TRADING OPPORTUNITIES IN MY COUNTRY "NIGERIA"
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Thread: TRADING OPPORTUNITIES IN MY COUNTRY "NIGERIA"

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    TRADING OPPORTUNITIES IN MY COUNTRY "NIGERIA"

    INTRODUCTION: First of everything, I would like to immensely thank the moderator of this great forum for their opportunity to compete among forum members once again, it is a good opportunity. And like I always say, it is a means by which traders can truly build themselves and bring out the hidden treasure of writing and skills development. My style of writing this time around is going to be question and answer style. Meaning that; It will be an article-like style that is similar to an interview format, this will enable any one to grab the gist and even skip easily to the point that is mostly interesting to them.
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    WHAT IS YOUR COUNTRY? My country is Nigeria Attachment 14551, it is located in the west part of Africa. It is the country with over 170million population and it has the largest economy in the Africa as a whole. This country Attachment 14538is endowed with mineral resources, most especially crude oil.

    WHAT TIME AND TRADING SESSIONS DO YOU TRADE? I trade all the most important trading sessions of the day, but I always disregard the Europeans sessions, instead, I key in to the UK session, and it is mostly profitable for me. I trade Asian session which is midnight of our country time (1.00am of Nigeria time), UK session which starts by 9.00am Nigerian time and US session which starts by 2.00am Nigerian time. This means that I make sure I analyze and speculate the market three times a day, that is why I would know if I should trade or disregard the signal at that point in time.

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    WHERE AND HOW DID YOU LEARN FOREX? Well, I would not say that I learned forex directly from anyone, but a friend of mine in the university days introduced trading to me, but he did not teach me how to trade forex actually. I had to learned independently through the internet, and it took me many years before I became what I am today. And I am proud to be a financial market trader.

    Attachment 14558 Attachment 14540

    WHAT IS YOUR EXPERIENCE IN TRADING? Just like I said earlier, I learned market trading independently. I have long trading experience in the market. I started the journey of trading in 2004, and I started with demo by then. In 2006, I started the live trading. When I started live, I lost lots of money, but I had gained back countless of it since I did not quit. I have lots of trading system presently, I trade long term, scalping and even intraday. The choice of the system I trade depends on the mood I am, the chance I have for the market and the condition of the market at that point in time.

    Roboforex logo.JPG Chart for trending market.JPG
    HOW MANY PEOPLE FROM YOUR COUNTRY KNOWS THE MEANING OF FOREX? With the way I view it, few people knows the meaning of forex, say about 20%, let alone knowing how to trade the business. The few people that knows trading are still struggling to have success through it, this is what I believe that is discouraging its more popularity.

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    DO YOUR FRIENDS AND RELATIVES TRADE FOREX? Yes, I have friends and relatives who trades forex, and I will still reach out to many of them over time, so that they can benefit from the market.

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    WHICH PAYMENT SYSTEMS ARE POPULAR IN YOUR COUNTRY? My country started trading transaction with bank wire, but the cost of that is high little, that is why they resolve to exchanging with payment system like; PERFECT MONEY, OKPAY, WEBMONEY, NETELER, BITCOIN, SOLIDTRUST, PAYZA, PAYEER etc. And the most popular among the earlier mentioned systems are PERFECT MONEY, OKPAY, WEBMONEY and NETELLER. While the dollar shortage in my country has affected the credit and debit card transactions.

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    WHAT ARE THE CHALLENGES OF ELECTRONIC PAYTMENT SYSTEMS IN YOUR COUNTRY? Payment systems are not really safe, but they are more cost effective, that is why many traders opts for it in my country. And the main issue we have with it is high spread by the exchangers/merchants, the spread could be as high as 70 naira at times, this is too high. If Roboforex can offer direct deposit and withdrawal through naira, it would be a side attraction to boast their market in Nigeria.

    WHICH INSTRUMENTS ARE THE MOST TRADED? Although, the Forex is most traded than any other financial assets, and the most traded among Forex is the majors, while they trade EURUSD pairs the most.

    EURUSD as most popular.JPG
    WHICH PLATFORMS ARE OFTEN USED IN MY COUNTRY? I have seen traders used MT4, MT5, Java trader, C-trader etc.. But the most widely used is mt4 trading platform.

    MT4 platform.jpg
    HOW POPULAR IS ROBOFOREX IN YOUR COUNTRY? Honestly, Roboforex is not popular in my country compared to their competitors. Roboforex has all it takes to be popular and drives the market of my country if they really wish to.

    Roboforex logo.JPG
    WHAT CAN ROBOFOREX DO TO BE AT THE TOP IN MY COUNTRY? Roboforex needs a more functional representative office in my country, they need to work more on marketing skills and strategies. They need more functioning dollar-naira exchange, not the way they introduced it initially, but more structured way. They need seminars to convince traders on how possible is it to make success in the market, they need sets of experienced traders in my country. I can really help if they gave me that opportunity to serve them.

    Banks that payment system merchant use.JPG
    WHAT ARE REVIEWS OF ROBOFOREX? Anytime, anywhere, Roboforex has a good review. Almost all trader are saying good about the company, and my personal experience with this company is excellent as well. The little bad side I heard of this company are even the fault of the traders that alleged it after they explained, so why should I blame the company for the faults of their trader itself? So, so far, so good.

    Roboforex benefits and payment systems.JPG
    WHAT ELSE CAN I SUGGEST TO ROBOFOREX ABOUT MY COUNTRY? Roboforex is a good company, they have all the benefits that any trader will ever wished for, they should use more human resources to get those benefits across to Nigerians, and I know that they will fall for it and become useful client of the country.

    CONCLUSION: Nigeria is a great country with many business opportunities, but it is only the wise ones that will get more of these benefits. I believe this thread can be of great help to both Nigerians and the Roboforex company at large, and my advice for both party is to read it and act on it, and I am sure that it is going to be a good tool for the both party's success.
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    Last edited by cozard007; 08-16-2016 at 10:04 AM.

  2. #2
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    This is a good thread, you have shown how powerful a business could be in our region Nigeria. But the link to the images you post are not showing, it is saying invalid, contact the administrator, try yo look into that.

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    Quote Originally Posted by Sylvertee View Post
    This is a good thread, you have shown how powerful a business could be in our region Nigeria. But the link to the images you post are not showing, it is saying invalid, contact the administrator, try yo look into that.
    Thank you for this reply, and I am glad that someone like this. I have noticed it myself, and I do not know the reason that it is happening like that, I will make sure to contact the moderator for this, and I believe a solution would be proffered to it before the end of this contest.

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    All of you that have viewed, commented or thanked my thread here, I appreciate you, this shows that I have written what is worth reading, and I am happy about your kind gesture.

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    The capability of a business is mainly assured by the number of people and the economy of that country. You have explained this like a professional and i believe it is so true with what i have research on the internet too. While all traders who are willing to trade with nice broker can take the advantage of this thread to engage in the good broker of their choice like roboforex.

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  6. #6
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    Quote Originally Posted by silverlady View Post
    The capability of a business is mainly assured by the number of people and the economy of that country. You have explained this like a professional and i believe it is so true with what i have research on the internet too. While all traders who are willing to trade with nice broker can take the advantage of this thread to engage in the good broker of their choice like roboforex.
    Thank you so much for the concern, truly it is good to exploit the world and get the best through the opportunity you see there. My country is part of the place where diverse opportunity are locking, but it has not been well harnessed in its full capacity by any broker, this might be an opportunity to notice it better.

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