Forex Trading in Nigeria

Nigeria has seen a tremendous growth in Forex trading, which is evident in the growing number of people seen in Nigeria who are now getting involved in the business.

They come from all classes: middle class, Nigerians in Diaspora, college students as well as foreign investors clamoring for new investment grounds. Asides this, we see a big spike in the number of people who are looking for information about forex trading, this is because it's a highly lucrative market when the trend goes in your favor.

What can I do with online Forex Trading in Nigeria?

There’s so much anyone can achieve from online forex trading in Nigeria, coupled with the high unemployment in the country, you can make good alternative income from trading currencies online.

The sweet part is the fact that your income could either be in US dollars, Euro or sometimes in the Pound Sterling. This is by far one of the quickest ways of making money online, even in your pajamas.

 

How do I start forex trading?

Starting forex trading is not as difficult as people imagine it to be. With a start-up capital of say $200, a micro account with FXOpen, a trading terminal from the aforementioned, you can begin trading to get grounded in the process. Another option is a risk-free Demo account.

 

How do I get a forex trading account?

Getting a forex trading account in Nigeria is easy, you are required to sign up with a forex brokerage firm who would invariably allow you access into the world of currency trading. By so doing, you’ll be able to buy and sell forex online and earn profit from the price movement.

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How do I monitor my Forex account online?

Monitoring your forex account is done via the aid of an internet ready computer that gives you access to the broker’s trading platform, thus allowing you get connected to the live stream.

 

How do I add money to my Forex account?

Adding money to your brokerage account is dependent on what your broker accepts. Some brokerage firm would accept Liberty Reserve, while others would accept some other forms of e-currency and bank transfers for some.

At FXOpen we accept Credit/Debit card transactions via Allied Wallet, WebMoney, Perfect Money, Skrill, Neteller, Moneybookers, China Union Pay, e-payments, wire transfers and more.

 

How do I receive my money?

In Nigeria, you can receive your money mostly via the method that was used in depositing it into your trading account. Although, you’ll have to check in with the e-currency method to know if Nigeria is listed on their list of accepted countries.

Most importantly, you can always receive your money via bank wire transfer. You’ll have to open a domiciliary account from your Nigerian bank, and this process entails that you show your proof of identification which could be a national ID, driver’s license, or even an international passport.

Posted by January 4th, 2018