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HERE IS A LIST OF FOREX BROKERS THAT OFFER HIGH LEVERAGE TO NIGERIANS

Best Forex Brokers with High Leverage in Nigeria

Leverage is one of the most important tools in trading. It allows traders to control larger positions in the market than they would if they used only their own capital. Essentially, a forex broker can allow its traders to place orders with borrowed capital in order to control larger positions. As such, it can increase the potential returns earned by a trader. However, leverage is a double-edged sword that can also lead to a significant loss of funds. As such, leverage should only ever be used alongside meticulous risk-management strategies and a deep knowledge of the market. That way, it can be a resourceful tool.


In this review, we will look at some of the best high leverage forex brokers in Nigeria. We will look at the leverage level they have to offer and other features of the broker. But before we do that, we want to make sure that you have a full understanding of how leverage works, its advantages, and the risks involved. 

Understanding Leveraged Trading

As we have mentioned, trading with leverage allows traders to place larger orders with less money upfront. This can mean bigger gains, but also bigger losses. It's important to understand the risks and choose a leverage level that matches your risk tolerance. Understanding the risks involved is key as the trader will then adjust their leverage level depending on how much they want to risk. 


Overleveraging is one of the pitfalls that traders may fall into if they are not careful. Even small market movements against a trader’s position can quickly snowball into significant losses. They can even wipe out their entire account balance. The rules around leverage can vary depending on where a broker operates. Some countries have no leverage limits and allow brokers more freedom to set their own leverage levels. This means a broker might offer a conservative leverage ratio in one region and a more aggressive one in another.

In Nigeria, there are no restrictions. As such, brokers operating in this country can offer relatively high leverage to their traders. Ultimately, how much leverage a trader uses depends on their individual situation. Experienced traders might choose higher leverage for specific strategies, while beginners might opt for lower leverage to minimize risk. It all boils down to a trader's risk tolerance level and trading goals.


Now that we have a better understanding of leverage, let's explore some of the best forex brokers with high leverage in Nigeria.

Best High Leverage Brokers in Nigeria


Exness

Trading Forex and CFDs entail risk.

Your capital is at risk.

🏦 Regulation: FSCA, CMA, CySEC, FCA 💰 Spreads: as low as 0.3 pips
⚖️ Max. leverage: 1:Unlimited ▶️ Min. deposit: $10/15,000 NGN
📊 Forex pairs: 100+ 🔎 Trading platforms: MT4, MT5, Exness Terminal

Exness has regulations from several institutions around the world. It operates under the supervision of the FSCA in South Africa, the CMA in Kenya, the FCA in the UK, and the CySEC in Cyprus. Notably, this broker offers one of the highest leverage levels by any broker to Nigerian traders. The leverage on this broker site goes up to 1:unlimited. As such, this broker allows traders to trade with whatever leverage they desire. On this broker site, it is upon the trader to confine themselves from overleveraging. 


Exness allows clients to invest in a wide range of financial markets through Contracts for Difference (CFDs). These include over 250 different CFDs on forex, metals, indices, cryptocurrencies, energies, and stocks. This can be done by using leverage, which amplifies potential returns but also increases risk. 


To suit different trader preferences, Exness provides three different trading platforms: MetaTrader 4, MetaTrader 5, and Exness Terminal. Additionally, there are five different trading accounts for traders to choose from. These include two standard accounts and three professional accounts. The spreads on this broker site can be as low as 0.2 pips on the standard account. However, they can go even lower at 0.0 pips, with a commission of $3.50 per side per lot depending on the account type.


XM.com

Trading Forex and CFDs entail risk.

Your capital is at risk.

🏦 Regulation: FSC, CySEC, FCA, ASIC 💰 Spreads: as low as 0.6 pips
⚖️ Max. leverage: 1:1000 ▶️ Min. deposit: 5$
📊 Forex pairs: 55 🔎 Trading Platforms: MT4, MT5

XM is another broker that offers relatively high leverage to Nigerian traders. The clients of this broker site can access financial leverage of up to 1:1000. Traders can use this high leverage to trade a variety of global market products. Specifically, traders on the XM broker site can access over 1,000 CFDs on forex, indices, cryptocurrencies, precious metals, stocks, energies, and shares.


Further, XM holds licenses from several reputable organizations from around the world. These include the FSC in Belize, the FCA, the ASIC, and the CySEC. Note that regulations alone are never enough. However, having regulations from multiple organizations is always a good sign from a broker.


Traders are always looking to trade with a broker that offers low spreads when trading. Well, XM is suitable for many Nigerian traders as it offers competitively low spreads starting from 0.6 pips for major currency pairs. There is no commission paid on Forex and CFDs accounts. Only the Shares account on this broker site charges a commission. On another note, clients can trade using a variety of trading platforms including MetaTrader 4 and 5, alongside the XM trading app.


Pepperstone

Trading Forex and CFDs entail risk.

Your capital is at risk.

🏦 Regulation: CMA, ASIC, FCA, DFSA 💰 Spreads: as low as 1.0 pips
⚖️ Max. leverage: 1:400 ▶️ Min. deposit: No minimum deposit
📊 Forex pairs: 60+ 🔎 Trading Platforms: MT4, MT5, cTrader,
TradingView, Pepperstone Trading Platform

Pepperstone gives Nigerian traders access to a total of over 1,200 CFDs on forex, commodities, indices, cryptocurrencies, shares, and ETFs. Notably, the broker provides five different trading platforms that include MetaTrader 4, MetaTrader 5, cTrader, TradingView, and Pepperstone Trading Platform. 


The maximum leverage available for Nigerian traders on Pepperstone sits at 1:400. This fairly high leverage coupled with low spreads offers some of the best trading conditions on any broker site. In particular, Pepperstone has a spread as low as 1.0 pips on its standard account with no commission required. Additionally, the broker offers a raw account with spreads as low as 0.0 pips with a commission depending on the trading platform. The MetaTrader platforms, TradingView, and Pepperstone Trading Platform all charge a commission of $3.5 per side per lot. Contrarily, cTrader charges traders a commission of $3 per side per lot. 


Finally, Pepperstone has regulations from various regulatory watchdogs in the world. The broker has authorization and supervision by the CMA from Kenya, the ASIC from Australia, the FCA from the UK, and the BaFin from Germany, among others.


FP Markets

Trading Forex and CFDs entail risk.

Your capital is at risk.

🏦 Regulation: FSCA, CySEC, ASIC 💰 Spreads: as low as 1.0 pips
⚖️ Max. leverage: 1:500 ▶️ Min. deposit: $100
📊 Forex pairs: 70+ 🔎 Trading Platforms: MT4, MT5,
IRESS, cTrader, TradingView

Next up is FP Markets. This is another high leverage broker with good regulations for Nigerian traders. This broker is regulated by the FSCA, the CySEC, and the ASIC, among others. There are various  world-class trading platforms supplied by this broker to its clients. These include MetaTrader 4, MetaTrader 5, IRESS, cTrader, and TradingView.


These platforms allow traders to invest in a number of market products. Some of the markets clients can invest in on this trading platform include forex, shares, commodities, indices, bonds, EFTs, and cryptocurrencies. Notably, FP Markets offers clients a fairly high leverage of up to 1:500. The spreads for trading on this broker site are competitive starting at 1.0 pips for major currency pairs on the standard account. However, the raw account offers lower spreads from 0.0 pips plus a commission of $3 per side per lot.


Vantage Markets

Trading Forex and CFDs entail risk.

Your capital is at risk.

🏦 Regulation: FSCA, CySEC, ASIC, CIMA 💰 Spreads: as low as 1.0 pips
⚖️ Max. leverage: 1:1000 ▶️ Min. deposit: $50
📊 Forex pairs: 40+ 🔎 Trading Platforms: MT4, MT5,
ProTrader, WebTrader

Just like XM, Vantage Markets also offers Nigerian traders maximum leverage as high as 1:1000. Additionally, Vantage Markets also offers traders a deep collection of market products. This broker allows its clients to trade over 1,000 market instruments which include CFDs on forex, indices, precious metals, commodities, energy, ETFs, shares, and bonds. The trading platforms available to choose from include MetaTrader 4, MetaTrader 5, ProTrader, and WebTrader.


The spreads for trading on this broker site are fairly low starting at 1.0 pips for major currency pairs on the Standard STP account. There are three more trading accounts all featuring spreads from as low as 0.0 pips plus a commission depending on the account. The commission can range from $0 to $3 per side per lot depending on the account.


Finally, let’s review the regulatory status of Vantage Markets. This broker is under the regulation and supervision of the FSCA in South Africa, the CySEC in Cyprus, and the ASIC in Australia, among others. These are great regulators whose goal is to maintain a fair trading environment for both investors and brokers.


Admiral Markets

Trading Forex and CFDs entail risk.

Your capital is at risk.

🏦 Regulation: FSCA, CMA, CySEC, FCA 💰 Spreads: as low as 0.5 pips
⚖️ Max. leverage: 1:500 ▶️ Min. deposit: $25
📊 Forex pairs: 80+ 🔎 Trading Platforms: MT4, MT5, cTrader,
WebTrader, and Admirals Mobile App

Closing out this list is Admiral Markets. This broker holds a license from the FSCA, the CMA, the FCA, and the CySEC. Such regulations make a broker more attractive to traders as they are a sign of companies that follow financial laws.


The maximum leverage offered by Admiral Markets sits at 1:500 which is high for most traders in the market. Clients of this broker site can use this leverage to place orders in a number of market instruments. The broker gives clients access to assets in the forex, commodities, indices, stocks, ETFs, and bonds markets.


The trading platforms available to choose from include MetaTrader 4, MetaTrader 5, WebTrader, and Admirals Mobile App. These platforms offer simple-to-use interfaces plus advanced capabilities, including fast order executions.

 

On another note, the broker offers industry-standard spreads when trading. Here, the spreads depend on the account a trader uses. The Trade.MT5 account has spreads starting from as low as 0.5 pips on major currency pairs. The rest of the accounts have spreads starting from 0.0 pips with commissions a $1.8 to $3 per lot commission paid depending on the account.


Closing Remarks

As we have seen, leverage is a double-edged sword. While it allows traders to amplify their potential profits, it also amplifies the potential losses. It allows traders who are confident in their trading strategies to control larger positions in the market than they would while using their capital alone. This is the main advantage of using leverage when trading. For Nigerian traders seeking high leverage forex brokers, there are several reputable options available. From Exness to XM, Vantage Markets, FP Markets, Pepperstone, and Admiral Markets, each broker offers varying levels of leverage, competitive spreads, and a range of trading platforms to suit different preferences. 


Nonetheless, the ultimate choice is upon each individual trader. While we listed some great options here, this is not meant to be an exhaustive list. All traders should do a comprehensive review before picking the trader they are most comfortable trading with.