Tag: FXTM

 FXTM, a global leader in online trading, has announced the launch of FXTM Edge, a new trading account designed to give Nigerians an easy and innovative way to enter the financial markets. 

FXTM Edge provides an accessible entry point into the markets by allowing traders to begin with as little as $50 through a micro trading account, enabling them to trade in micro lots while building their trading strategies and managing risk effectively. The platform is available as a web-based interface, optimized for mobile use, and supported by a mobile app, offering flexibility and convenience to trade anytime and anywhere.

FXTM Edge is created to help new and aspiring traders navigate the financial markets with ease by providing trade ideation tools and inspiration that enhance trading skills and decision-making. The account gives clients access to a wide range of instruments including Forex, Indices, Metals, Commodities, and Stocks, with tight spreads and capped leverage of up to 500:1 for reduced risk. 

Traders can choose to trade in quantities, units, or lots depending on their preferences, and the onboarding process is seamless with fast verification, local payment methods, and NGN trading account options that make funding and withdrawals simple.

“FXTM Edge is designed to open up trading opportunities for Nigerians who want a simple, innovative, and affordable way to participate in the global markets,” said Adaeze Uzochukwu Education and Media Specialist of FXTM Nigeria. “We are proud to provide a platform that not only lowers the barriers to entry but also equips traders with the tools, education, and support they need to succeed.”

In addition to providing an easy-to-use platform, FXTM Edge offers a host of benefits that make it the best trading platform for Nigerians. Traders receive free education and support to strengthen their skills, FXTM Rewards for trading, and access to dedicated resources that help them grow their confidence in the markets. With features such as small trade sizes, low costs, and the ability to trade both online and via app, FXTM Edge empowers traders at every level to achieve their ambitions.

Lukman Otunuga, a Senior Market Analyst with FXTM, has discussed the wide-reaching effects of the tariff imposed by US President Donald Trump on countries worldwide, including Nigeria.

Otunuga emphasized that Nigeria, like other emerging markets, must look beyond the trade developments and explore strategic adjustments to navigate the evolving trade landscape.

In an interview, he noted that the US implemented the reciprocal tariff on April 9, 2025, and its impact on the global economy has been significant.

With the imposition of a 14% tariff on Nigeria’s exports, Otunuga highlighted that the Nigerian government has chosen not to retaliate. 

He pointed out that it remains unclear whether this decision is part of a larger strategy to prevent further tariffs from the United States.

Otunuga said: “Nevertheless, these tariffs may impact growth given how Nigeria’s exports to the US have ranged between $5-6 billion annually. One could argue that Nigeria is somewhat insulated given how over 90 per cent of exports are comprised of crude oil and gas products. Nevertheless, growing concerns around Trump’s trade war tipping the global economy into a recession is a major risk for emerging markets.

“Beyond trade developments, Nigeria remains exposed to volatile oil prices. Last week, Brent and WTI both recently logged their steepest weekly losses in over a year. Oil prices remain pressured by deepening trade tensions and OPEC announcing an unexpectedly large supply boost. 

Read Also: FXTM powers Lagos monthly crit to promote fitness, community engagement

“Crude oil has shed over 13 per cent this month, dragging year-to-date losses closer to 15 per cent . Such a development may complicate the government’s ability to implement the 2025 budget based on oil prices at $75 a barrel. 

“The sharp selloff in oil could mean more pain for the Naira which is among the worst performing emerging market currencies. Naira has shed four year-to-date versus the dollar and may extend losses if lower oil translates to falling foreign exchange reserves.”

On the data front, the FXTM Senior Market Analyst said Nigeria will reveal its latest inflation figures in mid-April. 

He said: “Back in February, the annual inflation rate dropped to 23.2 per cent to its lowest level since June 2023 while food inflation also cooled to 23.5 per cent – its lowest rate since September 2022. While the decline in CPI has been attributed to a technical adjustment, further signs of cooling price pressures could spark discussions around potential CBN rate cuts in the second half of 2025.”

In a bid to enhance the well-being, fitness, and community spirit of Lagos residents, financial consultancy and online trading platform FXTM has announced plans to sponsor the Lagos State Monthly Crit, set to take place on April 19, 2025, at Dolphin Estate, Ikoyi.

According to a statement by FXTM, the cycling competition aligns with the company’s global commitment to supporting sporting activities that emphasize speed and endurance.

The event promises four hours of intense action as cyclists compete in three thrilling categories: Professional, Junior, and Veteran.

Highlighting the stakes, FXTM revealed that winners will receive cash prizes starting at ₦800,000. 

“It’s not just about the race – it’s about the experience,” the company noted, encouraging participants to push their limits and enjoy the dynamic spirit of the competition.

“Expect a vibrant atmosphere with refreshments, music, and the perfect opportunity to mingle with like-minded cycling enthusiasts. Whether you’re a racer or a spectator, there’s something for everyone to enjoy.”

The Country Representative for FXTM, Kelechi Ehibudu said: “At FXTM we believe in unlocking potential and empowering individuals with ‘the freedom to succeed.’ Cycling, as a sport, perfectly captures this value – the freedom to ride, to push boundaries, and to achieve greatness.

Read Also: FXTM Nigeria hosts charity cycling event, draws enthusiasts nationwide

“We’re thrilled to bring this spirited race to Lagos. Cycling is not just a sport – it’s a celebration of determination, endurance, and the unyielding drive to succeed. It perfectly resonates with our mission to empower people to achieve their goals, both in trading and in life.

“The Lagos Monthly Crit is more than just a race – it’s a celebration of freedom, fitness, and community unity.

“Whether you’re competing for the prize or simply soaking in the energy of the event, this is an experience you won’t want to miss.”

…as event holds at Dolphin Estate 

A financial trading online platform, FXTM, has announced plans to sponsor the Lagos State Monthly Crit, which is set to take place at Dolphin Estate, Ikoyi.

According to a statement from the company, this initiative is part of their efforts to promote cycling activities. Enthusiastic participants are gearing up for an exciting experience on Saturday, November 23, 2024.

The statement also mentioned that interested participants should register in advance and prepare for the main race, which will begin in the early morning hours.

The statement added: “Participants will compete for four thrilling hours in three categories: Professional, Junior, and Veteran. The top prize starts at $500, adding an exciting competitive edge to the event. There will also be refreshments, music, and an opportunity to socialize with like-minded individuals.

Read Also: FXTM unveils Artificial Intelligence Trader Coach application

“FXTM, known for its global commitment to promoting fitness through charitable cycling events, is thrilled to bring this spirited race to Lagos. Riding has always been synonymous with freedom, matching the company’s value of freedom to succeed. The event aims to foster a love for cycling and enhance community fitness and well-being.”

The stand-in Country Representative for FXTM, Kelechi Ehibudu, said, “We are thrilled to sponsor this event as part of our charitable project.

“We look forward to an exciting time with all participants from all works of life. It’s going to be an action-packed event.”

A player in the online trading space – FXTM Academy has introduced an Artificial Intelligence Trader Coach application to pull traction and optimise opportunities in the buying and selling of financial assets.

The new tool, the company said will offer personalised trading guidance, real-time insights, and an engaging learning experience for traders at all levels.

The AI Trader Coach, the company said will be useful to traders, who are still practising as well as those returning to the market, or refining their skills in their push for growth towards becoming a more strategic and confident trader.

Speaking on the development, Executive Director of FXTM Nigeria, Abiola Akinyele said the application drives traders’ transactions on financial instruments ranging from currencies and commodities including oil and gold as well as shares of major companies such as Facebook and Apple.

Akinleye said: “As the world increasingly embraces artificial intelligence, FXTM has taken the lead by launching the innovative FXTM AI Trader Coach app.

“In FXTM Academy, we provide students with a comprehensive and hands-on understanding of critical financial markets, including currencies, equities, indices, spot metals, and commodities. We cover essential skills such as fundamental analysis, technical analysis, and more. Whether online or in person, our regularly organized seminars, workshops, and webinars equip our clients with the strategies they need to trade profitably and confidently.”

Akinyele further said: “FXTM Academy goes beyond technical skills. We delve into the psychology of trading, which makes up 80 percent of success in the field. Our training covers risk management, avoiding emotional pitfalls like greed, impatience, overtrading, and confirmation bias, all of which are crucial to protecting your capital and ensuring long-term success.”

Read Also: FXTM lifts school, pledges support for  communities

Describing FXTM as an Organisation set up with a mission to make trading accessible to everyone, Akinleye said the trading company believes the excitement and opportunities of trading should not be limited to a select few.

 Akinleye said: “With over 11 years of global experience and more than a million users worldwide, FXTM is a trusted name in the financial market. Our established reputation makes us a reliable partner for traders of all levels.

“In Nigeria alone, the FXTM Academy has hosted five successful welcome events this year, drawing over 800 attendees and proudly graduating more than 30 traders.”

FXTM (ForexTime), a leading foreign exchange (forex) broker, has held its inaugural ‘Battle Royale’ competition in Nigeria.

The event united traders and enthusiasts from diverse backgrounds in a quest for a coveted $2,000 prize pot while highlighting FXTM Academy’s commitment to enhancing trading skills.

The ‘Battle Royale’ was strategically designed to answer the age-old question: who makes more profitable traders, men or women? Two formidable teams, four talented men and women representing diverse regions of Nigeria, engaged in a spirited competition.

Each participant received $2,500 in their personal FXTM live trading account, with four weeks to demonstrate their trading prowess. Real-time coaching by FXTM trainers fostered insightful debates on trading strategies, empowering clients to identify and address their strengths and weaknesses.

The event not only provided valuable learning experiences, but encouraged participants to recognise and address their trading weaknesses. FXTM trained and seasoned expert, Matthew Anthony stated that “it was key to recognize one’s strengths and weaknesses; to keep a trading journal, learn from mistakes, and read daily articles on our website.”

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Ayokunle Faniku, the most profitable trader, credited his success to rule adherence, fundamental understanding, technical analysis, and risk management.

Onyekaonu Victoria, a member of the female team, shared her insight, saying: “It has helped me to realise – we make mistakes, we can go back and look at our mistake – and we know how to move forward.”

While showcasing FXTM’s commitment to enhancing trading knowledge, the ‘Battle Royale’ spotlighted Nigeria’s ever-evolving financial landscape.

“As the Nigerian economy continues to grow, the finance sector witnesses significant changes, with the Nigerian naira remaining a focal point for investors. FXTM remains dedicated to providing insights for navigating Nigeria’s dynamic financial ecosystem effectively,” FXTM stated.