Business Stock Market: Meristem Launches Nigeria's First All-in-one Naira Trading Platform

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Nigeria - Meristem Securities Limited has announced the launch of MeriFX - a new all-in-one trading platform adjudged as ‘Nigeria’s first naira multi derivative assets platform.

One can trade Forex, Commodities, Indices and Equities all from one trading account in Naira, with this platform.

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“MeriFX offers you the chance to trade the world’s most popular financial markets at your fingertips," Mrs. Gbadunola Sokunbi, the Managing Director of Meristem Stockbrockers Ltd said.

“But the catch is that you are not really trading (buying or selling) anything that you can own, but merely engaging in something called ‘spread betting’. Unlike stocks whereby you own a piece of a company when you buy, when you spread bet, you are only speculating on the price movements of thousands of global financial markets including indices, shares, currencies, commodities and more”.

“You can use spread bets to speculate on price movements irrespective of whether the markets are rising or falling. If you go long (buy), your profits will rise in line with any increase in that price. If you go short (sell), your profits will rise in line with any fall. Similarly, if you go long on the price and the underlying stock price falls, you will incur losses.

“The minimum trade size on MeriFX is $200 or N40, 000”, she added.

Meristem Securities Limited had in 2014 inaugurated Meritrade, an online trading platform which serves as a virtual stockbroking platform, helping users to always trade stocks on the Nigerian Stock Exchange from anywhere in the world through their computers or mobile phones.
 
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