Economy
Traders Union Has Shared Useful Tips On How To Become A Full-Time Trader In 2023
Forex trading is an exciting and money-making venture, whether you do it as a hobby or a full-time job. In this article, Traders Union (TU) experts will talk about becoming a full-time trader and its advantages and disadvantages. They will also explain how much you can earn.
Main steps to become a full-time trader
So how to become a full-time trader? There are different options. TU’s analysts will explain each one:
- Forex prop company
Pros:
- Access to funding: you can get funding from the company to increase your capital.
- Zero risk: your risk is low because the company provides the money.
- Profit share: you get a part of the profits you make, which can boost your earnings.
- Growth potential: working with a prop company can help you grow your trading.
Cons:
- Limited control: you might have to follow the company’s rules and strategies.
- Profit sharing: you’ll share your profits with the company.
- Risk of scams: be careful to choose a trustworthy prop company.
- Investing your own money
Pros:
- Full control: you have complete control over your trading decisions and strategies.
- Unlimited earning: you can earn as much as you can without restrictions.
- Freedom: you can trade when and where you want for work-life balance.
Cons:
- Risk: trading with your money has high risk, and you might lose your investment.
- Capital needed: you usually need a lot of money to start.
- No guaranteed income: unlike a job, trading doesn’t guarantee a stable income.
- Finding a trading job
Pros:
- Steady income: you get a regular salary, reducing financial risks.
- Access to resources: companies provide research, analysis, and tools.
- Networking: you can connect with experienced traders and professionals.
Cons:
- Limited control: your trading decisions may be limited by company rules.
- Limited profit potential: trading for a company may limit your profit compared to trading with your money.
- High pressure: trading jobs can be stressful with performance pressure and short deadlines.
Should I trade full-time?
Deciding to become a full-time trader is a personal choice, depending on your situation. Experts at Traders Union will explain the pros and cons to help you decide:
Pros:
- Flexibility: full-time trading offers freedom in terms of where and when you work.
- Control: it gives you more control over your trading decisions and quick reactions to market changes.
- Higher profits: you have more time for analysis, which can lead to higher profits.
- Skill development: you can become an expert by dedicating time to learning and practicing.
- Focused approach: with no other commitments, you can focus on your trading strategies.
- Greater income potential: you can earn more by seizing more opportunities.
Cons:
- Risk: full-time trading relies on trading profits and comes with financial risk.
- Isolation: you might feel lonely working alone without colleagues.
- Stress: it can be stressful with constant market monitoring and high-pressure decisions.
- Lack of stability: full-time trading lacks regular income and benefits.
- Potential for burnout: the intense demands can lead to exhaustion.
What is the possible income of a full-time trader?
Calculating a full-time trader’s earnings can be tricky and depends on many factors. TU’s experts break down the typical pay and profit-sharing for traders:
- Salary for trading jobs
The average trader’s salary in the US is about $86,543 yearly.
Pay varies if you’re self-employed, working for individuals, or a company.
Trading company salaries depend on trading success, not fixed pay.
- Profit share in prop trading firms
Prop trading firms split profits between the trader and the company.
The ratio depends on how much capital each contributes.
The median salary is around $81,000 per year in the US.
Salaries range from $50,000 to $151,000 based on experience and performance.
Conclusion
Forex trading can be a rewarding endeavor, whether pursued as a hobby or a full-time career. Analysts at Traders Union have provided insights into the steps to becoming a full-time trader. They have also highlighted the advantages and disadvantages of each way to help you make an informed decision.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
In the competitive world of online trading, finding a trading brokerage partner that balances reliability, technological innovation, and accessible conditions is essential. Headway broker has emerged as a significant player, currently serving over 4 million users globally.
In this article, we take a detailed look at what makes this broker for trading a notable option for both novice and experienced traders.
Headway Regulatory Foundation and Safety
Safety is the cornerstone of any trading relationship. Headway broker operates under the regulation and licensing of the Financial Sector Conduct Authority (FSCA). This regulatory oversight ensures that the broker adheres to strictly defined standards for transparency and operational conduct, providing traders with an added layer of security and confidence when managing their portfolios.
Trading Platforms and Instruments
Efficiency in trading Forex and other markets is driven by the tools at your disposal. Headway provides a robust technological trading ecosystem:
Industry-Standard Platforms: The broker fully supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the most widely used platforms for technical analysis and automated trading.
Proprietary Mobile App: For traders who prioritize mobility, Headway offers its own custom-built trading app. It is readily available for download on both Google Play and the App Store, allowing for seamless account management and trading on the go.
Diverse Market Access: Traders have a wide range of opportunities with access to over 300 trading instruments, ensuring plenty of choice for different strategies and asset classes.
Trading Account Types Offered by Headway
Headway broker understands that every trader enters the market with a different level of experience:
Three Account Tiers: To ensure inclusivity, the broker offers three distinct types of accounts (Cent, Standard and Pro), tailored to suit different levels of expertise and capital requirements.
Demo Account: For those looking to refine their skills without financial risk, Headway provides a comprehensive demo trading account. This is the perfect environment to practice strategies, understand how the platform works, and gain confidence before transitioning to live trading.
Customer Support and Incentives
Headway supports its user base with comprehensive resources and financial incentives:
24/7 Technical Support: Market fluctuations happen at any time. Headway provides round-the-clock technical support for the traders, ensuring that help is always available whenever a question or issue arises.
150$ No Deposit Bonus: To help new traders get started, Headway offers a $150 no deposit bonus. This is an excellent way to test the broker’s execution speed and trading environment with zero initial risk.
IB Partnership Program: Beyond individual trading, Headway fosters growth through its Introducing Broker (IB) partnership program. This allows partners to build their business and earn commissions by referring new traders to the platform.
Conclusion
With its combination of FSCA regulation, a vast range of instruments, and modern platforms like MT4, MT5, and its own proprietary app, Headway FX broker provides a comprehensive environment for modern traders. Whether you are using the demo account to hone your skills or taking advantage of the 150 no deposit welcome bonus, this broker offers the stability and tools needed for your trading journey.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
