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7 Best Forex Brokers in Nigeria



Forex Trading is exploding in Nigeria. Nigeria is now Africa’s fastest growing market with new brokers entering the market on a monthly basis. 

Here is a quick guide on forex brokers in Nigeria to consider.

1.   Alpari International
Alpari International is a popular choice for traders around the globe and serves more than 2 million traders. It was founded in 1998 and though the years it has proven itself to ne a reliable and reputable broker.

The broker offers excellent customer support, and the broker’s support team consists of experts available to answer a range of questions by phone, email and live chat. The broker’s offices are situated globally to offer specialised help, advice and guidance in order to ensure consistent and vital support. 

Alpari allows its clients to engage in flexible trading by choosing independent trading or joining Alpari Invest and following strategies from experienced traders. 

With the broker’s Loyalty Cashback program, clients also have the opportunity to get back part of their funds on different types of commission.

Alpari International is authorised and regulated in Mauritius by the FSC. Through its choice of powerful trading platforms, traders have access to over 250 trading instruments such as forex and CFDs.

Alpari International uses MetaTrader 4 and MetaTrader 5, both of which offer great flexibility, charting tools and an easy-to-use interface. 

For higher volumes, the broker also provides the Alpari International Direct platform which offers enhanced features for advanced investors.

2.   IG Markets
IG Markets provides more than 17 000 financial markets to nearly 180 thousand traders across the globe. These markets include a wide range of indices, forex, shares, commodities and cryptocurrencies through the MetaTrader 4 and ProRealTime platforms.

IG Markets is one of the oldest forex brokers, allowing traders to benefit from the company’s 45 years of experience. 
Trading at IG Markets is powered by an execution speed of approximately 0.014 seconds, which was provided to 86 million traders during the 2019 fiscal year alone.

IG Markets was awarded at the ADVFN International Financial Awards 2020 and Professional Trader Awards 2019, and continues to maintain a strong reputation in the industry for excellence. 

3.    HotForex

HotForex is a leading forex broker which differentiates itself by offering a competitive trading environment, with spreads starting from as low as 0.1 pips which can be traded using high leverage ratios.

This multi-award-winning company is accessible to a range of traders with various experience levels and trading strategies, offering a low minimum deposit of just 1 USD.

HotForex has also become a trusted trading partner, as the broker is known for its transparency, best trading conditions and excellent customer support.
Added to this, the broker also offers Negative Balance Support, so that clients will never have to suffer losses which exceed their investments.
HotForex offers traders access to a range of asset classes, which include such popular options as forex, cryptocurrencies, precious metals, commodities and many more.

It offers several promotions such as a 100% Supercharged Bonus and Instant Rebates, 100% Credit Bonus and a 30% Rescue Bonus. With more than 2 million live accounts and 35 prestigious awards, it’s easy to see why HotForex is ranked as one of the best brokers. 

4.    eToro
eToro offers is an excellent option for beginner and professional traders alike, offering low minimum deposits that start at 50 USD, with accounts that are powered by fast order execution, complemented by and efficient variety of deposit and withdrawal options.

Clients of eToro have access to trade almost 2000 financial instruments in a secure trading environment which is regulated by the Cypress Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and ASICin Australia.

Clients of eToro can invest in a large variety of stocks without paying any markups, ticketing or management fees. Added to this, traders will not be limited by trading volumes.

Clients can also connect with other traders, discuss trading strategies, and are provided access to the broker’s patented CopyTrader technology.
This advanced technology allows users to automatically copy other successful traders’ portfolios for an enhanced investment experience, providing a compelling incentive to join eToro.

5.    AvaTrade 

AvaTrade is authorised and regulated in South Africa, Europe, Japan, British Virgin Islands and Australia. 
First established in 2006, the broker was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

The broker provides traders with access to three different trading platforms, namely MetaTrader 4 and 5, as well as AvaTradeGO, through which traders can choose more than 250 financial instruments.

AvaTrade provides clients with access to forex, stocks, indices, commodities and cryptocurrencies. 
The broker provides a range of different accounts which can be funded for as low as 100 USD, and which offer several added benefits such as swap-free options, competitive spreads and EA compatibility.

AvaTrade has collected numerous awards during the years, its trading websites are available in more than 20 languages and it provides a wide selection of training and educational tools.

6.    CM Trading
CM Trading, the largest forex broker is South Africa, is well regulated and offers a safe trading environment for all traders. 
CM Trading provides clients with access to forex, commodities and indices, which can be traded for a variety of different experience levels and trading strategies.

AS such, clients of CM Trading will enjoy the broker’s variety of tailored account types, with spreads that start as low as 0.9 pips, and come with webinar access as well as swap-free options for Islamic clients.

As part of the broker’s commitment to empowering investors, the Avatrade team works to create a reliable and secure trading environment, complemented by innovation and best in class service. 

7. offers traders access to a wide selection of currency pairs, indices, ETFs, commodities, cryptocurrencies and shares. 
This wide variety of asset it classes offered through a number of advanced trading platforms, including Marketsx,Marketsi, as well as the highly popular MetaTrader 4 and MetaTrader 5 options.

Traders can open a live trading account at with a minimum deposit of 100 USD, and trade on high leverage, while enjoying a variety of efficient and secure deposit and withdrawal options.

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World’s largest oil producer loses four million barrels per day




Oil costs were totally started up at the main exchanging meeting of the week.

The irregular winter storm playing in key zones of the world’s biggest maker of oil saw an expected 4,000,000 barrels each day of oil yield shut down in Texas and different states, close by 21 billion cubic feet of petroleum gas yield.

Oil dealers are going bullish on the dark fluid hydrocarbon, over the phenomenal frosty spell in driving American energy center, Texas. Additionally giving raw petroleum bulls sufficient gas to remain at any rate over the $60 value level is the new advancement against the COVID-19 pandemic, thusly, raising expectations for energy request recuperation.

What you should know

Latest information recovered from the Energy Information Administration uncover the United States is right now the world’s biggest maker of oil, creating about 19.45 million barrels each day or 19% of the world’s complete raw petroleum creation in 2019.

At press time, Brent unrefined prospects mobilized by 1.13% to $62.84 a barrel with the Brent rough agreement turning over in February 21 to the May 21 agreement.

Stephen Innes, Chief Global Market Strategist at Axi, in a note to Nairametrics, gave key experiences on different macros burdening oil costs in any event for the close to term in the midst of high energy winning in worldwide monetary business sectors

“What started as a force issue for a modest bunch of US states immediately transformed into a worldwide stock stun for the oil markets. All things considered, the re-beginning of shut-in US creation and news that the Biden organization is investigating strategic re-commitment with Iran have added to a cooling of oil costs, in spite of the bullish stock information.

“In any case, “the following day”, see oil costs prodding higher in the midst of progressing proof of recuperation in worldwide interest, for the most part uplifting news on the Covid-19 patterns and expectation of an almost 2 trillion US boost intended to get individuals working again rapidly.”

What’s in store

The sharp flood in unrefined petroleum costs before OPEC+’s immensely significant gathering one month from now implies the analytics for the OPEC+ collusion turns out to be more muddled.

In any case, as oil yield stays obliged, unrefined petroleum stores are dropping and with COVID-19 immunizations promising a return towards regularity by the day’s end, assumptions keep on running high for oil markets.

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Crypto market value hits an all-time high of $1.68 trillion over strong demand




It was another enormous day for some crypto watchers in the crypto-stanza, as the crypto market broke record levels. Crypto market valuation penetrated the $1.68 trillion imprint for the time being prior to settling around $1.58 trillion value levels.

Thus, the worldwide crypto market cap is $1.58 trillion, a 0.28% increment throughout the most recent day.

The complete crypto market volume in the course of the most recent 24 hours is $141.41 billion, which makes a 27.60% lessening.

The complete volume in DeFi is at present $12.29 billion, 8.69% of the absolute crypto market 24-hour volume.

The volume of all steady coins is currently $107.20 billion, which is 75.81% of the all out crypto market 24-hour volume.

Bitcoin’s cost is presently $51,319.34.

Bitcoin’s predominance is presently 60.58%, a lessening of 0.78% over the course of the day.

Crypto experts have refered to the unbelievable interest seen from crypto dealers, pattern following mutual funds, and of late the ground-breaking institutional financial backers as among the explanations behind such record gains.

Crypto resources are flying as the world becomes flooded with record upgrade bargains, set off by worldwide national banks utilizing such projects in supporting the worldwide economy.

This unimaginable accomplishment in the crypto market shows worldwide financial backers and dealers are racing into advanced coins, and supporting against expansion inclined resources like monetary forms.

All things considered, the DeFi crypto market esteem at present stands at $67.97 Billion, a 22.13% diminishing throughout the most recent day.

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Elon Musk is again the world’s richest man after SpaceX valuation surge




49-year-old independent tycoon, Elon Musk is by and by, the world’s most extravagant individual on earth.

Tesla boss’ abundance flooded to $200 billion after the rocket organization, SpaceX he established finished another financing round, pushing him on the Bloomberg Billionaires Index for the second time in 2021.

He moved past, Amazon’s author Jeff Bezos, who is currently worth $194 billion and had a few days back prior recovered the title as the world’s most extravagant individual this week after Tesla shares plunged.

Late reports propose SpaceX raised another $850 million this month from a gathering of driving institutional financial backers drove by Sequoia Capital.

Such venture presently puts SpaceX’s valuation at $74 billion, a 60% bounce from August, and aided lift Musk’s total assets by about $11 billion, as indicated by the file.

November 15, 2016, documenting with the Federal Communications Commission uncovered the tech very rich person possessed 54% of SpaceX.

In spite of the fact that Bloomberg’s examination accepts he hasn’t sold his offers in resulting adjusts and that his stake has been weakened to about 47% in relation to the sum raised. The worth is diminished by 15% to represent run of the mill limits that partakes in unicorns pull in on the auxiliary market, as indicated by two dealers.

Elon Musk’s present abundance could undoubtedly purchase 114 million official ounces of gold or 3.20 billion barrels of raw petroleum (about 10% of Africa’s driving oil maker’s oil hold).

He at present leads the most important vehicle organization, Tesla, and furthermore claims SpaceX, which considers the U.S NASA its driving client.

Musk claims about 20% of Tesla, as indicated by a February 2020 administrative recording. A piece of his property is utilized as insurance for individual commitments.

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