Best forex brokers for nigerians

Best forex brokers for nigeriansList of the best forex brokers for Nigerians

List of the best forex brokers for Nigerians:

Weve decided to make a new list of forex brokers for Nigerians especially for beginners in forex trading

Below is an ordered list of forex brokers for Nigerians who plan to either begin trading the forex market or are already professionals in forex trading but has decided to swap brokers.

 Basically, these forex brokers are currently the top performers when it comes to flexibility of trading, payment processing, customer support and friendliness mainly for Nigerians and other supported countries.

Sunday, July 14, 2013

List of the best forex brokers for Nigerians

List of the best forex brokers for Nigerians:

We've decided to make a new list of forex brokers for Nigerians especially for beginners in forex trading.

Below is an ordered list of forex brokers for Nigerians who plan to either begin trading the forex market or are already professionals in forex trading but has decided to swap brokers.

Basically, these forex brokers are currently the top performers when it comes to flexibility of trading, payment processing, customer support and friendliness mainly for Nigerians and other supported countries.

Liteforex Nigeria is my #1 recommended forex broker for Nigerians.

Liteforex is one of the major forex brokers for Nigerians and everyone else who wish to start forex trading or looking for a better broker.

Liteforex presents Nigerians with an easy way to trade the forex market. With liteforex, you can easily manage your forex account, trade major currencies, and best of all, make profits!

Amazingly, live forex trading at liteforex can start with as low as $1. This is does not mean that you could use one dollar to make millions - definitely No!

It only allows beginners to maximize and practice their trading with much lower risks.

As you may have known, liteforex has a branch in Nigeria making it the most popular forex broker in Nigeria.

With liteforex, you will never have a payment problem as they accept most online payment processors available to us here in Nigeria.

This includes local withdrawal to your savings or current account in Nigeria, Payza, Webmoney, Bank wire/transfer e. t.c.

You can easily fund and withdraw from your liteforex account at any time.

Their support is also fantastic with prompt responses to all the questions you may have.

The Meta4 trader offered by liteforex is a simple one with quick access to all your trading accounts.

Remember, they have a 24/7 live support that can always assist you even if you're confused.

So, don't hesitate to click on the live chat button on their website if you find any difficulties.

Instaforex is an Asian based forex broker.

It ranks #2 in my listings for forex brokers Nigerians trade with. I call Instaforex the "Promo Forex broker". Each time, i visit the Instaforex website, they are always on promos and contest for its clients.

Major Nigerian payment processors are also accepted at Instaforex. Their trading platform is also nice and flexible, suitable for any grade of forex trader.

AGEA(Marketiva): I was pretty amazed when i realized that the popularity of Nigerians using AGEA as forex broker is rapidly increasing.

I know this will probably be due to the simplicity of AGEA's Streamster trading platform including smooth transactions with the company. Like liteforex, you can start off trading with as little as $1 in order to minimize risks.

Support is also prompt, friendly and easy to access even from your Streamster trading terminal! Read more about AGEA(Marketiva): AGEA(Marketiva) Review

Please stay tuned for more brokers as this post is constantly Updated

The reality of forex trading in nigeria

The reality of forex trading in nigeriaAdvertising

Forex trading started in Nigeria around 2004. It wasnt initially embraced by Nigerians back then, mostly because Nigerians prefer doing tangible business and moreover the infrastructure (internet connection and electricity) was relatively poor.

The emergence of Ponzi schemes by some unregulated financial institutions gave forex trading massive popularity! These financial institutions accepted funds from investors with the promise of giving a monthly return on investment to the tune of 8.3%. This was huge. Most investors diverted their investments from the banks to these Ponzi schemes which were making waves in the country.

Nigerians marveled at the returns and discovered upon investigation that those funds running into billions of dollars were actively trading in the forex market. Kabum! Nigerians (mostly retail traders) decided to take the bull by the horn and launched deep into unknown and untested terrain. The result was massive failure .

Discovering this trend, the first group of people who got their fingers burnt trading, turned into trainers and also brought about an influx of foreign forex brokers in Nigeria. For example Alpari, Liteforex, Instaforex and many others. The influx of foreign brokers also helped in popularising forex because they embarked in a national campaign, going into various cities, educating investors and on-boarding clients in thousands. Another factor that contributed to this wave was that Nigerians did not need to pay huge bank charges in moving their money to offshore brokers as they already have several here.

This wave peaked in 2010 and suddenly there was a gradual withdrawal of traders from the business because of the unprecedented loss and confidence in the business waned gradually. The crash of the local stock market was also a contributing factor as liquidity dried up in the financial system.

To be candid, the statistics of about 500,000 traders in Nigeria being pelted on the internet is not bloated. We likely had more! But this number has dwindled over the years due to monumental loss suffered by traders to the extent that 30% of those figure actively trading can’t be guaranteed.

The Association of On Line Forex Trading Agents, a group of On Line Foreign Currency trading brokers in Nigeria has started the initiation to restore lost confidence by engaging various government agencies to see to the regulation of the business.

Their plea is already getting the required attention as some of its representatives were invited by joint team of SEC (Securities and Exchange Commission) and CBN (Central Bank of Nigeria) for a meeting on how FX trading can be regulated in Nigeria. We strongly believe that the market will take a new shape, attracting institutional players when the government regulates the industry.

Nairaland forum

Nairaland forumForex Brokers In Nigeria - Business - Nairaland

I've been trading forex on demo for some months and now I'm looking to find a broker that's serves Nigerians with an easy and direct means of deposit and withdrawing funds and no hanky panky in trading through them.

IRIENBOY: Use xm, deposit and withdraw with mastercard, visa etc. Can one withdraw and deposit directly using atm cards(visa. mastercard) issued by Nigerian banks? If yes what's the processing time and costs per transaction?

dexed: I've been trading forex on demo for some months and now I'm looking to find a broker that's serves Nigerians with an easy and direct means of deposit and withdrawing funds and no hanky panky in trading through them.

I've searched through the internet, most of the info I've been getting aren't straight forward, explanatory enough or not meant directly for Nigerians.

Pls forex traders, review the various brokers you've used or you're currently using, so there can be concise info for anyone seeking a broker here in Nigeria. I would advise you use instaforex.

They are a reliable and international forex broker with over a million clients. They also have thousands of clients in Nigeria.

Have been trading with them for over 2 years now and everything have been fine.

With instaforex, you don't need any mastercard or dormicilliary account,

as they have local agents and exchangers in Nigeria where you can easily deposit and withdraw funds on your account.

instaforex ngr:

I would advise you use instaforex.

They are a reliable and international forex broker with over a million clients. They also have thousands of clients in Nigeria.

Best Forex Trading Platform In Nigeria - Business - Nairaland

I'm about to start trading in Forex and just want to seek your candid opinion on the best trading platform in Nigeria. I am actually based in the US, but a friend told me to open an account from Nigeria to avoid paying tax. Hope to get some insightful responses.

Well, there are quite a number of Fx Brokers in Nigeria. Of all, I use Alpari and recommend it. I use Alpari for zulutrade, there are other services you will enjoy with Alpari. Alpari's link on my blog at MYZULUTRADER. WORDPRESS where I teach interested individuals for FREE on How To Use Zulutrade.

If there is any personal questions you would like to ask me, reach me via plentygrazeyahoo. co. uk

I'm amazed that in the last few years Nigerians haven't woken up and seen the scam Alpari had been screwing traders with. I'd traded with them and lost over 20k Sterling and my brother who introduced me in2 FX trading 5 yrs ago must have lost around 250k Dollars.

Why, 'cos they a'int an ECN (ECN (Electronic Communication Network) where customers can trade on prices streamed by multiple large banks and prime brokers. They manipulate quotes, simple as that.

Myself and a group of friends are gathering enough evidence to take to the regulators here in d UK and sue their ass, ''watch this space'',

So, for u guys stil trading with Alpari, close ur a/c's and go find a decent ECN broker (fxcm, Dukoscopy (for large Classic a/c's ) or Saxobank. They're out there, u gats 2 just open ur eyes and don't jump into FX trading 'cos everyone else does it. I learnt my lessons and making a good living off trading nw.

Free forex virtual trading

Free forex virtual tradingforex virtual trading Autopilot Robot

forex virtual trading

forex virtual trading

Non expiring forex present accounts for straight-out use Risk rid trading with 100 000 practical finances tractableness to open multiple demo accounts Trading practical swop allows you to practice trading. The Investopedia FXtrader is a rid Forex trading simulator that allows you t.

forex virtual trading

forex virtual trading

Win money for real accounts.

Options stocks and futures without the peril whatsoever stock options futures or forex symbols displayed are for illustrative.

The world's almost popular virtual FX trading Compete with 5 1000000 euros and improve your trading skills at no risk.

Have experience steal and sell prices 50K of forex virtual trading virtual money and access to trading twenty-four 5. Open an FXCM forex demo account and online virtual forex trading use forex trading run a risk free. Use FREE forex trading victimization our release forex forex virtual trading game charts victimization our virtual well-worn market game.

The best virtual stock trade sites for abeginner

The best virtual stock trade sites for abeginnerOther People Are Reading

Making Investment Easy

Wall Street Survivor makes an effort to demystify stock trading for beginners. You can register for free and open a virtual trading account with $100,000 in fake cash, then invest in real companies operating under real market conditions. Your trades are processed in real time. OptionsExpress, which is part of the Charles Schwab Corporation, offers a virtual trading account with $25,000 in virtual currency to trade stocks, options and futures. Not all well-known trading websites offer virtual trading tools. For example, you can only open real trading accounts with real money on E*Trade and TradeKing, according to Stock Trading Showdown.

Downloading Desktop Platforms

To turn your computer into a powerful investment platform and feel like youre perched on a trading floor, download thinkorswims thinkDesktop. The system enables you to monitor and trade stocks, options and foreign currencies with either fake or real money. As a beginner, youre given two paperMoney accounts a virtual margin account and a virtual IRA each funded with $100,000 of fake cash. The platform also streams live stock quotes and CNBC plus. Thinkorswim is integrated into TD Americatrades financial network.

The best virtual stock trading websites pair educational resources and courses on investing with the virtual trading platform. For example, OptionsXpress has 100 web-based courses and over two dozen trading applications. Wall Street Survivor offers a plethora of courses, videos and articles. If you want to learn how to swim and not sink in the stock market, you can tune into thinkorswims Swim Lessons, which are daily interactive online broadcasts hosted by experienced traders. These three-hour broadcasts provide demonstrations on how to use the trading platform as well as detailed explanations of trading strategies.

Playing Market Games

Competing against peers or friends in a virtual stock market game adds a level of fun to learning how to trade. In TD Banks Fantasy Stock Market game, each player is given $100,000 in fake cash to trade any of the stocks on a variety of U. S. equity exchanges, including the New York, American, and NASDAQ exchanges. The game tracks the performance of your portfolio and ranks the players. Once you register, you can immediately leap into the game and begin trading. Wall Street Survivor also offers stock market games to help you hone your trading skills. The website has implemented a rewards system, so you can win badges and virtual cash.

Top10forex-s top10forex trading sites list of top forex trading sites

Top10forex-s top10forex trading sites list of top forex trading sitesTop10Forexs Top 10 Forex Trading Sites. List of Top Forex Trading Sites

Forex Factory

This is a forex site which comes along with a predominant forex forum along with a better calendar. Additionally they have a wonderful section that provides updates on the news section for Forex

FXStreet is a broker who is providing its services featured in multiple languages along with regular outlooks. They do provide aggregated forecasts on the weekly updates and previews for the big events on forex services.

Bankroll boost-top online poker sites

Bankroll boost-top online poker sitesBankroll Boost - Top Online Poker Sites

Top Online Poker Sites

If you haven't checked out any one of our Top 10 sites . then you should at least download it and give it a try. Learn why these have been chosen and see the full list of Top Online Poker Sites . many of which include casinos for usa players .

Free Poker Bankroll

Poker Videos

Poker Blog Latest

Philadelphia’s Joe McKeehen and New Jersey’s Josh Beckley both play poker for a living and inevitably end up playing a number of the same tournaments on the east coast. These two poker pros entered the 2015 WSOP Main Event in May 2015 after shelling out $10,000 as part of the buy-in fee and dreamt of [. ]

Virtual trader uk slargest investment game

Virtual trader uk slargest investment gameVirtual Trader: UK's Largest Investment Game

Join Virtual Trader and Master the Stock Market! Trade stocks and manage your own portfolio. Create your portfolio now .

Join the competition

Play against hundreds of other players in the overall competition, or create your own league and compete against your friends. Create your own league .

Win great prizes!

Each month the best player wins great prizes. Didn't win last month? Give it another try! You can win year-round. View the prizes .

Virtual Trader University

Futures and options virtual trading account-nse paathshaala(indian stock market)

Futures and options virtual trading account-nse paathshaala(indian stock market)Futures and Options Virtual Trading Account - NSE Paathshaala (Indian Stock Market)

Futures and Options Virtual Trading Account - NSE Paathshaala (Indian Stock Market)

NSE now offers a free virtual trading and investment interface for investors and traders to try out their trading strategies in real time market values.

Its called NSE Paathshaala. Use the below link. Register for free and you can start virtual trading.

You are given 5 Lakhs limit to play around with.

The portal uses NSE Now which is used by Zerodha. The interface will be pretty similar to Zerodha interface.

For beginners, its suggested to try out virtual trading before you start with your hard earned money

Watch the below video to understand basics of Options Trading,

Top10forex currency trading sites list of best forex trading sites

Top10forex currency trading sites list of best forex trading sitesTop 10 Forex Currency Trading Sites: List of Best Forex trading sites

As the name of our website suggests, we have one aim and that is to present to all of our website visitors the Top 10 Forex Broker Sites . all of which are going to offer you the highest levels of service, give you access to the largest number of Forex Pairings and trading opportunities and also present to you those Brokers who offer the most up to date and advanced online and mobile Forex Trading Platforms.

Unlike other Forex related websites we offer you a range of trading articles and Forex trading guides instead of just listing a range of Forex Brokers!

We also much prefer quality over quantity and as such we only have selected to showcase to you the very best Forex Brokers, all of whom we have fully put to the test ourselves to enable us to guarantee to you that they will surpass your expectations.

How to play virtual stock games

How to play virtual stock gamesOther People Are Reading

Platform Variations

Some brokerages have virtual platforms that allow clients to practice stock trading prior to engaging in real-world transactions. For beginning investors who have no broker, other online sites concentrate solely on virtual trading and allow participants to play free. Follow the online directions to register on the platform you choose.

Beginning Play

The site will give you a specific amount of virtual money to invest, but may limit the total number of trades. For example, some games will restrict players to a set number of trades per day. Others have no limit and allow you to trade at-will. This works well if you want to practice day trading.

Many virtual stock games use actual market prices, and game trades are made at current market prices. Players must follow the online directions to buy and sell stocks for their virtual portfolio. With no real money on the line, some just pick stocks at random and learn as they go. Others will pick stocks familiar to them and see how they play out. For example, you could build a virtual portfolio of stores you regularly shop at or companies that produce your favorite products.

Claiming Victory

To win in the virtual world requires the same knowledge and strategies that work in real investing. Most mock stock trading games determine winners by which competitors hold the most valuable portfolios in virtual dollars at the end of the game period. Others determine a winner by who beats a particular real-world stock index by the highest percentage.

Opposing Strategies

Strategies in the virtual game are about the same as they are in the real world. For instance, there's no rule saying you can't put all of your stocks in one industry, such as energy companies. However, if that industry loses economic power during your game, your entire portfolio will take a serious hit. Spreading the risk by investing in multiple industries is a proven investment strategy. A completely opposite strategy is to simulate day trading. This equates to speculating in stocks, buying and selling within one trading day, and investing large amounts to capitalize on small fluctuations in share prices. Regardless of your strategy, start paying attention to financial news sources. When you find a few you trust, keep up with them and their advice on stocks you might want to buy or sell.

Brokers with virtual stock trading tools

Brokers with virtual stock trading toolsBrokers With Virtual Stock Trading Tools


Try Virtual Stock Trading Before Putting Money On The Line

When it comes to learning the ropes on the open market, there is no better way to learn about trading than by actually executing some trades. What’s nice is that more and more brokers are offering virtual trading platforms that allow you to make trades with play money, giving you the opportunity to see your trading strategy in action before you risk your hard earned money. It's an environment that allows you to adjust your trades where necessary. While online brokers are well known for offering such a service, some full service brokers are starting to come around and offer them as well. Here are some things you should be on the lookout for when looking for a broker with a virtual trading platform:

Paper trading platforms are truly helpful tools for traders of all types; however, it is almost a necessity for novice traders. Many traders find that having a practice platform gives them a huge advantage over the competition when it comes to strategy development and adjustment. Virtual trading environments also allow traders to find the right trading vehicles and to develop their own personal trading profiles, which are important requirements for trading success. So when deciding which broker would be a fit for your requirements, look into those brokerages that offer virtual trading as part of their suite of trading tools, and reap the benefits of risk free trading.

Virtual stock trading for kids

Virtual stock trading for kidsVirtual Stock Trading for Kids

Are you looking for ways to teach kids about how the stock market works? Ive found a couple of stock trading games for kids that will simulate real-life trading and give kids a sense of what its like to invest in the real stock market.

Create public or private games with a cash balance you set

Choose from thousands of available games

Test your strategy with a personal portfolio

Leverage powerful news and research resources from MarketWatch

Their virtual stock exchange allows you to practice buying and selling real stocks using imaginary money for the purpose of gaining experience with stock trading. This is also known as paper trading or fantasy trading.

Recommended book for further investing instruction:

Forex trading part1-how to trade forex using virtual forex

Forex trading part1-how to trade forex using virtual forexFOREX Trading Part 1 - How to Trade FOREX Using Virtual FOREX

F OREX is a shortened term meaning "Foreign Exchange." Another common abbreviation is "FX." FOREX in itself simply means the buying and selling of currencies. It's the largest financial market in the world. With a daily trading volume over $1.5 trillion, it dwarfs even the daily trading volume on the NYSE.

I n this video series, you will be introduced the FOREX markets. The topics covered include brokers, charts, indicators, trading systems, options and futures.

Y ou will learn the basics of FOREX trading, how to spot market trends using charts and indicators, and learn about trading systems. In the first part of this video series you can find out how and where you can open a demo or "dummy" trading account with 50K in virtual equity and start trading a "virtual" FOREX market.

Replicate turtle trading by creating virtual trade functionality

Replicate turtle trading by creating virtual trade functionalityReplicate Turtle Trading by Creating Virtual Trade Functionality

My next little project is to create an EasyLanguage extender by creating a virtual trading function. The Turtle System always waits until a losing trade prior to taking a new trade. In EasyLanguage this doesnt exist. This is similar to my Ghost Trader in Building Winning Trading Systems with TradeStation (1st and 2nd edition.)

In order to virtualize theoretical positions you must have the ability to enter/exit long/short positions. To carry this out we will create four functions:

Information will need to be passed back and forth between the call program and the functions. Here is the template of the virtualBuy: