Unemployment, business closures, high inflation… it is hard to overstate the global economic impact of the COVID-19 pandemic. Not only did the virus take a deadly toll on nations but it has devastated the global economy for years to come.
Despite moving ever closer to a pandemic-free world, many nations, such as Nigeria are still dealing with one particular scourge of the virus – rampant unemployment.
Fortunately, for many, the uncertainty of traditional jobs has paved the way for a new source of income – online trading. Today, CMTrading highlights just how easy it is to earn an income and join the online trading revolution.
Become a better trader – join our seminars
Jobless in Nigeria
Unemployment in Nigeria has rose constantly in the past years. In 2022, the unemployment rate in Nigeria is estimated to reach 33%.
The security of having a traditional 9-to-5 job is no more and this has left millions without an income.
Without steady income from previously stable office jobs, many have turned to freelancing and seeking alternate sources of income.
This has given rise to online trading.
Nigeria leads the way in African traders
Africa has witnessed a growth of more than 50% in the number of retail online traders since 2020. In fact, there are currently more than 300 000 retail forex traders in Nigeria alone. There has also been a substantial rise in African female traders, with 46% more women registering accounts in the past year.
Among African nations, online trading has grown the most in Nigeria. This is due to cheap mobile data and online trading resources offered by online brokers such as CMTrading.
Locally, tradable companies are growing too; there are more than 328 listed Stocks on the Nigerian Stock Exchange (NGX).
Online trading is attracting thousands of newcomers to the financial markets every year. Through online courses, brokerages, and accessible mobile platforms, it has never been easier to get involved in the financial markets.
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Easier than ever to become a trader
Still unconvinced about becoming a trader? Consider this staggering trading statistic; according to “The Modern Trader” report there are approximately 13.9 million online traders worldwide.
It’s never been easier to become a trader today. All you need is internet access, a mobile device and a trading account. To become a successful trader, however, you’ll need education and the support of a reputable brokerage.
CMTrading has been operating since 2012 and has recently won three incredible awards:
2022 Best Broker Nigeria – Global Business Review Magazine
2022 Fastest Growing Broker Nigeria – Global Business Review Magazine
2022 Best Financial Broker Nigeria – Global Business Magazine
‘Having a single stream of income is risky’
Tope Ijibadejo, CMTrading Nigeria Region Manager, said: “Having a single stream of income is extremely risky. A typical nine-to-five job is a single stream of income, so it’s not as safe as it used to be. It’s advisable to have additional streams such as online trading which can provide active and passive income.
“My advice for anyone who wants to be a trader is to make sure you obtain the necessary skills and knowledge. You must ensure you are trading with a regulated broker such as CMTrading. Even if you have the knowledge, even if you have technology that helps you make money, if your broker is not regulated or untrustworthy you will have issues withdrawing your money.
“It’s very important that while you pursue knowledge, while you pursue the right technologies, that you engage with the right broker. CMTrading is a broker that is regulated and licensed. Not only that, CMTrading has been in the business for 10 years and is an award-winning broker!”
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