Economy
A Full List of the Best Brokers in 2023 Published on Tradersunion.com
Choosing an ideal Forex broker is a crucial but often complex task, pivotal to achieving success in trading, whether for novices or experienced traders. Essential aspects to evaluate include the trading environment, fee structures, range of financial instruments, and account types.
TU analysts compiled Full brokers list on tradersunion.com, using criteria such as the spread size, the array of trading tools supported, and the caliber of customer service. This extensive list guides traders seeking to make knowledgeable decisions, enhancing their likelihood of success in the Forex market.
What is Forex trading all about?
Traders Union underscores the crucial function of Forex brokers within the online currency exchange infrastructure. As intermediaries between traders and liquidity providers, brokers enable access to many financial markets. They provide an online platform with tools for managing currency pairs and placing trading orders. Beyond furnishing a platform, brokers perform trade execution services, ensuring prompt and precise trades. They earn from competitive spreads irrespective of traders’ performance. Utilizing their links with market makers, like banks and hedge funds, brokers facilitate liquidity in the Forex market. Furthermore, they offer diverse trading alternatives, encompassing spot, forward, and futures contracts.
How to choose a Forex broker
According to TU analysts, it is crucial to consider the following factors when selecting a Forex broker for successful trading:
Regulation and reliability:
- Validate the broker’s license and regulatory compliance.
- Look for oversight from reputable authorities such as the UK’s FCA, Australia’s ASIC, or Cyprus’ CySEC.
- Ensure fund safety by choosing a regulated broker.
Trading assets:
- Check if the broker offers diverse trading assets beyond significant currency pairs.
- If interested in trading these markets, look for brokers that provide access to commodities, indices, and cryptocurrencies.
Spreads, commissions, and fees:
- Compare spreads, commissions, and additional fees charged by different brokers.
- High charges can significantly impact your profits, so consider cost-effectiveness.
- Confirm any costs associated with deposits and withdrawals.
Reviews and testimonials:
- Investigate the experiences of other traders with the broker through independent reviews and testimonials.
- Avoid brokers with negative reviews, which may indicate potential issues or poor service.
Extra features:
- Look for brokers offering additional tools and features to benefit your trading.
- Examples include VPS (Virtual Private Server), copy trading, educational resources, and analytical tools.
- Verify the availability of these features before committing to a broker.
TU’s list of best 3 Forex brokers in 2023
Traders Union highlights the significance of comprehending the PAMM account manager-broker relationship, revealing the top three Forex PAMM Brokers for 2023.
RoboForex
This prominent Forex broker has a history dating back to 2009 and offers an advanced RAMM PAMM account system. Regulated by the International Financial Services Commission (IFSC) in Belize, it is compatible with various trading platforms and requires a minimum deposit of $10.
FxPro
Established in 2006 in Cyprus, this company possesses licenses from multiple regulators, including CySEC, SCB, FCA, and South Africa’s FSCA. Upon request, it offers its clients access to the Multi-Account Manager (MAM) system.
IG Markets
IC Markets, founded in Sydney, Australia, in 2007, is licensed by AFSL and regulated by ASIC. They provide an “Investment Manager” program, offering their clients guidance on participating in the MAM, PAMM, and LAMM systems.
In addition to the above-mentioned Forex PAMM brokers, another noteworthy option is Forex4you. As recommended by TU experts, Forex4you is a reliable broker that offers PAMM accounts and is regulated by the Financial Services Authority (FSA) in the British Virgin Islands. They allow traders to invest in experienced PAMM account managers and diversify their portfolios.
Conclusion
In conclusion, selecting a Forex broker is vital in achieving trading success. Factors such as regulation, asset variety, costs, and additional features should be carefully considered. Notable brokers for PAMM accounts in 2023 include RoboForex, FxPro, and IG Markets. However, choosing a broker that aligns with your specific trading needs and strategies is essential. For more detailed information, visiting the Traders Union website is recommended.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) says the rollout of electronic invoicing (e-invoicing) will strengthen tax compliance, curb revenue leakages and improve transparency in tax administration as it moves to fully digitise the country’s tax system.
The Project Lead for the NRS e-Invoicing Project, Mr Mohammed Bawa, stated this at the DigiTax E-Invoicing Compliance Breakfast Session held in Lagos on Wednesday.
The event, organised by DigiTax, an NRS-accredited e-invoicing platform, formed part of efforts to support the agency’s ongoing education and sensitisation campaign on the e-invoicing mandate.
Mr Bawa said the initiative aligns with global trends in tax digitisation and is expected to help improve Nigeria’s tax-to-GDP ratio, which remains one of the lowest in Africa.
According to him, the system will provide the NRS with greater visibility into transactions across sectors, formalise activities within the informal economy and standardise invoice formats nationwide using globally recognised invoice schemas.
He added that e-invoicing would improve operational efficiency for both businesses and tax authorities while supporting the NRS’ transition from manual and electronic tax administration processes to a fully automated system-to-system interaction model.
Mr Bawa noted that the legal framework for implementation is backed by the Nigeria Tax Administration Act, which prescribes penalties for non-compliance.
He disclosed that the NRS has completed onboarding large taxpayers and is preparing to enforce compliance with defaulting entities.
According to him, medium taxpayers are expected to begin compliance in the third quarter of 2026, while onboarding of emerging taxpayers will commence in 2027, with full adoption targeted for all taxpayers by the end of 2028.
Mr Bawa urged taxpayers yet to be onboarded onto the platform to begin the process and work with accredited service providers to ensure compliance.
On his part, Country Director of DigiTax Nigeria, Mr Olumide Akinsola, urged businesses to look beyond their internal systems and assess the compliance status of suppliers and counterparties.
He warned that businesses whose suppliers fail to transmit invoices through the MBS platform risk losing eligibility to claim Value Added Tax (VAT) input credits on such transactions, describing the resulting supply chain exposure as a significant commercial risk that many organisations have yet to quantify.
Mr Akinsola also announced the launch of DigiTax’s white paper, The State of E-Invoicing Readiness in Nigeria, which examines compliance adoption trends and the readiness gap across different taxpayer segments.
He added that DigiTax operates in Nigeria, Kenya, Zambia and the United Arab Emirates (UAE), noting that experience from those markets shows businesses that integrate early are better positioned to avoid disruptions when enforcement begins.
By Aduragbemi Omiyale
The names of about 100,000 companies registered by the Corporate Affairs Commission (CAC) are about to be deleted for inactivity, especially for failing to file their annual tax returns, Business Post reports.
This information was disclosed by the CAC via a notice signed by its management on Wednesday, July 15, 2026.
The list contains organisations like the Nigeria-Poland Chamber of Trade Invest Ltd, Alariwo of Afrika Ltd, Ovation Sports International, First Union Pension Fund Administrators, Investopedia Limited, Baptist High School Abuja Ltd, and Yobe Aluminium Manufacturing Industries Ltd, amongst others.
In the statement, the commission said its decision to strike off the names of the affected firms from the register aligns with the provisions of Section 692(3) (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
However, the affected companies can still salvage the situation by filing all outstanding annual returns and regularising their records within 90 days.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the register without further notice,” it declared, expressing its continued commitment to providing prompt and efficient registration and regulatory services to the satisfaction of its valued customers.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange gained 1.75 per cent on Wednesday, July 15, pushing the NASD Security Index (NSI) up by 74.20 points to 4,316.51 points from 4,242.31 points, as the market capitalisation added N44.54 billion to finish at N2.590 trillion compared with the preceding session’s N2.546 trillion.
During the session, there was an 11.5 per cent rise in the value of transactions at midweek to N72.7 million from the preceding session’s N65.2 million, as there was a 3.7 per cent growth in the number of deals to 28 deals from the previous session’s 27 deals, while the volume of securities slumped by 64.5 per cent to 4.9 million units from 13.7 million units.
At the close of trades, Great Nigeria Insurance (GNI) Plc ended as the most active security by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, with the second spot occupied by Infrastructure Credit Guarantee (Infracredit) Plc after selling 2.3 billion units valued at N6.5 billion, and the third position was taken by Central Securities Clearing System (CSCS) Plc, which exchanged 74.3 million units for N5.3 billion.
GNI Plc also finished the trading day as the most traded stock by volume on a year-to-date basis, with a turnover of 3.4 billion units traded for N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
Business Post reports that the market breadth index was negative yesterday, as there were two price gainers and three price losers.
11 Plc added N22.36 to its value to close at N250.00 per share versus N227.64 per share, and CSCS Plc improved by N7.95 to N90.35 per unit from N82.40 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc lost N1.37 to end at N150.00 per share versus N151.37 per share, UBN Property Plc depreciated by 6 Kobo to N1.75 per unit from N1.81 per unit, and Food Concepts Plc dropped 1 Kobo to close at N2.49 per share versus N2.50 per share.
