Before you trade, you must answer the question about the person’s goal. The exchange will allow a beginner to trade independently and make money. The choice is different if he prefers to trade through intermediaries.
Remember that every site is different. This choice should also be taken into consideration.
Some platforms may have slow speeds and poor performance. This impacts both the delay in the graphic display of exchange rates as well as the timeliness of transactions. Traders get mad when it slows down. However, intraday traders who don’t trade often might not notice.
Scammers have flooded this market due to the popularity of Stock Trading Platforms in Nigeria and the advancement of Internet technology. Problem is, scammers create fly-by night companies to siphon off funds. These companies do not have licenses or regulators. Many times these platforms promise huge profits and instant gold. Unfortunately, many people are gullible and lose all of their money.
This is why it’s important to choose the best Stock Trading Platform Nigeria that is owned and managed by well-respected companies that have good regulatory support and licenses.
Security and confidentiality are inherent in the platform. This depends on which stockbroker you choose.
Pay attention to the daily trading volume. High turnover is an indicator of popularity. Trading here can bring you more profits if the volume is high.
Paid software is available at most brokers and guarantees legitimate data as well as overall reliability. If the platform is not built properly, the trader could lose more than the subscription fee.
The broker will charge a commission for his services. The commission rates for different brokers may vary greatly depending on how many shares are traded and other indicators.
Some brokers do not charge the commission to the trader. Or Stock Trading Platform with no commission. You should also be curious about hidden fees that such companies will reap the benefits of such free software.
OTC trading, in which the data does not originate from the market but is generated internally, is not important. The market date (data about buying, selling, and so on) is important. The broker will always pay for the market date (data on buying, selling an instrument, etc.). If the broker offers a free trading terminal (and consequently a complimentary market date), it is worth considering. This software is provided by the broker for no cost. However, they will still be paid some hidden fees.
The quality of free software is almost as good as that which costs money. Traders may face incontinences such as the inability to send orders, the inability to access the platform or total inability. The request can not be made directly to the exchange, but rather through the company hosting the platform. This is where the problem lies. A trader cannot manage it and can often be made to pay for unscrupulous companies. Make wise choices.
Look at the reviews about the Nigerian trading platforms. You will find only positive reviews on each site. Only an impartial observer, or someone with experience working with Stock Trading Platforms regulated in Nigeria, can reveal the truth.
Important details are needed when withdrawing or depositing funds. You should know what the terms are, how fast and in which currency you can deposit or withdraw funds and what payment systems they accept.
Nigeria is home to many stock trading platforms. Below is a short list of the most popular and highly rated Stock Trading Platforms in Nigeria.
IG International Limited
Firm Fountain Multi Investment Ltd
INFINOX Capital Ltd
Capitalfield Investment Group Ltd
It doesn’t take millions of dollars to invest in the stock markets. Start with just $10 to get started on the best Stock Trading Platform Nigeria has to offer. You will also see a greater potential for earning the more money you invest.
Trades can be made without the use of a broker. However, you will need to open a brokerage or dividend reinvestment/direct stock purchases account.