Forex Brokers With Naira Account Funding in 2024 – Safest Brokers

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Read our detailed guide ranking the top Nigerian friendly Forex brokers facilitating seamless Naira account funding and trading locally securely.

While the popularity of global forex trading continues rising rapidly in Nigeria, a persistent challenge for local traders has been seamlessly funding trading accounts using the Nigerian Naira (NGN). Many international retail forex brokers cater more towards dollar or euro-based transactions. This leads to frustrating barriers for Nigerians including steep conversion fees, slow processing periods and outright denial of Naira transactions.

However, the good news is that today there are increasing options emerging for trusted forex brokers accepting Naira payments and processes. When Nigerian traders can quickly deposit and withdraw Naira directly, it provides notable conveniences:

  • Avoid international conversion fees eating into account balances
  • Faster transaction times improving trading responsiveness
  • Support trading goals better aligned with Naira amounts rather than dollar conversions

The aim of this guide is to highlight the best forex brokers in Nigeria enabling Nigerian traders and investors to fund accounts, trade currencies and withdraw proceeds directly using Naira with reliability and cost-efficiency.

We cover the key account funding options, fees, processing times and pros and cons traders should evaluate at the top forex brokers accepting Naira payments in 2024.

Knowing these details equips Nigerians to access the global 24-hour forex marketplace conveniently using local Naira transactions improved for today’s digital world.

Top 6 Forex Brokers with Naira Account in 2024

Below is a list of six Forex brokers that accept naira deposit:

  1. HFM

HFM is a Forex broker that accept naira deposit

HF Markets (HFM) is an internationally acclaimed online forex and commodities broker founded in 2007. Regulated by global authorities like the UK’s FCA and South Africa’s FSCA, HFM is a trusted and legit broker also catering to Nigerian traders.

Account Options

HotForex offers 3 main account types – Micro, Premium, and Zero Spread accounts. Minimum deposits range from $5 to $500. Nigerian traders can open accounts and trade in Naira amounts. Islamic swap-free accounts are also available.

Deposit & Withdrawal Details

HotForex facilitates Naira deposits and withdrawals via bank wire transfers, credit/debit cards, and eWallets like Neteller. No conversion fees apply but wire transfers have processing times of around 5 business days. Cards and eWallets enable faster next day Naira funding.


  • No conversion fees on NGN deposits/withdrawals
  • Reasonable processing times for wires
  • Multiple Naira funding methods


  • Amount limits on cards around ₦1,500,000
  • Wire transfers can be slow at nearly one week

HotForex provides a smooth experience for Nigerian clients to fund accounts using Naira. The ability to choose faster eWallet options offsets the slower bank processing times.

  1. Exness

Exness is a forex broker with naira account

Founded in 2008, Exness is a well-regulated forex and contracts for difference broker with authorization from top-tier regulators like the FCA and CySEC. Exness is legit in Nigeria and provides traders with secure access to global currency markets.

Account Options

Exness offers 3 main accounts for Nigerians – Mini, Standard and Razor with minimum deposits from $1 up to $20,000. Nigerian clients can conduct deposits, trades and withdrawals in the local Naira currency across account types. Each uses a spread-based pricing model without commissions.

Deposit & Withdrawal

Naira deposits and withdrawals at Exness are facilitated through wire transfers and ePayments vendors like Neteller and PerfectMoney. Processing varies from instant (ePayments) to 1 week for bank wires.

Read our complete and up to date Exness Nigeria Review


  • No conversion fees on NGN deposits/withdrawals
  • Multiple Naira funding methods options
  • Leading eWallet options available
  • Processes NGN quickly for wires
  • Local customer service reps available


  • Bank wires can take up to 5 business days
  • Daily deposit limits enforced

Exness allows streamlined funding and account access for Nigerian traders using the Naira with top eWallet platforms improving the speeds.

  1. OctaFX

Best forex broker with naira account - Octa FX

OctaFX is an established forex broker founded in 2011 that is licensed by the Cyprus Securities and Exchange Commission (CySEC) and caters reliably to clients globally including Nigerian traders.

Account Options

OctaFX offers Micro, ECN and Pro account types for Nigerian traders. Minimum deposits start from ₦15,000 up to ₦500,000. They enable Nigerians to directly open and fund accounts for forex and CFDs trading using the local Naira currency. Islamic accounts are also available.

Deposit & Withdrawal Details

Specific Naira deposit options include bank wire transfers locally through GTBank, FCMB and Zenith Bank with no conversion fees. OctaFX also accepts Naira deposits and withdrawals via Neteller, Skrill eWallets. Bank wires take 1 to 3 hours while eWallets are processed instantly.

Read our complete OctaFX Review


  • Direct deposits and withdrawal in Naira
  • No conversion fees on Naira deposits via bank transfer
  • Leading eWallet platforms available
  • Processed quickly for eWallets
  • Local Nigerian banks supported


  • Bank transfers slower than eWallets options

OctaFX makes it relatively seamless for Nigerian retail traders and investors to fund their international trading accounts locally using Naira for deposits and withdrawals.

  1. FXTM

Top forex brokers with naira account - FXTM

FXTM is a highly regarded international brokerage regulated by the UK’s FCA, EU’s CySEC, and other authorities. Trusted globally since 2011, FXTM is legit in Nigeria and services Nigerian clients reliably.

Account Options

FXTM offers a Standard Account option for Nigerians. The minimum deposit is $10 to start live trading popular forex pairs, crypto, stocks, commodities and indices using the Naira currency.

Deposit & Withdrawal Details

For Naira deposits, FXTM provides Nigerian bank details with Guaranty Trust Bank (GTB) locally to make swift transfers without conversion fees. Nigerians can visit GTB branches to directly deposit Naira into trading accounts. FXTM also enables deposits + withdrawals in Naira via popular eWallets like Skrill and Neteller. Withdrawals are also processed directly to Nigerian bank accounts in Naira without currency conversion expenses.


  • Naira denominated account and trading
  • No conversion fees on deposit/withdrawals
  • Well regulated brokerage


  • Monthly caps on Naira eWallet transactions

FXTM allows Nigerian traders to directly open and fund accounts with Naira for forex access through integrated local bank transfers.

  1. FBS

Best FX Platfom with naira account - FBS

FBS also made it to our list of forex brokers with naira accounts. This brokerage firm was founded in 2009 and holds regulation in IFSC Belize to provide forex and metals trading to clients globally. Though not locally regulated, FBS is legit in Nigeria and has a strong presence in the African markets including reliable brokerage services for Nigerians.

Account Options

FBS offers 3 main account types. Nigerians can open a Cent, Standard or Zero Spread account. The minimum deposit is only $5 dollar making forex trading accessible to Nigerian traders. FBS supports Naira for account funding.

Deposit & Withdrawal Details

Nigerian Naira support includes deposits and withdrawals via bank wires and eWallets facilitated reliably at no currency conversion costs. Funding is processed securely through accredited local banks.

Read our complete FBS Nigeria Review


  • Low $5 account minimum deposit
  • No conversion charges on Naira transfers
  • Leading eWallet partnered for payments
  • Smooth bank transfers for funding


  • Light regulation overseeing globally

  1. AvaTrade

forex brokers with naira account - Avatrade

AvaTrade is an established international brokerage serving over 200,000 clients globally. Regulated in the EU, Japan, South Africa and Australia, AvaTrade prides itself on localized solutions – including for Nigerian traders.

Account Options

AvaTrade provides the standard AvaTrader account for Nigerians supporting Naira deposits across their forex, CFD and crypto trading platforms accessible from $100 minimum.

Deposit & Withdrawal Details

Nigerians can fund accounts and access withdrawals in Naira conveniently via bank wire transfers or using Neteller and Skrill digital eWallets integrated natively avoiding conversion fees.


  • Multiple Naira funding methods
  • Leading eWallet platforms available
  • Dedicated localized support team


  • Higher minimums than rivals
  • eWallet caps per transaction

For Nigerians seeking to trade currencies, online stocks and cryptocurrencies using Naira funds, AvaTrade delivers seamlessly across funding, trading and support.

Choosing the Best Naira-Accepting Broker for You

When selecting a broker that allows Nigerian Naira transactions, first ensure they are regulated internationally to provide safety for your funds. Analyze key aspects like:

Key Factors to Consider

Regulation – Only trade with globally regulated brokers like HFM, FXCM, OctaFX and others we have listed in this guide to ensure investor protections.

Naira Transaction Fees – Brokers like FXTM and Exness process Naira payments with no conversion charges.

Naira Deposit & Withdrawal Speed – eWallets like Skrill on OctaFX take under 24 hours for Naira funding versus 5 days for bank wires.

Supported Banks – HFM enables Naira wires from top Nigerian banks such as GTBank, Zenith, and Access Bank.

Trading Platforms – Brokers like AvaTrade offer user-friendly options ideal for Nigerians starting forex and crypto trading.

Recommendations for Nigerian Traders

Here are tips for common trader types:

  • Beginners – Open an affordable Cent account with FBS using Naira.
  • High Volume Traders – HFM provides tiered accounts rewards active traders.
  • Crypto Traders – AvaTrade enables Naira deposits for leading crypto CFDs.
  • Automated Traders – Exness allows plugin bots and has Naira funding.

Doing due diligence using these parameters helps Nigerians match with an optimal internationally regulated broker fitting their funding requirements and trading style.


  1. What are the fastest ways to deposit Naira into a Forex broker account?

The fastest route is using digital wallets like Skrill or Neteller to deposit Naira. Transfers typically complete next business day. Bank wires can take 3-5 days to credit the brokerage.

  1. Are there Forex brokers that allow crypto to Naira withdrawals?

Yes, brokers like HFM and FXTM enable clients to withdraw funds from forex trading directly into local crypto wallets or to Nigerian Naira bank accounts seamlessly. Always check supported assets.

  1. Do all Forex brokers charge fees on Naira deposits and withdrawals?

Many brokers highlighted in this guide allow Naira transactions with no conversion fees including OctaFX, Exness, and AvaTrade. Others may add charges so compare transaction fees directly first.

  1. Can Nigerians access Islamic trading accounts with Naira?

Yes, Naira supporting brokers like HFM provide Islamic, swap-free accounts conforming with Sharia principles allowing trading using Naira funds conveniently.

  1. Does any forex broker offer trading bonuses when depositing Naira?

Yes, licensed broker FXTM provides an attractive 30% welcome bonus up to $500 for traders that make minimum $100 Naira deposits which can enhance your trading capital.