Best Crypto Trading App Nigeria

1. XM Trading – Overall Best Crypto Trading App With Wide Range of Crypto Pairs
2. FXTM – Best for Educational Resources and Flexible Leverage
3. AvaTrade – Best Broker with Zero Commission
4. Exness – Fast Withdrawals and High Leverage Broker
5. HF Markets – Best Broker for Versatile Trading Options
6. Octa – Best App With Low Spreads and 24/7 Support

Now we look deeper into these crypto trading apps for more details to help you choose the best one.

#1 XM – Overall Best Crypto Trading App With Wide Range of Crypto Pairs

Visit XM

Crypto Pairs Available:

58

Max. Leverage:

1:500

Minimum Deposit:

$5 (₦8,000)

XM Trading (XM Group) was established in 2009 and the broker is regulated by CySEC (Cyprus), ASIC (Australia), and the FSCA (South Africa). Traders based in Nigeria are registered under their regulation by FSC, Belize, under the name XM Global Limited.

The XM Trading App is available on both iOS and Android. The app allows you to customise most of it features and offers advanced order types for experienced traders on the go. With over 5 million downloads, the XM App is rated 4.2 stars on Google Play Store and 4.5 stars on Apple App Store.

Number of CFDs cryptocurrencies: There are 58 crypto CFD pairs available on XM. This includes both established and some emerging cryptocurrencies, you can trade BTC, ETH, BCH, RXP, BTG, DOGE, CRV, and others. All the crypto are paired to fiat (USD and GBP) and some are paired to BTC.

Leverage for CFDs Crypto: XM offers various leverage range for different pairs, with a maximum of 1:500 (0.2% margin) which applies to BTC, ETH and BTG paired to the USD. The minimum leverage is 1:50 (2% margin).

Security: For the safety of clients funds, XM uses segregated accounts for client funds, different from their operations account. The broker also uses SSL encryption for data protection, and carries out regular security audits which is done by independent firms.

Fees & Spreads: Average spreads on CFDs crypto start from 0.010 (of the quote currency), with an average of 1.62 to 7, and can be upto 210, with the Micro and Standard Accounts. The spreads are slightly lower on the ultra low accounts.

XM does not charge commission fees on trades, but swap fees apply if you keep a trade position open overnight.

The broker offers free deposits/withdrawal but charges $5 dormant account fees after 90 days of inactivity.

Minimum Deposit/Withdrawal: The minimum deposit for a Standard Account is $5, the minimum withdrawal amount is also $5, generally deposits are processed within one business day but this can vary depending on the payment method used.

Customer Support: XM provides 24/7 customer support through live chat, email, and phone in several languages. They also have educational resources on their website and market analysis tools.

If you would like to know more about the trading conditions on XM, we’ve created a detailed review based on our research of the broker, you can read by visiting XM Broker Review.

#2 FXTM – Best for Educational Resources and Flexible Leverage

Visit FXTM

Crypto Pairs Available:

17

Max. Leverage:

1:200

Minimum Deposit:

$200 (or ₦350,000)

FXTM (ForexTime) was established in 2011 and hold licenses from multiple regulatory authorities, including CySEC (Cyprus), FCA (UK), and the FSCA (South Africa). Nigerian traders are registered under Exinity Limited, an entity that is regulated by the FSC Mauritius.

The FXTM Trader App is available on iOS and Android devices and supports multiple languages. The app allows traders to customise several features as well as leverage. The app has educational resources accessible section. FXTM app has a 4.0-star rating on Google Play Store (over 1 million downloads) and 4.3-star on Apple App Store.

Number of CFDs cryptocurrencies: You can trade 17 crypto CFDs on FXTM. The cover major cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Ripple, as well as Cosmos, Chainlink and other. , the selection might be smaller compared to other brokers on this list.

Leverage for CFDs Crypto: The maximum leverage is 1:200 (0.5% margin), this applies to Bitcoin and other major crypto CFDS, leverage for others vary, with a minimum of 1:2 (50% margin).

Security: FXTM also practices segregated client accounts to protect clients’ fund, as well as SSL encryption for their platforms.

Fees & Spreads: Average spreads on Bitcoin CFDs is 270, some crypto CFDs have higher spreads while some have spreads as low as 7 pips.

FXTM charges no commissions on Advantage Plus Account, but Advantage Account holders pay commissions of $0.40 to $2 per lot side traded. Overnight financing fees apply to leveraged positions held past the market’s closing time.

FXTM charges dormant account fee of $5 per month after 6 months of inactivity on your account.

Minimum Deposit/Withdrawal: The minimum deposit on FXTM in Nigeria is ₦350,000 or $200, depending on your account currency and this applies to both Advantage and Advantage Plus Account. Deposits are generally credited instantly or within 24 hours.

Customer Support: FXTM offers 24/5 customer via live chat, email and a local phone number in Nigeria. They also have a chatbot that responds to basic queries during the weekend. They also have educational resources and market analysis tools.

Read our detailed FXTM Review for more information about the broker’s platform features.

#3 AvaTrade – Best Broker with Zero Commission

Visit AvaTrade

Crypto Pairs Available:

20

Max. Leverage:

1:20

Minimum Deposit:

$100 (₦160,000)

AvaTrade was founded in 2006, the CFD broker is regulated by several authorities, including ASIC (Australia), CBI (Ireland), FSCA (South Africa), and CySEC (Cyprus). Nigerian traders are registered under their regulation by BVI FSC (British Virgin Islands) as Ava Trade Markets Ltd.

The AvaTradeGO App is available on iOS and Android. The app offers a variety of order types, including market orders, limit orders, and stop-loss orders. Their app features charting and social trading. AvaTradeGo has a Play Store rating of 4.3 stars and App Store rating of 4.4 stars.

AvaTrade also has a dedicated mobile for social trading (copy trading), which is the AvaSocial app.

Number of CFDs cryptocurrencies: AvaTrade makes available 20 cryptocurrencies CFDs pairs for you to trade. They cryptos paired with fiat, such as BTCUSD, ETHUSD, BTCJPY, and others that are not paired to fiat, such as Ripplie, Litecoin, and Dash among others.

Leverage for CFDs Crypto: The maximum leverage for crypto CFDs on FXTM is 1:20 (5% margin). Some pairs have lower limits like 1:10 (10% margin) and 1:5 (20% margin).

Fees & Spreads: Spreads on AvaTrade for crypto CFDs start from 0.10% over market price and can be as high as 2%. More popular pairs like BTC and those paired to fiat have lower spreads.

AvaTrade offers commission free trading but charges swap fees for overnight positions.

If your account is dormant for more than 3 months, you pay account inactivity fee of $50 per month.

Minimum Deposit/Withdrawal: The minimum deposit on AvaTrade is $100 (₦160,000), the minimum withdrawal amount is also $100. Deposits via cards and e-wallets are credited instantly or can take up to 24 hours, while bank wire transfers can take up 10 business days.

Customer Support: AvaTrade offers 24/5 customer support through live chat, email, and phone. They have educational resources on their website and some market analysis tools as well.

Check out the AvaTrade Review to learn more about the offerings available on the AvaTrade platform.

#4 Exness – Fast Withdrawals and High Leverage Broker

Visit Exness

Crypto Pairs Available:

10

Max. Leverage:

1:40

Minimum Deposit:

$10 (₦16,000)

Exness was founded in 2008. They are licensed by multiple regulatory authorities, such as CySEC (Cyprus), FCA (UK), and the FSC (Seychelles) under which Nigerian traders are registered.

Exness mobile app (Exness Trader) is available on Android and iOS. The Exness Trader App features fast execution, allowing traders to quickly place orders and manage trade positions. On Google play store it has up to 10M+ downloads with rating of 4.5 stars. The App Store rating is 4.6 stars.

Number of CFDs cryptocurrencies: Exness app features 10 crypto CFDs such as BTC, ETH, and LTC, all of which are paired to metals and fiat, such as XAU, USD, AUD, CNH, and ZAR.

Leverage for CFDs Crypto: Maximum leverage on Exness for crypto CFDs is 1:40 (0.25% margin), this applies to most BTC and ETH pairs while others have leverage of 1:20 (0.5% margin).

Fees & Spreads: Spreads on crypto CFDs can range from 1.1 pips on the Raw Spread Account to 556 pips on the Standard Account with averages of 91 pips.

Commissions apply on the Raw Spread Account and are charged per traded lot ($0.25 to $3.5). Other account types are commission free but have higher spreads. Overnight financing fees are charge on leveraged positions held open overnight.

The broker offers free deposits and withdrawals. No inactive account fees are charge.

Minimum Deposit/Withdrawal: The minimum deposit and withdrawal on for a Standard Account is $10, although pro accounts may require a higher minimum deposit. Typically, deposits take from 30 minutes to be credited and can be up to 3-5 days for some methods.

Customer Support: Exness offers 24/7 customer support to clients via live chat and emails. They also have educational resources on their website and market analysis tools.

To see all the features of Exness trading platform and other product offerings, read the Exness Review.

Factors To Look Out For In The Best Crypto Trading Apps In Nigeria

Regulation and Safety
Before signing up with a broker, ensure your chosen broker is regulated by a reputable financial authority, they should have at least a Tier-1 regulation such as the FCA (UK) or ASIC (Australia) or Tier-2 regulation such as FSCA (South Africa) or CySEC (Cyprus). This guarantees a level of security for your funds and adherence to fair trading practices.

Note however that CFDs trading is not regulated in Nigeria, so trading with these brokers is at your own risk and the foreign regulations may not cover you in terms of a default from the broker, if you seek a redress.

Security
A good CFDs trading app should be secure. You want to consider platforms that protect your funds and trading platforms.

Two factor authentication is one of the methods brokers and exchanges protect clients trading platforms. Also ensure the the site has SSL encryption before you sign up on their platform.

Note: Websites with the padlock icon next to the address bar are the ones with an active SSL encryption

Fees
You should consider CFDs brokers who offer fair and competitive fees.

Yes, all brokers charge fees because that’s how they make money, however those who charge high fees can eat into your profit.

Look for relative lower fees across spreads (the difference between the buy and sell price of a CFD), commissions (charges for executing trades), and swap fees (applicable to leveraged positions held overnight).

App Availability
Good cryptocurrency CFDs trading app should be easily available. It should be available for all kinds of mobile devices (iOS and Android), this way even if you change your device, you can still log in to your trading account.

App Functionalities
Check out the user interface and functionalities offered by the broker’s trading app. Usability, charting tools, educational resources are key features you should look out for.

Cryptocurrency Selection
Choose a broker offering a diverse selection of cryptocurrencies CFDs. You should check out brokers that have major options like Bitcoin and Ethereum, as well as smaller, potentially high-growth alternatives. You should check a broker’s site to be sure they have the crypto CFDs you will like to trade before you create an account.

Customer service
Irrespective of how easy to use a trading app may be, you may still run into trouble from time to time. As such, you may want to consider CFD brokers whose customer service is easy to access and readily available.

Leverage Availability
Although leverage can amplify gains, it also magnifies losses. You should choose a CFDs broker that offers adjustable leverage, allowing you to manage trading risks effectively.

Minimum Deposit
Choose a Crypto CFDs broker with a minimum deposit that aligns with your budget. If you are new to CFDs trading, you should consider starting with a small amount. It is best to avoid trading leveraged products, unless you understand how they work and have experience.

What is an example of a CFD in crypto?

Crypto CFDs (Contracts for Difference) are financial instruments which allow you to speculate/bet on the price movement of a cryptocurrency without actually buying or owning the cryptocurrency.

For example, if you believe that the price of Bitcoin (BTC) will rise, you can buy a BTC CFD. What this means is that you are betting on Bitcoin’s price increase. If the price rises, you will get profits based on the difference between the price when you bought the CFD and the price when you sell it. If the price decreases instead, you would have made a loss.

Let’s say you believe the price of Bitcoin (BTC) will rise from its current price of $30,000 to $35,000. Instead of buying a whole Bitcoin, you could buy a BTC CFD contract with a leverage of 1:10.

Leverage: With 1:10 leverage, you only need to deposit $3,000 to control a position worth $30,000.

Profit: If the price rises to $35,000, your profit would be $5,000 (excluding fees). With leverage, your initial investment of $3,000 would yield a return of 166%.

However, if the price falls to $25,000, you would lose $5,000. With leverage, your initial investment of $3,000 would result in a loss of 166%.

FAQs on the Best Crypto CFDs Trading App