Online stock brokers TD Ameritrade, E*Trade & Charles Schwab have officially cut their online broker commissions to zero. Charles Schwab was the first brokerage, Interactive Brokers followed suit in cutting their commission rates, then came along TD Ameritrade and E*Trade.
Many online brokers are cutting their commissions to nil (0 zero), because of the climate that brokerages such as Robin Hood has had on the industry, allowing free trades of equities to their clients.
Since then other brokers have also cut their commissions to incur more of fairer playing field for their investors, traders and account holders. Many have speculated this was bound to happen at some point. Well, it looks like it has finally arrived. -SB
The Nigerian Central Bank has placed currency traders in a tough position. As the Nigerian currency (Naira) slides, the Central Bank of Nigeria has indicated that currency traders will have to buy or sell their position in the Naira within the next couple of days, or be forced to sell it at the rate set forth by the Central Bank. CBN (Central Bank) has also restricted some currency trading in efforts to boost the Naira. Tough sanctions will be followed if noone adheres to the rules set by the CBN (Central Bank of Nigeria) as well.
Many currency traders, analysts, researchers and speculaters are seething to the tune of the declination fo the Naira, betting that the Naira will continue to derail against the US dollar. The Naira has been devalued to 168 to the dollar but it continues to slide none the less.
The Nigerian economy is set to grow 5.5% this year set from the revision of 6.4% previously. This revision was set by the Nigerian finance ministry led by finance minister and renowned global economist Ngozi Okonjo-Iweala.