Forex brokers for traders in Nigeria

25 of 25 brokers don’t name Nigeria as a restricted country. 0 do, and are left out below. Many brokers publish only a partial list, so “not restricted” is not confirmation that you can open an account.

Updated 11 Oct 2026

Local regulator

Securities and Exchange Commission Nigeria (SEC)

Draft SEC rules published 1 Sep 2026 would require introducing-broker licensing, cap retail leverage at 1:400 and prohibit referral incentives. Not yet in force.

Sources: Nairametrics on SEC draft rules

Brokers with a local licence

None of the brokers in our dataset list a licence from Nigeria’s regulator. Clients are typically onboarded by an offshore entity, with fewer protections.

Cashback status: offered with caution (details).

Ranked brokers not restricting Nigeria

Affiliate disclosure: links marked “Visit” go through our redirect and may earn us a commission from the broker. That never changes the data, the score or check results, which are computed by the same published method for every broker. Full disclosure.

1Fusion Markets85.8/100
Regulators
ASICCySECVFSC+1
Min. deposit
$0
Raw comm. / side
$2.25
NG status
Not on partial list
2Exness85.4/100
Regulators
CySECFCAFSCA+6
Min. deposit
$0
Raw comm. / side
$3.50
NG status
Not on partial list
3Axi82.1/100
Regulators
ASICFMAFCA+2
Min. deposit
$100
Raw comm. / side
$2.25
NG status
Not on partial list
4Pepperstone81.9/100
Regulators
ASICFCACySEC+3
Min. deposit
$0
Raw comm. / side
$3.50
NG status
No list published
5Tickmill81.5/100
Regulators
FCACySECDFSA+2
Min. deposit
$100
Raw comm. / side
$3.00
NG status
Not on partial list
6Vantage81.1/100
Regulators
ASICFSC (Mauritius)FSCA+1
Min. deposit
$50
Raw comm. / side
$3.00
NG status
Not on partial list
7XTB79.5/100
Regulators
KNFFCACNMV+2
Min. deposit
$0
Raw comm. / side
—
NG status
Not on partial list
8IC Markets77.8/100
Regulators
ASICCySECFSA (Seychelles)
Min. deposit
$200
Raw comm. / side
$3.50
NG status
Not on partial list
9Eightcap75.8/100
Regulators
ASICFCACySEC+3
Min. deposit
$100
Raw comm. / side
$3.50
NG status
Not on partial list
10XM73.1/100
Regulators
FSC (Mauritius)FSCACMA (Kenya)+2
Min. deposit
$5
Raw comm. / side
—
NG status
Not on partial list
11FXTM72.5/100
Regulators
FSC (Mauritius)FSCASCA+1
Min. deposit
$30
Raw comm. / side
$3.50
NG status
Not on partial list
12BlackBull Markets60.4/100
Regulators
FSA (Seychelles)NZ FSPR
Min. deposit
—
Raw comm. / side
$3.00
NG status
Not on partial list
13PU Prime60.3/100
Regulators
FSC (Mauritius)FSA (Seychelles)FSA (SVG)
Min. deposit
$20
Raw comm. / side
$3.50
NG status
Not on partial list
14FBS57.6/100
Regulators
FSC (Belize)
Min. deposit
$5
Raw comm. / side
—
NG status
Not on full list
15RoboForex47.3/100
Regulators
FSC (Belize)
Min. deposit
—
Raw comm. / side
—
NG status
Not on partial list
FP MarketsProvisional (limited data)
Regulators
ASICCySECFSCA+2
Min. deposit
—
Raw comm. / side
—
NG status
Not on partial list
IGProvisional (limited data)
Regulators
FCABaFinASIC+4
Min. deposit
—
Raw comm. / side
—
NG status
Not on partial list
HFMProvisional (limited data)
Regulators
CySECFCAFSCA+3
Min. deposit
$0
Raw comm. / side
—
NG status
Not on partial list
AvaTradeProvisional (limited data)
Regulators
CBIASICJFSA+5
Min. deposit
$100
Raw comm. / side
—
NG status
No list published
OctaProvisional (limited data)
Regulators
CySECFSC (Mauritius)FSCA+2
Min. deposit
—
Raw comm. / side
—
NG status
No list published
VT MarketsProvisional (limited data)
Regulators
FSC (Mauritius)FSCASCA
Min. deposit
—
Raw comm. / side
—
NG status
Not on partial list
ThinkMarketsProvisional (limited data)
Regulators
CySECFSA (Seychelles)Saint Lucia reg.
Min. deposit
—
Raw comm. / side
—
NG status
Not on partial list
Plus500Provisional (limited data)
Regulators
FCACySECASIC+8
Min. deposit
—
Raw comm. / side
—
NG status
Not on partial list
eToroProvisional (limited data)
Regulators
FCACySECFSRA+4
Min. deposit
—
Raw comm. / side
—
NG status
No list published
StartraderProvisional (limited data)
Regulators
FSCAFSC (Mauritius)FSA (Seychelles)
Min. deposit
—
Raw comm. / side
—
NG status
Not on partial list

Brokers for Nigeria ranked by score
#	Broker	Score · Data behind score	Regulators	Min. deposit	Raw comm. / side	NG status
1	Fusion Markets	85.8/100100% data	ASICCySECVFSCFSA (Seychelles)	$0	$2.25	Not on partial list
2	Exness	85.4/100100% data	CySECFCAFSCAFSC (Mauritius)+5	$0	$3.50	Not on partial list
3	Axi	82.1/100100% data	ASICFMAFCADFSA+1	$100	$2.25	Not on partial list
4	Pepperstone	81.9/10090% data	ASICFCACySECDFSA+2	$0	$3.50	No list published
5	Tickmill	81.5/100100% data	FCACySECDFSAFSCA+1	$100	$3.00	Not on partial list
6	Vantage	81.1/100100% data	ASICFSC (Mauritius)FSCAVFSC	$50	$3.00	Not on partial list
7	XTB	79.5/100100% data	KNFFCACNMVCySEC+1	$0	—	Not on partial list
8	IC Markets	77.8/100100% data	ASICCySECFSA (Seychelles)	$200	$3.50	Not on partial list
9	Eightcap	75.8/10090% data	ASICFCACySECSCB+2	$100	$3.50	Not on partial list
10	XM	73.1/100100% data	FSC (Mauritius)FSCACMA (Kenya)FSC (Belize)+1	$5	—	Not on partial list
11	FXTM	72.5/100100% data	FSC (Mauritius)FSCASCACMA (Kenya)	$30	$3.50	Not on partial list
12	BlackBull Markets	60.4/10090% data	FSA (Seychelles)NZ FSPR	—	$3.00	Not on partial list
13	PU Prime	60.3/100100% data	FSC (Mauritius)FSA (Seychelles)FSA (SVG)	$20	$3.50	Not on partial list
14	FBS	57.6/100100% data	FSC (Belize)	$5	—	Not on full list
15	RoboForex	47.3/10090% data	FSC (Belize)	—	—	Not on partial list
–	FP Markets	Provisional (limited data)70% data	ASICCySECFSCACMA (Kenya)+1	—	—	Not on partial list
–	IG	Provisional (limited data)60% data	FCABaFinASICFMA+3	—	—	Not on partial list
–	HFM	Provisional (limited data)80% data	CySECFCAFSCACMA (Kenya)+2	$0	—	Not on partial list
–	AvaTrade	Provisional (limited data)80% data	CBIASICJFSAFSRA+4	$100	—	No list published
–	Octa	Provisional (limited data)70% data	CySECFSC (Mauritius)FSCAMISA+1	—	—	No list published
–	VT Markets	Provisional (limited data)70% data	FSC (Mauritius)FSCASCA	—	—	Not on partial list
–	ThinkMarkets	Provisional (limited data)60% data	CySECFSA (Seychelles)Saint Lucia reg.	—	—	Not on partial list
–	Plus500	Provisional (limited data)60% data	FCACySECASICFMA+7	—	—	Not on partial list
–	eToro	Provisional (limited data)70% data	FCACySECFSRAASIC+3	—	—	No list published
–	Startrader	Provisional (limited data)70% data	FSCAFSC (Mauritius)FSA (Seychelles)	—	—	Not on partial list

Score out of 100, computed from the sourced fields only; see methodology. “Provisional (limited data)” means less than 90% of the score’s weight has verified data, so we show no number or rank for it. A dash means the broker’s site didn’t state the value. “Visit” links are not shown in countries where we don’t promote brokers.

Risk warning: CFDs and leveraged forex are complex instruments and carry a high risk of losing money rapidly due to leverage. Most retail accounts lose money. Only trade with money you can afford to lose. Nothing on this site is investment advice. Read the full risk warning.