How to add Funds to your account

Forex Trading Nigeria

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Posted by on Thursday October 4, 2012 16:46:47:

As a trader, when you are already to do live trading with real money and also make money, you will need to have real money in your account and to have that money, you would need to pay for it from your account.

In Nigeria, there are 2 main ways to funds a forex trading account and these are:

- Bank wire
- Liberty reserve

Liberty reserve seems to be the more popular means since most people who use it are newbies that just want to add small amounts like $100 to $1000 to their account. Other more professional traders who may need to add higher amounts tend to make use of bank wires and for that, they'd need a domiciliary account.

By Bank Wire
To add funds to your account using a bank to bank wire, you should have a domiciliary account funded in the same currency as your trading account. Log into your forex account and get to know the transfer details for doing a bank wire. Go to your bank and apply for that transfer. It normally carries some charges and so good for transferring larger amounts like $5000+. Bank wires take about a week to reflect in your account and after that, you can start trading with real money.

By Liberty reserve
To add funds to your forex account using liberty reserve, you would need to have:
- A liberty reserve account
- A forex account
- Funds

Just pay funds in naira to a local liberty reserve exchanger and your account should be funded within 24 hrs. There are a couple of exchangers in Nigeria and all it requires is you make an online order, pay by bank deposit and your account would be credited within a few hours.

After the funds have been added to your LR account, you can then do a transfer from lr to your forex account by logging into your forex account. Afterwards, you can start trading with real money.