At least 30% of Nigeria’s young population has shown interest in online trading, but many are kept away by steep entry costs and intimidating platforms.
Today, that problem was cut significantly as FXTM, a global leader in online trading, shed more light on FXTM Edge, a new account designed to make trading simpler, cheaper, and accessible to everyday Nigerians.
At the Marriott Hotel, Ikeja GRA, FXTM executives engaged the media, breaking down how the product, recently launched in Nigeria, reduces entry barriers for beginners while still offering unique value for experienced traders.
Until now, Nigerian traders needed a minimum deposit of $200 to begin trading with FXTM. FXTM Edge reduces this to just $50 (₦ exchange equivalent), opening the door for students, young professionals, and anyone curious about forex or commodities.
“Many Nigerians are interested in trading but are held back by complexity, high costs, or lack of experience,” said Adaeze Uzochukwu, Specialist, Education & Media at FXTM. “FXTM Edge was built to remove those barriers and give everyone a chance to participate in global markets confidently.”
The platform allows users to trade in micro lots, manage risks more effectively, and benefit from an in-app reward system. For every lot or unit traded, users can earn credits which can either be withdrawn or reinvested.
Features for New and Experienced Traders
The new platform was built as a mobile-first solution, targeting Nigeria’s smartphone-driven financial culture.
For beginners, FXTM Edge provides:
- A clean, user-friendly interface free from overwhelming charts.
- Built-in education materials, tutorials, and trade inspiration.
- Micro account options to help new traders test strategies gradually.
For experienced traders, the app offers:
- Competitive spreads from 1.2, sharper than most existing platforms.
- Speed and flexibility for those who prefer mobile over desktop trading.
- Low-risk testing of strategies with smaller deposits.
- Instant deposits and withdrawals in both naira and dollar accounts.
“FXTM Edge is more than just a trading account; it is a gateway for Nigerians to enter the financial markets with confidence,” Uzochukwu added.
Why Nigeria?
On why the app was designed specifically for Nigerians, Uzochukwu explained that the country represents one of Africa’s largest untapped retail trading markets. “It doesn’t matter whether you’re a medical professional, lawyer, student, or businessperson. Everybody is our target audience, so long as you’re interested in trading and making extra money.”
During the roundtable, concerns about regulation in Nigeria’s trading sector were raised, noting that most brokers operate under foreign licences. Uzochukwu admitted that regulatory clarity is a challenge.
“My personal opinion is that SEC has not put out a policy to deal with forex trading,” she said. “That is why the industry looks unstructured. But it doesn’t affect us negatively, because we are very legitimate. We have an office in Nigeria, and whenever issues arise, we clarify with the regulators.”
She further disclosed that FXTM pays required taxes, including through the Federal Inland Revenue Service (FIRS), and has held discussions with government agencies to push for broader regulation.
Building Trust in a Growing Market
Uzochukwu also noted that FXTM has a strong track record on the continent, backing its growth with award-winning platforms, tailored education, and years of operational presence in Africa.
To demonstrate how small deposits can still make a difference, she narrated the story of a Nigerian client who once deposited small amounts between $500 and $2,000 to test strategies. Years later, with greater confidence, he began depositing up to $1 million.
“That is the power of starting small. With FXTM Edge, Nigerians can now do the same, without fear of losing everything upfront,” she said.
With FXTM Edge, the company believes that a simplified, mobile-first, and lower-cost approach will enhance Nigerian participation in global markets.
