Lowest Spread Forex Brokers in Nigeria 2026
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the lowest spread Forex brokers in Nigeria based on our analysis:
- 1
AvaTrade - Best low spread Forex Broker in Nigeria - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 2
FP Markets - Robust regulation, serious fund protection plus segregated accounts in AA banks. Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server. Rich selection of trading platforms. - 3
- 4
ACY Securities - Robust regulation and segregated accounts at major Australian banks. A range of accounts featuring low spreads and competitive commissions. Excellent selection of trading platforms. - 5
Eightcap - Support for popular platforms MT4, MT5, and integration with TradingView. Over 800 trading instruments, including 160+ cryptocurrency CFDs. Regulated by ASIC, FCA, CySEC, and SCB. - 6
easyMarkets - Regulated in many jurisdictions. Unique risk management tools (dealCancellation, Freeze Rate). Access to various trading platforms. - 7
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 8
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 9
AMarkets - A wide range of trading assets. Extensive analytical capabilities using modern tools and trading robots. No commissions on many operations. - 10
HF Markets - Regulated by reputable financial authorities. Wide selection of trading assets. A variety of educational materials and analytical reviews.
The spread is one of the key factors when selecting a Forex broker, as it represents the cost of entering a trade. Lower spreads help traders reduce expenses and improve overall trading performance.
Comparison of the Best Forex Brokers with Low Spreads in Nigeria
| Broker |  AvaTrade |  FP Markets |  IC Markets |
|---|---|---|---|
| Rating | 4.7/5 | 4.7/5 | 4.7/5 |
| Foundation Year | 2005 | 2005 | 2007 |
| Regulated in Countries | Ireland, British Virgin Islands, Australia, South Africa, Japan, United Arab Emirates, Israel, Canada | Australia, Cyprus, South Africa, Saint Vincent and the Grenadines, Seychelles | Seychelles, Australia, Cyprus, Kenya |
| Regulators | Central Bank of Ireland Central Bank of Ireland KNF KNF FCA FCA BVIFSC BVIFSC ASIC ASIC FSCA FSCA JFSA JFSA JFFA JFFA FSRA FSRA ISA ISA CIRO CIRO | ASIC ASIC CySEC CySEC FSCA FSCA SVGFSA SVGFSA SFSA SFSA | SFSA SFSA ASIC ASIC CySEC CySEC CMA CMA |
| Minimum Deposit |
|
|
|
| Trading Accounts |
|
|
|
| Spread | from 0.6 points | from 0 points | from 0 points |
| Trading Assets (CFDs) |
|
|
|
| Trading Platforms |
|
|
|
| Review | AvaTrade Review | FP Markets Review | IC Markets Review |
| Broker Comparison | |||
| RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds |
List of the Best Low Spread Forex Brokers in Nigeria 2026
1. AvaTrade
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
2. FP Markets
FP Markets successfully combines a strict licensing framework, a fast ECN order book with zero spreads, a rich selection of platforms — ranging from classic MT4/5 to TradingView and Iress DMA — and a developed analytics, education, and 24/7 support infrastructure. This combination makes the broker attractive for active scalpers and algorithmic traders who value speed and moderate commission per lot, as well as for investors preferring copy trading, PAMM/MAM, or DMA stocks via Iress. Beginners will benefit from a low entry of 100 AUD, online courses, and no inactivity fees.
Pros and Cons of FP Markets
Pros
- Robust regulation, serious fund protection plus segregated accounts in AA banks.
- Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server.
- Rich selection of trading platforms.
- Wide range of instruments.
- Numerous deposit/withdrawal methods.
- Strong analytics and education.
- 24/7 support.
Cons
- Lack of cent accounts and fixed spread accounts.
- Some analytical materials and software are accessible only with a deposit or trading volume.
3. IC Markets
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
4. ACY Securities
ACY Securities is a reliable Australian broker offering high-quality services with transparent trading conditions. With strict regulation and a diverse range of trading instruments, the broker caters to both novice and experienced professionals, including enthusiasts of automated and copy trading. ACY is particularly appealing to traders who value low spreads, a broad mix of assets, and high-quality analytics.
Pros and Cons of ACY Securities
Pros
- Robust regulation and segregated accounts at major Australian banks.
- A range of accounts featuring low spreads and competitive commissions.
- Excellent selection of trading platforms.
- Over 1200 trading instruments: forex CFDs, stocks, ETFs, cryptocurrencies.
- High-quality analytics and a variety of educational resources.
- Convenient and swift deposit and withdrawal methods with no fees (first 3 withdrawals per month free).
Cons
- Lack of cent accounts and fixed spread accounts.
- No weekend support available.
5. Eightcap
Eightcap is a modern broker with reliable regulation, convenient MT4, MT5, and TradingView platforms, and a wide selection of instruments, including over 160 cryptocurrency CFDs. It suits traders who value technology, fast market access, and competitive trading conditions. The broker will be especially interesting for active traders and those who use CFD instruments, but is less convenient for investors seeking passive trading solutions.
Pros and Cons of Eightcap
Pros
- Support for popular platforms MT4, MT5, and integration with TradingView.
- Over 800 trading instruments, including 160+ cryptocurrency CFDs.
- Regulated by ASIC, FCA, CySEC, and SCB.
- Convenient deposit and withdrawal methods with no fees.
- Modern analytics tools: AI economic calendar and FlashTrader for MT5.
Cons
- No cent or Islamic accounts.
- No passive trading solutions (copy trading, PAMM).
6. easyMarkets
easyMarkets is a reliable international broker with nearly 25 years of experience, licenses from leading regulators (CySEC, ASIC, FSCA, etc.), and a focus on simplicity and trading safety. It suits beginner traders thanks to a low minimum deposit from 25 USD, fixed spreads, and a convenient proprietary platform with unique risk management tools. At the same time, the broker will also appeal to more experienced users thanks to the availability of MT4, MT5, TradingView, Islamic accounts, and VIP service. Despite a relatively average selection of CFD instruments and the absence of passive trading services, easyMarkets delivers a good combination of reliability, technology, and customer support.
Pros and Cons of easyMarkets
Pros
- Regulated in many jurisdictions.
- Unique risk management tools (dealCancellation, Freeze Rate).
- Access to various trading platforms.
- Minimum deposit from 25 USD, convenient for beginners.
- A wide range of deposit and withdrawal methods, including cryptocurrencies.
- Strong analytics (Daily Pitch, AI reviews, trading signals).
- Competent support with many contact channels.
Cons
- High swaps compared to competitors.
- No cent accounts or passive trading services (PAMM, copy trading).
- Average number of CFD instruments, behind market leaders.
7. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
8. RoboForex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
9. AMarkets
AMarkets is a versatile broker offering a full range of services in the Forex market. It enables independent trading and investing funds in copy trading with equal success.
Traders can access several accounts with low spreads, permitted scalping, and fast trade execution. Up-to-date analytics, valuable services, and rapid fund withdrawal support a stable technical platform.
Investors who are not keen on engaging in independent trading can still achieve significant profits by copying the trades of successful traders. Building a portfolio is time-efficient and offers the possibility of passive income.
Pros and Cons of AMarkets
Pros
- A wide range of trading assets.
- Extensive analytical capabilities using modern tools and trading robots.
- No commissions on many operations.
- Convenience and simplicity of opening an account and managing it.
Cons
- Not the most extensive educational materials.
- On some assets, spreads are higher than those of competing Forex brokers.
10. HF Markets
HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets
Pros
- Regulated by reputable financial authorities.
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
What to Consider When Choosing a Low Spread Forex Broker in Nigeria
When choosing a low spread Forex broker in Nigeria, traders should look beyond advertised spread figures and evaluate several important factors that influence total trading costs, execution quality, and account suitability.
Regulation & Trustworthiness
A reliable broker should be regulated by well-established international authorities. Since Nigeria does not have a dedicated Forex regulator comparable to major global bodies, many Nigerian traders rely on brokers regulated by organizations such as the FCA (UK), ASIC (Australia), or CySEC (Cyprus). Strong regulation helps ensure transparency, proper segregation of client funds, and higher levels of trader protection.
Spread Structure & Commissions
Low spreads are typically offered through different pricing models:
- Raw / ECN accounts, with spreads starting from 0.0 pips plus a fixed commission per trade, best suited for scalpers and active traders.
- Spread-only accounts, where all trading costs are included in slightly wider spreads, often preferred by beginners or occasional traders.
Understanding the total “all-in” trading cost is essential when comparing brokers.
Order Execution & Slippage
Tight spreads are most effective when combined with fast and reliable execution. Look for brokers that provide:
- STP or ECN execution models
- Low-latency trading infrastructure
- Minimal slippage during periods of high market volatility
Trading Platforms & Conditions
A competitive broker should support popular platforms such as MetaTrader 4 and MetaTrader 5, offer advanced charting and analysis tools, and allow flexible position sizing. Reasonable leverage options and stable trading conditions are also important for Nigerian traders.
Islamic (Swap-Free) Accounts
Given that a significant portion of Nigeria’s population is Muslim, the availability of an Islamic (swap-free) account is an important factor. These accounts comply with Sharia principles by eliminating overnight interest (riba) while maintaining similar trading conditions to standard accounts. Many top Forex brokers in Nigeria offer dedicated Islamic accounts without hidden swap-related charges.
Additional Costs & Fees
To keep trading truly low-cost, traders should review non-trading fees carefully. Many competitive Forex brokers available in Nigeria offer:
- Free deposits and withdrawals
- No account maintenance fees
- Inactivity fees only after long periods without trading
How We Selected the Lowest Spread Forex Brokers in Nigeria
Our list of the best low spread Forex brokers in Nigeria was created using a structured evaluation process aimed at identifying brokers that combine competitive trading costs with reliable and transparent trading conditions.
- First, the selection is based on our broader database of international Forex brokers. Each broker is initially assessed for overall reputation, operational history, financial stability, regulatory status, and long-term consistency in service quality.
- Second, all brokers featured on this page are reviewed using our internal evaluation methodology. This review focuses on the transparency of spreads and commissions, order execution quality, platform performance, customer support availability, and overall reliability under real market conditions.
- A key requirement for inclusion was the ability to accept clients from Nigeria and operate under well-recognized regulatory authorities such as the FCA (UK), ASIC, or CySEC. Strong regulatory oversight helps ensure compliance standards, proper segregation of client funds, and enhanced trader protection.
- Finally, special emphasis was placed on brokers that consistently offer spreads at or below the market average. Lower spreads directly reduce trading costs and improve trading efficiency, particularly for active traders and those using short-term strategies.
These criteria ensure that the low spread Forex brokers in Nigeria featured on this page offer a balanced combination of cost efficiency, regulatory reliability, and high-quality trading conditions tailored to Nigerian traders.
FAQ
What Is a Spread in Forex Trading?
A spread is the difference between the bid (buy) price and the ask (sell) price of a currency pair. It represents the primary trading cost paid to the broker when a position is opened.
What Are Low Spread Forex Brokers and Why Do They Matter?
Low spread Forex brokers offer tighter bid–ask differences than average. They matter because lower spreads reduce trading costs, which can significantly improve results, especially for frequent and short-term traders.
Which Forex Brokers Have the Lowest Spreads in Nigeria?
Brokers offering ECN or Raw spread accounts usually provide the lowest spreads for Nigerian traders. These accounts often feature spreads from 0.0 pips combined with a fixed commission per trade.
Is There a Zero Spread Forex Broker in Nigeria?
No broker offers true zero spreads at all times. However, some brokers provide near-zero spreads on major currency pairs during high-liquidity market conditions, with costs covered through commissions.
How Do Low Spread Forex Brokers Make Money?
Low spread brokers generate revenue through trading commissions, slightly marked-up spreads, or a combination of both. Some may also charge non-trading fees or offer premium services.
What Is Considered a Low Spread in Forex?
A low spread is generally considered to be:
- 0.0–0.3 pips on major pairs for Raw/ECN accounts
- 0.6–1.2 pips on standard spread-only accounts
These levels are competitive under normal market conditions.
Which Forex Pairs Have the Lowest Spreads?
Major currency pairs usually have the lowest spreads due to high liquidity, including:
- EUR/USD
- USD/JPY
- GBP/USD
- AUD/USD
Are Low Spreads Better for Scalping and Day Trading?
Yes. Low spreads are particularly important for scalping and day trading, where profits depend on small price movements and frequent trade execution.
Which Low Spread Forex Broker Is Best for Scalping?
The best brokers for scalping typically offer ECN execution, ultra-tight spreads, fast order processing, and minimal slippage. Execution quality is just as important as spread size.
Do Low Spread Brokers Charge Hidden Fees?
Reputable brokers are transparent about their pricing. However, traders should always review the fee schedule for commissions, inactivity fees, or currency conversion charges.
What Non-Trading Fees Do Low Spread Brokers Charge in Nigeria?
Common non-trading fees may include:
- Inactivity fees after extended periods without trading
- Currency conversion fees
- Withdrawal fees (often waived by competitive brokers)
Deposit fees are usually free.
How Is the Forex Spread Calculated?
The spread is calculated as:
Ask price – Bid price = Spread
For example, if EUR/USD is quoted at 1.1000 / 1.1002, the spread is 2 pips.
What Makes the Lowest Spread Forex Brokers Stand Out?
They typically combine tight spreads with:
- Fast and stable execution
- Transparent pricing structures
- Reliable trading platforms
- Strong international regulation
Which Forex Brokers Offer the Lowest All-In Trading Costs?
Brokers offering Raw or ECN accounts often provide the lowest all-in trading costs when spreads and commissions are combined, especially for active traders.
Is Forex Trading Suitable for Beginners in Nigeria?
Yes, Forex trading can be suitable for beginners in Nigeria if they start with regulated brokers, use demo accounts, trade small position sizes, and choose simple account types with clear and transparent pricing.
