Forex Trading in Nigeria: Specifics of the Nigerian Forex Market and Cool Perks From the TOP Forex Brokers
The Nigerian economy is one of the largest in Africa. At this time, the oil industry is the backbone of Nigeria’s economy.
The country has long suffered from political instability, corruption, weak infrastructure and poor economic management. Nigeria’s previous military rulers failed to diversify the economy to rid the country of complete dependence on the oil sector. In recent years, the government has embarked on market reforms, privatizing major oil refineries and deregulating the price of petroleum products.
Now in Nigeria, there are over 300,000 retail forex traders, with a significant increase in female traders, with 46% more women registering trading accounts in the last year. This forex market appeal can be explained by the country’s current development stage: broad digitalization and advancement of knowledge-intensive industries. People are having access to more information and receiving a better education, and as a result, are seeking ways to improve their living conditions to international standards.
In our new article about online trading in Nigeria, we are reviewing the financial situation in the country, how it affects traders and made a list of regulated brokers with whom you can safely start trading right now!
Choose your TOP regulated forex broker in Nigeria
Read more our articles about forex
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