8 Best Bitcoin Trading Platforms in Nigeria
The 8 Best Bitcoin Trading Platforms in Nigeria revealed. We tested and verified the best Bitcoin Trading Platforms for Nigerian Traders.
This is a complete list of Bitcoin Trading Platforms in Nigeria.
In this in-depth guide you’ll learn:
- What is a Bitcoin Trading Platform?
- Who are the best low-minimum deposit Bitcoin brokers for Nigerians?
- Our recommended EIGHT Bitcoin Trading Platfroms for Nigerian Beginner Traders?
- How to compare Bitcoin trading brokers against each other?
- How and can I trade Bitcoin with $5 (2 096 NGN)?
- Which brokers offer a signup bonus on a $5 (2 096 NGN) deposit?
- Which Bitcoin Broker offer a low minimum deposit of $5 (2 096 NGN) for first time traders?
And lots more…
So if you’re ready to go “all in” with the best-tested Bitcoin Brokers in Nigeria…
Let’s dive right in…
- Louis Schoeman
What is Bitcoin trading, and how does it work?
👉 Decentralised cryptocurrency markets are not issued or supported by a central body such as a government. Instead, they traverse a computer network. Nevertheless, cryptocurrencies can be purchased and traded on exchanges and held in “wallets.”
👉 Bitcoin is often used as an alternative investment, helping to diversify a portfolio beyond equities and bonds. You may also make purchases using Bitcoin; however, some businesses accept the native cryptocurrency.
👉 Bitcoin enables individuals to hold value independent of a government-issued currency. It allows individuals to hedge against the worst-case situation. Most Bitcoin buyers use cryptocurrency exchanges, and these exchanges enable the purchase, sale, and storage of cryptocurrencies.
👉 Like creating a brokerage account, you will need to authenticate your identity and provide a funding source, such as a bank account or debit card, to create an account before you can start trading Bitcoin.
1. Poloniex
Overview
👉 Poloniex, a Delaware-based cryptocurrency exchange and service provider, was founded in 2014. The exchange supports a comprehensive range of cryptocurrencies and offers very affordable trading costs.
👉 If trading a vast number of digital currencies at reasonable prices is your top goal, Poloniex is the exchange for you. Poloniex facilitates the purchase of cryptocurrencies by bank account, Visa, Mastercard, and Apple Pay.
👉 In addition, it enables users to deal with decentralized financial products, such as a decentralized exchange, and it provides trading platforms that are appropriate for both novice and experienced traders.
👉 Poloniex may seem to be the perfect cryptocurrency exchange for all investors. This platform’s low trading costs and extensive cryptocurrency selection make it an intriguing alternative.
👉 In addition, it provides margin trading products, cryptocurrency loans, and several trading platforms for buying and selling an extensive list of supported currencies. Poloniex offers multiple platforms that may be suitable for traders with varying degrees of expertise.
👉 Beginners should begin with the basic buy-and-sell form, while seasoned traders may immediately access the active trading exchange.
👉 The active trading platform of Poloniex provides a chart with many indicators. In addition, you could check previous transactions, an overview of the existing order book, your open orders, and a brief trading form.
👉 Active trading will be preferred by traders with past expertise in Bitcoin, stock trading, or other active markets. Poloniex offers applications for both iOS and Android smartphones.
👉 The Apple version is available on the App Store, while the Android version is available through Google Play or direct download. The applications provide account management, the viewing of crypto balances, and the trading of supported currencies.
Features and Information
| Platform Criteria | Information |
| 💰 Exchange Score | 5.7 |
| 📊 Market Ranking | #25 |
| 📈 Average Trading Volume (24h) | $48,167,683 |
| 💧 Average Liquidity | 374 BTC |
| 🔄 Average Regular Visitors (Weekly) | 196,298 |
| ✔️ Markets Offered | 444 |
| ✅ Coin Offering | 282 |
| 👍 Fiat Currency Supported | None |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Poloniex charges Nigerians low trading fees regardless of their trading volume, with the highest trading fee tier starting from 0.155%, which is ultra-low when compared to other exchanges | Advanced order types are not supported. |
| There are both basic and active trading platforms offered, which accommodate both beginners and professional traders. | There are reports of poor customer support. |
| There are 282 cryptocurrencies offered at the current market rate. | There is a history of hacked accounts in 2014 and 2020. |
2. Coinbase
Overview
👉 With its user-friendly interface and intuitive features, Coinbase makes buying and selling cryptocurrency a breeze. Due to these benefits, Coinbase has become one of the most popular cryptocurrency exchanges in Nigeria and throughout Africa.
👉 People who are new to the world of cryptocurrencies will enjoy how simple Coinbase makes it to purchase cryptocurrencies. However, amateurs may not completely realize how expensive this comfort might be.
👉 Smaller transactions might easily incur costs equivalent to 15% of their value, drastically hindering the growth of your investment. Therefore, even novice Nigerian Bitcoin traders should consider making the switch to Coinbase Pro as soon as they are able.
👉 This reduces transaction costs to a more acceptable, but still quite expensive, 0.60% for transactions up to £7,701 ($10,000).
👉 Despite its higher-than-average fees, Coinbase has a lot going for it. It has a formidable reputation for security and maintains most client assets offline to reduce the danger of hacking.
👉 “Learn and Earn” is a unique educational website that pays users with cryptocurrency as they go through classes.
👉 Those who possess certain coins in their Coinbase accounts are eligible for prizes if they let Coinbase stake them or use them as collateral to validate transactions for proof-of-stake cryptocurrencies like Ethereum. Coinbase charges a 25% fee on staking income.
Features and Information
| Platform Criteria | Information |
| 💻 Exchange Score | 7.9 |
| ✔️ Market Ranking | #3 |
| ⏰ Average Trading Volume (24h) | US$ 1,625,080,393 |
| 💧 Average Liquidity | 681 BTC |
| 🗣 Average Regular Visitors (Weekly) | 1.9 million+ |
| ✅ Markets Offered | 573 |
| ✔️ Coin Offering | 209 |
| 👍 Fiat Currency Supported | USD, EUR, GBP |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| There are many trading options offered by Coinbase along with a vast range of coins | There are extremely expensive fees |
| Funds on Coinbase are insured | There are some restrictions on alternative coins offered |
| The mobile app is critically acclaimed as one of the best in the industry |
3. OKX
Overview
👉 OKX is a 2014-founded cryptocurrency exchange situated in Malta that serves millions of customers in more than 100 countries. OKX also provides spot trading, futures trading, and derivatives trading in addition to cryptocurrency trading.
👉 As such, it is the biggest spot and derivatives exchange in the world (also in terms of trading volume). Before joining the Bitcoin trading platform, the current CEO of the OKX trading platform, JayHao, had a deep interest in and competence with game creation.
👉 OKX is one of the most diverse exchanges due to its margin trading, bridges, mining pools, cloud service, decentralized options with OKExChain, loans, and broker options, among others. Additionally, they provide an educational platform for learning about exchange and trade in general.
👉 Overall, it provides all the instruments necessary for beginners, as well as a wide selection of possibilities for those aspiring to become expert traders.
👉 OKX provides 400+ trading pairs and enables you to convert money to cryptocurrency through Apple Pay, Visa, Mastercard, bank transfer, Alipay, WeChat pay, etc.
👉 In addition, they support over 30 cryptocurrencies, including the Canadian dollar (CAD), Chinese yuan (CNY), euro (EUR), Japanese yen (JPY), Hong Kong dollar (HKD), and Chilean peso (CLP), among others.
👉 With required two-factor authentication, smartphone verification, Google Authenticator choices, and anti-phishing code, OKX’s assertions that security is a top focus are credible.
👉 In addition to normal DEX trading, OKX’s decentralized platform supports swap trading, liquidity pools, farm pools, and a decentralized wallet. OKX provides solutions for people who want decentralized exchanges.
Features and Information
| Platform Criteria | Information |
| 💰 Exchange Score | 6.3 |
| 📊 Market Ranking | 17 |
| 📈 Average Trading Volume (24h) | $1,787,763,362 |
| 💧 Average Liquidity | 511 BTC |
| 🔄 Average Regular Visitors (Weekly) | 1,608,359 |
| ✔️ Markets Offered | 817 |
| ✅ Coin Offering | 366 |
| 👍 Fiat Currency Supported | AED, USD, AUD, and 43 others. |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| OKX is known for its competitively low trading fees. | There are some limitations on withdrawals. |
| There are no deposit fees charged and OKX accepts several payment methods. | |
| There are over 300 coins offered on OKX. | |
| Nigerians can trade Bitcoin and other digital assets in addition to spot, futures, margin, and derivatives trading. | |
| OKX has a user-friendly interface and there is a mobile trading app offered. |
4. Binance
Overview
👉 Binance is a name that everyone working with cryptocurrency is certainly familiar with.
👉 Since its debut in 2017, it has been overseen by its creator Changpeng Zhao and has maintained the cheap trading costs and innovative features that have made it so famous within the cryptocurrency industry.
👉 In the brief period that Binance has existed, it has introduced a mountain of new features, and it also has a thriving and active trading community.
👉 From extending support for fiat currencies to introducing its own Binance Chain and Binance Coin, the exchange is always seeking new ways to create value for its customers.
👉 In the future, it may transform into a decentralized autonomous organization (DAO), leaving its control to the traders who use it.
👉 As the highest volume cryptocurrency exchange, Binance can handle a considerable number of transactions without experiencing a delay in transaction times, but it is also recognized for certain typical concerns, such as unscheduled maintenance and the rare security flaw.
👉 Binance is active in every element of the cryptocurrency ecosystem. Its ingenuity has made it one of the most popular cryptocurrency exchanges, and the effort of Binance’s engineers and community members assures the platform’s continued improvement.
👉 It has become a wonderful destination for both novice and seasoned cryptocurrency traders and aficionados. According to several interviews, there are now around 15 million Binance users.
👉 Binance does not disclose its user count. In addition, the exchange settles over $4 billion each day, with over $20 billion in trade activity on its peak days.
Features and Information
| Platform Criteria | Information |
| 💻 Exchange Score | 9.9 |
| ✔️ Market Ranking | #1 |
| ⏰ Average Trading Volume (24h) | US$15,948,394,708 |
| 💧 Average Liquidity | 854 BTC |
| 🗣 Average Regular Visitors (Weekly) | 20 million+ |
| ✅ Markets Offered | 1,684 |
| ✔️ Coin Offering | 393 |
| 👍 Fiat Currency Supported | 46 including USD, AUD, AED, etc. |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| Binance is known for its ultra-low fees | Binance has some restrictions on its area of service |
| Binance offers the perfect platform for passive income | |
| There are a plethora of educational resources | |
| There is a massive range of coins offered |
5. Bitstamp
Overview
👉 In 2011, Bitstamp was founded, making it one of the first venues to purchase and trade Bitcoin. It is an excellent option for novice and casual Bitcoin investors seeking low rates and an intuitive UI. Bitstamp boasts outstanding security and is one of the most secure cryptocurrency exchanges.
👉 An impressive 98% of the exchange’s assets are kept offline in cold storage. This crypto storage is the safest since offline storage protects cash from hackers. Bitstamp uses the little%age of cash it retains in “hot storage” (connected to the internet) for daily trading.
👉 Bitstamp provides an additional degree of security with theft insurance coverage. Its insurance covers theft when the exchange itself is compromised, but not if your login credentials are compromised.
👉 Bitstamp provides optional two-factor authentication (2FA) and addresses authorization to safeguard client accounts and assets. The 2FA demands that you log in with both your password and an additional authentication method, such as a code texted to your mobile device.
👉 Authorizing an address enables you to define which addresses are permitted to receive withdrawals from your account. On Bitstamp’s basic trading interface, you may buy and sell using immediate, market, limit, and stop orders.
👉 You can make purchases using your Bitstamp balance or a linked card for an additional cost. The centre platform features a basic chart, active buy and sell offers, and a simple order form.
👉 Tradeview, Bitstamp’s active trading platform with more complex charting tools, a live-updated order book, depth chart, and rapid trading forms, would appeal to more experienced traders. Both the basic and Tradeview platforms provide access to the same order types.
Features and Information
| Platform Criteria | Information |
| 💰 Exchange Score | 6.6 |
| 📊 Market Ranking | #12 |
| 📈 Average Trading Volume (24h) | $141,408,400 |
| 💧 Average Liquidity | 566 |
| 🔄 Average Regular Visitors (Weekly) | 279,637 |
| ✔️ Markets Offered | 158 |
| ✅ Coin Offering | 65 |
| 👍 Fiat Currency Supported | USD, EUR, GBP |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Bitstamp has an extremely user-friendly trading platform. | There is an extremely limited range of coins offered. |
| Nigerians can expect competitive fees. | There are only a few coins that can be staked. |
| Bitstamp has an exceptionally long history of supporting crypto users. | There is no margin trading or lending feature offered. |
| Both beginner Bitcoin traders and professionals are accommodated. | |
| The mobile app is highly rated on app stores. | |
| Nigerians can earn rewards when they stake tokens. |
6. Crypto.com Exchange
Overview
👉 In a few short years after its establishment in 2016, Crypto.com has become a fully-fledged and well-known worldwide cryptocurrency centre. Its crypto ecosystem comprises Crypto.com Pay, Crypto Earn, Crypto Credit, and many more services.
👉 Crypto.com collaborates with regulatory organizations from across the world to provide the simplest method to purchase, sell, trade, and spend cryptocurrencies.
👉 The Crypto.com App enables users to acquire over 100 leading cryptocurrencies at their real market price, earn high interest on their crypto holdings, manage their Crypto.com Visa Card, and make crypto payments with ease, among other advantageous features.
👉 Crypto.com might be a particularly excellent alternative for individuals prepared to go all-in on the platform, given its multiple benefits and features. For instance, large holdings of CRO, Crypto.com’s native cryptocurrency, result in decreased trading costs and more benefits on the Crypto.com Visa card.
👉 If you are unfamiliar with cryptocurrencies, you may find Crypto.com’s trading interface overwhelming. The creators of Crypto.com foresee a future in which cryptocurrencies are a mainstream investment class as opposed to a novelty.
👉 Crypto.com provides a prepaid Visa card that operates like a debit card with incentives and makes it easier to spend cryptocurrency holdings. Although it is accessible to everyone, those who acquire and hold the platform’s native cryptocurrency, CRO, have the most profit potential.
👉 Like other prominent cryptocurrency exchanges, you may earn interest by lending your Bitcoin to others. Borrowers may then use these loans to validate proof-of-stake currency transactions or for other uses.
👉 Through Crypto.com’s Earn program, you may earn up to 14.5% annually on deposits of more than 30 cryptocurrencies, depending on the coin you choose to loan out and the amount of CRO in your account.
Features and Information
| Platform Criteria | Information |
| 💰 Exchange Score | 6.4 |
| 📊 Market Ranking | #16 |
| 📈 Average Trading Volume (24h) | $351,755,082 |
| 💧 Average Liquidity | 654 BTC |
| 🔄 Average Regular Visitors (Weekly) | 1,229,917 |
| ✔️ Markets Offered | 470 |
| ✅ Coin Offering | 223 |
| 👍 Fiat Currency Supported | None |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| Nigerians can make VISA payments through the app | The fees for credit and debit card purchases are high |
| There are several trading options offered to Nigerians | There is no coin-to-coin trading offered |
| The fees charged on the app are reasonable |
7. MEXC
Overview
👉 MEXC is a controlled cryptocurrency exchange that was founded in 2018 in Seychelles, East Africa, and has lately attracted a great deal of global attention.
👉 The key members of the team come from world-renowned corporations and financial institutions and have extensive expertise in blockchain and the financial sector. MEXC is technically a consolidated cryptocurrency exchange, and it is fast gaining popularity among cryptocurrency users worldwide.
👉 MEXC has a sophisticated cold storage wallet to bolster the safety of cash stored on the exchange. The technology is meant to handle Bitcoin deposits totalling $500 million. Currently, no security breaches are known to have occurred.
👉 MEXC claims to use a high-performance mega-transaction matching technique, and users could trade all 1,478 coins listed on the exchange using spot or margin.
👉 New currencies and projects are added regularly, and you will discover popular coins like DeFi, NFT, and Polkadot that could not be mentioned elsewhere. MEXC was one of the first exchanges to offer several popular tokens, far ahead of the competition.
Features and Information
| Platform Criteria | Information |
| 💰 Exchange Score | 6.5 |
| 📊 Market Ranking | #14 |
| 📈 Average Trading Volume (24h) | $1,589,414,316 |
| 💧 Average Liquidity | 576 |
| 🔄 Average Regular Visitors (Weekly) | 1,692,141 |
| ✔️ Markets Offered | 1,699 |
| ✅ Coin Offering | 1,478 |
| 👍 Fiat Currency Supported | None |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| MEXC is known for its comprehensive trading environment in which over 1,000 coins can be traded. | The platform does not accept any fiat currencies. |
| There are affordable trading fees charged. | There is no margin trading offered. |
| MEXC offers a mobile trading app for Nigerians. | |
| There are several innovative security features for beginner and professional traders. | |
| There are a plethora of payment methods offered for deposits and withdrawals. |
8. bitFlyer
Overview
👉 bitFlyer is a Japanese-based cryptocurrency exchange with a San Francisco branch. Although it only supports a limited number of digital currencies, the cost structure and features make it a decent option for customers who are new to cryptocurrencies.
👉 It also offers a professional active trading platform with a separate price structure. In addition to being a user-friendly site for crypto novices, bitFlyer provides a price structure with no per-trade costs.
👉 Instead, it employs spread-based pricing, in which all expenses are included in the price of the currency.
👉 Using the mobile app and website of bitFlyer, buying, and selling Bitcoin are as simple as buying and selling stocks. If you have ever maintained a stock brokerage account, you should find bitFlyer intuitive.
👉 The dashboard provides easy access to account balances, transaction entry, and account updates. Separate from other cryptocurrencies, known as altcoins, there is a designated section for Bitcoin. Regarding security, bitFlyer is among the finest in the industry.
👉 It employs the most advanced security methods, such as multi-sig Bitcoin wallets that need multiple signatures to transmit crypto, SSL encryption, two-factor authentication, and frequent platform stress testing.
👉 Most of the exchange’s crypto money is likewise stored offline in cold wallets to safeguard them from hackers. bitFlyer’s user-friendly interface makes it simple to begin investing in cryptocurrencies. The account registration procedure is quick.
👉 After completing these steps and having your identification validated, you may deposit money to your account and purchase any of the available cryptocurrencies. Everything is well described on your bitFlyer account, so the learning curve is minimal.
Features and Information
| Platform Criteria | Information |
| 💰 Exchange Score | 6.5 |
| 📊 Market Ranking | #13 |
| 📈 Average Trading Volume (24h) | $82,812,549 |
| 💧 Average Liquidity | 561 |
| 🔄 Average Regular Visitors (Weekly) | 606,904 |
| ✔️ Markets Offered | 10 |
| ✅ Coin Offering | 9 |
| 👍 Fiat Currency Supported | USD, JPY, EUR |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| When Nigerians buy and sell Bitcoin there is no fixed per-trade fee. | There is an extremely limited range of cryptocurrencies offered. |
| There is a simple and user-friendly purchase form for beginners while more advanced traders have access to a more advanced platform. | bitFlyer may suffer some liquidity issues. |
| There are over 2.5 million registered traders. | The baked-in spreads can reach up to 6%. |
| The platform offers some of the most robust security. |
How to choose the Right Bitcoin Trading Platform in Nigeria
👉 The need for Bitcoin brokers has grown because of the thousands of individuals interested in investing in cryptocurrencies globally.
👉 Numerous Bitcoin brokers will be offering their services on the market, but you will also run across reports of frauds involving Bitcoin brokers.
👉 Not all Bitcoin brokers can be trusted since many of them have turned into frauds. Even if they are, they lack adequate security measures or are deficient in certain key areas, which may cause a lot of issues for Bitcoin traders.
👉 You must thus carefully choose a crypto broker, and we have provided key features that you must verify before you deal with a crypto broker.
Background and Financial Backing
👉 A good Bitcoin broker has robust financial support, which necessitates a substantial capital basis. This ensures that your Bitcoin is secure and that the broker will not go bankrupt.
Experience and Credibility
👉 The crypto market is young compared to other markets. However, this does not imply that all brokers are unskilled. There are reputable and professional Bitcoin brokers available for usage.
👉 Bitcoin brokers must possess the necessary qualifications, such as licenses from famous and respectable regulatory authorities and specialists on their staff. You can read reviews of the broker and get insight into their services to assess whether they are a good match for you.
Responsive Customer Support
👉 Since Bitcoin trading is available 24 hours a day, seven days a week, you could have a problem or query at any moment.
👉 Therefore, it is important to seek a broker who is accessible 24/7. Regardless of your time zone, they should have a competent support crew that can respond to inquiries and concerns in a timely and professional way.
Crypto Trading Fees and Commissions
👉 You must investigate the commissions and other costs that Bitcoin brokers impose. Ensure the broker outlines the fees they charge, and any other dangers associated so that you may make an informed choice.
Trading Platform
👉 No Bitcoin broker is complete without a user-friendly web, desktop, or mobile platform, often all three. These platforms are required for an assortment of reasons.
👉 They give customers a great degree of simplicity in Bitcoin trading, and a well-designed platform provides them with a variety of possibilities.
👉 These choices make things easier and more comfortable for novice and seasoned Bitcoin traders alike. Ensure that your preferred dealer has a modern platform or a selection of platforms.
Longevity of brokerage
👉 There may be a small number of trustworthy Bitcoin brokers that have just started up, but they are quite rare. If a Bitcoin broker has been in existence for an extended length of time, it has been doing something right, as shown by the fact that customers continue to depend on it.
Account Registration Process
👉 Very few traders realize that the registration procedures of Bitcoin brokers reveal a great deal about their character. Veteran traders in this industry can rapidly determine if a broker is excellent or terrible based just on the sign-up procedure.
👉 You may initially have some problems with spotting the legit Bitcoin brokers. However, as time goes by, you will have a better time distinguishing between excellent and unfavourable brokers. A vast number of depositing fees is a frequent indicator of a fraudulent sign-up procedure.
👉 Most instances in which Bitcoin brokers urge their customers to deposit a big sum of money to join up are probable scams. This is made apparent by the fact that many reputable Bitcoin brokers now accept little or no deposits from prospective clients.
👉 You should opt for these Bitcoin brokers instead of those that want vast quantities of money for crypto transactions.
👉 Additionally, investigate the process’s security. You can do this by examining the search bar’s top-left corner for an SSL certificate. This certificate ensures that a website is secure and will not expose your data to hackers.
Technical Support for Cryptocurrencies
👉 The distinction between customer service and technical assistance cannot be overstated. Most firms have technical support teams to assist clients with issues that need assistance from experts in that field.
👉 A significant majority of Bitcoin brokers lack any form of technical support personnel. They believe that their customer service professionals are sufficient for the task and depend only on them.
👉 The team should comprise Bitcoin industry veterans with decades of expertise. They should have a thorough understanding of how things operate and be able to deliver rapid answers within minutes.
👉 Determining whether a Bitcoin broker has a competent technical support staff might consume considerable time. In most instances, a substantial bit of trial and error is required.
Overall Convenience
👉 If a Bitcoin broker does not provide any convenience, they are not worth your time. As the environment changes, this sector is undergoing tremendous change. To make the appropriate judgments at the right time, you must be current on many matters.
👉 This is only achievable if your broker provides you with features that enhance your entire experience. Your broker’s platform should be compatible with a range of devices.
👉 Using your smartphone or tablet, you should be able to access your account and see all your trades and other crypto-related actions.
👉 Easy accessibility enables you to trade on the move while guaranteeing that you do not miss anything crucial and aside from that, the broker should utilize straightforward language.
Demo Account
👉 Today, one just cannot do without a reliable demo trading solution. There are several complex circumstances involved in Bitcoin trading. If you are just beginning in this sector, you will not know how to make timely judgments.
👉 You will lose a substantial amount of money as a result, and Bitcoin demo trading might help you avoid these errors.
👉 It will instruct you on trading in the actual world while guaranteeing that your selections do not negatively affect your funds. With this option, you will neither gain nor lose money. Nonetheless, you will get knowledge about how cryptocurrency trading is conducted.
The Best Bitcoin Brokers in Nigeria
👉 In this article, we have listed the best brokers that offer trading solutions and opportunities to traders in Nigeria. We have further identified the brokers that offer additional services and solutions to Nigerian traders.
Best MetaTrader 4 / MT4 Broker in Nigeria
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 NGN
Regulators
FSA, FCA, ASIC, DFSA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
66
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Axi is the best MT4 Broker in Nigeria. More than 130 different items from Axi are available for trading on MetaTrader 4. Axi offers some of the greatest trading conditions to Nigerian traders, including minimal opening spreads on all account types.
Best MetaTrader 5 / MT5 Broker in Nigeria
Overall Rating
- 4.7/5
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, RoboForex is the best MetaTrader 5 broker in Nigeria. RoboForex provides traders with a selection of 12,000 tradable instruments that may be traded on MetaTrader 5 in addition to a few more potent trading platforms.
Best Broker for beginners in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, AvaTrade is the best Broker for beginners in Nigeria. For new traders in Nigeria, AvaTrade provides some of the greatest teaching resources. Along with webinars, seminars, and other events, there are several manuals and videos.
Best Low Minimum Deposit Broker in Nigeria
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 NGN
Regulators
FSCA, CMA, CySEC, DFSA, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, HF Markets is the best Low Minimum Deposit Broker in Nigeria. With a minimum investment of 2,000 Naira, HF Markets provides live trading accounts to Nigerian traders.
👉 Popular MetaTrader cryptocurrency broker HF Markets also has an in-house trading app for iOS and Android users.
Best ECN Broker in Nigeria
Overall Rating
- 4.1/5
Min Deposit
USD 10 / 4145 NGN
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradingView
Crypto
No
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Trading margined products carries a high level of risk. Pepperstone Markets Kenya Limited, CMA Licence No. 128
👉 Overall, Pepperstone is the best ECN Broker in Nigeria. One of the biggest forex and CFD brokers in the world, Pepperstone provides services in more than 170 nations.
👉 Nigerian traders should anticipate among of the quickest transaction execution times with little to no slippage and no requotes.
Best Islamic / Swap-Free Broker in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 0 / 0 NGN
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, OANDA is the best Islamic / Swap-Free Broker in Nigeria. Three different retail accounts are available from OANDA. This includes a specific Islamic account that is provided to Muslim traders in Nigeria who adhere to Sharia law.
Best Trading App in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 5
Regulators
FSC, FSCA (south africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, WebTrader, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
250
Islamic Account
Yes
Trading Fees
Low
Welcome Bonus
100% Deposit Bonus
Account Activation Time
Instant
👉 Overall, FBS is the best trading app in Nigeria. FBS provides its cryptocurrency account through the FBS Trader. Many features and some of the greatest market analyses are available to Nigerians.
Best Nigerian Naira Trading Account Broker in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 4145 NGN
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MT4, MT5, MT4 WebTerminal, mobile (iOS & Android, Exness Trader)
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Exness is the best Nigerian Naira trading account Broker in Nigeria. One of the top multi-currency brokers that provide accounts in NGN is Exness. Exness is a broker that only works with MetaTrader and has a limited selection of trading options.
Best Lowest Spread Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 200 / 82900 NGN
Regulators
ASIC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, IC Markets is the best lowest spread Broker in Nigeria. IC Markets provides some of the narrowest spreads in the market because of its pure ECN execution mechanism.
👉 Nigerian traders can choose from a variety of crypto CFDs at IC Markets, which offers services to traders all over the world.
Best NDD Broker in Nigeria
Overall Rating
- 4.5/5
Min Deposit
USD 5 / 2 075 NGN
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Crypto
No
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
👉 Overall, XM is the best NDD Broker in Nigeria. XM is a well-known No-Dealing Desk broker that offers services to over 2.5 million traders worldwide. A portion of XM’s broad selection of more than 1,000 financial products includes cryptocurrency CFDs.
Best STP Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41450 NGN
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Tickmill is the best STP Broker in Nigeria. One of the finest brokers for new traders in Nigeria is Tickmill, which provides outstanding STP and ECN execution along with clear trading costs.
Best Sign-up Bonus Broker in Nigeria
Overall Rating
- 4.5/5
Min Deposit
USD 1 / 415 NGN
Regulators
IFSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
300
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, SuperForex is the best sign-up bonus Broker in Nigeria. One of the brokers with the broadest selection of promos and incentives is SuperForex, which provides customers with a choice of 11 trading accounts.
Conclusion
👉 Now that Nigerians are more aware of the greatest Bitcoin trading platforms, they can make an informed decision on which platform is more suited to their unique needs and objectives.
👉 To ensure that they can trade Bitcoin safely, Nigerian traders must ensure that they thoroughly evaluate and test a platform using a demo or trial account before they sign up and commit capital.
FAQ
How do I open a crypto exchange account?
Every cryptocurrency exchange has its own registration procedure. With certain exchanges, you may be able to create an account and purchase and sell modest quantities of cryptocurrency without authenticating your identity or providing a great deal of personal data.
Is it safe to do Bitcoin trading?
If you take the necessary precautions to keep your capital safe, it can be a safe venture to trade Bitcoin through a crypto trading platform.
Can Bitcoin be converted to cash?
Yes, Bitcoin can be converted to cash by using a cryptocurrency exchange such as Coinbase, Binance, Gemini, or Kraken, you may convert Bitcoin to cash.
Is Bitcoin real money?
Bitcoin is decentralized digital money that can be purchased, sold, and exchanged directly, without a go-between such as a bank. There are currently only two countries in the world that accept Bitcoin as legal tender, namely El Salvador and the Central African Republic.
Where does my money go when I buy Bitcoin?
When you purchase or transfer cryptocurrencies, your funds are deposited into your digital wallet (account) to finance the currency, or virtual tokens, through an exchange like Coinbase or Gemini.
All transactions are then validated using a peer-to-peer network of computers that engage in the mining or verification process.
Top 4 Brokers
