Making money through forex is possible like any other importing and exporting, marketing, programming, and stock trading.

Some rules can help you become a forex trader. This online forex trading platform has got its sights on expanding its customer base by targeting forex beginners. And, the answer is YES, you can make a living from trading forex.

But, it is not that easy, you need to be consistently doing a lot of things in the right way to become an effective and successful forex trader. Forex trading is also easy, if you are willing to dedicate the time and efforts into becoming a successful trader. As with any profession, forex trading is no different either. It will take time and, in many cases, it will take years before you can perfect the art of forex trading.

Forex trading may be profitable for hedge funds or unusually skilled currency traders, but for average retail traders, forex trading can lead to huge losses. By trading forex CFDs you will make a profit in pretty much the same way with the difference being that you trade CFDs with a margin. The forex trading industry — which now sees trillions of dollars worth of currencies change hands each and every day — has never been more accessible for the Average Joe. All that is required is an account with an online forex broker — of which there are hundreds.

But remember you will lose trades thats a given you need to learn to trade like a robot with no emotion and definitely not revenge trading. Still, if you are going to want to make more money with your trades, you are going to need more money. Each option comes with a free demo account that allows Nigerian traders to test out forex broker and platform for 30 days. Forex trading in India is legal if the base currency is INR.

A Forex trade that happens between two foreign currencies is considered illegal in India and Indian citizens are not allowed to trade foreign currencies overseas both directly and indirectly. The 1 Minute Daily Forex Trading Strategy is a scaling system used to trade the major currency pairs. One of the major advantages of this trading strategy would be that it uses two momentum indicators to determine the general direction for the day and the strength of the trend.

To gain access to Markets. Below shows the funding methods available with IC Markets. FP Markets is an ECN forex broker offering STP trading with tight spreads and fast execution speeds. Using MQL4 or MQL5, you can create your own trading robots for fully automated trading. Within the MetaTrader community, trading robots are known as Expert Advisors EAs. If you are a beginner trader and do not feel comfortable writing your own EAs, there are thousands of EAs available to download from the MetaTrader Marketplace online.

Yes , it is legally allowed to trade Forex within Indian Exchanges like BSE, NSE, MCX-SX. As per RBI guideline, all Indian resident including banks and financial institutions can do forex trading in currency pairs. The main currency pairs are USDINR, EURINR, GBPINR and JPYINR. What are the different ways to trade forex? Spot market — ways to trade forex.

This is the commonest of ways to trade forex for individual traders. There are always trading opportunities present on the 1-minute or 5-minute charts, and new setups arise as fast as old go. In fact, the art of trading is something that you will constantly be looking to improve upon. Beside this,How can I learn Forex trading?

Or where I can get proper training to learn Forex trading? There are plenty of websites, books , and other resources you can take advantage of to learn more about forex trading. As you may learn over time, nothing beats experience, and if you want to learn forex trading, experience is the best teacher. When you first start out, you can open a forex demo account and try out some dry-run trading. With that said, the best way to make money using forex is to adopt a swing trading strategy.

This gives you much more time to make trading decisions — as positions can remain open for weeks at a time. In particular, swing traders will place more of a focus on fundamental research in comparison to day traders or scalpers. Forex trading may be profitable for hedge funds or unusually skilled currency traders, but for average retail traders, forex trading can lead to huge losses.

By trading forex CFDs you will make a profit in pretty much the same way with the difference being that you trade CFDs with a margin. The forex trading industry — which now sees trillions of dollars worth of currencies change hands each and every day — has never been more accessible for the Average Joe. All that is required is an account with an online forex broker — of which there are hundreds. The best way to learn forex trading is to look at both of these separately, and then integrate them into a sound, logical and reasonable approach to trading.

Know The Bid-Ask Spread You Are Facing. The bid-ask spread is an important component of Forex trading. Becoming a forex trader is worth it as it can potentially bring profits and help you increase your wealth. Trading forex can also help you diversify your portfolio and make a name for yourself. Though becoming a forex trader is worthy, it requires a lot of education, dedication, and self-control to succeed.

Financial articles, stock market books, website tutorials, etc. Forex trading is when a trader buys one currency pair while at the same time selling another.

A currency pair is exactly what it sounds like. A pair of currency. Making a First Forex Trade — Step by Step. More items. Previously Forex was conducted by wealthier investors and larger firms, however, after online trading platforms emerged, making money in the Forex global market was made accessible to other retail investors and individual money traders.

Currency Trading Basics. All foreign exchange trades involve the simultaneous buying of one currency and the selling of another. Currency quotes are given as exchange rates; that is, the value or price of one currency relative to another. Four steps to making your first trade in forex. Select a currency pair. When trading forex you are exchanging the value of one currency for another. Research and analysis should be the foundation of your trading endeavors. Forex trading works like any other transaction where you are buying one asset using a currency.

In the case of forex, the market price tells a trader how much of one currency is required to purchase another. Trading is something that takes an extreme amount of patience, strategy, and of course education. It is not impossible to be successful, but you need to understand what you are getting yourself into.

Emmanuel Royal. I have been involved in some forex trading business before now and the experience wasn't palatable at all. But right now with cashFX the story ain't the same. They trade every working day, I get paid each Saturday. Whilst am also taking lectures to be an Ace trader soon. Thanks cashFX! My weekend hasn't been the same ever since. The growth of any viable venture has a lot to do with the management. In this case I say a big thank you to the entire cashFX team, not leaving out our own amiable team leader Queen Wiki, a rare Gem.

I thought it was every other online business that you invest your money but in less than two months you can't access the site again. Just like yesterday, I remembered vividly when Christy took out time and for close to two hours talked to me about this opportunity and something inside me said to give it a try. Ever since then my story has never been the same again. CashFX is a bomb. Because the people I told believed in it five of them came in through me.. CashFX for life. Livinus Bisong.

I've been into online business before now, but none of them is like CashFX. Since I joined CashFX my Saturday has not been the same.

Last Updated on November 20, by Patrick Mahinge. Forex trading has become a popular way to make money in Nigeria, and many people are looking for ways to learn how to do it. There are plenty of places where you can learn forex trading in Nigeria. In this definitive guide, we are going to discuss some of the most plausible ways to learn forex trading in Nigeria. Make sure you read to the end to learn of all the red flags that you should watch out when enrolling for a forex school in Nigeria.

There are a few reputable Forex trading schools in Nigeria that offer a variety of courses and programs to meet the needs of both beginners and experienced forex traders. Some of the best Forex trading schools in Nigeria include the following:. The best way to learn forex trading in Nigeria is by finding a successful forex trader to mentor you. There are successful forex traders like Uche Paragon who have started forex training academies in Nigeria. However, mentors are not the only way to learn forex trading in Nigeria.

There are several other ways you can use to learn forex trading in Nigeria including:. Learning from YouTube Channels 2. Free forex e-books that you can download from websites such as pdfdrive 3. Free online forex courses offered by forex brokers 4. This is assuming that you choose to learn forex from one of the many academies in the country. If you think that the forex course price in Lagos is high, just consider the alternative.

If you can afford it, we highly recommend that you sign up with a forex mentor in Nigeria. Com that can get you started. Also, professional forex traders including Adam Khoo and Ryner Teo have very informative videos on YouTube that you can use to learn.

The other way that you can use to learn forex trading in Nigeria without incurring any loses is by signing up for free online forex courses offered by forex brokers. One of the best free online courses is available at XM Forex. or be a rocket scientist to learn how to trade forex successfully in Nigeria. Some of the main ingredients are a burning desire to succeed and a lot of discipline. Online forex trading does not need not be complicated, and in fact, it is not.

However there are several reasons beginners believe that it is. The most common reason why inexperienced forex traders in Nigeria believe so, is because of the hype surrounding online forex trading.. Well, do not believe the hype. You can begin learning about Forex trading today and be a profitable trader much faster than you would believe. Try not to be greedy and do not look at Forex trading as a make-money-quick scheme. If you can keep from rushing into things and be patient then you will be far ahead of many forex traders in Nigeria.

There is tons of information to get you started. Here is a list of some places where you can learn about trading forex:. If you have had enough with your current nine to five job and you are sick of getting up at dawn just to sit in traffic, there are other alternatives. The best one has to be you learn forex trading in Nigeria. However these alternatives require you to have a sharp mind and be a quick thinker, most importantly not letting your emotions get in the way.

This alternative can be a full time job if you put the effort and research needed into it to be successful. I am talking about becoming a full time trader in the financial markets. With any job you must dedicate your day to your research and not let your focus wander. If you want to make money like you did previously you will have to start with the right positive attitude. Since there are many financial markets to trade, your first decision is what market to devote your research and time to.

I recommend you pick one and learn as much as possible about it. This makes it easier to learn the ins and outs, giving you a better chance at succeeding to make a living.

The main markets that most start to trade are the equities markets, the fixed income markets, the commodities markets, and the forex market. Keep in mind there are minimum deposits that each broker requires before you start to trade. If you choose to trade equities or fixed income expect a larger minimum deposit. Margin allows you to trade with borrowed money so you can purchase more that what you cash balance allows. If the initial deposit for an equities broker is too high, forex brokers require a much smaller deposit to start trading.

This is not a lie; this small amount will fund a real live account that you can trade immediately. It is advised that no matter what type of market or broker you choose to go with, that you trade on their demo account first. If you can consistently make profits from the demo account then try and trade with real money using small positions. The people who end up losing all their initial deposits are those that gamble away their entire account into one stock or currency pair.

If you start small you have a better chance of making it to tomorrow. Once you start to take real profits and have a Trading system that works, then start adding in bigger positions. Using stop limit and stop loss orders are the key to preserving capital. Do not let a losing position get out of hand.

If you can learn to take small losses instead of big ones you can find success in trading for a living. It is suicidal to attempt to invest in the online forex trading industry without first learning how to trade.

Like every other profession, you need some skills in order to become a successful forex trader in Nigeria. But the biggest question for beginner trader remains where to learn forex trading in Nigeria. With this in mind, we set out to find some of the best ways and places where you can learn how to trade forex. Top on our list of places where you can learn forex trading in Nigeria is getting training from a reputable forex broker.

Believe it or not, most reputable forex brokers want you to succeed as a forex trader. The more you trade, the more the brokers earn money from commissions and spreads that they charge. As a result, many forex brokers offer training in terms of full online courses, webinars, and seminars.

We scoured the internet to find the brokers who have the best forex training modules on their websites, and XM Forex came highly recommended. It is one of the international forex brokers that take traders in Nigeria seriously. XM Forex has an ever expanding catalogue of forex training material on their website. There are educational videos that are perfect for beginner traders, Live Education for guys who have already started training, and occasional seminars suited for all level of traders.

ForexTime, an international award winning broker, just loves Abuja. The broker organizes training summits in the city at least several times in an year. Their educational series has won fans all around Nigeria because of their practicality and informational value. Usually lasting for 3 days, most beginner traders come out of the summits fully equipped with the knowledge they need to start making money from forex trading.

Alpari is another forex broker that has really stepped up on forex trade training in Nigeria. The broker has local offices in the Central Business District of Abuja. The local representatives at the office offer a wide range of forex training courses for new as well as experienced forex traders in Nigeria. But forex broker websites and offices are not the only place where you can learn how to trade forex. There are also multiple forex training schools in Nigeria; some in Lagos, others in Abuja, and others in Ibadan.

You can also learn how to trade forex by enrolling in a forex trading school. In fact, there is no shortage of forex trade training institutes in Nigeria.

These are training companies set up by successful forex traders who got into forex trading some years earlier, mastered a system and decided to help fellow Nigerians learn how to trade. One word of caution though. Not all forex trading schools in Nigeria are legit. If possible, let the trainers show you a track record of successful trading using their live trading accounts or MyFxBook. In Lagos, the best place to learn forex trading is the OASIS International FOREX School.

The academy is located at Allen Avenue in Ikeja. However, the school does not limit itself to Lagos alone. From time to time, the tutors hold classrooms in other cities including Abidjan and Port Harcourt. So, if you are looking for forex mentors in Lagos, be sure to give these guys a visit.

Aplus Training Hub is also an exceptional forex academy. The school teaches a simple price action trading strategy that is best suited for swing traders. Another school that makes it on top of our best forex schools in Nigeria is the Revglobal Forex Academy.

I want to learn forex trading in Port Harcourt. Kindly link me to Uche Paragon academy for forex education in Port Harcourt. I want to come lagos and start learning forex for two months, I actually want to know d procedure. Save my name, email, and website in this browser for the next time I comment. December 30, January 6, December 3, December 15,

The good news is, most trading platforms consume fewer data. There are plenty of websites, books , and other resources you can take advantage of to learn more about forex trading. Within the MetaTrader community, trading robots are known as Expert Advisors EAs. Forex trading strategies can be based on technical analysis, or fundamental, news-based events. In this strategy, you place your trades, and close them within the same day or within a hour window to book your profits or loss. Emotional Stress: Let's face it, forex trading can be extremely challenging emotionally. IC Markets vs Pepperstone.

Categories:

• Forex Bitcoin
• Binary Options online
• Forex
• Binary Options
• Forex Brokers