NASDAQ100 is a leading US stock index comprising 102 of the largest non-financial companies listed on the NASDAQ exchange. NASDAQ100 is often abbreviated as NDX, NDQ, NA100, or US100. Notably, NASDAQ features companies such as Microsoft, Apple, Amazon, Tesla, and many more.
NASDAQ 100 is just like any other stock index where a trader does not own the asset but speculates on its price movement. For NASDAQ 100 inclusion, index securities must be listed exclusively on the NASDAQ stock exchange. We are going to look at some of the best brokers that offer NASDAQ 100 to Nigerian traders. Let’s jump in.
Is NASDAQ 100 Available in Nigeria?
Yes, there are various brokers in the market that offer the index to Nigerian traders. Traders can find the information on the broker’s site or ask their broker directly. The weight each stock has in the index is determined by its market capitalization. This means that the higher the market cap of a particular component, the higher its influence on the index. The index consists largely of technology companies and investors often use it to gauge the performance of the biggest US tech companies. So which are the brokers that offer Nigerian traders NASDAQ 100?
Exness
Regulations: FSCA, CMA, CySEC, FCA
Max Leverage: 1:unlimited
Spreads: As low as 0.2 pips
Forex Pairs: 100+
Min Deposit: $10
NASDAQ 100 Available: Yes
Nasdaq 100 is listed under the symbol USTEC 100 on Exness. Exness is one of the brokers with a $10 minimum deposit so traders can start with as little as this. Apart from the Nasdaq 100 index, the broker offers several trading instruments for its traders to choose from which include forex, other indices, stocks, crypto, and commodities.
The spreads offered on the broker site depend on which account a trader chooses. The list of accounts offered by the broker includes two standard accounts and three professional accounts. The standard accounts have an average spread of 38.6 pips for the USTEC at the time of writing this. The spread for USTEC on the raw spread account is an average of 10.5 pips while the zero accounts have zero spread and the pro account has an average spread of 24.1 pips. Furthermore, the trading platforms available for excess traders include Exness Terminal, MetaTrader 4, MetaTrader 5, and WebTerminal.
Lastly, Exness has licenses and regulations from different jurisdictions and organizations from around the world. The broker has regulations from the FSCA in South Africa, the CMA in Kenya, the CySEC in Cyprus, and the FCA in the UK.
FP Markets
Regulations: FSCA, CySEC, ASIC
Max Leverage:1:500
Spreads: as low as 0.0 pips($3 per side per lot commission applies)
Forex Pairs:70+
Min Deposit:100 AUD
NASDAQ 100 Available: yes
FP Markets is one of the brokers that offer the Nasdaq 100 index to Nigerian traders. Nasdaq 100 is available on FP Markets under the US100 symbol. It is offered on this broker site as a CFD with fairly low spreads that average 1.51 pips. Further, the broker offers deep liquidity, transparent share price control, and full market depth.
Moreover, FP Markets is regulated by several reputable organizations in the market including CySEC in Cyprus, ASIC in Australia, and the FSCA in South Africa. with such regulations, there is no doubt that the broker is one of the best in the market.
The Nasdaq 100 index is not the only asset offered by this broker. FP Markets offers over 10,000+ trading instruments that a trader can choose from. These include forex currency pairs alongside CFDs on indices, stocks, bonds, crypto, and ETFs. The trading platforms a trader can access when trading the instruments include MetaTrader 4, MetaTrader 5, Iress, cTrader, and WebTrader.
Further, traders can choose between two main account types which include the standard and the raw account. The standard account features spreads from 1.0 pips for major currency pairs with no commission. On the other hand, the raw account has spreads from 0.0 pips with a small commission of $3 per side per lot.
Pepperstone
Regulations: CMA, CySEC, ASIC, FCA
Max Leverage:1:400
Spreads: as low as 0.0 pips($3.50 per side per lot commission applies)
Forex Pairs: 90+
Min Deposit: No minimum deposit
NASDAQ 100 Available: yes
Pepperstone allows Nigerian traders to speculate on a variety of indexes including Nasdaq 100. The other indices the broker offers include US500, UK100, JPN225, and many more. While the forex markets allow traders to trade nearly 24 hours a day except for weekends, other markets have specific timing. Nasdaq 100 under symbol NAS 100 on Pepperstone is available to trade between 01.00-23.59 GMT on weekdays and closed on weekends. The average spread offered by Pepperstone on this asset is a reasonably low 1.40 pips.
Notably, clients can make use of the wide range of trading instruments the broker offers. Pepperstone clients can invest in over 1200+ CFDs on forex, indices, ETFs, commodities, cryptocurrencies, and shares. The diversity the broker allows enables clients to invest in more than just the Nasdaq 100 index. The broker supports trading on TradingView, MetaTrader 4, MetaTrader 5, and cTrader.
The spreads when trading with the broker depend on which account a trader chooses. The two main accounts offered by the broker include the standard and the razor account. The standard account features spreads from as low as 1.0 pips for major currency pairs with no commission. In comparison, the razor account features spread from as low as 0.0 pips with a small commission of $3.5 per lot per side when using MT4, MT5, and TradingView. When using cTrader, the commission on the razor account is $3 per side per lot.
Finally, Pepperstone has licenses and regulations in various jurisdictions. The broker is under the watchful eyes of the CMA in Kenya, the CySEC in Cyprus, the ASIC in Australia, and the FCA in the UK, among others. Such regulations help to win clients’ trust.
XTB
Regulations: FSCA, CySEC, FCA, KNF
Max Leverage: 1:500
Spreads: As low as 0.5 pips
Forex Pairs: 48+
Min Deposit: No minimum deposit
NASDAQ 100 Available: Yes
XTB also allows Nigerian traders to trade Nasdaq 100 under the symbol US 100. The index can be traded between 12.00 am and 11.00 pm. The maximum leverage a trader can access when trading Nasdaq 100 on XTB is 1:200. Further, the minimum spread a trader can access when trading Nasdaq 100 is 0.9 pips.
In terms of regulations, XTB operates under the supervision of various reputable organizations. These include the FSCA in South Africa, the CySEC in Cyprus, the FCA in the UK, and the KNF in Poland. Moreover, XTB traders can invest in a wide range of trading instruments including forex, indices, commodities, cryptocurrencies, equities, and ETFs. XTB also offers market-standard trading platforms for its traders to use and they include xStation 5 and xStation mobile.
XM.COM
Regulations: FSC, CySEC, FCA
Max Leverage: 1:1000
Spreads: As low as 0.6 pips
Forex Pairs: 48+
Min Deposit: $5
NASDAQ 100 Available: Yes
XM.com offers Nasdaq 100 to its traders under the symbol US 100. The maximum leverage a trader can acquire on the index is 1:500. XM.com has a variety of trading accounts for its traders to choose from including the micro, standard, XM Ultra Low Account, and share accounts. The spreads are low on this broker site starting from 1.0 pips on the standard account. On the XM ultra low account, the spreads are as low as 0.6 pips. What’s more, the minimum spread a trader can access when trading Nasdaq 100 is as low as 1.20 pips.
XM.com offers other trading instruments apart from the Nasdaq 100 index. The other trading instruments offered by the broker include CFDs on forex, cryptocurrencies, stocks, commodities, energies, and precious metals. Clients can access the trading instruments on a world-class trading platforms the broker offers which include MetaTrader 4, MetaTrader 5, and WebTrader.
Finally, the broker has regulations from known regulators in the market. XM.com has regulations from the FSC in Belize, the CySEC in Cyprus, and the FCA in the UK.
AvaTrade
Regulations: FSCA, ASIC
Max Leverage: 1:400
Spreads: As low as 0.9 pips
Forex Pairs: 55+
Min Deposit: 100 AUD
NASDAQ 100 Available: Yes
AvaTrade is another broker offering Nasdaq 100 to Nigerian traders under the symbol US TECH100. Traders can trade the index from 22.00 – 20.59(GMT) on AvaTrade. When trading the index a trader can access leverage as high as 1:200. The Minimum spread a trader can access on AvaTrade when trading Nasdaq 100 is 1.0 pips and the margin is 0.50 %. For other trading instruments spread can go as low as 0.9 pips. AvaTrade charges a swap fee on various instruments. The swap charged on the Nasdaq 100 index includes a buy at -0.0266% and a sell at -0.0006%.
AvaTrade has a variety of tradable assets other than Nasdaq 100 for traders to invest in. These include CFDs on forex, precious metals, commodities, bonds, equities, and ETFs. The trading platforms available include MetaTrader 4, MetaTrader 5, and AvaTradeGO.
Lastly, AvaTrade has regulations from several regulators in the market. These include the FSCA in South Africa and the ASIC in Australia.
How We Chose The Best Brokers That Offer NASDAQ 100 In Nigeria
There are four key features we looked at when deciding the best brokers offering NASDAQ 100 to Nigerian traders. We used the following criteria:
- Regulations and Licenses- We only reviewed brokers that are regulated by reputable organizations in the market. Since Nigeria has lacklustre regulations, we considered regulations in other jurisdictions.
- Availability of NASDAQ 100– All the brokers featured here allow the trade of NASDAQ 100 to Nigerian traders.
- Trading Fees – Considering no trader wants to pay large sums of money when trading, we only looked at brokers with competitively low fees.
- The Trading Platform Available – The trading platform available must be suitable for all kinds of traders including advanced and beginners.
Benefits of Trading NASDAQ 100
Technology Exposure
NASDAQ 100 largely consists of technology companies such as Apple, Amazon, Tesla, Microsoft, and many more. Many companies that call the index home have strong cash flow and have a dominating share of their market. As such, investing in the Nasdaq 100 gives traders exposure to a strong industry with a lot of potential for growth.
Great Diversification
Although the NASDAQ 100 is tech-focused, it’s still home to some of the largest and fast-growing companies across various fields such as healthcare, industry, and consumer goods. Such diversity helps to shield traders from factors that can affect a single company or industry.
Availability of Leveraged Products
The Nasdaq 100 index is offered as a leveraged product allowing traders to control relatively high positions. These allow traders to increase their market exposure with a small investment.
NASDAQ 100 Has A High Trading Volume
The liquidity associated with the asset is high enough to allow traders to enter and exit positions with little or no slippage. While traders cannot trade liquidity, the fast movement is still one of the most important market determiners. Further, the ability to go long or short allows traders to earn a profit even in harsh trading conditions.
Final Thoughts
We have looked at some of the best brokers that offer Nasdaq 100 to Nigerian traders. We only covered brokers that offer the index and have favourable trading conditions for traders. Additionally, we only considered brokers with stellar reputations and regulations. Since this is not the full coverage of brokers that offer the index, we advise readers to do their research and choose a broker that best suits their needs. With the benefits we have gone through it’s no surprise why several traders invest in the index. However, it’s important to note that all trading carries risk and a trader should be very careful when investing.
