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Forex brokers › Nigeria

Country guide · checked 2026-09-29

Forex brokers in Nigeria

By Michael JimmyRegulator: Securities and Exchange Commission Nigeria (SEC)

Quick answer

None of the 12 brokers we track lists a SEC Nigeria licence. If you live in Nigeria, you would deal with a foreign entity, so check which regulator supervises the company named in your account agreement (checked 2026-09-29).

Disclosure: We earn a commission if you sign up through some links on this page. It never changes our ratings, which are based only on the sourced data and test notes shown. More

Check a broker yourself

  1. Find the licence number and legal entity in the broker's website footer.
  2. Search it on the Securities and Exchange Commission Nigeria (SEC) register.
  3. Confirm the entity in your account agreement is the one on the register.

Brokers we track

Pepperstone Regulated

  • FCA FRN 684312
  • ASIC AFSL 414530
  • CySEC 388/20
Platforms
MT4, MT5, cTrader, TradingView, Pepperstone web platform and app
Minimum deposit
$0
Copy trading
CopyTrading by Pepperstone (MT4/MT5), cTrader Copy

9.0/10

Research score 79.6% of retail investor accounts lose money when trading CFDs with this provider

Check your entity International clients may be onboarded by Pepperstone Markets Limited (Securities Commission of The Bahamas, SIA-F217), which has weaker client protection than the licences above.

eToro Regulated

  • FCA FRN 583263
  • CySEC 109/10
  • ASIC AFSL 491139
  • MAS CMS101824
Platforms
eToro proprietary platform (web and app)
Minimum deposit
Varies by region, from $10 to $10,000
Copy trading
CopyTrader

8.5/10

Research score 51% of retail investor accounts lose money when trading CFDs with this provider.

FP Markets Regulated

  • ASIC AFS License No. 286354
  • CySEC 371/18
  • FSCA FSP 50926
Platforms
MT4, MT5, cTrader, TradingView, WebTrader, Iress, mobile app
Copy trading
FP Markets Social Trading (MT4/MT5), Signal Start

8.0/10

Research score 74.56% of retail CFD accounts lose money.

Check your entity International clients may be onboarded by First Prudential Markets Limited (Seychelles FSA, SD130), which has weaker client protection than the licences above.

Tickmill Regulated

  • FCA FRN 717270
  • CySEC 278/15
  • FSCA FSP 49464
Platforms
MT4, MT5, TradingView, Tickmill Trader
Minimum deposit
$100 (Classic and Raw accounts)
Copy trading
Tickmill Social Trading

8.0/10

Research score Trading carries a high risk of loss.

Check your entity International clients may be onboarded by Tickmill Ltd (Seychelles FSA, SD008), which has weaker client protection than the licences above.

Vantage Regulated

  • FCA FRN 590299
  • ASIC AFSL 428901
  • FSCA FSP 51268
Platforms
Vantage App, Vantage Web Trading, MT4, MT5, TradingView
Copy trading
Vantage Copy Trading

8.0/10

Research score 70.98% of retail investor accounts lose money when trading CFDs and Spread Bets with this provider.

Check your entity International clients may be onboarded by VIG Group (FSC Mauritius, GB20026165), which has weaker client protection than the licences above.

OANDA Regulated

  • FCA No: 542574
  • ASIC AFSL 412981
  • CFTC/NFA NFA ID 0325821
Platforms
OANDA Mobile, TradingView, MT5
Copy trading
MT5 copy trading

7.5/10

Research score 76.6% of retail investor accounts lose money when trading CFDs with this provider

Check your entity International clients may be onboarded by OANDA Global Markets Ltd (FSC British Virgin Islands, SIBA/L/20/1130), which has weaker client protection than the licences above.

IC Markets Regulated

  • ASIC License No. 335692
  • CySEC 362/18
Platforms
MT4, MT5, cTrader, TradingView, WebTrader
Copy trading
IC Social, cTrader Copy Trading, ZuluTrade, Signal Start

6.6/10

Research score 72.52% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd

Check your entity International clients may be onboarded by Raw Trading Ltd (Seychelles FSA, SD018), which has weaker client protection than the licences above.

AvaTrade Regulated

  • Central Bank of Ireland C53877
  • ASIC 406684
  • FSCA No. 45984
  • Japan FSA 1662
  • ADGM FSRA 190018
  • CySEC 347/17
Platforms
WebTrader, AvaTrade App, AvaOptions, MT4, MT5
Copy trading
AvaSocial, DupliTrade

6.5/10

Research score Trading carries a high risk of loss.

Check your entity International clients may be onboarded by Ava Trade Markets Ltd (FSC British Virgin Islands, SIBA/L/13/1049), which has weaker client protection than the licences above.

IG Regulated

  • FCA FRN 195355
  • ASIC AFSL 515106
Platforms
IG web platform and apps, MT4, MT5, ProRealTime, L2 Dealer, TradingView

5.6/10

Research score 70% of retail client accounts lose money when trading CFDs, with this investment provider.

Check your entity International clients may be onboarded by IG International Limited (Bermuda Monetary Authority), which has weaker client protection than the licences above.

Exness Regulated

  • FCA FRN 730729
  • CySEC 178/12
  • FSCA FSP 51024
Platforms
MT4, MT5, Exness Terminal, Exness Trade app

5.5/10

Research score Trading carries a high risk of loss.

Check your entity International clients may be onboarded by Exness (SC) Ltd (Seychelles FSA, SD025) or Exness (MU) Ltd (FSC Mauritius, GB20025294) or Exness (VG) Ltd (FSC British Virgin Islands, SIBA/L/20/1133) or Exness B.V. (Central Bank of Curacao and Sint Maarten, 0003LSI) or Forexite Ltd. (FSC Belize, 9110312), which has weaker client protection than the licences above.

XM Regulated

Platforms
MT4, MT5
Minimum deposit
$5
Copy trading
XM Copy Trading

4.8/10

Research score Trading carries a high risk of loss.

Check your entity International clients may be onboarded by XM Global Limited (FSC Belize, 8557558), which has weaker client protection than the licences above.

FXTM Regulated

  • FSCA FSP 50320
Platforms
MT4, MT5, FXTM App, FXTM web platform

2.8/10

Research score Trading carries a high risk of loss.

Check your entity International clients may be onboarded by Exinity Limited (FSC Mauritius, C113012295), which has weaker client protection than the licences above.

Frequently asked questions

Which forex brokers are licensed in Nigeria?

None of the 12 brokers we track lists a SEC Nigeria licence. If you live in Nigeria, you would deal with a foreign entity, so check which regulator supervises the company named in your account agreement (checked 2026-09-29).

How do I check a broker's licence in Nigeria?

Search the broker's licence number or legal name on the Securities and Exchange Commission Nigeria (SEC) register. The company on the register must match the one named in your account agreement.

What if the broker is only licensed offshore?

An offshore entity (for example in Seychelles, Belize or Mauritius) usually offers weaker client-money protection and no compensation scheme. You can still open an account, but you are relying on a less strict regulator.