How to start forex trading in Nigeria


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Posted by Felix Okoli on April 15, 2008 at 22:43:42:



There's a lot of interest and publicity now being generated about forex trading in almost every city in Nigeria. How trading in forex could itself become a successful kind of business, but what does it really take to start making money in this sort of trade? Is it just sufficient to attend a forex trading seminar and hope to be succesful? I just want to share a few tips for those who may be interested in investing in this sector. Here are a few things you need to do before starting:

1. Sign up for a forex trading account online.
2. Open a domicilliary account to fund your account.
3. Try a forex demo with your account and learn how to trade.
4. Know when you break even and when to stop buying.
5. Be informed. Global trends tend to push up and pull down prices. Read Local and foreign news.
6. Have a personal 24 hour internet service with an ISP like Multilinks, Starcomms or MTN

If you are at least literate, it doesn't take much to learn how to trade forex online wherever you are in the world. It's like the Nigerian stock market, buy when low and sell when high. You may even buy when high in cases of positive future prospects. To sign up for an account with a forex broking firm, you need to fund your account with a minimum of $100 and you could start trading with this.


Follow Ups:

  1. Re: How to start forex trading in Nigeria

    Posted by Nwankwo Gilbert on November 15, 2008 at 08:22:18:
    In Reply to: Re: How to start forex trading in Nigeria posted by Ifeanyi Okafor on April 19, 2008 at 19:05:14:

    I want to join forex trade


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