FxPro 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
- FxPro Markets Direct Costa Rica Latam SRL
- Local standing
- Unregulated locally; SEC Nigeria does not license offshore CFD brokers. Not on a Nigerian regulator warning list at review.
- Licence as the register states it
- No local Nigerian (SEC Nigeria) licence. Group holds FCA/CySEC/FSCA/SCB.
- Leverage for this entity
- Up to 1:200 via offshore entity; one review cited 1:30/1:20 caps — conflicting, not verified at review.
- The firm behind it
- FxPro founded 2006; HQ London and Limassol; no-dealing-desk execution.
- What we hold against it
- No local regulation; flag: offshore Costa Rica onboarding entity is unregulated, so no local investor-protection scheme.
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 youUnregulated locally; SEC Nigeria does not license offshore CFD brokers. Not on a Nigerian regulator warning list at review.
- Segregated client fundsstated by the broker
- Negative balance protection
- 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: Standard, Raw+, cTrader, Elite, VIP. Minimum deposit USD 100 / NGN equivalent. 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://fxscouts.ng/broker/fxpro
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (4 methods · 1 local)
Local NGN bank transfers, Visa/Mastercard debit cards, e-payments, crypto.
- Local NGN bank transferslocal
- Visa
- Mastercard debit cards
- Crypto
- Account currency
- NGN-denominated accounts reported; also USD, EUR, GBP.
- Fee declared
- 4 of 4 methods
- Withdrawal back to
- the funding method
Where it does not serve(2 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
- cTrader
- FxPro Edge
Identical for every row: Min spread 1.2 · Leverage 200 NG.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.4 | 860 |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(4 for and 5 against, each tied to a figure on this page)
- Withdrawal in 3 h, one of 71 of 81 brokers here that publish a time
- Swap-free account available
- Track record 100 of 100, its strongest of 6 scored axes
- 4 platforms: MT4, MT5, cTrader, FxPro Edge
- Round turn 7 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 100 USD, over the Nigeria median 20
- The published 1:200 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
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #1
- Round turn, USD
- 9NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 400 group
- Rank in this country
- #19
- Round turn, USD
- 7NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #31
- 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
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 | FxPro |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 70 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 90 |
| 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 | 98 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 70 |
Where FxPro sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 7 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 1:200 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does FxPro accept residents of Nigeria?
- No. Unregulated locally; SEC Nigeria does not license offshore CFD brokers. Not on a Nigerian regulator warning list at review. Onboarding entity: FxPro Markets Direct Costa Rica Latam SRL
- Is FxPro licensed to serve clients in Nigeria?
- No local Nigerian (SEC Nigeria) licence. Group holds FCA/CySEC/FSCA/SCB. Checked on 09.07.2026.
- How much does one round turn cost at FxPro?
- About 7.0 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
- What leverage does FxPro offer to retail clients in Nigeria?
- Up to 1:200. Up to 1:200 via offshore entity; one review cited 1:30/1:20 caps — conflicting, not verified at review.
- Which trading platforms does FxPro support?
- MT4, MT5, cTrader, FxPro Edge. Instruments: FX, indices, shares, metals, energies, crypto CFDs.
- How can I withdraw money from FxPro in Nigeria?
- Local NGN bank transfers, Visa/Mastercard debit cards, e-payments, crypto.
- What account types does FxPro offer?
- Standard, Raw+, cTrader, Elite, VIP. Minimum deposit USD 100 / NGN equivalent.
- Does FxPro offer a swap-free (Islamic) account?
- Yes. FxPro offers a swap-free (Islamic) account to Nigeria residents.