Are you ready to dive into the exciting world of Forex trading but unsure where to start? Look no further. This guide introduces forex trading in Nigeria, popular forex trading apps for beginners. Whether you’re just starting out or looking to expand your knowledge, this guide has everything you need.
What is Forex Trading, and How Does It Work in Nigeria?
Forex trading, also known as foreign exchange trading, is the buying and selling of currencies in a global marketplace. With a daily trading volume of over $6 trillion, Forex is the largest and most liquid financial market in the world. Unlike stock markets, Forex operates 24 hours a day, thanks to overlapping time zones. This allows traders in Nigeria and worldwide to participate at their convenience.
Forex trading works by pairing currencies. For example, in the EUR/USD currency pair, EUR is the base currency, while USD is the quote currency. Forex traders make a profit by predicting price changes in these pairs, buying low and…
Source: Leadership Newspaper
