Alpari (UK) Nigeria Review 2024 - TU expert opinion
Is the Forex market legit in Nigeria?
Performance of foreign currency buy/sell transactions in the Forex market is fully legal. Specialists of the Central Bank of Nigeria regulate the transactions and the income from trading must be declared and taxed. Forex trading industry is actively developing in the country, without foreign brokers entering the market, although the sector is weakly regulated at the moment.
Under the law of Nigeria, traders need to pay taxes and declare income. The financial regulator of Nigeria does not impose restrictions on trading any assets. Trading in the financial markets with licensed brokers in Nigeria is carried out 24/5.
How to Trade Forex in Nigeria
In order to start trading in the Forex market in Nigeria, you need to choose a reliable brokerage company and register a trading account. Next, you need to pass verification and deposit money to your account. You can use a demo account for testing strategy or gaining experience, before you start real trading.
Our Evaluation of Alpari (UK)
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Alpari (UK) is a reliable broker with the TU Overall Score of 7.01 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Alpari (UK) clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.
The Alpari broker focuses on traders with all levels of experience and provides clients with reasonable conditions for both active trading and investment.
Attention! The company does not participate in the cashback program.
Detailed Review of Alpari (UK) in Nigeria
Alpari (UK) is a good choice for traders from Nigeria. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
The Alpari broker has been providing services in the foreign exchange market for over 20 years and during this time has managed to enlist customer support from more than 150 countries. The priority of the company is quality service for traders and providing comfortable conditions for trading using innovative technologies. The broker managed to develop its own mobile application for online trading, a cashback system, and establish a charitable foundation.
A few numbers about the Alpari broker which will help a trader to choose a reliable broker:
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over 20 years of experience in the foreign exchange market;
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the company has over 1 million clients;
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cooperates with traders from 150 countries;
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trade turnover in 2019 amounted to over $1 trillion;
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during its work, the broker has received more than 30 local and international awards.
Advantages of Alpari (UK) for trading in Nigeria
Traders Union analysts conducted a detailed analysis of Alpari (UK) for traders from Nigeria. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
a wide range of trading accounts for clients with different needs and experience in trading;
prompt and polite support service, which can be contacted round-the-clock during the workweek;
a mobile application that allows you to carry out trades via a smartphone or other gadget;
a large number of ways to replenish the deposit and to withdraw earnings;
availability of training courses for traders with different levels of experience in foreign exchange trading;
investment offers for passive trading.
Also, the broker allows traders to hedge orders, use trading robots, advisors, and trading signals.
Analysis of the Main Features of Alpari (UK) in Nigeria
Traders Union analysts analyzed the key features of Alpari (UK) for traders from Nigeria. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for Alpari (UK) traders from Nigeria
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of Alpari (UK) trading conditions for traders from Nigeria. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
MetaTrader 4, MetaTrader 5
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📊 Accounts: |
nano.mt4, standard.mt4, standard.mt5, ecn.mt4, pro.ecn.mt4, special.ecn.mt4, ecn.mt5
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💰 Account currency: |
USD and EUR
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💵 Replenishment / Withdrawal: |
Bank transfer, bank cards, internet banks, electronic payment systems, payment terminals
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🚀 Minimum deposit: |
From $1
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⚖️ Leverage: |
Up to 1:3000
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💼 PAMM-accounts: |
Yes
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📈️ Min Order: |
0.01 lot
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💱 Spread: |
from 0.2 pips
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🔧 Instruments: |
Currency pairs, metals, CFDs
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💹 Margin Call / Stop Out: |
50%, from 10%
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🏛 Liquidity provider: |
-
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📱 Mobile trading: |
Yes
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Instant execution, Market execution
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⭐ Trading features: |
Automatic trading and use of trading signals; Investment offers for passive trading; Prompt and polite support service.
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🎁 Contests and bonuses: |
Yes
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Alpari (UK) Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by Alpari (UK) for traders from Nigeria. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
The experts at Traders Union have reviewed the trading conditions of Alpari for explicit and hidden commissions. No hidden trading fees were found, nor does the broker set a commission for the replenishment of a deposit or withdrawal of funds. Other commissions may be charged by a payment system under its rules. Users of pro.ecn.mt4 and ecn.mt5 accounts pay a commission of $1.6 per 1 lot and users of special.ecn.mt4 pay $6 per lot.
Account type | Spread (minimum value) | Withdrawal commission |
nano.mt4 | From $8 | No |
standard.mt4 | From $8 | No |
standard.mt5 | From $8 | No |
ecn.mt4 | From $8 | No |
pro.ecn.mt4 | From $8 | No |
special.ecn.mt4 | From $8 | No |
ecn.mt5 | From $8 | No |
There is a commission for the transfer of trading positions to the next day (swap). Also, TU has compared trading commissions at the Alpari broker with those of other Forex brokers. Each broker was assigned a level from low to high, based on the results of the assessment for this parameter.
FAQs
Is Alpari (UK) legal in Nigeria?
Yes. Alpari (UK) operates legally in Nigeria. The broker holds the necessary licenses.
Can you learn trading with Alpari (UK)? Does the broker offer courses for traders from Nigeria?
Yes, Alpari (UK) offers good trading courses and a lot of educational information for clients from Nigeria.
Can Alpari (UK) be trusted? Has the broker been operating in Nigeria long?
Alpari (UK) has been operating in Nigeria quite long and has a good reputation. Therefore, traders can work with Alpari (UK).
Is Alpari (UK) suitable for novice traders from Nigeria?
Yes. Alpari (UK) offers optimal trading conditions and good education for beginners from Nigeria.
How efficient is Alpari (UK) customer support in Nigeria?
Alpari (UK) offers a sufficient number of ways to contact customer support in Nigeria, and also provides support in the state language.
Has Alpari (UK) had any incidents involving theft of funds of clients from Nigeria?
No. Alpari (UK) provides reliable security of funds of clients from Nigeria.
Will I be able to file a lawsuit in Nigeria if Alpari (UK) violates my rights?
Yes. If Alpari (UK) violates your rights, you can file a complaint with the regulator of Nigeria, and then with a court.
Can Alpari (UK) clients from Nigeria use the broker’s mobile app?
Yes. The mobile app of Alpari (UK) is available for the clients from Nigeria.
Does Alpari (UK) provide Nigeria market analysis?
Analysis of Nigeria is featured in the information provided by Alpari (UK).
How can I withdraw funds from my account at Alpari (UK) in Nigeria?
Alpari (UK) supports bank transfers and debit/credit cards of the banks operating in Nigeria.
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.
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.