Choosing a good online Forex Broker is a difficult task. Online Forex Brokers must not only be technically advanced, they must also be accessible to you to the same degree as a traditional Forex Broker sitting in an office. Before choosing an online best forex broker in Nigeria, keep certain points in mind as a checklist.
The broker must have a physical address, where you can visit him in case you have any problems with online trading.
Brokers usually offer currency exchange between a limited number of currency pairs. Check if your online Forex broker has the particular currency pair you want to trade. In general, online brokers offering currency exchange in more than 30 pairs will satisfy your demand.
Commission and brokerage fees should below. You don't want commissions and brokerage to take away a large chunk of your earnings.
If you are a small investor, check if your broker allows you to open a currency exchange account with a small initial amount.
Also ask about the trading platform that you will be using, once you partner with an online broker. Experienced online brokers often offer multiple platforms (meta-trader, x station, x social, etc.). They also offer video tutorials and technical help for new investors so that trading on these platforms is easy and does not become a frustrating job, where you do not understand the purpose of various online tools.