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Forums > General Talk > 1 article about beginner's forex trading! Learn to trade forex in 3 mins.
goon2019


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Subject : 1 article about beginner's forex trading! Learn to trade forex in 3 mins.
1 article about beginner's forex trading! Learn to trade forex in 3 mins.

Investor needs to think how to choose a good broker before starting to invest. The quality of a broker will affect the quality of investor' daily trading. A legal broker can become a good long-term trading partner of investor, while an illegal broker can make an investor' property disappear overnight.To get more news about learn forex trading, you can visit wikifx news official website.
Every forex broker runs forex business in Nigeria with the thepermission ofthe Central Bankof Nigeria(CBN). Therefore, investor should consider to choose firstly the forex brokers regulated by CBN for capital security.
Abstract: As a newbie in forex market, what should you pay attention to?
Investor needs to think how to choose a good broker before starting to invest. The quality of a broker will affect the quality of investor' daily trading. A legal broker can become a good long-term trading partner of investor, while an illegal broker can make an investor' property disappear overnight.
Every forex broker runs forex business in Nigeria with the thepermission ofthe Central Bankof Nigeria(CBN). Therefore, investor should consider to choose firstly the forex brokers regulated by CBN for capital security.As we all know, US dollar is the settlement currency of forex trading, namely, forex trade is generally made in US dollar. So most forex brokers provide the USD-based trading accounts for their users. However, in Nigeria's forex market, the local investors may want to use a trading account based on local currency.
Regarding this situation, CBN provide Naira-based accounts specifically for Nigerian investors. Having an account based on local currency has several advantages, especially it can protect investors from the rapid changes in exchange rates. For example, an investor has to convert the money in his account from US dollar to Naira, and at the same time, the dollar suddenly rises sharply. The Investor may end up getting less Nairas than he expects. If the forex brokers who are supervised by CBN provide Naira-based accounts , they will benefit a lot from it.
The most messages that WikiFX received from Facebook are focused on which one broker can be trusted and whether it is regulated or not. The following are some brokers which are regulated by CBN and attached with official score from WikiFX App as a reference.(The score in WikiFX App only represents the current performance of brokers . The score will change according to brokers‘ real performance. For the safety of your investment, please pay attention to the brokers’ score at all time.)

1: FOREX.com

2: FXTM

3: instaforex

4: HotForex

5:FXOpen

6: Alpari

Reminder: recently, there have been a large number of frauds pretending to be brokers on social media. Please be more vigilant.



Posted on April, 18 2020 02:06:06 PM

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