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No Regulation
Score
1.50 /10
Danger
Earn Forex Nigeria
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index6.95
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
Previous Detection :
2024-12-25
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
General Information & Regulation
Earn Forex Nigeria is an investment company based in Nigeria, with its founding time, real address, and the company behind it not disclosed to all. Earn Forex Nigeria advertises that it offers the opportunities of investing in indices, commodities, crude oil, gold and forex financial markets. No regulatory license details are found on the Earn Forex Nigeria website, so Earn Forex Nigeria is obviously an unregulated broker trying to scam brokers.
Market Instruments
At Earn Forex Nigeria, traders can invest in Indices, Commodities Trading, Brent Crude Oil, Gold Trading, and Forex Trading.
Account Types
Earn Forex Nigeria offers two types of trading accounts: Indices account and Forex account.
Investors who open an indices account can gain exposure to top 5 financial markets including DJIA (us30), FTSE100 (UK100), Hang Seng (HK50), NASDAQ-100 (US100), as well as S&P 500. Investors with forex accounts can trader with some popular currency pairs.
Minimum Deposit
As for the indices trading accounts, an individual account require a minimum initial deposit of $1,000, and the corporate account need to be deposited at least $10,000. For people who want to open a forex trading account, they are required to inject at least $10,000 into their accounts.
Leverage
When it comes to trading leverage available, the maximum leverage level offered by Earn Forex Nigeria is relatively high, reaching up to 1:500. Since leverage can amplify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Auto-Trading
Earn Forex Nigeria advertises that it offers the Auto-Trading/Forex Robot. A forex robot is computer software – often referred to as an artificially intelligent trading algorithm – that is used to automatically execute forex trades. Earn Forex Nigerias forex robot offers three trading strategies: Conservative (with a minimum deposit of $1,000), Dynamic (with a minimum deposit of $3,000), and Aggressive trading strategy.
Customer Service
Earn Forex Nigeria has three offices in the Oyo State, Ssun State and Kwara State: and its customer support team can be reached though telephone/whatsapp: +234 8068860520, as well as a contact form.
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