Ask any question on forex, stocks, or metals trading.. including analysis, trading systems.. and methods.. anything regarding trading and ill answer you.

So lets keep the questions coming in.. am primed!


Cheers!

Great! I'd like to know more about trading in foreign currencies. How do operators (Banks, BDC's and mallams) in this trade make profit , and when do they make a loss.

favediva: Great! I'd like to know more about trading in foreign currencies. How do operators (Banks, BDC's and mallams) in this trade make profit , and when do they make a loss.

Good question.

profit and losses in the fx market more like all other financial market is dependent on fluctuations. Price fluctuation on individual currency, stock or metal, is caused by many factors like fundamental,technical effect and sentiments also.

Banks, bureau de change, all make there profit from differences in the fluctuation of the price on the particular currency they are trading.

The skill lyes in how effective you can predict the fluctuations and how sharp you are to take the advantage.

Kindly ask any question should you need more clarification on anything.

how does the Nigerian law view profit made through online fx trading?

MyJwell: how does the Nigerian law view profit made through online fx trading?

Just like any other law on profits made either through sales and purchases, rendering of services or whatever it is, Profits from investments are profits and its not just legal, under normal country law, you would be required to pay tax! as it is required on all earnings.

Traders in all other developed countries pay Tax! so you can see that its so legal the country also wants her cut..

Thanks

favediva: Thanks

You welcome..

Hey guys keep the questions coming!!