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6 Best Crypto Trading Platforms in Nigeria

The 6 Best Crypto Trading Platforms in Nigeria revealed. We tested and verified the best crypto trading platforms for Nigerian Traders.

This is a complete list of crypto trading platforms in Nigeria.

In this in-depth guide you’ll learn:

  • What is a crypto trading platform?
  • What is the best crypto exchange?
  • Who are the top Crypto brokers in Nairaland?
  • Which crypto platforms can you use and invest in Nigeria?
  • Does Coinbase work in Nigeria?
  • How and can I trade forex with $5 (2 096 NGN)?
  • Which brokers offer a signup bonus on a $5 deposit?


And lots more…

So if you’re ready to go “all in” with the best-tested crypto trading platforms for Nigerians…

Let’s dive right in…

Updated : September 1, 2022

6 Best Crypto Trading Platforms in Nigeria (2022)

  1. Binance
  2. FTX

What is the purpose of a Crypto Platform?

👉 To purchase and sell cryptocurrencies directly (not as CFDs), you will need to go to a crypto exchange. Trading services are not the only service offered by crypto exchanges, but they also provide trading tools, analysis, trading information, and storage for crypto.

 

👉 Only persons who could mine or organize online and offline transactions could get cryptocurrencies before crypto exchanges. There are already hundreds of crypto exchanges that provide a wide variety of digital assets, as well as varying degrees of security and fees.

1. Gate.io

Gate.io

Overview

👉 Gate.io is a Bitcoin exchange platform that facilitates the trade of BTC, LTC, Ethereum, Qtum, and more blockchain assets. Within a few years, the exchange acquired global prominence and is today operational in most countries.

 

👉 In addition to supporting over 1,455 tradable cryptocurrencies and over 2,430 marketplaces, the platform allows spot trading and margin trade. Investor services have also been extended to include ETF, Options, futures, and derivatives markets.

 

👉 Gate.io is an exchange that dates to the earliest days of cryptocurrency. It was founded in China in 2013 under the name Bter, then in 2017, it was relaunched as Gate.io.

 

👉 In terms of trading volume, Gate.io is one of the top 10 exchanges in the world, presently occupying the sixth position.

 

👉 In the early days of cryptocurrency, Gate.io was one of the crypto platforms with the most rapid growth, and it was also one of the first to provide services other than cryptocurrency trading.

 

👉 After being expelled from China owing to regulatory concerns, the platform concentrated on establishing operations and registering in Virginia, United States, until US rules compelled them to relocate to the Cayman Islands, where they are presently based.

 

👉 In 2019, Gate.io raised $64 million in an ICO for their exchange token and used the proceeds to improve the platform, which currently offers several trading options to compete with Binance and KuCoin.

 

👉 Gate.io is well-known for cryptocurrency and derivatives trading, particularly among traders who use leverage. Gate.io is an excellent platform for traders seeking a variety of goods and marketplaces since it offers buying, selling, trading, earning, mining, NFTs, and bot trading, among other activities.

 

👉 It is a powerful trading platform suited for experienced and professional traders, as well as novices who are willing to through a learning curve.

 

Features and Information

Platform CriteriaInformation
💻 Exchange Score7.1
✔️ Market Ranking#7
⏰ Average Trading Volume (24h)US$1,205,066,382
💧 Average Liquidity525 BTC
🗣 Average Regular Visitors (Weekly)2,658,869
✅ Markets Offered2,430
✔️ Coin Offering1,455
👍 Fiat Currency SupportedKRW, EUR

 

Pros and Cons

✔️ Pros ❌ Cons
Gate.io offers over 2,400 markets that can be traded in addition to 1,455 coins, with more being added frequently.The exchange is unregulated.
There is a robust mobile application offered.The exchange could be very confusing for new beginners without prior exposure to crypto or crypto trading platforms.
Gate.io offers Nigerians a range of unique features such as spot trading, margin trading, and more.
The exchange is secure and there is a robust KYC process.
Customer support operates 24/7.

2. Kraken

Kraken

Overview

👉 Kraken is one of the earliest exchanges in the crypto sector, and CEO Jesse Powell identified Kraken Exchange as a viable alternative for the once-dominant exchange Mt. Gox upon its founding in 2013.

 

👉 Mt. Gox’s bankruptcy in 2014 cleared the door for other cryptocurrency exchanges like Kraken to acquire market dominance. Kraken is a fully operational cryptocurrency exchange with minimal costs and a diverse coin offering.

 

👉 Kraken, one of the world’s biggest and oldest exchanges, was established in 2011 and opened in 2013. Since its inception, it has prioritized security. The fact that it has not been hacked for the last nine years speaks for itself.

 

👉 Kraken has been in business for many years, and throughout that time it has garnered a reputation as a trustworthy location that is often selected by traders and institutional investors.

 

👉 It was the first cryptocurrency exchange to pass the Proof-of-Reserves cryptographic audit, and it supplies Bloomberg Terminal with information on the price of cryptocurrencies on the market.

 

👉 Kraken is a self-regulated exchange that adheres to all applicable norms and regulations in all supported countries. Kraken provides a comprehensive selection of trading options, ranging from the standard limit and stop-loss orders to a dark pool and leveraged trading.

 

👉 It facilitates trading not just between cryptocurrency pairings but also between fiat currencies (e.g., pounds, euros), making it an effective gateway from fiat to cryptocurrency.

 

👉 One of Kraken’s greatest advantages is its low fees. Except for the deposit and withdrawal fees, all charges are made per transaction. Kraken utilizes a standard maker-taker fee structure depending on the cryptocurrency being traded and the volume a user has transacted over the last 30 days.

 

👉 There are four diverse types of trading costs including ordinary trading fees, trading fees for stablecoins, trading fees for dark pools, and margin trading fees.

 

👉 The standard trading costs are 0.16% for makers and 0.26% for takers, but they could be as low as 0.00% (maker) and 0.10% (taker) for customers who trade more than USD 10,000,000 each month.

 

Features and Information

Platform CriteriaInformation
💻 Exchange Score7.5
✔️ Market Ranking#4
⏰ Average Trading Volume (24h)US$420,174,800
💧 Average Liquidity722 BTC
🗣 Average Regular Visitors (Weekly)1,619,546
✅ Markets Offered602
✔️ Coin Offering197
👍 Fiat Currency SupportedUSD, EUR, GBP, and several others

 

Pros and Cons

✔️ PROS❌ CONS
Kraken has low and competitive feesFunding can be tedious and time-consuming
There are several built-in security features on the app
There is a wide range of crypto trading options offered via the app

3. KuCoin

KuCoin

Overview

👉 Due to its user-friendly interface and a high degree of security, KuCoin, a young cryptocurrency exchange, has swiftly gained a devoted following.

 

👉 The exchange features a considerable number of different cryptocurrency pairings, allowing customers to acquire a broad range of cryptocurrencies.

 

👉 Kucoin is a crypto-only exchange, thus if you want to acquire coins using fiat money such as HKD, USD, or CAD, you will need to use another exchange.

 

👉 Kucoin is positioned as a genuinely global enterprise, with offices in Hong Kong, Singapore, and Seychelles. It has a good reputation within the cryptocurrency industry and is frequently referred to as “The People’s Exchange.”

 

👉 KuCoin provides over 700+ tradable coins with minimal fees of around 0.1%. If you pay using KCS currency, you gain a 20% discount, and high-volume traders have access to further cost reductions.

 

👉 Users of KuCoin will appreciate the many trading options, including spot trading, margin trading, P2P trading, and futures trading. Lending and borrowing crypto is another function offered to users. KuCoin’s trading costs are comparable to those of the market leader, Binance.US.

 

👉 In addition, investors might earn a discount depending on their average monthly KCS holdings or the previous month’s trading volume. If customers pay with KCS, they may reduce costs by an additional 20%.

 

👉 KuCoin, like other cryptocurrency exchanges, features a maker/taker fee structure, which means that you pay varying costs based on whether your order is deemed a maker or a taker.

 

👉 Makers provide liquidity on an exchange by submitting fresh open orders for others to fill. Takers, on the other hand, limit liquidity by fulfilling maker orders.

 

👉 You cannot anticipate whether your order will be a maker or a taker, thus it is unlikely that you will know your precise costs in advance. KuCoin provides its own Ethereum-based token, KuCoin Token (KCS).

 

👉 The ownership of KCS entitles KuCoin users to trade fee savings and a daily share of KuCoin’s trading fee earnings. Users must own at least six KCS tokens to qualify.

 

👉 Even though KCS is undeniably one of the benefits of utilizing the KuCoin platform, it is essential to remember that KCS is a volatile cryptocurrency and that you are not guaranteed a steady coin price.

 

Features and Information

Platform CriteriaInformation
💻 Exchange Score7.3
✔️ Market Ranking#5
⏰ Average Trading Volume (24h)$655,628,354
💧 Average Liquidity554 BTC
🗣 Average Regular Visitors (Weekly)2,864,323
✅ Markets Offered1,354
✔️ Coin Offering727
👍 Fiat Currency Supported47 including USD, AED, and others

 

Pros and Cons

✔️ Pros ❌ Cons
KuCoin offers an attractive selection of cryptocurrencies that can be traded.KuCoin is not licensed in all areas.
There are competitive trading fees and Nigerians get volume discounts on their fees.Funds are kept on the platform and there is no insurance on these funds.
There are advanced features offered like margin trading as well as futures trading.KuCoin experienced a successful hack in 2020.
Credit and debit cards are accepted for crypto purchases.

4. Binance

Binance

Overview

👉 Binance is the world’s biggest cryptocurrency trading platform. Due to its extensive array of trading choices and capabilities, it is not especially user-friendly. Binance may have a high learning curve for investors, depending on their level of expertise and education.

 

👉 Binance’s desktop and mobile dashboards provide access to a vast variety of trading capabilities, including an astonishing selection of market charts and hundreds of cryptocurrencies.

 

👉 Additionally, users have access to a few trading alternatives, including futures and options, as well as a few order types.

 

👉 In addition to its tools and features, Binance provides users with access to a complete learning platform, as well as an NFT platform and other services.

 

👉 Binance is the world’s biggest cryptocurrency exchange by trading volume, but it faces regulatory concerns in a few nations. In the United States, officials are now investigating charges of money laundering and tax violations. Additionally, the site has been prohibited in several nations.

 

👉 Binance’s diversity may appeal to seasoned traders, but newcomers may find the platform’s various features overwhelming. Moreover, its continuing investigations and expanding list of regulatory difficulties is another cause for worry.

 

👉 Binance provides its users with a wide range of trading tools, such as real-time charting tools that include moving averages as well as exponential moving averages. Users may execute transactions using the Binance app, website, and desktop application.

 

👉 The Binance interface also allows traders to access their portfolios and transaction histories, as well as examine the order book and price charts.

 

👉 In addition, Binance enables users to place orders in several distinct formats, including stop orders, limit orders, stop-limit orders, stop-market orders, and trailing stop orders. You may also choose from other trading perspectives, including traditional, margin, and OTC.

 

👉 Binance is known for having some of the lowest fees in the industry. While US-based customers will pay more on Binance.US, the platform’s costs are still far cheaper than those of other top exchanges.

 

👉 Binance has a maker/taker fee system, with costs varying according to trade volume and Binance Coin (BNB) balance. In general, bigger volume transactions incur cheaper transaction costs.

 

Features and Information

Platform CriteriaInformation
💻 Exchange Score9.9
✔️ Market Ranking#1
⏰ Average Trading Volume (24h)US$15,948,394,708
💧 Average Liquidity854 BTC
🗣 Average Regular Visitors (Weekly)20 million+
✅ Markets Offered1,684
✔️ Coin Offering393
👍 Fiat Currency Supported46 including USD, AUD, AED, etc.

 

Pros and Cons

✔️ PROS❌ CONS
Binance is known for its ultra-low feesBinance 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. Coinbase

Coinbase

Overview

👉 Coinbase is one of the world’s largest cryptocurrency exchanges, with an unrivalled trading volume and a longstanding reputation for industry-leading security.

 

👉 Coinbase is a marketplace for buying, selling, and exchanging over 200 tradable cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin.

 

👉 Coinbase is a massive firm with over 98 million customers and over $256 billion worth of assets stored on its platform.

 

👉 For basic buy and sell orders, the traditional Coinbase platform will be preferred by beginners. Coinbase Pro provides sophisticated users with access to extra tools and order types. Coinbase Pro is accessible to all Coinbase users.

 

👉 Cryptocurrencies are a new asset class that may be dangerous and volatile, making them unsuitable for many investors. However, if you are interested in cryptocurrencies, Coinbase is an excellent choice for both beginners and experts.

 

👉 Coinbase has users in over 100 countries, and consumers exchange over $309 billion every quarter. 13,000 financial institutions are supported by Coinbase’s extensive bitcoin ecosystem.

 

👉 Coinbase has three distinct trading platforms in addition to a bitcoin wallet service. Coinbase’s array of solutions is likely to provide all you need to launch and maintain a bitcoin portfolio or trading strategy.

 

👉 Coinbase employs best-in-class security measures to safeguard user deposits and assets. Nevertheless, there are always certain hazards associated with bitcoin use, therefore it is vital to adhere to online best practices to protect your account information.

 

👉 Notably, 98% of client assets are held offline utilizing cold storage in a global network of safe deposit boxes, with digital and paper backups.

 

👉 The website employs bank-grade encryption and security. In addition, all accounts must have two-factor authentication, a security mechanism that helps prevent unauthorized access to your account unless someone has physical access to your phone.

 

Features and Information

Platform CriteriaInformation
💻 Exchange Score7.9
✔️ Market Ranking#3
⏰ Average Trading Volume (24h)US$ 1,625,080,393
💧 Average Liquidity681 BTC
🗣 Average Regular Visitors (Weekly)1.9 million+
✅ Markets Offered573
✔️ Coin Offering209
👍 Fiat Currency SupportedUSD, EUR, GBP

 

Pros and Cons

✔️ PROS❌ CONS
There are many trading options offered by Coinbase along with a vast range of coinsThere are extremely expensive fees
Funds on Coinbase are insuredThere are some restrictions on alternative coins offered
The mobile app is critically acclaimed as one of the best in the industry

6. FTX

FTX

Overview

👉 FTX is a Hong Kong-based crypto derivatives exchange formed by Gary Wang and Sam Bankman-Fried. In addition to being incorporated in Antigua and Barbuda, it also has a California-based US-facing subsidiary, FTX.US.

 

👉 In 2018, the firm began operations as a crypto derivatives exchange created by traders for traders. FTX was incubated by Alameda Research, one of the most prominent sources of cryptocurrency liquidity.

 

👉 It provides quarterly and perpetual futures of all major cryptocurrencies, as well as leveraged tokens and over-the-counter trading. Since its founding, FTX has completed one purchase.

 

👉 It purchased Blockfolio, a company that provides mobile portfolio monitoring and management for the bitcoin and blockchain industries. The transaction was finalized on August 25, 2020, for a total of $150 million.

 

👉 In addition to the transaction, FTX has invested in four other firms. These four companies, namely Circle, Solidus Labs, OIN Finance, and 1inch Limited, have all established themselves as leaders in their respective market niches.

 

👉 FTX futures facilitate transactions in over 250 perpetual and quarterly futures markets. Bitcoin, Ethereum, Dogecoin, Litecoin and more are all supported by this wallet. XRP, Litecoin and more are also supported.

 

👉 On top of that, the exchange offers more than 100 spot markets for various cryptocurrencies such as the Bitcoin and Ethereum blockchains as well as the Tether virtual currency. FTX’s leveraged tokens are ERC20 assets that provide the user with leveraged exposure to crypto markets.

 

👉 For instance, 3X long or short exposures are available on assets such as Ethereum, Bitcoin, Compound, Dogecoin, Matic, and Sushi, among others. The FTX Pro app may be downloaded from both the iOS app store and the Google Play Store.

 

👉 You can use the application to execute trades anywhere, at any time. Using FTX Pro, you may take advantage of the Bull, Bear, and Hedge tokens that can automatically manage their exposure, and rebalance to maintain their target leverage and avoid liquidations.

 

👉 FTX provides a variety of API integration options. You may pick between comprehensive REST, WebSocket, and FIX APIs based on your algorithmic trading requirements. On FTX exchange’s GitHub website, you can get code samples for each of these API choices.

 

Features and Information

Platform CriteriaInformation
💻 Exchange Score8.1
✔️ Market Ranking#2
⏰ Average Trading Volume (24h)US$1,650,286,393
💧 Average Liquidity731 BTC
🗣 Average Regular Visitors (Weekly)4,775,720
✅ Markets Offered420
✔️ Coin Offering285
👍 Fiat Currency SupportedUSD, EUR, GBP, and several others

 

Pros and Cons

✔️ Pros ❌ Cons
FTX offers Nigerians access to over 280 coins that can be traded in addition to several trading options such as futures, spot trading, leveraged tokens, and more.Leveraged tokens offered by FTX increase traders’ exposure to risk and eventual loss.
The platform supports a range of fiat currencies including USD, EUR, GBP, and more.
If you hold FTT tokens you gain access to rebates and staking opportunities.

How to Choose the Right Crypto Trading Platform

How to Choose the Right Crypto Trading Platform

👉 Trading cryptocurrencies is difficult. Using a cryptocurrency platform can make your life much simpler. However, since there are so many possibilities, including several that have just been for a few years, selecting the best one requires attention.

 

👉 Here are seven important considerations before Nigerians choose a crypto platform.

 

Robust Security

👉 It is no secret that cryptocurrency exchanges are prone to hacking, and one of the most well-known early exchanges, Mt. Gox, shut down in 2014 after $460 million in user funds were stolen.

 

👉 Most cryptocurrency exchanges include fundamental security measures like two-factor authentication, often employing Google Authenticator or Authy applications to provide a line of defence against phishing schemes or other forms of crypto theft.

 

👉 However, you can also keep an eye out for extra precautions. Today, more platforms enable biometric login, which verifies your identity using your smartphone’s face and fingerprint recognition.

 

👉 Major exchanges like Kraken and Gemini require you to provide government-issued documentation, such as a passport or driver’s license, when you register a new account to increase security and deter imposters.

 

👉 When you purchase or sell, alter financing levels, or make significant account adjustments like freezing your account, they also have extra layers of codes that must be validated.

 

Range of Coins

👉 Due to the rising popularity of cryptocurrencies, there are presently more than 20,000 distinct coins available.

 

👉 Make sure your exchange offers the digital assets you seek since not all exchanges do. Consider if you like a simpler or more complex menu and whether your main interests are Bitcoin, Ethereum, and the few popular DeFi tokens that power smart contracts.

 

👉 Large, well-known exchanges like Coinbase, Huobi Global, Gate.io and Kraken are excellent places to start since they provide a vast selection of currencies and tokens that can suit many Nigerian investors, from novices to seasoned traders.

 

Competitive Fees

👉 Cryptocurrency exchanges often charge a fee each time you deposit, trade, or withdraw money. Depending on the kind of transaction and your payment method, fees per trade might vary from 0% to 5%.

 

👉 The percentage that you pay often decreases as the amount of your transactions grows, and fee levels are typically dependent on your overall trading volume during a 30-day trading period.

 

Enough Liquidity

👉 Finding an exchange with liquidity – the ability to quickly convert your cash into coins, or vice versa – without incurring a significant markup, is crucial. This is particularly relevant given how quickly values fluctuate in the realm of digital assets.

 

👉 You will want to know if your purchase order is completed fast and at a price that is like the one you see quoted on your screen when the price of a coin you want to acquire is rising drastically and quickly.

 

👉 Looking at an exchange’s trade volume is the simplest method to identify this, and the larger the volume, the better.

 

👉 Additionally, you should search for a reputable exchange, which has a record of accomplishment of at least five years and goes to great lengths to demonstrate that it owns the assets it claims to hold on your behalf.

 

Find out about Insurance

👉 A cryptocurrency exchange’s first goal should always be maintaining strong digital security measures to stop hackers from stealing consumer funds.

 

👉 The excellent ones, though, will continue to maintain a sound insurance plan just in case. Nowadays, many exchanges have business crime insurance, which usually protects against dishonesty, theft, robbery, damage, and cybercrime.

 

👉 Gemini has $290 million in digital asset insurance on hand for certain losses. However, insurance differs significantly across exchanges, so it is critical to understand what they cover.

 

👉 You may find this information in the user agreement that you get upon sign-up and regularly in the FAQ sections on exchange websites.

 

Evaluate Tax Reporting

👉 Nigerians are required to file income tax returns under the Income Tax Act. Subsequently, any earnings and gains from trading or investing in cryptocurrencies, including Bitcoin, must be included in one’s taxable income for the year in which they were realized.

 

👉 Therefore, to determine if tax forms will be delivered to you, you must search “crypto taxes” on the exchange’s or platform’s website or contact customer care.

The Best Crypto Brokers in Nigeria

👉 In this article, we have listed the best brokers that offer crypto assets to traders in Nigeria. We have further identified the brokers that offer additional services and solutions to Nigerian traders.

 

Best Crypto Broker for beginners in Nigeria

Overall Rating

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 Crypto broker for beginners in Nigeria. AvaTrade is one of the authentic FX and CFD brokers and an award-winning, highly regulated broker with over 300,000 registered traders and monthly trading volumes of over $70 billion.

 

👉 AvaTrade provides user-friendly search features, instructional resources, and research instruments for everyday market analysis.

 

Best Low Minimum Deposit Crypto Broker in Nigeria

Overall Rating

Min Deposit

USD 1 (415 NGN)

Regulators

IFSC, FSCA (south africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading pltform, CopyTrade

Crypto

Yes

Total Pairs

250

Islamic Account

Yes

Trading Fees

Low

Welcome Bonus

$140 (58 116 NGNFind out More)

Account Activation Time

Instant

👉 Overall, FBS is the best Low Minimum Deposit Crypto Broker in Nigeria. FBS has millions of customers from over 190 countries worldwide. FBS gives access to over 75 trading instruments for purchase and sale. The minimum deposit required by FBS is $1 or 400 NGN.

 

👉 Using the ECN and STP brokerage models, the broker does not trade against you or take the opposing position, as a market maker broker would.

 

Best ECN Crypto Broker in Nigeria

Overall Rating

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 ECN Crypto broker in Nigeria. Tickmill is a standard MetaTrader broker that provides a restricted variety of stocks for trading.

 

👉 Tickmill provides three levels of incentives for active traders, beginning at $0.25 per regular lot. Tickmill provides excellent ECN and STP trade executions with prices gathered from the leading liquidity sources.

 

Best Islamic / Swap-Free Crypto Broker in Nigeria

Overall Rating

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

on SuperForex’s website

👉 Overall, SuperForex is the best Islamic / Swap-Free Crypto broker in Nigeria. The fact that both STP and ECN Islamic accounts from SuperForex conform with Sharia law by being swap-free offers the broker an alternative for Muslim traders.

 

👉 SuperForex is an online forex broker that offers over 400 different trading products.

 

Best Crypto Trading App in Nigeria

Overall Rating

Min Deposit

USD 10 / 4145 NGN

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

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 Crypto trading app in Nigeria. Exness supports two Metatrader trading platforms, produced by MetaQuotes Software Company: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

 

👉 Exness also provides customers with an app for Android and iOS that can be used for trading and account management.

 

Best Naira Trading Account Crypto Broker in Nigeria

Overall Rating

Min Deposit

USD 5 / 2073 NGN

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, HF Markets is the best Naira trading account Crypto broker in Nigeria. HF Markets is a multi-regulated, socially responsible online broker that provides accounts denominated in NGN across multiple platforms.

 

👉 The platforms are simple enough for novice traders while yet providing enough capacity for the most demanding traders.

 

Best Lowest Spread Crypto Broker in Nigeria

Overall Rating

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 Crypto broker in Nigeria. IC Markets is the biggest pure ECN trading broker in the world, allowing you to trade with spreads as low as 0 pips.

 

👉 Additionally, IC Markets provides extensive liquidity from a variety of liquidity providers, ensuring that you can always execute trades quickly and at the cheapest pricing.

 

Best NDD Crypto Broker in Nigeria

download

Overall Rating

Min Deposit

USD 100 / 41459 NGN

Regulators

CySec, ASIC, FCA, BVI FSC, FSCA

Trading Desk

MetaTrader 4, MetaTrader 5, Markets.com propietary platform

Crypto

Yes

Total Pairs

67

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Markets.com is the best NDD Crypto broker in Nigeria. Markets.com is an established and registered broker that provides you with free access to powerful trading tools.

 

👉 You can trade online using Markets.com’s award-winning trading platform, which provides a plethora of features that can be tailored to your specific requirements.

 

Best STP Crypto Broker in Nigeria

Xm.com Logo 1 1024x514 1

Overall Rating

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 STP Crypto broker in Nigeria. Over 300 Professionals are presently subscribed to XM, indicating the firm’s popularity within this demographic. Popularity is attributable to XM’s strong liquidity and excellent STP execution in milliseconds.

 

Best Sign-up Bonus Broker in Nigeria

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on RoboForex’s website

👉 Overall, RoboForex is the best sign-up bonus broker in Nigeria. RoboForex credits a $30 welcome bonus to Pro-Cent and Pro-Standard account holders.

 

👉 The Standard and Cent customers have additional leverage of a 60% Profit Bonus. In addition, customers of these accounts may earn up to 120% bonus credit via the Classic Bonus plan.

Conclusion

👉 A cryptocurrency exchange is a marketplace where cryptocurrencies such as Bitcoin, Ether, and Dogecoin may be bought and sold. Cryptocurrency exchanges function similarly to other trading platforms with which you may be aware.

 

👉 They provide accounts via which you may establish various order types to buy, sell, and speculate on the cryptocurrency market. There are several factors to consider while selecting a cryptocurrency exchange, including security, costs, and available coins.

 

👉 Nigerian traders must understand their own trading needs and requirements, allowing them to select an appropriate trading platform.

FAQ

Is Binance supported in Nigeria?

Yes, Binance is supported in Nigeria and has a robust account verification process specifically for Nigerian traders. This was implemented to combat money laundering incidents that occurred early in 2022.

 

Does KuCoin work in Nigeria?

Yes, KuCoin welcomes Nigerian traders.

 

Is cryptocurrency legal in Nigeria?

Cryptocurrency is not illegal but is not supported by the Central Bank of Nigeria, which initially banned financial institutions from dealing with digital currency.

However, the capital markets regulatory body released new laws to govern the issue, exchange, and custody of cryptocurrency in May.

 

Can Binance freeze my account?

Yes, Binance can freeze your account if there is any suspicious activity that occurs in line with any security policies.

 

Can I withdraw from KuCoin without verification?

Yes, you can. However, you will be limited to withdrawals up to 5 BTC without verification.

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