List of Broker with NAFD Regulation
Recognizing the best forex brokers is not just a matter of identity and basic trading needs. You may need to compare some of them to have more clarity when browsing through some information on forex brokers.
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If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.
What is the regulatory status of forex trading in Nigeria?
Online trading in Nigeria is currently unregulated, while offline forex trading is well-regulated. This regulatory contrast is due to the differences like these two markets.
Continue Reading at Is It Safe to Trade Forex in Nigeria?
How's the forex regulation in Kenya?
The Capital Markets Authority (CMA) is the financial regulatory body in Kenya. Although the CMA was established in 1989, it was not until 2016 that the government granted the CMA the power to monitor forex trading. Before this, the market was full of scams committed by unregulated brokers. Today, thanks to the Financial Act of 2016, forex trading is more secure and transparent in Kenya.
Continue Reading at Is Forex Trading Legal in Africa?
What are the regulations for online forex trading in Nigeria?
When it comes to online trading regulation, the ambiguity of laws in Nigeria contrasts with other African countries that have already implemented regulations. For example, South Africa's Financial Sector Conduct Authority (FSCA) and Kenya's Capital Markets Authority (CMA) have already regulated online forex brokers in their countries. Furthermore, South Africa has even established rules for forex trading taxation.
Continue Reading at Is It Safe to Trade Forex in Nigeria?
What are some of the best offshore trading regulations?
Here are some of the best offshore trading regulations which attract forex traders worldwide:
- Tax Benefits: By offshore forex trading, a trader can be exempt from paying taxes in their country of residence.
- High Leverage: Offshore brokers are not being strictly controlled by their financial authorities. Due to this, they're able to offer riskier leverages up to even 1000:1 in order to attract more clients to invest with them.
- Assets Availability: Most countries have banned quite a few financial assets like cryptocurrency due to how volatile it is. Offshore forex trading is therefore extremely popular as traders don't have to worry about some assets not being available to them for trading.
Continue Reading at Your Simple Guide to Offshore Trading
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