Forex trading in Nigeria requires an insight into optimal trading times and strategies. Since there are different sessions, each offering unique opportunities, it is important to know when to trade for maximum profit. Below we’ll cover the best times to trade and the best affiliate programs that can boost your profits. Keep reading to learn more about what can improve your trading knowledge.
Optimal Forex Trading Times in Nigeria
The best time to trade Forex in Nigeria depends on a combination of factors like the trading session, your chosen currency pairs, and the type of trader you are. According to Traders Union, the New York session Forex time in Nigeria runs from 3:00 pm to 12:00 am, offering some of the highest market activity, particularly for pairs like EUR/USD and GBP/USD. During this time, liquidity increases, and traders benefit from tighter spreads and more predictable market movements.
Research shows that the optimal trading window for Nigerian traders is typically between 10:15 am and 2:30 pm. This period experiences reduced morning volatility, which allows for more stable conditions. Most traders in Nigeria focus on major pairs such as EUR/USD and USD/JPY, with over 80% preferring these due to their lower volatility and higher liquidity.
Both long-term and intraday strategies are widely used, with 52% of traders favoring intraday trading for its quick returns, while 48% find long-term strategies effective for larger profit potential.
Top Forex Affiliate Programs in Nigeria
The right choice of a Forex affiliate program can significantly increase your earning potential in Nigeria. Effective programs should provide solid commission structures while accommodating local market conditions. Below is a list of some of the most rewarding Forex affiliate programs, highlighting their payouts and requirements for Nigerian residents.
RoboForex
Earnings Potential: Revenue Share up to 70%
Action: Promote affiliate links on social media.
XM Group
Earnings Potential: Up to $25 per lot
Action: Promote affiliate links on social media.
Bybit
Earnings Potential: 10% to 30% per sale
Action: Promote affiliate links on social media.
Fidelcrest
Earnings Potential: Up to 15% of sales generated
Action: Promote affiliate links on social media.
IQCent
Earnings Potential: 20% of client deposits
Action: Promote affiliate links on social media.
IC Markets
Earnings Potential: Up to 50% commission
Action: Promote affiliate links on social media.
Exness
Earnings Potential: Up to $1,850 for each active client and $45 for each new registration
Action: Promote affiliate links on social media.
AAFX
Earnings Potential: Up to 25% commission
Action: Promote affiliate links on social media.
Funded Next
Earnings Potential: Up to 15% commission
Action: Promote affiliate links on social media.
BitGet
Earnings Potential: Up to 50% rebate on transaction fees
Action: Promote affiliate links on social media.
These options present an opportunity for Nigerians to engage in affiliate marketing while benefiting from high payouts.
As financial analyst Sholanke Dele argues, it is important to get the timing right to maximize your trading success in Nigeria. “The New York session Forex time in Nigeria runs from 3:00 pm to 12:00 am,” he states, “which typically sees the highest market activity, especially for pairs like EUR/USD and GBP/USD.” This session offers increased liquidity, resulting in tighter spreads and more predictable price movements, making it a prime time for traders.
Dele recommends that Nigerian traders also focus on the optimal trading window between 10:15 am and 2:30 pm. “During this period, morning volatility tends to settle, allowing for a more stable trading environment,” he explains. Most Nigerian traders prefer major pairs, particularly EUR/USD and USD/JPY, due to their liquidity and lower volatility.
When it comes to trading strategies, Dele highlights the effectiveness of both long-term and intraday approaches. “While 52% of traders lean toward intraday trading for quick returns, 48% find long-term strategies provide greater profit potential over time,” he notes.
For those who want to increase their income through affiliate marketing, choosing the right Forex affiliate program can make a big difference. Dele points out that effective programs should align with local market conditions and offer solid commission structures. This alignment allows traders to not only engage in profitable trading but also capitalize on lucrative affiliate opportunities, boosting their overall income potential.