trading in US stocks, ADRs, ETFs, and options. For experienced traders, the platform provides a customizable news feed with audible alerts that allow you to quickly respond to market changes. Users have access to quotations on the exchanges of the USA, China, Hong Kong, and Forex markets. They also have enhanced possibilities for building both standard charts (bars, hollow, full candlesticks, and lines) and multi-charts, including VWAP with different time frames.
👍 Advantages of trading with Moomoo for traders from Nigeria:
•No commission when trading stocks, ETFs, options, and US ADRs.
•Analytical tools include third-party analyst ratings, graphical financial reports, and various charts with over 50 technical indicators.
•No minimum deposit required to open an account.
•All accounts open through a mobile application.
•Active trading community with over 100,000 users.
👎 Disadvantages of Moomoo for traders from Nigeria:
•No chat and phone support.
•Limited investment opportunities. You cannot use cryptocurrency, mutual funds, or bonds.
•Withdrawal of funds only via bank transfer and АСН.
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.
Easy Equities Commissions and Fees
Traders Union analyzed Easy Equities trading and non-trading commissions and fees. Easy Equities does not charge non-trading fees (for funding the account, using the trading platform, account servicing). Trade execution fee is 0.25%, minimum commission is USD 0.01. Withdrawal fee depends on the base currency of the account. Specifically, traders who use ZAR as their base currency do not pay a withdrawal fee, while for international withdrawals in USD the fee is set by the bank.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
ZAR |
from $0.01 |
No withdrawal fee, on withdrawals in USD the fee is charged and its amount depends on the bank, through which the transaction is performed |
|
USD |
from $0.01 |
No withdrawal fee, on withdrawals in USD the fee is charged and its amount depends on the bank, through which the transaction is performed |
|
AUD |
from $0.01 |
No withdrawal fee, on withdrawals in USD the fee is charged and its amount depends on the bank, through which the transaction is performed |
|
TFSA |
from $0.01 |
No withdrawal fee, on withdrawals in USD the fee is charged and its amount depends on the bank, through which the transaction is performed |
|
RA |
from $0.01 |
No withdrawal fee, on withdrawals in USD the fee is charged and its amount depends on the bank, through which the transaction is performed |
|
EasyProperties |
from $0.01 |
No withdrawal fee, on withdrawals in USD the fee is charged and its amount depends on the bank, through which the transaction is performed |
TradeZero International Commissions and Fees
$0 commission on non-marketable limit orders of 100 shares or more for NYSE, AMEX, and NASDAQ stocks priced above $1. Buy, sell, and short orders qualify. All other orders are subject to a commission of $0.005 per share, with a $0.49 minimum. Orders of fewer than 100 shares are charged a flat $0.49. $0 commission. $0.59 per contract. Cash-settled index options $0.49 flat. OCC $0.055. ORF up to $0.015. Exercise or assignment $35. The commission for all deposits: Equals $0; BMO $15 (waived on first deposit); wire/ACH. Withdrawals: $15 wire. Trades involving a broker are subject to a fee of $30. For paid software (ZeroPro), the company charges $59 each month. Inactivity $0. Margin interest 9%. Reorgs $35. Risk sellout $30.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
Yes |
|
|
Premium |
Yes |
ETrade Commissions and Fees
The broker's terms analysis for the direct and hidden commissions proved the following: the trading fee amount depends on the assets traded. There are also extra fees for certain types of contracts (index-type options). When working with securities of foreign exchange companies, a tax on financial transactions is collected. It is 0.12-0.3% of the total value of the transaction depending on the specific country. Moreover, the custody of depositary receipts for American shares involves a fee of $0.005 to $0.05 per unit. All information about fees is freely available on the E*TRADE website.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
E*TRADE |
from $1 |
There is a bank commission |
ARMO Broker Commissions and Fees
The experts at the Traders Union examined ARMO for trading and non-trading commissions, as well as hidden fees. No hidden fees were discovered. The execution fee is fixed. It is 0.12% of the order amount when trading stocks, warrants, and ETFs, from €1.9 for trading options and futures. The fee for trading Forex instruments is 0.4 pips; and fees for CFDs and bonds are 0.1% of the order volume. A commission of €8 is charged for the purchase and sale of certificates. Also, ARMO sets the minimum commission for clients from different countries and clients with different base account currencies.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Individual |
From €1.9 |
No |
|
Joint |
From €1.9 |
No |
|
Corporate |
From €1.9 |
No |
Moomoo Commissions and Fees
The Moomoo platform does not charge US residents a brokerage fee to open an account, for a margin account, maintenance, or the transfer of funds to an account. When trading Hong Kong and Chinese A-shares, the broker will charge a platform fee of 15 HKD or CGD, respectively, as well as a commission of 0.03% or 3 HKD/CGD. The long-term margin for US and Hong Kong stocks is 6.8%, and for Chinese A-shares, it’s 8.8%. There is a trading and clearing fee from $0.01 to $0.045 per transaction or contract from the SEC, FINRA, and OCC regulators. For non-US residents, fees are $0.0049 for shares and ADR. The platform fee is $0.005. The broker has several non-trading commissions such as internal wire transfer fees that cost $10 for deposits and $20 for withdrawals if the account balance is less than $2,500. Under the same conditions, the international transfer fee is $25. Transfers via ACH are free.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Individual Margin Account |
6.8% |
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 stock brokers for day trading in Nigeria 2026. 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 Stock Brokers For Day Trading in Nigeria
| Easy Equities | TradeZero International | ETrade | ARMO Broker | Moomoo | |
|---|---|---|---|---|---|
|
Overall score |
4.59 |
3.84 |
8.05 |
4.6 |
6.69 |
|
Execution of orders |
5.44 |
4.79 |
8 |
5.49 |
6.74 |
|
Investment instruments |
5.9 |
5.4 |
8.6 |
5.9 |
7.2 |
|
Withdrawal speed |
5.5 |
4.9 |
8.4 |
5.6 |
6.8 |
|
Customer Support work |
5.8 |
5.2 |
8.2 |
5.9 |
7.1 |
|
Variety of instruments |
5.28 |
4.63 |
7.9 |
5.33 |
6.58 |
|
Trading platform |
6 |
5.4 |
8.7 |
6.1 |
7.3 |
|
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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.
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).
What is a demo account and why is it important?
On a demo account, you trade by using virtual funds. It is important to choose a broker offering a demo account both for beginners, who are only learning, and for experienced traders, who can use this account type to test new strategies or EAs risk-free.
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.
Best Stock Brokers For Day Trading by Countries
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.
