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Nigeria has established itself as a hub of Forex trading excellence, with a growing community of traders seeking success in the market. With this, Traders Union experts have conducted an in-depth analysis showcasing the remarkable skills of the best Forex traders in Nigeria.
Who are the best Forex traders in Nigeria?
Nigerian traders have proven their exceptional skills, with several individuals standing out for their achievements. Here are some of the best Forex traders in Nigeria who have made history in the market:
- Uche Paragon is considered to be the wealthiest Forex trader in Nigeria. He is known for his disciplined trading approach and sharp analytical skills, earning a reputation as the best Forex trader in Nigeria. Uche has honed his skills through extensive research, backtesting, and live trading, emphasizing a focus on risk management.
- Dapo Willis, known to be the $10 Million Forex guru, has ranked as the second top trader in Nigeria. His popularity is tied to his success as a finance coach, keynote speaker, and technical analyst. He dedicated himself to mastering the intricacies of Forex trading, developing an approach with technical analysis and risk management.
- Ejimi Adegbeye is a Forex trader who has an estimated net worth of $5 million. At the young age of 19, he began his trading journey and became one of the most successful traders in the country. He attributes his accomplishments to his conservative investment style, wherein he only puts a small portion of his capital into each trade.
- Damilare Ogundare stands out with his disciplined approach and unique trading style. His expertise lies in effectively managing risk, an important skill in the volatile Forex market. His use of price action in trading has set him apart from other traders, allowing him to more accurately predict future market direction.
- Jeffrey Benson is a Nigerian Forex trader who has attained financial freedom through diligent study, hands-on experience, and a keen understanding of market dynamics. Over the years, Benson has been able to consistently generate significant profits, earning him a net worth of $1.5 million.
Which prop firms dominate the Nigerian market?
In addition to the best Forex traders, Nigeria is also a home to prop trading firms that offer profitable opportunities for traders. Subsequently, TU experts have ranked the following top prop firms in Nigeria:
- Topstep is an international proprietary trading company with over a decade of experience. One of its key advantages is its global reach, allowing Nigerian traders to access different trading opportunities and resources. Consequently, The prop firm’s evaluation process ensures that only the most skilled investors are granted access to its funded accounts.
- Fidelcrest offers 13 accounts to accommodate different types of traders, providing access to more than 1,000 financial instruments. The company is known for its training programs and support services, providing profit splits of up to 90%.
- FTMO has a notable stronghold in currencies, making it an excellent option for Forex traders in Nigeria. The company’s focus on risk management and commitment to providing a transparent trading environment have contributed to its reputation as a trusted prop firm in the industry.
- SurgeTrader hands 75% profit splits to funded traders who reach the platform’s trading criteria. The prop firm has only one phase of evaluation, unlike other prop firms, making it accessible to traders of all skill levels.
- The 5%ers is known for a unique approach to Forex prop trading, providing Nigerian traders with an alternative platform to earn profits. Each funded trading account is a live, real-money profile funded by the prop company and tradeable by subscribers.
Should Nigerians consider prop trading?
Forex prop trading is a progressive process where investors can trade long or short daily without being responsible for the funding of the account. With an increasing number of prop traders in Nigeria, there is a chance for those with little capital to get their hands on their dream trade.
Moreover, trading with prop firms allows traders to generate higher returns due to bigger trading capital. This venture opens opportunities for better profit margins even with lower risk. Here are the benefits of Forex prop Trading in Nigeria that every trader should know:
