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Author Archive | Josh Madison

A comprehensive Globalprimeau.com.au review for your cosnideration

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The company that we are going to talk about now is no longer a newcomer to the industry. The globalprimeau.com.au Forex broker has been around for almost a decade now, and in that time they have had every chance and every opportunity to prove themselves to be more than just another company that came to Australia to encourage people to start trading Forex. Still, while the company has managed to start offering relatively new and interesting products in its time in the industry, it has also managed to earn the ire of many a trader and many a reviewer like us. The problem with the company is not the fact that they are a scam, but that they simply do not do enough to make themselves better than any of the other options available on the Australian Forex market today. So, with a critical mind and a grave heart, let us start this Globalprimeau.com.au review and see, what the company could do better, in order to receive a positive review from us.

Leverage: 1:200 Licences: ASIC

Min. Deposit: 200 USD Bonus: 30 USD

Spreads: from 0.7 pips US Clients: No

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EuroPrime review – or why it is important to read about a broker before trading with them

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Another day another broker, right guys? Well, today we have something of a special review prepared for all of you. Today we are talking about the EuroPrime Forex broker, which also known as the prime example of why you should read about a broker before you start trading with them. Why? Well, there is a simple reason. This broker has been operating on the European Forex market for a while and in those years, it has managed to become one of the worst brokers to ever grace the face of this planet. While the broker might not be a scam, they are definitely not the kind of broker that you eve want to deal with. They dedicate most of their resources to marketing while keeping the rest of everything about the brokerage sub-par. This results in many of the users they get being badly burned and never coming back to them. This is also why we are writing this review – so you know never to trade with them. So, let’s get into what these guys do and why you shouldn’t trade with them.


Leverage: 1:400 Licences: FSC Belize

Min. Deposit: N/A  Bonus: N/A

Spreads: from 0 pips US Clients: No

Looking for a good Forex broker? Try XM instead!

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Why you should avoid the Vestle scam

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It is the time of the season, ladies and gents, when we are getting some new brokers to talk about, when we could not be any more excited. It is not that often, after all, that you get companies like the Vestle scam to talk about. After all, we all know how much people like me enjoy talking about the inadequacies of companies, calling them out on these inadequacies and calling them what they really are: scams. Well, this time around we got a really juicy one guys. The name is pretty fresh, but it is nothing but a rebranding of an old and obvious scam company. So, we are going to treat it as such and we are going to call it out on every single thing that makes this company the terrible abomination against traders that it is.


Leverage: 1:30 Licences: iCFD

Min. Deposit: 400 USD Bonus: N/A

Spreads: N/A  US Clients: No

Try signing up with XM instead!

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A top 3 list of successful Forex traders in South Africa

The Forex industry is incredibly easy to get into, but what is the most exciting is the fact that if you keep working in it, working on developing your skills, you will eventually become successful. There are many opportunities that the Forex industry provides for all kinds of people. Students who find themselves to be much better at trading than they thought they would be sometimes drop out and devote their full time to working on the markets. People who have been professionals for most of their life and find themselves successful in the markets at 50 quits and keep trading like there is nothing else. And in the case of those who start working in Forex trading South Africa industry, some of them find themselves to be extremely successful.

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The thing with Forex is that anyone can end up being successful in it, as long as they work hard enough and learn enough. Such is the case of the people who we are going to be discussing now. These people come from South Africa and became some of the most successful traders in the country simply by allowing themselves to enjoy the opportunities that the industry provides. Some of them started trading on loans from their friends, others took no deposit bonuses not much different from the XM $30 no deposit bonus, while others simply took the money they had and invested in the industry. Exploring their cases and understanding where the most successful Forex traders in South Africa come from, might provide us with a hint or two on how to ourselves become one of them.

Sandile Shezi

Sandile Shezi was a very lucky man long before he had anything to do with becoming part of the list of successful Forex traders in South Africa. Originally from a poor district within South Africa, Sandile used to go to a local school, where he studied just like the other children did. He did not have anything special about him other than the drive to no longer be living in squalor. The school he went to required tuition to be paid regularly. One time Sandile took the tuition that he had to pay for the entire year of study and invested it elsewhere. Specifically, he chose to try his luck on the Forex markets. What followed was a pure stroke of luck. Investing the money, he saw a return that enabled him to change his life and both pay off the tuition and continue trading on the Forex markets.

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This is a very cinematic story, yes. It is as is fate had the turn of luck in store for him, and there was nothing but a life-changing event waiting for him. But while it is a magnificent story, it is important to remember that this was a stupid idea. There is no single situation where it is wise to take the last money you own, the money that you need in order to go to school and spend it on a market that you have no guarantee of gaining returns from. Even  Thankfully, Sandile got way lucky, and now the 26-year-old operates as a full-time Forex trader and is one of the richest Forex traders in South Africa who actually made money from Forex. He currently owns the Global Forex institute. There he teaches young people who want to become traders on how to trade on the markets, the concepts of Forex and other important details about the market that are useful in operating in the Forex industry, such as what makes a good Forex broker to trade with, in South Africa. He is not alone in his mission to educate young South Africans though, and he has had a lot of help over the years.  Specifically, he has had some of the most from one of the most successful South African Forex millionaires and traders, George van der Riet.

George van der Riet

George is just like most other success stories that end up being told within the Forex and investment industries. He was an average man with the big dream of being rich one day. So George, after graduating from school in Capetown, decided it was time to move out of his native land and go on to the UK, see the world. There George grabbed another degree in Finance and ended up working

for several investment companies around the UK as a manager for Foreign Exchange markets. In his years of trading for companies with large capital access she quickly learned how to be a good trader and how to be a good entrepreneur. While he liked trading, he was tired of doing it for other people, so soon enough George quit and moved back to South Africa in order to become one of the best Forex traders in South Africa.

When he arrived, he was immediately seen as a good investment to have as part of your company. While he got some really good offers from companies, George decided that the best thing to do in order to become one of the top Forex traders in SA was to start his own company that would concentrate on investing in Forex. He did so in 2010, barely within a year of his return to his homeland. This is also when he found Sandile and realized that there was a great future for this stroke of luck millionnaire. They started working together and soon enough Sandile managed to become one of the top Forex trading SA millionaires and a good friend to George. Today they operate the Global Forex INstitute together.

Ref Wayne

While the Global Forex Institute is incredibly popular with the locals, it is not the only institution currently seeking to educate young South Africans in the Forex industry The African Forex Institute was founded by Ref Wayne, the main competitor to the title of one of the youngest Forex traders in South Africa. Ref became a millionaire when he started trading Forex at the age of 22 and has since decided to turn his skill with the markets into something that would be useful for the rest of Africa as well. He founded the institute and teaches about Forex, while also writing guides, books and releasing online courses for those who are interested in the industry.

His story is not as glamorous or as cinematic as the one Sandile tells, but it is one of success nevertheless. The story that is interesting comes after that man became regarded as one of the top 10 richest Forex traders in South Africa. He operates several ventures now, with one of his most recent and impressive ventures being the creator of one of the first African Cryptocurrencies called Pip coin. With this invention, he gives back to the community, while also doing good for himself. He says that unemployment within the country is one of the main reasons that drive him to be the entrepreneur that he is today, sharing the success he has with the rest of the country.

Forex trading in South Africa – a growing industry

The industry is quickly growing around the African continent, and it is something to be very excited about. hundreds and thousands of people are going on the internet to try their hand at Forex trading in South Africa. It promises a way for many to make money that they never thought they would be able to make, and it provides an opportunity to many to become something they never thought they would be able to be: one of the successful Forex Traders in South Africa who have managed to make millions on the markets.

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A list of things to consider before you start trading Forex in Nigeria in 2019

So, you have decided to try to find out how to start Forex trading in Nigeria in 2019, but have suddenly realized that you know as much about the industry in the country as you know about how long it takes Pluto to go around the sun. This is not something to worry about at all since this article is dedicated to providing you with a crash course on the subject of Forex trading within the country. If you want information that is more in-depth, you should check out our tips page. The list below will give you the info needed to avoid scams or losing money while furthering your education will help you earn more. So, let’s stop stalling and get into what the best way to start trading within the borders of Nigeria is.

Here’s a bonus: it takes Pluto around 248 years to make a full circle around the sun.

1. Ask yourself why you want to start trading Forex?

So here is the thing. Many people get into the Forex industry just because they think this is where they will be able to get fabulously rich and it’s not wrong of them to do so, but it is also incredibly conceited to think that you are the one that is going to hit the jackpot. Especially if you are going into the market with just a little bit of money. I mean, even some of the richest Forex traders in the world had to invest a boatload of cash in order to make the boatload of cash back. So be careful what expectations you have when you go into the Nigeria Forex industry. The first thing you are going to have to do is set some realistic expectations to how much money you are going to end up making, set some realistic goals and make sure that you stick to those goals. If you don’t, you end up losing a whole bunch of money.

2. Learn about Forex

how to start Forex trading in Nigeria

How are you going to make money in an industry, if all you know about the industry is that someone made money within it? This is the question that should be bothering you a lot and it is also the question that you should immediately answer with “by learning about the industry”. If you are going to be trying to start Forex trading in Nigeria while being ignorant of the industry as a whole, you are going to be making the biggest mistake of your life. The best way to trade in any place in the world is to know what you are doing, and the best way to learn about something is to find resources to learn about it. All it takes to learn about Forex is to google anything related to “education” and “Forex” and bam, you have dozens and dozens of resources. Some of the ways to learn about the industry are:

  • Online seminars, also known as Webinars, because combining words is cool
  • Online academies
  • Videos
  • Articles, Blogs, and other similar written resources

And if you are not sure that any of those are reliable enough, it should not be too hard to find places that will offer you Forex trading training in Nigeria. The industry is popular enough in the country for multiple brokers and educational institutions to offer you a chance to learn about it. Although, these meetings might not be free to attend and are more likely than not going to cost some money. Learn about them ahead of time by asking around, so that you don’t end up going to a useless course. I mean, come on, there are almost two hundred million people in Nigeria, someone is bound to know about Forex educations courses. And now that there are more and more Forex brokers in Nigeria, it should be pretty easy to start trading

3. Understand the context

And while you are educating yourself about the industry, make an effort to learn about the context that you are going to be working in. This means learning about the Forex industry specifically in Nigeria, and also what is going on in the markets around the world right now. One thing that is true about the Forex industry is that it is constantly changing. I mean, it is stable enough to be appropriately tradeable, but there always something changing. There is always a currency that is on the rise or in freefall, always a country that is struggling to keep up in projected growth and so on and so on. The market is constantly in flux simply because anything at all can affect how much a currency is worth.

The country elected a new president that is more democratic and promises quick GRP growth for the country? Bam, the currency increases in value. Oh, the president got the flu? Bam, the currency falls in value. The country goes through a renaissance while the president is sick and the number of tourists coming to the country increases tenfold? BUY THAT CURRENCY NOW because its gonna explode in value. Oh, wait, the country got into a war? Well, bad news, all that currency you bought is gonna start going down now.

Keep an eye on the news and keep an eye on what other people are doing.  Many Nigerian Forex brokers will allow you to receive this information on their own platforms. That is the only way to guarantee that you don’t end up falling behind. Context makes everything on these markets.

4. Find out which are the best Forex trading platforms in Nigeria

Forex trading training in Nigeria

Okay, so now that you have learned about the industry and about all of the practices associated with Forex, all you have to do is learn about who the best brokers are. Easy-peasy right? Well, you’re wrong. Picking a broker is the most complicated, annoying and most drawn-out process that you will be going through before you can even begin Forex trading, especially in Nigeria. There are many brokers around the world and, since there are so many of them, it is easy for scams and liars to become hidden within the list. If you are not careful, you might end up picking a broker that is terrible for you and for your money. So, in order for you to not end up doing the exact opposite of hitting a jackpot, here is a quick list of things that you need to learn about a broker before you even end up working with them.

  • License
    • One of the most important aspects of determining whether a broker is legitimate or whether it is a scam is finding out whether they have a license. The license should be provided by a reliable financial regulator. Internationally these include Cyprus based CySec, the UK based FCA, South Africa based FSCA, and others. Within Nigeria, the SEC (Securities and Exchange Commission) is the one responsible for providing licensing to brokers. If you do not see an SEC license, you should consider staying away from the regulator. If you do see an SEC license, it might be a good sign that you are working with the best Forex broker in Nigeria.
  • Platform
    • Consider the platform that the broker is offering to you for use. Is it the MetaTrader 4, the MetaTrader 5, CTrader, a browser-based platform or an in-house produced platform? Any of these could have some reliable features that would be useful to most traders, but each of the platforms is different in many ways. Any Forex broker in Nigeria can offer any of the platforms. These differences are the ones you should be considering so that you can make sure that you are getting what you want.
  • Spreads and Leverage
    • Spread is the amount of money you are likely going to end up paying for opening and closing your position on a currency. It is the amount of money you will end up paying, basically. Leverage is the multiplier of the money that will be loaned to you if you decide to take it and trade it. In the end, you need to make sure that both of these quantities are something that you approve of and don’t end up getting in the way of your trading experience.
  • Education and other products
    • You should also consider whether the broker provides you with a chance to get more educated on the subject of Forex and if there are other things they are offering. The more bonuses you get for starting to trade Forex trading Nigeria with a specific broker, the better it is right? Just make sure that those benefits are actually given to you and are not just an empty promise.

5. Try to get a Demo account

Once you have figured out a broker that you might enjoy working with, try to figure out how to get a demo account with them. A demo account will allow you to experience whether you like to work with the broker or not and it will also allow you to try out some trading techniques that might be interesting. You could also go ahead without one and end up on the market without any knowledge of what trading looks like, be confused and lose money, but hey that’s up to you. Some of the best trading accounts allow traders to get imaginary funds that they can apply to the real market and see how their decisions pan out. These help build speed and skill when trading, two of the most important aspects of anyone who wants to start Forex trading in Nigeria or elsewhere in the world.

6. Try to get a bonus

A bonus will multiply your trading capital by adding money to your account for completing an action. Some bonuses even provide bonuses for simply registering with the broker, meaning that you don’t even have to invest money in order to be able to start trading. Not all brokers provide this opportunity though, and some scam brokers end up using bonuses as a way to lure in unsuspecting victims. This is why it is important for you to make sure that you are dealing only with the best bonuses that you can get your hands on. Many Forex trading companies in Nigeria offer the opportunity to get your hands on a bonus such as this.

7. Plan

start Forex trading in Nigeria in 2019It doesn’t matter to us if you are trying to start trading with a Nigeria Forex broker, England or in Poland, I need you to do one thing. I want you to plan ahead. This means that you sit down and think about how much money you want to make. What techniques you are going to use to make this money. What your currency pairs of choice will be. How much time you are going to spend trading. How much money you are going to dedicate to trading. How much money you are willing to lose while trading. All of these things will help you prepare for the life of a trader and prevent you from either losing too much money without stopping or overexerting yourself. Planning is the number one thing that helps any and all Forex traders in the world and in Nigeria to end up making the money they need to be making.

8. Start Nigeria online Forex trading

After all, is said and done, all you have to do is just start trading. This means to register an account, deposit money and start trading. It is that simple. Although, all things considered, it is also going to be the most complicated and complex thing you have ever done in your life, so be careful how you go about it. Trading is a complex subject that involves a lot of learning and a lot of work, so make sure you know what you are doing before you get involved and invested in it. If you do, you should be able to make something of it. If not, you will end up just like the rest of the 90% of all traders on the markets – losing money. But hey, I am optimistic about your future on the markets and you should not be giving up either. The Nigeria broker that you will end up trading with agrees with this too. So go ahead and start preparing!

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AxiTrader is helping partners do better

AxiTrader is one of the most reliable Forex brokers out there. These guys have spent the past decade forming strong relationships with their clients, building up relationships with partners and giving everyone plenty of room to grow.

And yet, despite the help they’ve been giving out, it seems the global trading community – or at least those in the partner/affiliate space – hasn’t really caught onto all the opportunities. So, they’ve decided to kick it up a notch with something they’re calling the AxiTrader Partnership Program.

Essentially it’s a two-tier bonus system where partners or affiliates who go above and beyond to help bring new clients into the fold will get extra payouts on top of the regular benefits.

Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

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AxiTrader offering lessons from Knightsbridge Trading Academy

Anyone who’s ever done any online trading will know that the most important tool they have in their arsenal is knowledge. The more you know, the better your trade decisions are likely to be and the better your chances of being able to bank a profit.


Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

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The AxiTrader Autochartist assitant

One of the most useful tools currently going around in trading circles is Autochartist. But it isn’t as well known as it perhaps should be, which is a shame since the tool itself has a good deal of reliability and efficiency in terms of what it offers traders.

 

Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

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AxiTrader VPS, or how to get the best Commercial Network Services

Not many people realise how important it is for a broker to provide their users with a high-quality VPS. In fact, many people don’t even know what a VPS is. Fortunately AxiTrader have their clients well sorted it with a high quality offering of VPS options which they can access free with a few conditions, depending on which setup they’re looking to go for.

But first, let’s get back to the basic question…

 

Leverage: 1:400         Licences: ASIC, FDA, FDSA, FMA

Min. Deposit: $0         Bonus: N/A

Spreads: from 0 pips   US Clients: No

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