How to Trade iShares MSCI South Korea ETF (EWY) in Nigeria

From Nigeria, exposure to iShares MSCI South Korea ETF runs through a USDC-settled perpetual.

Is iShares MSCI South Korea ETF trading legal in Nigeria?

Nigeria settled the question at the level of statute. The Investments and Securities Act 2025, gazetted on 2 May 2025, writes “virtual and digital assets” into the definition of securities, and it gives the Securities and Exchange Commission the job of registering and regulating virtual and digital asset exchanges, virtual asset service providers and digital asset operators. So holding and trading crypto is lawful, and the earlier posture — in which the Central Bank told banks not to service crypto businesses — has been replaced by a framework in which the activity is regulated.

What the contract is

A perpetual on EWY tracks price and does not confer ownership of the underlying — the same contract mechanics apply in every jurisdiction; what differs by country is legal status and funding rails.

Sign up on Canborsa with email, X or a wallet

No document upload to open the account. Canborsa is non-custodial: your collateral stays under your own keys until a position opens.

Email X Wallet

Fund the account with USDC

Deposit USDC over Canton, Robinhood Chain, Ethereum, Base, BNB Chain or Arbitrum. Canborsa takes no fiat, so buying the USDC happens wherever you normally buy stablecoins.

→Robinhood Chain

Open EWY-PERP

Pick EWY in the markets list. The ticket shows the live price, the current funding rate and max leverage 10x .

EWY-PERPPerpetual · USDC marginLONG

Choose Buy / Long, then set size and leverage

Buying $1,000 of EWY at 5x uses $200 of collateral. Higher leverage moves the liquidation price closer to your entry: your exposure is the position size, whatever margin you posted. Set a stop-loss below your entry before you walk away.

Capital Gains Tax applies at a flat rate of 10% on all gains from cryptocurrency disposals for individuals.

Trading EWY from Nigeria: legal.

From Nigeria, you can fund an iShares MSCI South Korea ETF position using Bank Transfer, Debit Card and Mobile Money (PalmPay, Kuda).

11 platforms serve Nigeria for iShares MSCI South Korea ETF trading, among them ApeX, Aster and Avantis.

On Canborsa, iShares MSCI South Korea ETF trading from Nigeria costs 0.07% per side.