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CAPEX in Nigeria — review, licence and costs
Cost calculator (median of 57 priced of 81)
Score (6 of 6 axes scored)
ranked against full-basis brokers
Who actually onboards you
- Entity that onboards Nigeria residents
- KW Investments Ltd
- Local standing
- Not SEC-Nigeria regulated. Post-NAGA merger CAPEX.com no longer accepts new clients; directed to NAGA Markets.
- Licence as the register states it
- No SEC Nigeria licence. Offshore Seychelles FSA SD020 only.
- Leverage for this entity
- Offshore Seychelles up to ~1:300 (historic). Not verified for new NG clients (onboarding closed).
- The firm behind it
- CAPEX.com launched 2016 by Key Way Group; merged into NAGA Group Aug 2024.
- What we hold against it
- Not SEC-Nigeria licensed. Brand winding down; onboarding closed, redirected to NAGA.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youNot SEC-Nigeria regulated. Post-NAGA merger CAPEX.com no longer accepts new clients; directed to NAGA Markets.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Nigeria market median(priced from 57 of 81)
Medians run over the 57 of 81 brokers that publish a price for Nigeria, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Essential ($100), Original ($1, 000), Signature ($25, 000). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts(2 methods)
| Method | Deposit, h | Fee, USD | Min, USD |
|---|---|---|---|
| Cards | 24 | 0 | 50 |
| Bank wire | 24 | 0 | 50 |
Taxes for a Nigerian resident(1 rule)
- Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).https://ng.investing.com/brokers/reviews/capex-com
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (2 methods · 0 local rails)
Cards, bank wire, e-wallets.
- Cards
- Bank wire
- Account currency
- USD/EUR. No NGN account verified.
- Fee declared
- 2 of 2 methods
- Withdrawal back to
- the funding method
Where it does not serve(8 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- CapexTrader
- MT5
| Class | Min spread | Leverage |
|---|---|---|
| CapexTrader | 1.4 | 300NG |
| MT5 | 1.4 | 300NG |
147 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 141 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.1 | 1,900 |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(3 for and 4 against, each tied to a figure on this page)
- Withdrawal in 24 h, one of 71 of 81 brokers here that publish a time
- Swap-free account available
- Round-turn cost 92 of 100, its strongest of 6 scored axes
- No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
- Min deposit 100 USD, over the Nigeria median 20
- The published 1:300 comes from the group's offshore entity, not from the Nigeria one
- Safety 10 of 100, its weakest of 6 scored axes
Alternatives in Nigeria(5 of 81 scored in Nigeria)
- Round turn, USD
- 6NG
- Min deposit, USD
- 100NG
- Leverage
- 500NG
- Rank in this country
- #8
- Round turn, USD
- 7NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #15
- Round turn, USD
- 7NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 1000NG
- Rank in this country
- #21
- Round turn, USD
- 6NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #37
- Round turn, USD
- 6NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #1
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Nigeria score. Full methodology
| Axis | Weight | What is measured | CAPEX |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 55 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 92 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 10 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 50 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 25 |
Where CAPEX sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 6.5 USD · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 100 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · this broker 1:300 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does CAPEX accept residents of Nigeria?
- No. Not SEC-Nigeria regulated. Post-NAGA merger CAPEX.com no longer accepts new clients; directed to NAGA Markets. Onboarding entity: KW Investments Ltd
- Is CAPEX licensed to serve clients in Nigeria?
- No SEC Nigeria licence. Offshore Seychelles FSA SD020 only. Checked on 09.07.2026.
- How much does one round turn cost at CAPEX?
- About 6.5 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
- What leverage does CAPEX offer to retail clients in Nigeria?
- Up to 1:300. leverageGeo: Offshore Seychelles up to ~1:300 (historic). Not verified for new NG clients (onboarding closed).
- Which trading platforms does CAPEX support?
- CapexTrader, MT5. Instruments: 2,100+ instruments: FX, shares, ETFs, indices, commodities, crypto CFDs.
- How can I withdraw money from CAPEX in Nigeria?
- Cards, bank wire, e-wallets. Nigerian local rails not verified at review.
- What account types does CAPEX offer?
- Essential ($100), Original ($1,000), Signature ($25,000).
- Does CAPEX offer a swap-free (Islamic) account?
- Yes. CAPEX offers a swap-free (Islamic) account to Nigeria residents.