Forex Trading in Nigeria.
Forex Trading in Nigeria Forex is a short form for the FOReign currencies EXchange market. It is one of the most liquid markets in the world, while being the largest financial market (daily average volume is about $ trillion according to BIS report). Fundamental Forecast for EUR/USD: Neutral – Euro gains over the past week have largely driven by signs that the Italian government will fall in line with the European Union’s budgetary restraints.
Study with us and become a part of the next generation of Nigerian Forex traders. Take the first steps in Forex with the help of our specialists. Get detailed knowledge of all the services that Alpari can provide. We're sorry, an error has occurred. Please try again later.
Alpari offers a number of different accounts suitable for every level of trader, from beginning to advanced. Make a deposit using one of the convenient methods available. Download the trading platform from myAlpari, and make your first trade!
Invest Funds You can earn an unlimited amount even if you don't trade by yourself! To invest your funds: Register for myAlpari , where you can manage your investments and accounts. Make a deposit to your transitory account through one of the convenient ways provided. Depending upon whether you are making a deposit by wire transfer or cash: Please note that if a conversion is required, it will be made at Alpari's company rates. Please fill in the form which appears when you click on the button below.
Tell Us about Your Payment Your account will be credited within 24 hours. Next to "Transfer Type", select "Fund Deposit".
Next to "Transfer From", select the method you will use to make the transfer, and then choose the currency you will use. Then, select the account you wish to fund. You will be transferred to a page to fill in the required fields to complete the transfer, and upload the necessary supporting documents. Finally, confirm your deposit by clicking "Transfer Funds".
Log into myAlpari , and click "Deposit Funds". Making Transfers between Your myAlpari Accounts Please note that when you make a deposit using any Nigerian banking payment methods, the funds will appear in your "Transitory Account". Log in to "myAlpari". If you cannot see the left hand menu, click on "Show Menu" top left of your screen.
From the "Transfer Funds" menu, select " Account-to-account Transfer ". From the "Transfer Type" menu, choose "Account-to-account Transfers". From the "Transfer From" menu, select "Transitory Account". Next to "Transfer To" select the desired account you wish to fund. Next to "Transfer amount" state how much funds you wish to transfer. Finally, click on "Transfer Funds".
General Information about Fund Transfers and Cash Deposits Alpari will not process transfer requests from third parties. If we receive funds from the account of a third party, these funds will be returned to the sender's account.
All transfer fees will be at the client's expense. If a conversion is required, it will be made at Alpari's company rates. This is more than enough to live a comfortable retirement and also leave a nice inheritance to the kids.
This is why investing in the stock markets makes sense for people who can save large amounts of money on a regular basis. The problem with such long-term and low-yield investments is the high capital needed in order to achieve substantial earnings. If you cannot afford to save large amounts of money, low-yield investments will generate too little profit and are not a solution for achieving the much needed financial independence. If you can invest only 1, dollars, you can't earn much by owning stocks and bonds.
This is why in less wealthy countries people tend to look for alternative opportunities to multiply their money at much faster rates. This is where leverage comes into play. The forex brokers will only require a margin deposit that covers the potential loss of your operation, instead of charging the full amount traded. For example, an operation that uses a leverage of 1: This means that a deposit of dollars will allow you to buy Euros worth 10, dollars if you are trading using 1: This is why the brokers give leverage to their traders.
The brokers make more money when their clients trade large volumes , because their commissions are proportional to the volumes traded. Because of that, the brokers want to give their clients the chance to trade larger amounts, as long as they can cover their potential losses with their margin balance. Based on historical volatility for various currency pairs, forex brokers have determined what are the leverage ratios that are safe to provide for their clients.
Most forex brokers offer at least 1: This is because they want even their smaller clients to trader high volumes. By using leverage, a trader can decide how much he wants to risk and how much the potential profit will be.
You can double your money in a single day, but you can also lose your entire balance in the same amount of time if you use excessive leverage. Nigerian traders are using leverage to their advantage, because they can aim for higher profits without having to deposit large amounts of money. Because of high leverage, forex trading is accessible to everyone, as you can deposit amounts as low as 10 dollars and experiment with the broker's platform and learn how to become a better trader.
Many Nigerians have started with low amounts and once they mastered forex trading they increased the stakes to increase their profits. High leverage brokers offer an unprecedented opportunity for Nigerians to trade on the forex market even if they lack the money to finance large forex trades. A mobile phone with an internet connection and as low as 10 dollars are enough to test the forex market nowadays.
In order to trade on the forex market, Nigerians need to choose a broker. Currently there are no forex brokers based in Nigeria, but this didn't reduce the appetite of Nigerians for trading forex, as all the major international forex brokers accept traders from Nigeria.
This gives Nigerians a wide range of options when it comes to the broker they want to use. Going with one of the highest rated forex brokers in the world will be a natural choice for most people. Here are some of the most sought after features of forex brokers by Nigerian traders:.
Some of the major forex brokers are actively targeting the Nigerian market and have a large number of clients from Nigeria. Current data shows that the following brokers have the largest number of Nigerian traders, meaning they are the most popular forex brokers in Nigeria:. All of them are very high rated brokers, which shows again that Nigerians have done their due diligence when it comes to selecting a broker and are trading with some of the best companies in the world.
Forex trading is getting very popular in Nigeria with thousands of new traders joining the ranks every month. A combination of mobile trading platforms, high leverage and low minimum deposit requirements have made the forex market accessible to everyone.
A mobile phone connected to the internet and as low as 10 dollars are enough to get someone started into forex trading, so it is no surprise that as more people find out about forex trading, the number of traders grows as well. Choosing a forex broker can be a very daunting task because the number of available options is overwhelming. With so many brokers advertising themselves as being the best, people go to specialized websites to read reviews and see broker rankings hoping they will find which broker is their best choice A lot of traders think that a big broker is better than a smaller one because a larger company has many advantages such as economies of scale, a better liquidity position and is the subject of higher scrutiny from the public and the regulators.
While this basic assumption has some merit Since there is a lot of confusion among retail traders about the overall quality of forex brokers, we have decided to create an advanced rating system and evaluate all the major forex brokers in the world according to the same set of criteria.
A mobile phone with an internet connection and as low as 10 dollars are enough to test the forex market nowadays. Nigeria Trading School, October timetable.
What type of trader are you? Since there is a lot of confusion among retail traders about the overall quality of forex brokers, we have decided to create an advanced rating system and evaluate all the major forex brokers in the world according to the same set of criteria.