Got robbed and phone stolen on Aug 29th right in the mist of exams. Alhamdullahi for life.
Exams are finally done last month,and Decide to stay off Media too.
I pity all of you inviting EFCC into the trading space.
Many growing industries kick against regulations because they will stiffle growth.
You are saying they are not licensed to be signal providers and they are not licensed to be mentors.
This is the baby stage of Forex trading in Nigeria.
The biggest traders in the Nigerian space Jeffery and Habby started trading less than 10 years ago(2017 precisely)
The space is growing.
Who do you meet to license a signal group in Nigeria?
Is an academy a university, polytechnic or an extra mural class?
This over regulation you all are craving for will come back to bite us all.
Most props cannot operate in the US because CFDs are banned.
Most traders are running from the US to Dubai because capital gains on futures trading and options can reach as high as 30%.
In the US, the crypto industry is kicking against regulation from SEC because what is normal may soon become illegal.
Launching a coin may land you in jail.
In the FXNG space, we were managing our issues and solving problems amicably to a degree.
You went to involve the government for a signal group that is down 6%.
They never kicked you out.
They never said we would no longer provide signals.
Now when regulations come.
Prop firms may disappear from Nigeria entirely because I see some of you tagging EFCC to props as scams.
You may need a license to trade forex.
To teach forex maybe you may need a degree or SEC certification.
You may be taxed 30% on all your forex profits.
All unregulated brokers may be banned. You may never see brokers will $10 deposit again and leverage may be capped at 1:2(Thats how TD Ameritrade works)
At the end of the day, you all are setting up the entire industry for doom.
You don't realize how easy the game is right now. most people between 25-40 are drowning in reels, netflix and video games
if you just:
start a business. make wifi money. lift 4x/ week. promote your offer shamelessly.
you'll be in the top 1% in 3 years.