How to open a Forex trading account in Nigeria

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Posted by on Monday September 12, 2011 17:57:14:

If you are interested in making money online from Forex trading, just like many people are already doing, then getting your own forex account can help you to do that.

Having your own forex account is quite easy and it doesn't really take time. It is just like opening an email account with Yahoo but you would only need to verify your account with some real scanned documents later on and especially when you want to go into live trading

Now here are things you will need to open a forex trading account in Nigeria

1. Your Forex broker's website.
I recommend Marketiva
2. A form of identification (Int. Passport or driving license and Utility bill )
3. You will need to have a domicilliary account or Liberty reserve account:
That is if you intend trading with real money
4. An email address

How to set it up
The procedure is relatively easy and quick
For Marketiva which will also give you a free $5 for opening an account:
- Just go to the website and click on Open account
- Provide your real details correctly in the form
- Confirm your email
- Upload your supporting documents that have been scanned
- Log into your account and also download streamster platform to do practice trading

Most forex brokers provide demo or virtual accounts for their clients and you can practice with it until you want to add money to your account.




Comments:
Re: How to open a Forex trading account in Nigeria Posted by Segun on Friday January 20, 2012 at 10:54:59:

I want to ask, dont i need to also open with a bank incase I want to start tranfering my funds?
How do I start sending my profits from my Forex account to my real account?


Re: How to open a Forex trading account in Nigeria Posted by Felix Okoli on Friday January 20, 2012 at 10:54:59:

You can open a domicilliary account with a bank.
If you have made some profit in your Forex account, you can transfer it to your bank account in Nigeria by using their withdrawal option. You will need to log into your forex account using the internet and clicking on withdrawal by wire transfer. You will need to ask from your bank about the transfer codes for doing a wire transfer. Note that you can't use wire transfer to withdraw if you didn't deposit money with the same money. SO if you deposit by Liberty reserve, you can withdraw same by Liberty reserve and if you deposit by wire transfer, then you can withdraw same and the accrued profits by wire transfer to your bank account.


Re: How much do i need to open a domicilliary account in Nigeria? Reply by akanbi olawale yussuf on Wednesday May 16, 2012 at 11:15:42:

Thanks for your help,you have really proved yourself worthy of people's love.
Please i just want to ask few questions.
1.How much do i need to open a domicilliary account?
2.What are the supporting documents that i have to scan and upload?
3.If i want to open a demo account,will i need to upload those supporting documents?
4.if i start trading with a demo account and have make profit,will i be able to tranfer my profit to my bank account or i will have to start over again whenever i switch to the real money trading?
Please i really need your help on this.I need a quick respond.Thanks
Akanbi olawale.



Re: How much do i need to open a domicilliary account in Nigeria? Reply by Felix Okoli on Wednesday May 16, 2012 at 11:15:42:

1. At least $150 will do
2. Documents like national id card, driver's license or Int'l passport for identity. Then, utility bill or other proof of address
3. No need for supporting documents for demo account
4. If you make money with demo account, you can't transfer it to real account. It is not real money.


Re: How to open a Forex trading account in Nigeria Reply by ifeanyi precious on Wednesday June 27, 2012 at 17:18:20:

how do i get all the things i need to get before i start doing the forex trading



Re: How to open a Forex trading account in Nigeria Reply by harry on Monday July 9, 2012 at 9:52:53:

i realy need to open this accout pls help me out


Re: How to open a Forex trading account in Nigeria Reply by lordlaw on Saturday July 28, 2012 at 22:20:48:

my question goes dis way, since we all knw dat alot of people do scammed biznix on d net , hw r we really goin 2 knw d genuine stock brokers, pls send it 2 my email tanx, i really nid 2 start d forex trading





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