This information would reveal to you, how you can start the bureau-de-change business without having any start-up capital and without having to go through the rigorous exercise of opening a foreign currency bank account in Nigeria. I understand how stressful that can be for some people.
What is the Currency Arbitrage Trading Business?
The currency arbitrage trading business which is otherwise known as Bureau de change involves the exploitation of the differences in quotes rather than movements in the exchange rates of the currencies in the currency pair. Forex traders typically practice two-currency arbitrage, in which the differences between the spreads of two currencies are exploited.
But currency arbitrage is a forex strategy in which a currency trader takes advantage of different spreads offered by brokers for a particular currency pair by making trades. Different spreads for a currency pair imply disparities between the bid and ask prices. Currency arbitrage involves buying and selling currency pairs from different brokers to take advantage of the mispriced rates.
The purpose of this guide is to show you how to make money from the currency arbitrage system/ bureau de change business even if you don’t have a foreign bank account in Nigeria or a start-up capital to get started.
But you need two things
- Payoneer.com account – You can click here to open one. It’s free!
- Grey.co – You can click here to open a grey.co account which is a foreign bank account for Africans. It’s also free!
Please watch the video below to see the step-by-step guide on how to get started with the Bureau De Change business.
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If you NEED a detailed guide on other ways to make money online legitimately in Nigeria, CLICK HERE