High leverage allows Nigerian traders to open larger positions than they would have been able to with their own investments. Leverage is essentially a margin tool that is expressed as a ratio of your existing amount, and allows you to increase your available trading funds by that ratio – such as 1:100, 1:500, or even 1:1000. In this article, we have listed the 4 best regulated brokers which offer high leverage to Nigerian traders, allowing them to increase their positions within the secure framework of sound regulation.  

Exness

Overview

Traders in Nigeria can take advantage of Exness' 1:1000 leverage ratio. CFD broker Exness has more than 200,000 customers worldwide and offers trading on more than 100 currency pairs, a few cryptocurrencies and more than 70 stock CFDs, as well as commodities, indices and cryptocurrencies. Nine account types are available for the MT4 and MT5 platforms from Exness, which is more than other brokers can say the same about.  

Pros and Cons

PROS	CONS
Well-regulated
Tight spreads
Over 130 currency pairs

   

Features

Feature	Information
Regulation	CySEC, FCA
Minimum deposit from	$1
Average spread from	1.3 pips
Commissions from	3 USD and 10 USD per 1 lot for CFDs
Deposit/Withdrawal Fees	None
Maximum Leverage	1:2000
Bonuses	Standard +10% Bonus Programme
Customer Support	24/5 - multilingual

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2. CM Trading

Overview

When you use CM Trading, you can rest assured that all of your personal, financial, and transactional data is protected by the industry's most advanced SSL encryption technology, according to this CM Trading review. When it comes to online trading, CM Trading is a one-stop shop that offers everything from CFDs on stocks and commodities to indices and foreign currencies, all the way up to a 400:1 leverage ratio.  

Pros and Cons

PROS	CONS
Well-regulated Forex broker	Inactivity fees chargeed
Low minimum deposit
Islamic accounts offered

   

Features

Feature	Information
Regulation	FSCA, FSB
Minimum deposit from	$100
Average spread from	1.1 pips
Commissions from	None
Deposit/Withdrawal Fees	Yes
Maximum Leverage	1:400
Bonuses	Yes
Customer Support	24/5 - multilingual

   

3. FXTM

Overview

FXTM offers traders in Nigeria a high leverage of 1:2000, which they can use to their advantage. FXTM is an award-winning market maker/ECN that provides trading in a variety of markets, including forex, commodities, metals (including gold and silver), stocks (including the Dow Jones Industrial Average), and indices.  

Pros and Cons

PROS	CONS
Superb customer service	Inactivity and withdrawal fees
High maximum leverage	Limited product portfolio
Great educational tools

 

Features

Feature	Information
Regulation	CySEC, FCA, FSCA
Minimum deposit from	$100
Average spread from	0.9 pips
Commissions from	No commission
Deposit/Withdrawal Fees	$3
Maximum Leverage	1:500 on average
Bonuses	$300 Trading Bonus
Customer Support	24/5

   

4. HotForex

Overview

Traders in Nigeria wanting a trading account with Naira as the base currency and STP execution often use HotForex because of its excellent leverage ratio of 1:1000 and its regulation by the FSCA since 2016. The minimum to open an NGN account is N2000.  

Pros and Cons

Pros   No deposit or withdrawal fees Competitive spreads

Cons   High commission charges on the Zero account

 

Features

Feature	Information
Regulation	CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from	$5
Average spread from	0,0 pips
Commissions from	USD 0.03 per 1K lot.
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	100% Supercharged Bonus
Customer Support	24/5

   

5. XM

Overview

For Nigerian traders, XM offers a leverage level of 1:888. An established name in the forex market, XM is a popular choice for traders. An improved MetaTrader 4 and MetaTrader 5 trading platform provides XM customers with access to more than 1,000 competitively priced assets.  

Pros and Cons

Pros Low minimum deposit Comprehensive educational offering Streamlined account opening process

Cons Inactivity fee charged after 90 days on live accounts Limited product portfolio

   

Features

Feature	Information
Regulation	IFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from	$5
Average spread from	0.1 pips
Commissions from	$3.5 commission per $100 000 traded
Deposit/Withdrawal Fees	None
Maximum Leverage	1:30
Bonuses	$30 Trading Bonus
Customer Support	24/5

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