What is the difference between stock CFDs and buying real shares?

Real share trading gives you ownership and dividend rights. Stock CFDs let you trade price movements with leverage but you don't own the underlying share. CFDs are better for short-term speculation; real shares suit long-term investing.

Are dividends paid on stock CFDs?

With CFDs, brokers typically apply a dividend adjustment to your account rather than paying the actual dividend. Long positions receive a credit; short positions receive a debit.

Which stock markets can I access through these brokers?

Most brokers in this ranking offer access to major exchanges including NYSE, NASDAQ, LSE, and Euronext. Check each broker's market page for the full list of supported exchanges.

What is the minimum deposit to trade stocks in Nigeria?

46 brokers on this list accept traders from Nigeria with no minimum deposit ($0). The lowest non-zero minimum deposit among brokers available in Nigeria is $1. For better risk management and position sizing, most experts recommend starting with at least $100–$200 regardless of the broker's minimum.

Which is the top-rated broker in this list for 2026?

Based on our scoring algorithm, Interactive Brokers currently ranks #1 with a score of 4.4/5. Scores are recalculated every 24 hours as broker data changes.

Best Stock Brokers in Nigeria 2026 — Expert Rankings

What to Look For in Stock Brokers in Nigeria

When selecting a stock broker in Nigeria, it is crucial to consider the regulatory framework within which the broker operates. Regulatory compliance ensures that the broker adheres to international standards, providing a layer of protection for investors. The Securities and Exchange Commission of Nigeria is a notable regulatory body, and choosing brokers with additional international licences from reputable organisations can further assure safety and reliability.

Fees are another critical factor. Competitive pricing models can significantly impact your investment returns, so it is essential to scrutinise the fee structures, including commissions, spreads, and any hidden costs. A transparent fee schedule enables investors to make informed decisions, ensuring costs do not erode potential profits.

Additionally, the quality of trading platforms offered by brokers can influence your trading experience. A robust and user-friendly platform equipped with analytical tools, real-time data, and reliable execution speeds can enhance trading efficiency. Moreover, mobile trading capabilities have become increasingly important, giving investors the flexibility to manage their portfolios on the go.

How We Rank Stock Brokers in Nigeria

Our ranking methodology for stock brokers in Nigeria is grounded in a comprehensive scoring system that evaluates six key categories. Regulation accounts for 25% of the score, as it is paramount to ensure brokers operate within legal and ethical boundaries. Fees, contributing 20% to the overall score, are assessed for transparency and competitiveness, ensuring that investors get value for their money.

Platforms contribute 15% to the score, where we assess functionality and ease of use. Markets, accounting for 10%, evaluates the range of instruments available for trading. Trust and user experience (UX) each account for 15%. Trust measures the broker’s reputation and reliability, while UX evaluates the ease and convenience of navigating the broker’s services.

Top Picks at a Glance

Interactive Brokers: Renowned for its comprehensive range of investment options and highly competitive pricing structure, making it ideal for cost-conscious traders.
Forex.com: Offers a robust platform with a wide array of analytical tools, perfectly suited for traders who value detailed market insights.
IG Group: Stands out with its extensive educational resources and research tools, which are beneficial for both novice and experienced investors.
Vantage: Known for its exceptional customer service and user-friendly platform, providing a seamless trading experience for all levels of traders.
Pepperstone: Excels in offering low-latency execution and competitive spreads, making it an excellent choice for active traders seeking efficiency.

Best Stock Brokers in Nigeria 2026

Interactive Brokers

Forex.com

IG Group

FxPro

Pepperstone

City Index

CMC Markets

XM

eToro

Saxo Bank

Plus500

AvaTrade

Capital.com

BlackBull Markets

ThinkMarkets

FBS

IC Markets

Vantage Markets

FP Markets

XTB

ForTrade

Swissquote

HFM

Admiral Markets

Exness

Markets.com

Phillip Capital

Dukascopy

Moomoo

Libertex

Exante

Axi

EasyMarkets

MultiBank Group

InstaForex

FXTM

Tiger Brokers

Webull

Trading 212

Fusion Markets

ActivTrades

NAGA

Purple Trading

Skilling

Fineco Bank

TMGM

Stake

HYCM

LiteFinance

LYNX Broker

LHV

Spreadex

Just2Trade

Freedom Finance

Revolut Trading

DEGIRO

Equiti

EasyEquities

Amana Capital

Moneybox

Windsor Brokers

Bitpanda

Bestinvest

Vanguard UK

BDSwiss

Chipper Cash

InvestEngine

HSBC InvestDirect

Sharesies

Absa Stockbrokers

Standard Bank Online Share Trading

HC Securities

Scalable Capital

Trade Republic

BUX

Revolut

Raiz Invest

Interactive Investor

FNB Share Investing