Economy
Forex Trading in Nigeria: Beginner Tips, Trends and the Benefits of STIC Cashback
Forex trading is booming across Nigeria, drawing in thousands of new traders eager to make money from currency markets. This beginner-friendly guide explains how to get started, where to learn the basics, and how services like STIC Cashback can boost your profits through the best forex cashback Nigeria offers. Discover how to use the cashback forex calculator, what platforms to trust and how to trade smarter, not harder.
Forex trading is growing rapidly in Nigeria, with more and more individuals turning to the foreign exchange market to build wealth, create side income, or gain financial independence. Thanks to increasing access to online brokers and mobile-friendly platforms, people across the country—from Lagos to Abuja—are exploring how to trade forex like never before.
As this trend picks up momentum, both beginners and experienced traders are seeking smarter ways to trade. One powerful way to get more out of every trade is through cashback forex programs, with STIC Cashback leading the charge as the best forex cashback Nigeria has to offer.
Why forex trading is on the rise in Nigeria
Forex trading, or the exchange of one currency for another, offers flexibility, liquidity and global access. With the Nigerian economy becoming more integrated into global markets, forex is becoming an attractive financial opportunity for many Nigerians.
People are drawn to the 24-hour nature of the forex market, the low barrier to entry and the chance to learn and grow independently. Whether you’re trading major currency pairs like EUR/USD or looking into CFDs (contracts for difference), forex offers endless possibilities.
However, entering the market without preparation can be risky. That’s why it’s essential to start with a guide like the one found at sticcashback.com/blog/how-to-trade-forex-for-beginners. It provides the fundamentals on how to trade forex for beginners, including broker selection, setting up your account and managing risk.
Getting started: How to trade forex for beginners
As highlighted in the STIC Cashback blog linked above, starting with a solid foundation is key. Here’s a quick roadmap for beginners:
- Learn the basics – Understand how currency pairs work, how pips are calculated and what affects market movements.
- Choose a trusted broker – Work with brokers partnered with STIC Cashback to enjoy cashback benefits on every trade.
- Set goals and risk levels – Define your trading plan and use tools like stop-losses and take-profit orders.
- Start small, grow smart – Begin with a demo account or micro-lots, especially if you’re still learning.
When paired with the cashback forex calculator, beginners can estimate how much they’ll earn back from their trades through cashback—something that can significantly impact long-term profitability.
The power of cashback forex programs
Forex trading can involve fees and commissions, which add up quickly over time. Cashback forex programs offer a simple but powerful way to reduce those costs by returning a portion of your trading volume as real money.
Here’s where STIC Cashback shines.
- Weekly cashback – STIC Cashback provides a weekly cashback forex payment based on how much you trade.
- Low withdrawal minimum – You can withdraw once your cashback hits just $50.
- No catch – You earn your cashback simply by trading with STIC Cashback’s trusted broker partners.
- Best rates – Their offer is widely considered among the best forex cashback Nigeria users can access today.
With STIC Cashback, traders get back a portion of every trade. This effectively lowers trading costs and increases profitability. The STIC Cashback forex calculator lets you forecast your cashback earnings based on your trading volume, helping you plan smarter and making it far and away the best forex cashback Nigeria has to offer.
Why Nigerian traders trust STIC Cashback
STIC Cashback stands out for its transparency, fast payments and strong relationships with reliable brokers. Nigerian traders love STIC Cashback because:
- It’s easy to use.
- It works with top brokers who accept Nigerian traders.
- Payments are reliable, safe and timely.
- You can calculate your rewards using the cashback forex calculator before you even trade.
As a service built for both beginner and expert traders, STIC Cashback is helping make forex more profitable and accessible and is easily the best forex cashback Nigeria can offer its traders. Whether you’re just starting or already trading daily, it makes sense to earn extra from each trade.
Partner with trusted brokers, trade with confidence
One of the biggest benefits of using STIC Cashback is access to their network of trusted broker partners. These brokers meet high standards for safety, speed and transparency, ensuring you can trade forex and CFDs confidently.
When you trade through one of these brokers and use STIC Cashback, you’re not only gaining an edge through low spreads and strong platforms, but you’re also earning a rebate every week. It’s the perfect blend of efficiency and extra income.
Join Nigeria’s growing forex community today
With forex trading gaining popularity in Nigeria, there’s never been a better time to start. Thanks to resources like the STIC Cashback beginner’s guide and tools like the cashback forex calculator, new traders can begin with clarity and confidence.
Sign up today at www.sticcashback.com and start trading with one of STIC Cashback’s broker partners. Tap into the best forex cashback Nigeria traders can rely on. Whether you’re looking to trade full-time or just want to earn from market movements in your spare time, STIC Cashback can help you grow your account faster.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell by 0.24 per cent on Friday, April 25 after the duo of FrieslandCampina Wamco Nigeria Plc and Afriland Properties Plc landed on the losers’ table.
FrieslandCampina Wamco Nigeria Plc depreciated by N2.58 to sell at N35.37 per unit compared with the previous day’s N37.95 per unit, and Afriland Properties Plc lost 2 Kobo to close at N17.78 per share versus Thursday’s closing value of N17.80 per share.
However, Geo-Fluids Plc appreciated by 10 Kobo during the trading day to sell for N1.80 per unit, in contrast to the preceding session’s N1.70 per unit. The rise in the price of the stock could not prevent the fall of the bourse yesterday.
Consequently, the market capitalisation of the trading platform went down by N4.64 billion to N1.914 trillion from N1.918 trillion and the NASD Unlisted Security Index (NSI) declined by 7.92 points to 3,269.06 points from 3,276.98 points.
The final trading session of the week ended with a surge of 1,695.8 per cent in the volume of securities transacted to 3.7 billion units from the 206.2 milion units transacted in the previous trading day.
Equally, the value of transactions jumped by 2,592.6 per cent to N9.5 billion from N354.1 million on Thursday, and the number of deals decreased by 47.4 per cent to 20 deals from the 38 deals recorded a day earlier.
Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 533.9 million units sold for N520.9 million, followed by Geo-Fluids Plc with 259.3 million units worth N456.1 million, and Okitipupa Plc with 153.6 million units valued at N4.9 billion.
Also, Okitipupa Plc remained the most active stock by value on a year-to-date basis with 153.6 million units valued at N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 15.6 million units worth N598.5 million, and Impresit Bakolori Plc with 533.9 million units sold for N520.9 million.
By Dipo Olowookere
A 0.30 per cent fall was recorded by the Nigerian Exchange (NGX) Limited on Friday as a result of profit-taking in the industrial goods sector.
This was mainly caused by sell-offs in Dangote Cement Plc, which released its financial statements for the first quarter of 2025 yesterday.
The cement maker lost 10.00 per cent during the session to trade at N432.00, Regency Alliance lost 8.06 per cent to close at 57 Kobo, VFD Group depreciated by 7.57 per cent to N17.10, Chams declined by 7.27 per cent to N2.04, and Sovereign Trust Insurance crashed by 6.12 per cent to 92 Kobo.
Conversely, International Breweries, Legend Internet, and Ikeja Hotel gained 10.00 per cent each to sell for N7.70, N6.82, and N12.10 apiece, Vitafoam Nigeria surged by 9.93 per cent to N44.85, and Eterna rose by 9.92 per cent to N39.90.
The industrial goods index was down by 4.73 per cent on Friday, as the others finished in green territory.
The consumer goods space rose by 2.21 per cent, the banking sector appreciated by 1.55 per cent, the insurance counter expanded by 1.50 per cent, the energy sector increased by 0.07 per cent, and the commodity industry went up by 0.04 per cent.
At the close of transactions, the All-Share Index (ASI) went down by 321.21 points to 105,753.05 points from 106,074.26 points and the market capitalisation shrank by N202 billion to N66.465 trillion from N66.667 trillion.
The level of activity increased yesterday as the trading volume, value, and number of deals grew by 30.40 per cent, 94.23 per cent, and 17.64 per cent, respectively.
This was because investors transacted 428.1 million shares worth N20.2 billion in 14,284 deals compared with the 328.3 million shares valued at N10.4 billion in traded in 12,142 deals a day earlier.
GTCO led the activity chart with 60.7 million equities sold for N3.8 billion, Fidelity Bank traded 41.4 million stocks worth N829.3 million, Access Holdings exchanged 40.6 million shares valued at N968.3 million, MTN Nigeria sold 33.0 million equities for N8.2 billion, and Zenith Bank transacted 22.9 million stocks worth N1.1 billion.
By Adedapo Adesanya
The Naira extended its gains against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, April 25 by 0.22 per cent or N3.59 to sell for N1,599.42/$1 compared with the N1,603.01/$1 it was traded in the previous session.
The Nigerian currency also improved its value against the Euro in the official market by N1.36 to close at N1,818.53/€1 compared with Thursday’s closing price of N1,819.89/€1.
However, the domestic currency depreciated against the Pound Sterling in the same market segment yesterday by N1.90 to wrap the session at N2,130.44/£1 versus the preceding session’s rate of N2,128.50/£1.
At the black market segment, the Naira appreciated against the greenback on Friday by N2 to quote at N1,605/$1, in contrast to the previous day’s value of N1,607/$1.
In the cryptocurrency market, a possible regulatory progress about digital assets in the US spurred buying interest among investors during the trading session.
The chairman of the US Securities and Exchange Commission, Mr Paul Atkins, was at a crypto roundtable on Friday and he devoted his inaugural speech to assuring the industry that he will continue to remake securities policy to favor digital assets innovation.
Litecoin (LTC) rose by 3.0 per cent to $87.24, Dogecoin (DOGE) grew by 2.7 per cent to $0.1862, Bitcoin (BTC) increased by 1.3 per cent to $94,687.84, Ethereum (ETH) jumped by 1.2 per cent to $1,797.51, Cardano (ADA) improved by 0.9 per cent to $0.7235, and Ripple (XRP) gained 0.6 per cent to close at $2.20.
On the flip side, Solana (SOL) depreciated by 0.9 per cent to $151.64, and Binance Coin (BNB) lost 0.8 per cent to sell for $602.89, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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