- 1 FXPIG Broker Review Basics
- 2 Our Opinion About FXPIG
- 3 Regulation in Nigeria
- 4 FXPIG Forex Broker Review: Legit or Scam?
- 5 FXPIG Trading Instruments
- 6 FXPIG Account Types
- 7 Standard Account
- 8 Premier Account
- 9 Pro Account
- 10 Trading Tools
- 11 FXPIG Leverage, Spread, and Commissions
- 12 FXPIG Deposits and Withdrawals
- 13 Bank Wires
- 14 Debit/Credit Cards
- 15 eWallets
- 16 Cryptocurrency
- 17 FXPIG Registration – How to Open a Trading Account
- 18 FXPIG Bonuses and Promotions
- 19 Periodic Promotional Offers
- 20 Traders Union Rebates
- 21 Contests
- 22 PAMM/MAM Accounts
- 23 No Deposit Bonus
- 24 FXPIG Trading Platforms
- 25 FXPIG Education and Research
- 26 FXPIG Customer Support
- 27 Our Verdict
- 28 FXPIG Broker Review FAQs
- 29 Similar Brokers
FXPIG Broker Review Basics
|🏛️ Based in
|💰 Minimum Deposit
|💳 Deposit Options
|BankTransfer, Visa/MasterCard, Skrill, Neteller, BTC, ETH, USDT
|💳 Withdrawal Options
|BankTransfer, Visa/MasterCard, Skrill, Neteller, BTC, ETH, USDT
|📌Open an account
|Start Trading with FXPIG
Our Opinion About FXPIG
FXPIG is an online trading STP broker company that specializes in forex, stocks, indices, commodities, and cryptocurrencies. It was founded in 2011 and operates under international legal authority oversight. The company is fully licensed by the Vanuatu Financial Service Commission (VFSC) and offers top-class services.
After a detailed analysis of FXPIG trading conditions, platforms, and services, we have made a favorable conclusion about this Forex agency for the Nigerian market.Among them are low spreads from 0 pips, up to MT4 / MT5 leverage ratio of 1:500, advanced trading platforms that operate throughout the week 24/5, and multilingual support with instant replies.
What distinguishes it from the rest is its highly advanced trading technology, together with its sophisticated-tier liquidity. FXPIG is a favorite among new forex, seasoned, and CFD traders in Nigeria. Based on deposit thresholds, their account tiers provide discounts on tight spreads and commissions. With regulation by VFSC, traders can have confidence in FXPIG’s legitimate and reliable operations spanning 10+ years in business. For the Nigerian market in 2024 and beyond, FXPIG delivers as a trusted broker committed to service and execution excellence.
Regulation in Nigeria
Although FXPIG does not have a physical office in Nigeria, it is supervised by powerful regulators like the Vanuatu Financial Service Commission (VFSC). These tight regulators monitor important aspects of client fund handling, capital reserves, and transparency reporting. Being registered as a regulated broker in Nigeria means your funds will be kept separate from those of the company while they also hold a sufficient capital base for their operations. Licensing by VFSC serves as evidence of FXPIG’s reliability.
FXPIG Forex Broker Review: Legit or Scam?
FXPIG is a legitimate brokerage firm that has been operating for over ten years now and is licensed by top-tier regulators. They are transparent in disclosing all account terms, fees, risks, and policies on their website. As an established broker, FXPIG focuses on client retention through reliable forexmt4 services rather than a scam operation looking for quick profits. After much review, their long track record speaks for itself – FXPIG is not a scam.
FXPIG Trading Instruments
FXPIG provides trading access across these markets
- Forex – 80+ currency pairs, including majors, minors, and exotics
- Stocks – 150+ US and EU publicly traded companies
- Cryptocurrencies – 60+ top cryptos, including Bitcoin and Ethereum
- Commodities – Gold, silver, oil, natural gas
- Indices – 12 major global stock index CFDs
This diverse product range lets Nigerian traders access thousands of global markets.
FXPIG Account Types
FXPIG offers these main account tiers:
|From 0.1 pips
|$4 per lot
|From 0.1 pips
|$3 per lot
|From 0.1 pips
|$2 per lot
The Standard account features a reasonable $200 minimum deposit of 0-0.9 pip spreads. Traders pay a transparent $4 commission per lot without dealing spreads. All assets and platform access are available with up to 1:500 maximum leverage. No restrictions on trading activities are imposed. This entry-level account suits most new Nigerian traders.
For the $5,000 minimum deposit, the Premier account offers reduced spreads from 0-0.7 pips and low $3 lot commissions. Traders gain access to all instruments, platforms, and efficient 1:500 leverage. Priority technical support provides value for committed investors, creating a premium experience.
The Pro account targets professional investors with a higher minimum $50,000 deposit requirement. In exchange for sizeable capital, traders receive the tightest 0 pip fixed spreads and discounted $2 lot commissions. Robust 1:500 leverage continues across the 6,000+ tradeable products. The Pro account delivers active traders institutional grade spreads and pricing.
FXPIG offers a variety of technical trading tools, including:
- Expert advisors (EAs) for automated trading
- Virtual private servers (VPS)
- MAM for fund managers
- PAMM managed accounts
- Moving Average Convergence/Divergence (MACD)
- Parabolic SAR (stop and reverse)
FXPIG Leverage, Spread, and Commissions
Key points about FXPIG’s competitive fee structure include;
- High leverage up to 1:500 offered
- Raw ECN spreads from 0 pips available
- Reduced commissions on higher tier accounts (as low as $1 per lot)
By providing deep liquidity, tight variable spreads, and high leverage, FXPIG ensures affordable market access. Such competitive trading conditions allow Nigerian clients to enter larger positions while minimizing transaction costs. The combination of institutional grade liquidity, spreads from 0 pips, and leverage up to 1:500 gives Nigerian traders affordable access to trade currencies in relevant sizes.
FXPIG Deposits and Withdrawals
FXPIG offers flexible banking options, including:
Bank wires allow Nigerian clients to send Naira directly to FXPIG’s segregated client funds accounts from their bank accounts. This ensures efficient and secure funding.
The online portal provided by Fxpig allows for instant deposits using Visa or MasterCard debit or credit cards. Nigerian debit/credit card holders can deposit in Naira quickly.
eWallets like Skrill and Neteller are popular in Nigeria due to fast processing and low fees. Nigerian clients can link their eWallet to a Naira bank account.
BTC allows Nigerian clients to deposit using cryptocurrency, which can offer privacy benefits and convenience.
The multiple deposit and withdrawal options cater to Nigerian clients’ needs for local payment solutions when trading with FXPIG.
FXPIG Registration – How to Open a Trading Account
Opening a live or demo account with FXPIG has a streamlined process:
- Select account type and submit personal details
- Verify email and identity
- Make a minimum deposit to activate the account
- Access trading platforms to begin trading
- The online application takes just minutes to complete. Support staff assists with any questions.
FXPIG Bonuses and Promotions
FXPIG offers periodic promotions, including:
Periodic Promotional Offers
FXPIG provides periodic promotions rather than a standard deposit bonus for new clients. These periodic promotions offer things like free VPS hosting, cash rebates on trading commissions, and other benefits to select clients. The promotions provide extra value on top of FXPIG’s tight trading spreads and conditions.
Traders Union Rebates
FXPIG offers rebates and bonuses through its partnership with Traders Union. These rebates provide additional savings for FXPIG clients who are also members of the Traders Union service. The rebates can make trading more profitable.
FXPIG runs trading contests that offer prizes and bonuses to top performers. Contests allow traders to profit above and beyond their normal trading gains. The contests have specific terms and eligibility criteria for participants.
FXPIG clients can earn additional income by investing in the platform’s managed PAMM and MAM accounts. Skilled managers can provide split profits with investors according to agreed terms.
No Deposit Bonus
FXPIG does not currently offer a traditional deposit bonus for new clients. They focus more on trading conditions and periodic promotions than a bonus upon account opening. This may change in the future.
FXPIG Trading Platforms
For desktop and mobile access, FXPIG provides the powerful MetaTrader suite along with cTrader and FIX API:
- MetaTrader 4 (MT4) – Customizable third-party platform with advanced tools
- MetaTrader 5 (MT5) – Enhanced version of MT4 with more assets and indicators
- cTrader – Sophisticated alternative platform tailored to active traders
- FIX API – Solution for automated and high-frequency trading systems
These trading platforms cater to different trading requirements. This means that you are not limited to access based on your device.
FXPIG Education and Research
FXPIG in Nigeria assists beginner traders through resources like trading tutorials, a terminology glossary, an economic calendar, daily market analysis, demo accounts, and more. For example, the broker provides trading calculators and tools to help with planning. FXPIG also offers a detailed economic calendar and daily market analysis to help guide trading decisions.
Beginners can access forex and CFD trading tutorials that explain terminology, strategies, risk management, and more. Additionally, FXPIG provides unlimited demo account access so forex traders can practice risk-free before investing real money. The educational resources help beginner traders augment their skills and knowledge regardless of experience level.
FXPIG Customer Support
FXPIG provides 24/5 customer assistance via:
- Email and web contact forms
- Local phone numbers
- Live chat platform
Their multilingual team aims to resolve queries and issues quickly.
Our FXPIG review checks all the boxes for Nigerian forex traders as a trusted broker with stellar trading conditions, robust platforms, and accountable service backing it all. In 2023, FXPIG remained one of the best industry leaders catering to the Nigerian market.
FXPIG Broker Review FAQs
Yes, FXPIG complies with regulations enforced by financial agencies that oversee key aspects of their brokerage operations.
The minimum deposit to open a Standard account with FXPIG is $200. To get started, other proprietary account tiers require higher minimums between $500 and $1,000. Overall, FXPIG facilitates opening an account with a relatively low initial deposit.
FXPIG allows trading access to 80+ forex currency pairs, 150+ global stocks, 60+ top cryptocurrencies, commodities like gold and oil, and 12 major index CFD products. This range caters to traders interested in thousands of international markets.
FXPIG accepts forex client sign-ups from most jurisdictions worldwide, including Nigeria. Nigerian traders can open FXPIG accounts quickly by completing the online application forms and funding their accounts via various local payment methods.