12 Best Forex Trading Apps in Nigeria for Beginners (Dedicated Nairaland Thread Link)

12 Best Forex Trading Apps in Nigeria for Beginners (Dedicated Nairaland Thread Link)

Last Updated on October 14, 2022

It is important that the best forex trading apps in Nigeria have these features. Like excellent trading capabilities, intelligent live data display capabilities, custom views and flexible charts, easy lock-in on your profits, and simple deposits and withdrawal options.

Finding a suitable forex trading app in Nigeria can be a laborious process. because you have to find the legit ones that accept Nigerian forex traders as well as allow you to trade from any internet-enabled device. Don’t worry, we’ve got you covered!

We’ve listed the top best online forex trading apps that would let you as a Nigerian trader, trade Forex and Stocks. Here’s a breakdown of the top 10 best forex trading apps in Nigeria:

Top Forex Trading Apps in Nigeria

  • FXTM Metatrader – Most Popular Forex Trading App in Nigeria
  • Hotforex – Best Metatrader Trading Platform with deposit bonus Most Trusted Forex Trading App.
  • OctaFX MT4 – Low fees & Local bank funding available
  • XM – Best Forex Trading App for fast order execution
  • FBS –  Highest Leverage Forex Trading App
  • Alpari – Low spread Forex Trading app in Nigeria
  • IQ Option – Ideal FX App For Beginner Traders
  • IC Markets – Best Forex App With The Lowest Spreads.
  • eToro – Best App For Forex Copy Trading
  • Olymp Trade – Best Reliable Forex Trading App.
  • ExpertOption – Best Online Forex Trading App Experience

Best Forex Trading Apps in Nigeria

1. FXTM Metatrader

Most Popular Forex Trading App in Nigeria

fxtm

One of the most popular and established forex trading apps in Nigeria, FXTM offers over 250 trading instruments to traders that include CFDs, including Forex, spot metals, 180 company shares, commodities, indices and cryptocurrencies. This forex broker in Nigeria which was founded in 2011, is regulated by the CySEC, FSCA, FCA (UK) and by the FSC (Mauritius). FXTM supports copy-trading as well.

Forex traders have access to fast order execution, trading signals, a range of order types (market order, limit orders, and stop-loss orders), a news feed, and so much more on the FXTM platform. Like its technical analysis charting tools which include 30 in-built indicators, and 2000+ custom indicators that come for free 

Metatrader 4 (MT4) & MetaTrader 5 (MT5) are the forex trading platforms used by FXTM. Both platforms software are available for all devices like desktop, iPhone, iPad, Android, and Mac.

FXTM Features

  • Great for Beginners
  • FXTM Minimum Deposit: $10 (Micro Account)
  • 1-click trading Option for quicker buying and selling
  • Easy Deposit & Withdrawal Options on the FXTM Dashboard

2. HotForex

Best Metatrader Trading Platform with Deposit

hotforex

Another one of the top forex trading apps in Nigeria offering a copy-trading feature (HFcopy and PAMM copy-trading). HotForex lets Nigerian traders trade Forex, commodities, indices, shares, bonds, and ETFs.

HotForex is regulated by the FSCA, FCA, FSC, CySEC and DFSA.

The Metatrader 4 & 5 platforms are available on HotForex and can be used on desktop, mobile & web devices. traders using HotForex have access to fast order execution, advanced charting, in-app fund transfers, a market news stream (feed) and frequent analysis published by the HotForex research team.

HotForex Features

  • Low Minimum deposit of $5 (Micro Account by HotForex)
  • Tons of Analytical tools that include Daily Market Analysis from experts, a market sentiment tool, trader’s Board, trading calculators, and an economic calendar.
  • Strong Copy-trading feature
  • Islamic Account Support
  • Tight Spreads of  EUR/USD 1.00 pips
  • Investment monitoring – Monitor the status of investments, allocate funds and manage your portfolio.

3. OctaFX

octa fx

Low fees & Local bank funding Forex Trading App

One of the most well-known forex trading apps in Nigeria, OctaFX offers forex traders in Nigeria MetaTrader and cTrader (better design + dot mapping features). OctaFX can be used on web, desktop and mobile devices. Like the other forex trading apps we’ve mentioned on this list, OctaFX allows you to execute your orders quickly.

Other features that this forex broker in Nigeria offers include scalping & hedging, custom indicators and Expert Advising, custom indicators as well as a VPN service (MT4).

Metatrader 4 with their Micro account, MT5 platform with their Pro account and cTrader with their ECN account. All their platforms come with multi-device support for web, desktop & mobile.

You can easily buy CFDs on metals, energies, cryptocurrencies (Bitcoin, Ethereum & Litecoin) using OctaFX.

OCtaFX Features

  • Low fees on Local bank Funding
  • Trade with MT4, MT5 and cTrader with OctaFX
  • Minimum deposit of $100 on OCtaFX
  • Trade in USD & EUR only for traders in Nigeria.

4. XM

xm

Best Forex Trading App for fast order execution

Out of the forex trading apps in Nigeria XM is one the fastest apps in order execution. Definitely top two. The forex education and research resources that Xm offers are some of the best around.

With XM you can trade forex, commodities, equities, metals, energy and stock CDFs. XM works with MT4 and MT5.

This forex broker offers three types of account: Miro Account, Standard account And the XM Zero Account

XM Features

  • Super-Tight Spreads
  • Minimum deposit of $5 on XM Forex
  • Fast Trades
  • MT4 & MT5 supported (WIth apps)

5. FBS

fbs

Highest Leverage Forex Trading App

Out of all the forex trading apps in Nigeria, FBS offers the highest leverage to Nigerians. A 3000:1 leverage. With the FBS platform, you can trade forex, equities, cryptocurrencies, metals, and commodities.

FBS supports the MT4 and MT5 trading platforms as well as a stand-alone FBS trading app available on Andriod with an iOS version to be launched soon. FBS offers up to 5 different accounts to traders.

FBS Features

  • Multi-asset trading app
  • Minimum deposit on the FBS app is $1 (on smaller accounts)
  • Easy 24/7 withdrawal options
  • 20% cashback on orders executed

6. Alpari

alpari forex

Low spread Forex Trading App in Nigeria

Another one of the most popular forex trading apps in Nigeria, Alpari offers 3 account t types: Nano, Standard, and ECN accounts. It also supports MT4 & MT5 trading platforms as well as the Alpari stand-alone mobile trading app available on Android and iOS.

You can use Alpari on mobile, desktop and web devices.

You can access multiple timeframes, order types and tools for technical analysis. The Alpari platform also has a news feed and an education section too.

Alpari Features

  • MT4 MT5 trading platforms supported.
  • Alpari Minimum deposit in $5
  • Fast Order execution with limit and stop-loss orders
  • Low spread for most currency pairs.
  • Stand-alone app for PAMM account investors.

7. IQ Option

iq option

Ideal Forex App For Beginner Traders

This Forex trading app offers low minimum deposits to traders in Nigeria. IQ Option is one of the forex trading apps in Nigeria with growing popularity among beginner traders due to its social trading feature and ease of use.

IQ Option offers a wide range of trading tools that include Moving Averages, Bollinger Bands, MACD, and RSI. This force broker in Nigeria offers one live commission-free account. You also get access to educational and research resources for traders.

IQ Option Features

  • IQ Option has a minimum deposit of $10
  • Competitive spreads at 0.7 pips on the EUR/USD
  • IQ Option provides various sentiment indicators
  • Deposits are free but withdrawal fees are high

8. IC Markets 

ic markets

Best Forex App With The Lowest Spreads

IC Markets is another one of the forex trading apps in Nigeria that supports the cTrader platform as well as Metatrader 4 and 5. IC Markets can be used on all internet devices, with its mobile app available for iOS and Android.

Nigerian traders have access to three types of accounts on IC Markets. Raw Spread, Standard and Islamic accounts. Red Spread Accounts offer smaller commissions than Standard accounts as well as lower spreads.

This forex broker allows traders to do hedging, scalping and copy trading.

IC markets also offer an easy-to-use interface and offer 24/7 customer service.

IC Markets Features

  • Offers single-tap execution
  • IC Market Minimum deposit is $200
  • Minimum Spread 0.10 pips
  • Max Levrage is 500:1 on IC Markets

9. eToro 

Best App For Forex Copy Trading.

10. Olymp Trade 

Best Reliable Forex Trading App

Forex Trading Apps in Nigeria Nairaland link

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