Have been thinking and researching a little bit... With the constantly declining Naira.... We could make some money from it..... Like opening a forex account with a known and trusted broker... And then after being verified... You deposit fund when the exchange rate is reduced like for example the exchange rate is 340 naira to a dollar and then when it about 400 Naira to a dollar like it is now.... You withdraw all your funds from the broker...and you'd have made some profits.... This is good because the naira is always going up and down.....well there's forextime.... A very respected broker.... Link is in my signature... Let me hear how you feel about this.... Its an idea.... Responses are welcomed....

What's the take on it?

This is nothing new, its an old stunt I've cash in on countless times. and you are there looking to join when people have cashed in big time in it... lol,...

Here are the loop holes to avoid..

Rates are flexible so u can't tell the direction it would go, then because Most brokers will only let u withdraw money from the same means u funded ur account with. bank wire will attract it's own cost which may erode your profit. Then u can only deposit money in your account by buying from blwck market . Which is high


Keeping your account inactive without trading most broker will not let u withdraw unless u have traded a certain limit, maybe 10 to 15 trades , leaving your account inactive will also attract a sanction fee monthly. The fee self.fit finish the margin you can ever make on the sales . And it u trade without experience u can lose all your Money.

rychard:
This is nothing new, its an old stunt I've cash in on countless times. and you are there looking to join when people have cashed in big time in it... lol,...

Here are the loop holes to avoid..

Rates are flexible so u can't tell the direction it would go, then because Most brokers will only let u withdraw money from the same means u funded ur account with. bank wire will attract it's own cost which may erode your profit. Then u can only deposit money in your account by buying from blwck market . Which is high


Keeping your account inactive without trading most broker will not let u withdraw unless u have traded a certain limit, maybe 10 to 15 trades , leaving your account inactive will also attract a sanction fee monthly. The fee self.fit finish the margin you can ever make on the sales . And it u trade without experience u can lose all your Money.

Ok so tell us how you cashed in on it.....