Best TradingView Brokers in Nigeria
TradingView is probably the most popular charting platform in the world. It is a comprehensive charting platform that traders use for technical analysis, to share ideas, and to connect with other traders. The platform has features that allow a trader to chart, add indicators, and analyze real-time data to predict the movement of an asset. This allows traders to adjust their strategies to maximize their profit potential. Further, the platform is suitable for all types of traders whether advanced traders or novices.
This article will explore some of the best TradingView brokers in Nigeria. But first, a little more information on TradingView.
About TradingView
TradingView is a charting platform used for financial market analysis and social networking that helps traders make informed decisions. The platform has a large customer base with about 30 million users. Its easy-to-use interface and extensive charting tools make the platform popular among all types of traders. On the platform, traders can track a variety of trading instruments including forex, indices, crypto, and stocks. Additionally, traders can place orders directly from the platform’s charts. However, for this, traders need a broker that supports TradingView as a trading platform and not just a charting tool.
With that, let’s look at some of the best TradingView brokers for Nigerian traders.
Best TradingView Brokers in Nigeria
Pepperstone
Pepperstone is one of the brokers that offer TradngView to Nigerian traders. While the broker is not regulated in Nigeria it has licenses from several reputable organizations in the world. The company has 7 licenses, some of which include the CySEC in Cyprus, the ASIC in Australia, the FCA in the UK, and the CMA in Kenya. With such regulations, it's no surprise that the broker is highly rated by Nigerian traders. Furthermore, traders can invest in over 1,200 CFDs on forex, commodities, indices, shares, ETFs, and many more. With the diversity offered by the broker, traders can spread their risk across the global market.
Notably, Pepperstone offers TradingView as a trading platform and not just a charting tool. This broker was voted TradingView Broker of The Year 2022 in the TradingView Broker Awards. Traders can place orders directly on TradingView. Apart from TradingView, there are other popular platforms available for traders to choose from. They include the MetaTrader 4 and 5 which are the world's most popular platforms. Additionally, traders can use cTrader. The platforms offer traders some of the fastest order execution speeds in the market for Nigerians to enjoy.
Further, the broker offers two trading accounts including the razor and the standard account. The accounts offer different fee structures with each having a different spread and commission. The standard account has spreads as low as 1.0 pips for major currency pairs with no commission. On the other hand, the razor account spread is as low as 0.0 pips for major currency pairs. However, traders pay a small commission of $3.5 per lot per side when using the MT4, MT5 or TradingView and $3 per side per lot when using cTrader.
Traders who wish to use the TradingView platform have to trade on the razor account, the standard account is not available when using this trading platform.
Pepperstone was awarded “Broker of the Year 2022” prize by TradingView.com.
Capital.com
Capital.com also offers TradingView to Nigerian traders. Traders can transform their trading with features such as advanced charts, trading alerts, technical analysis, and financial analysis on the platform. Apart from that, Capital.com also allows traders to place orders directly using TradingView. The other platform that traders can use to place orders is MetaTrader 4. However, the broker also allows traders to use its API to link to other programs for automated trading.
Positively, Nigerian traders can invest in a variety of CFDs on Capital.com. The broker has over 3,700 world-renowned markets for traders to invest in. Some of the global markets include forex, indices, cryptocurrencies, commodities, and shares. Further, the charges on Capital.com are competitively low. As an example, the spreads start from as low as 0.6 pips for major currency pairs. Unlike other brokers, Capital.com do not charge traders the following when you trade: commission, currency conversion, funding, withdrawal, opening an account, and inactivity fee.
Regarding the regulatory status of the broker, Capital.com does not disappoint. Several renowned organizations in the market regulate the broker. They include the CySEC in Cyprus, ASIC in Australia, and the FCA in the UK.
City Index
City Index is one of the fastest brokers in the world today that offers TradingView. What's more, the broker has additional trading platforms for all types of traders to choose from. They include MT4, WebTrader, and mobile apps. The broker is regulated by some reputable organizations in the world. The broker has licenses from CySEC in Cyprus, ASIC in Australia, and the FCA in the UK. This suggests that the broker is keen on following the most strict laws in the market.
Traders can choose from a wide array of trading instruments. This broker gives traders access to over 5,000 global markets including forex, indices, commodities, shares, and bonds. With such diversity, it allows traders to spread the risk across the various markets.
Further, the broker offers two main accounts which include the standard and MT4 accounts. The standard account has a low minimum spread of 0.8 pips for major currency pairs with no commission. The only market that charges commissions is the shares market.
Saxo Bank
Saxo Bank is one of the oldest online trading platforms connecting investors and traders to various global markets. Nigerian traders can access various world-class trading platforms including its in-house trading platforms SaxoTraderGO and SaxoTraderPRO. What's more, the broker has a partnership with TradingView and clients can access its powerful charting tools and rich community of traders from all over the world.
Further, this broker has regulations from well-respected organizations in the world. These include the ASIC in Australia, the FCA in the UK, and FINMA in Switzerland. With such strong regulators, it is easy for the broker to win clients and investors' trust.
Nigerian clients have access to more than 8,800 financial instruments that range from forex, indices, stocks, ETFs, bonds, crypto, Mutual funds, and many more. With this range of markets, Nigerians can reduce risk by diversifying their investment. The charges that apply depend on the account a trader is using. The broker offers some of the lowest spreads in the market on its various trading accounts. The accounts include classic, platinum, and VIP accounts, and the spreads start from as low as 0.6 pips for major currency pairs.
What are the benefits of TradingView?
There are many reasons why TradingView is so popular among traders. Let's look at some of its key advantages:
TradingView Brokers - Conclusion
TradingView is popular among traders. With features like real-time market data to help traders get fast and accurate information, you can understand why it's popular. What's more, the platform allows traders to be part of a community where they can share ideas and strategies. All types of Nigerian traders can use the platform due to its intuitive nature and customizable tools to help in maximizing profit.
In this article, we listed some of the best TradingView brokers in Nigeria. We mentioned their trading conditions and regulatory statuses. It is our belief that these brokers would serve most traders to their satisfaction. However, since this is not the full list of all brokers with TradingView, we call upon traders to do a lot of research and choose a broker that better suits their needs.