How much do i need to start forex trading in nigeria

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  • Daniel Adeyemi. Alexander O. Ifeoma Uddoh on running Shecluded and getting more money into the hands of women. Koromone Koroye. The past decade reflects substantial economic growth as well as an increase in disposable income. There are also more brokers that are welcoming Nigerian traders in registering an account on their platform, allowing beginners and experts to connect to global markets. One of the most common mistakes that beginner traders make often is not ensuring that they have adequate forex trading knowledge. Before approaching the forex market, Nigerian beginner traders must ensure that they consult adequate educational resources to build up their knowledge.

    One of the most basic areas to begin is learning common forex terms and their definitions. In addition to this, another imperative educational tool is a demo account. Numerous brokers offer them to traders. A demo account provides a risk-free platform to traders where they can practice trading in an environment which mimics live trading conditions, without risking actual capital. All traders who intend to be successful have a trading plan. It consists of a set of rules and guidelines that shapes and defines the trading behaviour of a trader. Nigerian beginner traders must ensure that they evaluate their needs, goals, and limitations before they start trading.

    This will ensure that they do not give in to emotional or chaotic trading and ensures that they have a clear goal and objective in mind. Once Nigerian beginner traders have a better idea of what they want to achieve through their forex trading and what they are limited to, they can start looking at the different forex trading strategies to use when trading, or they can develop their own. One of the main considerations when choosing a trading strategy is the personality of the trader.

    This is because it will be assessed by performance as well as quality of historical data, and the implementation of the strategy. Factors such as time management, dedication, commitment, patience, and others are imperative when choosing a strategy. When Nigerian traders start considering a broker to facilitate their trades, there are key factors to consider, including:. When traders start out, they must realize that there are factors that drive the prices and exchange rates in the forex market.

    How to Start Forex Trading in Nigeria

    These include, but is not limited to:. By staying up to date with news and other reports, traders can more effectively begin to anticipate what the market may do while making extensive use of both fundamental and technical analysis to assist them in trading decisions. NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners. This site uses Akismet to reduce spam. Learn how your comment data is processed. Over the last 12 months, we faced a recession, civil unrest, and significant changes to the way we work due to the COVID pandemic.

    In spite of these headwinds, we executed our key priorities, implemented initiatives relating to UPDC, strengthened management, and returned the Group to profitability. Going forward, our focus remains on creating shareholder value and we continue to prioritise growth, scale, and simplicity to achieve this.

    Forex Trading in Nigeria – How it Works, What you Need to Start Trading

    We will explore acquisitions as an avenue to accelerate growth. Consistent with our commitment to create sustainable shareholder value, the Board of Directors is pleased to announce its decision to unbundle its The allocation ratio of 0. The announced plan is subject to the review and approval of regulators, UAC shareholders at a court-ordered meeting, as well as the sanction of the court. Further updates will be communicated accordingly. The following transactions in respect of equity interests in subsidiaries are responsible for key accounting changes in FY compared to FY Revenue in FY increased 2.

    So, not all your prediction at a particular time will be right. Guys , i have really had a field day reading all the comments on this blog. Well i must say that forex trading can make you so rich and can make you so poor in a matter of seconds.. Not to forget areas like support and resistance on charts. Guys i dont want to fall into the mess others experienced. They simply saw it as a money spinner and went in not knowing jack!!

    Rule number one only invest what you can as well throw into the garbage can , ie money that wont make you cry when you loose it:cry:. Forex trading is not an every day activity. The maket volatilty would make you loose big if you are a day trader rather look long term , watch swings. Get a good brokerage firm , the one where the platform gives you live feeds not stale.

    When you make money plse withdraw quickly!! Thank you for your advices. I will read up everything about forex over the internet. But i need names of books i can read.


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    • Do you know any??? Please get back to me. Dear Kunle. If u need somebody that can manage your forex account for you,then you can give me a call or mail me on [email protected] This is what i do for now. But I can assure you of profit far better than what trading in Nigerian Stock can offer. What is the legal backing of forex business in Nigeria?

      Ephraim , forex trading is like any business opportunity that you can think of.

      How Much Do You Need To Start Trading Forex? [ARTICLE] - Pulse Nigeria

      It has regulations though , but the CBN does provide backing because it has no regulatory role in forex trading online , underline the word online…. Bodies such as the CFTC, NFA are internationally recognized bodies that regulate transactions between brokers ,traders and other affiliates. Forex trading is a market that is virtual and without national boudaries , all you need is an internet connection and a live account with a forexbroker. Pls make sure u go online , look for any forex broker, dont forget to ask others who have had dealings to reccomend any one.

      Best Forex Trading Apps In Nigeria 2021 (Beginners Guide) -

      Dedicate some time to study fx. Best of luck. Forex is very extensive it needs a lot of attention and dedication to understand, i dont wish to discourage you but will say that only a long term approach at gaining knowledge about fx would provide the required results. I would advise that you dedicate some time to browse the net and check out sites that provide the basic information you need.

      I indicated some in an earlier response. About dealing with a Nigerian firm mmmmmmmmmmmmh i dont have much to say other than u should have verifiable evidence to show a track record of success and professionalism. Take care and think long term avoid short cuts u could be ruined.

      Presently most company have they own trader but you can always trade your own money. Let me introduce the best forex trading material 5emas system. I have the latest forex-killer but it is not has good has 5emas system. You can check the web:www. You can call me on or Please can someone hear me out. I have been hearing about this forex,to be frank i am interested but afraid. How do i meet someone to put me on line with this stuff. I have seen people investing in it but i dont believe its their income until i experience it. Hi Oladele, Is true and real that people are making money in forex trading but you need to use best company to trade for you so that you can have good exprience of it.

      Am living nad working in japan for quite sometime. Am working in one of biggest forex trading in japan.

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      You can log in and check our website above and get back to me. Our company provide adequate and good service to help people make money. For more info feel free to check our website and write an email to me. People trade Forex with the wrong capital i. And they expect much 4rm it at the end of the month to either pay-up their :- internet bills, generator expenses and other miscellaneous expenses, there by opening themselves to more risk of loosing their little capital, by trading high lot sizes i.

      Pple dont practise very well enough on their demo before going live due to impatience and the anxiety of wanting to start making money and the internet cost involved in demo trading forex for so long and getting grounded, hmnn well i seriously pity u,lol, bcoz by the time this market will show u the bad side of it…….. Pple think bcoz they have done well on thier demo probably for some consistent profiting period so they feel so confident and when they want to go live they start so big very big capital i.

      Pple want to eradicate poverty 4rm thier family or upgrade thier financial status by trading forex with peanut money i. If u are nt literate to a certain extent of knwin hw 2 read and write or computer literate, then 4get it pls look else where. Pple underestimate the Forex market and ignore Sound Risk and Money Management Principles, look take it or leave it without these 2 things all ur trading efforts and profits will amount to zero in little or no time jus watch.

      Traders loose their cash due to impatience and indisciplined trading stlye, when they see a small negative value they start shaking and panting, and they jump out of the market too soon only to nw find that the trade is now going back to the direction they just closed.