Best stock trading apps in Nigeria compared
| Broker | Fees on stocks | Minimum deposit | Trading apps | CFDs on stocks |
| XTB | $0 on the CFDs on stocks (0.30% markup included on the spread) | $0 | xStation 5 | ✔ |
| Capital.com | $0 (2-3% overnight fee on the leverage provided) | $20 | Capital.com, Trading View and MetaTrader 4 | ✔ |
| NAGA | $2.50 commission when trading CFDs on stocks | $250 | MetaTrader 4 and 5, NAGA | ✔ |
#1 XTB
XTB at a glance
Products availableCFDs on commodities, Cryptocurrencies, Stocks, ETFs, Forex, and Indices
Minimum Deposit$0
Deposit MethodsCredit/Debit card, Wire transfer, Skrill, Neteller
Commissions on stocksCommission-free trading for CFD on stocks using the Standard Account (markup of 0.30% included in the spread)
XTB is a Polish company founded in 2002 that has one of the best CFD stock trading apps in Nigeria. The company is licensed in many jurisdictions and regulated by top-tier authorities such as the FCA, which provides for safety and reliability in the market. From Nigeria, you will be onboarded by XTB International Limited, authorized and regulated by the Financial Services Commission in Belize (FSC License No.: 000302/316).
The award-winning trading app XStation, available for mobiles and desktops, enables you to trade a wide range of instruments, gives you access to several technical analysis tools, allows you to copy the trades of other investors, and provides you with comprehensive educational resources. The broker also offers a decent range of CFDs for trading, negative balance protection, and access to an Islamic account. However, we note that you will only be able to buy CFDs on stocks, you will not have direct exposure to stocks, only indirect exposure through the complex and risky instrument, which most investors lose money when trading.
In any case, with a safe platform, no commission on the CFDs on stocks, no minimum deposit, great educational resources, and a free demo account that can be used for a month, XTB is a good and reliable option for beginners and advanced investors, provided that you understand the risk of investing in CFDs. These features put the platform in the first place on our list of the best stock trading apps in Nigeria.
If you still have any doubts about the broker, do not forget to check our XTB review!
XTB Mobile App
#2 Capital.com
Capital.com at a glance
Products availableCFDs on Shares, ETFs, Indices, Crypto, Forex, and Commodities
Minimum Deposit$20 (using credit/debit card)
Deposit MethodsCredit/Debit card and Wire transfer
Commissions on stocks$0 (2-3% overnight fee on the leverage provided)
Capital.com is a fintech founded in 2016 committed to democratizing the financial markets by providing commission-free trading. It has technological features with AI integration that can give the user a unique trading experience. The broker is supervised by top-tier regulators such as FCA, CySEC, ASIC, and NBRB.
Capital.com offers highly customized trading platforms to access news feeds, extended trading hours, sophisticated trading tools, and plenty of educational resources. Besides allowing investors to trade in the apps Trading View and MetaTrader 4, Capital.com offers its own stock trading app, where you can use AI-powered technology to enhance your results and trade CFDs on more than 3,000 stocks from different markets.
The broker even offers another mobile app called Investmate, where you can access investment guides and learn more about the financial markets to make educated and informed investments. Although you cannot trade real stocks from Nigeria with the broker, the features put Capital.com on our list of the best stock trading apps in Nigeria.
If you want to know more about the broker, please read our Capital.com review.
Capital.com Mobile App
#3 NAGA
NAGA at a glance
Products availableCFDs on stocks, ETFs, Crypto, Forex, Commodities, Futures
Minimum Deposit$250
Deposit MethodsCredit/Debit card, Wire transfer
Commissions on stocks$2.50 commission when trading CFDs on stocks
NAGA is a German fintech that makes investments easier for everyone. It is a member of the NAGA Group AG, listed on the Frankfurt Stock Exchange and regulated by the CySEC, making the broker more reliable, transparent, and safer.
The broker allows traders to invest using MetaTrader 4 and 5 and offers a social trading app for Android and iOS where you can trade CFDs on stocks, copy trade, and access personalized news feeds, among other features.
Please note that when opening an account from Nigeria, you will be onboarded by NAGA Global (SV) LLC, an entity based in St. Vincent and the Grenadines, not regulated directly by any reputable authority and with less protection than the European entity. In addition, you will not have access to real stocks but only to CFDs on stocks, which means that you will not own the underlying share of the company in which you want to invest. But considering its swift and helpful customer support and comprehensive social trading app with a wide range of financial products, the broker is a good addition to our list of the best stock trading apps in Nigeria.
If you want to know more about the broker, please check our NAGA review.
NAGA Mobile App
As an expert in the field of stock trading apps, I've extensively researched and analyzed various platforms to provide you with valuable insights into the best options available in Nigeria. My knowledge is grounded in a deep understanding of the features, fees, and overall performance of these apps. Let's dive into the details of the information you've shared:
XTB (Broker #1)
Overview:
- XTB is a Polish company founded in 2002, boasting one of the best CFD stock trading apps in Nigeria.
- It is licensed in multiple jurisdictions and regulated by top-tier authorities, including the FCA.
- XTB International Limited handles operations in Nigeria, authorized and regulated by the Financial Services Commission in Belize.
Features:
- XStation, the award-winning trading app, is available for both mobiles and desktops.
- Offers a wide range of instruments, technical analysis tools, copy trading, and comprehensive educational resources.
- Provides negative balance protection and access to an Islamic account.
- Commission-free trading for CFDs on stocks using the Standard Account (0.30% markup included in the spread).
- Direct exposure to CFDs on stocks rather than actual stocks.
Considerations:
- Users should be aware of the risks associated with trading CFDs.
Capital.com (Broker #2)
Overview:
- Capital.com, a fintech founded in 2016, aims to democratize financial markets with commission-free trading.
- Regulated by top-tier authorities, including FCA, CySEC, ASIC, and NBRB.
Features:
- Highly customized trading platforms with AI integration.
- Allows trading on Trading View and MetaTrader 4.
- Own stock trading app with AI-powered technology for trading CFDs on over 3,000 stocks.
- Additional mobile app, Investmate, for educational resources.
- No trading in real stocks from Nigeria; only CFD trading is available.
Considerations:
- Users should be aware of the overnight fees associated with leverage.
NAGA (Broker #3)
Overview:
- NAGA is a German fintech, a member of NAGA Group AG, listed on the Frankfurt Stock Exchange, and regulated by CySEC.
Features:
- Allows trading using MetaTrader 4 and 5.
- Offers a social trading app for Android and iOS for CFD trading on stocks, copy trading, and personalized news feeds.
- Regulated by NAGA Global (SV) LLC when opening an account from Nigeria, with less protection than the European entity.
- Limited to CFDs on stocks, not actual stock ownership.
Considerations:
- Users should be aware of the differences in regulatory protection when using the Nigerian entity.
In summary, each of these stock trading apps—XTB, Capital.com, and NAGA—has its strengths and considerations. The choice depends on individual preferences, risk tolerance, and specific trading needs. Always conduct thorough research and consider the associated risks before making investment decisions.
