FxPro's website
FP Markets in Nigeria — review, licence and costs
Cost calculator (median of 57 priced of 81)
Score (6 of 6 axes scored)
ranked against full-basis brokers
Who actually onboards you
- Entity that onboards Nigeria residents
- FP Markets LLC
- Local standing
- Offshore/unregulated locally in Nigeria; no local investor-compensation scheme.
- Licence as the register states it
- No SEC Nigeria licence; served under the SVG registration.
- Leverage for this entity
- Up to 1:500 under the offshore entity; no local Nigerian cap applied.
- The firm behind it
- Founded 2005, HQ Sydney, Australia; multi-regulated global forex/CFD broker.
- What we hold against it
- Offshore entity, no SEC Nigeria oversight; group offshore arm flagged on a Fintelegram 'orange' list.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore/unregulated locally in Nigeria; no local investor-compensation scheme.
- Regulator warning on filenone found
— 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 57 of 81)
Medians run over the 57 of 81 brokers that publish a price for Nigeria, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Standard (commission-free), Raw (0.0 pip + commission) on MT4/MT5/cTrader/TradingView, min deposit USD 100. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Taxes for a Nigerian resident(1 rule)
- Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).https://fpmarkets.com/regulation
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (3 methods · 0 local rails)
Cards, bank wire and e-wallets;
- Cards
- Bank wire
- E-wallets
- Account currency
- USD/EUR/GBP/AUD and others; no NGN-denominated account.
- Fee declared
- 3 of 3 methods
- Withdrawal back to
- the funding method
Where it does not serve(7 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(5 platforms)
- MT4
- MT5
- cTrader
- TradingView
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 1 |
| MT5 | — | 1 |
| cTrader | — | 1 |
| TradingView | — | 1 |
| All instruments | 10000+ | — |
147 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 141 more.
Identical for every row: Leverage 500 NG.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.8 | 10,091 |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(5 for and 5 against, each tied to a figure on this page)
- Round turn 6 USD on the raw + commission basis, under the Nigeria median 6.5
- Withdrawal in 24 h, one of 71 of 81 brokers here that publish a time
- Swap-free account available
- Track record 100 of 100, its strongest of 6 scored axes
- 4 platforms: MT4, MT5, cTrader, TradingView
- No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Min deposit 100 USD, over the Nigeria median 20
- The published 1:500 comes from the group's offshore entity, not from the Nigeria one
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in Nigeria(6 of 81 scored in Nigeria)
- Round turn, USD
- 7NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #31
- Round turn, USD
- 7NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #15
- Round turn, USD
- 6NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 500NG
- Rank in this country
- #37
- Round turn, USD
- 5NG
- Min deposit, USD
- 100 groupNG
- Leverage
- 3000NG
- Rank in this country
- #6
- Round turn, USD
- 7NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 200NG
- Rank in this country
- #13
- Round turn, USD
- 5NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 2000NG
- Rank in this country
- #38
Methodology(6 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
| Axis | Weight | What is measured | FP Markets |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 90 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 95 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 70 |
Where FP Markets sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 6 USD · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 100 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · this broker 1:500 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does FP Markets accept residents of Nigeria?
- No. Offshore/unregulated locally in Nigeria; no local investor-compensation scheme. Onboarding entity: FP Markets LLC
- Is FP Markets licensed to serve clients in Nigeria?
- No SEC Nigeria licence; served under the SVG registration. Checked on 09.07.2026.
- How much does one round turn cost at FP Markets?
- About 6.0 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
- What leverage does FP Markets offer to retail clients in Nigeria?
- Up to 1:500. Up to 1:500 under the offshore entity; no local Nigerian cap applied.
- Which trading platforms does FP Markets support?
- MT4, MT5, cTrader, TradingView. Instruments: 10,000+ CFDs: 60+ FX pairs, indices, commodities, shares, ETFs, bonds and crypto CFDs.
- How can I withdraw money from FP Markets in Nigeria?
- Cards, bank wire and e-wallets; local NGN bank transfer availability not verified at review.
- What account types does FP Markets offer?
- Standard (commission-free) and Raw (0.0 pip + commission) on MT4/MT5/cTrader/TradingView; min deposit USD 100.
- Does FP Markets offer a swap-free (Islamic) account?
- Yes. FP Markets offers a swap-free (Islamic) account to Nigeria residents.