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Access Bank Goes Forex - Business - Nairaland

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Access Bank Goes Forex by edujoy(m): 9:43pm On Dec 25, 2011
I love this development. It means the Forex sector will really get a big boost in Nigeria. I also hope that all other Banks will follow suit. This is so cool

What do you think?
Re: Access Bank Goes Forex by jamace(m): 5:59am On Dec 26, 2011
Yea, I saw the advert and I quickly googled it and found it is true. However, I will visit their branch to complete my enquiry.

It will be very good to have such. cool
Re: Access Bank Goes Forex by Nobody: 6:12am On Dec 26, 2011
Do they have mt4, and how many pair they have, also are they market maker?( If they are market maker then u know that u are dead if u open an account with them, because nigerians know how to manipulate the more
Re: Access Bank Goes Forex by rango2011(m): 8:45am On Dec 26, 2011
Nice one, by acces bank, but I still feel the forex riches thing is over hyped,I hear of forex traders making tonnes of money, but I think is fictitious , I have not really seen a forex trader that has made so much money from forex.
Re: Access Bank Goes Forex by Nobody: 8:48am On Dec 26, 2011
^^ Good for u
Re: Access Bank Goes Forex by edujoy(m): 9:45am On Dec 26, 2011
rango2011:

Nice one, by acces bank, but I still feel the forex riches thing is over hyped,I hear of forex traders making tonnes of money, but I think is fictitious , I have not really seen a forex trader that has made so much money from forex.

I know over 10 traders in Nigeria who are full time traders. I also trade full time:no extra job, no extra business, I have a family, my wife doesn't work, we just trade forex. See why I am excited about this development?

1 Like

Re: Access Bank Goes Forex by rango2011(m): 9:53am On Dec 26, 2011
Trust me, iv gotten involved with some so called forex managers , iv even opened my own forex account and just gave them login details o only trade , but all to avail, fraudsters or incompetent wanabees all scrambling to get your money and can't even trade or too greedy and loose the money all in one swoop
Re: Access Bank Goes Forex by edujoy(m): 9:56am On Dec 26, 2011
odiaero:

Do they have mt4, and how many pair they have, also are they market maker?( If they are market maker then u know that u are dead if u open an account with them, because nigerians know how to manipulate the more

http://www.accessbankplc.com/Pages/Page.aspx?Value=197&ln=Gy7UlI4cSJE94Wa2qudbFQ%3d%3d
Re: Access Bank Goes Forex by edujoy(m): 10:02am On Dec 26, 2011
rango2011:

Trust me, iv gotten involved with some so called forex managers , iv even opened my own forex account and just gave them login details o only trade , but all to avail, fraudsters or incompetent wanabees all scrambling to get your money and can't even trade or too greedy and loose the money all in one swoop

Statistics show that over 98% of people who trade forex in Nigeria are inadequately informed about the forex market. next time you want your account managed better visit the account manager one on one and ask for trading history of managed accounts
Re: Access Bank Goes Forex by Nobody: 3:06pm On Dec 26, 2011
i used to trade forex, stopped cos i don't have enough time for it. it was (and still is) really lucrative, you have to understand the market
Re: Access Bank Goes Forex by Nobody: 3:09pm On Dec 26, 2011
edujoy:

http://www.accessbankplc.com/Pages/Page.aspx?Value=197&ln=Gy7UlI4cSJE94Wa2qudbFQ%3d%3d

They are just below expectation from what i saw fromt the link u provided, they dont show the kind of platform they use, no leverage explanation and so on, i guess forex in naija level defined, not even for free, i cant trade with them
Re: Access Bank Goes Forex by eunisam: 3:14pm On Dec 26, 2011
I dont understand this forex.oooo my friend went and came out empty handed.

tell us how to trade and not to loose naa abi na try your lock thing?
Re: Access Bank Goes Forex by Toks2008(m): 4:35pm On Dec 26, 2011
Access bank will make tons of cash from spreads and commisions no doubt cos many fx traders only know how to do one thing.

LOSE.

So ride on Access bank and join the league of brokers feeding on innocent and ignorant traders expecially Greedy Nigerian traders.

For most of you aspiring to venture into fx trading, please i advice you to take it up as part time business cos you are likelyto lose your equity if you want to depend on this business alone to pay the bills.

Secondly, if you are thinking of making quick profit, please don't even dare trade fx cos its a slow and steady business. Thats my candid advice to you all. Don't believe in most of these so called account managers. Ask them to trade a demo for you for just one month and see wat they come out with. Many fx traders are losers but only few make consistent profits and those few are the ones whi are ok with 5/10% profit on equity on a monthly basis,

Please be warned

2 Likes

Re: Access Bank Goes Forex by Nobody: 4:40pm On Dec 26, 2011
Toks2008:

Access bank will make tons of cash from spreads and commisions no doubt cos many fx traders only know how to do one thing.

LOSE.

So ride on Access bank and join the league of brokers feeding on innocent and ignorant traders expecially Greedy Nigerian traders.

For most of you aspiring to venture into fx trading, please i advice you to take it up as part time business cos you are likelyto lose your equity if you want to depend on this business alone to pay the bills.

Secondly, if you are thinking of making quick profit, please don't even dare trade fx cos its a slow and steady business. Thats my candid advice to you all. Don't believe in most of these so called account managers. Ask them to trade a demo for you for just one month and see wat they come out with. Many fx traders are losers but only few make consistent profits and those few are the ones whi are ok with 5/10% profit on equity on a monthly basis,

Please be warned

I dont know where u get ur stats from, i do forex full time
Re: Access Bank Goes Forex by 222Martins(m): 5:24pm On Dec 26, 2011
Hello, i don't seem to understand what the fuss is all about. How does Access bank venture into forex affect the average Nigerian?
Re: Access Bank Goes Forex by GboyegaD(m): 5:34pm On Dec 26, 2011
It is quite a highly risky venture which yields very high returns. My fears however is that hope they wouldn't be carried away by greed just as we had in the stock market some years back?
Re: Access Bank Goes Forex by Nobody: 5:36pm On Dec 26, 2011
Nothing new there, all banks do the same either directly or indirectly, legally or illegally.
One thing people dont know is that banks trade differently from ordinary or retail traders. when you are getting into the market, the are getting out most of the time out of the market because they usually have money to cause high volumes which in turns give them more money.
Besides, they use different arbitrage from different brokers feed to make alot of money easily (dont ask me how). just imagine trading 10 lots/trade in which a pip is $100. you know how much they can make or loose.
Again,banks use majorly DEMAND AND SUPPLY to trade forex( that is secret you must pay me for either you believe it or not, ahaha). if interested Google it - like how to trade forex with demand and supply, you will thank me later. i use that method a lot for long term trading, but my main method is confidential and will never be sold at any price, sorry no marketing here. just a fact.
i am developing my self since the last 4 years to be financially free and forex is one of what is helping me. It really liquid market to make or loose money for real.
Re: Access Bank Goes Forex by Toks2008(m): 6:06pm On Dec 26, 2011
odiaero:

I dont know where u get your stats from, i do forex full time

Please read between the lines. I know very few people make it trading fx full time but as i wrote" Many fx traders are losers but only few make consistent profits and those few are the ones whi are ok with 5/10% profit on equity on a monthly basis"

And those who claim they make money can't prove it so who is fooling who.

I don;t care about statistics cos i know its obvious that 98% of fx traders lose their money in the long run.

End of story.
Re: Access Bank Goes Forex by Nextworldnx(m): 6:20pm On Dec 26, 2011
Its a welcome development as accessfx is born in the fx market and it will be nice to provide support for in which ever way possible,instead of whinning about their soon to be faults. We that are involved in this forex business and succeeding know ourselves,so no need bragging about it here, you make your pips for yourselves. Besides,someone has to lose! There is no point to prove to anyone,if you like believe it,if not then let it be.
Re: Access Bank Goes Forex by Nobody: 6:35pm On Dec 26, 2011
rango2011:

Nice one, by acces bank, but I still feel the forex riches thing is over hyped,I hear of forex traders making tonnes of money, but I think is fictitious , I have not really seen a forex trader that has made so much money from forex.

edujoy:

Statistics show that over 98% of people who trade forex in Nigeria are inadequately informed about the forex market. next time you want your account managed better visit the account manager one on one and ask for trading history of managed accounts

Toks2008:

Please read between the lines. I know very few people make it trading fx full time but as i wrote" Many fx traders are losers but only few make consistent profits and those few are the ones whi are ok with 5/10% profit on equity on a monthly basis"

And those who claim they make money can't prove it so who is fooling who.

I don;t care about statistics cos i know its obvious that 98% of fx traders lose their money in the long run.

End of story.


rango2011:

Trust me, iv gotten involved with some so called forex managers , iv even opened my own forex account and just gave them login details o only trade , but all to avail, fraudsters or incompetent wanabees all scrambling to get your money and can't even trade or too greedy and loose the money all in one swoop

There is no hype about Fx, you either know how to trade or you dont!, just like any other biz, you either know your way in or you are showed the way out!

I am not a regular poster/commentator on this forum( the forum has my respect and i can say its one of my favorite abode online),so i will not try to argue blindly or emotionally as most do!, No statistics shows that 98% or 2% of traders in Nigeria are losers!, but i can tell you that the larger chunk of traders here in Nigeria do loose have met and discussed with over 300 Nigerian traders( that number could be small compared to the number of ''forex traders'' or  ''forex gamblers'' in the country)

During the era of wonder banks, most thought they participated in forex,NO, most didn't,rather they engaged in a ponzi scheme and those that did trade forex did it without any for of knowledge( i once worked with a wonder bank who approached me under the cover of an investment firm).

Those who actually make money from forex aint the noisy ones( i am humbled to say i am one of them),i do not mean those that make  100, 500 or 1000usd daily,  i mean those  that make the real cash in forex( the real cash? yeah.1000usd?No,2000usd ? No, 5000 usd? Yes!) Most of them do not offer semi baked classes, they don't even have the time! cos it probably takes then less than a trading session to make triple of whatever you want to pay them!)

Do you know that most of those who claim to manage funds for investors do not even have a single account?


Cheers

Tope


www.myfxstyles..com
Re: Access Bank Goes Forex by samyng(m): 7:24pm On Dec 26, 2011
Nice one, what a welcome development,  Forex Trading here in Nigeria is really trying to gain its recognition and respect here in Nigeria and that's why 2 brokers here in Nigeria (Alpari and AcmGOLD ) do trade analysis and other awareness on Channels Tv (Business Morning ) most times every day

www.youtube.com/watch?v=ql580Rgx6o8&feature=youtu.be
Re: Access Bank Goes Forex by bizboy01(m): 7:47pm On Dec 26, 2011
Forex trading is a big market that anyone with sound knowledge can make a living with it even brokers as well, the problem with Nigerians is gullibility and lack of proper knowledge on how a biz is run.

I spent 4yrs learning and acquiring many skills and strategies in forex and it has paid me greatly, I encourage you to ask for God's direction in meeting a good mentor that will show you his strategies with sincerelity.

2 Likes

Re: Access Bank Goes Forex by PStacks(m): 8:06pm On Dec 26, 2011
Hello everyone, I visit nairaland regularly and I really don't post, atimes maybe I just come to sample opinions or maybe just to keep maself busy. But this thread is of particular intrest to me.

After going throug this thread, I found there are some issues I would like to adress.

I got scared cos some guys already made mention of my kind'a circumstance already but I still felt I could pull one or two things cos there are some real objective people here on nairaland.

First things first.
If it is d Access banks FX you see after every EPL match, then I think we are on the same page.

Sorry to inform you, but they don't do the kind'a forex trading all u guys are talking about.

I'am a currency trader nd took the pain to visit their branch at Jimeta Yola. Adamawa state. The guy I meet at the desk had to connect me on phone to lagos head office. I called nd the guy made it clear to me they are not the knid'a forex trader I enfisiaged. He said maybe u wanted to pay import duties nd bla bla bal I just lost intrest.

But having said that, I am an introducing broker to Alpari one of the biggest forex brokers that's existed proven nd tested 10years. They have the US office on wall Street, with other offices in UK nd all around. Alpari now operates in Lagos nd Abuja.

You can check it out.
http://www.alpari-forex.com/?partner_id=1207932

Now the main issue.

I heard a guy say he's a forex trader nd that's what he does 24/7 with his wife nd am tripped.

I also heard some other guy talk of opening accounts nd giving login nd password to account managers nd they blowing up the accounts.

All that, but mehn! U guys got better believe it. Currency trading is still an advanced thing for us at this part of the world.

The forex market turns over $4trillion USD everyday. You are only left with you emotions, Greed nd Fear.

Of the 1,300 billionairs in the world, the few I hav come across are from Wall street, So they tell you Forex trading is risky nd that is enough panic on its own.

On bloomberg tv, all u here is, currency strategist form Goldman sachs, Jp morgans nd what have you.

I can like forex trading to driving a car. Everybody knows the risk that comes with driving a car, and I can bet every true nairalander reading this thread has a car.

So, would u say becos of the risk involved in driving you won't go from point A to point B. Wreckless drivers crash.

In driving, everything is about safety!

Currency trading is not a big deal.

U get 2 stuff, compare and contrast nd go with the best one.

This is end of year. Compare the current Euro-zone economy, and compare the state at which the American Economy is closing for the year. Stake your money on which economy u think would be in trouble in 2012 and the one u think would do better on a Eur/Usd pair. Place just one trade for the year till december 2012.

Everybody knows the Euro-zone is in trouble with greece, portugal, ireland, spain nd italy, that almost all these people changed government.

Silvio belusconi was eased out from italy, perpendrous from greece, only france nd Germany are core euro-zone now with the UK staying out'a d matter. France is under threat from credit rating agencies, S&P, Fitch nd Moody's. So Europe is in for it.

I can comfortably tell u to invest ur money with no risk by doing just 1 thing. If u look at real madrid, hey hav won their last 15 matches B4 barca nd after Barca, they've won all d other 3. So a Win-Win scenerio is possible for critics like those Abusing Bishop Oyedepo of Winners Chapel.

Now the thing is, its in human nature not to be patient atimes. Greed nd Fear are the only 2 emotions a forex trader's got to rule out of all other emotions like love, anxiety, nd all dat. All ready I feel this post is too long. Maybe u just hook with me online if u want to make real big money!

Martins
MD/Ceo
GWC LTD
Twitter: GWCFX.
Facebook: Global wealth Forex Sniper
Mobile: 2348034695042
: 2348054505762
Re: Access Bank Goes Forex by Digriz(m): 8:15pm On Dec 26, 2011
One of my friend who was into forex lost all hs saving within a year,mehn 5 mil lost.
Re: Access Bank Goes Forex by edujoy(m): 9:05pm On Dec 26, 2011
Digriz:

One of my friend who was into forex lost all hs saving within a year,mehn 5 mil lost.
My guess is that your friend had very little knowledge about what he was going into.
Re: Access Bank Goes Forex by Woke4all(m): 9:52pm On Dec 26, 2011
Digriz:

One of my friend who was into forex lost all hs saving within a year,mehn 5 mil lost.
Forex trading is certainly not for everyone, the substantial leverage available from online currency trading firms is a powerful, moneymaking tool. Rather than merely loading up on risk as many people incorrectly assume, leverage is essential in the Forex market.
Re: Access Bank Goes Forex by moremi2008(m): 1:00am On Dec 27, 2011
Guess the next bail out is right around the corner.
Re: Access Bank Goes Forex by kupsonrex: 7:08am On Dec 27, 2011
tope!!! wetin i do you? you really turned me down, 
Re: Access Bank Goes Forex by soloqy: 7:30am On Dec 27, 2011
topestyles:

There is no hype about Fx, you either know how to trade or you dont!, just like any other biz, you either know your way in or you are showed the way out!

I am not a regular poster/commentator on this forum( the forum has my respect and i can say its one of my favorite abode online),so i will not try to argue blindly or emotionally as most do!, No statistics shows that 98% or 2% of traders in Nigeria are losers!, but i can tell you that the larger chunk of traders here in Nigeria do loose have met and discussed with over 300 Nigerian traders( that number could be small compared to the number of ''forex traders'' or  ''forex gamblers'' in the country)

During the era of wonder banks, most thought they participated in forex,NO, most didn't,rather they engaged in a ponzi scheme and those that did trade forex did it without any for of knowledge( i once worked with a wonder bank who approached me under the cover of an investment firm).

Those who actually make money from forex aint the noisy ones( i am humbled to say i am one of them),i do not mean those that make  100, 500 or 1000usd daily,  i mean those  that make the real cash in forex( the real cash? yeah.1000usd?No,2000usd ? No, 5000 usd? Yes!) Most of them do not offer semi baked classes, they don't even have the time! cos it probably takes then less than a trading session to make triple of whatever you want to pay them!)

Do you know that most of those who claim to manage funds for investors do not even have a single account?


Cheers

Tope


www.myfxstyles..com

So with all this obvious achievement of yours in this field, you still dont think that having your own domain/website would add more credibility to your claims/business?

You are using a free offering(). Its unheard of with forex account managers abroad. With the kind of money you say you are making, its really baffling that you insist on using a free service like .
Re: Access Bank Goes Forex by moremi2008(m): 7:58am On Dec 27, 2011
soloqy:

So with all this obvious achievement of yours in this field, you still dont think that having your own domain/website would add more credibility to your claims/business?

You are using a free offering(). Its unheard of with forex account managers abroad. With the kind of money you say you are making, its really baffling that you insist on using a free service like .

So you really believe they are making any money from forex trading? LOLLLLLLLLLL!!!! Almost all of them are scammers and wannabes. Forex trading kor, forex laundering ni!

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