Economy
Strifor Broker Launches Summer Client Contest
In July 2023, all clients of Strifor broker can take part in a trading contest, the winners of which will receive money prizes ranging from $1,000 to $3,000.
It should be reminded that the Strifor broker has been present on the market for more than three years. It is trusted by traders from CIS countries, Asia (it is especially popular among investors in Indonesia and India) and North Africa. Four account types are available on the service, one of which is an Islamic account. All accounts have fairly low commissions and spreads. For example, Professional account holders, the commission per lot when trading metals and currency pairs does not exceed $5; spreads start at 0.1 pip. Basic and Advanced accounts have slightly higher commissions: $8 and $7 per lot; however, the leverage is 1:500, whereas on the Professional account, the leverage is 1:200.
The Strifor broker’s partners also appreciate its affiliate program and loyalty program. The former allows earning income from all of the referrals’ trades. When the highest, Gold level, is reached, the commission bonus reaches 60%. Two other levels, Silver and Bronze, have 50% and 40% correspondingly. With the Loyalty Program, traders can use their deposits to accumulate funds with an annual yield of up to 18%. Due to this, the Strifor clients can switch from one type of account to another much faster, without investing extra money on their part.
Conditions for participation in the contest
All active users of the service are eligible to take part in the contest. This means that a trader should be verified at strifor.org and has one of the real account types open.
For participation, it is necessary to:
- Send a free-form application to [email protected] with the number of the account participating in the contest;
- Confirm consent to participate in the contest by sending an email.
All traders who work over 50 lots during the campaign are guaranteed to win prizes.
There is one important thing! Only orders with activity more than 10 minutes and with the result not less than +/-20 points by Forex tools and metals are taken into the contest results.
The traders, who worked with the largest volume, will get money prizes from the Strifor broker. The award amounts to:
- 1st place – $3000;
- 2nd place – $2000;
- 3rd place – $1000.
The contest period is from July 1, 2023, to July 31, 2023. It is possible to take part in the campaign at any time. The main thing is to send an application during the period of this campaign.
Summing up of results and awarding of prizes
The results of the contest will be announced from August 1, 2023 to August 7, 2023. All prizes will be awarded automatically on August 7, 2023.
Intermediate results will be regularly posted on strifor.org in the “News” section, as well as on the broker’s official Telegram-channel.
Further information on the contest
The Strifor broker points out that:
- Winners and other participants in the campaign are personally responsible for payment of taxes and other fees associated with receiving the money reward;
- If a winner refuses to verify his/her profile and provide identification details, he/she may be denied a prize;
- Only one prize may be awarded to one trader;
- The Strifor employees and their relatives are not eligible to participate;
- All questions and claims regarding the campaign are handled according to the clauses of the client agreement posted on the Strifor broker’s website;
- Participation in the trading contest automatically implies that the trader is familiar with the rules of the contest and fully accepts them.
The broker also notes that the contest winners may be invited for advertising and marketing activities (interviews, photo- and video-reportages, and media publications). At the same time, Strifor undertakes not to disclose the personal data of the campaign participants without their prior consent.
By Dipo Olowookere
Investors at the Nigerian Exchange (NGX) Limited have continued to show excitement for the full-year earnings of companies on the exchange so far.
On Friday, Customs Street further appreciated by 1.01 per cent as more organization released their financial statements for the 2025 fiscal year.
During the session, traders continued their selective trading strategy, with the energy sector going up by 2.47 per cent at the close of business despite profit-taking in the banking counter, which saw its index down by 0.11 per cent.
Yesterday, the insurance space grew by 2.16 per cent, the industrial goods segment expanded by 1.70 per cent, and the consumer goods industry jumped by 0.42 per cent.
Consequently, the All-Share Index (ASI) increased by 1,722.13 points to 171,727.49 points from 170,005.36 points, and the market capitalisation soared by N1.106 trillion to N110.235 trillion from the N109.129 trillion it ended on Thursday.
Business Post reports that there were 59 appreciating stocks and 19 depreciating stocks on Friday, representing a positive market breadth index and strong investor sentiment.
The trio of Omatek, Deap Capital, and NAHCO gained 10.00 per cent each to sell for N2.64, N6.82, and N136.40 apiece, as Zichis and Austin Laz appreciated by 9.98 per cent each to close at N6.72 and N5.40, respectively.
Conversely, The Initiates depreciated by 9.74 per cent to N19.45, DAAR Communications slumped by 7.32 per cent to N1.90, United Capital crashed by 6.55 per cent to N18.55, Coronation Insurance lost 5.71 per cent to quote at N3.30, and First Holdco shrank by 5.53 per cent to N47.00.
The activity chart showed an improvement in the activity level, with the trading volume, value, and number of deals up by 33.77 per cent, 93.27 per cent, and 10.63 per cent, respectively.
This was because traders transacted 953.8 million shares worth N43.1 billion in 51,005 deals compared with the 713.0 million shares valued at N22.3 billion traded in 46,104 deals a day earlier.
Fidelity Bank was the most active with 92.4 million units sold for N1.8 billion, Chams transacted 69.2 million units valued at N310.9 million, Deap Capital exchanged 59.1 million units worth N382.7 million, Access Holdings traded 57.2 million units valued at N1.3 billion, and Tantalizers transacted 48.6 million units worth N228.2 million.
By Adedapo Adesanya
The value of the Naira contracted against the United States Dollar on Friday by 13 Kobo or 0.01 per cent to N1,366.19/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) from the previous day’s value of N1,366.06/$1.
According to data from the Central Bank of Nigeria (CBN), the Nigerian currency also depreciated against the Pound Sterling in the same market window yesterday by N2.37 to N1,857.75/£1 from the N1,855.38/£1 it was traded on Thursday, and further depleted against the Euro by 57 Kobo to close at N1,612.52/€1 versus the preceding session’s N1,611.95/€1.
In the same vein, the exchange rate for international transactions on the GTBank Naira card showed that the Naira lost N8 on the greenback yesterday to N1,383/$1 from the previous day’s N1,375/$1 and at the black market, the Nigerian currency maintained stability against the Dollar at N1,450/$1.
FX analysts anticipate this trend to persist, primarily influenced by increasing external reserves, renewed inflows of foreign portfolio investments, and a reduction in speculative demand.
In the short term, stability in the FX market is expected to continue, supported by policy interventions and improving market confidence.
Nigeria’s foreign reserves experienced an upward trajectory, increasing by $632.38 million within the week to $46.91 billion from $46.27 billion in the previous week.
The Dollar appreciation this week appears to be largely technical, serving as a correction to the substantial losses experienced from mid- to late January.
Meanwhile, the cryptocurrency market slightly appreciated, with Bitcoin (BTC) climbing near $68,000, up nearly 5 per cent since hitting $60,000 late on Thursday after investor confidence in crypto’s utility as a store of value, inflation hedge, and digital currency faltered.
The sell-off extended beyond crypto, with silver plunging 15 per cent and gold sliding more than 2 per cent. US stocks also fell.
The latest recoup saw the price of BTC up by 4.7 per cent to $67,978.96, as Ethereum (ETH) appreciated by 6.3 per cent to $2,021.10, and Ripple (XRP) surged by 9.5 per cent to $1.42.
In addition, Solana (SOL) grew by 7.3 per cent to $85.22, Cardano (ADA) added 6.1 per cent to trade at $0.2683, Dogecoin (DOGE) expanded by 5.4 per cent to $0.0958, Litecoin (LTC) rose by 5.2 per cent to $53.50, and Binance Coin (BNB) jumped by 2.3 per cent to $637.79, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
By Adedapo Adesanya
Oil prices settled higher on Friday as traders worried that this week’s talks between the US and Iran had failed to reduce the risk of a military conflict between the two countries.
Brent crude futures traded at $68.05 a barrel after going up by 50 cents or 0.74 per cent, and the US West Texas Intermediate (WTI) crude futures finished at $63.55 a barrel due to the addition of 26 cents or 0.41 per cent.
Iran and the US held negotiations in Muscat, the capital of Oman, on Friday to overcome sharp differences over Iran’s nuclear programme.
It was reported that the talks had ended with Iran’s foreign minister saying negotiators will return to their capitals for consultations and the talks will continue.
Regardless, the meeting kept investors anxious about geopolitical risk, as Iran wanted to stick to nuclear issues while the US wanted to discuss Iran’s ballistic missiles and support for armed groups in the region.
Any escalation of tension between the two nations could disrupt oil flows, since about a fifth of the world’s total consumption passes through the Strait of Hormuz between Oman and Iran.
Saudi Arabia, the United Arab Emirates, Kuwait and Iraq export most of their crude via the strait, as does Iran, which is a member of the Organisation of the Petroleum Exporting Countries (OPEC).
According to Reuters, Iran objected to the presence of any US Central Command (CENTCOM) or other regional military officials, saying that would jeopardise the process.
The current confrontation was sparked by more than two weeks of unrest in Iran that saw authorities launch a deadly crackdown that killed thousands of civilians and shocked the world. As reports of the deaths trickled out of Iran, US President Donald Trump threatened to strike Iran if any of the tens of thousands of protesters arrested were executed.
Meanwhile, Kazakhstan’s planned oil exports could fall by as much as 35 per cent this month via its main route through Russia, as the country’s top oil company, Tengiz oilfield, slowly recovers from fires at power facilities in January.
ING analysts have pointed out Iran’s neighbour, Iraq, and a disagreement with the US as another bullish factor for oil prices. It seems Iraqi politicians favour Mr Nouri al-Maliki as the country’s next Prime Minister, but the US thinks Mr al-Maliki is too close to Iran. President Trump has already threatened the oil producer with consequences if he emerges as PM.
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