Forex Brokers That Accept Payza Payment Method for Deposit and Withdrawal

To avoid being scammed by a malicious broker, here are some red flags that you need to watch out for:

• The broker seems to enforce the get-rich mentality to new clients and encourage them to invest a lot of money.
• The broker promises a high return or success.
• There is little, ambiguous, or no contact and background information on the broker.
• The broker constantly promotes unsolicited marketing.
• There are negative reviews from previous clients and market regulators about the broker.

It is worth mentioning that apart from brokers, you should also be aware of scammers that disguise themselves as professional traders, law firms, and other entities that claim to be a part of the government's services.

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

We have made a list of the best forex brokers in Nigeria:

1. IC Markets: Best for commission trading.
2. FXTM: Regulated forex broker with various educational events.
3. HF Markets: Popular broker with attractive bonus programs.
4. OctaFX: Best broker for easy deposit and withdrawal.
5. XM: Best broker with low spreads.
6. Exness: Great for professional traders.
7. AvaTrade: Multi-regulated forex broker.
8. FP Markets: Suitable for advanced traders.
9. FBS: Popular broker with diverse trading instruments.

Continue Reading at Best Forex Brokers in Nigeria

To find out which forex broker is most suitable for you, you should take a quick look below:

1. FBS: initial deposit as low as $1
   
   
2. Exness: minimum deposit of $1
   
   
3. LiteFinance: minimum deposit of $50
   
   
4. InstaForex: minimum deposit limit of $1
   
   
5. FXOpen: minimum deposit starting from $1
   
   
6. JustMarkets: deposit as small as $1
   
   
7. XM: minimum deposit of $5

Continue Reading at Forex Trading with Small Money, Is It Possible?

Generally, there are five major factors to consider when choosing a broker and they are:

1. Level of regulation: You need to know if the broker is subject to the regulations of the Central Bank of Nigeria and if they operate accordingly. A lack of regulation should be a red flag and set off alarm bells in your mind.
2. Trading platform: How does the trading platform look? Is there a registration number on the website that can be verified? Is a demo account available where you can test strategies and other account features?
3. Currency pairs being offered: What kind of currency pairs does the broker have on offer? Is it just the minor pairs or exotic pairs that have low liquidity? Are major pairs that have high liquidity and are more profitable available?
4. Account features: how are charges and commissions deducted and what are the percentages? What kind of leverage and margin accounts are offered? And what are the terms of deposit and withdrawal? 
5. Customer service: Is the customer service reliable? Can they provide succinct answers to your inquiries?

Continue Reading at Identifying Fake Forex Brokers in Nigeria