75 brokers measured in Nigeriabroker data checked 27.08.2026
FXCM logoFXCMStratos Global LLC

FXCM in Nigeria — review, licence and costs

Written and checked by the Harmattan Desk editorial team · how we score ·  score recalculated 01.10.2026
yesAccepts residents of NigeriaOpened by FXCM (Nigeria) Ltd, register checked 27.08.2026

Cost calculator (median of 57 priced of 81)

FXCM, per month150.00 USD
Nigeria median, per month130.00 USD

Score (6 of 6 axes scored)

3.6/ 5.0

ranked against full-basis brokers

2 + 3 × 0.533 = 3.6 · axes on 0–100, total on 2.0–5.0
Screenshot of the FXCM website
FXCM's own site, captured for this review (07.10.2026)

Who actually onboards you

Entity that onboards Nigeria residents
Stratos Global LLC
Local standing
Not locally regulated
Licence as the register states it
Global offshore entity
Leverage for this entity
Up to 1:400
The firm behind it
Founded 1999, global broker
What we hold against it
No NBP, offshore oversight

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.

The entity that onboards youStratos Global LLCLocal or offshore not stated in the source · SEC Nigeria licence —
1:400NG
Nigeria median, local entities: 1:50 · 18 of 20 statedApplies to you

Scale from 1:10 to 1:3000, logarithmic.

Client protection

  • Local entity onboards youNot locally regulated
  • 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)

Round turn, 1 lot EURUSD, spread plus commission, USD
FXCM, raw spread plus commission—
Nigeria median, all 57 priced6.5
Nigeria median, the 47 priced on the raw spread plus commission6

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: Standard live, demo, Islamic. 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(1 method)

MethodDeposit, hWithdrawal, hFee, USDMin, USD
NGN bank transfer24—050

Taxes for a Nigerian resident

    Not tax advice. Check with the FIRS.

    Deposit and withdrawal methods (1 methods · 1 local)

    NGN bank transfer

    • NGN bank transferlocal
    Account currency
    NGN supported
    Fee declared
    1 of 1 methods
    Withdrawal back to
    the funding method

    Where it does not serve(9 countries)

    United StatesCanadaUnited KingdomEuropean UnionHong KongAustraliaIsraelJapanIndia

    From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.

    Platforms and markets(4 platforms)

    • Trading Station
    • MT4
    • ZuluTrade
    ClassCountMin spread
    Trading Station—1.3
    MT4—1.3
    ZuluTrade—1.3
    Forex pairs41—

    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 400 NG.

    Reviews(1 platform · 25% of the score)

    4.4/ 5
    Trustpilot rating
    —
    reviews
    02.10.2026
    snapshot, 2026
    SnapshotRatingReviews
    02.10.20264.4—

    Share of reviewers in Nigeria: — The platform does not publish it.

    Pros and cons(3 for and 5 against, each tied to a figure on this page)

    For
    • Swap-free account available
    • Track record 100 of 100, its strongest of 6 scored axes
    • 3 platforms: Trading Station, MT4, ZuluTrade
    Against
    • Round turn 7.5 USD on the raw + commission basis, over the Nigeria median 6.5
    • No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
    • Min deposit 50 USD, over the Nigeria median 20
    • Withdrawal in 72 h, over the Nigeria median 24
    • Safety 0 of 100, its weakest of 6 scored axes

    Alternatives in Nigeria(6 of 81 scored in Nigeria)

    3.91
    MultiBank Group
    Licensed elsewhere
    Round turn, USD
    6NG
    Min deposit, USD
    50 groupNG
    Leverage
    500NG
    Rank in this country
    #12
    4.07
    OctaFX
    Licensed elsewhere
    Round turn, USD
    9NG
    Min deposit, USD
    25 groupNG
    Leverage
    1000 group
    Rank in this country
    #2
    3.84
    ThinkMarkets
    Licensed elsewhere
    Round turn, USD
    7NG
    Min deposit, USD
    50NG
    Leverage
    500NG
    Rank in this country
    #14
    3.81
    Errante
    Licensed elsewhere
    Round turn, USD
    6NG
    Min deposit, USD
    50NG
    Leverage
    1000NG
    Rank in this country
    #18
    3.7
    Vantage
    Licensed elsewhere
    Round turn, USD
    6NG
    Min deposit, USD
    50NG
    Leverage
    500NG
    Rank in this country
    #24
    3.63
    Moneta Markets
    Licensed elsewhere
    Round turn, USD
    7NG
    Min deposit, USD
    50NG
    Leverage
    1000NG
    Rank in this country
    #32

    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

    AxisWeightWhat is measuredFXCM
    Reviews25%Rating, volume and recency on one public review platform70
    Round-turn cost20%Round turn on 1 lot EURUSD: spread plus commission, against the country median88
    Safety20%Local authorisation, the entity that onboards you, any regulator warning0
    Payouts15%Published withdrawal time, fees and the methods available in the country40
    Track record10%Years since the firm was founded, from its own filings100
    Platforms10%Which trading platforms the broker confirms for this country25

    Where FXCM sits in the Nigeria base(81 brokers)

    Round-turn cost, USD (57 of 81 priced)

    9<5
    337.5
    810
    112.5
    215
    117.5
    3>17.5

    Median 6.5 USD · range 3-20 · this broker 7.5 USD · 24 of 81 brokers do not publish it

    Minimum deposit, USD (29 of 81 priced)

    13<20
    440
    760
    080
    5>80

    Median 20 USD · range 0-100 · this broker 50 USD · 52 of 81 brokers do not publish it

    Retail leverage (53 of 81 with a Nigeria figure)

    28<1k
    132k
    73k
    54k
    0>4k

    Median 1:500 · range 100-3000 · this broker 1:400 · 28 of 81 brokers do not publish it

    Withdrawal time published (81 brokers)

    6of 75
    Published, hours6not published38FXCM is one of the 6

    FAQ

    Does FXCM accept residents of Nigeria?
    Yes. Not locally regulated Onboarding entity: Stratos Global LLC
    Is FXCM licensed to serve clients in Nigeria?
    Global offshore entity Checked on 27.08.2026.
    How much does one round turn cost at FXCM?
    About 7.5 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
    What leverage does FXCM offer to retail clients in Nigeria?
    Up to 1:400. leverageGeo: Up to 1:400
    Which trading platforms does FXCM support?
    Trading Station, MT4, ZuluTrade. Instruments: Forex, CFDs, crypto
    How can I withdraw money from FXCM in Nigeria?
    NGN bank transfer
    What account types does FXCM offer?
    Standard live, demo, Islamic
    Does FXCM offer a swap-free (Islamic) account?
    Yes. FXCM offers a swap-free (Islamic) account to Nigeria residents.

    Verified · Sources

    Verified01.10.2026
    next review 01.01.2027