As a result even with assets that feature small price movements, traders can exhaust the opportunity to gain enormous profits. With the growing business opportunities and access to a large variety of financial instruments world wide, Nigeria is becoming a fertile ground for CFD trading. And when it comes to giving their customers some excellent trading options and top notch services, Ava Trade tops the list for one of the best forex brokers nation wide. AvaTrade was founded in , with the primary mission is to empower people to trade with confidence. With strong core values of integrity and innovation, we always put the customer first, and center all our efforts into enabling traders of all levels to unleash their true potential.
Whether it is our customer service, diversity of instruments and variety of platforms or any of our other superior services — we work hard to ensure our clients have a pleasant trading experience. For over 11 years, AvaTrade has established itself as a major player in the online financial field, with a proven track record of positive customer satisfaction. Our key responsibility to offer top notch services to all our traders.
Since our establishment, we have carved a reputation as a leader of the revolution in online trading by providing a reliable, user-oriented trading environment built on the most advanced platforms and regulated on 5 continents. The results speak for themselves — AvaTrade currently has , registered traders around the globe, who place more than 2 million trades every month.
As an AvaTrade customer you can rest assured you get the choice, support and security you need.
26 Best Forex Brokers in Nigeria
As such we are subject to stringent compliance requirements regarding how we handle client funds, security, and financial reporting. You can find out more about our licenses and regulations here. To learn more about how we guarantee the safety of your trading funds, click here. Still don't have an Account? Sign Up Now. Why Avatrade Nigeria? If you have coding or programming skills, you can create custom code and run it through the platform.
MetaTrader allows robot trading or automated trading.
You can place and execute high-frequency trades using complex algorithms, just like hedge funds. The platform also integrates copying and backtesting functions allowing you to test if your trading strategies work. In a nutshell, MetaTrader is the industry standard for forex trading software.
Louis Schoeman
Serious forex brokers have their own proprietary software. They also have many other software versions i. The best broker provides the best software variety. The larger the difference, the higher the cost of trading.
Considering a spread is charged on every trade, trading costs can increase drastically if you choose a broker that charges high spreads. For the most popular currency pairs i. The best forex brokers Nigeria offer both spread options to allow traders manage costs. In regards to commission, you should trade with brokers that have a clear commission structure. You should know how much money you will be charged in advance for holding onto trades for longer than usual, withdraw funds, deposit funds, etc.
List of Best Forex Trading Platforms in Nigeria
You should be able to test your trading strategy with virtual money via a demo or practice account. When you decide to use real money, you should be able to open a micro, mini, standard or VIP account. Micro accounts are great for beginners who want to take small risks i. Since losing is inevitable for beginners, micro accounts allow traders to learn without overleveraging. A mini account is perfect for a trader who knows the basics and is ready to take average risk i.
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The broker should have live chat support available within seconds. Support staff should be skilled enough to offer instant solutions to common problems. The support services should also be available in English and native language to cater to Nigerian traders in need of support services in their dialect. You should select a forex broker in Nigeria who offers free but useful educational material such as training videos, audio, and text on forex trading. The broker should also offer tools for technical and fundamental analysis i.
Some brokers go as far as offering trading signals. In a nutshell, there should be a genuine effort by the broker you choose to offer added value. There are many local and foreign forex brokers to use if you are a trader based in Nigeria. However, there are more rogue than legitimate brokers in Nigeria.
Before you risk your money and place your personal information in the hands of a broker, make sure they are legitimate. Last, but not least, they should not exist solely to profit.
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