For Nigerian forex traders seeking to scale up without risking personal capital, here’s a side-by-side look at the top prop-trading options. See how fees, funding styles, profit splits and withdrawal terms compare—then jump to the full review that fits your needs.
Table of Contents
- Introduction – introduction
- Quick Comparison Table – comparison-table
- Local Success Stories – local-success-stories
- Which Firm Fits Your Needs? – firm-recommendations
- Next Steps – next-steps
- FAQs – faq
Introduction
Nigerian traders face unique challenges: converting Naira into USD, navigating local banking rails, and finding funding partners who understand our market. Prop firms like The5ers and FTMO remove these barriers by letting you trade with institutional-size capital while you manage risk on demo accounts. You keep the upside—up to 100% of profits with The5ers, up to 90% with FTMO—while they absorb losses within preset drawdown limits. Fees start as low as ₦45 000, payouts occur every two weeks, and crypto rails simplify fund flow back into Naira.
Quick Comparison Table
| Feature | The5ers | FTMO |
|---|---|---|
| Entry Fee (₦) | ₦45 000 (Bootcamp) ₦120 000 (Bootcamp large) ₦108 000–₦354 000 (Hyper Growth) | ₦62 000 (Challenge) |
| Account Sizes (USD) | $10 K–$250 K | $10 K–$200 K |
| Funding Style | 1-step instant, 2-stage, 3-stage | 2-stage (Challenge → Verification) |
| Profit Split | Up to 100% | 80% → 90% |
| Profit Target | 6% per stage; 10%; 8%→5% | 10% → 5% |
| Max Drawdown | 5% stage; 3% daily; 6%/3%; 10%/5% | 10% max; 5% daily |
| Leverage | 1:10, 1:30, 1:100 | 1:30 |
| Scaling Cap | Up to $4 M | Up to $2 M |
| Withdrawal Cycle | Bi-weekly | Bi-weekly |
| Naira Funding | Rise, crypto | USD rails only (bank, Skrill, PayPal) |
| Crypto Payouts | USDT, USDC, ETH, LTC | USDT, USDC on request |
| Review Link | The5ers Review → | FTMO Review → |
Local Success Stories
Oluwafemi O.
- Location: Lagos, Nigeria
- Journey: Scaled from $20 K to $40 K in High-Stakes, withdrew $4 753
- Key insight: “I learned patience—The5ers isn’t going anywhere. Slow and steady wins the payout.”
- Next goal: Reach 10% profit to scale to $50 K
Which Firm Fits Your Needs? – firm-recommendations
| Profile | Best Fit |
|---|---|
| Lowest upfront cost | The5ers Bootcamp (₦45 000) |
| Instant access to capital | The5ers Hyper Growth |
| Simplest evaluation | FTMO (2 stages) |
| Maximum scaling potential | The5ers (up to $4 M) |
| Unlimited time to hit targets | FTMO |
| Native crypto withdrawals | The5ers |
Next Steps
- Select your firm and program:
- Complete challenge application in Naira or crypto.
- Trade under demo rules, manage risk, and unlock real capital.
FAQs
Q: How do I pay entry fees in Naira?
Use Rise or crypto (USDT-TRC20); see each review for step-by-step.
Q: What happens if I hit a drawdown limit?
Your evaluation resets; you may repurchase to try again.
Q: Can I attempt multiple firms?
Yes—but each attempt requires its own fee.
All data verified on The5ers.com and FTMO.com as of April 2025. Exchange rate: ₦475/USD.