Author: Kent

Exness is a well-known global forex broker offering individuals in Nigeria the opportunity to participate in the financial markets. For traders just getting started with Exness, one crucial aspect to understand is the minimum deposit required to open a live trading account. This article will take you through the essentials, including the required minimum deposit for Nigerian traders and the processes involved. Exness Minimum Deposit in Nigeria To register a live trading account, traders must pay an initial amount to activate the account. Furthermore, the Exness minimum deposit for Nigeria is $10, equivalent to approximately 7,500 NGN, depending on the…

Forex trading involves buying and selling currencies, with the expectation that you will make a profit from the changes in value of these currencies. The forex market is the largest financial market in the world. It provides many opportunities for many people, including retail traders like you, to make a profit. The best part? You don’t need a lot of money to start trading. In this article, we’ll look at how you can trade forex with $100. 1 – Seek Knowledge of the Forex Market It’s important to learn how the forex market works. It’s also important to learn how…

A trading plan is a set of rules and guidelines that shape and define your trading decisions and trading behaviour. It covers many important points including your financial goals, money management rules, risk management techniques and criteria for opening and closing positions. Many traders choose not to use a trading plan and that’s one of the reasons that many traders end up making unsuccessful trades. In this article we will show you how to develop a six-point trading plan. Six-Point Trading Plan The following plan shows an outline of the 6 steps that you should take into consideration before starting…

Understanding the MetaTrader 4 Platform MetaTrader 4 is one of the most popular and widely used software applications for Forex trading. MT4 can be used not only for technical analysis, but also for placing and managing orders. Here we examine how to use it in trading. How To Install MetaTrader 4 You need to download MT4 from your broker’s website (every Forex company has its own MT4 platform), or if you prefer our recommend broker HotForex. Click on the link, a window appears prompting you to save the installation file.Click on “Save File”, you will need to indicate in a…

Cryptocurrencies are digital currencies that are stored in electronic wallets. A cryptocurrency can be used as a medium of exchange. It can also be used as a trading instrument. Read on to find out how to trade cryptocurrencies. What are cryptocurrencies? Some of the most well-known cryptocurrencies are Bitcoin, Ethereum, Ripple, Dogecoin, Litecoin, and Cardano. Here are some fun facts about cryptocurrencies and how they work: 1 – Cryptocurrencies are decentralised. 2 – Cryptocurrencies are processed by a distributed network of computers. 3 – Cryptocurrency holders can make transactions without revealing their identities. 4 – Cryptocurrencies can only be moved…

Forex trading can be lucrative for many people. That said forex trading can also be a bit risky. As a new trader, there are a few things you need to do before you open a live account. Here are our thoughts on where you should start. Invest In Your Forex Education If you want to trade forex, you need to learn how to do it properly first. Learning about forex trading takes time and it’s important that you understand how the market works before diving in. What influences currency prices? Which currency pairs should you focus on? What kind of…

Are you ready to trade on a live account? A demo account offers a safe place for you to hone your skills without the fear of losing money. But how do you know when it’s time to start trading real money? And what do you need to consider before moving from a demo account to a live account? This article will help guide you through the process. Have you learned how to use the platform? Are you comfortable making trades? While many forex trading platforms are quite user-friendly, it’s still important to make sure you know how to use them…

Want to learn about forex? You’re in the right place. In this article, we will cover all the basic information you need to know about forex trading and the forex market. What is Forex? Forex stands for Foreign Exchange. It involves the buying and selling (exchanging) of currencies. The goal with forex trading is to make a profit from the change in currency value. You might have already tried exchanging currencies before, for example, when going on holiday. And you might have already noticed that you can buy and sell currencies at different prices. For example, when you exchanged money…

A pip is a unit of measurement that indicates the smallest change in value between two currencies. The term “pip” stands for Price Interest Point or Percentage in Point. Pips are quoted to either four or two decimal places. For most currency pairs, pip movements are quoted to the fourth decimal place. The one exception to this is the Japanese Yen (JPY), which is quoted to the second decimal place. For example, if GBP/USD moves from 1.4250 to 1.4251, then we say that the price has moved by one pip (0.0001). In this situation, the movement is in the fourth…

The basic meaning of swap is exchanging one thing for another. In finance, a swap is a contract between two parties where they exchange cash flows of two different financial instruments over a specified period. One cash flow is fixed while the other cash flow can change based on factors such as interest rates, commodity prices among others. Interest rates, currencies, and commodities are some examples of financial instruments that are exchanged. Swaps are traded over the counter. Over the counter is where trading of financial instruments is done directly between two entities without the involvement of a central exchange.…