OANDA is a worldwide Forex and CFD broker that also offers corporate Forex solutions and currency conversion.
To help Nigerian forex traders choose a broker, this article mention a list of brokers with whom traders can start trading with a minimum deposit of only $1.
OANDA
OANDA is a worldwide Forex and CFD broker that also offers corporate Forex solutions and currency conversion. Users may trade Forex, Indices, Metals, Commodities, and Bond CFDs using the broker's own trading platform for desktop, web, and mobile, as well as
MetaTrader4.
OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities including:
- Australia AISC (Australian Securities and Investments Commission)
- United States CFTD (Commodity Futures Trading Commission)
- Europe and UK FCA (Financial Conduct Authority)
- Japan IFFA (Institute Financial Futures Association)
- Singapore MAS (Monetary Authority of Singapore)
- Canada IIROC (Investment Industry Regulatory Organization of Canada)
OANDA offers two accounts, a Standard Account and Premium Account. Each account comes with their own unique features and benefits. A free demo trading account is also on offer.
Customer support is available via a FAQ section, an OANDA Virtual Assistant and phone.
FXTM
An
FXTM Nigeria Review shows that the broker offers two NGN account funding methods through bank wire transfer or Neteller. The minimum deposit is $1 for a standard forex account which allows individuals to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency like the GBP, USD or EUR.
FXTM offers social trading (copy trading) which allows a trader to select a Strategy Manager and mirror his trades. The broker offers local seminars run by industry experts in Nigerian locations such as Port Harcourt to complement the webinars offered on the website.
XTB
XTB is an online CFD, Crypto and forex broker founded in 2002 with headquarters in London and Warsaw and offices in more than 10 countries. XTB prides itself on offering a personal approach, wide range of educational materials and an award-winning platform.
They are listed on the
Warsaw stock exchange and favoured by over 140,000 clients worldwide, trading over 1500 global markets and is regulated by several international authorities including the UK's Financial Conduct Authority (FCA) and the Polish Financial Supervision Authority (KNF).
Exness
Exness was founded in 2008 and offers trading on more than 100 Forex pairs, a small range of cryptocurrencies, over 70 stock CFDs, indices and commodities to their more than clients worldwide. Exness has nine account types on the MT4 and MT5 platforms with the Standard Cent Account aimed at beginners who want low fees and a low minimum deposit of 1 USD, micro-lots, and spreads as low as 0.3 pips. The only disadvantages to this account are that traders will only be able to trade currency and metals. 👉
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ECN Accounts for experienced traders has raw spreads and 7 USD commission.
IQ Option
IQ Option is a forex & binary options broker with offices based in the UK, Cyprus, and Seychelles, and regulated by the FCA and CySEC. IQ Option offers traders three trading account to choose from, Retail, Professional and Demo.