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Eagle Global Markets’ naira platform records 5,000 accounts

Eagle Global Markets’ naira platform records 5,000 accounts

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Stanley Opara

Trading accounts on Eagle Global Markets’ naira platform have hit the 5,000 mark.

The leading Africa financial technology player described the development as the revolution Nigerians expected in trading global markets.

EGM, which added the Naira Cloudtrade Platform to its existing US Dollar MT4 platform, said it had succeeded in enabling traders access to over 1,000 global markets financial products using the naira.

As a pan-African brand, EGM said it provided opportunity for its clients to access global financial markets, adding that the naira platform of its multi-asset derivative structure, was the latest of its game changers that had compelled some competitors to follow suit.

 “We have two platforms: the Naira Cloudtrade and then the US Dollar MT4 which is the only one other players in the industry offer to their clients,” Co-founder, Eagle Global Markets, Gbite Oduneye,  said while addressing financial market journalists.

Ranging from international equities, commodities, indices and currency pairs, traders can, through EGM naira platform, access over 1,000 financial products across the world. This includes derivatives of companies such as Facebook, Google and Snapchat; as well as commodities such as crude oil, gold and silver.

Citing the significant drop in the history of the Dow Jones as well as a rise followed by a drop in oil prices, he said, “In times gone by, this will constitute engaging conversation but now, one could generate an income from taking advantage of these moves from the comfort of your mobile phone with naira. EGM makes the investing world a much more smaller place by breaking down barriers, making it possible for Nigerians to trade over 1,000 of financial products with the naira.

By providing opportunities for its clients to make money from trading over 1,000 of financial products with the naira, EGM said it had now become a preferred global local broker.

Oduneye said, “We have experienced account managers who guide our clients. We are one of the most innovative financial technology companies in Africa. We offer tight spreads, mobile apps: Android and Apple, and fast-trade execution. Our clients are at the heart of our business and we provide the best client management in the industry.

“In less than two years we have grown our clientele base considerably from a mere 500 to 5,000 and still counting. This is driven by our commitment to professionally advise and educate our clients. Education is at the heart of our business as we offer free seminars in our Ikoyi office as well as our EGM Academy in Ikeja. We are looking to open in Ibadan in the next quarter of this year.”

He added, “We enable clients diversify their portfolios by taking advantage of opportunities that exist in global markets. We enable Nigerians earn extra income and provide jobs for our introductory brokers. We offer the highest level of compliance with our Financial Conduct Authority- regulated technology partners. We hold all clients funds in segregated accounts.

“Our plan is to revolutionise the sector so that global market traders get value from what they are doing. Now, they have seen that it is possible to invest or trade any of the tradable 1,000 financial instruments across the world with our local currency.”

Also speaking at the event, the Director Operations at EGM, Temitayo Sanusi, said, “We are constantly working towards the highest level of compliance possible, ensuring proper due diligence is always carried out and Know-Your-Customers rule is adhered to.”

The Sales Manager, EGM said, Barbara Awodu-Aleshe, said, “We guide our clients through the market by providing the highest level of customer care and back office support.”

“Education is very important in trading global markets. The emotions, sensations or psychology of trading are very important and go a long way in determining success. In trading global markets, trading psychology and training are what most brokers do not impact on their clients,” she explained.

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