Best Brokers With NGN Accounts 2025
Explore brokers with NGN accounts to enjoy lower conversion fees and direct access to Nigeria’s vibrant market, ensuring seamless transactions tailor-made for local traders.
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1Established in 2008, Exness is a respected broker known for offering over 40 account currencies, a wide choice of CFD instruments, and an intuitive web platform with features like currency converters and trading calculators.
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2Founded in 2019, Quotex is a binary broker providing over 400 assets like forex, stocks, indices, commodities, and cryptocurrencies. The platform focuses on user-friendly features, offering short-term contracts from 5 seconds to 4 hours, with payouts up to 95%.
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3Alpari is an offshore broker offering a variety of forex trading options, along with stock, index, and commodity CFDs. The broker also has fixed costs with pre-defined payouts. Trading is conducted on the trustworthy MT4 and MT5 platforms and the company's mobile app. Alpari is noteworthy for its narrow ECN spreads that cater well to active traders.
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4FXTM, founded in 2011, is a secure forex and CFD broker regulated by top authorities like the FCA, operating globally. They offer over 1,000 markets and three account types for all trader levels. Get a 30% Deposit Bonus - Receive an extra 30% on your deposit, up to $200 for trading.
Compare Brokers
| Broker |  |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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✓ | $10 | 0.01 Lots | 1:Unlimited | ✓ | CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC | CFDs, Forex, Stocks, Indices, Commodities, Crypto | Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY | Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | |
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✓ | $10 | $1 | ✗ | ✗ | ✗ | Binary Options on Stocks, Indices, Forex, Commodities, Cryptos | Web Platform | USD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH | ✗ | ✗ | ✗ | |
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✓ | $5 | 0.01 Lots | 1:1000 | ✓ | FSC, SEBI, JFSA | Forex, CFDs, Stocks, Commodities, Indices, Crypto | MT4, MT5 | USD, EUR, GBP, CZK, NGN | Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | |
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✓ | $200$200 | 0.01 Lots | 1:301:3000 | ✗ | FCA, FSC, CMA | CFDs, Forex, Commodities, Indices, Stocks, Crypto | FXTM Trader, MT4, MT5 | USD, EUR, GBP, NGN | Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | |
| Broker | |
Demo Account |
Minimum Deposit |
Minimum Trade |
Leverage |
Copy Trading |
Regulator |
Instruments |
Platforms |
Account Currencies |
Automated Trading |
AI |
Guaranteed Stop Loss |
Safety Comparison
Compare how safe the Best Brokers With NGN Accounts 2025 are.
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
|---|---|---|---|---|
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✗ | ✓ | ✓ | |
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✗ | ✗ | ✓ | |
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✗ | ✗ | ✗ | |
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✗ | ✓ | ✓ | |
| Broker | Trust Rating |
Guaranteed Stop Loss |
Negative Balance Protection |
Segregated Accounts |
Mobile Trading Comparison
Compare the mobile trading features of the Best Brokers With NGN Accounts 2025.
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
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iOS & Android | ✗ | ||
| Broker | Mobile Apps |
iOS Rating |
Android Rating |
Smart Watch App |
Comparison for Beginners
Compare how suitable the Best Brokers With NGN Accounts 2025 are for beginners.
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
|---|---|---|---|---|---|---|---|
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✓ | $10 | 0.01 Lots | ✗ | ✗ | ||
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✓ | $10 | $1 | ✗ | ✗ | ||
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✓ | $5 | 0.01 Lots | ✗ | ✓ | ||
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✓ | $200$200 | 0.01 Lots | ✗ | ✗ | ||
| Broker | Demo Account |
Minimum Deposit |
Minimum Trade |
Education Rating |
Support Rating |
Fractional Shares |
Demo Competitions |
Comparison for Advanced Traders
Compare how suitable the Best Brokers With NGN Accounts 2025 are for advanced or professional traders.
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
|---|---|---|---|---|---|---|---|---|
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Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | ✗ | ✓ | 1:Unlimited | ✓ | ✗ |
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✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | |
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Expert Advisors (EAs) on MetaTrader | ✗ | ✗ | ✗ | ✗ | 1:1000 | ✓ | ✗ |
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Expert Advisors (EAs) on MetaTrader | ✓ | ✗ | ✗ | ✓ | 1:301:3000 | ✓ | ✗ |
| Broker | Automated Trading |
VPS |
API |
AI |
Pro Account |
Leverage |
Low Latency |
Extended Hours |
Accounts Comparison
Compare the trading accounts offered by Best Brokers With NGN Accounts 2025.
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
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✓ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ | |
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✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | |
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✓ | ✓ | ✗ | ✗ | ✓ | ✗ | ✗ | ✗ | |
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✓ | ✓ | ✗ | ✗ | ✓ | ✓ | ✗ | ✓ | |
| Broker | Demo Account |
Interest on Cash |
Islamic Account |
Joint Account |
Managed Account |
PAMM |
MAM |
LAMM |
Pro Account |
Detailed Rating Comparison
Compare how we rated the Best Brokers With NGN Accounts 2025 in key areas.
| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
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| Broker | Trust |
Platforms |
Assets |
Mobile |
Fees |
Accounts |
Research |
Education |
Support |
Fee and Cost Comparison
Compare the cost of trading with the Best Brokers With NGN Accounts 2025.
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
|---|---|---|---|---|---|---|
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✗ | $0 | 0.5 (Apple Inc.) | 0.0 | Floating | |
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✗ | $0 | N/A | N/A | ||
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✗ | $5 | 2.0 | 0.4 | 1 | |
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✗ | $10 | 0.1 | 0.0 | Variable | |
| Broker | Cost Rating |
Fixed Spreads |
Inactivity Fee |
CFD Stocks Spread |
EUR/USD Spread |
Crypto Spread |
Broker Popularity
See how popular the Best Brokers With NGN Accounts 2025 are in terms of number of clients.
Why Trade With Exness?
Exness is an excellent choice for active forex traders aiming to reduce costs after lowering spreads, enhancing execution speeds, and offering trading on over 100 currency pairs with more than 40 account currencies.
Pros
- Exness Terminal provides an easy experience for beginners with interactive charts, and creating watchlists is simple.
- Exness was the first brokerage to reach monthly trading volumes of $1 trillion and $2 trillion, demonstrating its credibility.
- Wide variety of account types for all experience levels, including Cent, Pro, and the new Raw Spread, ideal for traders.
Cons
- MetaTrader 4 and 5 are supported, but TradingView and cTrader are not available yet, despite increasing demand from traders and their integration with other platforms like Pepperstone.
- Retail trading services are not available in some areas, such as the US and UK, which limits access compared to leading brokers like Interactive Brokers.
- Besides a mediocre blog, educational resources are lacking, especially compared to category leaders like IG, which offer a more comprehensive trading journey for new traders.
Why Trade With Quotex?
Quotex is perfect for binary traders seeking short-term trades on global markets, offering payouts up to 95%. The platform is frequently updated, offers daily trading signals, and is intuitive for new users.
Pros
- Quotex allows trading with a minimum of $10, suitable for beginners and testing the platform with low risk. Withdrawals also start at $10, providing easy fund access.
- The web platform and app are user-friendly, featuring a clean design and easy order execution based on our tests. They offer multiple indicators and built-in trading signals, suitable for both beginners and experienced traders.
- A free demo account with $10,000 in virtual funds allows new traders to practice strategies and test the platform without risking real money. It's a great tool for beginners to gain experience.
Cons
- Quotex has limited market analysis tools and does not provide real-time financial news, economic calendars, or detailed research reports. It also lacks educational resources like courses, webinars, and expert insights, making it less suitable for beginners.
- Customer service is available only through email and social media, which may result in slow response times. Competitors like Videforex offer 24/7 live chat and phone support, allowing for quicker assistance with technical or withdrawal issues.
- Quotex is an offshore broker in a jurisdiction with loose regulations. It lacks the investor protection, dispute resolution, and fund security offered by regulated brokers, making it riskier.
Why Trade With Alpari?
Alpari is suitable for binary options traders who prefer short-term trading. They offer strong charting features, a rebate system, and require only a $5 deposit. Forex traders will appreciate the high leverage and narrow spreads. Additionally, Alpari's PAMM service is ideal for investors who prefer not to manage their trading.
Pros
- ECN accounts offer low or even zero commissions with narrow spreads.
- Copy trading and PAMM services are also accessible for traders.
- The broker provides up to 1:1000 leverage for skilled traders.
Cons
- The market research and analysis tools are restricted.
- The costs for strategy manager copy trading tools are quite high.
- It's disappointing that there aren't as many educational resources as other options offer.
Why Trade With FXTM?
FXTM is perfect for experienced traders with account options for short-term strategies. It has won DayTrading.com's 'Best ECN Account' award and offers reduced tight spreads and VPS support for algorithmic trading.
Pros
- FXTM's Advantage and Advantage Plus accounts provide tight spreads starting from 0.0 pips and charge low or no commissions, aimed at traders seeking to reduce expenses.
- FXTM's UK division provides strong client protections, including coverage up to $1 million per client and segregated accounts, increasing security for traders with large accounts.
- FXTM offers a wide variety of payment methods, especially local options in Africa and Asia like M-Pesa and TC Pay Wallet. E-wallet withdrawals can be processed in just 30 minutes, which is ideal for traders needing fast access to funds.
Cons
- FXTM offers CFDs and a limited selection of stocks, but does not offer ETFs, options, or futures, which may restrict diversification for traders looking for various asset types to exploit different markets.
- FXTM provides only MetaTrader 4/5 for desktop trading and lacks a proprietary platform like eToro for a personalized experience. MT4/5 is becoming outdated for active traders.
- FXTM charges a $10 fee if you do not trade for three months, which is less time than many other brokers and may annoy those who trade infrequently.
Filters
Trading with NGN Accounts
Using brokers that offer NGN (Nigerian Naira) accounts allows traders to handle their investments directly in Nigerian currency. This means you can skip the costs of currency conversion when depositing or withdrawing money. Also, if you use Nigerian payment methods, transactions tend to be quicker.
What Is an NGN Trading Account?
Most brokers offer accounts in widely used currencies like USD, EUR, or GBP. Profits are then converted into the currency you use for banking. With NGN accounts, trading is done directly in Naira, so there’s no need for conversion, saving you money on fees if you’re in Nigeria.
NGN accounts work like any other trading account. You can move money into your account via credit card, wire transfer, or e-wallet, and then transfer your profits back the same way. These accounts are usually available only to people in Nigeria, and you’ll need to prove your residency when signing up.
The Nigerian Naira (NGN)
The Naira (symbol: ₦, code: NGN) is Nigeria’s official currency and is managed by the Central Bank of Nigeria. One Naira equals 100 Kobos. In December 2022, 1 USD was about 446 NGN. The Naira replaced the British Pound in 1973 after Nigeria became independent.
Due to inflation, the value of the Naira decreased notably by 2008. The most common currency pair traded with NGN is the USD/NGN.
Benefits of Brokers with NGN Accounts
No Conversion Costs
If you’re trading in Nigeria using an NGN account, you won’t pay for currency conversion when trading online, saving you money.
Faster Transactions
Money transfers are quicker with NGN accounts since funds are often held within Nigerian banks. Brokers with NGN accounts usually support local payment options like Flutterwave that offer low-cost and speedy transfers.
Regulation
Brokers catering to Nigerian traders often have regulation from trustworthy authorities, giving you confidence that your money is safe.
Finding Brokers with NGN Accounts
To see if a broker offers NGN accounts, check the deposits and withdrawals section on their website. You can also ask their support team if you’re unsure. Alternatively, use brokerlistings.com to discover brokers that provide NGN accounts.
Comparing Brokers with NGN Accounts
- Assets: Different brokers offer different assets like forex pairs in NGN or stocks from the Nigerian Stock Exchange. Look for options including large US stocks and major forex pairs.
- Regulation: A good broker will be backed by reputable regulators such as the FSCA, FCA, CySEC, or ASIC, ensuring your money is secure.
- Platform: The trading platform is crucial, with most offering MetaTrader 4. Some might also offer MetaTrader 5 and cTrader, all popular for their features and ease of use.
- Customer Support: NGN accounts often mean locally based support, making it easier for Nigerian traders to get help.
- Demo Account: Try out strategies or see if a platform suits you with a demo account.
- Educational Material: Good brokers offer resources like articles and webinars to help you learn more about trading.
- Trading Conditions: Consider spreads, fees, and leverage. ECN brokers might offer tight spreads with a commission.
Final Word
While brokers offering NGN accounts are rare, they are beneficial for Nigerian traders, offering speedy payments, cost savings, and regulatory protections. Make sure to research thoroughly to find trustworthy brokers with great educational resources, platforms, and support.
FAQs
What Is an NGN Trading Account?
NGN trading accounts let you manage all your trading activities in Nigerian Naira, lowering conversion fees and ensuring local payment solutions are accepted.
Should I Open an NGN Trading Account?
If you’re trading in Nigeria and want to avoid conversion fees and enjoy faster transactions, an NGN account is a good choice.
How Do I Open an NGN Trading Account?
Find a broker offering NGN accounts, then complete their signup process by providing the necessary information and documentation.
How Do I Choose an NGN Trading Account?
Look at regulatory oversight, platforms, assets, fees, educational materials, and customer support when selecting brokers with NGN accounts. Check our full guide for more tips.
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Thank you for using this guide to better understand trading with NGN accounts!