FxPro's website
FBS 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
- FBS Markets Inc
- Local standing
- Offshore; forex is legal but not locally regulated by SEC/CBN, no local recourse.
- Licence as the register states it
- Belize FSC/IFSC; not SEC Nigeria licensed.
- Leverage for this entity
- Up to 1:3000 under Belize entity; not locally capped.
- The firm behind it
- FBS founded 2009, Belize-based, serves 150+ countries; popular in Nigeria.
- What we hold against it
- Not locally regulated; legal to use offshore broker but no CBN/SEC protection.
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 youOffshore; forex is legal but not locally regulated by SEC/CBN, no local recourse.
- 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: Cent, Standard, ECN/ECO, Zero Spread, Crypto. 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
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 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://fbs.com
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (3 methods · 0 local rails)
Local bank transfer, cards, e-wallets;
- Local bank transfer
- Cards
- E-wallets
- Account currency
- USD or EUR; no NGN base accounts verified.
- Fee declared
- 3 of 3 methods
- Withdrawal back to
- the funding method
Where it does not serve(6 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(4 platforms)
- MT4
- MT5
- FBS Trader app
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 0.7 |
| MT5 | — | 0.7 |
| FBS Trader app | — | 0.7 |
| All instruments | 550+ | — |
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.
Identical for every row: Leverage 3000 NG.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.2 | — |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(5 for and 4 against, each tied to a figure on this page)
- Min deposit 5 USD, under the Nigeria median 20
- Withdrawal in 24 h, one of 71 of 81 brokers here that publish a time
- Swap-free account available
- Track record 85 of 100, its strongest of 6 scored axes
- 3 platforms: MT4, MT5, FBS Trader app
- Round turn 13 USD on the standard basis, over the Nigeria median 6.5
- No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
- The published 1:3000 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
- 9NG
- Min deposit, USD
- 25 groupNG
- Leverage
- 1000 group
- Rank in this country
- #2
- Round turn, USD
- 7NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 200NG
- Rank in this country
- #13
- Round turn, USD
- 7NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 1000NG
- Rank in this country
- #16
- Round turn, USD
- 7NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 1000NG
- Rank in this country
- #23
- Round turn, USD
- 7NG
- Min deposit, USD
- 5 groupNG
- Leverage
- 1000NG
- Rank in this country
- #25
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 | FBS |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 60 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 60 |
| 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 | 85 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
Where FBS sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 13 USD · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 5 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 1:3000 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does FBS accept residents of Nigeria?
- No. Offshore; forex is legal but not locally regulated by SEC/CBN, no local recourse. Onboarding entity: FBS Markets Inc
- Is FBS licensed to serve clients in Nigeria?
- Belize FSC/IFSC; not SEC Nigeria licensed. Checked on 09.07.2026.
- How much does one round turn cost at FBS?
- About 13.0 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
- What leverage does FBS offer to retail clients in Nigeria?
- Up to 1:3000. Up to 1:3000 under Belize entity; not locally capped.
- Which trading platforms does FBS support?
- MT4, MT5, FBS Trader app. Instruments: FX pairs, metals, indices, energies, stocks, crypto CFDs.
- How can I withdraw money from FBS in Nigeria?
- Local bank transfer, cards, e-wallets; NGN rails likely but exact methods not verified.
- What account types does FBS offer?
- Cent, Standard, ECN/ECO, Zero Spread, Crypto.
- Does FBS offer a swap-free (Islamic) account?
- Yes. FBS offers a swap-free (Islamic) account to Nigeria residents.