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Best Stock Brokers in Nigeria and their Features 2022

Best Stock Brokers in Nigeria and their Features 2022

The Nigerian stock exchange market is among the largest in Africa. Trading has been made easy by many stockbrokers in the country. Before choosing the best stock broker for you, consider some aspects such as the account type, Commission fees and spreads, General and Nigerian Regulations, and the trading software and platform.

1. eToro

eToro is an Israeli multinational social trading and multi-asset investment company. It was founded in 2009 with the aim of providing financial and copy trading services. The company’s headquarters is located in Central Israel.

The spreads and commission fees start from $0, with fixed dealing spreads. It has deposit and withdrawal fees, but zero account fees. The minimum deposit for both retail and professional accounts is $200, with the leverage of up to 1:400 for the professional account.

2. AvaTrade

With its headquarters in Dublin, Ireland AvaTrade is an online foreign exchange and contract for different brokers, founded in 2006. It functions in five continents, with thousands of traders from these continents.

With spreads of as low as 0.9 pips. The minimum deposit is $100, with zero deposit and withdrawal fees. The leverage is up to 400:1.

3. XTB

XTB is among the largest stock exchange FX & CFD brokers in the world. It has 15 years of activity with more than 495,000 customers in different parts of the world.

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On its standard account, XTB quotes a minimum spread of 0.5, while the Pro account offers a minimum spread of 0.1. However, there is a commission of $3.50 added for trades on Pro accounts. The maximum leverage is 1:200.

4. IC Markets

IC Markets is an Australian-based online brokerage trading in financial derivatives. It was founded in 2007 and has since grown to operate in different countries all over the globe.

The minimum deposit is $200 with a maximum leverage of 1:500. There is no commission, and the lowest spreads are 0.0 pips on currencies. The platform also offers an impressive library of educational material and videos for its clients.

5. RoboForex

With the aim of providing the best trading conditions using innovative technologies, RoboForex was started in 2009. The company is international, with a variety of services for their clients. It offers 7asset types and more than 12,000 instruments for trading.

RoboForex fees spread and commissions start from $15 with spreads starting as low as 0.0 pips. There are no deposit fees, but withdrawal fees are applied to some payment methods. The leverage varies from 300 times to 2000 times.

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