FxPro's websiteSwap-free (Islamic) accounts: what is actually waived
A swap is the overnight financing charge on a leveraged position. A swap-free, or Islamic, account waives it, which is what makes the account usable under rules that forbid interest.
What is waived differs between brokers, and the difference matters: some waive the swap and charge an administration fee after a few nights instead, some limit swap-free status to certain instruments, and some grant it on request rather than by default. The broker pages here record the condition as the broker states it.
The ten below offer a swap-free account to residents of Nigeria.
Swap-free accounts offered (81 of 81)
52Yes
4On request
19No
6Not stated
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 (51 of 81 counts · 75 brokers onboarding Nigerian residents)
51of 81
qualify for this ranking
63% of 81
43of 51
scored on all six axes
84% of 51
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)
Swap-free (Islamic) accounts: what is actually waived (51 of 81)
By slice score, formula v1.0. · 51 of 75 brokers in this ranking · all 51
| # | Broker | Round turn, USDNG | Min deposit, USDNG | Leverage | Withdrawal, hNG | Score | Execution | Founded | Funding |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 6 | 100 group | 500NG | 24 | 4.12 | ECN/raw + standard | 2005 | 3 methods | |
| 2 | 9 | 25 group | 1000 groupNG | 3 | 4.07 | ECN/raw + standard | 2011 | 1 methods · local | |
| 3 | 7 | 100 group | 200NG | 3 | 4.07 | ECN/raw + standard | 2006 | 4 methods · local | |
| 4 | 4.2 | 0 group | 200NG | 24 | 4.03 | ECN/raw + standard | 2001 | 4 methods | |
| 5 | 4 | 30 | 2000NG | 24 | 4.02 | ECN/raw + standard | 1998 | 2 methods · local | |
| 6 | 5 | 10 group | 2000NG | 24 | 4 | ECN/raw + standard | 2012 | 3 methods | |
| 7 | 5 | 100 group | 3000NG | 24 | 3.98 | ECN/raw + standard | 2007 | 7 methods · local | |
| 8 | 3 | 1 group | 500NG | 24 | 3.97 | ECN/raw + standard | 2005 | 7 methods | |
| 9 | 3 | 50 group | 3000NG | 24 | 3.94 | ECN/raw + standard | 2009 | 4 methods | |
| 10 | 6 | 20 | 200NG | 24 | 3.92 | Standard | 2016 | 3 methods | |
| 11 | 6 | 0 group | 2000NG | 24 | 3.92 | ECN/raw + standard | 2010 | 8 methods · local | |
| 12 | 6 | 50 group | 500NG | 48 | 3.91 | ECN/raw + standard | 2005 | 4 methods | |
| 13 | 7 | — | 200NG | 24 | 3.86 | ECN/raw + standard | 2010 | 5 methods | |
| 14 | 7 | 50 | 500NG | 24 | 3.84 | ECN/raw + standard | 2010 | 4 methods | |
| 15 | 7 | 100 group | 500NG | 24 | 3.84 | ECN/raw + standard | 2016 | 7 methods | |
| 16 | 7 | 10 group | 1000NG | 24 | 3.84 | ECN/raw + standard | 2008 | 3 methods | |
| 17 | 6 | 50 | 1000NG | 24 | 3.81 | ECN/raw + standard | 2020 | 5 methods | |
| 18 | 9 | 100 group | 400 groupNG | 24 | 3.81 | Standard | 2006 | 3 methods · local | |
| 19 | 6 | 50 group | 1000NG | 48 | 3.8 | ECN/raw + standard | 1998 | 6 methods | |
| 20 | 7 | 100 | 200NG | 24 | 3.8 | ECN/raw + standard | 2010 | 4 methods | |
| 21 | 7 | 100 group | 1000NG | 24 | 3.77 | ECN/raw + standard | 2013 | 6 methods | |
| 22 | 3 | 1 group | —stated, not verified | 0.5 | 3.77 | ECN/raw + standard | 2023 | 4 methods · local | |
| 23 | 7 | 0 group | 1000NG | 24 | 3.73 | ECN/raw + standard | 2014 | 4 methods · local | |
| 24 | 6 | 50 | 500NG | 72 | 3.7 | ECN/raw + standard | 2020 | 6 methods · local | |
| 25 | 7 | 5 group | 1000NG | 24 | 3.67 | ECN/raw + standard | 2009 | 5 methods | |
| 26 | 6 | 10 | 3000NG | 48 | 3.67 | ECN/raw + standard | 2012 | 3 methods · local | |
| 27 | 7 | 0 group | 500NG | 48 | 3.66 | ECN/raw + standard | 2007 | 5 methods · local | |
| 28 | 6 | 10 | 2000NG | 0.17 | 3.66 | ECN/raw + standard | 2004 | 5 methods · local | |
| 29 | 4.8 | 0 | 500NG | 120 | 3.64 | ECN/raw + standard | 2017 | 6 methods | |
| 30 | 6 | 5 | 5000 groupNG | 72 | 3.64 | ECN/raw + standard | 2019 | 5 methods · local | |
| 31 | — | 50 | 500NG | 24 | 3.63 | ECN/raw + standard | 2005 | 4 methods · local | |
| 32 | 7 | 50 | 1000NG | 24 | 3.63 | ECN/raw + standard | 2019 | 5 methods | |
| 33 | 13 | 5 group | 3000NG | 24 | 3.63 | Standard | 2009 | 3 methods · local | |
| 34 | — | 300 group | 500NG | 1 | 3.61 | — | 2015 | 4 methods · local | |
| 35 | 7.5 | 50 group | 400NG | 72 | 3.6 | ECN/raw + standard | 1999 | 5 methods · local | |
| 36 | 5.5 | 10 | 1000NG | 120 | 3.55 | ECN/raw + standard | 2014 | 6 methods | |
| 37 | 6 | 100 group | 500NG | 72 | 3.51 | ECN/raw + standard | 2015 | 3 methods | |
| 38 | 5 | 10 group | 2000NG | 24 | 3.49 | ECN/raw + standard | 2009 | 4 methods | |
| 39 | 7 | 50 | 100NG | 24 | 3.48 | ECN/raw + standard | 2010 | 2 methods | |
| 40 | 6 | 0 | 200NG | 120 | 3.41 | Standard | 2014 | 3 methods · local | |
| 41 | 9 | 10 group | 1000NG | 48 | 3.4 | ECN/raw + standard | — | 4 methods | |
| 42 | 8 | 100 | 200NG | 72 | 3.35 | ECN/raw + standard | 2012 | 6 methods · local | |
| 43 | 3.5 | 10 group | 2000NG | 24 | 3.33 | ECN/raw + standard | 2011 | 3 methods · local | |
| 44 | 9 | 10 group | 500NG | 24 | 3.29 | ECN/raw + standard | 2006 | 3 methods | |
| 45 | — | 1 | 1000NG | 7 | 3.28 | ECN/raw + standard | 2007 | 4 methods · local | |
| 46 | 18 | 100 | 1000NG | 240 | 3.25 | ECN/raw + standard | 2008 | 5 methods | |
| 47 | 15 | 250 group | 1000NG | 24 | 3.18 | Standard | 2015 | 8 methods · local | |
| 48 | 3.1 | 1 | 2000NG | 120 | 3.11 | ECN/raw + standard | 2006 | 4 methods · local | |
| 49 | 20 | 15 group | 500NG | 48 | 3.06 | ECN/raw + standard | 2015 | 6 methods · local | |
| 50 | 18 | 50 | 1000NG | 72 | 3.04 | Standard | 2021 | 5 methods | |
| 51 | — | 1 group | 400NG | 72 | — | ECN/raw + standard | 2006 | 5 methods |
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.
Pepperstone 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. Swap-free (Islamic) brokers 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. FP Markets — highest score of the three · cheapest priced of the three · offshore/unregulated locally in nigeria; (score 4.12)
- Round turn
- 6 USD
- Withdrawal
- 1 business day
- NGN account
- USD/EUR/GBP/AUD and others; no NGN-denominated account.
- Leverage
- 500NG
- Accepts residents
- through an offshore entity
- Onboarding entity
- FP Markets LLC
- Founded
- 2005
- Register
- https://fpmarkets.com/regulation · 09.07.2026
- Group leverage
- offshoregroup
- Instruments
- 10,000+ CFDs: 60+ FX pairs, indices, commodities, shares, ETFs, bonds and crypto CFDs.
- Platforms
- Funding
- Not served
- Reviews25%90
- Round-turn cost20%95
- Safety0
- Payouts15%80
- Track record10%100
- Platforms70
Round turn 6 USD against the slice median 6.5 USD. strongest axis track record 100 of 100. total score 4.12.
Watch forPayouts axis 58 of 100; e-wallet times not published.
2. OctaFX — not licensed by cbn or nigerian sec; ret · withdrawal in 3 h (score 4.07)
- Round turn
- 9 USD
- Withdrawal
- 1-3 hours
- NGN account
- USD/EUR; no NGN base account verified.
- Leverage
- 1000 groupNG
- Accepts residents
- through an offshore entity
- Onboarding entity
- Octa Markets Ltd
- Founded
- 2011
- Register
- https://octabroker.com · 09.07.2026
- Group leverage
- offshore
- Instruments
- FX, metals, indices, commodities, crypto & stock CFDs.
- Platforms
- Funding
- Not served
Round turn 9 USD against the slice median 6.5 USD. strongest axis payouts 98 of 100. total score 4.07.
Watch forMin deposit 200 USD, double the Nigeria median of 50; withdrawal time not published.
3. FxPro — unregulated locally; sec nigeria does no · withdrawal in 3 h (score 4.07)
Round turn 7 USD against the slice median 6.5 USD. strongest axis track record 100 of 100. total score 4.07.
Watch forOnboards Nigerian residents through an offshore entity: no SEC Nigeria licence, no SEC Nigeria complaints route, no NGN account.
What the data shows(51 of 81 distributions · 75 brokers)
Swap-free availability (51 of 81 brokers)
Offered30Not offered14
Admin fee after the free period (51 of 81 swap-free)
Never16After 3–30 days9not published5
Who onboards Nigerian residents (51 of 81 brokers)
Local SEC Nigeria entity20Offshore entity24
NGN account (51 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(51 of 81)
- 1FP Markets4.12
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 100 group
- Leverage
- 500NG
- NGN
- Yes
- 2OctaFX4.07
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 9
- Min deposit, USD
- 25 group
- Leverage
- 1000 groupNG
- NGN
- Yes
- 3FxPro4.07
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 100 group
- Leverage
- 200NG
- NGN
- Yes
- 4ActivTrades4.03
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 4.2
- Min deposit, USD
- 0 group
- Leverage
- 200NG
- NGN
- Yes
- 5Exinity4.02
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 4
- Min deposit, USD
- 30
- Leverage
- 2000NG
- NGN
- Yes
- 6BDSwiss4
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 5
- Min deposit, USD
- 10 group
- Leverage
- 2000NG
- NGN
- Yes
- 7AMarkets3.98
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 5
- Min deposit, USD
- 100 group
- Leverage
- 3000NG
- NGN
- Yes
- 8FXOpen3.97
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 3
- Min deposit, USD
- 1 group
- Leverage
- 500NG
- NGN
- Yes
- 9Traders Trust3.94
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 3
- Min deposit, USD
- 50 group
- Leverage
- 3000NG
- NGN
- Yes
- 10Capital.com3.92
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 20
- Leverage
- 200NG
- NGN
- Yes
- 11HFM3.92
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 0 group
- Leverage
- 2000NG
- NGN
- Yes
- 12MultiBank Group3.91
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 50 group
- Leverage
- 500NG
- NGN
- Yes
- 13Pepperstone3.86
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Leverage
- 200NG
- NGN
- Yes
- 14ThinkMarkets3.84
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 50
- Leverage
- 500NG
- NGN
- Yes
- 15Blueberry Markets3.84
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 100 group
- Leverage
- 500NG
- NGN
- Yes
- 16NordFX3.84
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 10 group
- Leverage
- 1000NG
- NGN
- Yes
- 17Errante3.81
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 50
- Leverage
- 1000NG
- NGN
- Yes
- 18AvaTrade3.81
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 9
- Min deposit, USD
- 100 group
- Leverage
- 400 groupNG
- NGN
- Yes
- 19FIBO Group3.8
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 50 group
- Leverage
- 1000NG
- NGN
- Yes
- 20FXChoice3.8
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 100
- Leverage
- 200NG
- NGN
- Yes
- 21TMGM3.77
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 100 group
- Leverage
- 1000NG
- NGN
- Yes
- 22Headway3.77
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 3
- Min deposit, USD
- 1 group
- NGN
- Yes
- 23Doo Prime3.73
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 0 group
- Leverage
- 1000NG
- NGN
- Yes
- 24Vantage3.7
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 50
- Leverage
- 500NG
- NGN
- Yes
- 25XM3.67
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 5 group
- Leverage
- 1000NG
- NGN
- Yes
- 26JustMarkets3.67
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 10
- Leverage
- 3000NG
- NGN
- Yes
- 27Axi3.66
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 0 group
- Leverage
- 500NG
- NGN
- Yes
- 28FreshForex3.66
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 10
- Leverage
- 2000NG
- NGN
- Yes
- 29Fusion Markets3.64
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 4.8
- Min deposit, USD
- 0
- Leverage
- 500NG
- NGN
- Yes
- 30FXGT3.64
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 5
- Leverage
- 5000 groupNG
- NGN
- Yes
- 31LiteFinance3.63
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Min deposit, USD
- 50
- Leverage
- 500NG
- NGN
- Yes
- 32Moneta Markets3.63
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 50
- Leverage
- 1000NG
- NGN
- Yes
- 33FBS3.63
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 13
- Min deposit, USD
- 5 group
- Leverage
- 3000NG
- NGN
- Yes
- 34Milton Prime3.61
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Min deposit, USD
- 300 group
- Leverage
- 500NG
- NGN
- Yes
- 35FXCM3.6
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7.5
- Min deposit, USD
- 50 group
- Leverage
- 400NG
- NGN
- Yes
- 36XChief3.55
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 5.5
- Min deposit, USD
- 10
- Leverage
- 1000NG
- NGN
- Yes
- 37VT Markets3.51
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 100 group
- Leverage
- 500NG
- NGN
- Yes
- 38RoboForex3.49
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 5
- Min deposit, USD
- 10 group
- Leverage
- 2000NG
- NGN
- Yes
- 39Amana Capital3.48
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 7
- Min deposit, USD
- 50
- Leverage
- 100NG
- NGN
- Yes
- 40Trade Nation3.41
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 6
- Min deposit, USD
- 0
- Leverage
- 200NG
- NGN
- Yes
- 41Scope Markets3.4
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 9
- Min deposit, USD
- 10 group
- Leverage
- 1000NG
- NGN
- Yes
- 42CMTrading3.35
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 8
- Min deposit, USD
- 100
- Leverage
- 200NG
- NGN
- Yes
- 43FXTM3.33
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 3.5
- Min deposit, USD
- 10 group
- Leverage
- 2000NG
- NGN
- Yes
- 44Grand Capital3.29
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 9
- Min deposit, USD
- 10 group
- Leverage
- 500NG
- NGN
- Yes
- 45InstaForex3.28
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Min deposit, USD
- 1
- Leverage
- 1000NG
- NGN
- Yes
- 46IronFX3.25
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 18
- Min deposit, USD
- 100
- Leverage
- 1000NG
- NGN
- Yes
- 47NAGA3.18
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 15
- Min deposit, USD
- 250 group
- Leverage
- 1000NG
- NGN
- Yes
- 48Weltrade3.11
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 3.1
- Min deposit, USD
- 1
- Leverage
- 2000NG
- NGN
- Yes
- 49ForexMart3.06
- Onboards
- Local · SEC Nigeria
- Swap-free
- none, no limit
- Round turn, USD
- 20
- Min deposit, USD
- 15 group
- Leverage
- 500NG
- NGN
- Yes
- 50T4Trade3.04
- 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
FAQ
- How many brokers qualify for this ranking in Nigeria?
- 51 of 81 brokers measured for this country qualify.
- Which broker leads it, and on what basis?
- FP Markets leads it with a score of 4.12. 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 51 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(51 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.