₦airaland Forum

ThundrCork:
i need a reliable ECN broker that would accept naira mastercard from Nigeria. suggestions will be helpful thanks

You might be limited if you want to deal with a naira Mastercard / visa

I like to think most brokers accept even though I've never used.

I can suggest my Darwinex or Exness ECN (specifically Exness E.C.N)

Someone else might suggest better

succyblinks:
Why is freeze only attacking pastors? Why doesn't he attack Alfas and the rest? Oh I forgot, he will be roasted alive the day he tries it

Low life idiot looking for acceptance online, you better go for therapy before you die from depression

If he was "looking for acceptance", he wouldn't talk against pastors.

Even a baby knows that's the soft spot of Nigerians and most under developed societies.

He speaks the truth but is silly for doing it because it will do him more harm than good.

jobaltol:
Pastor Adeboye was right...Zika was found to be sexually transmitted...Ignorance dey kill o

Zika is not a newly discovered disease.

Before you reply with ignorance. Google

oloriadebusola:
If you don't the facts please shut up, let's not write blindly
Am happy to say am married to an officer of the Nigerian army and wouldn't have it any other way, those castigating the soldiers write up should shut up, what do you about barrack life, you couldn't last a day in the Nigerian Defence Academy, you should see the rigorous training they go through, after that officers and soldiers are posted out to the north east to fight our battles, do you how many women have become widows, fatherless, instead of praising the Camo some spit on it.
If you can do better join up, don't be all mouth.. Go to 44 military hospital in kd, maybe that would shut you up, learn to respect soldiers, some leave wives and families for months, you are in the same country with your hubby and you won't see him for months, that is sacrifice.

You must be daft! What is so sacrificial in staying away from family for months.

Alot of careers demand staying away from home and are very risky.

From astronauts to underwater welders to nuclear reactor operators.

None of these people go to Street to beat people up.

You can speak for yourself and your husband but don't be inconsiderate and make the larger populace affected by their wickedness angry.

That is not a gorilla!

FENZY24:
Inwa told crypto trading and forex trading are different.. Op do u knw about crypto trading?

I don't know much about cryptocurrencies. This thread is strictly for currency trading

I have delayed this write up because I am finding challenges in compressing the information.

there are several ways money to make money in this multi trillion dollar industry.

I will categorize them in 2 groups, both highly lucrative if you know what you're doing.

Forex Trading & Forex Business

The Forex Business
This is making money from the industry without actaully trading. You don't require any trading skills to make money, However you need other relevant skills, e.g, Marketing, coding, public speaking etc.

I will sub categorize real quick but will not elaborate:

Publishing:
Blogs/ Forums/ websites, Ebooks and Videos (the goal here is to publish content in form of tutorials, insights and research while earning affiliate income)

Consulting:
Coding services, Brokerage setup, B2B marketing (Offering a range of specialized services to brokers, Hedge funds etc. usually on contract basis)

Blue chip:
Brokerage ownership (white labels, Introducing brokers, regional partnerships). Involves more capital and effort, for the big ballers

Merchandising:
Selling of Forex related materials; Experts, VPS, indicators etc.

I will not elaborate on the above mentioned areas but they are very lucrative and involve less risk, skill and commitment as required by trading. (This is where most of the Gurus and teachers fit in)

the attached image explains the mindset of a Forex marketer. (or any businessman)

Here is why some people are focused on selling expert after expert and ebook after ebook. And will not put one cent in trading.

The next post Focuses on Making money from “FOREX TRADING”

olalol:
what about FXPRO BROKER

FX pro is ok

Just this afternoon i posted a request on forexfactory.com for an edit to an indicator i use and within minutes a coder edited it. FREE CODING SERVICE!

Now, if coding can be free, how much more tutorials ?

Today alone i downloaded about 5 interviews of traders , just for my viewing pleasure https://www.youtube.com/channel/UCdnzT5Tl6pAkATOiDsPhqcg FREE INSPIRATION

there are millions of forex resources on the net and traders willing to help you the best way they can. for free!

I just signed up to a free VPS service from amazon aws.amazon.com for one year of elastic cloud service !! FREE VPS FOR MY EXPERTS

please. whatever you need is sitting somewhere waiting for your curiousity to push you to it.

you need to hang out with the right crowd to get to the summit of your chosen field

Don't let intellectually lazy and mediocre minded people tell you rubbish.

Go to the forex trading alerts thread and see if you wouldnt catch one or two consistent traders there.

Do not buy any forex material its all free stuff recycled from the internet.

.

trafftrade:
Am giving out over 40 premium courses on forex trade for a token to anyone who message me using my signature below

Stop promoting your junk on this thread

rozayx5:
I live off trading


But truth is that I have paid the price over the years learning wise

Aside that trading is not for every one

I don't advise people to trade cause the learning curve is expensive

Please don't reply him, he is trying to derail the thread.

I will soon be done with this thread so people like him can have a filled day here and go back to selling provisions and foodstuff

BioTeck:
Please add information about BinaryOptions Trading too if you don't mind. I belive it'd also help considerable numbers of binary traders. Thanks.

I don't know enough about binary options to talk about it.

Those of you saying he is not a Nigerian obviously don't know yahoo boys

There are some yahoo boys that still cant type on a keyboard. They only use phones

Many yahoo boys cannot spell not to talk of creating sensible sentences.

How they hammer is the million dollar question

Hush puppy wannabe

eric4real:
what matters is not the amount you start with but your consistency in the forex market

Hello.

The dude that quoted me got that comment from an entirely different thread and is trying to troll

From my topics, you'll see I bought 40,000 Canadian dollars in the beginning of the year.

I cannot reply every loser on this forum.

Thanks for the advice though. I advice people to start small. With at least 1,000 dollars. If you can succeed small, you will become big on the FX market

My goal is to enlighten, but not teach trading. I'm trying to stay focused on that.

Thanks again.

These schools look like missionary schools.

redsox11:
What if I told you Myfxbook you commented on is not real? what if I say it's fake?

Don't believe anything you see on face value, don't have take a screenshot of Myfxbook, take the url and check yourself.

You can simply edit my Myfxbook by right clicking and click on inspect, then you can edit and take a screenshort of whatever you want anyone to see.

It's dog eat dog world. Just putting this out there, guys be careful.

Cheers.

The moment i saw your screenshot i went on myfxbook and SEARCHED for your system's name, got it and i;m tracking you. (its not new info myfxbook can be altered)

I requested to reach out to you to talk about some things (publishing included) but you ignored me.

There are serious people watching this thread... but with all the child's play here nobody will take anyone here serious.

All is see here is a pissing contest and screenshot wars. set yourself apart with a real time publishing account with at least $500 of real funds and aim for green till the end of the year and watch 2018 become a good year.

FXmanager

I have ignored your promotions on this thread because your trading style and result has some potential. But you are going about this the wrong way and it is already derailing this thread.

This thread was meant for educating people. Your promotions on every thread is quite selfish and a bit too agressive.

Get a live account and trade on it for 3 months and put it on myfxbook's autotrade and you will never need money again.

Please don't promote anything on this thread again. Thanks

JerryQ:
Hello mates, how is trade going and hope the land is green? i have decided to have a one hour interactive session with traders still having challenges in making consistent profit from the market. An hour when you can ask me questions related to trading as i hope to answer them. I have 10 years of trading experience and i think i can help someone. You can see how we made about 300% profit on an account this month from the pics below. i always think in terms of profit not pips so you know. The interactive session will be held on this thread on Sunday from 7pm to 8pm. So, set your reminder.

Cheers!

If you cannot post a myfxbook URL or any other publishing URL, you're nothing but a noise maker.

Only a slowpoke will fall for a screenshot.

Post your designs on the first page.

For your own good.

gmaribel:
God bless you

Lots of scams about Forex out there and many people who don't know fall into their traps.

You can't learn how to trade profitably just by attending a weekend seminar.

You can't profit from forex trade if you are using a shady broker. (You can recognize them by their juicy leverages 1:1000 constant adverts online and how they are regulated )

If you are not patient and disciplined to follow fixed rules Forex trade is not for you.

Learn with a demo account and master your strategies before going live.

Thanks op

you are welcome. i hope i have more time to finish what i have started

this was the thread that motivated me to create this thread.

https://www.nairaland.com/2816281/why-online-forex-trading-fraud

None of those people who are tagging FX a "scam" were well educated on it. (even those that think they are)

the same way the bitcoin/cryptocurrency preachers are on the radio... ignorant people will jump into it, get burnt and call it "scam"

NEXT: Making money in the forex market

Part 3: Making money in the FOREX market (the intro)

Before I go fully into this chapter, lets see how profitable Forex trading really is.

The biggest lie in the FX trading industry is that only 5% of traders are successful. (some people say 3%)

I cannot say where this lie came from but I know marketers, affiliates and teachers spread this falsehood to scare people into patronizing them.

In fact, FX trading is considered less risky than many businesses.

The American regulatory body NFA requires retail brokers to provide a profitability report every three months . This report summarizes how profitable their clients are and how many accounts were created or closed. (you see how regulators define transparency)

I have tabulated the average profitability of retail traders in america over 5 years (can't lay my hands on latest reports)

Average Profitable Accounts in the U.S
Year: Q1 Q2 Q3 Q4
2016 32.5% X X X
2015 34.2% 32.3% 31.4% 35.0%
2014 35.6% 37.9% 37.3% 35.6%
2013 34.0% 35.0% 31.0% 31.6%
2012 34.0% 32.3% 33.24% 34.3%


As you can see the average amount of successful traders in the U.S is 30%

Other Sources have showed that this number is increasingly globally with the introduction of social trading and more transparent brokers.

There is a reason North american traders are considered one of the most successful. But there are strong indications that UK brokers have the most successful retail traders.

To those who will bother looking at the links themselves here. There is a broker that records an average of 43% successful accounts every quarter for 5 years. look at the attached image to see it

These numbers are a reason (among many) that you can succeed in FX if you do things right.

Part 2: FOREX trading is not for everyone

Like any endeavor, there are necessary traits attached to success. Champion athletes have certain natural or developed abilities (traits) that enables them excel easily.

Not everyone can be a soldier, Doctor, Porn star even yahoo boy, so why should FX trading be any different.

These 2 articles will help you figure out necessary traits required to be a succesful trader
21 signs you have what it takes to be a Forex trader

Unique traits of successful Forex traders

i'll just point negative traits that should make you avoid FX trading.

1) If you don't like knowledge
If you are never curious, Never questioning, unlearning and re-learning, watching documentaries, Tutorials, Teaching yourself... Just forget FX trading. You will not go far.
Because there are few academies that formally train FX traders, Most FX traders are self taught.
Ebooks, Forums, Videos are abundant on the internet with free resources that will help

Just stick your gossip blogs and celebrity news and use your money to buy some expensive gadget than blow it on FX. It is not for you

2)If you are a mediocre

If little success scatters your brain or little failures makes you give up. Forget FX trading. If you never strive for perfection, or put in your best at all times to doing things exceptionally well. Save your money. You will Fail
Stick to your 9-5 jobs that allows you mess up and still make money. FX is not for you

3)If you are emotionally unstable
If you are not resolved and can stick to decisions you have made through logical, analytic thinking.
Simply put, if you do not think or avoid analytical thinking just avoid FX trading. It involves using your brain every week day and even in your sleep.

4)If you like short-cuts
The forex market is considered a perfect market in economics where demand meets supply at all times. With well grounded knowledge, A good strategy and patience you will succeed.
If you enjoy cutting corners or gambling (reckless risk taking) you will lose at the end.

These are the few traits I can think about

NEXT: Part 3: Making money in the FOREX market

xdos:
Kindly explain what 4 digit is

Since the response is delayed, i should take this up for educating others.

"4 digit" refers to the forex brokers pricing. so its actually 4 digit pricing

Lets assume the Naira dollar rate is N364.42116, Most banks and dealers round this figure up to N365.00 to save time and other things.

Same with brokers or as revealed earlier "Market makers"

Because their price was not coming directly from the liquidity pool. market makers rounded up 5 digits into 4 digits. so 1.20500 (5 digits)will be rounded to 1.3000 (4 digits). these micro pennies was another income earner for these shady brokers

but with time (and stricter regulation), most broker dropped this and opted for direct feeds from the markets and earned commissions like stock brokers.

so in summary, 4 digit pricing has one digit missing (which goes to the broker's purse). 5 digit pricing is the real deal ...supposedly

Donharrie:
@OP

you have good write ups and info but shading another's name with the aim of sharing an info is very unwise and made me loose interest in all your good normal articles we can find anywhere.

You called sandile shezi an idiot, when did earning commissions become an offence?

Please wise up and let us know your motive for all this randomised normal articles you picked up on net.

You deserved to be permanently banned for shading others unjustly.

If you are offended get off my thread. do i strike you as someone who aims to please anyone.

Sandile claims he made his millions TRADING FOREX and DROPPING OUT OF SCHOOL AND USING HIS SCHOOL FEES AS CAPITAL.

then further makes people believe they can learn forex by mild training.

This is a case of false advertisement. this is the reason many people have been burnt. because they have been promised heaven on earth. I used sandile because i have strong affiliations to south africa and he can be easily watched on youtube.

i am summarizing my knowledge, if i should list the scammers you might blow up then.

his wealth is only mythical. his claim to be the youngest millionaire in south africa is laughable knowing the european families that control the mines in that region. But he has made the average university student think they can strike gold and drop out to trade forex.

I LIVE ON FOREX TRADING. yet i have refused everyone who has messaged me for lessons because i know the sacrifice involved in learning FX the right way.

and if i find out you are a marketer selling his FX goods with deceit . i will shade you too

My father lost over 40 million naira on the Nigeria stock market because radio gurus were telling him to buy and never when to sell. those quacks have sold their magazines and earned their commissions but do they know the larger effect of the deceit they're spreading? this is what sandile is doing. You can never drag someone into FX trading if you really know what it entails!

*** I just checked your profile and noticed you are an internet marketer just like your friend Sandile. Forex trading is a blood sport. if you will go to the internet to market an art as dangerous as this. you should at least come out clean. at least for the sake of Jesus, your savior.

i Numbered the picture to help you identify what i was talking about.

trying to figure out how to place pictures within the body of posts has delayed me by 2 days (plus the banning)

the second picture shows that all the accounts this trader (killer) handles has very high drawdown. and that says alot about his person not even is trading. you can tell he doesnt learn from his mistakes and will keep doing the same thing hoping it will turn around one day (gambling)

the third picture is a negative review that confirmed my thoughts on him.

NEXT POST

Spotting a bad account in HD

Even Verified accounts can be a death trap. Here's a primer on spotting one

There are several account publishing sites on the internet. These are example of the major three I know.

1) Myxbook Click on Text

2) MQL5 Click on Text

3) Signalstart Click on Text

There are hundreds of accounts on these publishing sites. Lets run through the signs of a bad account even if verified. (I will also show you how forex traders make millions monthly using these sites... much later)

Lets see what to look for using the pointers i've listed in my previous post (account age , Drawdown, strategy applied & other factors)

Lets analyze a typical account a quack can use to lure the scam screamers.

I CANNOT POST PICTURES IN THE BODY OF THE POST. I HAVE TRIED ALL I CAN. SEE BELOW FOR ATTACHMENT. If anyone can help let me know how to do it

* this account has earned 1,874% (quite impressive but is it verified )
1 The account is verified (the account is owned by the publisher and the history has not been altered) ….but how old is it ?

2. The account has been active since June 2014 (Jesus! Its 3 years old. Thats older than my neice) .. let me check the risk appetite of the trader then give my life savings to this trader

3 Drawdown 84.3% ! Thats almost 90% of my capital almost wiped out.

4 Current equity is 15% ! (equity is the current balance minus the open trades) you mean this dude has 85% losing trades open. Why the F*** is he keeping them floating

6 Look at the equity curve nosediving like a sosoliso plane.

5 let me see other factors like the reviews. He might be a good guy. Oh snap, someone already confirmed my fears...

...this guy is a CLOWN ASS QUACK! RUN !

Look at all the accounts of this killer. Everything has a drawdown of over 70% its almost as if he is on a mission to make people poor. Lol

xdos:
Hello Dow... there was an Alpari advert on tv and that caught my interest. But from your post, it sounds like it isnt safe using Alpari. They called me and made promises. Said even if I dont have time, they got professionals who could handle it for me.

Please throw more light. I am interested in FOREX.

Since Alpari declared bankruptcy on january 20, 2015 and the FCA UK took over, Alpari has been blacklisted.

Although they still fraudulently claim they are FCA regulated. thats a lie from hell (Red Flag #1)

Here's an annoucement from FCA declaring Alpari bankrupt https://www.fca.org.uk/news/statements/news-customers-alpari-uk-limited

Now you see why the regulator is the most important thing. FCA made sure most of Alpari's 100,000+ clients got their money back and they are still paying. Imagine if this happened in cyprus?

Alpari is more or less a technology provider (like blackberry). Any office you see Alpari claiming as a "branch" is just an independent business man using their brand name and tech. (server, price feed, Liquidity. etc)

Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Moldova, Georgia, Mauritus, Belize, St Vincent and the great NIGERIA

Look at the 11 countries Alpari is operating from? Does this raise raise a red flag already ?

Now, to make it worse, All these countries do not operate with supervision from Alpari. They run independently. If you think i'm playing, go to the Alpari global website and act like you have a complaint about withdrawal. They will tell you point blank you should sort it out with the Nigerian office.

Now imagine Nigerians with your money with no regulation to put them on check.

I have a couple of things to say about the Nigerian office. but to avoid a long post. i will stop here

DO NOT USE ALPARI.or use them with chicken change.

.