MeriFX Meristem System naira trading Forex platform

With the new platform, forex traders can now trade forex, commodities, indices and equities all from a single naira trading account.

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Gbadunola Sokunbi, MD, Meristem Stockbrockers Ltd play

Gbadunola Sokunbi, MD, Meristem Stockbrockers Ltd

(ngrguardiannews)
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Various media reports reveal that Meristem Securities Limited has launched a new trading platform tagged as ‘Nigeria’s first naira multi derivative assets platform’ – MeriFX.

With the new platform, forex traders can now trade forex, commodities, indices and equities all from a single naira trading account.

Mrs. Gbadunola Sokunbi, Managing Director, Meristem Stockbrokers Ltd, speaking at the launch of the product, noted that “MeriFX offers you the chance to trade the world’s most popular financial markets at your fingertips.”

“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”.

MeriFX logo play

MeriFX logo

(merifx)

 

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“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.

Back in 2014, Meristem Securities Limited inaugurated an online stock-trading platform aimed at encouraging market participation. According to the firm, The platform, known as Meritrade, is a virtual stockbroking platform which helps users to always trade stocks on the Nigerian Stock Exchange from anywhere in the world from their phones or computers.

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