InstaForex brand was created in and at the moment it’s a top choice of more than three million traders. The priority of Instaforex Nigeria Office is rendering high-grade services which are aimed at assisting clients to instantly Fund and withdraw from their Forex account in Naira Forex trading can now be done by anyone in Nigeria, anytime, from home or anywhere through the internet. All you need to trade forex online is a laptop, good internet connection, good trading strategy tested on demo & starting capital which we recommend to be atleast ₦50, You need to signup with a Forex Is forex trading taxable in Nigeria? The simple answer here is that yes, it is. Your forex trading profits will be treated as capital gains and, in Nigeria, this tax rate is 10%. Unlike some other countries, if you do lose money in forex trading, there will be no tax deduction and you will have to file annual income tax as Nigerian residents blogger.comted Reading Time: 7 mins
Forex Trading in Nigeria for Beginners (Complete Guide) | blogger.com
For Nigerian traders, besides fees or other charges, trading platform remains the most important consideration while choosing your forex broker. The best forex trading platforms should offer a downloadable desktop, mobile apps or web-based trading platforms.
In order to help you find the best forex trading platform, we have tested all the platforms. Here we go. Visit FXTM, forex trading nigeria document for account comfirmatn. It comes with full support for web, desktops and mobile devices. MetaTrader software at FXTM is one of the best that we have traded on so far, and offers Nigeria forex traders the most advanced features. For traders, this includes over trading instruments, fast order execution, trading signals, an extensive range of order types, news feed, data protection and more.
The MT5 WebTrader platform is also available, forex trading nigeria document for account comfirmatn. The advanced charting tools for technical analysis include: Fibonacci and Gann tools, channels lines, etc and nine timeframes. Their platform also provides support for various orders including market order, limit orders, stop loss and more.
Plus, they have inbuilt news feed in their Metatrader. Moreover, FXTM offers VPS for automated trading, forex trading nigeria document for account comfirmatn.
The FXTM platform also supports copy trading. to know more read our detailed FXTM review. Visit Hotforex. It has support for mobile, desktop and web, forex trading nigeria document for account comfirmatn.
For trading currency pairs, HotForex offers an impressive but risky leverage ratio of The value of their platform is being able to access the account from anywhere using your iPhone, interactive forex trading nigeria document for account comfirmatn for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators. also read our detailed Hotforex review.
Visit OctaFX. OctaFX offers Metatrader 4 with their Micro account, MT5 platform with their Pro account and cTrader with their ECN account. They offer Market execution with all their platforms, and most of the orders with them are executed quickly without any slippage. VPS service is also available with their MT4 platform.
On the downside, their platforms have limited assets available. Their currency pairs are limited to 28, forex trading nigeria document for account comfirmatn, and CFDs are limited to 4 metals, 2 energies, 10 indices, and 3 cryptocurrencies i. also read our detailed OctaFX review. Visit XM. Visit Tickmill. They offer market execution, and we have found their order execution to be very fast with no delays. Moreover, their MT4 is supported on Windows, Mac, Android, iOS, as well as webtrader.
Their platform has 62 currency pairs which is more than other platforms, but their other instruments are limited.
They only offer 15 stock indices, and 2 metals other than forex trading. Visit Alpari. Alpari has the latest MT5 software for Nigerian traders, and it has solid features without an freezing or downtime. They offer instant order execution with Nano, Standard accounts, and market execution with their ECN accounts.
Their Metatrader comes with multiple timeframes, order types and many technical indicators for technical analysis. Plus, they have an inbuilt news feed to keep track of any news during your trade.
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 forex trading nigeria document for account comfirmatn 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 forex trading nigeria document for account comfirmatn 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, forex trading nigeria document for account comfirmatn, 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, forex trading nigeria document for account comfirmatn 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 forex trading nigeria document for account comfirmatn 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. NG is an Investment Comparison website with an aim to help Investors in Nigeria find the best forex brokers.
Read More. Read full risk disclaimer. NG: Your Guide to Forex Trading in Nigeria. All Rights Reserved, Best Forex Trading platforms in Nigeria Leverage: Trading Instruments: Forex, Cryptocurrencies, CFDs on Shares Ranks 1 Forex platform in Nigeria. But the fees with competitive with ECN accounts. Leverage: Trading Instruments: Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals Ranks 2 Forex platform in Nigeria. Cons We did not find any cons with their platform so far for now.
We will update it once we find something new. Overall Rating 8. Leverage: variable based on account type Trading Instruments: 28 currency pairs, 3 Cryptocurrencies, CFDs on Indices, metals Ranks 3 Forex platform in Nigeria. OctaFX is one of the very few forex brokers that offers Metatrader as well as cTrader. You can open trading account in USD or EUR currency only. Leverage: Trading Instruments: Forex, CFDs on Stock Indices, precious metals Ranked 5 Forex platform in Nigeria.
Pros Metatrader 4 for multiple devices including web, desktop, and mobile. Tickmill has No dealing desk platform, so their is no conflict of interest with their clients, and orders are placed directly with their liquidity providers. Their platform supports mutiple charts, order types, and EAs for automated trading.
Forex trading available on 62 currency pairs. Very few trading instruments other than forex. Their CFD trading options for stock indices, and metals are limited. Leverage: Trading Instruments: 46 Forex pairs, Cryptocurrency, CFDs on Indices Ranks 6 Forex platform in Nigeria.
They also have a PAMM account for investors, and an app where you can keep track. They also have their own mobile app.
First time trading on MT4?
, time: 4:246 Best Forex Trading platforms in Nigeria (Mobile & Web support) - blogger.com
Forex Nigeria - Forex Education & Broker Comparison. Forex Nigeria is a website with beginner guides on Forex Trading. We have also compiled the list of best brokers for Forex, CFDs and Bitcoin trading for Nigerian traders. Disclosure: We don't offer any investment advice or such service. We are an independent research website that focuses on comparision, and we have no relation to any broker Estimated Reading Time: 4 mins 22/07/ · All fx trading platforms are available as desktop, webtrader, and mobile app platforms. Each option comes with a free demo account that allows Nigerian traders to test out forex broker and platform for 30 days. A maximum of AUD $50k in virtual funds can be traded over this duration on CFDs and forex blogger.comted Reading Time: 9 mins Is forex trading taxable in Nigeria? The simple answer here is that yes, it is. Your forex trading profits will be treated as capital gains and, in Nigeria, this tax rate is 10%. Unlike some other countries, if you do lose money in forex trading, there will be no tax deduction and you will have to file annual income tax as Nigerian residents blogger.comted Reading Time: 7 mins
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