Online trader is a new generation profession that appeared only in the 21st century with the development of the Internet. An experienced trader can earn thousands and tens of thousands of dollars, with a free work schedule, having only a computer, a tablet or a smartphone at their disposal. However, it can take years to become a professional. The money spent, the nerves, and most importantly, the time, for many turn out to be an unbearable price paid for the experience gained. Moreover, the result is far from obvious. After all, numerous stories have been heard about people who lost their money trying to trade in financial markets.
This is all true. And, unfortunately, not everyone can become a successful trader. Just like not everyone is born to be an astronaut. But, as the ancient saying goes, there are at least two ways out of every hopeless situation. In our case, these are financial services PAMM and Copy Trading, which allow you to take advantage of someone else’s success on mutually beneficial terms.
What is PAMM and How It Works
PAMM (from the English PAMM – Percent Allocation Management Module) is a simple passive investing service that allows you to transfer your funds to the management of one or several successful and experienced traders who will trade for you, retaining a certain part of the profit as a reward. No profit, no reward.
A huge plus of this service is that the trader trades not only with the funds of investors, but also with the trader’s own money. This is a prerequisite, which significantly increases the responsibility of the trader and the quality of their transactions. After all, if something goes wrong, the trader will, in the first place, lose their personal capital.
PAMM is one of the services that clients of the international brokerage company NordFX receive. This broker not only provides a platform for trading currencies and crypto-currencies, stocks, oil and precious metals, but also provides transparent cooperation between the investor and the trader. Thanks to this, you can be sure that all of the trader’s obligations, including financial settlements, will be fulfilled on time and with 100 percent accuracy. The trader does not have the slightest opportunity to spend your money for personal needs, use it in other inappropriate ways or steal it. All work takes place under the scrutiny of NordFX, a company in which clients from 190 countries have opened more than 1.500.000 accounts, and which has been receiving professional awards as the most reliable broker for several years.
At the same time, you choose the trader to whom you want to entrust funds to management. NordFX will provide you with their trading history and statistics, including almost 50 parameters, thanks to which you can decide if their trading strategy and risk/reward ratio are right for you. It is clear that the higher the profit, the greater the risks. Therefore, many investors start with modest amounts, from $100 and up, to understand how everything works in practice.
How to Invest in PAMM in a Few Minutes
1. First you need to register on the website of the brokerage company NordFX. This happens online and takes only two minutes. Please provide your real name and last name, your email and mobile phone number. After confirmation, go to your Trader’s cabinet. It is also possible to register via social media.
2. Then, in the Trader’s cabinet, click on the “Dollar” icon and select “Funds Deposit”. The company allows you to choose any convenient method of deposit of your choice: international bank transfer, VISA/Mastercard bank cards, many electronic payment systems. Top up your account with the amount you plan to invest.
3. After depositing, we proceed to choose a manager. To do this, the NordFX broker has a transparent rating on the managers’ “showcase” that includes all the necessary information: account age, growth charts, balance size, maximum drawdown and profitability, as well as many other statistics.
It is necessary to understand that a trader can conduct both successful trading and suffer certain losses at some point. Therefore, we recommend investing your funds in several managers at the same time, forming your own investment portfolio. This will significantly reduce risks and allow you make a profit, even if one of the traders makes several unsuccessful transactions.
How Much You Can Earn Investing in NordFX PAMM
The main advantage of the foreign exchange market is unlimited profitability, which can be many times higher than the interest on bank deposits. Traders can earn tens or hundreds of percent of profit per month for you. It depends on their trading style and strategy aggressiveness. The more aggressive the strategy, the higher the profits and the higher the risk for the investor.
For example, let’s look at the profitability chart of the first (at the time of this writing) trader in the NordFX rating (Fig. 1).
For thirty-one days of his trading, this trader managed to make a profit of 74% of the initial deposit. That is, if you had invested $1000 in it, your account would have grown by $740 in a month. In case the trader’s reward is equal to 30% of the profit, your earnings will be 70% or $518. Not bad at all: in just a month, an increase of more than 50%, and this despite the fact that you yourself did not have to make any transactions, the trader did all the work for you. But the risk with such a trade is not small: the drawdown (negative difference between funds and balance) had reached 58% at some point.
The second example is a trader who has been trading steadily for half a year. During this time, they showed a return of 56%, but the drawdown did not exceed 15%, thanks to the use of a more conservative strategy.
What is NordFX Copy Trading
The second lifesaver for those who are unwilling or unable to trade on their own is Copy Trading. The basic principle is the same as that of PAMM: an experienced trader trades and earns, and you get the same profit as theirs. The commission is charged on the profit, so if they earned for you, you pay, if not, the trader is left without a reward.
But besides the similarity, there is also a major difference. In the case of Copy Trading, you do not transfer capital to a trader. It’s just that all their transactions are automatically copied to your account. Thanks to this, you get the opportunity to personally control everything that happens to your money, and you have full information: when and in what direction the trader opened a transaction, what volume, for what trading asset. And in the event of force majeure, you can close the trades you do not like yourself and disconnect your account from the signals of a particular trader.
The investment scheme here is in many ways similar to the PAMM and consists of the following stages:
1. Opening a personal account at NordFX;
2. Depositing the necessary sum (you can start from $100);
3. Selecting signal providers in a transparent rating (in other words, traders whose trades you will copy);
4. Forming your own investment portfolio;
Many newbies may be worried about the inconsistency in the amount of capital between a trader and an investor. However, do not worry about this, since the system will automatically select the required volume and adjust the ratio. At the time of subscription, a window will pop up where you will need to specify the amount of your capital that will be used for copying. You can also customize the conditions of copying for yourself and your deposit.
NordFX Copy Trading is immensely popular among investors and traders due to its potential profitability and cost minimization. For example, a trader who takes an honorable second place in this rating has demonstrated a return of 480% in 40 days of their work (Fig. 2). At the same time their reward is just 10% of the profit.
Of course, this example shows an almost perfect picture of an aggressive investment. Moreover, in reality you can earn even more. But, we have to repeat: in the pursuit of superprofits, you can just as well lose all your capital. And no honest trader will guarantee that in the future they will show the same results that they had in the past. Therefore, before investing in financial markets, you must assess your capabilities realistically, and in no case risk all your funds.
If you still have questions left, you can always contact the NordFX Support Service. You will also find answers to many of them in the corresponding sections on the website of this brokerage company.
Fidelity restates support to small business as Enugu First Lady, ABCON commend bank
The webinar is part of concerted efforts to assist entrepreneurs unlock their full potentials and take their businesses to the next level of growth.
Fidelity Bank Plc, top Nigerian lender has reaffirmed its commitment to enhancing the productivity and prosperity of Micro Small and Medium Enterprises (MSMEs) in the country by providing capacity building and advisory services, innovative funding options and other forms of relevant support that would significantly improve their overall contributions to national development.
Fidelity CEO, Mrs. Nneka Onyeali-Ikpe gave the assurance at the Fidelity SME National Capacity Building Webinar organized by the bank for entrepreneurs in Enugu State, in collaboration with the Enugu State Ministry of Trade and Commerce and the Enugu SME Centre; Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); Nigeria Association of Small & Medium Enterprises (NASME) and Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA).
The webinar which will take place across the country on a state-by-state basis, is part of concerted efforts to assist entrepreneurs across all sectors of the Nigerian economy develop requisite capacity to unlock their full potentials and take their businesses to the next level of growth.
Mrs. Onyeali-Ikpe who during her remarks on Wednesday provided insights into the bank’s unique approach to managing MSMEs, pointed out that SMEs which are businesses with less than N100m annual turnover contribute about 48 percent of national GDP, account for 96 percent of businesses and 84 percent of employment in Nigeria.
She noted that despite the significant contribution of SMEs to the Nigerian economy, challenges still persist that hinder the growth and development of the sector. Chief among these are funding, lack of infrastructure, poor management, low entrepreneurial skills, improper planning, poor digital skills, etc. The Fidelity CEO however noted that the webinar seeks to proffer appropriate solutions to these challenges in a very practicable manner.
“We have a dedicated SME Desk with innovative products and services to assist your business. Fidelity Bank, in partnership with various private and public institutions provides funding, business advisory services for all our customers. This webinar is an excellent opportunity to network, share information and deepen the SME sector in Enugu State”, she explained.
Themed “Funding and Financial Management”, the Enugu Edition had in attendance special guests including Mrs. Monica Ugwuanyi, First Lady, Enugu State, Sir Robert O. Anwatu, Managing Director/Chief Executive Officer, Roban Stores, and Mr. Chiedozie Atuegwu, Director, Michelle Laboratories Limited, amongst others.
In her remarks, Mrs. Ugwuanyi applauded the bank for its unrelenting support for MSMEs in Enugu State, stating that the Ifeanyi Ugwuanyi-led administration remained at the forefront of SME development in Nigeria as exemplified by its continuous investments in infrastructure deployment and provision of labor policy frameworks to further encourage investments.
Speaking in the same vein, President, Association of Bureau De Change Operators of Nigeria (ABCON) (ABCON) Dr. Aminu Gwadabe commended the bank for its sustained efforts at promoting MSMEs nationwide. Gwadabe noted that the bank had been very supportive to its 5,000 licensed members nationwide. “The Bureau De Change (BDC) does about N1.4trillion per annum. Fidelity Bank controls 60 percent of these transactions in the country”, he explained.
Whilst shedding light on the dynamics of the Bureau De Change sector, Dr, Gwadabe revealed that exchange rate stability was determined by the country’s SME structure. Given the immense potentials inherent in the nation’s MSME space, he said that the fledgling sector, if properly positioned, could assist the Central Bank of Nigeria (CBN) achieve its mandate on exchange rate stability.
Click here to watch the full webinar.
Due to recent events, is Remitano P2P the remedy for Nigerians to buy Bitcoin in Nigeria?
Remitano P2P crypto exchange is an escrowed marketplace where crypto buyers meet crypto sellers.
It’s no longer news that the Central Bank of Nigeria popularly called CBN has placed a ban on cryptocurrency in Nigeria. With this ban in place, it is no more possible for Nigerians to buy Bitcoin from their usual exchanges with their debit cards or directly from their Nigerian bank accounts. What’s worse is that a lot of crypto traders now have their assets stuck in their exchanges as they can no longer withdraw directly to their Naira account. This sudden move by the CBN put the Nigerian crypto community in a state of frustration.
In compliance with the crypto ban, Nigerian commercial banks have begun to freeze the bank accounts of people that are associated with crypto. This ban on crypto placed by the Central Bank of Nigeria has indeed affected the people’s ability to buy bitcoin in Nigeria. A lot of people have now resorted to buying Bitcoin the old fashion way, offline purchase. Unfortunately, many of these people have been scammed of their hard-earned money simply because they had to deal with some unscrupulous few who set out to defraud those who want to buy Bitcoin. It’s like being stuck between the devil and the red sea!
So the question on every Nigerian crypto lover’s mind is – “How do I buy bitcoin safely without getting my bank account blocked or getting scammed?” Well, the answer to your question is – “Remitano P2P exchange!”
What is Remitano P2P Crypto Exchange?
Simply put, Remitano P2P crypto exchange is an escrowed marketplace where crypto buyers meet crypto sellers. With Remitano P2P, you can sell and buy Bitcoin in Nigeria from anyone without fear of being scammed or fear of your bank account being frozen. This is because Remitano acts as an escrow between the seller and buyer to ensure a smooth transaction process.
Remitano P2P is currently the leading P2P platform in Nigeria, South Africa, and several other countries. After being in existence for quite a number of years, Remitano has continuously evolved over the years to provide the perfect marketplace for both crypto buyers and sellers thereby creating a high level of trust in the crypto community.
Remitano is so confident in their ability to deliver that they guarantee all transactions are completed within 15 minutes of initiation. In the event that a transaction is not completed, compensation of 50% of the transaction fee will be refunded to the user.
In addition to this awesome service, Remitano offers the simplest and easy-to-use user interface that anyone with or without computer knowledge can interact with. Remitano also has a responsive and friendly customer service available 24/7 to provide help to buyers and sellers whenever needed.
It takes only a few steps to buy Bitcoin and other cryptocurrencies on Remitano. All you need to do is to choose a buyer you would like to buy Bitcoin from, send the Naira equivalent to the seller’s bank account. Once receipt of payment is confirmed, Remitano releases the Bitcoin into your Bitcoin Wallet.
Remitano is a product of Babylons Solutions Limited based in Seychelles. Remitano’s purpose is to offer a robust, quality trading experience to all users as a fast-moving marketplace. With necessary safety standards in place, buyers and sellers can come together, store, trade, and withdraw assets, thus avoiding issues common to other crypto exchanges.
Launched in 2014, Remitano is a global cryptocurrency exchange serving international markets, such as Malaysia, China, Nigeria, Vietnam, Australia, Cambodia, and Indonesia.
Reach out to Remitano via:
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