Online trading in Nigeria
What is online trading
Simply put, this means accessing and utilising the open market online to attempt to make a profit. To start trading online in Nigeria is much easier than the more complex offline trading.
There are a range of ways to trade, from standard stock exchange, foreign exchange, binary options and much more. Let see some of the pieces that put this all together.
Markets online involve the same systems that regular trading does, with the primary concept the exchange of assets.
How to trade online?
Trading in Nigeria is easier than it has ever been. From the amount of trading potential available to traders around the world, like the many different marketplaces, there is a lot of choice available for new and old traders.
To start trading online, you must first acquire a broker. This is the first step, and it is perhaps the most important one to get going. A credible and effective online trading software can do a lot in terms of granting access to the market and providing tools required to start trading.
With IQ Option, the process of getting started is extremely easy. You just require an email address to sign up. Once a part of the community, you can make your first deposit and join millions of traders from around the world making money from the marketplace.
Online trading platform
The broker selection is critical to start trading.
The platform is your gateway into the market and essentially gives you all the tools and opportunity you need to become a fully fledged trader.
Selecting an online broker is therefore an important part of the experience. You want to make sure that the platform you are using is reliable and trustworthy. On top of this, you want there to be a good amount of resources and assets available to use while you trade.
IQ Option has become the best online trading platform in Nigeria for these exact reasons. It provides a secure and comfortable setting that allows access to a wide range of assets. This means safety while trading and enough choices to allow traders to create their own unique marketplace experience.
What is an online trading platform?
It is crucial to properly understand the role these broker platforms play in the overall experience.
A broker facilitates the trading process between users and the marketplace. They do this by either connecting traders directly to each other and the market or by creating their own market experience and trading directly with the traders.
The latter type of platform is called a market maker and works through CFDs, which are based on the value of assets on the market and not the actual assets.
Regardless of which types of online trading you are looking at, it will probably be found somewhere online.
How to start trading online?
Understanding how to start online trading is an intuitive process.
To start, all you need is to sign up to an online broker and make your first deposit. It really is as simple as that. There is more when you start online market trading, but this is the very basic approach and will provide all the same access and potential opportunity.
IQ Option are famous for their intuitive and simple sign up process. Within seconds, traders will be through the door and have access to multiple financial instruments, tools and much more. With tutorials and an easy to understand layout, users will be right in the action almost immediately.
How to register?
Registering with any of the top online brokers is a simple process. The main thing that is required is a valid email address. You will also be required to set up a password for any of the trading accounts you create.
The registration process can be started by visiting any of the webpages for the top online brokers. From there, the prompts will lead all the way through to the platform, or trading app, and all it provides.
From a broker’s home pages you can also discover much more on how online trading works with their system.
How to open a demo account?
A free online trading room is available on many online brokers. For most platforms, this demo comes with joining their community, and is usually completely free.
IQ Option has an extensive and inbuilt demo account. Anyone can access this free account directly through their main account. It gives a replenishable $10 000 virtual amount that can be used to practice making trades.
This trading experience can really help with figuring out how to trade and improve strategies for beginners and professionals alike.
How to open a real account?
After registering with an online platform, the next step to get access to your real account is usually to make an initial deposit. This means putting money into your online account to fund any trades you are going to make.
Each broker will require a different minimum deposit to get started and have various options of payment service to help traders go about this. There is also customer support that can be accessed through most of these platforms for any additional help with this and more.
How to fund a deposit?
Each platform will have their own list of services for making deposits and withdrawals. These systems can be used for funding investments in the market or claiming the spoils from trading.
IQ Option has a wide selection of payment services for their many users around the world. This means that whichever online systems you are most comfortable with using will likely be available here to fund your deposits.
Minimum deposit amount
The minimum deposit is the lowest amount you can use to start trading for real.
Each platform will have different requirements for this, depending on which type of accounts they are offering. Generally, the demo will not require any deposits to use.
IQ Option has a minimum deposit of just $10. This allows traders to get going easily, starting out small and building their earnings as they progress. A low deposit also allows for more frequent trading, as there is more potential capital to invest around.
How to withdraw money?
To withdraw, online platforms utilise the same payment services that were likely used to make the initial deposits. These include e-wallets, credit cards and even direct bank transfers.
IQ Option offers traders a wide range of payment options, for both their deposit and withdrawal needs. The transactions also happen timeously, giving traders flexibility in managing and moving around their finances.
Trading has grown and expanded since its early days and now it encompasses a wide range of financial instruments that traders can use to negotiate the market.
These markets have their own sets of assets and methods of interacting with them. Some of the most popular markets are the stock market, Forex and options.
Since these markets operate slightly differently from each other, they will require their own unique approach and strategies. IQ Option offers many of the top markets for their users, with tutorials and tips on how best to navigate each of them.
Easily some of the best online trading in Nigeria.
How to trade on Stock Market?
The stock market is the most traditional form of share trading.
It involves buying and selling an asset, generally acquiring it when the value is low and selling it when it increases. In the case of international stock trading online, the trader actually owns stocks in the asset and is selling them to other traders or to the broker itself.
Trading on the stock market requires an understanding of the changing values of assets and how they might move in the future. There are a lot of strategies that can help determine possible trends and impacts that might affect certain markets.
How to trade indices?
Indices trading involves the use of derivatives, like CFDs, to create potential value. A CFD is a contract for difference and ultimately means that the asset itself is not being exchanged and instead trading is done based on the value of certain assets. Indices themselves are generally weighted averages of the prices of certain shares on a particular exchange. This includes the likes of FTSE 100 and DAX 30.
Since traders cannot purchase or sell indices themselves, trading is usually done through futures or options trading. In these cases, a trader would predict the direction of their value and open a contract on this possible result. They are essentially acquiring the right to purchase these at a certain price and at a later date, such that they can sell this contract down the line for a profit.
Like EFTs and other similar financial markets, these are available at IQ Option, the best online trading site in Nigeria.
How to trade stocks?
There are many strategies on how to trade stocks successfully. These require diligence and patience to learn and develop. There is no substitute for practice when it comes to the stock market. One factor that many traders hold in high regard when it comes to navigating the stock markets is diversification.
IQ Option provides a significant range of stocks to use and strategize with. This selection is broad enough to allow traders to target different sections of the market and develop plans to make the most profit out of the moving values.
Forex involves the use of currencies from around the world. Traditionally this works through pairs, where one currency will be traded against the value of another. Online currency trading is easily one of the most popular markets in the world at the moment.
IQ Option again excels in their selection of Forex trading. With a massive selection of pairs available, the platform gives flexibility and choice a significant weight in the offering they provide.
How to trade currencies?
While Forex is easily one of the biggest trading markets available, most traders focus on the more popular currency pairs involved. Since currencies are traded against one another, it is important to understand as much as possible about the financial climate of each of the assets.
The more popular currencies like the USD, EUR and GBP, all have a lot of information readily available for the purpose of trading. The more information a trader can gather on the fluctuating currencies, the more likely they are to notice and accurately predict trends. This is a significant reason why major pairs are such a focal point for many Forex traders.
IQ Option has all of the main major pairs available for trade, neatly laid out across their Forex trading section.
A cross currency is one that does not involve the USD. These are generally a more niche sector of currency pairs and as a result are often overlooked by many traders. This lack of attention can free up a lot of market pressures that are caused by significant amounts of trading. This can make fluctuations much less impactful and open up some interesting opportunities.
Cryptocurrency trading is another market that has seen substantial interest in the last little while. Crypto is a relatively new asset but the trading potential here has exploded. There are now many different types of crypto available to trade on and many brokers are shifting their focus to encompass this field more directly.
How to trade bitcoin?
Bitcoin is by far the most popular of all the cryptocurrencies.
This is particularly true when it comes to trading, with the value of these coins fluctuating wildly. Due to its popularity, many top brokers now offer some form of bitcoin trading. Like with other currency trading, the more you know about the asset, the easier it is to predict big changes in the future.
IQ Option has an extensive selection of crypto assets, with bitcoin heavily involved. This instrument, and all its assets, are readily available in the trade room here, amongst several interesting tools and services to assist in the process.
How to trade ethereum?
Ethereum is the second most popular crypto in the world. While not as high valued as bitcoin, Ethereum still sees significant swings in value, as interest in it shifts about. Without as much movement as bitcoin, there are certain stabilities that are beneficial with trading this crypto over the other.
As the name implies, commodity trading is concerned with the trading of commodities. A commodity is a good used in a certain sector of the market and in business. These include precious metals, like gold and silver, and even crude oil and others. These can be traded directly like stocks or through CFDs in the form of options or futures.
How to trade metals?
To trade metals you will need a broker that provides the necessary assets, like gold and silver. These can be traded directly or, more commonly, as derivatives through ETFs and similar. This makes them good additions to a trader’s portfolio.
How to trade gold
Gold is easily the most popular of the precious metals. One of the main reasons traders often seek to involve assets like gold is that their prices are very reliable. This means they can be used as a hedging method against time decay like through inflation. Fundamentally, gold will retain most of its value.
How to trade silver
Silver joins gold in most commodity trading platforms. If the broker provides commodities in any fashion, they will likely also have silver available.
How to trade crude oil?
Crude oil is another commodity that gets a lot of attention from traders. Up there with the likes of gold and silver, this commodity holds its value very well.
How to trade assets?
Trading assets is the fundamental nature of every market.
However, many online brokers focus on derivatives instead, and don’t actually allow traders to buy and sell the underlying assets. There are platforms online that do allow this though and they will make this abundantly clear at the offset.
While IQ Option focusses on CFDs, they still have many assets available that this derivative trading uses to determine the value of the trade.
How to trade CFDs?
A contract for difference operates similarly to the regular stock market. The primary difference is that the value is derived from the actual value of the asset, instead of being the asset itself. The result is a very similar effect, with traders being able to buy and sell their positions in the market for profit.
IQ Option is home to CFD trading and has a massive selection to choose from and diversify your portfolio through.
How to trade ETFs?
ETF stands for exchange traded fund and presents itself as a collection of securities. Overall, it presents itself much like a stock does and can be bought or sold through an exchange. Alternatively, derivative trading on ETFs is also available at certain online brokers. Sign up and head across to the ETF tab in the trade room to discover the variety that is available.
How to trade binary options?
Binary options are yet another form of derivative trading. They are also very straightforward trades which have only two possible outcomes, success or failure. Traders predict the direction the price will move and place their trade accordingly.
IQ Option also has a great selection of binary options. With an easy to use layout, these trades are perfect for beginners because they are simple to get going immediately.
Binary online trading is a very popular market at the moment and there are many platforms that support it.
Safety of Internet trading
Doing anything online can be risky, unless you ensure that you only visit reliable and trustworthy sites. The same is true for online trading. A certified and respected online broker will provide security for their users, during trading and transactions.
IQ Option is a certified and secure online broker that caters to millions of users around the world. The environment is completely safe to trade in and users can be assured of their protection. The customer service available will also serve to protect users and help them with any and all issues.
How safe is it to trade online?
Trading online holds no greater risk than trading offline. There are of course some untrustworthy sites and online brokers but these are by no means indicative of the overall security involved. Once again, make sure that the platform you are using is certified and well-reviewed before investing.
My online trading is protected?
The best way to make sure that your online trading is protected is to go through a reliable online broker. Utilise services you trust on your computer as well, like payment services and antiviruses. Just by maintaining a healthy level of caution online, most traders will be able to protect themselves and their earnings confidently.
Is online trading safe?
Online trading is only as safe as the sites that you visit. Ensure you do the research, review each broker and find the one that most proves itself to you. With the right level of care, online trading can be completely safe and secure.
IQ Option is certified by CySEC and have millions of users that stand by their security and trustworthiness. Trading on this platform means that all earnings and deposits will be protected to the utmost level.
Is online trading profitable?
Online trading can be really profitable if it is done correctly. There are always risks involved with trading and the more a trader can work to mitigate these risks, the more successful they will be. The first step is choosing a winning broker, with the right resources and security involved. After that, it is building experience and strategies to better improve success chances while trading.
How do I start online trading?
To start trading online you only need a trustworthy broker and a starting deposit. Depending on the broker this deposit amount will vary. After you have found a broker you trust, simply sign up and join their community. Make the deposit, and then begin trading. It is really that simple. Keep learning and practicing and you will get better and better.
How much do I need to day trade?
The amount you require to day trade will vary depending on the costs of the broker and the minimum investments allowed. Day trading is generally very quick and requires a number of trades to happen across a short time frame. This will require a certain degree of capital but can be managed with small amounts too.
IQ Option has a minimum deposit of $10 and an investment amount starting at just $1. Keep a regular stream of successful trades coming in and you won’t need much to start day trading here. The free demo also allows for unlimited free practice to save on extra costs.