In Nigeria, there are no websites or companies offering investment services related to forex.
Forex trading becomes an investment only when a trader possesses the skills to make profits.
E.g a trader makes money when he anticipates the price to move in a direction (up and down) not a forex trading company.
Platforms providing forex services (octa fx, FBS, etc) are not investment platforms; they are brokerage software for skilled forex traders to execute and manage their trades.
Key Takeaways
- Forex trading is more than just investing; it involves exchanging currency pairs.
- There are no guaranteed ROI forex investment companies in Nigeria.
- Octa FX and FBS are brokerage firms, not investment platforms.
- Copy-trading may seem convenient, but it’s not always profitable.
- Forex brokers act as intermediaries, not investment schemes.
- Racksterli and Swyft-FX are not forex investment companies; they are Ponzi schemes.
The word Forex can be rewritten as;
For + ex = Foreign + exchange, which is the act of exchanging one currency pair for another.
Let’s say you recently moved from one country to another.
You would want to exchange the currency of the country you moved from for the recent currency of the country you are in right?
Yes and If that process has been achieved, then Foreign exchange has taken place.
And when we hear the word “forex“, we all see it as a form of investment but in reality, forex trading is beyond that.
I’ll explain.
The way most Ponzi experts who call themselves “finance coaches” have lured Nigerians into believing, that you just need to find a system that can trade your money for you while you sleep and expect some decent returns on investments every month or quarterly.
If you were been taught this path or you ever come across this set of individuals, then you have to put an end to these thoughts because nothing of such exists.
That is why in today’s post, I am going to uncover the myths behind these forms of forex investment companies.
Why Should You Listen To Me?
If at any point you begin to doubt me? then you are not ready to be exposed to the real truth.
Either way, I should introduce myself.
My name is Dapo Willis, a finance coach, and a fund manager who started trading forex at the age of 14.
I consider myself a successful trader who has made over 150 million dollars just by trading forex (more about me).
You can check out my YouTube channel for more clarity and sincerity.
Now back to the gist.
Forex Investment With Monthly Returns In Nigeria
I know you might be expecting a list of forex investment companies in Nigeria that can produce a nice return on investments (ROI) for you right away.
Spoiler Alert: “There are no Forex Investments companies in Nigeria”.
If you want to look for platforms or investment vehicles like forex where you can invest your money earned into those platforms to trade, then am so sorry to announce to you again that nothing of such exists.
Why?
Forex is an investment vehicle for only experienced traders. and there is no system you put in money into that automatically trades forex for you with a guaranteed ROI.
I will tell you why.
You may probably hear from bloggers or other articles mentioning platforms like
- Octa-FX copy trading
- FBS trading system as a form of forex investments.
- Swyft-FX
- Racksterli
Now all the above-mentioned are not forex investment platforms and neither do they guarantee you a good ROI.
Octa FX and FBS are Brokerage firms, Racksterli is a Ponzi scheme and Swyftfx are cryptocurrency exchange platform.
Octa Fx Copy-Trading
Octa Fx made it clear on their sites that they are forex and stock brokerage firms.
But that is not all.
They also have a section on their page called copy trading, where you will be allowed to copy from so-called master traders who are experts in trading.
This means you will be allowed to copy trade signals from other traders on their platforms.
Sounds cool right? Obviously.
But experience-wise, You can never be profitable with this approach even though you managed to make money from this but at the end of the day, it’s not scalable.
Why? Because the forex trading industry is a zero-sum game. you make money today and may lose it tomorrow.
Think about it this way, if it is scalable, everybody would have become a millionaire doing that.
FBS Trading System
FBS is pretty much the same as Octa Fx.
They both offer the same brokerage services but FBS primarily is a forex broker, unlike octa Fx which offers both Forex and stocks.
And they also made it clear in their footer menu.
In summary.
Before you start trading, it is in your best interests to know the risks involved when starting to trade and your level of experienc trading currency pairs which is currency trading a.k.a Forex.
There is a big difference between a broker and investment schemes.
But don’t quote me wrong.
Investment schemes exist especially for legitimate ones but not platforms that will guarantee you an excellent return when they trade forex for you.
A Forex Broker:
A forex broker or brokerage firm is a financial service that allows financial traders to buy or sell currency pairs on a live market.
When I mean Live markets, am referring to chart systems like this image as shown below and not your local markets.
This is the market where forex traders make their money from.
Forex Investments: These are a group of people or a system put in place to collect funds from people and automatically generate some promising ROI to people who don’t exist.
Note: A forex broker doesn’t invest your money, they only act as a middleman between you and the financial markets (interbank).
I’ll explain.
Back in the Day, Individuals who traded the foreign exchange markets were the Big banks and larger cooperate firms, because they traded in a large volume of currencies worth billions of dollars.
But today, retail traders can now benefit from this system even with their hard-earned money.
And that is where your forex brokers come in.
They give you the opportunity to trade live in this trillion-dollar market.
And without them, retail traders (traders with a small budget) can not trade forex.
So if you think forex brokers are forex investment schemes then I believe you are now exposed to the truth which is a flat lie.
What Your Brokers won’t tell You
To make money trading forex as a retail trader is either buying or selling currencies on the live markets.
If you buy a currency pair in a live market, it means you are buying one against the other.
When you buy, it means the price is expected to go up. and when it does you make money.
The Reverse is the case for selling a currency that goes down when you sell.
And you lose money when your prediction goes wrong. E.g you anticipated a buy on a currency and then the price went on selling.
Then you lose money and it is a win for the broker.
So now tell me how Forex brokers help you to invest your money or does this sound like an investment scheme to you? Maybe not but when practiced with the right knowledge, it will be an investment vehicle for you.
What does this tell us?
Forex trading is a game of probabilities and there are no platforms that can tell you when prices or currencies are going up or down.
Even the so-called “World banks” cannot decide the next move of the markets and that is why experienced trades only anticipate/analyze and judge their analysis based on historical price movements.
There is a saying that usually quotes “History will always repeat itself“. and in trading, this statement holds because technically forex prices move in patterns that have usually occurred in the past.
Racksterli
Racksterli is neither a forex broker nor a forex investment company.
They are Ponzi schemes and the founder, Micheal Orti has been arrested due to some promising mouth-watering return on investment within a short period he wasn’t able to fulfill and ends up scamming people.
Swyft-FX
Swyft-FX is not a broker, neither is it a Ponzi scheme.
They are platforms where you buy and sell cryptocurrency.
From the outlook of their platforms, they don’t offer any form of investment but rather a cryptocurrency exchange.
Is this a forex investment company in Nigeria? No.
How To Invest In Forex Trading In Nigeria
Forex trading is not as technical in terms of understanding.
You only need to understand the risk behind it and other psychological factors that you should always take note of if you ever find interest in forex.
That is why most traders always go by the quote “Only trade what you can afford to Loose“.
The Good Part is that it is 100% profitable and the only investment scheme that can give you the financial freedom you want.
But it is not going to come easy, you have to work for it.
Take note: Forex trading will only be an investment scheme if you understand the nitty-gritty behind it and are also well-educated by an experienced mentor.
With that, you will find success.
But looking for a system that automatically trades forex on your behalf and guarantees you ROI doesn’t exist.
Rather than doing that, why not look for experienced traders you trust and invest funds with them?
While searching for experienced ones you also need to understand that there are also forex traders who aren’t legit as you see on social media.
So it is of your due diligence to do your research before investing in a trader.
To get started with forex
- Register with any regulated forex brokers you know
- Fund Your Trading account
- Connect your login details with your MT4
- Start trading demo or live accounts.
But I won’t deceive you.
All these are ways to put things into action but it doesn’t guarantee the fact that you will become profitable.
So if you want to become profitable, Learn from Other successful forex traders.
If you want me to walk you through the journey of becoming a successful trader, I have put up a forex mastery course that can walk you through my 13 years’ worth of trading experience. and how I use trading to build a multi-million dollar empire.
S0 if it is something you would love to do, kindly reach out to me on my contact page, and will get back ASAP.
Am not just the only one who finds success, Other students who participate in my program are seeing positive results as well.
Now It is Your Turn
I hope you discover some uncovered myths about forex investment schemes
Now I would like to hear from you
Do you have the psychological level to deal with losses when trading forex?
If yes then would love to know and if no, specify down below.
