BUSINESSES ARE FORCED TO USE E-PAYMENT DUE TO THE NEW NAIRA'S SCARCITY.

Nigerian businesses are dealing with a double blow as new naira notes are hard to come by and the old ones' expiration date approaches. Many firms have been pushed by the circumstance to choose electronic channels for transactional purposes in an effort to lessen the volume of obsolete notes coming from their clients.

Scam

Scam Price Manipulation

OctaFX is one of the cheating Brokers,  they manipulate the price when the actual price never touches that mark, I am attaching the snapshot of my transaction see where the market was there and they hunted my SL intentionally, which is actually must be penalized.. I should get my earnings back.. Even I am attaching a snapshot of two charts ie one of Oanda, and another of forex.com for the same date and time. For example on 28th Sep 2022, time 16:48 you'll find the market was at the 1642 mark, even at 16:50 but see the OctaFX snapshot of that day and time transaction, they hunted my SL which was 1656.. How? Similarly, I have multiple transactions I can show.. Then I stopped OctaFX and they should be banned, they should correct their system, and compensate the customer for this. If I did't get the funds back, I'll escalate this matter to Consumer Forum, RBI, and every Authority for this. They should be penalized for this. 

surya955

2023-01-28 16:36

NAIRA LOSES A SMALL AMOUNT THIS WEEK ACROSS ALL FX MARKETS.

Due to a gradual increase in demand for dollars, the naira, see a slight loss across market areas which made the Foreign Exchange (FX) market closed out the trading week on Friday.

AN ECONOMIST CALLS ON MONETARY AUTHORITIES TO HARMONIZE EXCHANGE RATES

The Centre for the Promotion of Private Enterprise (CPPE), in the organized private sector, has reiterated the FX market by combining the various rates and making sure the rates are driven by the market. This recommendation follows the sustained depreciation of the naira throughout the year 2022. In an interview with the New Telegraph in Lagos by Dr. Muda Yusuf, the Director and Chief Executive Officer of CPPE. According to him, the official rate had risen to N461/$ and the parallel/BDC rate reached N750/$.

WikiFX Review: Traders need to understand the current situation of XPro Markets

XPro Markets is a South Africa-based broker. This broker claimed to offer clients a couple of financial instruments. It catches our attention because we recently received a complaint related to this broker. WikiFX has comprehensively reviewed XPro Markets from several perspectives.

WikiFX Scam Alert: FCA Warns Against cryptomargin!!!

The British regulator FCA has issued an official warning against cryptomargin on January 27th!!!