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Alpari has shown substantial interest in establishing a presence in Nigeria, with the opening of its office having been celebrate on June 11 at an event at the Sheraton Hotel in the nation’s financial center, Lagos, in the summer of this year.
Today, Alpari has announced that it will be conducting regular FX seminars at its office in Abuja, Nigeria’s capital city, releasing its timetable for the series of events which will take place daily, and include a series of subjects including introductory seminars, basic courses, advanced courses, and practical tips.
Africa has become a market which is rapidly emerging, having provided brokerages with an insight into the possibilities of entering the market and the unusual dynamics of African traders compared to those in regions with more established financial markets economies during the past few years.
In hosting seminars, Alpari realizes that group trading sessions and educational resources are very popular in Nigeria, and that personal relationships with brokerages are paramount.
Many introducing brokers from Nigeria, many of whom hold their own seminars, have garnered the trust of their clients and therefore brokerages have relied on this distribution channel as a means of gaining business from the region.
By hosting in-house seminars, Alpari can attract a captive audience of potential customers whilst eliminating the cost of remunerating introducing brokers in Nigeria.
Having a presence in the country resolves a further obstacle which is faced by many firms wishing to attract business from Nigeria, namely the difficulties in depositing funds to overseas brokerages due to the specific compliance criteria specified by most banks.
Alpari’s response to this was to offer clients the ability to deposit into Nigerian banks, which are First Bank, GT Bank, Diamond Bank and Access Bank.
For the full announcement, click here.