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 Modupe Gbadeyanka
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
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