Tag
FOREX TRADING
The currency market rewards the skilled and the self-disciplined.
The thing about the forex market is that it is highly interesting and also highly lucrative. However, it can also be pretty volatile, which means that you need to know what you're doing if you want to participate in this market.
Currency traders have attributed the persistent weakening of the naira and the volatility of the foreign exchange market to the lack of consistency in dollar allocation to the Bureau De Change (BDC) operators by the Central Bank of Nigeria (CBN).
Most inexperienced Forex traders lose over 90% of their money before giving up.
Bank traders account for 92% of all Forex trading activity.
Online forex trading remains an unregulated activity in Nigeria. Safety must be your watchword when choosing a forex broker. We discuss only those forex brokers with strong oversea regulations and a reputation free of scandals & market malpractice.
The most successful traders refine their abilities through practice and discipline.
The FMDQ where forex is traded officially has implemented a +/-5% band around the previous day NAFEX while also caping bid/offer spread to N50.
Forex trading, the world's largest financial market, offers FX traders numerous opportunities to profit from currency fluctuations.
Trading shouldn’t begin if the trader does not have a basic understanding of the markets and a constant analysis of the ever-changing market environment.
Forex trading is becoming increasingly popular around the world, with more traders joining every day, and it is no news that HFM, formerly known as HotForex, has grown over the years to be the leading online trading platform and the number one Forex broker in Nigeria.
Forex trading may appear similar to gambling, but there are key differences. While gambling relies on chance and randomness, forex traders can use strategies and tools to tilt the odds in their favour.