As thousands of traders in Nigeria were scammed on the internet by unregulated financial institutions using Ponzi schemes over the recent years, a group of on line foreign currency trading brokers in Nigeria, the Association of On Line Forex Trading Agents, has started an initiative to restore lost confidence in online trading nigeria engaging various government agencies to see to the regulation of the business. Apparently the Central Bank of Nigeria CBN and the Securities and Exchange Commission SEC are the bodies who have the power to establish a regulatory framework for trading in OTC derivatives. After the bill instaforex drafted by their representatives, it has to be approved by the national assembly and the President in order to become a law. All of these steps are expected to take at least 2 years. Currently, however, there are no specific rules governing online foreign exchange trading in the country Yet, it is not illegal, and Nigerian residents are targeted by many brokerages, as their demand for financial services is growing and the local market is promising as any forex one. In fact, many foreign forex brokers already have physical presence in Nigeria, including InstaForex, Alpari, Nigeria and FXTM. At present the brokers with the greatest market share in this country are FXTMInstaForex, Forex, Alpari, FxOpen and MTrading. Only two deposit them hold a license from a reputable financial nigeria - FXTM is regulated by CySec and FxOpen is regulated by ASIC and FCA. FxOpen however runs also an unregulated forex brokerage, registered in instaforex small island in bonus Caribbean Sea. As there is no substantial legal framework for online forex and binary options brokers operating in Nigeria, no authority is overseeing their business activities. The CBN regulates mainly the interbank currency market. Alpari, a global forex broker, announced that it has re-opened its bonus for business on the Nigerian deposit. The news come just 2 months after the UK division of the company shut down its office in India and leave the developing country. IronFX, the deposit Forex bonus operating from the island of Cyprus, is simply growing its global network to incredible proportions with the latest pit stop for the company being one of Nigeria's biggest cities: Quotes from Standard Chartered: Nigeria's consumer price inflation slowed to the lowest level instaforex eighth months in August, and the economy expanded at a faster rate in the second quarter, data from the National Bureau of Statistics showed Monday. Inflation slowed to Forex trading carries a high level of risk and may not be suitable for all investors. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. All information on ForexBrokerz. We do not present any guarantees for the accuracy and reliability of this information. All textual content on ForexBrokerz. You nigeria not reproduce, distribute, publish or broadcast any piece of the website without indicating us as a source. Forexbrokerz website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Read our Privacy Policy. Trade with the Best STP Forex Broker. Broker Country Regulation Min. Related News Alpari Re-Opens Office in Nigeria Jun 17 IronFX Boosts Global Presence via Nigerian Office Jan 02 Nigerian Central Bank Likely to Maintain Its Current Monetary Stance Jan 08 Nigerian Inflation Drops Nigeria 8-Month Low, Economic Growth Accelerates Sep 17 Nigeria Looks Most Likely Contender to Make Transition bonus Frontier to Forex Market Sep 06 Top Forex Brokers FXTM IG HYCM FXCM easyMarkets XM FxPro FX Choice Windsor Brokers FBS FIBO Group Cyprus Grand Capital TryMarkets EverFX Trading Dukascopy Forex Markets OANDA City Index XTB PipIndex Capital Index PhillipCapital UK RoboForex Instaforex. Latest instaforex brokers FG Markets Review - is fgmarkets. Ubank FX Deposit - is ubankfx. ECI Deposit Review - is ecimarkets. EIV Review - is eivforex. ECM Trader Review - is forex. Doo Forex Review - is dooforex. CF Merchants Review - is cfmerchants. DomiFX Review - is domifx. Forex Point Review - is forex-point. Boom Forex Review - is boomforex. Home News Brokers Promotions Contact us Compare. COPYRIGHT Bonus textual content on ForexBrokerz.
Get No Deposit Bonus On Instaforex ( Best Broker in Asia )
Get No Deposit Bonus On Instaforex ( Best Broker in Asia )
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The photographer has since moved on to experimenting with sculpture, and his art often mirrors the themes represented in photography.