What a minimum deposit really tells you

The minimum deposit is the smallest amount an account can be opened with. It is the cheapest fact to publish and the easiest to misread: a NGN10 minimum says what the door costs, not what trading there costs.

Read it beside two other figures - the round-turn cost and the withdrawal time. A low minimum with a wide spread takes the difference back on every trade, and a low minimum you cannot withdraw from quickly is not a cheap account.

The ten below publish the lowest minimum deposit for residents of Nigeria. Where a broker states no minimum at all, that is recorded as zero, which is a figure, not a blank.

Minimum deposit, USD (60 of 81 · median 20 USD)

45<100

13100-200

1200-300

1300-400

0400+

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (24 of 81 counts · 75 brokers onboarding Nigerian residents)

24of 81

qualify for this ranking

30% of 81

17of 24

scored on all six axes

71% of 24

57of 81

publish a price

70% of 81

53of 81

publish a leverage figure for this country

65% of 81

Top 3 (of 3 ranked)

1Capital.com3.92highest score of the three · offshore (bahamas scb); not registered w · withdrawal in 24 h 2ThinkMarkets3.84offshore (seychelles fsa); no local sec · withdrawal in 24 h 3Errante3.81offshore only; not registered with niger · withdrawal in 24 h

What a minimum deposit really tells you (24 of 81)

By slice score, formula v1.0. · 24 of 75 brokers in this ranking · all 24

#	Broker	Round turn, USDNG	Min deposit, USDNG	Leverage	Withdrawal, hNG	Score	Execution	Founded	Funding
1	Exinity	4	30	2000NG	24	4.02	ECN/raw + standard	1998	2 methods · local
2	Capital.com	6	20	200NG	24	3.92	Standard	2016	3 methods
3	ThinkMarkets	7	50	500NG	24	3.84	ECN/raw + standard	2010	4 methods
4	Errante	6	50	1000NG	24	3.81	ECN/raw + standard	2020	5 methods
5	FXChoice	7	100	200NG	24	3.8	ECN/raw + standard	2010	4 methods
6	Mitrade	4	20	200NG	48	3.79	Standard	2011	—
7	Alpari	8	30	3000NG	24	3.76	ECN/raw + standard	1998	6 methods · local
8	Vantage	6	50	500NG	72	3.7	ECN/raw + standard	2020	6 methods · local
9	JustMarkets	6	10	3000NG	48	3.67	ECN/raw + standard	2012	3 methods · local
10	FreshForex	6	10	2000NG	0.17	3.66	ECN/raw + standard	2004	5 methods · local
11	Bamboo	—	1	—stated, not verified	—	3.66	—	2019	2 methods · local
12	Fusion Markets	4.8	0	500NG	120	3.64	ECN/raw + standard	2017	6 methods
13	FXGT	6	5	5000 groupNG	72	3.64	ECN/raw + standard	2019	5 methods · local
14	LiteFinance	—	50	500NG	24	3.63	ECN/raw + standard	2005	4 methods · local
15	Moneta Markets	7	50	1000NG	24	3.63	ECN/raw + standard	2019	5 methods
16	XChief	5.5	10	1000NG	120	3.55	ECN/raw + standard	2014	6 methods
17	Amana Capital	7	50	100NG	24	3.48	ECN/raw + standard	2010	2 methods
18	Trade Nation	6	0	200NG	120	3.41	Standard	2014	3 methods · local
19	CMTrading	8	100	200NG	72	3.35	ECN/raw + standard	2012	6 methods · local
20	InstaForex	—	1	1000NG	7	3.28	ECN/raw + standard	2007	4 methods · local
21	IronFX	18	100	1000NG	240	3.25	ECN/raw + standard	2008	5 methods
22	Weltrade	3.1	1	2000NG	120	3.11	ECN/raw + standard	2006	4 methods · local
23	T4Trade	18	50	1000NG	72	3.04	Standard	2021	5 methods
24	Trove	—	10	—stated, not verified	24	—	—	2018	2 methods · local

Ten are shown; the button opens the rest.

"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

Trade Nation publishes a retail leverage of 1:200 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

The ten above illustrate the term. Brokers with the lowest minimum deposit in Nigeria lists every broker that qualifies, with the figure each one publishes.

Identical for every row, so it is stated once: Who onboards Local · SEC Nigeria · Swap-free fee none, no limit · NGN account Yes.

1. Capital.com — highest score of the three · offshore (bahamas scb); not registered w · withdrawal in 24 h (score 3.92)

Round turn: 6 USD
Withdrawal: 24 hours
NGN account: No NGN account; USD-denominated, so naira deposits incur conversion.
Leverage: 200NG
Accepts residents: through an offshore entity
Onboarding entity: Nigerian clients are served under the offshore international entity regulated by the Securities Commission of The Bahamas (SCB), not a local entity.
Founded: 2016
Register: https://capital.com/countries_list_uab · 09.07.2026
Group leverage: uncleargroup
Instruments: CFD-only broker; 4,500-6,000+ CFDs across shares, indices, commodities, forex, crypto and ETFs (285+ crypto CFDs).
Platforms: MT5cTraderWebTradingView
Funding: Cards, bank transfer and e-wallets; no verified NGN-specific local rail at review.
Not served: United States, Canada, Belgium, Japan, Singapore, New Zealand, India

Reviews25%80
Round-turn cost20%95
Safety0
Payouts15%
Track record10%50
Platforms

Why it ranks here

Round turn 6 USD against the slice median 6.5 USD. strongest axis round-turn cost 95 of 100. total score 3.92.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of Capital.com

2. ThinkMarkets — offshore (seychelles fsa); no local sec · withdrawal in 24 h (score 3.84)

Round turn: 7 USD
Withdrawal: 24 hours
NGN account: USD, EUR, GBP, AUD, CHF; no NGN base account, so naira deposits incur conversion.
Leverage: 500NG
Licence: SEC Nigeria SD060
Accepts residents: through an offshore entity
Onboarding entity: TF Global Markets Int Ltd
Founded: 2010
Register: https://support.thinkmarkets.com · 09.07.2026
Group leverage: unclear
Instruments: 40+ forex pairs, 17 index CFDs, metals/energies, 1,500+ share CFDs, 20+ crypto CFDs.
Platforms: MT5MT4Web
Funding: Bank/wire, Visa/Mastercard, Skrill, Neteller; local NGN rails not verified at review.
Not served: United States

Why it ranks here

Round turn 7 USD against the slice median 6.5 USD. strongest axis round-turn cost 90 of 100. total score 3.84.

Watch for

Min deposit 200 USD, double the Nigeria median of 50; withdrawal time not published.

Full review of ThinkMarkets

3. Errante — offshore only; not registered with niger · withdrawal in 24 h (score 3.81)

Why it ranks here

Round turn 6 USD against the slice median 6.5 USD. strongest axis round-turn cost 95 of 100. total score 3.81.

Watch for

Onboards Nigerian residents through an offshore entity: no SEC Nigeria licence, no SEC Nigeria complaints route, no NGN account.

Full review of Errante

What the data shows(24 of 81 distributions · 75 brokers)

Swap-free availability (24 of 81 brokers)

Offered30Not offered14

Admin fee after the free period (24 of 81 swap-free)

Never16After 3–30 days9not published5

Who onboards Nigerian residents (24 of 81 brokers)

Local SEC Nigeria entity20Offshore entity24

NGN account (24 of 81 brokers)

Yes16No23not published5

Round turn, one lot, USD (57 of 81 · median 6.5 USD)

9<5

415-10

310-15

315-20

120+

Full list(24 of 81)

1Exinity4.02
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
4
Min deposit, USD
30
Leverage
2000NG
NGN
Yes
2Capital.com3.92
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
20
Leverage
200NG
NGN
Yes
3ThinkMarkets3.84
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
50
Leverage
500NG
NGN
Yes
4Errante3.81
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50
Leverage
1000NG
NGN
Yes
5FXChoice3.8
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100
Leverage
200NG
NGN
Yes
6Mitrade3.79
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
4
Min deposit, USD
20
Leverage
200NG
NGN
Yes
7Alpari3.76
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
30
Leverage
3000NG
NGN
Yes
8Vantage3.7
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50
Leverage
500NG
NGN
Yes
9JustMarkets3.67
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
10
Leverage
3000NG
NGN
Yes
10FreshForex3.66
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
10
Leverage
2000NG
NGN
Yes
11Bamboo3.66
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Min deposit, USD
1
NGN
Yes
12Fusion Markets3.64
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
4.8
Min deposit, USD
0
Leverage
500NG
NGN
Yes
13FXGT3.64
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
5
Leverage
5000 groupNG
NGN
Yes
14LiteFinance3.63
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Min deposit, USD
50
Leverage
500NG
NGN
Yes
15Moneta Markets3.63
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
50
Leverage
1000NG
NGN
Yes
16XChief3.55
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
5.5
Min deposit, USD
10
Leverage
1000NG
NGN
Yes
17Amana Capital3.48
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
50
Leverage
100NG
NGN
Yes
18Trade Nation3.41
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
0
Leverage
200NG
NGN
Yes
19CMTrading3.35
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
100
Leverage
200NG
NGN
Yes
20InstaForex3.28
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Min deposit, USD
1
Leverage
1000NG
NGN
Yes
21IronFX3.25
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
18
Min deposit, USD
100
Leverage
1000NG
NGN
Yes
22Weltrade3.11
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
3.1
Min deposit, USD
1
Leverage
2000NG
NGN
Yes
23T4Trade3.04
Onboards
Local · SEC Nigeria
Swap-free
none, no limit
Round turn, USD
18
Min deposit, USD
50
Leverage
1000NG
NGN
Yes

How to read the ten below

Start with the figure this page ranks on.
Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.
Check which company would onboard you.
The same brand can take a resident of Nigeria through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.
Read the cost beside the deposit.
The median round turn across this country is 6.5 USD and the median minimum deposit 30.0 USD; a low deposit beside a wide spread takes the difference back on every trade.

Neighbouring slices(6 rankings · 5 explainers)

Same country

Explained

FAQ

How many brokers qualify for this ranking in Nigeria?: 24 of 81 brokers measured for this country qualify.
Which broker leads it, and on what basis?: Capital.com leads it with a score of 3.92. The order is computed score, highest first; unscored brokers follow.
What does a trade typically cost here?: The median round turn - spread plus commission for one standard lot, in and out - is 6.5 USD across the brokers that publish both parts.
Why do some rows show a dash instead of a figure?: Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.
Why are only ten brokers shown here?: This page explains the term; the ten illustrate it. The full ranking lists 24 of 81 and is one click away.

How this slice is scored

Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

Verified · What changed · Sources(24 of 81 broker records)

Verified01.10.2026

data re-captured 28.09.2026

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.