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These 5 forex broker secrets can be the keys to differentiating between a good and bad forex broker:

1. Market makers are not traders' enemy.
2. So-called NDD brokers are actually ECN/STP brokers.
3. Bonuses are brokers' hidden fees.
4. Scammers could easily pose as forex brokers.
5. There are A-book and B-book brokers.

Continue Reading at Exposing Forex Broker Secrets

As mentioned above, Nigeria has a poorly regulated financial market. There's no prohibition to trade with overseas forex brokers as there's no locally-regulated forex broker either. Therefore, you can legally trade with any overseas forex broker.

Most Nigerian forex traders are registered with European or MENA-based online brokerage companies. 

Continue Reading at Forex Trading Facts in Nigeria

The easiest way to check a broker's registration is to look at the bottom of their website or click the "About Us" button. Regulated brokers are required to include their regulatory information as well as proper risk disclaimers on their websites, so it should be easy to find.

The next step is to double-check the authority that regulates the broker. You just need to visit the website of the governing body and search for the broker's registration number.

Continue Reading at How to Ensure Your Broker is Trustworthy

Please note that not all unregulated brokers are bad. There are many reasons why a broker decides to stay unregulated. For instance, some brokers might still be working towards obtaining a license from a regulator. It's worth mentioning that the cost of obtaining a license might be millions, so not all brokers can afford that from the start. Obtaining a license also takes a relatively long process, so the broker may be waiting for its license to be released.

Continue Reading at Do You Have to Trade with Regulated Brokers?