Terminal NotesNigeria
Ten brokers, one question per column: which terminal you get, what it costs to start, and who the licence actually belongs to. Every figure was checked on 12.10.2026 and each licence read in the regulator's own register.
2 of 10 brokers support MetaTrader 5
Payout is the share of a winning fixed-time contract the broker pays back. Licences are a separate question and are set out on our register site, not squeezed into this table.
MT5 does more out of the box. Choose MT4 only if you depend on an Expert Advisor or indicator that exists in MQL4 alone.
A web terminal is enough to place and manage trades from any computer. Automation and custom tools need the installed application.
Most traders analyse on a desktop and keep the phone app for watching open positions and closing them.
You want charts on a big screen and a terminal that keeps running while you work. Only an installed MetaTrader gives you that; everything else is a browser tab.
Scripts and Expert Advisors run only inside MetaTrader, only on desktop, and only while the terminal is open.
You already analyse in TradingView and want to place the trade without leaving the chart.
An Android or iOS app, a low entry amount and no installation at all.
What follows is our reference, broker by broker. Nothing is added to it, and a gap in a register stays a gap on the page.
Registers used: VFSC · CySEC · MFSA · SEC Nigeria
{mt5_list} offer MetaTrader 5{mt4_clause}. The other 8 run their own platform in the browser and in their apps. The Platforms column shows this for every row.
MT5. It has more timeframes, more order types and a built-in economic calendar, and every broker here that offers MetaTrader offers MT5. MT4 matters only if you already depend on an MQL4 Expert Advisor.
Not directly. MQL4 and MQL5 are different languages, so the Expert Advisor has to be rewritten or obtained in an MQL5 version.
No. MetaTrader is software made by MetaQuotes. You download it for free and then log in with an account opened at a broker that supports it.
Yes, MT4 and MT5 have Android and iOS apps. You can trade and manage positions, but Expert Advisors and the strategy tester work on desktop only.
The table shows the regulator and number we could confirm in a public register. The Securities and Exchange Commission licenses capital market operators and has not licensed fixed-time (binary) trading, so none of these brokers holds a local licence.
An Expert Advisor runs only while the terminal is open and online. A virtual private server keeps it running when your computer is off or the power goes out.