Browser based Trading Platform in Nigeria
The Web trading platform is very flexible and user-friendly. The application is designed to provide all the necessary features to facilitate and simplify tasks. A trader can download and install this software on their computer to start trading. A trader can be sure that their data is protected by this trading platform, because all data is stored and transferred on a secure web-server.
What is a web based trading platform in Nigeria?
Before we start to understand the web based trading platform and its features, we need to understand the link between the trader and the market. There are three major components in this system:
- Liquidity providers are the large banks and financial institutions that network together applications from multiple traders, brokers and other companies. The higher the liquidity, the lower the spreads and therefore the more profitable the trade.
- Brokerage companies are intermediaries who provide traders with access to the market through their technical channels. They render a wide range of additional services that make trading much easier.
- A trader is a market participant who trades using technical tools provided to him by a brokerage company.
The rapid development of trading in the foreign exchange and stock markets and the increasing number of brokerage and IT companies have led to the creation of a multitude of software products. Each Web trading platform in Nigeria presents its own system for productive and comfortable operation.
Types of web based trading platforms in Nigeria:
- Standard trading platform - installed on the computer as a separate program. Usually this platform has the most complete functionality and virtually no limitations on its expansion.
- Mobile trading platform - this segment began to actively develop with the spread of communicators and smartphones. Today there are many solutions for Android and iOS.
- Web trading platform - a local product of a certain brokerage company, which is provided online on the official website. This type was developed due to the growth of standards and possibilities of browsers. Recently, the functionality provided by Web trading platforms has become much closer to that of standard programs, making them a very interesting alternative.
You can trade in any way you like in Nigeria. Depending on the place and time, one or the other may be more appropriate, which definitely gives more comfort and convenience. Give it a try and it will surely work out for you!
Choosing a browser based trading platform in Nigeria is not a very difficult task for the novice trader. The choice comes down to special cases, for each of which you can also find the most suitable and yet popular software. In addition to the standard trading platform, it is advisable to have a mobile solution to help you in case of an emergency (power outage, loss of internet connection or computer crash). It is also an option to be always connected when you are combining your job and trading.
Features of a browser based trading platform in Nigeria:
This is one of the key challenges, by attracting traders to the platform, exchanges promise that by following all the security recommendations (complex passwords, two-phase authorization, etc.) a trader can trade without worrying about his account being hacked.
Quick and easy deposit and withdrawal of funds
Web trading platform offers the user a variety of ways to transfer funds: to card, electronic payment system, bank account.
Tools for technical analysis
Professionals use analytical methods considering quotes, indexes, market volatility and other indicators to predict the maximum profit from deals. Technical analysis is built upon the study of past security price movements and is used to identify buy or sell points. Traders visualize prices in the form of various charts (lines, "candlesticks", etc.). The appearance of these patterns indicates the future price movement and helps to make decisions about the execution of trades.
Aside from the figures, technical analysis also uses various calculations, known as indicators. Indicators are an averaging of price or its dynamics. Indicators can be applied to the price chart. Indicators, which are shown on a separate scale and whose values represent ratios and ratios, are called oscillators. When an indicator crosses a certain level, it gives signals for buying or selling. The oscillator also allows you to see overbought and oversold levels. The more tools you have at your disposal, the better your chances of increasing your capital and reducing your risks.
Technical analysis works with security prices, not with the market and economic indicators of the country and the world.
Tools for implementing a trading strategy
Stop Loss and Take Profit are basic position management tools.
A stop loss is an instruction to the broker to automatically sell a stock when the closing price has fallen to a certain level. A kind of loss limiter. A stop loss insures the investor against too much loss. It is considered very dangerous to trade in the market without using a stop loss.
Take Profit literally means "take profit". If stop-loss limits the amount of loss, take-profit limits the amount of profit. The investor determines the price at which the broker will automatically sell the stock after it has risen.
In addition, a take profit can protect against force majeure, technical malfunctions, and misjudging the market situation.
Leverage refers to the ratio between own funds and borrowed funds. In trading the minimum value of leverage is 1:1, i.e. you work without borrowed funds, only with your own money. Leverage allows you to trade with more money than you have in your account, by borrowing it from your broker.
Leverage can help increase your profits, or losses, when the price moves against your position. It is important to manage your risk adequately.
When the funds in the account are equal to or less than the margin required to maintain the position, a Margin Call occurs. Different brokers and account types have different margin call levels, but as a rule it is 20-50% of the required margin. I.e., when funds on the account are reduced to, say, 30% (the level may be different for different account types) of the required margin, there is an automatic closing of trader's positions.
A web based trading platform in Nigeria allows you to work comfortably with different assets and will make trading functional. By choosing the right trading platform for trading, you will be able to organise your work more productively and focus on the essentials. Only a good trading system can give you the confidence to trade!
Web based for stock trading
Stock trading is the process of changing the ownership of a stock on a centralized trading floor. The exchange process takes place on stock exchanges in real trading mode. There are buyers, there are sellers. The price is constantly changing depending on the influx of participants. Who is stronger (buyers or sellers), that is where the price moves.
Browser based platform for forex trading
The forex market is the largest financial market in the world. The largest banks in the world exchange currencies here, many funds are invested here in order to make money on differences in currency rates (speculation). Beginners are attracted by the simplicity and access to trading. All you need is a broker's account and an internet connection. Forex does not forgive mistakes, but it gives you a chance to increase your capital. This is the toughest market. To avoid losing your deposit the trader needs not only knowledge and skills but also a little bit of luck and cold-bloodedness.
Web platform for options trading
An options contract is the right to buy/sell an underlying asset at a fixed price in the future. The most important thing in the definition is the word "right", i.e. no one is obliged to execute the contract. There are two types of options on the exchange:
- Call (call) - the future purchase price is fixed;
- Put - the future selling price is fixed.
The option itself represents some asset, which can be bought and sold in the process of trading on the futures market section. Every option has an expiry date. That is, they are not traded forever, like stocks. At expiration, it will either be burnt out or the underlying contract will be put in if it is in the money (in the plus).
Web based platform for commodities trading
It is important to mention the fact that commodities are very popular among experienced binary options speculators. The reason for the popularity of commodities among professionals lies in their peculiarities.
The key peculiarity of the commodities is that it is easier to predict changes in their quotes. Among professional speculators commodities are rightfully considered to be the most predictable. Despite the predictability of the quotes, commodities have a level of volatility comparable to currency pairs, which makes it a rather convenient instrument of making money.
Browser based platform for ETF trading
An exchange-traded fund is an index fund, whose shares (stocks) are traded on the stock exchange. ETF structure usually repeats the structure of a chosen underlying index. One can carry out all operations with ETFs that are available for ordinary shares in stock trading. This is the main advantage of ETFs - operations on ETF shares can be carried out throughout the trading day and their price changes depending on the activity of market participants. In fact, ETF is a new type of securities that acts as a certificate for a portfolio of shares, bonds and exchange-traded commodities.
Web platform for cryptocurrency trading
Cryptocurrency is a means of payment and, at the same time, money on the Internet. They exist only virtually. The mechanism for trading cryptocurrency on the exchange is not different from the usual. To make a profit, the currency is bought cheaper and sold at a higher price, while trying to minimize possible risks. But unlike a traditional exchange, anyone can trade here without any intermediaries. User performs all operations, from deposit to withdrawal, via personal cabinet and exchange website with information and graphs about exchange rates.
Any cryptocurrency can be exchanged for real money (rubles, dollars) through special services, called exchangers. There are no problems with this. The exchange to money is fast and without fraud.
How to start using a web based trading platform in Nigeria?
In fact, trading has not become easier at all. The infrastructure has changed, the technical means of organizing a trader's work with the market have become better, clearer and easier. But the success of trading still depends on the trader, on his knowledge, skills and experience. Improve yourself, your skills and knowledge. If you grow as a trader, all your tools will follow you.
Anyone, who is not even well versed in the stock market, can trade on the Web trading platform in Nigeria. The important thing is that you educate yourself very well before you start, so that you know the specific terms and indicators that could benefit or hurt you if you ignore them.
Proper preparation will go a long way towards getting you off to a good start. Take control of your financial future now!
To start trading on a Web based trading platform in Nigeria, choose an appropriate broker and register with the platform. You don't have to leave your home to do this. Everything happens online - you register on the website, fund your account with VISA, MasterCard, etc. and start trading. Give it a try and you're sure to succeed!
Once you're registered, set up your demo account right away. In terms of functionality a demo account is identical to a real one, the only difference being that all profits and losses are virtual. You do not need to make a real deposit to open a demo account, so there are no risks.
Once you are familiar with how the system works, you can move to a real trading account. With a real account you will have full access to all the services offered by the platform, which can be very varied and really useful, such as video lessons, market analysis news and your trading history.