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Many people like trading foreign currencies on the foreign exchange forex market because it requires the least amount of capital to start day trading. Forex trades 24 hours a day during the week and offers a lot of profit potential due to the leverage provided by forex brokers. Forex trading can be extremely volatile, and an inexperienced trader can lose substantial sums. The following scenario shows the potential, using a risk-controlled forex day trading strategy. Every successful forex day trader manages their risk; it is one of, if not the most, crucial elements of ongoing profitability.

Best forex broker in nigeria the richest non investing voltage comparator schematic

Best forex broker in nigeria the richest

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Still, she neglected all barriers on her way and proved everyone wrong. Afioluwa is also an example of a person who started Forex trading with losses. While being an entrepreneur himself, he decided to take on a new business opportunity and found out that Forex trading was a chance of getting rich quickly. Investing a huge amount of money had its drawback, and initially, Afioluwa lost a lot of money. It was a huge disappointment for a person whose friends made a fortune from Forex trading.

He understood his errors, where he made mistakes and started learning to master trading strategy. Eventually, everything worked out, and he established himself among top Nigerian Forex traders. Afioluwa became such a successful trader that even his associates and close friends entrusted him with their money at some point. He had a strategy that was profitable all the time. He did not stop — a mistake which Forex traders make frequently, but he continued improvement and earned himself a place among the top 10 richest forex traders in Nigeria.

He explained that Forex trading was entrepreneurship for him, and while others would give up after suffering losses, he saw it as a motivation. Right now he has become famous in Nigeria for training other Forex traders as well. He conducts seminars on trading psychology. Currently being Senior Sales Executive, Benjamin Ilesanmi Ajimoko has also achieved success in Forex with proper mindset and psychology.

After trading for some time, he established himself as a teacher rather than a trader to provide key insights for people interested in trading. He explains that people who come into the market with a desire to earn millions in a blink of an eye often end up in losing positions. They trade emotionally, thus becoming the victims of failure. In order to become a successful trader, as Ajimoko declares, an individual needs to have a vast experience in Forex trading. Trading is a discipline, and one who is not attached to the discipline will make more losing trades than winning ones.

Open a demo account with XM. Based on the experience and results of the top five richest Forex traders in Nigeria, we can point out several key points based on the experience of people mentioned above, which would be good for everyone to pay attention to. The very first instinct to everyone would be planning for making huge money in a short time.

An excessive desire to make money on Forex leads to greed and excitement, the desire to win back after each unsuccessful transaction immediately. Having succumbed to emotions and thirst to get a big jackpot, you will cease to be guided by the rules of the strategy and begin to make ridiculous mistakes that will grow like a snowball, and as a result, will lead to even greater losses or a complete loss of the entire deposit.

The experience of Ajimoko is an obvious example of that. Another thing is the control of emotions. Every trader described above managed to contain their emotions. Trading can cause strong emotions in people — and this is not surprising. When you try to make a living for yourself, and when every transaction can destroy your entire trading account, it can be very stressful.

One of the keys to controlling such strong emotions is not to risk so much of your capital in one transaction. Nigerian traders looked at Forex trading as a long-term game, not a lottery or an all-or-nothing offer. They managed their risk and kept their anxiety to a minimum. This helped them maintain their nerves and position themselves well in order to take the next step to make them profit from Forex. The final insight from the experience of the top Forex traders in Nigeria is choosing the correct strategy.

The trading method that determines your trading decisions every day should not contradict your personality. If you feel that you are not capable of losing a significant part of the profit for your current position, then the strategy for following the trend is not for you, because you simply can not stay in it. This aspect of trading is very important because if your trading methods are profitable, you will not be able to use their potential due to external factors: psychological stress, lack of time, etc.

If you decided that trading Forex is attractive to you and you are ready to jump into the waters of Forex, it is time for you to choose the most reliable broker that will assist you with the best available tools. Anyone familiar with forex trading in Nigeria would know about XM Forex broker, providing one of the most notable brokerage services worldwide. Setting up an account with the XM Forex broker is a relatively easy and safe way to start trading Forex.

When choosing the broker to start trading with, one has to consider a number of factors, such as reliability, credibility, and availability in your residence country. There are more and more brokerage services available for Nigerian traders and few of them stand out with their exceptional services and strategy focusing on the satisfaction of their clients. Below is the list of the top brokerage service providers for traders from Nigeria. Uche Paragon, who is the richest forex trader in Nigeria has an estimated net worth of 16 million USD.

Uche Paragon was still very young when he started trading with the currencies on Forex and it did not take long for him to start generating profits. He joined the list of successful Nigerian traders a few years ago and remains one of the notable figures in Forex trading history.

The youngest millionaire in Nigeria is just 29 years old. The best forex trader in Nigeriawould have many nominations, however, there are few names deserving to be on the top of the list. Uche Paragon is definitely one of them, currently named as the richest trader from Nigeria on the Forex market, with a net worth of over 16 million USD. Uche started trading at a very young age and from the very beginning, he preferred trading Forex over any other markets, emphasizing its easy-to-reach availability and comfortability for the ones who have trading skills and are able to come up with unique trading strategies.

The richest Forex trader in the world is George Soros, famously the man who broke the Bank of England. His net worth is over 8. George Soros has spent at least half of his life in the trading business, especially trading Forex until he hit the massive profit of a million USD in a single night of — betting against the British Pound BGP during the British currency crisis.

Since then he has been the giant in the Forex market as the most respectable and the most successful Forex trader out there. Financial Leverage Established Register Here Learn more. Starting Capital ZAR 1, Trading Software MT4. CM Trading. The idea of entering the trading world of Forex can be intimidating if the plans, goals, and means are unclear.

For that and many other reasons, the best brokers around the world are trying to support the first-timers as much as possible, making it simple and comfortable to start off the first real trading account. XM Forex broker is one of the most respected and recognized brokerage service providers, which is more than happy to welcome the new traders from Nigeria and might as well be the best forex broker in Nigeria.

Even though setting up an account at XM is quite easy, we prepared a step-by-step guide for the trading rookies. Follow the steps below in order to register with XM:. The main page of xm. The first option is a demo account, which you should choose in case you want to try out the simulation of Forex trading without involving real money. However, the real profits cannot be generated with the demo account.

The registration page will prompt the form with the to-be-filled bars asking for your personal details. Fill in accordingly your first and last names as they are provided in your ID or Passport. Choose the country of your residence and the website language that you prefer.

The phone number and an email address should be valid, meaning that when the confirmation link is sent to your email, you should be able to verify it. It is not possible to have multiple email addresses attached to a single account. The trading platform type should be indicated according to your trading goals. MetaTrader4 MT4 is the top choice if you have decided to proceed with trading Forex.

However, for any other choice, such as, CFDs on stocks, equity indices, metals and energies, MetaTrader5 MT5 is the better option, which can also be used for trading Forex, even though it was not specifically designed to suit Forex traders, unlike MT4. You can check more information regarding the differences between specific account types on xm. If you have no specific preference, it is better to proceed with the Standard Account. The registration form requires personal and address details to be filled exactly as they are given in your supporting and legal documents.

Choose the correct date of birth data and residential address details as they would be provided in the proof of residency. Also, mark the appropriate answer whether you are a US tax-payer or not. Select the corresponding preferences in the trading account details section by indicating the account base currency and whether or not you want to be the account bonus recipient. Continue on choosing the correct options in investor information by approximately marking the amount of investment that you are intending to deposit and the intended purpose and nature of the transactions.

Select the status of employment, along with the nature of the business in case you are employed or the sources of your funds in case you are not. Indicate your level of education, your estimated revenue, and estimated net worth. Complete the form regarding your trading knowledge and experience by choosing appropriate statements regarding them. Choose what kind of professional experience or qualifications you own which would help you in trading; the amount of OTC trades over the past 3 years and if your trades over the past twelve months were at least 25 on a demo account.

Trading knowledge is not obligatory, as even the richest forex trader in the world started with no inherited knowledge regarding trading, but acquired it gradually. However, the information regarding your trading experience will help XM to better assist you during the process of trading. Choose your account password and submit the form. Afterward, you receive the confirmation link on your email address, which you have indicated during the registration. Proceed with the link inserted in the confirmation mail and your account will be verified.

The website will automatically be redirected to the Members Area login page, where you should type in the password that you have set during the previous step. Finally, the users are required to upload supporting documents, such as ID and proof of residency and you are ready to start trading with your real trading account. All three of them are considered the best traders of Forex history. George Soros is known to be a famous philanthropist, therefore he donated most of his fortune to charity, but still remains as number one in the list of richest Forex traders.

Bill Lipschutz is estimated to have 8. Jabulani Ngcobo is considered to be one of the most successful African self-made millionaires, earning most of his profit through trading on Forex markets. Ngcobo is also conducting many educational events, including the biographical and financial educational masterpiece by him — Cashflow Naked. His net worth is approximately 2.

In the past years, more and more traders are coming into the light from Africa and many of them dominate the Forex industry, therefore the list of richest traders for Forex in Africa will be as volatile as the market itself. There are increasing numbers of Forex traders from Nigeria and Uganda, who are ready to compete with the best traders worldwide. As Nigeria, Uganda, and other successful Forex trading countries from Africa continue to strive, it is unclear how the full picture will change in the upcoming years.

As per the official information, Uche Paragon net worth is accounted for 16 million US dollars. Uche Paragon is maybe the youngest self-made millionaire in Africa and has proved to be one of the most successful Forex traders, as well. Paragon did not have any education in Forex trading before he came up with one of the articles on the internet regarding Forex trading and decided to try it himself.

He dedicated some time to explore the various strategies and techniques, the trends in the market and when he finally entered the world of trading he was already well equipped with the knowledge necessary to succeed. Uche Paragon, who is the richest forex traderin Nigeria is expected to appear on top of the list of best and youngest traders both on the continent and maybe even in the world.

Home - Forex trading guides will help you start trading and succeed - The most successful Forex traders in Nigeria you can learn from. The most successful Forex traders in Nigeria you can learn from Forex trading is getting in the center of attention of many young people nowadays and Nigeria is not an exception. Uche Paragon The story of Uche Paragon is something that everyone can relate to simply because he went through the same learning cycle about Forex trading as you might be going through just now.

Bade Ajidahun Afioluwa Many people who want to be the next richest forex trader in Nigeria think that Forex trading is a get-rich-quick kind of business that can make you wealthy almost overnight. What can you learn from Nigerian successful Forex traders? How can you start trading Forex yourself? Follow the steps below in order to register with XM: The main page of xm.

Who are the richest Forex traders in Africa? What is the net worth of Uche Paragon? Comments 0 comment s Comments are closed. Read review Get your bonus. Register Read review. Best 10 Movies About Stocks to Watch. SA business confidence level back to pre-pandemic levels.

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Top 8 Best Forex Traders in Nigeria and Africa At Large to Follow

is Nigeria's wealthiest currency trader, with an estimated net worth of over $16 million. Along with being an active forex trader, Uche is the owner of two forex trading colleges, one in Lagos and one in Port Harcourt. Damilare Ogundare popularly Known as HabbyFX or Habby Forex is considered by many Nigerians in the Foreign Exchange industry to be the. 1. Uche Paragon – Richest Millionaire Forex Trader in Nigeria · 2. Bade Ajidahun Afioluwa – #2 Best Forex Trader in Nigeria · 3. Olufukeji Ejimi.