Best Islamic Forex Brokers Nigeria 2026

Last reviewed:January 15, 2026

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By:James Anderson

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Fact-checked by:Emily Watson

Best Islamic Forex Brokers in Nigeria 2026

Muslim traders in Nigeria require accounts that separate them from specific haram elements of finance. Our selected brokers offer Swap-Free options in Nigeria, allowing you to hold positions for days without incurring rollover interest. These accounts are fully integrated with Naira funding methods, ensuring seamless access for traders from Kano to Lagos.

Is forex trading halal in Nigeria?

Yes, provided you use an Islamic (Swap-Free) account that does not involve interest (Riba). All brokers listed here offer this.

Islamic Features

All listed brokers offer Swap-Free options.

Broker
Exness		$0
HFM		$0
XM		$0
FXTM		$0
AvaTrade		$0
OctaFX		$0
FBS		$0

Detailed Broker Analysis

HFM

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Recommended

Best Islamic.

4.5/5App Score

HFM (HotForex) is ideal for Nigerian Muslim traders, offering 100% swap-free accounts combined with local bank transfer deposits.

Forex spread classLow

Minimum deposit₦3,000

Inactivity feeNo

Currency pairs53

Deposit methodsBank Transfer

Withdrawal fee$0

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Exness

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Recommended

Extended Free.

4.8/5App Score

Exness offers 'Extended Swap-free' status, meaning no overnight fees on major pairs, gold, and oil, perfect for long-term trading strategies.

Forex spread classLow

Minimum deposit₦5,000

Inactivity feeNo

Currency pairs107

Deposit methodsPaystack

Withdrawal fee$0

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XM

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Recommended

Micro Lots.

4.4/5App Score

XM makes Islamic trading accessible with low deposit requirements and a strict no-interest policy on their Islamic accounts.

Forex spread classLow

Minimum deposit$5

Inactivity fee$5/mo

Currency pairs57

Deposit methodsCard

Withdrawal fee$0

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Frequently Asked Questions

Yes, provided you use an Islamic (Swap-Free) account that does not involve interest (Riba). All brokers listed here offer this.

Yes, HFM and Exness allow you to hold accounts in Naira (NGN), which is convenient for local funding.

Generally no, but some brokers may charge admin fees if a trade is held open for a very long time (e.g., more than 7 days).

Why Trust BrokerAnalysis?

Our reviews are built using verified broker data, regulatory records, and hands-on testing. Rankings are updated regularly and are not influenced by paid placements.

Our Methodology Meet Our Team

Risk Warning: Forex and CFD trading involves significant risk of loss and may not be suitable for all investors. You could lose more than your initial investment. 68-80% of retail investor accounts lose money when trading CFDs with most providers. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.

Not Financial Advice:

Information on this website is for educational and comparison purposes only. This does not constitute financial, investment, or trading advice. How we rank brokers →

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BrokerAnalysis may earn commissions from partners listed. This does not influence our rankings or analysis, which are based on our independent methodology.

Regional Availability Notice

Broker availability depends on your country of residence. Some brokers may not accept clients from certain jurisdictions including the USA, Canada, Japan, and others. The comparison table on this page shows country acceptance status. Please verify availability with the broker directly before proceeding.

Independent Analysis

Rankings based on verified data and hands-on testing. See our methodology →

Data Verified

January 2026

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