7 Best Spread Betting Platforms in Nigeria
The 7 Best Spread Betting Platforms in Nigeria revealed. We tested and verified the best spread betting platforms for Nigerian Traders.
This is a complete list of the best spread betting platforms in Nigeria.
In this in-depth guide you’ll learn:
- What is spread betting?
- Why you should invest with an ECN broker with a spread betting platform?
- Which platforms are the best for spread betting in Nigeria?
- Which spread betting brokers are interactive?
- Compare spread betting platforms side by side.
- Which platforms offer a mobile app for Nigerian Brokers?
- Which brokers offer a signup bonus for first-time traders?
And lots more…
So if you’re ready to go “all in” with the best-tested spread betting platforms for Nigerians…
Let’s dive right in…
- Louis Schoeman
Best Spread Betting Platforms in Nigeria – Comparison
| 🥇 Broker | ✔️ Offers a Spread Betting Platform? | 💰 Minimum Deposit (₦) | 💸 Nigerian Naira-based Account? | 💳 NGN Deposits Allowed? | 👉 Open An Account |
| 1. FP Markets | Yes | 30,800 Naira | No | Yes | 👉 Open Account |
| 2. Peppertsone | Yes | 60,700 Naira | No | Yes | 👉 Open Account |
| 3. HotForex | No | 2,000 Naira | Yes | Yes | 👉 Open Account |
| 4. XM | Yes | 2,000 Naira | No | Yes | 👉 Open Account |
| 5. FXTM | Yes | 10,000 Naira | Yes | Yes | 👉 Open Account |
| 6. Capital.com | Yes | 10,000 Naira | No | Yes | 👉 Open Account |
| 7. Oanda | Yes | 0 Naira | No | Yes | 👉 Open Account |
7 Best Spread Betting Platforms in Nigeria (2023)
- FP Markets – Overall, Best Spread Betting Platform Broker
- Pepperstone – Best TradingView Spread Betting Platform in Nigeria
- HotForex – Best CMA-Regulated Broker
- XM – Best Mobile Trading App for Nigerians
- FXTM – Best Naira-Based Spread Betting Platform
- Capital.com – Best Proprietary Spread Betting Platform
- Oanda – Best No-Minimum Deposit Broker in Nigeria
What is spread betting?
👉 Spread betting is a derivative technique in which participants do not own the underlying asset on which they are betting and instead borrow it from a financial institution.
👉 Spread bettors speculate on whether the price of an asset will rise or fall based on the prices that are made available to them by a broker.
Understanding how spread betting works
👉 Spread bets are traded in the same way that stocks are traded, with two prices quoted: a price at which you may buy (bid price) and a price at which you can sell (ask price).
👉 The spread is defined as the difference between the buy and sell price at the time of purchase. The spread-betting broker makes money off of this spread, which permits spread bets to be placed without the need for commissions, unlike most other types of securities trading.
👉 Investors align with the bid price if they feel the market is headed upward, and they align with the ask price if they believe the market is headed downward.
👉 Spread betting has several distinguishing qualities, including the use of leverage, the ability to trade both long and short positions, the large number of markets available, and tax advantages.
👉 In recent years, spread betting has become increasingly sophisticated as a result of the introduction of electronic markets, lowering the entrance hurdles and resulting in the creation of a wide and diverse alternative marketplace.
👉 Arbitrage allows investors to profit from price differences between two marketplaces, particularly when two separate organizations provide different spreads on the same asset class.
👉 Overleverage continues to be a big issue in spread betting, both in terms of the desire and the dangers of doing so.
👉 Although spread betting requires a little initial investment, the risk control techniques available and the tax advantages make it an appealing option for investors to profit from the market.
Advantages of spread betting
👉 Spread betting has several advantages distinct from other forms of market speculation. These advantages include:
➡️ In order to place a spread bet, you do not need to physically purchase the instrument on which you are betting. Instead, you speculate on whether you believe prices will rise or decline in the future.
➡️ Because you are not purchasing the underlying goods, you do not have to pay stamp duty when you trade spread bets, in contrast to typical shares trading. Instead, you take a position based on whether you believe the price of a certain product will climb or fall in the future.
➡️ Spread betting is a financial instrument that is traded on leverage (or margin). The ability to trade on a margin allows you to do more with your capital – you can establish more or larger positions than you would be able to do if you needed to fund the entire position with your own funds.
Disadvantages of spread betting
👉 Spread betting also has some drawbacks of which traders in Nigeria should take note in order to mitigate their risk of losses:
➡️ Without the use of a stop loss position, losses can be sudden and limitless.
➡️ Because of the geared nature of spread betting, market movements are magnified and volatility is increased.
➡️ The fact that a loss can occur does not mean that it can be offset against an investor’s capital gains on subsequent investments, as is the case with stock purchases.
➡️ Spread betting is not a long-term investment plan, but rather a one-time speculation.
➡️ Spread-betting on stocks gives investors no access to dividends or any other rights that would otherwise be available to shareholders.
Best Spread Betting Platforms in Nigeria
👉 Spread betting has numerous advantages for traders in Nigeria, and can be particularly effective with the use of a risk-management strategy. Spread betting should be conducted on a regulated and feature-rich platform, and we have listed the best of these below.
1. FP Markets
Overall Rating
- 4.8/5
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 FP Markets is an excellent broker to take into consideration. More than 10,000 products across stocks, indices, foreign exchange (forex), commodities and cryptocurrencies are available, and they have a user-friendly mobile app and a variety of account types to choose from.
👉 The commission-free, low spread trading accounts that allow access to more than 10,000 instruments from a mobile trading app that is extremely simple to use will appeal to new traders, as will the commission-free, low spread trading accounts that are available to experienced traders.
👉 Advanced traders will benefit from the commission-free ECN account, which provides access to raw spreads, as well as the Direct Market Access option for its share CFDs, which is available through professional trading platforms MetaTrader 5 and IRESS, respectively.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC |
| 📲 Social Media Platforms | • Instagram • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📱 Trading Platform | MT4/5 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 spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| FP Markets is a well-regulated broker that has a high level of trustworthiness | There are no fixed spread accounts offered |
| There is a wide range of markets that can be traded across asset classes | There is no dedicated Naira account offered to Nigerian traders |
| There are powerful trading platforms supported across devices | There are withdrawal fees charged |
| Nigerian traders receive an ECN pricing model with raw and tight spreads | There 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.
2. Pepperstone
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
Overview
👉 More than 170 nations and $8.3 billion in daily trades use Pepperstone as their online trading broker, which is widely recognized as one of the best in the business.
👉 With cutting-edge technology, low spreads, low latency, and high speed execution in addition to award-winning customer care, they give traders across the world access to all markets.
👉 There have been a number of accolades given to the broker over the years, including those for forex broker excellence, customer assistance, cutting edge technology, and offering the best possible trading circumstances for customers.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 📲 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Standard account, Razor Account, Professional Account, |
| 📱 Trading Platform | MetaTrader 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 spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Pepperstone ensures client fund security by keeping it in segregated accounts | Nigerian traders do not have a Naira-denominated trading account |
| Pepperstone is both a multi-regulated and multi-award-winning broker | There are additional fees applied to the Islamic account |
| Pepperstone caters for all types of traders despite their trading experience or style | There 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
- 4.8/5
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
👉 HotForex is a forex broker that offers a sophisticated trading platform, a variety of pricing options and account types, as well as competitive fees and spreads that average 0.1 for the EUR/USD currency pair.
👉 Traders of any size or profile can take advantage of unlimited liquidity and choose from a wide range of spreads and liquidity providers to their satisfaction. HotForex offers a comprehensive set of research tools that are ideal for all trading strategies.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📲 Social Media Platforms | • Facebook • Telegram • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 📱 Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💰 Minimum Deposit (₦) | 2,000 Naira |
| 💸 Trading Assets | Forex, 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 spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| There are tight, competitive spreads from 0.0 pips on EUR/USD | HFM 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 HFM | |
| 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
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
Overview
👉 XM, which is regulated by strict financial regulators in all relevant jurisdictions, builds on its established reputation by offering a balanced mix of the features that users value the most: security, support, ease of account funding and withdrawal, and cheap fees.
👉 This beneficial mix makes XM an excellent venue to begin a trading profession or to advance one’s existing trading career.
👉 A high level of reliability is provided by XM, a trading platform that eliminates the uncertainty associated with order execution while maintaining a high level of compatibility with MetaTrader 4 and 5.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 📲 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, XM Mobile App |
| 💰 Minimum Deposit (₦) | 2,000 Naira |
| 💸 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares |
| ✔️ Nigerian Naira-based Account? | No |
| 💳 NGN Deposits Allowed? | Yes |
| 💵 Bonuses for Nigerian traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| XM has more than 5 million active clients from around the world | Inactivity fees apply |
| Client fund safety is guaranteed, and XM offers investor protection to Nigerian traders | There are no fixed spreads offered |
| XM has won several industry awards since its establishment in 2009 | |
| There are no commissions charged on either deposits or withdrawals | |
| XM is a low-cost forex broker with a high trust score |
Trust Score and Nigerian Market Share
🥇 XM has a trust score of 84% and a market share of <5% in Nigeria.
5. FXTM
Overall Rating
- 4.6/5
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
👉 As a forward-thinking broker, FXTM strives to provide the finest trading conditions for all of its clients, regardless of their level of experience. Traders of all levels can use ForexTime. To safeguard the safety and security of their clients’ cash, they keep them in segregated accounts.
👉 User-friendly design and flexible trading circumstances make the site ideal for active trading and investment opportunities for traders of all skill levels.
👉 FXTM Invest is a service that allows traders to duplicate other traders’ moves. Beginners and pros alike can benefit from investing in the trading tactics of seasoned professionals through the use of this service.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| 📲 Social Media Platforms | • Facebook • YouTube • Telegram |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 💰 Minimum Deposit (₦) | 10,000 Naira |
| 💸 Trading Assets | Precious 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 spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| FXTM is a popular and multi-regulated trading provider | There are inactivity fees that will be applied if the trading account goes dormant |
| FXTM offers its clients quick deposit and withdrawal methods with short processing times | |
| There are no deposit fees charged | |
| There are several educational materials offered | |
| FXTM offers dedicated, local support 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.
6. Capital.com
Overall Rating
- 4.5/5
Min Deposit
USD 20 / 8292 NGN
Regulators
CYSEC, ASIC, FCA and NBRB licence Seychelles coming soon
Trading Desk
Market maker
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Capital.com is a reputable and well-regulated spread betting brokerage firm in the United Kingdom. You can trade a wide selection of assets with variable spreads that are competitively priced. There are no commissions or other fees associated with inactivity, withdrawal, or deposit.
👉 As a result of its large and well-organized assortment of education and research materials, Capital.com is a fantastic alternative for new traders.
👉 Because of its user-friendly interface and extensive capabilities, its proprietary platform is widely used. On the whole, Capital.com is an excellent alternative for traders searching for a low-cost trading environment that offers a wide range of tradable assets.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, FCA, NBRB, and CySEC |
| 📲 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Retail Account |
| 📱 Trading Platform | • Capital.com Web • Capita.com Mobile • MetaTrader 4 • Trading View |
| 💰 Minimum Deposit (₦) | 8,000 Naira |
| 💸 Trading Assets | • Indices • Forex • Commodities • Cryptocurrencies • Shares |
| ✔️ Nigerian Naira-based Account? | No |
| 💳 NGN Deposits Allowed? | Yes |
| 💵 Bonuses for Nigerian traders? | No |
| 📊 Minimum spread | from 0.6 pip EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | No |
| ✔️ Pros | ❌ Cons |
| Capital.com is a well-regulated broker that reports excellent user experience | There are restrictions on leverage ratios |
| Capital.com offers a proprietary platform, mobile trading apps, and MetaTrader 4 | The spreads are marked-up |
| There is a transparent fee structure with tight spreads, commission-free trading, and a reasonable overnight fee charge | |
| Offers thematic investments and Capital.com TV | |
| The broker accepts all trading strategies including algorithmic trading, mobile trading, scalping, and others |
Trust Score and Nigerian Market Share
🥇 Capital.com has a trust score of 76% and a market share of <5% in Nigeria.
7. Oanda
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
Overview
👉 OANDA provides clients with exposure to a wide range of financial products, but it is particularly well suited for experienced traders seeking a superior desktop trading experience.
👉 Product availability varies from one region to another. A few of the broker’s strengths include fast and dependable transaction execution, research resources that are above industry standards, intuitive user interfaces, and a track record of regulatory oversight that can be verified.
Unique Features
| Feature | Information |
| ⚖️ Regulation | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA |
| 📲 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Standard Account, Core Account, Swap-Free Account |
| 📱 Trading Platform | MetaTrader 4, OANDA Platform, TradingView |
| 💰 Minimum Deposit (₦) | 0 Naira |
| 💸 Trading Assets | Index CFDs, Forex, Metals, Commodity CFDs, Bonds CFDs, Precious Metals, Real-time Rates |
| ✔️ Nigerian Naira-based Account? | No |
| 💳 NGN Deposits Allowed? | Yes |
| 💵 Bonuses for Nigerian traders? | No |
| 📊 Minimum spread | from 0.1 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| OANDA has an award-winning proprietary trading platform | There is an inactivity fee on dormant accounts |
| There is a dedicated account for Muslim traders | There are no fixed spreads |
| Negative balance protection is automatically applied to the retail accounts | |
| There are no deposit fees charged | |
| There is a large selection of educational materials |
Trust Score and Nigerian Market Share
🥇 OANDA has a trust score of 91% and a market share of <5%.
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 Forex brokers which offer spread betting platforms to traders in Nigeria. Of these brokers, we have further identified the forex brokers that offer additional services and solutions to Nigerian traders.
Best ECN spread betting platform for traders in Nigeria
👉 FP Markets offers the best ECN spread betting platform to traders in Nigeria. FP Markets guarantees fast trading speeds from a few milliseconds. FP Markets has over 10 000 registered traders.
Best TradingView spread betting platform for traders in Nigeria
👉 Pepperstone offers the best TradingView spread betting platform for traders in Nigeria. Pepperstone is considered a low-risk broker and can be summarised as a trustworthy and reliable agency-execution broker. Pepperstone guarantees fast trading speeds from a few milliseconds. Pepperstone has over 8000 registered clients in the UK.
Best CMA-regulated spread betting platform for traders in Nigeria
👉 HotForex is the best CMA-regulated spread betting platform for traders in Nigeria. HotForex is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker. HotForex guarantees fast trading speeds from a few milliseconds. HotForex has over 2.5 million registered clients around the world.
Best mobile trading spread betting platform for traders in Nigeria
👉 XM offers the best mobile trading spread betting platform for traders in Nigeria. XM is considered a low-risk broker and can be summarised as a trustworthy and reliable market making broker. XM guarantees fast trading speeds from a few milliseconds. XM has over 5 million registered clients around the world.
Best naira-based spread betting platform for traders in Nigeria
👉 FXTM offers the best Naira-based spread betting platform for traders in Nigeria. FXTM is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker. FXTM guarantees fast trading speeds from a few milliseconds. FXTM has over 4 million registered clients around the world.
Best proprietary spread betting platform for traders in Nigeria
👉 Capital.com offers the best proprietary spread betting platform for traders in Nigeria. Capital.com is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker. Capital.com guarantees fast trading speeds from a few milliseconds. Capital.com has over 5 million registered clients around the world.
Best no minimum deposit spread betting platform for traders in Nigeria
👉 Oanda offers the best no minimum deposit spread betting platform for traders in Nigeria. Oanda is considered a low-risk broker and can be summarised as a trustworthy and reliable market maker broker. Oanda guarantees fast trading speeds from a few milliseconds.
FAQ
What is spread betting?
Spread betting is a derivative technique in which participants do not own the underlying asset on which they are betting and instead borrow it from a financial institution.
Spread bettors speculate on whether the price of an asset will rise or fall based on the prices that are made available to them by a broker.
Can I make a living from spread betting?
Yes, many spread bettors report high earnings when conducting this derivative technique in tandem with a risk-adjusted trading strategy.
How do I get better at spread betting?
Spread bettors can improve their technique by having a risk-adjusted strategy, building a trading plan, focusing on one market, and practising in a demo account.
Can I use leverage when spread betting?
Yes, spread betting is a leverage product which allows traders to open larger positions and potentially make higher profits. Leverage should always be used carefully and with a risk-adjusted strategy.
Do hedge funds use spread betting?
Yes, spread betting is used as more than just a speculative instrument, but can also be used to hedge.
Conclusion
👉 Overall, spread betting is a fast-paced derivative trading technique in Nigeria that can give high rewards when conducted properly. Spread betting is best conducted through regulated spread betting platforms in Nigeria as listed in this article.
