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10 Key Takeaways from OctaFX’s Report on the Rising Trend of Online Forex Trading in Nigeria

International Forex broker, OctaFX, produces a report that discusses the rising trends of Online Forex Trading in Nigeria. This report examines the trends in the Nigerian forex exchange market, key players, threats to mainstream participation and measures to maximise opportunities in mainstream forex trading.

The key take outs from the OctaFX report on the rising trend of online Forex Trading in Nigeria are;

1. Young Nigerians within the ages of 21 to 35 are more involved in Forex trading of which the male gender is dominant when this is classified across gender lines.

2. The gender and the number of years of trading forex significantly affect the likelihood of people’s change in online and general behaviour and attitude to Forex Trading.

3. Tutorial materials and educational resources, minimum deposit amount, availability of cryptocurrency and favourable trading (i.e. profitable) are among the main drivers that influences the selection of forex trading platforms.


4. The number of years trading Forex and gender is significant in the experience of Forex scam.

5. The use of two-factor authentication, VPN/Proxy server use, back-up data and complex password tops the list in the method most preferred by traders in protecting their investment on Forex Trading platforms.

6. Traders mostly receive fraudulent offerings through emails, advertising, blog, influencers, SMS and this significantly affects traders’ online behaviour and attitude to Forex Trading.

7. Reliability and security, good ratings on the App store or Play store, fully customisable and easy to use, low commission fees, incentives, and good reviews top the list of reasons why traders pick their Forex Trading platform.

8. Traders ascertain a Forex Trading platform is not a scam by making sure there are no complaints about not being able to withdraw funds, reading through all fine print of documents, searching for credible reviews of brokers and checking the platform’s social media accounts.

9. The number of years trading Forex is significantly associated with having knowledge of how to secure funds on Forex Trading platforms.

10. Male traders are more knowledgeable about the safety of funds on Forex Trading platforms than female traders when classified across gender lines.

The report is now available for download [url=/OctaFXForexTradingWhitepaper]here[/url]

OctaFX is a global broker providing online trading services worldwide since 2011. The company is involved in a comprehensive network of charity and humanitarian initiatives, including improving educational infrastructure, short-notice relief projects, and support of local communities and small to medium enterprises. In Nigeria, it managed to capture the ‘Best ECN Broker’ award by World Finance and the ‘Best Forex Broker Nigeria 2022’ award by Global Banking and Finance Review.

OctaFx, the number 1 sponsors of Nigerian skitmakers

Octafx With their useless spreads b like 5 & 6

Octa FX adverts fit make person feel say forex trading na child's play


Pure visual bet9ja betting with different name

Na seun himself put advert for Octafx. This Octafx people money long. After using several skitmakers for advert.

No report.

People are getting weak and less manly. Hence they running from traditional jobs. its the hallmark of weak minds to think more.

You will see great increase in online jobs as things go by. While People run away from traditional jobs as old fashion.

EtinosaDLaw:
OctaFx, the number 1 sponsors of Nigerian skitmakers

1XBet too

Lets face facts , Fulanis have finished Nija

And some mumu's want to vote another Fulani from cameroon?

Thank you sir for answering my plea to add a new mod

Ok... Points taken.

forex no be beans oo

IF YOU LIKE YOURSELF dont ever try forex.

OR

YOU WILL BE POOR FOR LIFE

Ok

Flysinglemom:


1XBet too

Those ones and Oga Sabinus na 5 and 6

Alright

Paid, threat.

Hello Nairalanders, my groundmother just swallowed an airport, please I need URGENT 2 billion dollars for surgery...
Please assist with whatever you have... Those with less than 10million to send shouldn't bother asking for account details. I'm not your regular begger. I get class and it's my fundamental human right to beg

Like sai forex na beans na

Gandah:
Octafx With their useless spreads b like 5 & 6

So Crypto dey pay pass forex
You mean we have more successful crypto traders than we do forex traders?

Really

Do we even have Nigerians who survive just on profits they make from trading forex?

Femiwilli:
Lets face facts , Fulanis have finished Nija

And some mumu's want to vote another Fulani from cameroon?

No be that one dem dey talk for here. Carry your frustration go another place!

Bro Seun is that you ?

Octafx sha

DevilsEqual:



So Crypto dey pay pass forex
You mean we have more successful crypto traders than we do forex traders?

Let him check ftmo and funded trader, mff prop firm on YouTube and monthly payout he will come back to remove that picture. Like say there is difference btw crypto and Forex trader

Authoreety:
Really

Meaning?

CalabarPikin:
Octa FX adverts fit make person feel say forex trading na child's play

Most of their ads are misleading, an ignorant person after watching their ads will think that once you start trading you will just blow within 3 months and start buying SUVs all over the place

Trade forex and remain in poverty for life

Moneyyman:
Oga Seun!

I thought one of NL rules is that no one should promote forex here? Abi eye dey pain me ni?

Erh, mods for this section, Seun has breached rule 16.

Kindly do the needful.

Seun will do the needful

I made over $7000 in forex but lost all the money in crypto trading. If you don't have a good mentor, please don't try to trade forex or crypto on your own without a mentor.

I trade based on instructions from my mentors since my bitter experience...

Now I'm making more than $12000 in a week trading forex and crypto.

I trade forex from Mondays to Fridays. While I trade crypto twice in a month.