You’ve heard about forex. You know it can be highly profitable. You’re interested in learning more, or you’re ready to start currency trading, and you want to know where to begin. Like any intelligent person, you have a lot of questions—and that’s good! Forex can be profitable for individuals who approach it with a sound trading strategy and proper risk management. Before you get started, take the time to prepare yourself properly. This forex trading for beginners’ guide is designed to help you understand what you need to do if you want to trade currencies for a living – and…
Author: Kent
Kent
Kent has been working in the FX industry since 2012, and has become a successful, experienced forex expert. He is a regular contributor to our website and provides exclusive insights into the financial markets.
In the forex market, there are two types of market analysis: technical analysis and fundamental analysis. In this article, we will focus on fundamental analysis, and the use of economic indicators. This refers to the analysis of political, social, and economic forces that may influence the demand and supply of currencies. It also refers to the use of economic data and news in understanding those forces. Let’s take a look. Economic Indicators Economic indicators are reports disclosed by governments and private organisations that show the performance of a country’s economy. A country with a good economy has a high currency…
If you are just starting out in trading you may have come across the term hedging and wondered what it’s all about. Read on to find out what is hedging and why it can be important. Hedging is a strategy applied to reduce the amount of loss incurred in case of occurrence of an unfavourable event. Hedging only reduces the negative impact of an event on an investment but cannot prevent the adverse event from happening. A hedge is an investment that protects against adverse changes in prices on investments. Corporations and individual investors are the ones who mostly use…
Introduction to Forex Trading in Nigeria Forex trading is a popular form of investment for many Nigerians. It offers the potential for high returns and allows traders to take advantage of global financial markets. With its low cost, easy access, and 24-hour availability, it’s no wonder why so many people are turning to forex trading as an alternative source of income. In this article we will discuss what forex trading is all about and how you can get started with it in Nigeria. We will also provide some tips on how you can become successful at forex trading in Nigeria…
Success, in forex, is all about timing. In this article, we take a look at each of the different trading sessions, and why they are important in determining the best time to trade forex in Nigeria. Let’s Start From The Beginning Forex trading is when you exchange currencies, through buying and selling, with the aim of making a profit. In foreign exchange, currencies are traded in pairs whereby the value of one currency is measured and exchanged against the other. For example, if you buy the currency pair EUR/USD and the value of Euro rises against the US Dollar, then…
Instaforex is offering its traders a 100% welcome bonus. It is open to new clients who open their first live trading account. It is also available to existing clients who open a new live trading account. How To Get Started Step 1: You complete the online registrations process.Step 2: You open an Instaforex online trading account.Step 3: You make the minimum deposit via your online portal.Step 4: You start trading with any of their instruments. Things To Note Bonus funds are not available for withdrawal and are credited to deposit up to $2000. You can withdraw all the profit from…
M4Markets has launched its Wheel Of Fortune raffle prize draw. At the end of each month three lucky winners will be eligible to win a cash prize. The cash prize is credited to your trading wallet and it is fully withdrawable. The Prizes There are three raffles prizes – one for each of the M4Markets account types. Standard Account – $250 Raw Spread Account – $500Premium Account – $1000 How It Works M4Markets has automated the process to make it as hassle-free as possible for you. All you need to do is focus on your trading and they will make…
Cryptos or Cryptocurrencies can be traded at forex brokers and at crypto brokers in two variations. Crypto CFD The first is the most common so far, which is trading cryptocurrencies as CFDs (Contract For Difference). For you as a trader, this usually means that they are traded 24/5, as well as the fact that there’s most often only Crypto vs USD or EUR pairs, not Crypto crosses. Most common Crypto pairs are BTCUSD, BTCEUR, ETHUSD, ETHEUR, LTCUSD, LTCEUR, XRPUSD and XRPEUR. BTCUSD = Bitcoin vs USDBTCEUR = Bitcoin vs EuroETHUSD= Ethereum vs USDETHEUR= Ethereum vs EuroLTCUSD = Litecoin vs USDLTCEUR…
Hotforex, one of Nigeria’s top online forex brokers, offers new traders a great welcome package. It has two main bonuses – a 50% welcome bonus and a 100% supercharged bonus. With these two bonuses, traders can increase their balance and start trading with more capital. 50% Welcome Bonus Get it with just $50 deposit Increase your balance by 50%Available on MT4 trading platformAvailable on Micro Accounts 100% Supercharged Bonus Earn daily CASH rebates of USD 2 per lot directly to your accountApplies to EVERY deposit of USD 250 or moreLeverage of underlying account prevailsMaximum cumulative rebates USD 8,000Automatically triggered and…
All Forex brokers can be divided into several groups according to their business model. Types of Forex Brokers In turn NDD-Brokers may be divided into two subgroups: Dealing Desk Brokers A DD Broker – the so-called Dealing Desk – works by issuing its own orders and maintaining fixed spreads. Dealing Desk-brokers earn on spreads and trade against their clients. This is called market participant or market maker. In fact, it describes its own activities: a market maker “makes the market”. When traders want to sell any financial instrument, the DD broker buys it; when traders want to buy, the DD…