Best Forex No Deposit Bonus in Nigeria - Top 8 Brokers for 2025

Go to broker’s website Plus500 Overview

If you're too busy to read the entire article and want a quick answer, the best Forex no deposit bonus 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
• Favorable and high leverage
• Suitable trading platform for traders of all levels

Go to broker’s website Plus500 Overview

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

Choosing a trustworthy Forex broker is an important decision for any trader starting out in the Nigerian market. A no deposit bonus is an attractive option for new customers to test the waters without risking their own money from the start. However, with many brokers advertising these promotional offers, it can be difficult to separate the reputable from the questionable.

This article aims to help navigate those waters by highlighting some of the top brokers offering no deposit bonuses that are both generous and secure to use. Through a balanced analysis of factors like payment processing speed, software functionality and customer service records, the eight brokers profiled here have demonstrated a long-term commitment to serving Nigerian clients responsibly and legally. For those intrigued about trading currencies but understandably cautious about risks, this guide covers options worth considering to take those exploratory first steps into the world of Forex.

8 best Forex bonuses in Nigeria

The Forex no deposit bonus in Nigeria is not the only kind of bonus that brokers offer to traders, but it is one of the most popular. The Forex welcome bonus is the second most popular among novice traders. The conditions for receiving these rewards may differ from broker to broker.

It makes sense to compare the parameters for receiving a Forex bonus from several brokers and choose the most loyal conditions. For example, some brokers give welcome bonuses with a minimum level of verification (a confirmed phone number is enough, and a scanned copy of a passport or driver's license is not required). The comparative table below shows the leading brokers in the region and the conditions for the best bonuses.

How to get the RoboForex $30 bonus

The Forex welcome Forex bonus in Nigeria is bigger than the no-deposit bonus and has more favorable conditions for the withdrawal of the profit (or even the bonus itself). That's why the welcome bonus from RoboForex is in high demand, but you should clearly understand what conditions are necessary to receive it.

Step 1

Launch your browser and go to the RoboForex broker's official website. In the upper right corner select your language. The next step is to click on the "Registration" button and enter your personal information such as your email, first and last name, and your phone number. You will need to confirm your email and phone number. Agree to the broker's terms of service and the processing of private information, and click on the "Register" button at the bottom.

Registration on RoboForex

Step 2

Select your preferred account type on the next screen. A Standard account will be created by default. Note that the Forex welcome bonus Forex in Nigeria is available only on a "Real" account such as the Pro and ProCent accounts. After you have selected your preferred account type or accepted the Standard account, click on the "Confirm" button at the bottom of the screen.

Registration on RoboForex

Step 3

You have now registered, but that's not enough to get the bonus. Now you need to verify your account, that is, confirm your identity. To do this, click on the question mark icon on the right side of the "Verification" line. You have two options — send a document proving your identity (passport) or a document proving your residential address (utility bill). Send a scan or picture of the proof and wait until the verification is completed. If all goes well, within five days you will receive a welcome bonus of $30 to your account.

RoboForex account verification

What is a Forex Bonus?

A Forex bonus is funds transferred by a broker free of charge to a trader if the trader meets certain conditions. Usually, to receive bonuses it is enough to register and confirm your personal data. Forex no deposit bonus in Nigeria is not the only kind of incentive used by brokers to attract clients, but it is the most popular.

This is beneficial for the broker too, because he gets new clients and thereby increases his income. In this case, the trader receives additional funds to his account, which he can use in trading activities. Sometimes these are very significant amounts, such as Forex bonuses, which may amount to up to 120% of the deposited amount. In case the trader has a small budget, he can afford to make higher bets.

Forex welcome bonus

There is a prerequisite for receiving this type of bonus. This type of brokerage incentive is provided to the trader who registers for the first time on the exchange platform. Usually, it is a fixed amount such as $30. In some companies, brokers offer clients to increase their deposit if they replenish the account for a certain amount. For example, it can be 60% or even 120% of the deposit bonus.

No deposit bonus Forex

The main advantage of this type of bonus is that to get it, it is not necessary to pay a deposit, but a trader can trade on the exchange only after registration and verification. Many believe that these bonuses are the most valuable, and they do allow one to trade without making a deposit. As with any other incentive, there are pitfalls.

Forex bonus with each deposit

This is a deposit bonus, which means that, like the welcome bonus, you will receive it only after making a deposit (the minimum amount is sufficient). The difference is that the deposit bonus is recurring, and not just when you sign up or make your first deposit. It provides traders with additional funds for trading, but it also has some disadvantages to consider.

Can I withdraw my Forex bonus in Nigeria?

• The Forex welcome bonus Nigeria, which RoboForex provides to its traders, cannot be withdrawn from the account. However, it can be used in trading (funds do not participate in "drawdown"). All profits earned by a trader using the bonus funds may be withdrawn without any restrictions.

• A Forex bonus that is 120% of the deposit amount, can also be used in trading but cannot be withdrawn. Any profit gained from trading using the bonus funds may be withdrawn in volume according to this formula: "Profit available for withdrawal = free margin minus the total amount of all active bonuses, meaning the total amount of deposits on which bonuses have been accumulated". A trader may withdraw a deposit for which he has received a bonus only in the amount according to the formula: "Number of lots = bonus amount in USD/2".

• The RoboForex deposit bonus of 60% of the deposit amount can be used repeatedly. It is available for trading and is spent upon the drawdown. Profits gained by using the bonus are withdrawn without any restrictions, but not the bonus itself. The deposit, on which the bonus is received, is withdrawn in volume according to the formula: "Number of lots = bonus amount in USD/2".

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.

How to choose a Forex bonus in Nigeria?

Scenario 1

The Forex no deposit bonus in Nigeria may not be as profitable as it seems at first glance because each bonus has preconditions for receiving it and/or drawing it down. Sometimes, after taking into account all the requirements, it is not reasonable to seek out a bonus.

Scenario 2

Some brokers offer more than one type of Forex bonus when you make a deposit. Different bonus types are not always fungible, and they often cannot be activated at the same time, so you have to choose. Take your time to choose, and carefully read the terms of use of each bonus. Certain promotions are more profitable to activate when you make the first deposit.

Scenario 3

Always read the full Forex bonus terms and conditions. The statements on the main page of the site contain only the most attractive talking points and do not give an objective view of the bonus. Go to the page with a detailed explanation of the bonuses, there you will find the necessary information on the conditions of their receipt and withdrawal.

Scenario 4

The Forex welcome bonus in Nigeria may not be available due to regional restrictions. Often the reason is the local legislation or other obstacles that govern the broker's business. Therefore, study the site carefully, it must have a list of countries for which there are restrictions.

Scenario 5

To choose the Forex bonus type with the best conditions, you need to analyze several companies providing brokerage services in Nigeria. But you can save time and study the top eight, compiled by the Traders Union experts.

Summary

Welcoming and no deposit bonus Forex in Nigeria can be profitable, especially for beginning traders. They allow you to increase your initial deposit or even build it up without investing your own budget.

However, there are always some restrictions associated with incentives offered by a broker. For example, the bonus itself is seldom withdrawable. Sometimes, to withdraw the deposit for which the bonus is received, a certain volume of trades must be realized. In rare cases, there are also restrictions on the profits earned from the bonus funds and even time limits within which to accomplish trade volume(s).

That’s why for every Forex bonus, it is necessary to consider not only its advantages but also its disadvantages. In addition, brokers differ in the terms of providing bonuses, so one company may have several types of bonuses at once, and they may not be compatible. To make a reasonable choice, you should study and compare the bonuses offered by the top brokers.

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Team that worked on the article

Mikhail Vnuchkov

Author at Traders Union

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.

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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.

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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).