• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate Updates

How can you trade currencies like a pro?

NM Partners by NM Partners
January 13, 2022
in Corporate Updates
Cryptocurrency , Naira

Image credit: Nairametrics file

Share on FacebookShare on TwitterShare on Linkedin

Currency trading is one of the most volatile and liquid markets globally. It has a volume that exceeds nearly $6 trillion each day. Due to the high volume, forex attracts millions of investors daily from various fields. In addition to professionals, doctors, engineers, lawyers, etc., take their place amongst retail traders. The ongoing coronavirus crisis has added to the increasing numbers. Our article will discuss how traders can make money from the forex market and what tools are necessary.

Important Terminologies to Know

Let us go through a few characteristics of forex trading that every currency trader should know.

RelatedStories

Medical tourism: Why many Nigerians can no longer go abroad for treatment  – Olakunle Onakoya, Cedarcrest CEO

Medical tourism: Why many Nigerians can no longer go abroad for treatment  – Olakunle Onakoya, Cedarcrest CEO

July 19, 2025
United States extends period for work permits for non-citizens

U.S introduces new immigration fees for asylum and work permit applicants, effective July 22 

July 19, 2025
  • Margin. Leverage is a common way to open big lot sizes. It is borrowed money available from the broker that traders can use to their advantage. Many exchanges can provide wide leverage of 1:3000; however, traders should consider that exceeding margin requirement can result in liquidation.
  • Currency pairs. Traders generally classify forex pairs into the following categories—Major, minor and exotic. The first includes six currencies, including JPY, CAD, AUD, GBP, EUR, and CHF, paired with the United States dollar. The second involves all the minor economics with one another without including the USD. The last pairs a weak currency with the USD, for example, USDINR.
  • Long and shorts. It is possible to speculate currencies on both the long and short sides. When traders buy, they get the quote currency and sell the base and vice versa.
  • Orders. CFD trading offers the opportunity to place orders of multiple types. For example, stop limit, GTC, etc. Depending on the broker, it is possible to set various executions in different directions on the same pair.
  • Broker. A forex broker provides live currency feed to traders. They also have a platform for trading and list various deposit and withdrawal options for chasing in and out quickly.
  • Availability. Traders can access forex trading worldwide with the help of an internet connection and a mobile phone. Applications provide adequate charting features and have all kinds of orders at an investor’s disposal.

Regulation

Financial trading is subjected to regulation by many regulatory authorities. They ensure that no one gets scammed and that the traders are treated fairly in the complex market environment. A few good names of such regulators are:

  • United States: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
  • United Kingdom: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
  • Australia: Australian Securities and Investment Commission (ASIC)
  • Cyprus: Cyprus Securities and Exchange Commission (CySEC)

How can traders in Nigeria start trading with a forex broker?

Traders can sign up with any exchange by providing their email id and password. Most brokers offer various options to fund your account. Banks transfer, cryptocurrencies, credit cards, and e-wallets are standard methods. It is vital to note that the broker is regulated by one of the top regulatory authorities.

Important Points to Note

A few vital points can keep you from losing. Let us go through them below.

Risk

Risk management is one of the most critical factors in trading. It is vital not to bet all your account on a single trade. A 1% risk is considered suitable for most traders in the financial markets.

Mindset

Psychology takes its utmost importance in trading. It is considered to compute about 80% of the total regime. With greed and fear in mind, it is not possible to compete with the big guys for long. Many books available online can be read to maintain a solid mindset while on the charts.

Strategy

A sound strategy includes a good risk-reward coupled with a win ratio. Before implementing any game plan onto the charts it is essential to use it on a demo account.

NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

Medical tourism: Why many Nigerians can no longer go abroad for treatment  – Olakunle Onakoya, Cedarcrest CEO
Exclusives

Medical tourism: Why many Nigerians can no longer go abroad for treatment  – Olakunle Onakoya, Cedarcrest CEO

July 19, 2025
United States extends period for work permits for non-citizens
"Japa"

U.S introduces new immigration fees for asylum and work permit applicants, effective July 22 

July 19, 2025
Sabreworks celebrates excellence, rewards outstanding team members with life-changing awards
Companies

Sabreworks celebrates excellence, rewards outstanding team members with life-changing awards

July 19, 2025
New U.S. Consul General arrives in Lagos 
Appointments

United States appoints Rick Swart as new Consul General to Southern Nigeria 

July 19, 2025
CBN, forex
Economy

Survey: Over 62% of Nigerians want interest rates lowered ahead of MPC meeting 

July 19, 2025
Meet 7 local owners of mass transit companies in Nigeria 
Exclusives

Meet 7 local owners of mass transit companies in Nigeria 

July 19, 2025
Next Post
FG announces opening date for Lagos-Ibadan road diversions 

Buhari assures Lagos-Ibadan, Sagamu-Benin expressway to be commissioned this year

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • Medical tourism: Why many Nigerians can no longer go abroad for treatment  – Olakunle Onakoya, Cedarcrest CEO
  • U.S introduces new immigration fees for asylum and work permit applicants, effective July 22 
  • Sabreworks celebrates excellence, rewards outstanding team members with life-changing awards

Follow us on social media:

Recent News

Medical tourism: Why many Nigerians can no longer go abroad for treatment  – Olakunle Onakoya, Cedarcrest CEO

Medical tourism: Why many Nigerians can no longer go abroad for treatment  – Olakunle Onakoya, Cedarcrest CEO

July 19, 2025
United States extends period for work permits for non-citizens

U.S introduces new immigration fees for asylum and work permit applicants, effective July 22 

July 19, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics