Forex trading has become extremely popular in Nigeria. The foreign exchange market offers multiple opportunities to make money. Traders from Nigeria can trade Forex 24 hours a day, five days a week. According to statistics, Nigerian traders open on average $1.25 million worth of positions every day. However, not everyone has enough time to study the intricacies of the financial markets and learn how to trade. Besides, novice traders can’t boast extensive trading experience, so they are often afraid to open large positions or even get started.
But what if we tell you that you don’t have to be well-versed in trading and finance to earn money? As we’ve already mentioned, this market offers multiple opportunities for making a profit. Investing can easily become your alternative source of income. So if you live in Nigeria and consider investing in the Forex market, you need to find a reliable brokerage company first. Among the key aspects to pay attention to when choosing a broker is its presence in your country. AMarkets, for example, is an international Forex broker that has two representative offices in Nigeria and vast experience in working with Nigerian clients. In addition to executing clients’ trading transactions, AMarkets offers innovative solutions, top-tier products and services, including an innovative investment service – RAMM copy trading.
What is RAMM?
RAMM (Risk Allocation & Money Management) – is an investment service that allows you to earn money in the financial markets by following the strategies of professional traders and copying their trades. This free copy trading platform also enables experienced traders to earn commissions by creating profitable trading strategies and attracting investors to follow them.
The RAMM copy trading service is suitable both for experienced and novice investors. You don’t need to have any special knowledge or become an expert in trading. Simply copy the trades of professional traders to your investment account and make a profit. Now, before you get overwhelmed, let’s take a closer look at the RAMM service offered by the best copy trading broker in Nigeria to see how it works and how you can invest in it. It’s actually pretty simple.
How it works
There are two types of users in the RAMM copy trading platform – traders and investors. A trader creates a strategy on his RAMM account. This strategy sends trading signals, and these signals are then copied to an investor’s account subscribed to this particular strategy. The RAMM platform is a win-win for both parties. Investors can generate income by copying the trades of seasoned traders, and traders receive a commission from investors who follow their strategies.
How to invest with RAMM
To access the RAMM platform, an investor needs to open a brokerage account first. We recommend AMarkets as your copy trading broker. It provides the best trading conditions and high-class customer service for clients in Nigeria. To open a trading account, go to the broker’s official website and fill out a simple registration form.
Once your trading account is set up and ready to go, pick a trading strategy. The RAMM platform has a Strategy rating. Just browse through the strategies and check out their main parameters – age, monthly yield, number of followers, etc. To make the selection process easier, AMarkets publishes the top 5 best performing strategies that showed the highest profitability at the end of the month. Select a desirable strategy, and create an investment.
When creating a new investment, you will be asked to set the Target, Protection and Factor parameters. By setting the Target, you determine your profit target. The Protection feature allows you to protect your investment if the strategy is unfavourable. The Factor is a copy multiplication coefficient. It will enable you to copy the trades proportionally to the size of your investment. After you adjust the parameters of your investment, the RAMM system will start copying trading signals automatically. You don’t need to participate in the copying process at all. Just sit back and watch your profits grow.
RAMM advantages for investors
Now that you already know what RAMM copy trading is, let’s take a look at the main advantages of the RAMM platform for investors:
- RAMM allows an investor to manage risks for each investment. You can adjust your investment parameters and specify your profit target and the amount of your investment you don’t want to risk if things go south.
- Full control of your investment. An investor can stop investing in a strategy and withdraw his funds at any time. There’s no need to transfer funds under management to the trader’s account. The funds are kept in the investor’s account the entire time.
- Diversify risks by investing in multiple strategies.
- Fair and transparent fees. An investor pays a commission only if the strategy is profitable.
Summing up
As you can see, the AMarkets RAMM copy trading service is a great way to make money even if you don’t have a huge trading experience. It’s an excellent option for those who don’t want to waste their time and effort learning how to trade independently. It allows you to tap into the knowledge of professional traders and take advantage of their expertise.
However, it’s important to note that copy trading should not be seen as a way to make quick cash. Regardless of the strategy you invest in, there is no such thing as a risk-free investment. And although professional traders do most of the job trading and generating profits, investors should constantly seek to improve their ability to evaluate risk and minimize potential losses to receive higher returns.
