Top 5 Forex Investment Companies in Nigeria

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The foreign trading is a global marketplace where investors can

exchange national currencies against one another. Forex trading is a

popular financial instrument that can make for financial freedom if

done properly. However, choosing the right forex investment company

can be a bit tricky. Nigeria has been fast developing in the area of

forex trading; hence you will find many good brokers. However, there

are many more scammers operating in the market. It is really important

to invest with only trusted and regulated Nigerian forex brokers, if

not forex trading can lead to enormous losses and potential penury.









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The criteria for assessing forex investment platforms include the

broker’s compliance with regulations, reviews from past or existing

customers, the amount of fee charged (including hidden charges),

minimum deposits allowed, trading & non-trading fees, promptness of

deposits & withdrawals, support & deposit bonus, funding & available

withdrawal methods, time lapse between transactions and executions,

etc.











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This article provides you with the top 5 forex investment companies

operating especially for Nigerian forex traders and investors. Read on

below:

Forextime





Forextime is no doubt one of the best Forex investment platforms in

Nigeria. They are also one of the few forex brokers with a local

office and phone lines in Nigeria. Forextime is secure and safe for

Nigerian forex traders. The platform is regulated under various legal

laws in countries such as UK, Belize and Cyprus. Forextime operates in

57 major and minor currency pairs.



Forextime also beats other forex brokers in terms of their promptness

in withdrawal and support. Forextime offers local customer support in

English. It also offers 19 deposit & withdrawal options which include

popular Nigerian trading methods of bank deposit & card payment. Users

of Forextime can also create a demo accounts to learn how to forex

trade and build up their confidence. With Forextime, you can start

trading with just a deposit of N2000, this makes them a good option

for new traders. Lastly, Forextime also offers a wide range of

educational material and investment tips, including webinars to help

its users trade better. to its clients, including trading webinars.







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Alpari: Good ECN (Electronic Communication Network) broker & Low minimum deposit





Alpari is one of the oldest forex brokers in the world. It is also one

of the largest in terms of the monthly transactions that happen on its

platform. Alpari has a local office in Abuja, it also seeks to offer a

good trading environment with good promotions, local deposit options,

and 24 hours of customer support services. This makes it a great

choice for Nigerian traders. Alpari has six different account types,

with the Nano account, a forex trader can deposit as low as zero.

Another bonus with Alpari is that you can also trade cryptocurrencies

such as Ethereum and Bitcoin, however, this is limited to their ECN

accounts only. Alpari does not charge any extra commission other than

the spread. It also charges a very low spread on major currencies such

as EUR/USD. In addition to all the above, Alpari offers zero fees with

all their deposit methods, a 30% bonus offer for new users, and a

loyalty bonus for old users. These mouth-watering offers make it a

great option.



OctaFX â€" Low spread broker, commission-free local deposits and withdrawals





OctaFX is regulated by CySEC also accepts Nigerian forex traders on

its platform. It offers good trading conditions such as a competitive

spread, fixed and variable Meta trader 4 accounts, Meta trader 5

accounts, cTrader, Nigerian bank deposits and withdrawal methods, and

trading platforms for mobile phones, websites, and desktop.



OctaFX offers a competitive spread on all trading assets, especially

for those who seek to trade in major currency pairs, and 3 main

cryptocurrencies (Bitcoin, Ethereum, and Litecoin).



Their customer support is also prompt in responding to issues, with

chat support available 5 days a week and email support, 24/7. They

also have WhatsApp text support available. However, they don’t have

a Nigerian phone number currently. OctaFX offers funding and

withdrawal options for Nigerian traders through Skrill, Neteller, BTC,

and quick zero fees funding via bank transfer, or cash, or ATM in

their GTBank account.







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Hotforex: FCA Regulated, Low spread & 100% Deposit Bonus





Hotforex is one of the most recommended low-cost brokers in Nigeria.

It was established in the year, 2010.



It has a local office and phone support in Nigeria. Hotforex is

regulated by the Financial Conduct Authority (FCA), Financial Sector

Conduct Authority (FSCA) South Africa, and CySEC and hence, a trusted

broker for Nigerians.



Hotforex offers Prompt execution of a trade, low spreads on major

currencies such as EUR/USD. It also provides good customer support.

Hotforex is a good forex platform for those who are just starting to

trade and invest in forex and for those looking for a low-cost broker.

Hotforex offers a very low minimum deposit (as low as $) They also

offer very competitive spread on EUR/USD with Zero Account.



Furthermore, Hotforex offers multi-platforms, whereby you can trade

with Android, iPhone, and desktop. You can also trade on the

MetaTrader 4 or Metatrader 5 platforms. Hotforex also offers Nigerian

bank withdrawal and deposit methods as well as many wallet options. To

use Hotforex, a minimum deposit of N30,000 is required for new

clients.



XM Forex





XM broker is well regulated, fast execution of a trade, low spread,

and is available on many platforms. It also offers a wide choice of

trading instruments. The only downside to XM is that they do not have

a local office in Nigeria. XM brokers offer 55 forex currencies, and

more than 350 CFD (Contract for difference) instruments on its

platform, which allows you to speculate on the rise and fall of prices

of global markets. XM Forex also offers international training &

education to traders on its platform. It offers low deposits and

competitive fees, one of the lowest amongst all other forex investment

platforms. XM has three major account types and does not charge any

commission with any of their trading accounts.











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