Business
Forex Trading: SEC Warns Investors of Potential Danger
- Forex Trading: SEC Warns Investors of Potential Danger
The Securities and Exchange Commission (SEC) has warned Nigerians of the potential danger in retail online foreign exchange (forex) trading.
In a circular, SEC noted the increase in advertisements in electronic and other media asking investors to engage in leveraged online retail forex trading.
“The public is hereby advised that online retail forex trading is currently unregulated and consequently may be subject to abuse. Until a framework for regulation of online retail forex trading is developed by the SEC, any person participating or engaged in such investment activity does so at his or her own risk,” SEC stated.