account types review Account Types does not have account types, but account options on the retail and professional accounts. offers 1 Retail Account and 1 Professional Account. has an overall Trust Score of 9 out of 10

Updated : June 2, 2022

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005 regulations book

Account Types Overview

005 feature selection

Account Types

001 cash withdrawal

Account Features

004 review

Pros and Cons

008 auction

Final Verdict

001 question

FAQ logo

Overall Rating

Min Deposit

USD 20 / 8292 NGN


CYSEC, ASIC, FCA and NBRB licence Seychelles coming soon

Trading Desk

Market maker



Total Pairs

Islamic Account


Trading Fees


Account Activation Time

24 Hours Account Types Overview

👉 According to research in Nigeria, has been in business since 2016 and is a Market Maker broker located in the United Kingdom, regulated by the FCA. In addition, is also regulated by ASIC, CySEC, and NBRB, in other jurisdictions. While is not regulated by the Central Bank of Nigeria (CBN), it is a trusted and safe option for Nigerian traders who want exposure to global financial markets.


👉 now has over 788,000 registered traders from all over the globe that uses the company’s complete trading solutions and services. is upfront about its costs, and traders are informed in advance of leverage-based overnight expenses. Additionally, traders get specialized language assistance.


👉 According to, it has a daily trading volume of more than $13 billion.’s CFD services enable investors to trade over 6,500 distinct financial products across many asset classes.’s trading expenses are clear, and the company provides customer safety and money security. At a Glance

🏛️ HeadquarteredUnited Kingdom
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2016
📱 Nigerian Office Contact NumberNone
⚖️ RegulationASIC, FCA, NBRB, and CySEC
🔎 License NumberUnited Kingdom – FRB 793714

Cyprus – 319/17

Belarus – 193225654

Australia – AFSL 513393
⚖️ CBN RegulationNone
✴️ Regional RestrictionsThe United States and Canada
☪️ Islamic AccountNo
📈 Demo AccountYes
📈 Retail Investor Accounts1 Retail, 1 Professional
📊 PAMM AccountsNone
📊 Liquidity ProvidersNone indicated
✔️ Affiliate ProgramYes
📊 Crypto trading offered?Yes
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum LeverageNBRB Registration – 1:100

FCA Registration – 1:30

ASIC/CySEC Registration – 1:30
📈 Leverage Restrictions for Nigeria?No
💳 Minimum Deposit (₦)8,000 Nigerian Naira equivalent to $20
💳 Nigerian Naira Deposits Allowed?Yes
💰 Active Nigerian Trader Stats1.3 million
💵 Active Nigerian-based customers150,000+
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal OptionsGlobal Bank Transfers
Credit Card
Debit Card
Apple Pay
Several Electronic Payment Processors
💰 Segregated Accounts with Nigerian Banks?No
💻 Trading Web, Mobile, MetaTrader 4, TradingView
💰 Tradable AssetsIndices
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on Website English, Indonesian, Malaysian, German, Spanish, French, Italian, Dutch, Polish, Portuguese, Romanian, Russian, Vietnamese, Bulgarian, Czech, Greek, Croatian, Latvian, Chinese (simplified), Thai, Finnish, and more.
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/7
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansNone
✴️ Education for Nigerian beginnersYes
📊 Proprietary trading softwareYes
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️ Is a safe broker for Nigerians?Yes
✔️ Rating for Nigeria9/10
✔️ Trust score for Nigeria76% Account Types

👉 does not offer a range of account options but instead offers a retail and professional account. Account Features

Retail Account

👉 There is a retail account for every trader, no matter what their goals or preferences are. Traders may look forward to the following features on this account:

➡️ A very low minimum deposit requirement of 8,000 Nigerian Naira or $20

➡️ Commission-free trading as the broker fee is added to the spreads that are charged

➡️ Access to over 6,500 tradable instruments

➡️ Low and competitive overnight fees

➡️ Tight spreads

➡️ Instant price alerts

➡️ Advanced charting

➡️ Flexible leverage according to the trader’s region and the regulation under which they register an account. NBRB regulation offers leverage up to 1:100, FCA up to 1:30, and ASIC/CySEC up to 1:30

➡️ A choice between powerful trading platforms

➡️ Nigerians can go long/short on trades

➡️ Negative balance protection is applied to retail investor accounts


Professional Account

👉 Nigerian traders must take into consideration elements such as leverage limitations, negative balance protection, and presumed experience to qualify as professional accounts.


👉 Because of their competence in trading, professional traders have access to larger leverage levels. For retail trading, negative balance protection is only available. This does not apply to professional accounts.


👉 Because professional traders are deemed to have a high degree of skill in managing risk, they will not have the same risk management tools available to them as regular investors. Demo Account

👉 With a demo account, traders can practice trading with a certain amount of virtual money before risking their own money on the actual market.


👉 Customers of have access to a risk-free trading platform that allows them to test methods and practice trading in a safe environment with genuine market circumstances before deciding whether to open an account. Islamic Account

👉 An Islamic Account’s primary function is to serve Muslim traders who adhere to Sharia law. Overnight fees, for example, are prohibited by the legislation since they are considered wasteful or exploitative.


👉 To avoid overnight fees or interest if traders keep positions open for an extended period after the trading day has ended, this kind of account provides an exemption.


👉 While does not offer the option for Muslim Nigerian traders to convert their retail account to an Islamic account, the broker offers crypto and stocks to Muslims when they trade without leverage as swap-free options on a retail account.


👉 According to, an Islamic account is in progress for Muslim traders who adhere to Sharia law. Pros and Cons

✔️ Pros❌ Cons is a well-regulated broker that reports excellent user experienceUnited States clients are not accepted offers a proprietary platform, mobile trading apps, and MetaTrader 4There are restrictions on leverage ratios
There is a transparent fee structure with tight spreads, commission-free trading, and a reasonable overnight fee chargeThe spreads are marked-up
Offers thematic investments and TV
The broker accepts all trading strategies including algorithmic trading, mobile trading, scalping, and others
Offers a decent selection of deposit methods and withdrawal options including bank wire transfer, bank transfer, and electronic payment processors
Currency conversion fees are not charged and there is a selection of base currencies
There is a decent selection of educational content offered
The proprietary platform offers charting tools and several other features
Regulatory protection is guaranteed through several regulatory bodies
There is a selection of instruments from a wide range of asset classes offers helpful customer service 24/7 and there is a lot of customer feedback reflecting a positive experience with the broker Final Verdict

👉 Overall, is considered a low-risk, trustworthy broker with a wide range of trading instruments and an economical social trading environment. is regulated by the top tiers FCA & CySEC and has low spreads and competitive trading fees against major currency pairs

Frequently Asked Questions

Can Nigerian traders open a trading account?

Yes, Nigerian traders are allowed to open a trading account

Which platforms are supported by supports the use of the following:

  • Web
  • Mobile
  • MetaTrader 4
  • Trading View

Does offer leverage?

Yes, offers leverage according to the trader’s region and the regulation through which they register an account. The maximum leverage offered is as follows:

  • NBRB Registration – 1:100
  • FCA Registration – 1:30
  • ASIC/CySEC Registration – 1:30

What spreads can I expect with offers average spreads from 0.6 pips on EUR/USD.

Does charge commission?

No, does not charge commissions on trades. 

9.6/10 - (13 votes)