07/01/ · Top 10 Forex Brokers In Nigeria. Our best registered forex brokers in Nigeria for July are: Pepperstone - MT4 Best Forex Trading Platform. AvaTrade - Best Fixed Spread Trading Account. FP Markets - STP Forex Trading Account. FXTM - Nigerian Naira (NGN) Funding. IC Markets - Lowest Spread Nigerian Broker 29/11/ · HotForex is licensed by a number of regulators, so we consider it to be a safe broker. HF Markets (UK) Ltd is licensed and regulated by the Financial Conduct Authority or FCA (reference number ).; HF Markets (Europe) Ltd is regulated by Cyprus Securities and Exchange Commission (CySEC) (license number /12).; HF Markets SA (PTY) Ltd is Broker Name: Hotforex Nigeria HotForex is a multi-regulated CFD broker providing traders access to opportunities in the financial 3rd Floor, Wuraola House, 90 Allen Avenue, Ikeja, Lagos, Nigeria Agency: Financial Service
HotForex In Nigeria | Review | Is Hotforex A Good Broker?
In this article, we reviewed and tested multiple forex brokers serving traders based in Nigeria. The Central Bank of Nigeria CBN is the sole authority tasked with regulating online trading but is yet to start issuing licenses to Fores brokers. Therefore, we compiled a list of reputable brokers licensed by tier 1 and 2 regulators globally that serve Nigerian traders. Then, hot forex office in nigeria, we placed live trades of the most popular assets to determine the actual spreads.
Finally, we withdrew our funds to assess whether the withdrawal process was smooth. We handpicked the best forex brokers based on the trading data collected and our experience as traders. Forex brokers in Nigeria are authorized by the Central Bank of Nigeria CBN to operate in Nigeria. We suggest investors and traders follow the CBN on Twitter, cenbankto get the latest news and updates. These are hot forex office in nigeria brokers who adhere to the stringent rules set by tier 1 and 2 regulators.
In addition, many of them offer customer deposit compensation schemes if the broker goes bankrupt. We shall promptly update this list once the CBN starts issuing licenses to Forex brokers as the Nigerian Forex trading industry hot forex office in nigeria. We tested and reviewed 5 forex brokers operating in Nigeria by opening live accounts, depositing real moneyand placing actual trades to select the best forex brokers.
We wanted to accurately determine the actual spreads and commissions, the trading platform, deposit and withdrawal conditions, trader education, and customer service. We picked Pepperstone as the best overall forex broker in Nigeria. Pepperstone offers the full package for a good broker.
Opening an account is smooth. The spread is competitive at 1. Furthermore, the broker provides great educational and trading tools, including video tutorials, webinars, Autochartist and more. The broker recently added social trading platforms Myfxbook and DupliTrade. The best Forex broker for beginners in Nigeria is IC Markets, which has in-depth and well-structured educational content.
The broker also holds frequent webinars that educate beginner traders on various aspects of trading. Traders can learn about fundamental and technical analysis, including how to apply the same to their trading. The broker has invested heavily in its education program to give its clients a headstart when trading the markets, hot forex office in nigeria.
Traders can learn via various formats, including high quality pre-recorded videos, written texts and live webinars. The best MT4 broker in Nigeria is XM, which offers the MT4 and MT5 trading platforms. XM offers both the web version of the MT4 platform and the mobile and desktop version of the popular trading app to Nigerian traders. Here are other important details about the tests we conducted on the five Nigerian Forex brokers discussed above:.
Traders usually have numerous questions related to trading, for trading-related queries we pick and answered some of the most important questions related to Nigeria regulated brokers.
Forex traders based in Nigeria can start trading Forex without having to deposit any of their money as some brokers offer no deposit bonuses. While the no deposit bonus is an easy way to start trading, you should know that most brokers have many rules regarding such bonuses, and you might have to trade a certain number of lots before you can withdraw your winnings.
Given that many of the brokers reviewed are headquartered and licensed in overseas countries, it was a relief to find that one of them has a local office in Nigeria. HotForex and FXTM have actual offices in Lagos, Nigeria, that provides local support to Nigerian traders. In our experience, having a local support team typically improves the quality of customer service offered to clients.
While our recommended broker for beginner traders is IC Markets there are other brokers that offer excellent training resources for beginners. One such broker is XM, which has a detailed educational offering that equips beginner traders with most of the skills needed to trade the markets.
FXTM and Pepperstone are the two brokers that offer swap-free Islamic Forex trading accounts in Nigeria. Many Nigerian forex traders assume that they are not obliged to pay taxes for forex trading in Nigeria.
However, this is just a misperception. In reality, forex trading gains are seen as capital gains in Nigeria. All Nigerian residents should pay taxes for forex trading even if the profits are from an outside source. Forex traders in Nigeria are responsible for filing tax forms to the Federal Inland Revenue Service, hot forex office in nigeria. In case, they fail to pay taxes they may face penalties. I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.
Everything you find on BrokerTested is based on reliable data and unbiased information. Read more about our methodology.
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CBN Hot forex office in nigeria Forex Brokers in Nigeria Forex brokers in Nigeria are authorized by the Central Bank of Nigeria CBN to operate in Nigeria. Some of the key highlights of trading hot forex office in nigeria CBN regulated brokers: ��Nigeria Regulator Central Bank of Nigeria CBN ��Max.
Best Forex Broker for Beginners in Nigeria The best Forex broker for beginners in Nigeria is IC Markets, which has in-depth and well-structured educational content. Best MT4 Broker Nigeria The best MT4 broker in Nigeria is XM, which offers the MT4 and MT5 trading platforms. No Deposit Bonus Forex Brokers Forex traders based in Nigeria can start trading Forex without having to deposit any of their money as some brokers offer no deposit bonuses.
Forex Brokers With Offices in Nigeria Given that many of the brokers reviewed are headquartered and licensed in overseas countries, it was a relief to find that one of them has a local office in Nigeria. Best Forex Brokers for Beginners While hot forex office in nigeria recommended broker for beginner traders is IC Markets there are other brokers that offer excellent training resources for beginners.
Pepperstone also has an excellent suite of educational materials for all levels of traders. Swap-Free Forex Brokers in Nigeria FXTM and Pepperstone are the two brokers that offer swap-free Islamic Forex trading accounts in Nigeria. Tax in Nigeria for Forex Trading Many Nigerian forex traders assume that they are not obliged to pay taxes for forex trading in Nigeria. Author of this review By George Rossi.
Author of this review I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.
Now I am passionate about reviewing and comparing forex brokers. Leave a Reply Cancel reply Your email address will not be published.
Interview with the Head of HF Education Center in Nigeria
, time: 9:49HOTFOREX OFFICE LOCATIONS AND SUPPORT TEAM REVIEW
Hotforex Live Account, Did write on their live chat just to be sure, and. What is best Nigerian forex broker?Brokers like IC Markets, Direct FX, Oanda, XM, Hot Forex or Local offices, translated versions of the broker's website in the local Hot Forex received the 'Best Client Funds Protection Broker Award' last year in 26/03/ · The spreads at Hotforex are comparatively lower than most of the brokers in Nigeria. Hotforex allows free deposits and withdrawals through local banks of Nigeria. Excellent customer support with 24/5 live chat, email, and local phone number during business hours. low minimum deposit of ₦ to start trading 04/01/ · The HotForex office location can be found in their home country, Cyprus, with the HF offices located at 50 Spyrou Kyprianou, at the Irida 3 tower in the 10th floor, Larnaca, Cyprus. Besides that, a newer HotForex office location can be found in Johannesburg, South Africa. The aforementioned HotForex office locations provide excellent and
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