I listened to EFCC space talks on the topic
“Is forex trading illegal?”
In a nutshell the answer they gave is simple
If you use your own money to trade forex online via international or local brokers, it is 100% legal and requires no special regulatory license.
However when it comes to managing other people's money, if you intend to act as a fund manager, take investments from the public, or trade on behalf of other investors, you must register as a capital market operator with the Securities and Exchange Commission (SEC Nigeria)
Understand this!
Repost for others💛
Trading is a paradox.
You spend years chasing setups, tweaking indicators, trying to predict what can’t be predicted.
And then, if you survive long enough, you realize the real edge was never in the charts.
It was in your ability to execute simple things, over and over, without letting fear or greed rewrite the plan.
Once you’ve successfully made money through a repeatable, non-random process, making money again often becomes easier because now you have both capital and a mental model for how money is made. It’s actually a game
We fit dey insult ourselves in this profession, but I’d argue to a fault that we still cannot come down to this level.
Allegedly, we proud dieee - and honestly, our arrogance is very much deserved.