InstaForex Nigeria bonuses are incentives made available to newbies and existing traders alike. It is to encourage traders, enhance determination and passion for trading as well as give traders more leverage to take on profitable opportunities.
Some of the bonuses of note are as follows:
$70 EDUCATIONAL BONUS: This is available to newbies either during their training or on completion of their training with InstaForex Nigeria. Trained clients are expected to open a trading account with www.instaforex.com.ng with not less than $70 in order to be eligible for or entitled to this bonus. Trained clients are expected to fill out a special form which would be forwarded to Bonus Department. On consideration of the request and confirmation of the deposit, the trainee’s InstaForex account is credited with $70 within a maximum period of two working days. This would boost the trainees knowledge acquired as well as embarking on his Forex trading journey.
30% BONUS: This is also known as “Welcome Bonus” if requested by the trader, it is made available to the trader on every deposit into his trading account, on filling out the application form. This means that the number of accounts to which any trader could request this bonus is not limited. This is credited to every deposit irrespective of how much the trader has lost and earned on previous trading or accounts. It also helps the trader in increasing the amount of any deal. This very bonus is also available for traders in PAMM investment accounts.
The profit realised or made over the bonus amount could be withdrawn at any given time without restrictions. Meanwhile this bonus is not applicable/awarded to any account already credited with another type of bonus. Maximum leverage allowed is 1:1000 and verification is not required.
55% BONUS: This is also one of the incentives from InstaForex to its numerous clients if requested for on every deposit made into the accounts of each trader. The number of accounts to which the trader could apply/request for this bonus is not limited. It is credited to every deposit irrespective of how much the trader has earned or lost previously on other accounts. It also helps the client in enhancing or increasing the amount of any deal.
The profit earned or realised over the 55% Bonus amount could be withdrawn at any time without restrictions. Meanwhile this bonus is not applicable to any account already credited with any other type of bonus. Maximum leverage allowed is 1:200 and verification is not required.
$500 NO DEPOSIT BONUS: This $500 NO DEPOSIT BONUS of InstaForex is to give or allow access to would be traders(prospective traders) and traders alike to the most liquid financial market in the world. It is also with the view of providing stable income to many traders all over the world. It allows traders to
experience the high quality of order execution of real live trading conditions with no risk or personal investment.
The $500 No deposit bonus is made available to newbies and existing clients as follows:
-Registration without verification.
-No deposit required.
-$500 would be automatically credited to your account upon registration for trading immediately. Profits realised or gained from trading the $500 bonus can be withdrawn if all requirement as stated in the no deposit bonus agreement are met.
- For information on InstaForex Nigeria Forex Education & $70 Bonus CLICK HERE..
- For information on InstaForex 30% or 55% Bonus CLICK HERE..
- To open a Live Account CLICK HERE..
- For information on InstaForex instant account funding in Naira CLICK HERE..
News releases is a time to be focused and a time of utmost seriousness as most accounts are wiped off if you lose focus and not knowing how to go about it..
The following are the Forex News to watch out for and the Currencies it affects;
1. Non farm payroll – USD(every 1st Friday of each month)
2. Crude oil Inventories – CAD,USD
3. GROSS Domestic Products – GBP,USD,CAD
4. Employment Change – USD,AUD
5. Bank Governors,President ECB and Fed.Reserve Chairs’ Statements-GBP,JPY,CAD,EUR,AUD,NZD,USD
6. Consumer Price Index(C.P.I) – GBP,USD,NZD
7. BOE MPC Meeting Minutes – GBP
8. Core Retail Sales – CAD,USD
9. Producers Price Index(P.P.I) – GBP,USD
10.Retail Price Index(R.P.I) – GBP
11.Core C.P.I – USD
12.Trade Balance – GBP,CAD,USD,NZD,AUD
13.FOMC,Statements,Meeting Minutes,Projections,Releases – USD
14.Interest Rate Statements – EUR,JPY,GBP,USD
15.Housing Starts – USD
16.ADP Employment Change(Medium Impact) – USD
17.Current Account Balance – JPY,GBP
18.CBI Industrial Trends orders -GBP
19.SNB Monetary Policy Assesement – CHF
20.SNB Press Conference – CHF
21.LIBOR Rates – CHF
22.Official Bank Rates – GBP
23.Minimum Bid Rates- EUR
24.ECB conferences – EUR
25.Retail Sales – USD,GBP,AUD
26.Building Permits – USD
27.Mid-year Economic and Fiscal Outlooks – AUD
28.Unemployment Claims – USD
29.Core Durable Goods – USD
30.Consumer Confidence – USD
31.PMI (Purchasing managers’index)Manufacturing – GBP
32.Construction PMI – GBP
33.ISM(institute of Supply Mgt)Manufactory PMI – USD
34.Service P.M.I -GBP
35.RBA(Reserve Bank of Australia Governor Speaks -AUD
36.Average Earnings Index – GBP
37.Monetary Policy Statements – CAD,GBP,JPY,AUD,NZD
38.Unemployement Rates- GBP,USD,AUD,NZD,JPY
39.Core Durable Goods Orders – USD
40.Inflation Expectation – NZD
Traders should learn to “Pend” their trades prior to the time of the “News Release” and not to use “Instant Execution” when the news is already released especially high volatile News Releases.
This is very important as any attempt to place trades immediately the News is released could result in either of the following; Trade context busy,Requote,Do you want to Buy/Sell?
These system delays could cost you alot. It is therefore paramount to use “pending order” in placing trades,setting your stops and targets prior to the release of ‘News’. This is mostly the case in times of high volatile ‘News’ Such as Non-farm Payroll,F.O.M.C and various Economic blocks Chairmen/Bank Governors,President of ECB and Fed.Reserve Chairmen’s Speeches etc.
Please note that times of News releases/trading are not a time for fun or cracking jokes as are the cases with ‘Newbies’and in most trading rooms. It is a time to be focused and a time of utmost seriousness as most accounts are wiped off if you lose focus and not knowing how to go about it.
Hence, it is advised that Newbies should trade cautiously and be more focused during news releases or rather wait for normal market situations to return.
For more information on how to trade profitably CLICK HERE..
Demo trading are simply simulations; They are not “real” and “don’t exactly replicate Live Trading conditions”. Hence, they are termed ‘Demo-accounts or practising accounts..
Aspiring traders can never or rather would find it difficult to develop the necessary mental skill to succeed in real-world trading as long as they cling on to demo-trading for long. The truth is that Demo trading would not teach you so much of live trading, where your goal is to trade consistently and make real money. It is said that consistency makes a trader.
In as much as both newbies and experienced traders routinely use demo accounts to try out new brokers and trading strategies,over dependence on it is the bane of most newbies and not encouraging if you want to develop the mental skill required for consistency in Forex trading as a business,due to the under listed reasons.
1. REAL TRADING CONDITIONS MAY DIFFER:
The reality of trading can be quite different especially during major economic news releases or news events announcements.
2. REQUOTES MAY BE LESS FREQUENT IN DEMO-TRADING:
In order to attract new clients to their demo trading, some brokers might reduce or eliminate requotes from their demo-programs; whereas requotes are common in Live trading situations.
3. EMOTIONAL RESPONSES ARE DIFFERENT:
Successful and consistent trading involves learning to manage ones emotions accordingly.It has been observed that the emotional ups and downs we experience on a live account doesn’t exist in a demo account. The abilities and confidence one develops in a demo account will not help you instead it would hurt you adversely in a live account. Hence,the need to start small and get used to the psychological aspect of trading which is very vital.
4. POOR TRADING HABITS:
Some traders do not learn their lessons when demo trading, because it involves virtual money.They end up developing false confidence and abilities under false circumstances
5. EXCESSIVE USE OF LEVERAGE:
It has been observed that most Demo traders indulge in the use of excess leverage. when such behaviour are carried into trading Live account, it leads to nothing but trade disasters.
Most Demo traders are said to be trigger happy. Simply by entering numerous trades excessively thereby over-trading. This could render them unsuccessful when they move to Live trading. so the earlier it is avoided the better.
7. ORDER EXECUTION TIMES MIGHT BE FASTER:
Since Demo account does not involve real money,this might result in faster execution of trades unlike real accounts which depends on market conditions, especially during various economic news releases or announcements.
In view of the above,it is strongly advised to start with small capital as low as $5, as well as small risk levels and as soon you gain live trading experiences, one could gradually increase his/her lot size.
Secondly,accept that Forex is a business which should be treated as such, that losing is part of trading and that with proper money management,one could grow gradually as well. When we start small one should be prepared to grow accordingly, be able to develop more confidence,ability and faith in ones strategy so as to grow ones account in the long run.
Finally, going into Forex market with the right mindset is very vital to treating Forex as a business and a career over a long period of time. The passion for trading must be developed in order to be able to persevere and get used to the psychological aspect of trading as a whole.
InstaForex Nigeria professionals states that experience has shown that most beginners or newbies in Forex do not know when to place trades,what to look out for before placing trades. These are some of the reasons why most beginners lose all their money. Hence the need for training is very important. These and many more are very well taught via training.
Forex simply means foreign exchange and it involves the buying and selling of foreign currencies only via the brokers platform. It is the most traded financial market in the world. It is opened round the clock,five days a week; enabling traders to act on news and events as they happen. It is a market where half a billion dollars trades can be executed in a matter of seconds and may not even move prices noticeably,quite unlike other markets.
With such a huge financial market the need for training can not be over-emphasised for the under-listed reasons;
1. FOREX AS A BUSINESS: There is the need to see Forex as a business and not gambling, it is only then that the trader/newbie would have the right mindset to embark on the business. It is a long-term business and should be treated as such. Traders are advised to take trading seriously and as business as it’s only then would they be
able to apply the rudiments or strategies necessary for success in the trading. These could only be acquired via training, re-training and advance training.
2. KNOWLEDGE: Forex is knowledge-based. Any business worth its salt requires knowledge. The essence of training is to acquire knowledge. It is said that every business has its secrets and Forex is no exception. Hence,the importance of training is very necessary as the secrets of Forex trading could only be taught or acquired via Forex training.
A trader must be committed to continuous education,study technical analysis,fundamental analysis,psychology of trading,and be able to make logical decisions devoid of emotions and learn to trade in control. These and many more are very vital for trading and could be acquired via training and re-training.W.D Gann said that,”knowledge of the market is more important than money” he went on to say that “time spent in gaining knowledge is money in the bank”. With knowledge,you can take a small amount of money and make more after time spent in gaining knowledge”. Your success depends in knowing the right kind of rules and following them. Forex does not depend on luck,chance or fate like gambling without knowledge. Please go for training.
3. INVESTMENT: Forex trading is Investment,and Investments worldwide or globally is knowledge based. Every aspect of investment needs to be taught. Both investment professionals and beginners are meant to undergo training and retraining in order to update their knowledge. This is a worldwide practice which needs to be upheld.
Hence,the need for Forex training and retraining is very vital to success in Forex trading, and for anyone who wishes to make or take up Forex trading either as a professional or for passive income.
4. STRATEGY: Various strategies are well taught in various Forex training centres across the globe. Most of these strategies are only exposed or taught to members only. Hence, the need for training and retraining can not be over-emphasised. Any person wishing to embark on a Forex journey must be prepared to engage or register with Forex training courses, as these experienced traders or mentors would only expose their strategies to registered members only.
Therefore, any serious minded person should not dabble into Forex without first and foremost undergoing training. In as much as training is very necessary,mentoring is equally vital,as every trainer would wish his or her trainees success. We have heard it from W.D Gann,one of the most successful trader/mentors of all times,that knowledge is very of paramount importance to successful trading. He further stated that passion for trading is equally necessary. It is said that half education is dangerous and since every business has some element of risks associated with it(Forex is no exception). The need for training and retraining need not be over-emphasised.
Forex and Gambling are different things all together. In as much as there are risk associated with trading and gambling, the risks involved in Forex could be minimised/calculated while the risks associated with Gambling are entirely based on luck or chance.
Most traders(Forex) especially Newbies or beginners embark on their Forex journey as gamblers leading to what is known as Forex Gamblers thereby losing a lot of their money. This has led to the saying that one should only trade with the money that he/she can afford to lose.
In as much as there is great risk in Forex the potentials of money making in Forex is as close to endless as any, if not more than any market in the universe. A market where more than 3 to 5 trillion dollars are traded on daily basis far exceeds that of all the stock exchanges globally put together. While the comparison between Gambling and Forex is not totally baseless.
The under listed features differentiate the two industries>>
The Forex Market/Industry is backed by the biggest/largest financial institutions in the world. In as much as traders do not trade with the banks but on retail basis,the fact that market is supported by such financial organisation leads more evidence to a higher level of legitimacy than the gambling industry. Gambling as we know worldwide faces challenges of legitimacy on the legal front.Forex on the other hand is a legitimate business as any other business such as stock markets or commodities markets. Hence one should look out to put his/her hard earned resources in learning how to trade and trading which is legalised and controlled than the Gambling business.
Unlike Gambling one is not totally in the dark about/when opening a position or taking/placing trade. Various schools of thought/Academies are trying to or dedicating much of their time and resources in a bid to minimise the risks associated with Forex trading as possible.These are carried out via technical analysis as well as fundamental analysis. Forex is not about luck unlike gambling. Forex is investment and investment worldwide is knowledge based unlike Gambling. The Forex market could be analysed for days before opening a position and traders could keep an eye on the currencies they intend to trade on before taking a decision to either buy or sell. No such tools exist in the gambling world which is simply based on chance,luck or fate.
One of the main problem with gambling is the issue of addiction. People go into betting,casinos etc with the sole purpose of money thereby letting their emotions get the best part of them. When this desire of making money is not realised they simply keep on gambling thereby losing all their money and most times becoming aggressive. This is not the case with Forex whereby the trader is advised to put his emotion in check or out of the equation though most traders especially newbies or beginners find this psychological aspect very difficult, they soon find out that the way to go/follow is with knowledge unlike gambling. Forex Traders are advised to trade objectively,scientifically,set their goals and abide by them. Thereby Avoiding over-trading and revenge trading this would also put greed in check.
4. STRATEGIES (InstaForex Nigeria Special Tips):
It is said that a high percentage of traders lose money. This is true because they trade blindly without adequate knowledge,skills and above all strategy. Before a trade is taken one has to make serious decision as regards his/her trading goals. Once the decision is made it must be adhered to and implemented to the letter using a brokers platform. Application of stop-losses to checkmate our emotions and the quest to be in a losing trade instead of getting the hell out of it. Secondly, application of take profit to curb our greed of remaining in a trade instead of hoping that the our trade would continue to increase in value. Please utilise stop-loss and take-profit as part of our trading strategies instead of depending on our weak human emotions.
The Amount of money traded in forex on a daily basis cannot be compared to that of gambling worldwide.
Between 3 to 5 trillion dollars or more are traded in the Forex market daily which by far surpasses that of the gambling industry worldwide, hence the Forex market is said to be highly liquid and volatile.
From the above analysis,do you want to be a Forex trader or Gambler? The choice is yours. I’d rather choose to be a Forex trader than a Gambler of which the benefits of profit making is endless and stands out as a long term business.
For information on how to open a free Forex account or instant account funding in Naira Click here..
At InstaForex Nigeria we render high-grade services which are aimed at assisting clients have access to Forex news sms notification, Forex education and other helpful Forex information.
The Forex mindset prepares you to be a successful trader by helping you identify your unique psychological strength, weakness and how you naturally behave in times of financial stress.
Successful trading requires 10% skill and 90% emotional intelligence – Jaret martinez
- See yourself or imagine yourself as a successful trader and be goal oriented.
Characteristics of Goals:
a. It must be realistic -within your capability
b. It must be attainable -begin with a small goal and move up from there.
c. It must be measurable.
d. Self evaluation after
2. Two Reasons for losing trades.
-You follow your rules but the market did not go in your direction.
-You didn’t follow your rule.
3. Remaining Flexible – Get out of closing trade
4. Being Objective
-The market can do and undo
Characteristic of an objective person:
a. You feel no pressure to do anything
b. You have no feeling of fear
c. You feel no sense of rejection
d. There is no absolute Right or Wrong
e. You recognise that this is what the market is telling you.
f. You can observe the market from a perspective as if you were not in a position.
g. You are not focused on money but on the structure of the market.
To be a successful trader you will not always be right but you will always need to be objective..
5. Self Improvement- Very Vital
a. Don’t impose a rigid mental structure on the market’s behaviour.
b. Let go of the fear of being wrong so that you can observe the market from an objective view point.
c. If you concentrate on fear it will cause your subconscious to act out of fear and give you the very losses you are trying to avoid.
-Blaming Others/factors only slows down the learning process.
Professionals at InstaForex Nigeria advise you should not risk more than 5% of your equity(Capital) on each trade..
DOWNLOAD THE TRADING PLATFORM:
a. Go to our website www.instaforex.com.ng
b. Locate Download Platform and click on it
c. Locate Trading platform-version for windows
d. Locate Download metatrader4 Trading platform (zip) and double click
e. Click on ‘itc4setup.exe-Application’
f. This pops up the ‘Terms & License Agreement’dialogue box.
h. Click on “yes” i agree with all the terms of this license Agreement; Then click on ‘Next’ which would be highlighted for you to click on’Finish’
UNDERSTAND FOREX BUSINESS:
It is about Trading on foreign Exchange(currencies) with the aim of profiting from the market.
At Instaforex.com.ng,thorough training is provided to our clients to ensure profitability. Newbies/Beginners should undertake training to ensure that they have a grasp of what it entails.
DEMO-TRADE (PRACTICE ACCOUNT):
On downloading your trading platform; please ensure that when filling out the personal on the information page,key in the amount of money you know that you would use to open your’live account’.This is very very important so that your practice would be realistic and in line with the amount of money you would be able to afford.
Secondly, by so doing you would be more serious with your practice(Demo) Account. The truth is; If you cannot grow a $10 account, you would not be able to grow a $500 dollar account.
DEFINE YOUR TRADING STYLE:
It’s either you are a Scalper by trading on lower timeframes e.g 5minutes, 15minutes,30minutes or 1hour or you are a Long term trader or Positional Trader with a view to enhanced profits.
DEVELOP YOUR TRADING PLAN:
Your trading plan should include whatever strategy you decide to use.Forex is business,every business requires a plan which should be objective.You should be able to keep a trading Journal which should include and not limited to your trading style as stated above, your entry points,take profit price levels and stop losses. Adherence to your trading plan requires discipline devoid of all emotions.
In every endeavour of life we have elements of risks associated with it,Forex is no exception,as risks
associated with investments if not well managed leads to loss of money. Instaforex provides micro trading platform which allows smaller investors as well as huge investors access the forex market.The minimium amount on instaforex micro platform is $10
Adhering to Proper/Risk management could ensure longevity in this business of Forex trading. It is very vital that one adheres strictly to it..
TO YOUR TRADING SUCCESS-
InstaForex MT4 In-built Indicators are softwares/tools which successful traders utilise in effecting trades eg to either place a buy or sell trades while Custom indicators are indicators which are either purchased online or borrowed from friends..
Begin the process by first extracting the software to any storage device or to your Laptop/desktop; then install as follows;
1. Copy the indicator extracted to your Laptop/desktop.
2. Open your Instaforex platform
3. Locate ‘FILE’and click
4. Locate’OPEN DATA FOLDER’and click
5. Locate’MQL4’and double click
6. Locate ‘INDICATOR’and double click.
8. Move your Cursor to the extreme right of the’INDICATOR’window(open space),right click and paste.
9. Close and re-open the platform in order to locate the installed indicator in the navigator.
10. Locate the installed indicator and double click on it.This brings it up on the chart.
11. Click ‘OK’for it to be attached to the chart
N/B please note that if you do not perform the no 8 operation the installed indicator(s) would not appear or
be seen in the navigator.
InstaForex Nigeria Technical Support Team are always ready to help you with additional guide on how to Open a Demo account or Indicator(Software) Installation.
For more enquiries call us +234 903 358 8803 or send us email on [email protected]
Professionals at InstaForex Nigeria advise newbies to key in the amount of money they intend to start Live Trading with, so that the Demo practice would be realistic..
2. Locate Download MetaTrader 4 trading platform (zip)
3. This pops up a dialog box click on “SAVE FILE” and click OK
4. After downloading, Double click on itc4setup.exc(APPLICATION)
5. It pops up a dialog box for you to click on agree; As soon as you agree to the Terms and Conditions’NEXT’would
be highlighted for you to click on in order to proceed.
6. Leave it at ‘STANDARD’
7. When it gets to ‘LEVERAGE’ pick either 1:500 or 1:100
8. When you get to “AMOUNT” please key in the amount of money you intend to start your live trading with, so that your practice would be realistic; The least ‘AMOUNT’ being $3000 does not mean that if you key in $100 it wouldn’t take it.
- Many newbies are in a habit of keying in or practicising with amount of money they cannot afford in true life situation hence they tend to trivialise the demo account. The truth of the matter is if you cannot grow a ten dollar account, you cannot grow a million dollar account.
- Click’ OK’and wait patiently for the platform to come up. next; Right click on the market watch and click on
‘SHOW ALL’ to bring up all tradeable instruments on the platform.
Finally, Install every currency pair that you intend to be trading accordingly.
InstaForex Nigeria Technical Support Team are always ready to help you with additional guide on how to Open a Demo account or Indicator(Software) Installation.
Click here to Open a Free Forex account
The most interesting feature of online Forex trading by InstaForex Broker is the way it is being operated transparently. There is no hide and seek involved in the process..
- Aside the broker’s spread; Online forex trading with InstaForex does not involve any commission, or exchange fees, or hidden costs etc. The trade is done in a very fast pace as there is no kind of any delay involved in it. It takes 1 or 2 seconds to execute the trade in InstaForex
- Traders can trade in different markets with different currencies at the same time without any restrictions. This is only possible with InstaForex because of the high grade online forex trading services it provides. This has brought in lot of flexibility and liquidity in online forex trading. InstaForex Traders are able to trade and access 107 Currency instruments, 88 CfDs on US stocks, Futures, gold and silver, Options Trading, 1:1000 leverage, Swap-free and many more
- Opening of an online forex trading account is very easy as there are many people who can offer this kind of service to the trader. But they need to be very sure that they too deal with the same kind of currencies which the trader is interested in as compare to InstaForex Broker which offers one of the highest numbers of Currency instruments. Click here to open an InstaForex Account
- Volatility is the essence of the currency market. Values for individual currencies rise and fall with news and information happening around the world. Sometimes the fall in a currency can be swift and can help to wipe out your entire account before you can react. So you must prepare for risks if you decide to trade on the Forex market. It is always import to note that the market can change suddenly all because of decisions made by some government or corporation in a distant part of the world.
- Therefore, if you want to become a successful trader in the Forex market, you must learn the fundamentals about the market and the currencies you wish to trade. Also, read press releases and other financial news that are updated on our site home page instaforex.com.ng and political news from around the world. You will do well by learning how to trade with the Candle Sticks Pattern,