How to start forex trading in Nigeria is the first question that comes to the mind of anybody that wants to venture into the world of forex.
Some years back, I equally asked the same question. So I know exactly where you are standing now.
But the sad thing is that most answers to this question found online do not help them, because the answers are mainly from information marketers.
These Information marketers are interested in selling one thing or the other to these potential forex traders. And that usually leaves a lot of newcomers to forex trading frustrated and hopeless.
If you are a newcomer to the world of forex and seeking the right answer to the question how to start forex trading in Nigeria, then you are lucky to be here because you will learn from a real-time forex trader.
Before going into detail of this forex trading for beginners, I will like to change your perception about forex trading. Due to how forex is crazily advertised, a lot of people come to it with the hope of making money easily.
If you have such thinking then Forex trading is not for you. Really, you can make money fast with forex but you can lose all you have in life faster trading forex.
So, I hope you are searching for how to start forex trading in Nigeria with the mind of starting a carrier that will lead you for the rest of your life.
If so, then be ready to learn and learn overtime before earning. Forex trading is not a get rich quick program and it is not for anyone that is desperately in need of cash for an urgent solution.
How to Start Forex Trading in Nigeria – proper
The first thing to do is to acquire the right forex trading knowledge. In other words, you need a comprehensive forex trading training from an expert. By saying an expert I mean learning how to trade from a forex trader.
Sadly, most forex trainers found in Nigeria are only interested in selling an indicator, ebook, or robot to newcomers. Therefore, I cannot authoritatively recommend any forex trading trainer in Nigeria for you.
But that does not mean all hope is lost. If you are totally new to the world of forex, then I did recommend you take a free forex trading training from babypips.com.
Babypips is known for containing free comprehensive forex training worth thousands of dollars. Yes, everything is free and it has helped a lot of traders start forex trading on the right foot.
In fact, I equally used babypips.com some years ago when I started. Therefore, don’t spend a dime on learning how to start forex trading in Nigeria if you are totally new.
But if you are an intermediate or a struggling forex trader then you need a one on one coaching from an expert. For your notice, reliable forex education is very expensive but it worth it because once you get it right you will make back your money a hundred folds.
For a comprehensive forex trading training contact me on 07033680227 or use the contact us link above.
You Need a Broker
After going through training and you strongly believe you have acquired the needed knowledge, it is time to start trading.
You need a broker to start trading forex. In fact, you need a reliable broker who is customer friendly to start trading. Before then, who is a forex broker?
Who is a Forex Broker?
A forex broker is a company that provides traders with a platform on which they can execute trades at real-time. In other words, a broker is whom you will hand over your money to, which means you need a reputable one at that.
The platform a broker provides is called meta trader. The best for a beginner is MT4 or metatrader4. This and many other things to help you out are provided by the broker
In Nigeria, there are more than 50 so-called brokers, but I have done my underground work to get the best among them.
Click here to know the best forex brokers in Nigeria.
After picking the right broker, the next step is to fund your account. Every broker has a way to fund your account on their web page. So do the research to know how to fund your account from the broker’s webpage.
I strongly advise newcomers searching for how to start forex trading in Nigeria to start with brokers that have full presence in Nigeria. This is because you can easily fund your account in Naira
How to Start Forex Trading in Nigeria –Trading Proper
After funding your account it is time to start trading proper. Successful forex traders have a reliable forex strategy. Therefore, before now you must have developed a particular strategy that works for you.
There are thousands of forex trading strategies out there, it is up to you to chose and study a particular one that works for you.
By now it is obvious you are reading to know which forex trading strategy I recommend. If it is what you are expecting, I have good news for you.
I personally trade and recommend a price action trading strategy. This strategy means you will not bother trading with robot, EAs’ or indicator.
You will only master the language of the forex chart. It is also known as naked trading, and it will interest you to know that most successful forex traders trade this strategy.
Click Here for detailed forex strategy training
Some of the forex chart languages you will learn if you are to trade this strategy are:
- Bullish engulfing pattern
- Bearish engulfing pattern
- Double tweezer top
- Dark cloud cover and many more
Once more, if you need a comprehensive guide on price action or on how to start forex trading in Nigeria contact me on 07033680227. It goes for $150.
My one on one coaching is $1k. If it is expensive, don’t go for the cheaper ones that will end up frustrating you. Rather, wait and save and invest for the best that will help you throughout your lifetime.
With this post, it is obvious that your question of how to start forex trading in Nigeria has been answered. I can’t drop my pen without reminding you that forex is not as easy as you may think.
It is not a way to make money fast. It is business as such you must approach it as one. This means you need a mentor, capital, patience, and courage to hang on over a long time.
Reliable forex mentors are very expensive because they make money trading forex not selling information.
Just imagine it, a person promises to teach you how to make millions of Naira from forex for just 10K. How real would such offer be?
Anyway, you are welcome to the world of forex trading where tenacity meets riches.