from. The national watchdog has been therefore cracking down on unregulated scam forex brokers who promise riches to newbies forex managed account performance since the past few years. The Nigerian local Forex market is regulated by CBN Central Bank of Nigeria. Avatrade, they originate from Ireland and they are regulated by the Central Bank of Ireland, BVI, ASiC and MiFID. They offer leverage of 200:1 and their minimum trading deposit is 100. With the rapidly growing Nigerian economy, it was no wonder that the Nigerian forex market has witnessed rapid growth during the past decade, as more and more middle class Nigerians have been joining the fx market.
The boom in forex currency trading has begun in mid 2000s and by now there are around 300 thousand retail forex traders in Nigeria according to m resource. They operate on MetaTrader 5 platform. You can also place technical indicators, both the most popular and your own ones. He offers you the possibility to trade and a good service and you make him money by means of spreads. We hope they helped you to form a picture of what a reliable broker looks like. Youtrade FX, they are regulated by asic, FSC and FSA. Forex trading is very popular in Nigeria today. Firstly, you will have to find a CBN (Central Bank of Nigeria) regulated broker to be sure your broker is watched, supervised and monitored. So, you need to find a broker who has the lowest spreads and in this way increase your profits and reduce your costs. Risk Warning: Your capital is at risk.