1,062 broker-country pairs measured448 brokers20 countriesformula v1.0recalculated 2026-08-27data re-captured 2026-08-27updated 1 day agoAffiliate links never change scores.

eToro in NG — review, licence and costs

COChiamaka Okafor author DMDaniel Mercer editor TATunde Adeyemi fact-checker score recalculated 01.10.2026
yesAccepts residents of NigeriaOpened by eToro (Nigeria) Ltd, SEC Nigeria licence no data, register checked 2026-08-27

Cost calculator (47 of 82 accounts · median of 82 priced)

Halden, per monthno data
Nigeria median, per month6

Who actually onboards you(47 of 82 local and 1 offshore entity in the group)

  1. Sign-up from a Nigeria addressRouted to Nigeria Ltd by residence, not by IP.
  2. KYC by Nigeria LtdNIN and proof of address.
  3. Contract with the LtdSEC Nigeria rules apply; complaints go to SEC Nigeria.
  4. Client moneySegregated with a Nigeria bank; bank name no data
Local entityUsed for Nigerian residents
  • eToro (Nigeria) Ltd, SEC Nigeria SEC/RC/2021/071
  • Retail leverage 1:50NG
  • Negative balance protection: yes
Offshore entityNot used for Nigerian residents
  • Halden Global Ltd, FSA Seychelles
  • Leverage 1:1000group
  • No SEC Nigeria complaints route

If the sign-up form ever lands you on the Seychelles entity, the SEC Nigeria licence above does not cover your account.

Leverage by entity (47 of 82 of 82 entities stated)

The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.

Local entity · onboards youLocal entitylocal · SEC Nigeria licence no data
1:500NG
Nigeria median, local entities: 1:50 · 18 of 20 statedApplies to you
Local entity · onboards youOffshore entityoffshore · SEC Nigeria licence no data
1:1000NG
Nigeria median, local entities: 1:50 · 18 of 20 statedApplies to you

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

Client protection (47 of 82 of 82 stated)

  • Local entity onboards youNot locally regulatedclient agreement §4.2 · page
  • Segregated client fundsno dataclient agreement §4.2 · page
  • Negative balance protectionno dataclient agreement §4.2 · page
  • Investor compensation schemeno dataclient agreement §4.2 · page
  • Regulator warning on filenone foundclient agreement §4.2 · page

“no data” 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 47 of 82 of 82)

Round turn, 1 lot EURUSD, spread plus commission, USD
Halden Raw6.20
Nigeria median, raw and swap-free9.20
Halden Standard11.40
Nigeria median, standard (47 of 82 priced)13.90
InstrumentHalden Raw, USDHalden Std, USDNigeria median rawNigeria median stdPriced
EURUSD6.2011.409.2013.9017 / 30
EURUSD6.2011.409.2013.9017 / 30
EURUSD6.2011.409.2013.9017 / 30
EURUSD6.2011.409.2013.9017 / 30
EURUSD6.2011.409.2013.9017 / 30
EURUSD6.2011.409.2013.9017 / 30

Medians run over the brokers that publish a Nigeria price, never over all 44. Group-wide prices are excluded.

Accounts(47 of 82 types)

AccountMin deposit, USDEURUSD spread, pipsCommission, USDLeverageSwapCurrencies

Swap-free account terms (47 of 82 terms · 5 stated)

TermHalden, Nigeria

Terms read from the account page on 01.10.2026. The cap on open positions is not published.

Payouts(47 of 82 of 82 methods timed)

MethodDeposit, hWithdrawal, hFee, USDMin, USD

Taxes for a Nigerian resident(47 of 82 rules · as of 10.2026)

  • Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).no datano data

Not tax advice. Check with the FIRS.

Deposit and withdrawal methods (47 of 82 methods · 2 local)

  • NGN paymentslocal
    Deposit
    instant
    Withdrawal
    deposit only
    Fee
    no data
Account currency
USD, GBP, EUR
Fastest withdrawal
no data h NG
Fee declared
4 of 6 methods
Withdrawal back to
the funding method

Where it does not serve(47 of 82 countries)

Algeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, NepalAlgeria, Angola, Antarctica, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belgium, Belize, Bermuda, Bolivia, Bonaire, Brazil, Brunei, Cameroon, Cayman Islands, Chad, Chagos Islands, Christmas Island, Cocos Islands, Colombia, Comoros, Costa Rica, Curacao, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Falkland Islands, Gambia, Georgia, Guatemala, Guernsey, Heard Island, Honduras, Hong Kong, India, Indonesia Islands, Israel, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Lesotho, Macau, Malawi, Malaysia, Maldives, Mexico, Micronesia, Mongolia, Morocco, Mozambique, Nepal

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

Platforms and markets(47 of 82 of 82 platforms confirmed · 6 asset classes)

MT5
Web, mobile apps
cTrader
Web, mobile apps
Web terminal
Web, mobile apps
Mobile app
Web, mobile apps
Copy trading
Web, mobile apps
TradingView
Web, mobile apps
ClassCountMin spreadLeverage

Reviews(47 of 82 platform · 25% of the score)

4.2/ 5
Trustpilot rating
1,384
reviews
28.09
snapshot, 2026
5 star64%
4 star14%
3 star6%
2 star4%
1 star12%
SnapshotRatingReviews

Share of reviewers in Nigeria: no data The platform does not publish it.

Topics in 1-star reviews (47 of 82 reviews, snapshot 28.09.2026)

Withdrawal delays41 · 25%
Verification (KYC)33 · 20%
Slippage22 · 13%
Support response19 · 11%
Other51 · 31%

Pros and cons(47 of 82 + 5, each tied to a figure above)

For
  • Raw round turn 6.20 USD vs Nigeria median 9.20
  • SEC Nigeria licence SEC/RC/2021/071, active on 01.10.2026
  • NGN account; bank withdrawal 24 h, fee 0
  • Swap-free with no admin fee; ranked #1 of 30
  • One of 6 of 44 brokers that publish a withdrawal time
Against
  • Payouts axis 58 of 100, the lowest of six
  • Min deposit 100 USD vs 10 at Tidemark
  • E-wallet withdrawal time and fee not published
  • Group site advertises 1:1000, unavailable to Nigerian residents
  • Gold round turn 9.80 USD; 3 brokers price it lower

Alternatives in Nigeria(47 of 82 of 82)

Methodology(47 of 82 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 measuredHalden

Where Halden sits in the Nigeria base(47 of 82 brokers)

Round-turn cost, USD (47 of 82 of 82 priced)

2<6.5
26.5–7.5
27.5–8.5
38.5–9.5
39.5–10.5
110.5–11.5
4≥11.5

Highlighted: Halden Raw at 6.20

Minimum deposit, USD (47 of 82 of 82 priced)

9<25
925–99
10100
3101–299
4≥300

Highlighted: Halden at 100 · Nigeria median 50

Retail leverage (47 of 82 of 82 with a Nigeria figure)

11≤1:30
71:50
51:51–200
61:201–400
10>1:400

1 group-only figure excluded · 4 no data

Withdrawal time published (47 of 82 brokers)

6of 44
Published, hours6No data38Halden is one of the 6

FAQ(47 of 82 questions)

Verified · What changed · Sources(47 of 82 sources · 4 changes)

Verified01.10.2026
next review 01.01.2027
What changed
    Sources · precision