Forex trading in Nigeria is something that is no longer new as there are various Forex broke
rs in the country. One of the Forex brokers available to Nigerian investors is Eagle Global Markets (EGM), a company launched in the year 2016. On the EGM platform, you get access to over 1,000 markets and you can trade directly with the Nigerian currency (Naira). This article is a review of the company for the interest of those who wants to invest with them.
There are two featured trading platforms on EGM and they are the Meta Trader 4 (MT4) and the CloudTrade platform. Both platforms can be accessed online via browsers or by using the EGM mobile application.
Trading accounts on Eagles Global Markets
There are 3 different trading account types on EGM and they include;
Classic Account: EGM classic account is a basic trading account, you own a classic account without depositing any money on the platform. Classic account holders get access to a free education course.
Pro-ECN: if you are learned in Forex, you should know what an ECN account is. Eagle Global Markets allows you to own one by making a deposit up to $250. The account has a lot of Pro features that sets it apart from the Classic account and it offers Individual Training Support.
Pro-VIP: the Pro-VIP account is the highest trading account on EGM. To become a Pro-VIP account holder, you are required to deposit up to $2,000 and you get a dedicated account manager to handle your transactions.
The minimum trade level is the same for all accounts and commissions do apply to Pro-ECN and Pro-VIP accounts. Classic accounts have a spread from 1.4 pips while it is at 1.2 pips for the Pro accounts.
Eagles Global Market Account Registration
Before you open a live trading account, EGM features a demo trading account you can use to practice and know how the platform works. Opening both accounts (demo and live trading accounts) are easy and can be done by visiting their official website – www.eagleglobalmarkets.com.
On the homepage, you would find “Open a live account” or “Open demo account”; select whichever you want. You would be required to enter your personal details to complete your registration and email verification will be required for the live account. Also, you would complete a quick survey about your previous trading experience (if any) and also your financial details to check your suitability for trading.
EGM Mobile Application
Eagles Global Market features a mobile app for CloudTrade and Meta Trader 4 trading platforms; clients can easily trade with their mobile devices by downloading and installing this application. This app is available to users of Android and iOS mobile devices and it can be downloaded from their respective app stores.
EGM is a legit Forex broker to trade with, so as a Nigerian, you can invest with them. However, high deposits are involved and the company issues a risk warning to all their investors so, it is advisable that you trade with caution.