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7 Best Futures Trading Platforms in Nigeria

The 7 Best Futures Trading Platforms in Nigeria revealed. We tested and verified the best futures trading platforms for Nigerian Traders.

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

In this in-depth guide you’ll learn:

  • What is a Futures Trading Platform
  • Which futures trading platforms are best for Nigerian Beginners?
  • Which futures trading platforms are available on mobile (IOS and Android) devices?
  • Which brokers have interactive futures trading platforms?
  • Which broker offers a low $1 (414 Naira) minimum deposit?
  • Which brokers offer a sign-up bonus for first-time traders?


And lots more…

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

Let’s dive right in…

Updated : June 20, 2022

👉 Definition: Futures trading works by using spread bets and CFDs to speculate on the price of an underlying futures market.

Best Futures Trading Platforms in Nigeria (Updated 2022) – Comparison

🥇 Broker✔️ Offers Futures Trading Platform?💸 Minimum Deposit (₦)✔️ Nigerian Naira-based Account?💰 NGN Deposits Allowed?👉 Open An Account
1. FP MarketsYes30, 800 NairaNoYes👉 Open Account
2. PepperstoneYes60, 700 NairaNoYes👉 Open Account
3. HotForexYes2, 000 NairaYesYes👉 Open Account
4. XMYes2, 000 NairaNoYes👉 Open Account
5. Trade NationYes0 NairaNoNo👉 Open Account
6. GO MarketsYes61, 700 NairaNoYes👉 Open Account
7. FXTMYes10, 000 NairaYesYes👉 Open Account

7 Best Futures Trading Platforms in Nigeria (Updated 2022)

  1. FP Markets – Overall, Best Futures Trading Platforms in Nigeria
  2. Pepperstone – Best cTrader Forex Broker
  3. HotForex – Best MT4 Futures Trading Platform
  4. XM – Best Proprietary Mobile Trading App in Nigeria
  5. Trade Nation – Best Fixed Spreads Futures Trading Platform
  6. GO Markets – Best Commission-Free Trading Broker
  7. FXTM – Best Futures Trading Platform with NGN Accounts

1. FP Markets

Overall Rating

Min Deposit

USD 100 / 41450 NGN

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

60

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 All major currencies are available 24 hours a day and five days a week for trading at FP Markets, a multi-award-winning Australian forex broker.

 

👉 GBP/USD, EUR/USD, and USD/JPY are all major currency pairs available to Nigerian traders, and all of them involve the US dollar as either the base or counter currency.

 

👉 FP Markets’ goal is to give seamless forex trading experiences with the latest technology in Nigeria, with the best charting tools for informed decision-making, and a dedicated personal account manager for support.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, CySEC
📲 Social Media Platforms• Instagram
• Facebook
• Twitter
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsRetail Account, Professional Account
📱 Trading PlatformMT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, MT4/5 Islamic Raw Account
💰 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 well-regulated by ASIC and CySEC, two of the most reputable regulatory entitiesFP Markets does not offer fixed spreads
FP Markets has a long-standing history of award-winning solutions and servicesThere are admin fees charged on the Islamic Accounts
The broker supports several flexible deposit and withdrawal methods and optionsThere is no Naira-based trading account offered
Traders can choose from over 10,000 financial instruments
Nigerian Traders can use local deposit and withdrawal methods
Nigerian Traders can make deposits/withdrawals in Nigerian Naira
An Islamic account and demo account are both offered
There are competitive trading conditions offered
There is a choice between trading accounts
FP Markets supports several trading strategies

 

Trust Score and Nigerian Market Share

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

2. Pepperstone

Pepperstone-Logo-Tagline-RGB-BlackBlue

Overall Rating

Min Deposit

USD 10 / 4145 NGN

Regulators

Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView

Crypto

Yes

Total Pairs

60+

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Pepperstone is a privately owned Australian forex broker with a wide selection of Futures options. Third-party trading platforms like as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and a wide array of copy-trading platforms are Pepperstone’s most popular products in Nigeria.

 

👉 Fees for forex and equities index trading are minimal, and customer support is prompt and helpful. Deposits and withdrawals are simple, and there are no transaction fees.

 

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.

3. HotForex

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

 

Overview

👉 Traders in Nigeria may want to consider using HotForex because it is an internationally recognized brokerage firm with an established regulatory and customer-focused business model that offers a safe and secure trading environment.

 

👉 A wide choice of accounts, platforms, premium tools, tight spreads, instructional resources, and instruments are available to Nigerian clients, all of which are suited to their unique needs and preferences.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
📲 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
🏛 CBN Regulation?No
💻 Trading AccountsMicro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account
📱 Trading PlatformMetaTrader 4 and MetaTrader 5
💰 Minimum Deposit (₦)2,000 Naira
💸 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
✔️ Nigerian Naira-based Account?Yes, along with ZAR and USD
💳 NGN Deposits Allowed?Yes
💵 Bonuses for Nigerian traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
There are tight, competitive spreads from 0.0 pips on EUR/USDHotForex only offers a few deposit and withdrawal methods to Nigerians
There is a demo account for beginners who are learning to trade and professional traders who are testing strategies
Nigerian traders can register a trading account in either USD, ZAR, or NGN
Several asset classes can be traded through HotForex
Nigerian traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms

 

Trust Score and Nigerian Market Share

🥇 HotForex has a trust score of 83% and a Nigerian market share of 2.5%.

4. XM

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

 

Overview

👉 Since its inception, XM has offered trading on more than 1,000 assets, including over 57 different currency pairs. For the most part, XM’s trading conditions were determined to be average, with standard account spreads of 1.7 pips (EUR/USD) and ultra-low account spreads of 0.8 pips (EUR/USD).

 

👉 Beginner traders in Nigeria will appreciate the cheap minimum deposit of just $5 across all account types, making it an excellent option with a low entry level.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
📲 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
🏛 CBN Regulation?No
💻 Trading AccountsMicro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account
📱 Trading PlatformMetaTrader 4 and MetaTrader 5
💰 Minimum Deposit (₦)2,000 Naira
💸 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
✔️ Nigerian Naira-based Account?Yes, along with ZAR and USD
💳 NGN Deposits Allowed?Yes
💵 Bonuses for Nigerian traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
There are tight, competitive spreads from 0.0 pips on EUR/USDHotForex only offers a few deposit and withdrawal methods to Nigerians
There is a demo account for beginners who are learning to trade and professional traders who are testing strategies
Nigerian traders can register a trading account in either USD, ZAR, or NGN
Several asset classes can be traded through HotForex
Nigerian traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms

 

Trust Score and Nigerian Market Share

🥇 XM has a trust score of 84% and a market share of <5% in Nigeria.

5. Trade Nation

Overall Rating

Min Deposit

USD 0 / 0 NGN

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on Tradenation’s website

 

Overview

👉 The FCA, ASIC, FSCA, and SCB all regulate Trade Nation, making it a reliable and secure broker.

 

👉 In addition to offering MetaTrader 4 (MT4), Trade Nation (TN) has also introduced its own app and trading platform that is exceptionally user-friendly and offers a large number of tradable assets to Nigerian traders, with fixed spreads and the possibility of guaranteed stops.

 

Unique Features

FeatureInformation
⚖️ RegulationFCA, ASIC, FSCA, SCB
📲 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsSingle retail account
📱 Trading Platform• MetaTrader 4
• Trade Nation proprietary platform
💳 Minimum Deposit (₦)None
💰 Trading Assets• Indices
• Stocks
• Precious Metals
• Forex
• Commodities
• Energies
• CFDs
💸 Nigerian Naira-based Account?No
💵 NGN Deposits Allowed?No
✔️ Bonuses for Nigerian traders?No
📊 Minimum spreadfrom 0.4 pips
📱 Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Trade Nation does not charge a minimum deposit, offering Nigerian traders with flexibilityThere is a limited selection of funding options
The broker offers transparent fixed financial spread trading across several asset classesThe spread costs are not the lowest in the industry
There is a powerful desktop platform, innovative mobile trading app, and web-based trading platformThere are leverage restrictions on the UK and Australian clients
There is commission-free trading offeredUnited States clients are not accepted
There is a wide selection of educational content and beginner guides as part of an all-inclusive education material packageInactivity account fees may apply
There is a dedicated customer service team offered
Trade Nation offers international stability through a well-established regulatory framework

 

Trust Score and Nigerian Market Share

🥇 Trade Nation has a trust score of 79% and a market share of <5% in Nigeria.

6. GO Markets

Overall Rating

Min Deposit

USD 200 / 82900 NGN

Regulators

ASIC, CySec, FSC, FSA and SCA

Trading Desk

Hybrid

Crypto

Yes

Total Pairs

60

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 GO Markets was one of the first Australian forex brokers to offer MetaTrader 4 (MT4) trading software when it was established in 2006. Since then, the company has expanded its offering to include MetaTrader 5, WebTrader, and mobile trading in Nigeria.

 

👉 GO Markets has built a good name in the online forex business thanks to its extensive experience, award-winning customer service, and cutting-edge trading tools.

 

👉 It’s easy to trade assets with the MT4 and 5 platforms because of their low commission rates and tight spreads that appeal to Nigerian traders of all skill levels.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, FSA Seychelles, FSC Mauritius, CySEC
📲 Social Media Platforms• Instagram
• Facebook
• Twitter
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsStandard Account, GO+ Account
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
💸 Minimum Deposit (₦)61,700 NGN
💵 Trading Assets• Forex CFDs
• Share CFDs
• Index CFDs
• Metal CFDs
• Commodity CFDs
💰 Nigerian Naira-based Account?No
💳 NGN Deposits Allowed?No
💸 Bonuses for Nigerian traders?No
📊 Minimum spreadFrom 0.1 pips
💻 Demo AccountYes
☪️ Islamic AccountNo

 

✔️ Pros❌ Cons
There is a demo account offeredA limited selection of trading account types are offered
Traders can choose between MetaTrader 4 and MetaTrader 5

 

Trust Score and Nigerian Market Share

🥇 GO Markets has a high trust score of 98% and a market share of <5% in Nigeria.

7. FXTM

Overall Rating

Min Deposit

USD 10 / 4145 NGN

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 For a good reason, ForexTime has been recognized as an award-winning broker. Regardless of a Nigerian client’s financial goals, FXTM can help them find the best trading options.

 

👉 To make trading as simple and efficient as possible, they provide a wide range of products, platforms, account kinds, and other tools to traders in Lagos, Nigeria.

 

👉 Demo accounts and webinars, as well as other instructional resources, make it easy to learn about the company’s products and services, and the account opening process is quick and entirely online.

 

Unique Features

FeatureInformation
⚖️ RegulationCySEC, FSCA, FCA, FSC Mauritius
📲 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• Instagram
• YouTube
• Telegram
⚖️ CBN Regulation?No
💻 Trading AccountsMicro Account, Advantage Account, Advantage Plus Account
📱 Trading PlatformMetaTrader 4, MetaTrader 5, FXTM Trader
💵 Minimum Deposit (₦)10,000 Naira
💳 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets
✔️ Nigerian Naira-based Account?Yes
💸 NGN Deposits Allowed?Yes
💰 Bonuses for Nigerian traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
FXTM is a multi-regulated and award-winning forex brokerInactivity fees are charged on dormant accounts
There is a dedicated customer support team availableFXTM does not offer its services to United States clients
There are several easy and quick funding and withdrawal methods offered
There are three dynamic retail investor accounts to choose from with high maximum leverage ratios
Low minimum deposit requirements and commission-free trading offered
Deposit fees are not charged on any of the payment methods offered and the processing times on withdrawals are quick
There is a selection of educational tools offered and research tools for experienced traders
There is dedicated customer support offered in multiple languages

 

Trust Score and Nigerian Market Share

🥇 FXTM has a trust score of 93% and an overall market share of over 9.6% in Nigeria.

Overview

👉 Standardized futures contracts for the purchase or sale of currency at a predetermined date, time, and contract amount are known as forex futures. There are numerous futures exchanges where these contracts can be traded.

 

👉 Forex futures are enticing trading vehicles because of their openness, liquidity, and reduced risk of default.

 

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

$100

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

 

👉 Although margin can magnify both gains and losses, the Nigerian trader in Lagos must be aware of this fact, do their homework, and have a risk management strategy in tow before they place their first order of business.

Understanding Futures Trading in Forex

👉 A currency instrument will serve as the underlying asset for all futures contracts in Forex trading. Unless an offsetting trade is performed on the initial position on the forex futures, the currency must be delivered at the end of the contract.

 

👉 Unlike forex spot trades, forex futures are traded on established exchanges, such as the Chicago Mercantile Exchange (CME), rather than over-the-counter (OTC) transactions.

 

👉 Forex futures are cash-settled derivative contracts that expire on fixed dates, typically on the second business day prior to the third Wednesday in the following contract months.

 

👉 There are numerous reasons to trade forex futures. Smaller Nigerian investors can use them to trade smaller positions because of the variety of contract sizes available, while larger investors can use them to trade larger positions because of their liquidity.

 

👉 Companies that will be making payments in foreign currency in the near future may use forex futures as a hedge strategy.

 

👉 For example, Euro FX futures can be used as a form of risk management when a U.S. firm has contracted to purchase an asset from a European firm with a payment date in the near future.

Benefits of Trading Forex Futures for Nigerian Traders

👉 There are a number of benefits which Nigerian traders may derive from trading Forex futures, as described below.

 

Direct pricing

👉 Variable spreads and fluctuating transaction costs are common features of traditional spot FX trading. Forex traders may also have to pay interest if they keep trades open overnight due to the “cost of carry.”

 

👉 Because of all of these variables, it’s difficult to gauge the true cost of forex trading. Trading futures, on the other hand, has a fixed, up-front fee. Cost of doing business is recognized from the outset. Furthermore, overnight futures positions are free of charge.

 

Direct market access

👉 Forex trading has less market transparency due to the lack of a centralized exchange. Orders are frequently handled by a “dealing desk” even though forex is an electronic market.

 

👉 There are inherent difficulties in establishing a fair market for all participants when a middleman processes the FX orders. A centralized exchange handles all futures trading and clearing. The Chicago Mercantile Exchange (CME) serves as the clearinghouse for all E-mini trades.

 

👉 As a result, all transactions, including the time and sales information, are made available to the public in real time.

 

Clear market data

👉 When speculating in the markets, volume is a significant consideration. In the world of technical trading, volume is a key factor in determining when to take a position or exit the market. Without a central exchange, precise volume information is impossible to obtain in FX markets.

 

👉 Trader’s volume data from one forex exchange may not accurately reflect data from all forex exchanges. Volume data is available to all futures traders due to the centralization of the futures markets.

 

👉 Technical analysis relies heavily on volume data, and several indicators, such as the Volume Profile, are based on this data.

 

Access to diverse assets

👉 In contrast to forex traders, who can only trade one currency for another, futures traders can make investments in a variety of different industries.

 

👉 Equities, metals, agriculture, and commodities, such as energy and natural gas, can all be traded on futures exchanges, providing traders with a wide range of trading options.

 

👉 S&P 500 futures can be traded alongside gold and crude oil by a futures trader, as an example. There is only one currency market for spot FX dealers.

How to choose a forex broker

👉 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

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

 

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

👉 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 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

👉 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 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

👉 In this article we have listed the best brokers which offer futures trading platforms for Nigerian traders. Of these brokers, we have further identified the forex brokers that offer additional services and solutions to Nigerian traders.

 

Best Forex broker offering an Islamic account for Nigerian traders

FP Markets

👉 Overall, FP Markets is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for Futures Traders in Nigeria. Regarding spread and security, FP Markets guarantees fast trading speeds from a few milliseconds when future trading in Nigeria. In terms of users, FP Markets has over 10 000 registered traders.

 

Best cTrader Forex broker for Nigerian traders

Pepperstone

👉 Overall, Pepperstone is considered a low-risk broker and can be summarised as a trustworthy and reliable agency-execution broker for Futures Traders in Nigeria. Regarding spread and security, Pepperstone guarantees fast trading speeds from a few milliseconds when future trading in Nigeria. In terms of users, Pepperstone has over 8000 registered clients in the UK.

 

Best MT4 Forex broker for Nigerian traders

HotForex

👉 Overall, HotForex is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for Future Traders in Nigeria. Regarding spread and security, HotForex guarantees fast trading speeds from a few milliseconds when futures trading in Nigeria. In terms of users, HotForex has over 2.5 million registered clients around the world.

 

Best proprietary mobile trading app for Nigerian traders

XM

👉 Overall, XM is considered a low-risk broker and can be summarised as a trustworthy and reliable market making broker for Futures Traders in Nigeria. Regarding spread and security, XM guarantees fast trading speeds from a few milliseconds when futures trading in Nigeria. In terms of users, XM has over 5 million registered clients around the world.

 

Best fixed spread Forex broker for Nigerian traders

Trade Nation

👉 Overall, Trade Nation is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for Futures Traders in Nigeria. Regarding spread and security, Trade Nation guarantees fast trading speeds from a few milliseconds when futures trading in Nigeria.

 

Best Forex broker with commission-free trading for Nigerian traders

GO Markets

👉 Overall, GO Markets is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for Futures Traders in Nigeria. Regarding spread and security, GO Markets guarantees fast trading speeds from a few milliseconds when futures trading in Nigeria. In terms of users, GO Markets has over 6.5 million registered clients around the world.

 

Best Forex broker offering NGN accounts to Nigerian traders in Lagos

FXTM

👉 Overall, FXTM is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for Futures Traders in Nigeria. Regarding spread and security, FXTM guarantees fast trading speeds from a few milliseconds when futures trading in Nigeria. In terms of users, FXTM has over 4 million registered clients around the world.

FAQ

What is futures trading?

Standardized futures contracts for the purchase or sale of currency at a predetermined date, time, and contract amount are known as forex futures. There are numerous futures exchanges where these contracts can be traded.

 

What is the difference between futures trading and spot forex?

Unlike forex spot trades, forex futures are traded on established exchanges, such as the Chicago Mercantile Exchange (CME), rather than over-the-counter (OTC) transactions.

 

What are the benefits of futures trading?

Futures trading provides access to direct market pricing, direct market data, and a greater variety of assets.

 

Can you trade futures on Forex?

Futures trading is a way to trade thousands of financial markets, such as forex, indices, shares, commodities and more.

 

How do you trade futures currency?

Before you can open a currency futures trade, the trader must have a set minimum amount of capital in their account, which is referred to as the margin. There are many currency futures contracts to trade; specifications for each one should be closely examined on the exchange website before being traded.

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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