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PiggyVest in Nigeria — review, licence and costs
Score (4 of 6 axes scored)
shown, not ranked: only 55% of the weight has data, need 55%
Who actually onboards you
- Entity that onboards Nigeria residents
- PiggyTech Global Limited (operator of PiggyVest); savings funds warehoused with PV Capital Limited and AIICO Capital
- Local standing
- SEC-regulated domestic (fund manager) plus CBN oversight
- Licence as the register states it
- SEC Nigeria Fund/Portfolio Manager license (via PV Capital Limited); also CBN mobile-money and microfinance-bank licenses. Not an NGX dealing member.
- Leverage for this entity
- no retail forex/leverage; savings and fixed-income only, no equity dealing
- The firm behind it
- Founded 2016 (as Piggybank.ng, rebranded PiggyVest 2019); Lagos-based; one of Nigeria's largest savings/investment fintechs, reported crossing 5 million users and over NGN 2 trillion cumulative payouts by 2024-2025
- What we hold against it
- Generally strong consumer reputation; no SEC enforcement action verified at review
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.
no retail forex/leverage; savings and fixed-income only, no equity dealing
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youSEC-regulated domestic (fund manager) plus CBN oversight
- 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.
Accounts
Account types the broker names for this country: savings, investment account (Piggybank auto-save, Safelock, Target Savings, Flex Naira/Dollar, Investify). 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(2 methods)
| Method | Deposit, h | Fee, USD | Min, USD |
|---|---|---|---|
| Bank transfer | 24 | 0 | 50 |
| Debit cards | 24 | 0 | 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://sec.gov.ng
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (2 methods · 0 local rails)
bank transfer, debit cards, USSD
- Bank transfer
- Debit cards
- Account currency
- NGN
- Fee declared
- 2 of 2 methods
- Withdrawal back to
- the funding method
Where it does not serve(1 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- PiggyVest mobile app (iOS/Android)
- web
| Class | Leverage |
|---|---|
| PiggyVest mobile app (iOS/Android) | —NG |
| web | —NG |
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 3.4 | 23 |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(3 for and 3 against, each tied to a figure on this page)
- Authorised by the Nigeria regulator in its own register
- Withdrawal in 3 h, one of 71 of 81 brokers here that publish a time
- Safety 100 of 100, its strongest of 4 scored axes
- Round-turn cost not priced: the pair of spread and commission is not published
- Platforms 15 of 100, its weakest of 4 scored axes
- Not scored on reviews, round-turn cost: the broker publishes no figure we could read
Alternatives in Nigeria(6 of 81 scored in Nigeria)
- Round turn, USD
- 10NG
- Min deposit, USD
- 10 groupNG
- Rank in this country
- #48
- Round turn, USD
- 4NG
- Min deposit, USD
- 20NG
- Leverage
- 200NG
- Rank in this country
- #20
- Round turn, USD
- 9NG
- Min deposit, USD
- 25 groupNG
- Leverage
- 1000 group
- Rank in this country
- #2
- Round turn, USD
- 5NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 2000NG
- Rank in this country
- #5
- Round turn, USD
- 6NG
- Min deposit, USD
- 100NG
- Leverage
- 500NG
- Rank in this country
- #8
- Round turn, USD
- 6NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 500NG
- Rank in this country
- #17
"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.
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 | PiggyVest |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | — |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | — |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 100 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 98 |
| Track record | 10% | Years since the firm was founded, from its own filings | 50 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 15 |
Where PiggyVest sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does PiggyVest accept residents of Nigeria?
- Yes. SEC-regulated domestic (fund manager) plus CBN oversight Onboarding entity: PiggyTech Global Limited (operator of PiggyVest); savings funds warehoused with PV Capital Limited and AIICO Capital
- Is PiggyVest licensed to serve clients in Nigeria?
- SEC Nigeria Fund/Portfolio Manager license (via PV Capital Limited); also CBN mobile-money and microfinance-bank licenses. Not an NGX dealing member. Checked on 11.07.2026.
- Which trading platforms does PiggyVest support?
- PiggyVest mobile app (iOS/Android), web. Instruments: Naira and USD savings; fixed-income backed products (government bonds, treasury bills, commercial papers); curated investment deals
- How can I withdraw money from PiggyVest in Nigeria?
- bank transfer, debit cards, USSD
- What account types does PiggyVest offer?
- savings and investment account (Piggybank auto-save, Safelock, Target Savings, Flex Naira/Dollar, Investify)
- Does PiggyVest offer a swap-free (Islamic) account?
- No. PiggyVest publishes no swap-free (Islamic) account for Nigeria.