FXTM is enhancing its product offering to online foreign exchange traders in Nigeria, by making its popular Standard and ECN trading accounts available in local currency.

The launch of the new Naira currency accounts are exclusive to citizens and residents of Nigeria, demonstrating FXTM’s commitment to providing tailored products and services for local investors.

As part of the new service, Nigerian traders can open Cent Accounts with as little as N1,000, and Standard Accounts with N20,000, while also benefitting from the trading terms available across all Its Standard and ECN accounts.

These include floating leverage of up to 1:1000, low deposits fees and instant withdrawals, and the ability to implement hedging strategies through the MT5 ECN account.

Additionally, FXTM’s clients in Nigeria can rely on the broker’s instant execution and competitive spreads, while account funding will be easier than ever – with local transfer methods also available on the new Naira accounts.

The Vice President, Corporate Development and Market Research at FXTM, Jameel Ahmad, said: “Supporting our clients around the world to get the most from their trading experience is key to FXTM’s mission. Having listened closely to the needs of our traders in Nigeria, we are pleased to now be one of a handful of brokers which offer the Naira as a base currency for trading.

“This is an exciting development for FXTM, and with these new Naira accounts, which have been launched specifically to cater to Nigerian traders, we expect to see even higher levels of demand for our products and services.”

FXTM’s world-class products and services for local traders were recently recognised when the broker was named Best Forex Broker, Nigeria 2016 by the Global Brand Awards.

The addition of the Naira accounts is part of FXTM’s wider commitment to traders in Nigeria which has recently seen the global broker roll out an extensive program of local educational events.