Best Training courses providers in Nigeria

Top 10 Forex Copy Trading Brokers in Nigeria

JustForex is a well-respected international company. JustForex provides high-quality services to its clients and offers competitive trading conditions. JustForex offers unique analytical materials, a wide selection of financial instruments, tight spreads and no limits to trading strategies. It also has beneficial partner programs.
Justforex Pros
MAM accounts
Social trading supported
excellent Education
minimum deposit of $1 on Standard Cent and Standard accounts and $100 on Pro and Raw Spread accounts
Justforex Cons
US clients are not accepted
Spreads High
FirmFountain Multi Investment Ltd, a rapidly growing company, is passionate about forex trading, education and information technology "ICT". We offer consultation in all areas of our services and products.
Firm Fountain Multi Investment Ltd Pros
Ease of use
Superb customer service
Firm Fountain Multi Investment Ltd Cons
Design customization could use more work
Occasional glitches
Pepperstone provides a growing number of tradeable markets, high-quality research and support for multiple social trading platforms. It supports MetaTrader and cTrader, and it has a wide variety of third-party plugins and tools that enhance its already impressive range of platforms.
Pepperstone Pros
Pepperstone was founded in 2010 and is licensed in two tier-1 jurisdictions. This makes it a safe broker (low risk) to trade forex and CFDs.
Pepperstone's dual MetaTrader/cTrader offering is a great fit to copy traders.
Pepperstone offers multiple platform add-ons to enhance your MetaTrader experience.
Pepperstone's research is superior to the industry average, but it still trails leaders like IG and Saxo Bank.
Pepperstone has a growing number of markets that can be traded.
While pricing is competitive for active traders using Pepperstone's Razor accounts and retail traders, trading costs are average.
There are many social copy trading platforms.
Pepperstone Cons
Pepperstone's educational material range is comparable to industry average, but not as great as the category leaders.
Interactive courses, progress tracking or educational quizzes are not offered.
Trade360's innovative mobile and web app offers more than a thousand symbols. It supports MetaTrader 5 (MT5) which makes it an excellent platform for CFD and forex trading. Trade360's educational content and market research are very limited. Spreads can also be quite expensive when compared to other platforms.
Trade360 Pros
CrowdTrading offers trading signals that are guided by sentiment data from clients.
Six account types are available (minimum deposit ranges from $250 to $100,000).
Useful thematic indices are provided with Industry Stock and Smart Collects.
With the Self-Select feature, traders can adjust their leverage per trade.
The Economic Calendar Event Detail usefully displays affected symbols.
Trade360's mobile app closely matches the web platform experience.
ASIC in Australia and CySEC Cyprus regulate them.
Trade360 Cons
Access to Trading Central Tools requires a minimum of 1,000 Euros deposit
Spreads can be expensive. They range from 1.8 to 4 pip on EUR/USD depending on the account type.
Videos of financial market news are no longer available.
Daily Market Report focuses on technical analysis of just two key symbols.
There is a limited selection of educational content. Here are a few videos and articles.
There are only 10 educational articles available.
Executions of trades sent to Belize's IFSC-regulated entity PX Exchange.
HotForex (HF Markets Europe) has an enhanced MetaTrader offering, quality research and a copy trading platform. HFcopy offers a decent selection, over 1,000 CFDs, and 47 forex pairs. HotForex's trading costs are still slightly higher than the industry average. The HF mobile app doesn't yet support trading.
HotForex Pros
FX Blue Labs has developed Premium Trader Tools that enhance the default MetaTrader suite.
HotForex is able to balance in-house market analysis with third-party research content and news.
Special research reports are produced by an in-house team, including quarterly, annual, and monthly outlooks.
HotForex's Traders Board module offers sentiment and correlation data.
HotForex Cons
HotForex's educational content is lacking in quality, despite a good selection of videos.
All account types have trading costs slightly higher than the industry average.
HotForex's copy trading platform HFcopy requires 300 EUR to copy existing strategies. It is less mature than eToro’s offering.
Although the HF app has been improved, trading is not allowed. HotForex traders can only use MetaTrader.
Trading 212 is best known for its mobile trading application. It offers a simple-to-use trading platform for CFD and share trading as well as a wide range of forex pairs. Trading 212 is not a top-rated broker because of its attractive platform and large selection of symbols.
Trading 212 Pros
Trading 212's intuitively designed and easy-to use web trading platform was awarded Best in Class in our annual review for its ease-of-use.
A wide range of 1,785 symbols are available for CFD trading and forex trading.
Many exotic FX pairs are supported, 16 of which are against the Bulgarian Lev.
Provides indemnity insurance above EUR 1,000,000 with excess EUR 20,000 from the Cypriot regulator.
Trading 212 Cons
Mobile app does not offer any news headlines, except for the economic calendar events.
Apart from sentiment data, the web platform only allows for snippet-like updates.
Trading 212 does not have many written articles, despite the large number of videos.
MetaTrader is currently unavailable
Our mission is to help our clients succeed and expand the financial services industry in every country where we work. We are constantly innovating and making sure that our services remain relevant. One step is enough to travel 1,000 miles according to a Chinese proverb. This is the story behind Alpari. The company was established in 1998 and has been an international broker for more than 20 years. Alpari Limited is a registered company under the Registrar of International Business Companies number 20389 IBC2012. Alpari is a member of the Financial Commission which helps in resolving Forex markets disputes.
Alpari Limited Pros
Platform compatible for trading
All types of traders can benefit from the services of caterers
Seamless technology
Transparent
Alpari Limited Cons
We do not accept clients from Russia, Japan, the USA, or other countries.
Vantage completes its MetaTrader platform offering by adding support for multiple social trading platforms and content powered via Trading Central. Vantage is behind the industry leaders in key areas like research and education.
Vantage Pros
Vantage is regulated in two tier-1 and one tier-3 jurisdictions, making it a safe broker (average chance) to trade forex and CFDs.
Indemnity insurance is held to provide additional protection beyond what is required by regulations.
Vantage has done a great job integrating TradingView into the MetaTrader suite.
Smart Trader add-ons available for MetaTrader and multiple social-copy-trading platforms (not offered in Australia).
Vantage ranks again among the Top MetaTrader Brokers and Best Copy Trading Brokers in 2022.
Vantage Cons
Pro ECN accounts require a minimum deposit $20,000 which makes them unsuitable for budget investors.
A $1,000 deposit is required to gain access to the Pro Trader Tools powered By Trading Central.
The spreads on the Standard account are not impressive unless you deposit at minimum $10,000 to be eligible for active trader rebates.
XTB has more than 15 years of experience and is the largest stock exchange-listed FX & CFD broker in the world. There are offices in 13 countries, including the UK, France, Germany, France, Chile, and Poland. XTB is committed to providing the best trading experience for its clients. Our core values align closely with this vision. Our goal is to help clients become better investors. Our customer service team is available 24 hours a days, 5 days a semaine. We also have a large library of educational materials that includes videos, webinars, and courses for beginners as well as experienced investors.
XTB Online Trading Pros
Opening an account is easy and quick
Fast and free withdrawals
Some ETFs/stocks/ETFs have low forex CFD fees and commission-free.
XTB Online Trading Cons
Inactivity fee charged
We have limited fundamental data
CFDs limit product portfolio
Research in South Africa's Exness review reveals that Exness was established in 2008, with significant developments since then. Exness is a licensed broker in the United Kingdom and Seychelles, South Africa.
The Exness Pros
Regulated by United Kingdom of Cyprus, Seychelles and South Africa.
Client funds kept separate from other accounts
Broker for Dealing-Desk
Tight spreads
More than 130+ Currency Pairs With Multiple Trading Platforms
The Exness Cons
There are no multi-currency accounts

Copy trading can make you money

Copy trading is like any other investment. You can either make or lose money. Copy trading allows you to assess the profitability of each trader before you choose which signal provider to follow. Market adage says, “Past performance does not necessarily predict future results.” Copy trading can be risky and many traders lose their money. Do not invest more than you can afford to lose. Start small and research thoroughly before making any commitments.

How can I find the best forex trading system for copy trading?

It is not always the most profitable trading system that you can copy. It is important to match your risk-parameters with investment goals. A system that has a lower average loss per trade may be preferred by a conservative investor over one that makes a higher average profit. A more aggressive investor might choose a strategy with higher volatility. This means greater risk of losing your money.

Modern copy trading platforms often have hundreds, if not thousands, of signal providers. It can be confusing for traders to choose which signal provider to follow. It is important to research and only invest a small amount. Never risk more than you can afford to lose.

Copy trading is a good idea?

Active account management is required for copy trading. Copy trading is self-directed and not like passive investments or investment funds that are set-it-and-forget-it. Only you can decide if copy trading is a good idea or not and whether it should be part of your portfolio. Copy trading, if done correctly, can help diversify your portfolio. The best copy trade brokers provide the most tools.

How can you copy a trade deal?

To narrow down the traders and strategies you want to copy, first use the platform’s filters. Next, compare strategies side-by-side to examine historical returns and performance. Next, enter the amount you are willing and able to risk and then initiate the copy trade.

Copy trade tip 1 – It’s important that you look at performance statistics for every system. This includes the maximum draw down, risk taken, average trade size, duration and frequency.

Copy trade tip 2 – Some investors choose more than one strategy. However, having sufficient capital and selecting the right risk parameters are essential when copy trading forex strategies. Copy trading is risky. Do not invest more than you can afford to lose.

Is copy trading possible?

Social trading or copy trading in financial markets is a practice that has been around for more than a decade. It works when you select a trusted broker. However, this doesn’t guarantee success. Copy trading isn’t a quick and easy strategy. It can take a lot of effort and time.

Although copy trading may seem appealing when you see the top performing traders’ results, it can be difficult to replicate these results in your account. There are many tools that can be used to analyze traders and manage risk. Database biases can also play a role. For example, recency bias can cause you to follow the trader who is currently performing well, which may not always be the best option. Strategy drift is a strategy that a trader departs from past performance and can lead investors astray.