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The Best MetaTrader 4 Brokers for Nigerians

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Online trading has become a mass phenomenon in Nigeria, which, every day, counts among its ranks new investors ready to try their hand at this environment. The high turnout of traders has led brokers to implement elaborate software available to the investor so that they can carry out actions for the purchase and sale of financial assets in a safe and feature-rich context Some have developed customized proprietary platforms, but Nigerian brokers have decided to opt for already proven winning solutions, such as the famous MetaTrader 4, of which the most salient aspects will be analyzed in the following paragraphs.

What exactly does the MT4 Broker mean?

The successful online trading platform called MetaTrader 4, abbreviated to MT4 for simplicity, was developed in 2005 by the Russian company MetaQuotes Software Corp. and represents the industry benchmark for private traders. Although it has many years on its back and a more recent version is available, called MetaTrader 5, MT4 remains the most popular and appreciated release by most investors and brokers. The success of MT4 derives from the winning combination of 3 elements: intrinsic characteristics rich in appeal, high customization, and ease of use.

MetaQuotes Software Corp has conceived a complex software, but with a user-friendly interface, dedicated to trading Forex and CFD instruments (contracts for difference), offering a wide range of charts and technical indicators that allow a 360 ° analysis and operation with financial markets. Among the most popular tools, there are the Expert Advisors, that is trading bots that allow you to open or close a position for a given asset automatically, without operating in person. Another element that places MT4 among the most eligible solutions in circulation is its wide usability on different hardware devices, with a cross-compatibility that also includes dated operating systems of PCs, smartphones, and tablets.

Why Use the MT4 Platform: Advantages and Limitations

MetaTrader 4 has redefined the concept of online trading, significantly simplifying trading operations in the financial markets and offering a whole series of winning utilities compared to more basic web platforms, all through secure and free downloadable software. The main limitation of MT4 derives from the need to download, install and initialize it, giving up the portability and immediacy of web-based platforms. Another element to consider is its seniority its interface could discourage younger and inexperienced traders.

The Best MetaTrader 4 Brokers that every Nigerians Trader should Embrace

The longevity and quality of MetaTrader 4 have allowed it to remain among the elite of the most appreciated software in the sector. In fact, many brokers, from the smallest to the most famous ones, do not give up on including MT4 as an accredited solution in their platform, being, together with its successor MT5, an attractive and advantageous suite. Popular brokers employing MT4 include Admiral Markets, ActivTrades, Avatrade, and Markets.com.

1. Admiral Markets

Admiral Markets is a broker based in Estonia born in 2010, which allows you to operate in the Forex and CFD market on stocks, cryptocurrencies, metals, and many other assets. Among its peculiar features, we find the add-on called MetaTrader Supreme Edition, which integrates MT4 with additional features, such as new Expert Advisors and indicators, aimed at increasing the user experience. There are no deposit and withdrawal fees, while the spreads make it competitive with most brokers. The only unconvincing element is the high commissions to be incurred in case of account inactivity, equal to 10 dollars. Regarding security and transparency, Admiral Markets can enjoy a high standard, as it is accredited and regulated by the supervisory companies FCA, CySEC, JSC, ASIC, and EFSA.

2. AvaTrade

With a total trading volume of more than $ 60 billion per month, the Irish broker AvaTrade, in its decades of experience, has managed to win the approval of over 20,000 clients. To date, it allows Nigerian traders to exchange Forex, commodities, stock indices, ETFs, stocks, and cryptocurrency, making it one of the most complete brokers in terms of offering assets. In addition to the guarantee deriving from the supervision of regulatory institutions such as ASIC and FSCA, the 256-bit SSL encryption represents great protection for the trader and all the operations carried out through the platform. There are no commissions for opening and closing positions, while the spreads are competitive.

3. Markets.com

With over 2000 assets available, Markets.com is a broker specialized in Forex and CFDs, which has been operating in the sector since 2008. To protect the trader, the platform can boast an operating license with the CySEC body and is also registered with the CONSOB. It is particularly appreciated, as it offers educational content, providing free training aimed at increasing knowledge of the financial markets. Although the minimum deposit is not the most accessible in the broker landscape, Markets.com does not require the payment of commissions and offers free trading for all trades that are opened and closed within the same day.

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