No doubt, forex trading has become a top investment for many Nigerians and foreigners today. That is why a foremost regulated financial technology company, TigerWit Africa, has shared insightful nuggets to get started into the world of forex trading and why platforms backed by blockchain technology are the difference makers in the forex market.
The Head of Marketing, Tigerwit Africa, Mr. Kennedy Adetayo, said this during a virtual briefing with newsmen in Lagos State.
He said, “When finding out about trading Forex, most of the information either makes it seem like a get rich-quick scheme or too complicated to understand.”
While acknowledging the issue of safety of forex platforms, Adetayo highlighted some things beginners should look out for in Forex trading.
“We understand how overwhelming forex for beginners can be, with all the technical analysis for trading needed, pip calculations and forex indicators.
He, however, listed basic introduction to get beginners on the way to master trading. They include knowing your currency pairs: Forex trading, which is about the simultaneous purchase of one currency and sale of another and could be the difference between making a profit or a loss.
Others are: learning with demo accounts with about 10,000 dollars; find a reliable service provider; use free tools and guides; and do some independent analysis.
“Trading platforms that use secure technology like blockchain are best to secure your funds. Which is why we can say we are one of the safest platforms to trade forex in Nigeria,” he emphasised.
According to the head of marketing, with the internet democratising information, you can learn so much with free resources, starting with TigerWit’s free trading guide.
Also important to note, the Forex expert hinted that knowing when to enter a trade is often based on how much information one has that others do not.
His words, “Research like the experts’ read what they are reading. The TigerWit blog has brilliant analysis that would nudge you in the right direction.”
Giving reasons TigerWit’s Blockchain Technology makes Forex trading better, Adetayo added outlined low platform risk. “Because blockchain transactions require the ownership of assets or funds by either party, there are hardly any credit or liquidity risks.”
Some of the features he said TigerWit boasted of include faster settlement times; improved transparency; and security.
“One of Blockchain technology’s main strengths is cryptographic encryption. The technology offers encryptions that are almost impossible to crack with the existing technologies, making your trade safe every time,” he hinted.
Speaking also, the TigerWit head of marketing encouraged beginners to trust TigerWit, knowing that the platform creates a transparent, secure, decentralised forex market that is fairer and more efficient than anywhere else.
There, he urged prospects to log on to TigerWit website, to begin.