Safety — XM is licensed by the UK FCA and International Financial Services Commission IFSC , Belize. Nigerian traders are registered under their regulation in Belize. Fees — They have low spreads with Ultra-Low Account, starting at 0. Their overall spreads are relatively high. XM Also charges commissions with the Shares Account. The broker has high Swap Fees for most instruments.

XM does not charge deposit and withdrawal fees, and no commissions for opening positions or closing them. Account — XM has 4 trading account types and an Islamic account with zero swaps. XM has negative balance protection that prevents you from losing more money than you have in your XM account. Trading Application — Trading applications supported by XM are the MetaTrader 4 and MetaTrader 5 accessible on the web, desktop and mobile devices iOS and Android.

Cards and e-wallets like Skrill, and Webmoney deposits are credited instantly or within a few hours. Withdrawals can be made via wire transfers to bank accounts and received within a few days or to cards and e-wallets and received within a few minutes. Support — XM offers good support. The education and research section of the website is very informative and helpful for new traders to learn from forex webinars, trade ideas, economic calendars and tutorials among others.

They have email, live chat, and international phone number support. You can reach them 24 hours Mondays through Fridays. AvaTrade is an online trading platform that offers trades for 55 currency pairs, 18 commodities energies, metals, oil , 44 FX options, 32 indices, stocks, and 20 cryptocurrency pairs. So they are considered low risk and have a high trust score. Traders from Nigeria are registered under Ava Trade Markets Ltd which is registered under BVI Financial Services Commission.

Fees — CFD Trading at AvaTrade is commission-free, and there are no deposit or withdrawal fees. AvaTrade spreads are fixed and competitive. The benchmark spread is 0. Their Swap fees are not the lowest though. Deposits with cards are credited instantly. They also have negative balance protection. Trading Application — AvaTrade Supports the MT4 and MT5 trading platforms as well their own proprietary AvaTrader for web trading and AvaTradeGo mobile app available on iOS and Android.

AvaSocial is another mobile trading application by AvaTrade that supports trade copying by allowing new traders to chat with expert traders and benefit from their expertise by copying their trades.

AvaTradeGo app features a user-friendly design, offering trading tools to newbie and experienced traders alike. Regular news updates, useful e-books, video tutorials, indicators and educational materials available on the platform is useful to those who are just diving into the world of online forex trading.

They have a Nigerian phone number For support. They have Frequently Asked Questions on their website to answer many questions traders may have. FXTM Trader is a provider of financial trading services, offering over trade instruments, including CFDs for 3 commodities, 1, shares, CFDs stocks, 5 stock baskets, cryptocurrencies, 5 metals, 16 16 indices, 6 FX indices, and 60 currency pairs.

Safety — The company is registered as ForexTime Limited in Cyprus and is well regulated by CySEC, FCA, and FSCA. Which makes the broker score high on trust and is considered safe. Trders from Nigeria are registered under their license in Mauritius as Exinity Limited.

Fees — Deposits are free of charge and the average spread fee is around 2. Naira accounts can also be maintained on the platform. FXTM provides loyalty cashback bonuses to their traders from time to time. These loyalty bonuses can be withdrawn to your bank account if you reach the target amount.

Account Features — FXTM offers 3 trading accounts as well as an Islamic Account option for Muslim traders. Different FXTM account types determine the kinds of instruments you can trade. The broker also offers negative balance protection on all account types. Trading Application — FXTM supports MT4, MT5, and FXTM Trader which is owned by FXTM. The broker has multi-platform support, meaning you can trade on the web or use their mobile apps available on iOS and Android devices.

This includes personal account managers, who can assist and support you in your trading journey. You might have tried one or two forex trading apps. But you should know that choosing a reliable Forex trading app is very important in your success as a forex trader. The level of trust accorded to a forex broker is determined by the category of regulators that have licensed the broker. If a broker is regulated with multiple trusted authorities, it is a good sign.

And if the broker is publicly listed or is a banking institution, that makes it even better. Refer to the below screenshot. But HF Markets Broker is regulated under multiple Top-tier regulations, which is a good sign of trust.

Most brokers currently charge zero fees for withdrawals, deposits, and, while being competitive with the spread and swap rates. Say the bid price is 1. If you hold the position overnight, then there will also be Holding charges i. Swap Fees. Ensure there are no hidden fees, commissions costs are affordable, and the spread is not too wide, before using a brokerage app. This is especially valuable for custom indicators and common timeframes. Mobile apps should feel familiar to users of the same desktop app.

The eToro mobile app is famous for its simple, intuitive design and its similarity to the eToro desktop trading platform.

There is nothing worse than a Forex trading app crashing when you the markets are moving against your position. A stable trading app is an absolute necessity. This provides a smoother and more stable trading experience. AvaTrade has the best Forex trading app. Its flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in at the Global Forex Awards. AvaTrade has invested a lot of time and money into AvaTradeGo and the results are clear. AvaTradeGo was voted the Best Forex Trading App at the Global Forex Awards.

AvaTradeGo provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive management tools, clear charts, zoom for details, and many more helpful features unique to this app. The advantages of the best Forex trading apps are the convenience, mobility, and quick response time they provide for traders. Before smartphone trading apps, Forex traders had to close all their positions when they left their desk and accessing Forex news and data was difficult.

With a trading app, you can keep trading when you leave your desk. But now all aspects of Forex trading can be achieved via a trading app. Most apps will allow you to open and close positions, use advanced charting to analyse the market and keep abreast of breaking news and economic data that affect the markets. While Forex trading apps are convenient, they also allow traders to continue all aspects of Forex trading while on the go.

With a trading app, you can track your positions , even when you are out shopping. Whether you are commuting to work on a train, or walking down the street to go shopping, you can keep track of your positions and the market movements. Trading apps allow traders to respond to market movements in an instant. Rather than having to wait until you are at your PC to take advantage of price movements, you can open or close an order immediately with the tap of your screen.

Small screens, distractions while you are on the move, slow execution speed and the potential for overtrading are all disadvantages of mobile trading that you should be aware of.

Professional traders use two monitors with multiple charts and often hold numerous open trades. You cannot do this on a small mobile screen without the risk of missing important details. Mobile traders should be aware of the charting limitations on their app. Mobile traders should try to limit the number of open trades and be aware of the charting limitations on their trading app. Mobile devices are designed to be with you when you are doing other things. Trading while you are doing other tasks can be a dangerous game.

Trading when you are doing other tasks is a dangerous game. If you are trading on a mobile device, make sure that you have taken the time and space to judge your trading decisions before following through. While execution speeds on the best mobile trading apps are good, you should not use them for scalping. Mobile networks are getting faster all the time, but there will always be a delay relative to a desktop trading environment.

Often, the best move when trading is to do nothing — especially when you are on the move and without access to the tools and charts you have at your desk. With the convenience of a mobile trading app, there is the danger that you will be tempted to trade too often, and in ways that you would not normally do when at your desk.

Mobile trading apps are not a replacement for a desktop platform. While their convenience is undeniable, there is just too much space for distraction and overtrading while on a mobile device.

The best Forex trading apps can achieve some of the aspects of the best trading platforms but will never be able to match a desktop platform for analysis and execution speed. Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss.

Learn more from the FCA or from ASIC. Our State of the Market Report and Broker Directory are the results of extensive research on over Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers — and steer them away from the worst ones — with the benefit of accurate and up-to-date information.

With over data points on each broker and over hours of research and review writing, we believe we have succeeded in our goal. In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and sifting through the fine print. Learn more about how we rank brokers. References Here are the resources that were used to research and write this article. Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.

By Chris Cammack. AvaTrade - Best Forex Trading App HFM HotForex - Best App for Forex Analysis FBS - Highest Leverage Mobile Trading XM - Fastest Execution Speed Skilling - Best Trading App for Beginners IC Markets - Best cTrader Mobile Experience markets. com - Most Instruments to Trade in an App XTB - Best Regulated Trading App FXTM - Best App for Automated Trading.

Best Forex Trading Apps Scroll for more details. Overall Rating. Official Site. Mobile App. Apple Score. Google Score. Analytical Tools. Forex Calendar. Forex Analysis News Feed. Watch List. read our detailed Alpari review to see why we ranked them 6 in platforms. Forex trading platforms can vary across a wide array, offering distinct functionalities and features.

To find the best fit, asking the right questions is important. If you are a new trader, you would require user-friendly, simple platforms without many indicators or complex order capabilities that could confuse you. Professional or advanced traders could need more advanced indicators on charts and tools, including EAs and code add-ons directly implemented into the platform.

Nigerian forex traders should only choose a platform that is most fit for their trading strategy. Good forex trading platforms simplify research and analysis, making it easy to use even the advanced charting tools, and EAs. In general, be sure to look for one with excellent trading capabilities, live data without any delays, flexible charting tools, EAs and quick order execution. Here are the tips that you should consider while choosing the forex trading platform:. Some brokers only permit trading through a web-based interface, or only mobile without any desktop interface.

Choose a broker that offers trading platforms compatible across devices, like mobile and tablet, and also desktop, so you can trade on the go or remotely with ease.

You may suddenly need to open or close your orders, even when you are not in-front of your trading screen, so a broker that offers platform with mobile interface would allow you to do just that.

A good platform will offer you the ability to place multi order types. The most common orders that you may need to place in the market are Market orders, Limit Entry orders, Stop Entry orders, Stop Loss orders, Trailing Stop, One-Triggers-the-Other and many more. For advanced traders, availability of multiple order types should be a very important requirements. So it is even more important for traders to only go for a platform that allows placing all various different types of orders.

Orders should be placed quickly and the trading platform should have a good past record for managing re-quotes with minimal downtime. Any delay in your order execution can be a difference between a profitable trade or a loss.

Does your trading platform offer wide charting tools like trendlines, moving averages, EAs, ability to add technical indicators, and more? A good trading platform should offer easy access to many technical tools for analyzing the financial instruments and markets.

The platform should also have a multitude of features and functionalities, ranging across browsing charts simultaneously, changing chart types, scheduling and automatic transaction execution, analysis tools and news updates. Notifications, alerts, analytical objects, technical indicators, and charting tools should be up to the mark. Even if you are not to fundamental trader, you still cannot ignore the news. For this reason, news and educational updates on the platform can offer valuable market intelligence for all traders.

Advanced and intermediate traders can benefit from news updates which offer actionable insights before placing any trade. Moreover, updates on training and free video tutorials in a platform, FAQs and multilingual support are good bonus for beginner traders. These offer a good opportunity to get well acquainted with trading tools and build your expertise or further hone your trading skills. On each trade executed, you will be charged a fixed or a variable spread by the broker.

Moreover, be sure to check out if there are any commissions and hidden charges for using the platform. Although platforms at most brokers are free, some brokers may even charge extra fees for using their platform, and they may also charge extra fees during inactivity. The trading platform is one of the most important considerations you need to take into account while searching for the right FX broker in Nigeria.

The platform should have an easily usable with symbols like currencies and analysis on different time frames. Technical indicators should be readily accessible. Exceptional forex trading platforms should have accurate forex quotes and reliable trade execution. good order placement, management of accounts, technical and fundamental analysis tools, strong data security and minimize system downtime. So it is best to choose a broker that offers Metatrader platforms.

Any forex broker that is well-regulated with multiple top-tier regulations, has low fees, MetaTrader platform, easy withdrawals are considered good.

Beginners should consider platform of a broker that is regulated with one or more Top-tier regulations. This makes it a safe platform for traders, and you can be assured that your trading funds are protected.

We have listed the Forex Trading apps of CFD brokers that are considered safe for traders in Nigeria. There are many factors to consider when choosing a forex trading app. A bad app will get in the way of you opening, and closing trades effectively, cause issues with withdrawals. And can lead you to forex fraud. Because there are many apps, it is easy to get confused in making a selection.

We picked the best Forex apps in Nigeria from studying several apps, their safety, fees, withdrawals, ratings and community reviews. HF Markets is a CFD broker that offers its App to trade 53 Currency pairs, CFDs on DMA Stocks, 54 Shares, 5 Commodities futures, 6 Metals, 4 Energies, 34 ETFs, 3 bonds, and 23 Indices.

Also by Dubai Financial Services Authority DFSA and Financial Services Authority FSA in Seychelles. Fees — Their CFD trading fees are considered low as per our comparison. Their average spread for majors like EURUSD is 1. HF Markets Zero Spread Account has spreads starting from 0.

HF Markets does not charge deposit or withdrawal fees. Accounts — HF Markets offers six 5 types of trading accounts, with varying spreads, including an Islamic account, so you can choose the one that best suits your trading needs. HF Markets has negative balance protection that prevents you from losing more money than you have in your trading account.

The mobile app has most of the tools you need to manage your trades on available CFD instruments from anywhere. While you can deposit and withdraw directly from this app, it does not fully cover the functionality of the HF Markets website. Dollar deposits take about 2 to 7 days to be credited. It takes about 10 minutes to reflect in your account.

HF Markets supports direct withdrawal to your Nigerian bank account and funds are received within 24 hours. It takes 2 to 10 business days to receive funds if you want the money transferred to a dollar bank account, and some charges might apply by the correspondent and receiving bank.

They also have local phone support in Nigeria. Their support is good as per our tests. Exness is one of the low-cost beginner-friendly CFD brokers that accept traders based in Nigeria.

Financial instruments offered by Exness are 99 forex pairs and CFDs on 3 energies, 10 metals, 10 indices, 98 stocks and 35 cryptocurrencies. Safety — Exness was founded in and they are registered in Seychelles as Nymstar Limited.

Traders from Nigeria are registered under this regulation. This makes them a low-risk and safe CFD broker for traders in Nigeria. Fees — The spread for the majority of CFD instruments is tight, with an average for majors like AUDUSD being 1. Exness offers free deposits and withdrawals, with no commission on trades with Standard Account. Account — Exness offers 5 types of trading accounts with different features. They also have Raw Spread and Zero Spread Accounts with spreads starting from 0.

You can also apply for an Islamic Swap-free account on Exness. Exness has negative balance protection that prevents you from losing more money than you have deposited into your account. Trading Application — Exness is a MetaTrader-based CFD trading platform with MetaTrader 4 and 5, which provides standard and professional account types.

The web trading platform is available, while the app is available for download from the App Store and Google Play Store. You can run your custom scripts for automated trading on their MetaTrader platform. For secure connection, Exness encrypts all communication between the server and trading platform with bit keys. The app has a Margin Calculator that easily determines your margin size, swap rates and pip values before placing a trade. It also has a converter to help you calculate the currencies exchange rate.

A Calculator is also available on their website. Exness has MT4 MultiTerminal which allows you to manage multiple accounts, place new orders and allocate lots across various accounts simultaneously and monitor real-time positions.

Online bank transfers deposits in Nigeria are credited within 5 hours while withdrawals can take 24 hours. Deposits via cards are credited within 5 business days and withdrawals can take up to 10 business days. OctaFX is a forex broker that offers trading services on 35 currency pairs, CFDs on 4 indices, 5 cryptos, 2 metals, and 3 energies through the MT4 and MT5 platform, with the web-based platform and mobile app for android only.

Safety — OctaFX is considered a moderate-risk platform because it is licensed by only 2 Tier-2 regulators i. CySEC in Cyprus and FSCA in South Africa, with no Tier-1 license. OctaFX is incorporated in St. Vincent and the Grenadines, and traders from Nigeria are registered under this regulation.

The personal data and financial transactions of customers are protected on the web and mobile platform through bit encryption. Fees — OctaFX fees are moderate with spreads starting from 0. Deposits and withdrawals are free of charge, there are no commission fees on trades.

Account — OctaFX offers 2 account types on different platforms, The MT4 and MT5 Accounts. OctaFX has negative balance protection which means that you cannot lose more funds than your deposit. Trading Application — OctaFX supports the MetaTrader applications for trading. You can OctaFX platform via the MT4 and MT5 trading platform on the web and mobile devices iOS and Android.

OctaFX offers both Copy Trading and Auto Trading features to its clients. You may use them to trade in any market conditions and with any listed currency pair. OctaFX has online tools for analysis like market insights, economic calendar, converter and calculator. Deposits can also be made in cryptocurrencies like bitcoin, dogecoin, and a few others, which are credited within 30 minutes. Withdrawals to cards are not supported currently.

All withdrawals requests are processed within 3 hours and may take another 1 for the funds to be transferred. You can trade 55 forex pairs and CFDs on 31 cryptocurrencies, 1, stocks, 8 commodities, 24 indices, 4 metals, 5 energies and shares. Safety — XM is licensed by the UK FCA and International Financial Services Commission IFSC , Belize. Nigerian traders are registered under their regulation in Belize. Fees — They have low spreads with Ultra-Low Account, starting at 0. Their overall spreads are relatively high.

XM Also charges commissions with the Shares Account. The broker has high Swap Fees for most instruments. XM does not charge deposit and withdrawal fees, and no commissions for opening positions or closing them. Account — XM has 4 trading account types and an Islamic account with zero swaps. XM has negative balance protection that prevents you from losing more money than you have in your XM account. Trading Application — Trading applications supported by XM are the MetaTrader 4 and MetaTrader 5 accessible on the web, desktop and mobile devices iOS and Android.

Cards and e-wallets like Skrill, and Webmoney deposits are credited instantly or within a few hours. Withdrawals can be made via wire transfers to bank accounts and received within a few days or to cards and e-wallets and received within a few minutes. Support — XM offers good support. The education and research section of the website is very informative and helpful for new traders to learn from forex webinars, trade ideas, economic calendars and tutorials among others.

They have email, live chat, and international phone number support. You can reach them 24 hours Mondays through Fridays. AvaTrade is an online trading platform that offers trades for 55 currency pairs, 18 commodities energies, metals, oil , 44 FX options, 32 indices, stocks, and 20 cryptocurrency pairs. So they are considered low risk and have a high trust score. Traders from Nigeria are registered under Ava Trade Markets Ltd which is registered under BVI Financial Services Commission.

Fees — CFD Trading at AvaTrade is commission-free, and there are no deposit or withdrawal fees. AvaTrade spreads are fixed and competitive.

The benchmark spread is 0. Their Swap fees are not the lowest though. Deposits with cards are credited instantly. They also have negative balance protection. Trading Application — AvaTrade Supports the MT4 and MT5 trading platforms as well their own proprietary AvaTrader for web trading and AvaTradeGo mobile app available on iOS and Android. AvaSocial is another mobile trading application by AvaTrade that supports trade copying by allowing new traders to chat with expert traders and benefit from their expertise by copying their trades.

AvaTradeGo app features a user-friendly design, offering trading tools to newbie and experienced traders alike. Regular news updates, useful e-books, video tutorials, indicators and educational materials available on the platform is useful to those who are just diving into the world of online forex trading.

They have a Nigerian phone number For support. They have Frequently Asked Questions on their website to answer many questions traders may have. FXTM Trader is a provider of financial trading services, offering over trade instruments, including CFDs for 3 commodities, 1, shares, CFDs stocks, 5 stock baskets, cryptocurrencies, 5 metals, 16 16 indices, 6 FX indices, and 60 currency pairs. Safety — The company is registered as ForexTime Limited in Cyprus and is well regulated by CySEC, FCA, and FSCA.

Which makes the broker score high on trust and is considered safe. Trders from Nigeria are registered under their license in Mauritius as Exinity Limited.

Fees — Deposits are free of charge and the average spread fee is around 2. Naira accounts can also be maintained on the platform.

FXTM Trader is a provider of financial trading services, offering over trade instruments, including CFDs for 3 commodities, 1, shares, CFDs stocks, 5 stock baskets, cryptocurrencies, 5 metals, 16 16 indices, 6 FX indices, and 60 currency pairs. Best Forex Trading Apps Scroll for more details. AvaTrade - Best Forex Trading App HFM HotForex - Best App for Forex Analysis FBS - Highest Leverage Mobile Trading XM - Fastest Execution Speed Skilling - Best Trading App for Beginners IC Markets - Best cTrader Mobile Experience markets. Olymp Trade App. It is mandatory to procure user consent prior to running these cookies on your website. Safety — XM is licensed by the UK FCA and International Financial Services Commission IFSC , Belize. Top 10 Brokers.

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