How to Start Forex Trading?
To start trading on the Forex market you need a computer with the access to the
Internet (preferably fast, but any connection will work if you won’t be
scalping). On the Internet you’ll have to join one of the online Forex
brokers. There are many such brokers available nowadays; chose the one that is
more comfortable for you. A good online
Forex broker should:
- Accept traders from Nigeria.
- Allow small accounts and deposits, so you can try it with a little money before starting a serious trading.
- Offer a variety of payment methods for depositing and withdrawing funds, especially WebMoney, Skrill, Neteller, or Bitcoin.
- Provide the convenient ways for trading — either a newbie friendly trading platform or powerful MetaTrader platform.
- Be a reputable and trustworthy online company, to which you could trust your trading account’s security.
- Have a fast order execution and funds transaction processing.
- Offer a dedicated online and phone support.
As it was mentioned before, there are many Forex brokers available, but here
presented is the list of the most prominent representatives of the online
Forex brokerage market:
-
EXNESS — a regulated broker with global presence. They accept Nigerian traders and offers favorable trading
conditions — $1 minimum account size combined with 1:2000 leverage. They also offer ECN accounts and have very fast funds withdrawal
system. EXNESS offers both MetaTrader 4 and MetaTrader 5 trading platforms.
- FXOpen — the broker
that supports MetaTrader 4 trading platform; deposits/withdrawals via WebMoney,
Wire transfer, CashU, and Bitcoin; micro accounts from
1$, mini accounts from $100; free $25 bonus; regular trading contests; it
operates for more than 10 years already and has a professional multilingual
support team.
-
InstaForex —
an established Forex broker popular in Asia. It can boast a wide range of deposit/withdrawal
options, one of the best conditions on the market, MetaTrader 4 trading platform
and the 6% interest rate for non-Muslim trading accounts. InstaForex is know to be friendly to traders from Nigeria.
- LiteForex — a Forex
broker with a very large member base and a long history, it offers MetaTrader 4
platform; WebMoney, bank transfer, CashU, OKPAY, and Perfect Money as payment methods; excellent
support service and a guaranteed stability of one of the most trusted Forex
brokers. Cent accounts are offered.
- AGEA —
previously known as Marketiva, they are a pioneer of the newbie-friendly
Forex trading. AGEA offers a very easy-to-use trading platform with a lot
of functionality, as well as support chat and advisors’ chat; options for
funds deposit/withdraw are: WebMoney, e-dinar, DIXIPAY, FasaPay, Neteller, Payza, Perfect Money, QIWI, and Skrill.
Cent accounts are allowed. MetaTrader 4 platform is also available to interested traders.
After you open a trading account with some Forex broker, you will have to
download its trading platform, deposit the required amount of initial funds to
your account and start trading.
But to trade successfully you have to educate yourself about Forex, next
section of this site is devoted to the process of learning to trade on Forex.
