Trading global markets with Naira eliminates foreign exchange pressure –Oduneye – Vanguard

By Peter Egwuatu

IN its quest to provide Nigerians with investment options to enhance their incomes, Eagle Global Markets, EGM has come up with Naira used global trading platform that put off pressure on Foreign Exchange, FX and gives more value to the local currency. The Chief Executive Officer of Eagle Global Markets, Mr. Gbite Oduneye, in an interactive session with select capital market reporters, weekend in Lagos stated that EGM offers the highest levels of transparency, ease of transacting and most importantly constant innovation that will lead to clients’ development. According to him “The company has succeeded in eradicating the bureaucracy in trading global markets in the sense that it doesn’t have to put pressure on the foreign exchange  because all global market trades through its platform are done in Naira.

It gives more value to the Naira because more people will have to look for it to trade global markets.” Oduneye said that “the company is here to stay and holds the interest of Nigerian traders at heart. Within just three months in Nigeria, EGM has over 600 active trading clients that qualified to trade on their platforms. “About 50 percent of trading applications were declined because we are ensuring we do the right things –including Know Your Customer, KYC and other regulatory checks because in the long run, it will pay-off.

The reason for all necessary check on trading applications is for us to ensure best practice. This is what most of our competitors haven’t done,” Oduneye noted. Commenting further, he said  “Among others, the EGM advantages include:  two platforms (one web based with no need for downloads); customizable ECN based accounts; Naira platform that eliminates need for currency conversion in deposits and withdrawals; competitive spreads; analysis support (trade of the day); platform support (Webinars every Friday); trading support (Saturday and weekly classes); convenient and fast deposit and withdrawal process; IOS and Android apps for mobile trading; dedicated account managers; industry leading Education modules; easy access to promotions and market analysis via social media; experienced staff; and PAN African brand with focus on developing African traders.

Eagle Global Markets provides a trading platform that brings to the table fast order execution with a depth of analytical tools, to access over 3000 assets, in categories that include Equities, Commodities, Forex and Spot Metals. Oduneye also assured potential clients that global industry standards would be applied in the client on boarding process. He added that the advent of Eagle Global Markets sets a milestone, as it stands as the first PAN African brand to offer such an opportunity to Nigerian clients who previously, had to face the hassles of operating a U.S. Dollar denominated account, in other to access even less attractive markets.

Speaking, Head of Market Analysis and Education at Eagle Global Markets, Mr. Kola Adebayo, said, “We have developed a curriculum that is meant to aid clients in growing organically, to become sound in market analysis and streamlined to help them achieve their corporate or individual financial goals”. On client education,  he said  that Eagle Global Markets leads with: in-depth market knowledge; over six years of training experience; tailored programmes; weekly client mentorship; beginner level and introductory programmes; sound modules on technical and fundamental analysis; daily trading support – trade of the day; offline and online training programmes; individual and corporate sessions; industry leading risk management programme; support on asset selection; and support on market to market transition.