Forex trading is not a strange language in the ears of people especially Nigerians.
There are lots of forex brokers both in Nigeria and outside Nigeria.
We shall make this concise by highlighting what you should expect from this article.
Highlights
Who are Forex Brokers?
Roles of forex brokers in Nigeria
Each forex broker analyzed
The uniqueness of each broker.
Who are Forex Brokers?
A forex broker is a company or institution that provides access to traders for the buying and selling of foreign exchange. Just like the name, foreign exchange, their principal role is to provide a platform for the buying and selling of foreign currencies.
The roles of Forex Brokers in Nigeria
Usually, most exchange transactions are between pairs of currencies. Common trades currencies such as; U.s dollars, the Euro(EUR), the Pound Sterling (GBP), the Japanese yen(JPY), the Australian dollar (AUD), the New Zealand dollar (NzB), the Canadian dollar (CAD), and the Swiss Franc(CHF).
Forex brokers ensure that there is always an available market for traders to trade on these common currencies in the market.
In summary, forex brokers ensure that:
There is access for buying and selling of forex.
They provided Forex leverages to support and encourage brokers so that they can maximize their profit.
Forex Brokers ensures that adequate updates and information on price change, leverage opportunity, and best market.
Brokerage in Nigeria.
Even though there are numerous financial institutions that create platforms for trading, in this carefully selected list, we are sure that trading with them keeps you on the safe side.
It is noteworthy that each of these brokers has their uniqueness and what they are best for. Also, it should be noted that your choice depends on your considerations.
#1. FXTM
FXTM is a financial or better still call it a brokerage institution in Nigeria. This financial institution has been mentioned among the best brokers in Nigeria.
They were the first to establish a serious presence in Nigeria, and they offer access to the financial markets throughout the country and all through the African continents.
For anyone who is in search of financial opportunity, knowledge, and support, FXTM strives to provide you with all that support.
Their uniqueness.
FXTM is very popular and influential. This marketing platform has been tested and trusted with over 2million traders worldwide.
FXTM is a popular name when it comes to forex trading. With years of experience in the exchange market, traders believe that they are sustainable.
With FXTM, you get access to free trading skills and education here in Nigeria. They have their training centers in Abuja, Lagos, and portharcourt.
They provide you with daily market analysis making it possible for you to be one step ahead.
They are convenient service providers
They make trading easier and convenient for you by providing you with local solutions thus a variety of deposit and withdrawal methods via local banks, credit cards, Bank transfers, and wallets.
Why you should trade with FXTM
With FXTM, you can trade currency pairs and price movements of commodities, indices, and shares in Nigeria.
You can fund accounts with Nigerian bank wires, or via internet transfers.
Low deposits and instant withdrawals with the conversion fees.
#2. OCTAFX.
OCTAFX is one trading platform that is known all over the world likewise Nigeria. If you are seeking the fastest lanenti to maximize your profit, OCTAFX should be your option.
The trading platform is reliable because liquidity is provided by various leading banks and financial institutions.
It guarantees transparency and makes for fast trading.
Their market prices are transparent and relatively on the favorable side for traders.
With OCTAFX, there is no such thing as volume-based commissions and OCTAFX do not care about this making trading cost highly favorable
#3. Pepperstone
Pepperstone is another high-ranked broker. This platform is located in Melbourne Australia. Their services include; Making available financial instruments, including forex, index, share, commodities, cryptocurrencies, and forex trading index CFDS.
As a financial institution founded in 2010 by Owen Kerr, its major role is to offer financial markets access.
services at pepperstone are reliable and satisfactory.
This brokerage maintains an interbank network utilizing Equinix.
The two major third-party trading tools pepperstone collaborates with are; Meta trader 4, Meta trader 5, and Zoho CRM.
From our thorough research, we have come to realize that pepperstone is perfect for small account traders and as well as beginners.
#4. Hot forex
This is another high-ranked financial institution that trades forex. Hotforex is a friendly platform for traders. This is because its enhanced Meta trader offering provides a good selection of tradable products.
With hottrader, you are sure to have access to over 1000 securities, CFDS, and about 50 forex pairs.
A good thing about trading with hotforex is that it comes with multiple account options to ensure that traders experience convenience as they trade.
#5. IC MARKETS
This is an online-based market in Australia, but its services extend to Nigeria.
Its headquarters is in Sydney with its specialization in CFDS, Forex, stock, indices, commodities, bonds, and equity markets.
Final thoughts
Forex Brokers are surfacing every day. On that note, there is a possibility that better brokers are out already.
The purpose of this article is not to limit your broker's choice, but to present but a few that we are sure that trading with them is highly safe and beneficial.
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