XM — Nigeria
Key facts (8)
- Who actually onboards you
- XM Global Limited
- Licence number
- not stated
- Established
- 2009
- Min deposit, USD
- not stated
- Platforms
- MT4 · MT5
- Local funding
- No direct NGN local transfer; Visa/Mastercard, N
- Max leverage
- 1000geo
- EURUSD
- 1.3 pipsgroup
This broker against the Nigeria middle (47 of 82)
| XM | Nigeria median | |
|---|---|---|
| Round turn, USD | 13.0 USD | 6.0 USD |
| Min deposit, USD | no data | 50.0 USD |
| Max leverage | 1000geo | 500.0geo |
| Withdrawal, h | no data | 24.0 h |
| EURUSD, standard | 1.3 pipsgroup | 1.1 pips |
| EURUSD, raw | 0.0 pipsgroup | 0.0 pips |
| Established | 2009 | 2009.0 |
| Platforms | 2 | 3.0 |
Accepts residents of Nigeria
Through an offshore entity
Score (4/6 axes)
Shown, not ranked: no review-platform rating
Licence check
Who actually onboards you
XM Global Limited
Offshore entity
Nigerian clients are onboarded under the offshore XM Global Limited (Belize FSC).
Accounts
Micro, Standard, Ultra Low (Standard/Micro), Zero, and Shares accounts; min deposit from USD 5 (Shares much higher).
Withdrawal time and methods
Cost against the Nigeria median (47 of 82)
standard
Rating, and how many people left it
Software and market access (2)
MT4 · MT5
1000+ instruments: 55+ forex pairs, stock indices, metals/energies/commodity CFDs and share CFDs; crypto CFDs vary by entity.
The tax side in Nigeria
Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS). Framework changed under the Nigeria Tax Act 2025 and Nigeria Tax Administration Act 2025, effective 1 January 2026. Individuals: forex/CFD gains generally taxed as part of personal income under progressive Personal Income Tax bands (as of the review): 0% on first N800,000; 15% on N800,000-N3m; 18%
Other brokers that onboard Nigeria residents (6)
Where it does not serve
United States of America, Canada, Israel, the Islamic Republic of Iran
Methodology
2 + 3 × weighted mean of six axes · reviews 25%, cost 20%, safety 20%, payouts 15%, track_record 10%, platforms 10%
Verified · what changed · sources (3)
Checked: 2026-07-09
- xm.com/regulation page
- forexbroker.ng domain
- safeforexbrokers.ng domain
FAQ (4)
Does XM accept residents of Nigeria?
Through an offshore entity.
Which entity onboards a Nigeria client of XM?
XM Global Limited
What licence does XM hold for Nigeria?
No licence number is published for this country.
What does one EURUSD lot cost at XM?
13.0 USD per round turn against a Nigeria median of 6.0 USD, measured on 47 of 82 brokers.