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Best MetaTrader 5 brokers allowed to trade in Nigeria. Rating with real reviews

JustMarkets is a broker who helps people make money in the financial markets by offering them the best conditions. Our international brokerage allows us to work with clients all over the globe. This allows us to recognize that everyone has their own values. When developing our services, we take into account the different cultures, countries and trading experiences of our clients. JustMarkets offers a range of trading accounts that offer many trading tools so that every trader can find the right one. We keep an eye on current trends to improve the services we offer traders as well as partners. We want them to be able to do the things they love without being distracted by other things.
JustMarkets Pros
Easy-to-use trading platforms for desktop, mobile, and web.
There are many forex currency pairs that can be traded.
Spreads starting from 0.0 pip with fast execution speeds
Copy trading and managed accounts
To test your trading online, demo accounts are available.
There are many options for quick and simple payments.
Islamic accounts for Muslim traders
MAM accounts
Social trading supported
Support team available 24/7
Bank accounts are kept separate from client funds
JustMarkets Cons
US clients are not accepted
Spreads High
Absence of top-tier regulations
The number of trading instruments is limited
Clients from other countries won't be accepted
After several days of inactivity you could be subject to Inactivity fees
Withdrawals charged
No FIX API connectivity
VT Markets is part of the Vantage Group, which gives it access to the MetaTrader suite and its own VT Pro trading apps. Despite offering a variety of third-party features, VT Markets is unable to compete with top forex brokers because of its limited research materials, lack of educational content and small number of markets.
VT Markets Pros
VT Markets is a regulatory body in one tier-3 jurisdiction. It is also part of Vantage Group which has licenses in two tier-1 countries.
VT Markets provides the complete MetaTrader suite and premium trading tools from Trading Central.
Trading costs at VT Markets vary from an average rate (when you use the VT Markets ECN Account) to a high price (if you choose the Standard account option).
VT Pro - The broker's mobile app - is simple to use and provides news headlines as well as research.
VT Markets has indemnity insurance as an addition to its regulatory protection.
Third-party support such as ZuluTrade copy trading and trading signals via Acceage
VT Markets Cons
VT Markets has fewer than 200 symbols, compared with the wide range of markets available at Saxo Bank and IG.
VT Markets has a limited number of educational content. This puts it in a competitive position with its peers.
Access to Trading Central Tools requires a minimum of $1,000 deposit
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.
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
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.
AvaTrade, a trusted global brand, is well-known for its extensive range of trading platforms for forex traders and CFD traders. It also offers exceptional educational content, which helped it earn a Best in Class rating from Beginners for 2022. AvaTrade was tested and found to be excellent for copy trading, competitive on mobile and in line with industry standards for pricing and research.
AvaTrade Pros
AvaTrade was founded in 2006 and is licensed in three tier-1 and three tier-2 jurisdictions. This makes it a safe broker (low risk) to trade forex and CFDs.
AvaTrade also offers MetaTrader and AvaTradeGO platforms, along with AvaProtect.
Sentry Derivatives' AvaOptions app provides AvaTrade clients excellent mobile forex trading options via the AvaOptions app.
AvaTrade offers 44 forex options and more than 1,200 CFDs.
AvaTrade, which offers AvaSocial along with ZuluTrade, DupliTrade, for social trading and was awarded Best in Class for 2022.
AvaTrade is ranked Best in Class for Professional Traders for 2022.
AvaTrade Cons
Retail accounts are priced in line with industry averages, but trail industry leaders.
AvaOptions' desktop platform is slow to load and doesn't have the same responsive design as its mobile counterpart.
There are at least 351 symbols available out of the 1,260 available. These are for both MetaTrader and WebTrader platforms at AvaTrade.
Trading Central modules are the only areas of research. There are only a few daily articles and videos.
FXTM, or ForexTime, was established in 2011. It is a global broker of CFDs and FX. It is regulated and supervised by several financial authorities including the UK Financial Conduct Authority and the Cyprus Securities and Exchange Commission. FXTM is considered to be safe due to its regulation by the FCA.
ForexTime Pros
Superb customer service
Excellent educational tools
Fast and digital account opening
ForexTime Cons
CFD fees high
Withdrawal fees and inactivity
Limited product portfolio
FP Markets is a low-cost broker that allows you to trade forex and CFDs - provided you use the MetaTrader platform. Although the Iress platform suite has well over 8,000 symbols that can be traded, it is primarily a share trading platform and tends to be more expensive. Forex and CFD traders can find a flexible, affordable MetaTrader option at FP Markets. However, they won't have the industry experts' research and educational content.
FP Markets Pros
FP Markets was founded in 2005. It is regulated by one tier-1 and one tier-2 jurisdictions, making it a safe broker (average risk) for trading forex or CFDs.
FP Markets offers MetaTrader Suite, as well as ultra-competitive spreads via its Raw ECN account.
FP Markets was again voted Best in Class for MetaTrader and Commissions and Fees in 2022.
FP Markets offers access to Iress Platform Suite which has over 8,800 tradeable symbol.
FP Markets Cons
Although the new mobile app by FP Markets is a welcome addition, it still lacks many features that are common in top mobile trading apps.
Although the educational content of FP Markets isn't particularly strong, it has improved over time with podcasts and more articles.
FP Markets' Iress platform focuses more on share trading than forex. Data fees can quickly add up if you are not an active trader or have a high-balance accounts.
FP Markets' social trading portal is compatible with MetaTrader 4 but lacks advanced performance metrics like copy trading leaders.
IC Markets' low prices and scalable execution make them a great choice for algorithmic traders. Although it offers a wide range of third-party plugins and tools, IC Markets education and research offerings are less impressive than those offered by industry leaders.
IC Markets Pros
It is a safe broker (average risk) that maintains regulatory status in one jurisdiction tier-1 and one jurisdiction tier-2. This makes it an acceptable broker for trading forex and CFDs.
Competitive pricing for all account types, with low average spreads.
Third-party research tools and trading plugins are available to enhance the IC Markets MetaTrader service.
IC Markets is the top-ranked MetaTrader broker for 2022.
It has significantly increased its market coverage from 204 symbols up to more than 3500.
IC Markets' low-cost and scalable execution makes it a great fit for traders who are interested in running algorithmic strategies.
IC Markets Cons
Trails the best Forex brokers in terms of its market research scope and educational content.
A proprietary trading app is not available.
OctaFX provides a low-cost, basic MetaTrader platform experience along with its social copy-trading platform. Although it has made significant progress in pricing options for traders but lacks a wide range of tradeable instruments as well as a variety of educational content, OctaFX is still a poor choice. OctaFX is also a holder of one regulatory license.
OctaFX Pros
OctaFX was founded in 2011 and is regulated by only one tier-2 jurisdiction (Cyprus). This makes it a high-risk broker in forex and CFD trading.
Keeps an increasing number of well-organized research with trading ideas, weekly forecasts and third-party content.
OctaFX is a brand new platform for social copy-trading.
OctaFX Cons
Customers who are served by the broker's offshore non-regulated entity in Saint Vincent & the Grenadines, (SVG), do not receive any regulatory protection.
OctaFX seems to have competitive trading costs. However, its listed spreads don't have corresponding date ranges and are paired only with a small selection of over 50 tradeable symbol pairs.
OctaFX is unable to compete in education with multi-asset brokers.
OctaFX no longer offers cTrader's platform.