Forex Trading in Nigeria
A combination of mobile trading platforms, high leverage and low minimum deposit requirements have made the forex market accessible to everyone.
Excellent Customer Service
FXPrimus pride itself as a leader in Forex Trading and excellence. EToro — This is among the biggest name in the Forex marketplace and has been around for many years. EToro brokers can be seen as a social trading and a multi asset brokerage company that has registered offices in Cyprus, Israel and Great Britain.
One thing unique about eToro is that they allow its traders to look at the financial trading activity of other users, copy the skill, and earn their unique trades. Much like most Forex Brokers, the company is located and headquartered in Cyprus. Traders at each level can be assisted by the Markets. The broker offers exclusive market analysis and news, live webinars, seminars, ebook and video libraries, along with free 1-on-1 online training with a personal account manager.
Alpari — This Broker is well respected in Nigeria and the company invites you to trade Forex with them with a promise to come out with the best result in trading currency. The company has received so many awards by year in the Forex Markets. Alpari is really a highly successful Forex Brokers with many different years of experience in the game.
When it comes to Forex security and reliability, make sure you are dealing with the top in the Forex business. FXPro -This is the number 1 Forex Brokers in the world and it has remained the best choice since FXPro is professional in Forex investment and one of the top Forex brokers. I hope reading this post will enable you to make the best choice when choosing the best Forex brokers in Nigeria.
On the other hand, some jump into the market too soon, without learning the ropes. The most efficient way to a profitable forex career requires reading and practice. Read as much as you can about fundamental and technical analysis; design a trading system that suits you and ensures it gets traded for at least a month on a demo account; and then make a deposit that suits your trading plan.
You can get more information about learning tools for free online here. Retail forex traders can easily use credit cards options to make deposits in accounts, to satisfy their banking requirements on various forex brokerage firms anywhere in the world.
Most brokers also allow for Neteller, PayPal, and other e-wallets to be used as well as bank wire. On the odd occasion, you may find a broker that will allow you to make a deposit at a local bank branch. Nigerian forex traders must make sure they always stay on the right side of the law. As long as you are using a regulated broker, and you are trading for yourself and not on behalf of others, then it is perfectly legal. It is important that you declare you earnings in your taxes just as you would with any other form of self employment.
For more on this, read our article about the legality of trading forex online in Nigeria. Online forex trading carries a high degree of risk to your capital and it is possible to lose your entire investment.
Only speculate with money you can afford to lose. Forex trading may not be suitable for all investors, therefore ensure you fully understand the risks involved and seek independent advice if necessary.