1. Interactive Brokers (IBKR) – Best Overall
Low fees & best execution
Access to US & global markets (stocks, ETFs, options, futures, forex)
No minimum deposit for IBKR Lite
Advanced trading tools & margin trading
Best for: Experienced traders, investors looking for global market access.
2. TD Ameritrade (Now part of Charles Schwab) – Best for Education & Research
Commission-free trading on US stocks & ETFs
ThinkorSwim platform for advanced trading
Great educational content & research tools
Best for: Beginners & advanced traders who need research tools.
3. TradeStation – Best for Active Traders
Powerful trading software with customizable features
Commission-free stocks & ETFs
Low options and futures trading fees
Best for: Traders looking for advanced analytics & automation tools.
4. Fidelity – Best for Long-Term Investors
Commission-free trading on stocks & ETFs
No account minimums
Great customer service & retirement account options
Best for: Long-term investors looking for high-quality service & research.
5. Charles Schwab – Best for Beginners & Long-Term Investing
No commission on US stocks & ETFs
Easy-to-use platform with good customer support
Fractional shares investing
Best for: Long-term investors, beginners looking for a reliable broker.
6. E*TRADE – Best for Mobile Trading & Options Trading
User-friendly mobile & web platforms
No commissions on stocks & ETFs
Great for options traders
Best for: Mobile-first traders & those interested in options trading.
7. Firstrade – Best for Commission-Free Trading
$0 commission on stocks, ETFs, options, & mutual funds
No inactivity fees
Chinese-language support (good for international investors)
Best for: Investors who want truly free trading & no hidden fees.
8. Webull – Best for Mobile Trading & Zero Commissions
$0 commission on stocks, ETFs, and options
User-friendly mobile app with real-time data
Paper trading for beginners
Best for: Mobile traders who want a modern interface & commission-free trades.
9. Saxo Bank – Best for High-Net-Worth Investors
Access to over 40,000 assets (stocks, ETFs, forex, bonds, commodities, etc.)
Premium trading platform with deep liquidity
High minimum deposit ($2,000+)
Best for: Wealthy investors looking for multi-asset exposure.
How to Open a US Brokerage Account as a Nigerian
Step 1: Choose a broker that accepts Nigerians (IBKR, TradeStation, Fidelity, Schwab, etc.).
Step 2: Provide your passport, proof of address, and Tax Identification Number (TIN).
Step 3: Fund your account via wire transfer or fintech apps like Wise or Payoneer.
Step 4: Start investing in US stocks, ETFs, & options.
Final Thoughts
- Best for Beginners: Charles Schwab, Fidelity, TD Ameritrade
- Best for Active Traders: Interactive Brokers, TradeStation, E*TRADE
- Best for Long-Term Investors: Fidelity, Schwab, IBKR