To save more Nigerians from burning their fingers in forex trading through ignorance, Forex Time Trading West Africa (FXTM) Nigeria, formally Alpari Trading West Africa, has said that this informed its recent rebranding. Speaking with BusinessDay over the weekend in Lagos, Michael Akinwale, Public relations manager of the company, said the rebranding would afford it the opportunity to serve Nigerians better.
“We rebranded to give us the opportunity to offer services that we couldn’t offer through the former platform. We are now indigenous and we are out to help Nigerians create wealth,” Akinwale said. Abiola Akinyele, FXTM director, disclosed that the company has been organising seminars and conferences to correct the misconceptions about forex trading. “We at Forex Time understand the challenge people face trading on the currency market. We also understand the inability of people to get trading facilities probably because of their locations or work schedules.
So organising a conference or forum will enable us pass the basic information about trading and also, as experienced traders who have been trading for many years and understand the nitty-gritty of trading on the currency market, we try to assist others through such meetings, Akinyele said.
On how the company hoped to convince Nigerians who had been hard done by in that business in the recent past to still put in their money in forex business, Akinyele said, “As a trader I had that fear when I started some years ago; we had a wrong perception of what forex trading is all about, people did not know or have enough knowledge about the market and they just jumped into it, that’s why we had the number of casualties that were recorded in those days.
While we were with Alpari, we started a process of correcting that perception, and now we have rebranded, we have been able to reach many Nigerians and we are still reaching out.” According to him, expectations from the conferences in parts of the country include, “that traders become fully aware of the opportunities in the e-trading; that they’ll begin to value money and see it as life; make consistent profits and show long period of consistent profits; and to enable us collaborate to make Nigeria the hub of e-training in Africa.”
Explaining the offering of FXTM, Akinyele said, “Our free introductory seminars are open to the public, giving anyone the chance to learn the fundamentals of forex trading. We also have training programmes for both beginning and advanced traders. A seasoned trainer will work with you every step of the way, making sure you stay on the right track.
“Our offices in Abuja, Lagos and in Port Harcourt allow us to be closer to our clients and provide them with the highest possible level of customer service. “Before FXTM arrived in Nigeria, deposits and withdrawals were both expensive and time-consuming. Now with FXTM, withdrawals can be posted to your account in 24-48 hours.”
Oludahun Bade-Ajidahun, an official of the company, stressed that lack of proper education by those who claimed they knew all about forex market was responsible for the huge losses Nigerians suffered in that business. He advised that Nigerians must seek the right knowledge to enable them succeed in the currency market. “You can’t achieve success without a strategy; they did not give us the right orientation,” he emphasised.