With so many forex brokers springing up here and there, you’d certainly be doing yourself a favor by searching for the best forex investment companies in Nigeria.
With a market of $5 trillion in daily transactions, forex is, unarguably, the biggest trading activity in the world. In Nigeria, about 300,000 retail forex traders exist, according to a 2021 report.
Despite the increased awareness about forex trading in Nigeria and the number of people involved, forex experts have shared their concerns about the high rates of fraud and unethical activities that have also characterized the market.
We are not new to the news of how many people suffered at the hands of Nigerian forex companies such as MBA Forex and Investment Capital Limited whose CEO, Maxwell Chizi Odum, was declared wanted by the Economic and Financial Crime Commission (EFCC) and is still at large.
Not to talk of several others that followed.
See why you need to be thorough in your search for a viable and trustworthy forex company in Nigeria?
Though this post is not a validation of the reliability of any forex company in Nigeria, it should at least guide you in making informed decisions before leaping into forex investment in the country.
Without much ado, let’s dive into the reason for this article – the 10 best forex investment companies in Nigeria this year.
The Top 10 Forex Investment Companies In Nigeria
Forex companies or brokers abound in Nigeria today, but of all these, here’s a list of the prominent ones.
But, do your due diligence before investing with any of them.
Let’s go check them out.
- Forextime (FXTM)
- Peppersone
- IC Markets
- OctaFX
- FXCM
- Expert Option
- Avatrade
- Alpari
- Hotforex
- Exness
1. Forextime (FXTM)
One of the prominent forex investment companies in Nigeria is Forextime. Established in 2011, the trading platform has helped many Nigerians double their income through a secure forex investment. With regulations and licenses from many countries like the US and UK, Forextime has proven its credibility. Besides this, it’s a trading platform that allows any kind of trader, whether beginner or intermediate, or expert. Another catch is their reasonable trading cost with easy access to the platform regardless of your device (mobile, desktop, or web). It also has free forex courses to guide its investors. And to cap it is the access to a demo account free of charge.
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2. Pepperstone
With notable awards from global firms like Deloitte and others, Pepperstone is renowned for its easy-to-use platform and exceptional customer support. As one of the best forex investment companies in Nigeria, it has over 57,000 traders on the platform. Created in 2010, Pepperstone beats others with a fast transaction and the lowest cost spreads. With the sophisticated technology, traders’ information security of the platform is guaranteed. They’ve also created an opportunity for traders to use a demo account that can be funded to test trading.
3. IC Markets
When we talk of prominent forex trading companies in Nigeria, IC Markets can’t be missing from the list. It is regulated and has demonstrated consistency over the years in providing its traders with a secure and reliable platform for a seamless trading experience. Whether you’re new, experienced, or a scalper, IC Markets is designed to meet your forex investment needs. Established by a team of professionals in the finance sector, the platform has helped several Nigerian forex trade investors increase their earnings in the most secure manner. As one of the leading forex investment companies in Nigeria, IC Markets is recognized as one of the efforts to bring retail forex trading to individuals.
4. OctaFX
Another great forex broker you’d want to invest with is OctaFX. Founded in 2011, the company has helped a large number of investors irrespective of their level, make more money. Whether you’re a beginner or professional, the forex investment company is suitable for you. With over 1.5 million traders who have transacted over 288 trades across over 100 countries worldwide, the company is a force to reckon with in forex investment in Nigeria. And one distinguishing feature of OctaFX is the use of copy trading where you can leverage a successful trader’s trade and make money off it. Also, in case you have no idea what forex trading is about, the academy is there to guide you.
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5. FXCM
This is also one of the top forex investment companies in Nigeria that give traders the opportunity of one-click order execution. As you invest, you have access to a real-time chart that shows you how you’re doing. With cutting-edge technology and transparent functionality, FXCM takes the lead among notable forex brokers in Nigeria. The trading platform is unique and easy to use. You don’t need prior forex trading experience to be able to invest with FXCM.
6. Expert Option
Another popular forex investment company in Nigeria is Expert Option. Founded in 2014, it is one of the top forex investment companies in Nigeria because of the ease of using the platform coupled with its high level of transparency. Even a newbie can use the platform because there’s a guide to always point you in the right direction. How about its amazing customer support response? The platform is secure and very easy to navigate. It works on virtually all devices and operating systems.
7. AvaTrade
Established in 2006, AvaTrade is one of the biggest forex investment companies in Nigeria. Equipped with state-of-the-art technologies and highly resourceful professionals, the company has carved a niche for itself in the business of forex brokerage in Nigeria. As a forex broker, it has given many Nigerian investors an amazing forex investment experience like no other. Being a reliable trading platform for most retail traders, the company has increased its monthly transactions to over $60 billion.
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8. Alpari
Another international forex broker that has tremendously benefited Nigerian investors is Alpari. As one of the top forex investment companies in Nigeria, it has designed top-notch strategies and resources to help investors make the best decisions. Alpari’s trading platform has been so simplified that anyone, irrespective of their forex trading skill, finds it easy to use. Having been in the global market for over 20 years, it has established strict financial standards with secured technologies that have over the years helped over 2 million traders make successful transactions.
9. Hotforex
Hotforex is one of the most popular forex investment companies in Nigeria. Established in 2007, it has a wide range of features that stand it out from other platforms. Such features include multiple charts and order types, speedy order execution, engaging analysis tools, and an inbuilt trading calendar. It also has different accounts like fix, micro, currenex, premium, and VIP.
10. Exness
Established in 2008, Exness has gone on to become one of the biggest forex investment companies in Nigeria with an impressive number of portfolios. The forex broker is well known for the simplicity of its platform and the standard with which traders access their investment. It has so far been recognized as “the best forex broker with a minimum deposit in Nigeria”.
Wrapping Up
Forex companies abound in Nigeria, but finding the right one to invest with can be difficult. When you think of the recurrent cases of fraudulent activities by forex companies in Nigeria with millions of dollars of investors’ funds down the drain, you’d know the importance of our list of the top 10 forex investment companies in Nigeria.
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