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7 Best cTrader Brokers for Retail Traders in Nigeria

The 7 Best cTrader Forex Brokers in Nigeria revealed. We tested and verified the best cTrader forex brokers with fast entry and execution for Nigerian Traders.

This is a complete list of cTrader forex brokers in Nigeria.

In this in-depth guide you’ll learn:

  • What is cTrader? 
  • Who are the best cTrader brokers in Nigeria?
  • How to choose a forex brokerCompare them side by side by fast entry, best scalping conditions, and best for fast execution.
  • Which broker is the best for your trading styles?
  • Which broker offers a sign-up bonus to first-time traders?
  • What is the difference between cTrader and MetaTrader4?


And lots more…

So if you’re ready to go “all in” with the best-tested cTrader forex brokers for Nigerians…

Let’s dive right in…

Updated : June 20, 2022

👉 Definition: cTrader is a complete trading platform solution for Forex and CFD brokers to offer their traders. The platform is packed with a full range of features to cater to each and every investment preference imaginable.

Best cTrader Brokers for Retail Traders in Nigeria – Comparison

🏛️ Broker✔️ cTrader Broker?💵 Minimum Deposit (₦)💵 Nigerian Naira-based Account?💰 NGN Deposits Allowed?👉 Open Account
1. PepperstoneYes60,700 NGNYesYes👉 Open Account
2. IC MarketsYes83,000 NGNNoNo👉 Open Account
3. RoboForexYes4,100 NGNYesNo👉 Open Account
4. OctaFXYes41,500 NGNNoNo👉 Open Account
5. FXProYes41 453,00 NGNNoYes👉 Open Account
6. FP MarketsYes30,800 NGNYesNo👉 Open Account
7. AxioryYes41 453,00 NGNNoYes👉 Open Account

7 Best cTrader Brokers for Retail Traders in Nigeria (2022)

  1. Pepperstone – Overall, Best cTrader Broker
  2. IC Markets – #1 Scalping Broker for Nigerians
  3. RoboForex – Top cTrader Copy Trading Broker
  4. OctaFX – Low Commission-Free Forex Broker in Nigeria
  5. FxPro – Fastest Execution Broker
  6. FP Markets – True ECN Forex Broker
  7. Axiory – Super Tight Spread Forex Broker for Nigerians

1. Pepperstone

 

Overall Rating

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

 

Overview

👉 A relatively new broker, Pepperstone has swiftly become one of the top forex brokers in Australia (and the world), as evidenced by the numerous awards it has received, and Nigerian investors and traders have a great deal of respect for it.

 

👉 In addition to ECN access via cTrader, Pepperstone is one of the few forex brokers to provide DMA (Direct Market Access) implementation. Since the broker is regulated by both the FCA and ASIC, practically all forex traders have a high degree of confidence in this product.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
📲 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsStandard account, Razor Account, Professional Account,
📱 Trading PlatformMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade
💵 Minimum Deposit (₦)60,700 Nigerian Naira
💰 Trading Assets• Forex
• Cryptocurrencies
• Shares
• ETFs
• Indices
• Commodities
• Currency Indices
💸 Nigerian Naira-based Account?No
✔️ NGN Deposits Allowed?Yes
💰 Bonuses for Nigerian traders?No
📊 Minimum spreadfrom 0.0 pips
💻 Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Pepperstone ensures client fund security by keeping it in segregated accountsNigerian traders do not have a Naira-denominated trading account
Pepperstone is both a multi-regulated and multi-award-winning brokerThere are additional fees applied to the Islamic account
Pepperstone caters for all types of traders despite their trading experience or styleThere are some leverage restrictions
Well-regulated by some of the top market regulatory entities
Pepperstone accepts Nigerian traders and provides a plethora of educational material for beginners
There is a demo account and Islamic account offered
There are several funding options offered to traders
Deposit fees and withdrawal fees are not charged

 

Trust Score and Nigerian Market Share

👉 Pepperstone has a very high trust score of 92% and a market share of <5% in Nigeria.

2. IC Markets

 

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

 

Overview

👉 IC Markets is one of Australia’s fastest-growing forex brokers. As an ECN broker with headquarters in Sydney and operating offices around the world, IC Markets has a wide range of locations, including Vietnam and China, and now Nigeria.

 

👉 It is regarded as one of the world’s leading forex brokers. With a wide variety of trading platforms (including cTrader) and excellent customer service, IC Markets is an excellent choice for Nigerian traders.

 

👉 ASIC and CySEC, two of the most respected agencies in the forex sector, have both fully regulated them as leading forex broker.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, CySEC, FSA in Seychelles, and SCB
📲 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsStandard account, Razor Account, Professional Account,
📱 Trading PlatformcTrader, MT4 and MT5
💵 Minimum Deposit (₦)83,000 Nigerian Naira
💰 Trading Assets• Forex
• Commodities
• Indices
• Bonds
• Cryptocurrencies
• Stocks
• Futures
💸 Nigerian Naira-based Account?No
✔️ NGN Deposits Allowed?No
💰 Bonuses for Nigerian traders?No
📊 Minimum spreadfrom 0.0 pips
💻 Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
IC Markets is reputable and well-regulated, offering a safe environment and investor protectionThe initial deposit is higher than other brokers
The broker is compliant with regulatory requirementsThere may be a conversion fee charged
IC Markets offers a wide range of tools, technical indicators, trading ideas, and comprehensive trading services.United States traders, amongst some other regions, are not accepted
The broker accepts all trading strategies including automated trading strategies, scalping, hedging, and so on.Fixed spread accounts are not provided
IC Markets is known for providing a safe, transparent trading experience through powerful desktop platforms, web terminals, and mobile trading platformsIC Markets does not have any proprietary trading platforms
There are several educational articles offered to beginner traders
Traders can expect deep liquidity and reliable trade execution
There is a transparent fee structure with low trading costs and competitive spreads
There is a wide range of tradable instruments offered

 

Trust Score and Nigerian Market Share

👉 IC Markets has a very high trust score of 85% and a market share of <5% in Nigeria.

3. RoboForex

 

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

 

Overview

👉 Despite the name, this broker does not offer automated trading services, but rather a wide range of Forex trading services, ECN business accounts (via cTrader), business accounts, extremely high leverage ratios (1000: 1), and extremely compelling Cent (cents) Accounts, suitable for any Nigerian traders wishing to learn about Forex trading.

 

Unique Features

FeatureInformation
⚖️ RegulationInternational Financial Services Commission (IFSC)
📲 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
🏛 CBN Regulation?No
💻 Trading AccountsPrime Account, ECN Account, R Stockstrader Account, ProCent Account, Pro Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, cTrader, R StocksTrader, RoboForex Terminals, CopyFX app
💵 Minimum Deposit (₦)4,100 NGN
💰 Trading AssetsForex, Stocks, Indices, Cryptocurrencies
💸 Nigerian Naira-based Account?No
✔️ NGN Deposits Allowed?Yes
💰 Bonuses for Nigerian traders?Yes
📊 Minimum spreadfrom 0.0 pips
💻 Demo AccountYes
☪️ Islamic AccountNo

 

✔️ Pros❌ Cons
Offers a massive range of tradable instruments across financial marketsUnited States clients, and some other regions, cannot register with RoboForex
Provides professional yet user-friendly trading platformsThere are no fixed spread accounts offered
Low initial deposit requirement on all account typesThere is no FCA, CySEC, FSCA, or other regulation with popular market regulators
There are several flexible account types with competitive trading conditions and transparent trading costsOffshore broker with offshore regulation
Offers a vast range of research tools to experienced tradersMarket Maker forex broker that can benefit from the losses of clients
Award-winning broker that ensures client fund protectionInactivity fee may apply to dormant accounts
Negative balance protection applied to all account typesWithdrawal fee charged on several payment options
RoboForex has obtained Verify My Trade, proving trade execution speeds
Comprehensive social trading platforms offered

 

Trust Score and Nigerian Market Share

👉 RoboForex has a trust score of 66% and an overall market share of <5% in Nigeria.

4. OctaFX

 

Overall Rating

Min Deposit

USD 25 / 10390 NGN

Regulators

FCA UK

Trading Desk

None

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 In addition to currency pairs, OctaFx offers trading in gold and silver. Using their trial accounts, Nigerian traders can participate in trading competitions that provide the chance to win real money. Many traders find their welcome bonus to be highly enticing.

 

Unique Features

FeatureInformation
⚖️ RegulationFinancial Services Authority in Saint Vincent and the Grenadines (SVG FSA), and Cyprus Securities and Exchange Commission (CySEC)
📲 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
🏛 CBN Regulation?No
💻 Trading AccountsMetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, cTrader
💵 Minimum Deposit (₦)41,500 Nigerian Naira
💰 Trading AssetsForex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies
💸 Nigerian Naira-based Account?No
✔️ NGN Deposits Allowed?No
💰 Bonuses for Nigerian traders?Yes
📊 Minimum spreadfrom 0.6 pips
💻 Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
OctaFX offers reliable, instant deposits and withdrawalsOffshore broker with tier-2 regulation, which is not ideal
The broker offers copy trading accounts through its proprietary trading appThere is a limited selection of trading instruments offered
Offers social trading opportunitiesThere is a limited selection between retail accounts
OctaFX is a broker that accommodates all types of traders in a transparent and safe trading environment from beginner traders, active traders and professionalsLimited options for base currencies on accounts
The trading conditions that OctaFX offers Nigerian traders are transparent and reasonable
Commission-free trading is offered on all retail investor accounts along with tight spreads
Offers an unlimited virtual trading account and an Islamic Account for Muslim traders
There is a range of advanced trading tools offered
OctaFX offers versatile and reliable payment methods for deposits and withdrawals

 

Trust Score and Nigerian Market Share

👉 OctaFX has a trust score of 61% and an overall market share of <5% in Nigeria.

5. FxPro

 

Overall Rating

Min Deposit

USD 100 / 41459 NGN

Regulators

CySec, FSCA, FCA

Trading Desk

FxPro Trading Platfrom

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 FxPro is a well-respected Forex broker with more than 870,000 customers in 173 countries, making it one of the largest in the market. Among the six asset classes offered by FxPro are forex, equities, indices, futures, metals, and energy. The firm’s execution model does not involve a dealing desk.

 

👉 Only 100 USD is required to open a live account with FxPro, however trading expenses are greater than with other brokers. The spreads for MetaTrader accounts start at 1.41 pips (EUR/USD) and 0.31 pips (EUR/USD) with a commission of 9 USD each round turn for Nigerian traders.

 

Unique Features

FeatureInformation
⚖️ RegulationFCA, CySEC, FSCA, DFSA, SCB
📲 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
🏛 CBN Regulation?No
💻 Trading AccountsMT4 Instant Account, MT4 Account (Market Execution), MT5 Account, cTrader Account, FxPro Edge Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5 and cTrader
💵 Minimum Deposit (₦)41 453,00 Nigerian Naira
💰 Trading AssetsForex, cryptocurrencies, energies, stock CFDs, futures, indices, metals
💸 Nigerian Naira-based Account?No
✔️ NGN Deposits Allowed?Yes
💰 Bonuses for Nigerian traders?No
📊 Minimum spreadfrom 0.3 pips
💻 Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
FxPro offers a broad range of tradable instruments.Limited protection at offshore entity.
FxPro offers competitive spreads.High recommended minimum deposit for Nigerian traders
FxPro provides fast order execution.FxPro Edge Platform is only available in the English language
With FxPro, Nigerian traders have multiple platforms available.Inactivity fee charged to Nigerian traders whose accounts go dormant
Nigerian traders have multiple account types available with FxPro
Third party tools available to Nigerian traders for more comprehensive analysis
Fast deposits and withdrawals available to Nigerian traders
Fixed and variable spread accounts which allow for more flexibility in pricing

 

Trust Score and Nigerian Market Share

👉 FxPro has a trust score of 90% and an overall market share of <5% in Nigeria.

6. FP Markets

 

Overall Rating

Min Deposit

USD 100 / 41450 NGN

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 FP Markets is a well-established CFD and FX broker. Over 10,000 CFDs are available, with spreads starting at 0.0 pip.

 

👉 Nigerian traders can profit from a vast liquidity pool of licensed financial institutions thanks to the broker’s direct access to its top liquidity suppliers. Diverse liquidity and aggressively competitive pricing can be found at FP Markets.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, CySEC
📲 Social Media Platforms• Instagram
• Facebook
• Twitter
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsMT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, MT4/5 Islamic Raw Account
📱 Trading PlatformcTrader, MT4 and MT5
💵 Minimum Deposit (₦)30,800 NGN
💰 Trading Assets• Forex
• Shares
• Metals
• Commodities
• Indices
• Cryptocurrencies
• Bonds
💸 Nigerian Naira-based Account?No
✔️ NGN Deposits Allowed?Yes
💰 Bonuses for Nigerian traders?No
📊 Minimum spreadfrom 0.0 pips
💻 Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
FP Markets is a well-regulated broker that has a high level of trustworthinessThere are no fixed spread accounts offered
There is a wide range of markets that can be traded across asset classesThere is no dedicated Naira account offered to Nigerian traders
There are powerful trading platforms supported across devicesThere are withdrawal fees charged
Nigerian traders receive an ECN pricing model with raw and tight spreadsThere are administration fees charged on the Islamic Account
There is guaranteed fast trade execution through the Equinix servers
Commission-free trading is provided
There is a dedicated Islamic account option for Muslim traders
There are no inactivity fees charged on dormant accounts
Copy-trading and automatic trading is offered

 

Trust Score and Nigerian Market Share

👉 FP Markets has a high trust score of 81% and a market share of <5% in Nigeria.

7. Axiory

 

Overall Rating

Min Deposit

10 USD / 4145 NGN

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Low minimum deposit requirements and excellent training resources make Axiory a popular choice for novice Nigeriant traders who want to get started in the financial markets.

 

👉 With Axiory’s educational and market analysis products, novice traders will find a lot of value. There are bi-weekly webinars led by industry professionals, and Axiory’s trading academy provides courses, articles, and tutorials.

 

Unique Features

FeatureInformation
⚖️ RegulationIFSC, FSC
📲 Social Media Platforms• Instagram
• Facebook
• Twitter
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsNANO, Standard, MAX, Terra and Alpha
📱 Trading PlatformMT4, MT5, cTrader, CopyTrade
💵 Minimum Deposit (₦)4 145,30 Nigerian Naira
💰 Trading AssetsForex pairs, Stocks, ETFs, Metals, Energies, CFD indices and Stock CFDs
💸 Nigerian Naira-based Account?No
✔️ NGN Deposits Allowed?No
💰 Bonuses for Nigerian traders?No
📊 Minimum spreadfrom 0.0 pips
💻 Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Wide variety of trading platforms from which Nigerian traders can chooseDemo account has limited functionality
Very tight spreads availableHigh commission is charged on certain instruments
Fast withdrawals with no additional charges

 

Trust Score and Nigerian Market Share

👉 Axiory has a trust score of 76% and a market share of <5% in Nigeria.

Overview

👉 cTrader is a well-known trading platform in the financial trading industry. Spotware founders Andrey Pavlov and Ilya Holeu created it in 2010. Fast entry and execution, extensive charting tools, order types, level II pricing, and more are all features of this multi-asset CFD and Forex trading platform.

 

Top 10 Brokers in Nigeria

Broker

Rating

Regulators

Min Deposit

Leverage

Sign Up Bonus

Spreads

Website

1

9/10

FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC

$10

1:Unlimited

10%

0.1 pips

2

8/10

ASIC, FSA

$100

1:400

40 USD

0.91 pips

3

8/10

FSA, FCA, CySEC, FSCA

$100

1:20

30 USD

0.07 pips

4

8.7/10

CySEC, FSC, CFTC

$5

1:500

30 USD

1 pips

5

8.5/10

FSA, FSCA

$100

1:200

20 USD

0.9 pips

6

8.4/10

FSA, CySec

$1

1:3000

30 USD

0.3 pips

7

8.3/10

IFSC, CySEC

$100

1:3000

100 USD

0 pips

8

8.2/10

FSC, IFSC, MFSC

$10

1:400

50%

0.4 pips

9

8.1/10

IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA

$0

1:200

1000 USD

0.2 pips

10

8/10

CySec, FSC, FSA, BaFin, NFA

$100

1:200

30%

1.5 pips

Top 10 Brokers

Broker

Deposit

Leverage

Website

1

$10

1:Unlimited

2

$100

1:400

3

$100

1:30

4

$5

1:500

5

$100

1:200

6

$100

1:3000

7

$100

1:3000

8

$10

1:400

9

$0

1:200

10

$100

1:200

 

👉 cTrader’s user-friendly interface is accessible through web browser, phone, or download, and is a good option for Nigeria traders seeking an advanced trading software environment.

Understanding cTrader

Best Halal Trading Platform

👉 Multi-asset trading platform cTrader provides comprehensive charting capabilities, advanced order types, level II pricing and quick execution.

 

👉 It has a magnificent user interface, is linked to the most advanced backend technology, and can be accessed from a variety of different devices at the same time by Nigerian traders.

 

Chart trading with cTrader

Islamic Account

👉 cTrader’s charting and trading functions are integrated smoothly. Chart Trading in cTrader is quick and precise. To open orders with Stop Loss and Take Profit, traders can use QuickTrade settings to establish Market, Limit and Stop Orders.

 

👉 Orders and positions that have already been placed can be changed at any moment by dragging and dropping objects on the chart. Order tickets are completely omitted from the trading process thanks to this cutting-edge feature.

 

👉 There are a wide selection of charts to choose from. Line studies automatically change to the timeframe and zoom level for an in-depth or birds-eye view of currency price action.

 

👉 There is immediate access to all of the necessary technical analysis tools, including trend indicators and oscillators as well as volatility measures and line drawings. For example, there are more than 70 pre-installed indications and objects, including shapes and text.

 

Special trading features

Restrictions implied by Sharia Law

👉 There is a lot of information available to help investors manage risk and make better trading decisions with cTrader’s advanced trading capabilities, which include asynchronous order processing, level two pricing, advanced order types, and a wealth of information to support risk management.

 

👉 Directly from liquidity providers, cTrader offers the full range of executable prices. Volume Weighted Average Price (VWAP) is used to satisfy orders against the entire order book (VWAP).

 

👉 It is possible for Nigerian traders to activate Pending Orders or Stop Losses by the opposing side, the second consecutive price, and even the second consecutive opposite price, in order to defend against erroneous pricing.

 

👉 A position can be scaled out using Advanced Take Profit, Stop Loss, and Server Trailing Stops, all of which can be set to break-even.

 

👉 Two stop-out options are available in cTrader. A smart stop-out provides the highest possibility of recovery in the event that margin falls below the stop-out threshold. To keep the position and the entry point, the position with the highest margin will be partially closed.

 

👉 Margin, positions, and equilibrium are all safeguarded by this method. Instead, Fair Stop-Out terminates the greatest margin-taking position fully, rather than the most unprofitable position. In order to protect the remaining places, this strategy frees up as much room as feasible for Nigerian traders.

The Best cTrader brokers in Nigeria

Islamic Swap-Free Forex Brokers

👉 cTrader is an advanced trading platform that provides comprehensive charting capabilities and a wealth of trading features to Nigerian traders.

 

👉 However, not all Forex brokers offer access to the cTrader platform, which is why we have compiled this list of the best cTrader brokers available to Nigerian traders.

 

👉 This “10 Best” is a comprehensive study of the FX market done by our staff in March 2022. This article has guided more than 350 new traders in Nigeria in making informed trading decisions.

 

👉 To verify that all data is current, our forex research team double-checked it on the broker’s official website and datasheet. The newest information on the trading offers of each broker was also confirmed by contacting their online live chat support.

 

👉 The criteria for the list were based on seven parameters that most Nigerian Traders consider when selecting a broker:

  1. Best Customer Support
  2. Lowest Spreads and Commissions
  3. Regulation
  4. Variety of trading instruments
  5. Highest leverage
  6. Negative reviews by their clients
  7. Minimum Deposit to start trading

 

👉 Based on the results of the case study, we examined the trading data we had and selected the best forex brokers based on that evaluation. For your convenience, we have provided the information in a scannable format.

➡️ Pepperstone

➡️ IC Markets

➡️ RoboForex

➡️ OctaFX

➡️ FxPro

➡️ FP Markets

➡️ Axiory

How to choose a forex broker

Islamic Swap-Free Forex Brokers

👉 Nigerian traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.

 

Regulations and Licenses

Regulations and Licenses

👉 This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Nigerians must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.

 

Account Features

Account Features

👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.

 

Deposits and Withdrawals

Deposits And Withdrawals

👉 Nigerians must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.

 

Range of Markets

Range of Markets

👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Nigerians must consider what they wish to trade and what is available.

 

Customer Support

Customer Support

👉 Customer Support is another crucial factor and Nigerians must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.

 

Trading Platform

Trading Platform

👉 A trading platform is the Nigerian trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.

 

Education and Research

Education and Research

👉 Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:

➡️ eBooks

➡️ Trading guides

➡️ Trading knowledge on leveraged products

➡️ A risk warning on complex instruments

➡️ Educational videos

 

👉 Research can include some of the following:

➡️ Trading tools

➡️ Commentary

➡️ Status of International Markets

➡️ Price movements

➡️ Market sentiments

➡️ Whether there is a volatile market

➡️ Exchange Rates

➡️ Expert opinions and several other resources can help experienced traders make informed trading decisions.

The Best Forex Brokers in Nigeria

👉 The brokers featured on this list provide offer the cTrader platform to Nigerian traders alongside some of the best trading conditions in the market. Of these brokers, we have further identified the forex brokers that offer additional services and solutions to Nigerian traders.

 

Best TradingView Forex broker for Nigerian traders

Best TradingView Forex broker

👉 Pepperstone offers TradingView as well as cTrader to Nigerian traders, providing for a comprehensive set of trading and analytical tools.

 

Best scalping Forex broker for Nigerian traders

Best scalping Forex broker

👉 IC Markets is the best Forex broker that will support scalping traders from Nigeria alongside excellent and competitive pricing and conditions.

 

Best copy trading Forex broker for Nigerian traders

Best copy trading Forex broker

👉 RoboForex offers excellent copy trading capabilities for automated Nigerian traders through its CopyFX app.

 

Best commission-free Forex broker for Nigerian traders

Best commission-free Forex broker

👉 OctaFX offers commission-free trading conditions for Nigerian traders alongside a transparent trading environment.

 

Best Forex broker offering fast execution to Nigerian traders

Best Forex broker offering fast execution

👉 FxPro offers ultra-fast order execution of 14 milliseconds to Nigerian traders, making this list as the best Forex broker for rapid order execution and enhanced trading capabilities.

 

Best ECN Forex broker for Nigerian traders

Best ECN Forex broker

👉 FP Markets offers the best ECN capabilities on this list, allowing Nigerian traders to benefit from direct market pricing.

 

Best tight spread Forex broker for Nigerian traders

Best tight spread Forex broker

👉 Axiory offers very tight spreads to Nigerian traders along with no charges on either deposits or withdrawals for truly competitive pricing.

FAQ

Why should I choose a cTrader Forex broker?

There are several benefits to using a cTrader broker. For example, forex brokers who pick the cTrader platform, do so because of the rapid execution of trades and for charting purposes. Another key advantage of picking these brokers is the removal of dealing desk interference.

 

How to choose a cTrader broker?

cTrader brokers should be assessed from the perspective of their regulation, customer support, pricing structure, available trading features, account variety, and they types of assets which can be traded.

 

How is cTrader different?

cTrader, in contrast to MetaTrader and the majority of other broker-owned platforms, only serves as an ECN platform. A direct connection between traders and the global Forex market will imply that there will be no dealing desk interference, either automatic or otherwise.

This is due to the fact that Spotware manages all of the cTrader infrastructure and the interface you get from your broker is only an interface. Commissions and spreads can be adjusted by the broker, but not the price feed or market data.

 

Should I choose cTrader?

This cross-broker trading platform’s reputation for openness, rapidity of product development, and high-speed trade execution make it a welcome choice for traders.

When compared to MetaTrader 4, cTrader’s trading management and visual aesthetics are clearly superior to that of its rival.

 

Which brokers offer cTrader?

Not all brokers off cTrader to Nigerian traders, and we have compiled the list of best cTrader brokers in this comprehensive list.

Conclusion

👉 Now it is your turn to participate:

➡️ Which broker from this list do you intend to test out?

➡️ What was the determining factor in your decision to engage with a certain broker?

➡️ Was it because of the minimum deposit or because of leverage?

 

👉 Regardless, please share your thoughts in the comments below.

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

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