PROPOSED NEW RULE FOR FOREX IN NIGERIA

@olayefortune

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Forex Trading Rules

Why it worked

The video addresses a highly relevant and impactful regulatory change within the Nigerian Forex community, providing clear, actionable information and breaking down complex rules into easily digestible points.

Summary

The Nigerian government, through the Securities and Exchange Commission, is proposing new, strict rules for the Forex trading space. These rules include requirements for influencers and marketers to be licensed, significant capital requirements for brokers (including those outside Nigeria), limitations on leverage, and a ban on binary options for retail traders.

Structure

1Introduction of new Forex rules in Nigeria
2Rule 1: No more unlicensed influencers/affiliates
3Rule 2: Transparency on risks and losses
4Rule 3: Leverage restrictions
5Rule 4: Capital and physical presence requirements for brokers
6Rule 5: Binary options restrictions

Product placement

Habby FX (ACTS - its interface is operated, it generates or edits something, a visible result comes from it, or someone says what it does for them - removing it would change what happens in the video), Jeffery Benson (ACTS - its interface is operated, it generates or edits something, a visible result comes from it, or someone says what it does for them - removing it would change what happens in the video), Nigerian Government (ACTS - its interface is operated, it generates or edits something, a visible result comes from it, or someone says what it does for them - removing it would change what happens in the video), Securities and Exchange Commission (ACTS - its interface is operated, it generates or edits something, a visible result comes from it, or someone says what it does for them - removing it would change what happens in the video), Octa FX (ACTS - its interface is operated, it generates or edits something, a visible result comes from it, or someone says what it does for them - removing it would change what happens in the video), Exness (ACTS - its interface is operated, it generates or edits something, a visible result comes from it, or someone says what it does for them - removing it would change what happens in the video)

Original caption

PROPOSED NEW RULE FOR FOREX IN NIGERIA. Please like, comment, follow and share. #jefferybenson #invest #money #forex #habbyfx

More from @olayefortune

On-screen text

PROPOSED NEW RULE FOR FOREX IN NIGERIA WHAT DOES HABBY FX @olayefortune AND JEFFREY BENSON HAVE YES THEY BOTH TRADE FOREX AND SOMETIMES EVEN PROMOTE SOME FOREX APPLICATION THE NIGERIAN GOVERNMENT IS TELLING THEM ONE THING TO CONTINUE YOU MUST GIVE US 30 MILLION NAIRA PROPOSED RULES ON ONLINE FOREX TRADING AND CONTRACT FOR DIFFERENCE PUBLISHED: SEPTEMBER 1, 2026 THE NIGERIAN GOVERNMENT THROUGH THE SECURITIES AND EXCHANGE COMMISSION IS PROPOSING SOME NEW RULES AROUND THE FOREX SPACE VERY VERY STRICT HERE ARE FIVE SIMPLE KNOW ABOUT THESE NEW RULES NO LONGER BE AN INFLUENCER OR AN AFFILIATE MARKETER FOR ANY BROKER IN THE FOREX SPACE NIGERIAN GOVERNMENT IS SAYING DOING THAT ANYMORE YOU NEED TO HAVE PROMOTING ANYTHING CONCERNING FOREX AND THEY ARE TELLING THEM ONE THING BEFORE YOU CAN SAY ANY APPLICATION ANYTHING AT ALL MOST OF ALL HAVE AN AGREEMENT WITH THAT COMPANY NUMBER ONE AND A MINIMUM PAID UP CAPITAL OF 30 MILLION NAIRA NUMBER TWO YOU SEE FLASHY HOUSES FLASHY CLOTHES THAT FOREX INFLUENCERS ALWAYS TRY TO PUT OUT TO MAKE SURE THAT OR GET YOURSELF INVOLVED IN ANYTHING CONCERNING FOREX NO TO THAT CALL HYPE MARKETING THAT YOU CAN NO LONGER ANY FOREX BROKER NO LONGER USE INFLUENCERS ARE NOT LICENSED THEY CAN NO LONGER BE USING FLASHY CARS IN FACT BEFORE YOU EVEN ADVERTISE ANYTHING CONCERNING FOREX TO PEOPLE YOU MUST TELL THEM THESE ARE THE POSSIBLE RISK SO AND THESE ARE ALL THE ACCOUNTS THAT PEOPLE HAVE LOST YOU MUST SHOW THEM THE PERCENTAGE OF RETAIL ACCOUNT LOSING MONEY BE A CAP OR MAXIMUM FOR LEVERAGE SO FOR MAJOR CURRENCY PAIRS THE LEVERAGE IS NOT RATIO 400 FOR MINOR IS ONE RATIO 200 WHILE FOR CRYPTO PAIRS IS GOING TO BE 100 NIGERIAN GOVERNMENT IS NOW TELLING BROKERS ESPECIALLY THOSE BROKERS THAT ARE OUTSIDE THE COUNTRY RIGHT SO SOME BROKERS LIKE OCTA FX THE EXNESS FOR EXAMPLE THEY DON'T EVEN HAVE BRANCHES IN NIGERIA SAYING THAT THEY MUST PAY A CAPITAL OF 3 3 BILLION NAIRA NOT 3 BILLION DOLLARS* A CAPITAL OF 3 BILLION NAIRA THEY MUST HAVE A PHYSICAL LOCATION IN NIGERIA AND ALSO THEY MUST HAVE A SEPARATE ACCOUNT WHERE THEY KEEP RETAILERS MONEY BUY DO IN TERMS OF TRADING OR FOREX NO. 5 BINARY OPTIONS ARE NOT COMPLETELY FOR RETAIL TRADERS CHECK 2 of 28 PROPOSED RULES FOR ONLINE 3 of 28 4 of 28 FOREX CONTRACTS RIGHT OUT AND JUSTRY TO UNDERSTAND WHAT IS HAPPENING ESPECIALLY IF YOU FOREX SECTOR OF NIGERIA I REALLY HOPE THIS TO UNDERSTAND AS ALWAYS DON'T FORGET TO LIKE COMMENT FOLLOW AND SHARE VIDEO GUYS THANK VERY MUCH

Transcript

What does Habby FX and Jeffery Benson have in common? Yes, they both trade Forex and sometimes even promote some Forex application. And the Nigerian government is telling them one thing: to continue, you must give us 30 million Naira. The Nigerian government through the Securities and Exchange Commission is proposing some new rules around the Nigerian Forex space. And these rules are very, very strict. Here are five simple things you need to know about these new rules. Number one, you can no longer be an influencer or an affiliate marketer for any broker in the Forex space. The Nigerian government is saying, you can't be doing that anymore. You need to have a license to start promoting anything concerning Forex. And they are telling them one thing: before you can say any application, anything at all, most of all, have an agreement with that company. Number one, a minimum paid up capital of 30 million Naira. Number two, you see those flashy cars, flashy houses, flashy clothes that Forex influencers always try to put out there to make sure that or get yourself involved in anything concerning Forex. No to that. What you call hype marketing that you can no longer use any Forex broker. No longer use influencers are not licensed. They can no longer be using flashy cars. In fact, before you even advertise anything concerning Forex to people, you must tell them, these are the possible risks. So, and these are all the accounts that people have lost. You must show them the percentage of a retail account losing money. Number three, be a cap or maximum for leverage. So for major currency pairs, the leverage is not ratio 400. For minor is one ratio 200. While for crypto pairs is going to be 100. Number four, the Nigerian government is now telling brokers, especially those brokers that are outside the country, right? So some brokers like Octa FX, the Exness, for example, they don't even have branches in Nigeria. The government is now saying that they must pay a capital of 3 billion Naira, not 3 billion dollars. A capital of 3 billion Naira. They must have a physical location in Nigeria. And also, they must have a separate account where they keep retailers' money when they want to buy, do in terms of trading or Forex. Number five, binary options are not completely for retail traders. Check out the full documents by searching for proposed rules for online Forex contracts. Right? Out and just try to understand what is happening. Especially if you are in the Forex sector of Nigeria. I really hope this is easy for you to understand. As always, don't forget to like, comment, follow and share. Video guys, thank you very much.