How can I trade forex in Nigeria?

Who is the best forex trader in Nigeria?

7 Best Forex Traders in Nigeria

  • Overview. …
  • Uche Paragon. …
  • Ajidahun Afioluwa. …
  • Blessing Ezeako. …
  • Sandile Shezi. …
  • Patrick Ogagbor. …
  • Benjamin Ilesani Ajimoko. …
  • Chinedu Onuoha.

How much do forex traders make a day in Nigeria?

A recent report released by Dailyfx (a forex research firm) in 2020, stated that Nigeria’s forex traders trade currency positions worth as much as $1.25 million on average, daily.

Which app is best for forex trading in Nigeria?

8 Best Forex Trading Apps in Nigeria 2021

  • AvaTrade – Best Forex Trading App.
  • HotForex – Best App for Forex Analysis.
  • XM – Fastest Execution Speed.
  • FBS – Highest Leverage Mobile Trading.
  • IC Markets – Best cTrader Mobile Experience.
  • markets.com – Most Instruments to Trade in an App.
  • XTB – Best Regulated Trading App.

Where can I learn forex in Nigeria?

In fact, there is no shortage of forex trade training institutes in Nigeria.

Here’s a list of the best forex training schools in Nigeria:

  • Oasis International School in Lagos.
  • Aplus Forex Training Hub.
  • Revglobal Forex Academy.
  • Global Forex Trading Institute.
  • ProTraders Academy based in Ikeja.
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Can I learn forex on my own?

Self-education. Individual study is the first and the most accessible way to learn to trade the forex market. This type of training implies that you have to go by yourself all the way, from the very beginning to the end.

Is Forex banned in Nigeria?

The Central Bank of Nigeria (CBN) says it has ended the sales of forex to Bureau De Change operators. CBN governor Godwin Emefiele announced the ban in a live TV broadcast after the bank has retained its benchmark policy rate. … All banks are to immeidtaely create dedicated tellers for the same purpose.

How can I make money with forex in Nigeria?

Get Started with Forex in Nigeria

  1. Get an online connection. You can get connected to a forex broker through any online device, but it’s usually good to trade primarily from a home office. …
  2. Pick a reputable broker. …
  3. Open your account. …
  4. Fund yourself. …
  5. Install your trading platform. …
  6. Profit.

Is Forex Trading in Nigeria profitable?

For Nigerian Investors, forex trading can be a way to earn wealth. … You may be attracted to forex trading because it offers opportunities/potential to make good profits in less time (minutes & hours instead of months) with your investment.

Which country has the most forex traders in Africa?

This can be attributed to the advent of mobile devices and other technologies. There are about 1.3 million Forex traders in Africa. South Africa and Nigeria lead the way as both countries constitute a large percentage of the total figure.

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Does MetaTrader 4 work in Nigeria?

You can trade on the MetaTrader 4 or Metatrader 5 platforms, both of which are the most widely used trading platforms in the world. Hotforex also offers local bank withdraw and deposit methods for Nigerian traders, and there are many wallet options as well.

Which trading platform is best in Nigeria?

Pepperstone just made it to the list in fifth place.

Broker Score
#1 XTB 4.8
#2 Capital.com 4.7
#3 ActivTrades 4.6
#4 Tickmill 4.5

Why did etoro leave Nigeria?

“From time to time, as a global business, we need to review and update the countries from which we can service clients in line with regulatory requirements and risk management considerations. For this reason, we will no longer be providing our services to clients in Nigeria.

Which forex trading platform is best for beginners?

The Best Forex Trading Platforms for Beginners

  • Plus500 – WebTrader.
  • IG – IG web platform.
  • eToro – eToro CopyTrader.
  • AvaTrade – AvaTrade WebTrader.
  • CMC Markets – Next Generation.
  • XTB – xStation 5.
  • OANDA – fxTrade.