How can you trade online in Nigeria? Basics you need to know guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
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Published 27 May 2021
The most prevalent and common trap that many investors fall into is the various investment schemes that are circulated and advertised. Official records suggest that nearly 30 million people are subject to investment scams every year worldwide, there may be a lot of cases that are underreported due to widespread corruption.
Recently, the Economic and Financial Crimes Commission in Nigeria has been put on high alert surrounding the various investment schemes floating around in the country. This alert is in light of the filed complaints and petitions by a large number of investors from the Nigerian community. The age-old strategy of low risk-high ratio has attracted quite a few investors who have fallen prey to these scams.
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There was time when stock trading took place over a phone call or even send a letter. You’d simply have to call or send a letter to a broker and ask him to buy shares or securities for you. You didn’t have the internet or any references to get enough information.
Your best information was through word of mouth or the local newspaper. For years these brokers dictated terms in the market before the internet came and took over.
As we evolve more and more into a digital world, countless opportunities open up every day for people around the world. Everything has been made available to us within the palm of our hands. But how we use the technology in our hands is going to determine how you are going to shape your future.