Written by Bella Rose Okojie
Unlike many other alternate sources of income we have seen come, go or struggling, online trading (commonly called “Forex Trading” in Nigeria) has undoubtedly stood the test of time which goes without saying, the fact that trade between people and nations is hinged on currency and how it changes hands is primarily the reason for its continued existence. With (mobile) technology opening Nigerian(s) up to many different trade and alternate financial resource options, it was only a matter of time before forex trading was broken down to quick maths; Michael Dapaah style.
However, even with that, many financially unstable and investment savvy Nigerians are wary of the ease with which online trading platforms have made the whole exercise seem. While some of these fears are legitimate, when we remember the MMM saga which, though was a get-rich-quick scheme, presented itself to be a simplified means of investing money and making fat returns, it makes for good debate why the same should not be perceived of online trading platforms which are being advertised everywhere everyday.
The one question many are still asking is, should I trade forex? Who should I trade with and what should I look out for? …read more