Online Forex Trading & Forex Broker

You can find a list of recommended brokers at the end of this guide. Many experts talk about the importance of having a regulated Forex market in Nigeria. There is a chance that things will change in the coming years, and Nigeria will establish a regulatory authority that will make the Forex market safer for traders.

Or just see the list of good brokers at the end of this article and choose the one that looks the most appealing to you. Our country guides dive deep into local financial markets and regulatory agencies to help you choose the best – wherever you may live. The best way to decide if SuperForex is the right broker for you is to open an account and test the company’s services yourself. Note that you can also open a demo account, which does not use real money and is perfect for trading practice. FX data services Accurate and reliable FX services and exchange rate data and from a provider you can trust.

  • Also, be sure to check out our in-depth reviews of forex brokers – we detail the regulatory status of each individual forex broker across the international forex landscape.
  • Smaller account holders will encounter a number of unusual obstacles that include higher account minimums, a variety of fees, and fewer customer support options.
  • A regulation or license, for example, is urgently needed for secure trading with international brokers.
  • First, make sure your broker is properly licensed and regulated.
  • We also reference original research from other reputable publishers where appropriate.

Understanding more about your investment style needs can help determine which forex broker will be best for you. Overall, Interactive Brokershas a reputable reputation and offers traders user-friendly trading conditions. The SuperForex MetaTrader 4 platform is the most reliable and innovative trading technology service out there. An award-winning trading platform, MT4 is the preferred choice of trading professionals. It is designed to provide fast and accurate brokerage services to customers in FX and futures markets. CMC Markets , founded in 1989, is a well-established, publicly traded, and highly regarded U.K. Forex broker that has successfully adapted to the ever-changing online brokerage landscape.

Is forex trading legal in the United States?

You should always beware of sensible risk management. Start trading— try to be smart and careful but do not expect to win in 100% of cases. In fact, as an inexperienced trader, you have a high chance to not win at all.

Forex broker

Beginners on July 23rd 2021 by Series Eight 5 Beginner-Friendly Strategies To Profit In FX Trading Know 5 beginner-friendly strategies to profit. Learn about carry trading, Forex brokers momentum trading, range trading, trend trading strategies. The industry is regulated by the Commodity Futures Trading Commission and the National Futures Association .

Read reviews on popular brokers.

With the consumer boom in the country, Forex is becoming very popular among Nigerians, especially young and educated ones. As libertex a result, it is estimated that Nigeria has the second-biggest Forex retail market in Africa, trailing only South Africa.

EToro deftly merges self-directed trading and copy trading into a sleek, unified trading experience. Copy traders can read our full social copy trading guide here.

Forex broker

You can read our ECN comparison here. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and an exhaustive list of other important fee-based data points. Security has the highest priority in online trading. When it comes to trading leveraged financial products, you have to be able to trust the forex broker. It is not uncommon for large sums of money to be used to generate a large profit. For example, brokers in Europe must have regulations or licenses if they want to offer their services.


For a full explanation and accounting of our research and testing process, please click here to learn more about how we test. Alongside primary categories, ranks brokers by the most popular investor libertex group categories. Finally, each year honors the brokerages who go above and beyond in the areas that matter most to investors. Investopedia requires writers to use primary sources to support their work.

SuperForex Mobile App

You will find more information on what a demo account is when we will discuss how to start trading on Forex. There are a lot of s that allow for low-to-zero minimum deposits which can be a great option for traders with limited funds; many brokers also charge very low transactional fees and spreads.

Control, power, and speed. Our app and platforms give you every possible edge.

The solid brokerage company provides a lot of courses, as well as, literature and material to let you get a smoother start in Forex trading. This option is no less important than the previous one. You, as a trader, should easily manage your funds and, if necessary, withdraw them quickly and without high commissions. The broker’s money returning duty determines its decency and reliability.

Real reviews and comparison

Some forex brokers offer more of the bells and whistles that more seasoned traders require, including advanced order types and full-featured charting platforms with a wealth of analytical tools. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies . To trade forex, you need a reputable online broker. Trading with a trusted forex broker is a crucial factor for success in international currency markets. As a contract for difference trader or forex investor, you may have specific needs related to which platform, trading tools, or research requirements you have.