About Lagos Bullion

Who runs this desk

Lagos Bullion is run by a small team of writers and researchers who follow gold (XAU/USD) trading conditions for people in Nigeria. We are not a broker, a bank, or a licensed investment adviser, and we do not hold or handle client money. Our focus is plain-language checks of what a Nigerian trader actually faces when opening, funding, and withdrawing from a gold trading account.

The desk works from Lagos, but we do not publish a street address or phone number because we are an editorial project, not a financial services firm. We test from the same mobile-first angle our readers use: checking a live price, sizing a 0.10-lot position, and deciding whether a withdrawal is worth the wait. That keeps our checks close to the real trading day.

How we make money

Affiliate links are our only source of revenue. If you open an account with a broker after clicking one of our links, the broker may pay us a commission. That commission never changes the rating, the order of a list, or the wording of a review. We do not accept payment for placement, and we do not sell advertising space on the desk.

Because we are not a broker, we do not earn from spreads, swaps, or any trading cost you pay. Our income is entirely separate from your trading outcome. That separation is deliberate: if a broker raises its withdrawal fee or tightens its support hours, we can write it plainly without losing a revenue stream.

What we do not do

We do not give personal trading advice, manage accounts, or recover funds. If a broker owes you money, we cannot chase them on your behalf. We also do not verify that a broker is registered with the SEC Nigeria, because that register changes and requires a live check by the trader.

Our job is to describe what a broker offers and what it costs in practice, using the broker's own documents and dated checks. We will never ask you for your trading password, your BVN, or a deposit into any account we control. Any message that does so is not from Lagos Bullion.

How Lagos Bullion makes trading calls

Lagos Bullion is run by a two-person desk in Ikeja, Lagos, and every call is checked by both of us before it goes live. We trade gold (XAU/USD) on our own accounts through FxPro, and a position only makes it onto the site if it fits the risk rules we use for our own money. The decision starts with a chart on MT4 or MT5, then moves to a written note that says the entry, the invalidation level, and the exact lot size for a 0.10-lot reference position. We do not run a signal service, so a call is never published just to fill space; if the setup is not clean, the page stays empty that day.

The final yes or no on any trade idea comes from a simple rule: does this setup survive a 30-pip adverse move without forcing a margin call on a ₦500,000 account at the leverage cap we are allowed to use in Nigeria? We work out the margin for the exact lot size, using the formula 0.10 lots × 100 oz × 4275.0 ÷ leverage, and we only publish if the stop distance leaves at least 60% of free margin after the stop is hit. That number is logged in our internal sheet, and if the maths does not clear, the trade is dropped no matter how good the chart looks.

Decisions are made in naira terms first, not in dollar terms, because that is how a Nigerian phone trader actually feels a loss. We convert the dollar risk on a 0.10-lot gold position to naira at the parallel market rate we see on our own banking apps, and we write that figure into the note. If a call risks more than ₦15,000 on a single setup, it does not get published. That cap is a desk rule, not a promise, and it keeps us from posting trades that look cheap in dollars but sting hard after a local bank transfer has been made.

The number rule every figure must pass

A number only appears on Lagos Bullion if it comes from one of three places: the live FxPro MT4/MT5 feed, a Central Bank of Nigeria or SEC Nigeria document, or a bank or card statement from our own funding. We never copy a spread, swap, or minimum deposit from another website, and we never guess a figure to make a paragraph look fuller. For gold, the reference price we use is 4275.0, but that is a snapshot, not a fixed quote; every article that mentions it says so in the same breath. If we have not seen a number on our own screen, we write what the cost depends on instead of inventing one.

The editorial test for any numerical claim is simple: can I show the source to a reader in under two minutes from my phone? If yes, the figure stays; if no, the sentence is rewritten without the number. That means we do not state a spread for XAU/USD, because spreads move with liquidity and our FxPro account shows different values at different hours. Instead, we say the cost of a gold trade consists of the spread, any commission, and the overnight swap, and each of those depends on the account type and the time the position is held. That is not evasive; it is accurate, and it protects a trader who would otherwise budget with a wrong number.

No number is grandfathered in. Once a month, we re-check the margin example we publish for gold: at the maximum leverage available in Nigeria through the offshore entity, a 0.10-lot position needs about $85.50 margin. If our own FxPro terminal shows a different margin because the price has moved, we update the figure and note the date. The same rule applies to the naira conversion: we re-price the dollar risk at the current parallel rate before any article goes live. A stale number is treated as a factual error, and it gets corrected the same day it is spotted.

How this site is paid for and what that changes

Lagos Bullion is funded entirely by the two of us from our own trading profits and a small monthly contribution from our savings. We do not run display ads, we do not sell sponsored posts, and we do not take payments from FxPro or any other broker to mention them. When we name FxPro as the platform we use, it is because our live accounts are there and we can verify the execution ourselves, not because a referral link pays us. That independence is the whole point of the site: a Nigerian reader gets the same trade note we write for our own phones, with no third party in the middle.

Because funding comes from our own pockets, the only thing that influences what we publish is whether a setup meets our risk rules. A losing week on our personal accounts does not create pressure to post more trades or to soften a warning; if anything, it makes us more careful with the next note. We have no advertiser to keep happy, no affiliate target to hit, and no reason to stretch a gold call into a longer article just to hold attention. The site stays small on purpose, and that keeps the incentives simple: we only publish what we would trade ourselves.

What the funding model does not influence is the regulator caveat we repeat on every broker mention. We say plainly that FxPro is licensed by the FCA (UK), CySEC and FSCA, but that a Nigerian reader should confirm any broker on the SEC Nigeria register of capital market operators before sending money. That sentence is not popular with anyone who wants a quick sign-up, and it earns us nothing. We keep it because the cost of a wrong broker is a lost bank transfer, and a local NGN transfer is not reversible the way a card chargeback sometimes is.

How to challenge a number or a claim on this site

If you think a figure on Lagos Bullion is wrong, the fastest way to get it fixed is to email us with the exact sentence and the number you believe is correct, plus a screenshot from your own FxPro terminal or a link to the SEC Nigeria document. We check every challenge against our own screens before we reply, and we do not dismiss a reader just because they trade a smaller account. A wrong margin figure is a factual error, and we correct it within 24 hours of confirming the mistake, with a note at the bottom of the article saying what changed and when.

Challenges about missing context are treated the same as challenges about numbers. If a reader says an article does not mention the leverage cap properly, we re-read the paragraph and decide whether the wording could mislead a phone trader who skims. For example, we will not write that a 0.10-lot gold position needs only $85.50 margin without also saying that the figure applies at the maximum leverage available via the offshore entity and that the ratio is a cap, not a target. If the context is missing, we add it.

We do not argue with readers about whether gold is a good trade or whether our risk rules are too strict. Those are opinions, and we state ours without pretending they are facts. But if a reader says our naira conversion is stale or our reference price of 4275.0 no longer matches the FxPro feed, that is checkable, and we check it. The correction policy is simple: if we are wrong on a verifiable point, we fix it publicly; if we are not wrong, we explain the source and leave the text as it is.

The exact leverage and margin figures we publish

The only leverage ratio we state on Lagos Bullion is the maximum available in Nigeria through the offshore entity, which is up to 1:200, and we always pair it with the caveat that one review cited 1:30 or 1:20 caps and that we have not verified that at review. We do not recommend using the maximum, and we do not write any other ratio anywhere on the site. The reason is simple: a cap is a limit, not a setting, and a phone trader who sees 1:200 in a headline might size a gold position as if the broker had promised that ratio on every trade.

For the worked margin example, we use the formula that matches our own FxPro account: position size in lots × 100 oz × price ÷ leverage. At the 1:200 cap, a 0.10-lot gold position at a reference price of 4275.0 needs about $85.50 margin. We write that figure only with the full formula next to it, because the margin changes with price and with the actual leverage applied to the account. We never state a margin for a different lot size without recalculating it on the spot, and we never round the figure to make it look cleaner.

If a reader asks what margin they need for a 0.50-lot position, we do not publish a number unless we have calculated it that day from the live price. Instead, we point to the formula and say the margin depends on the lot size, the current XAU/USD price, and the leverage ratio actually granted on the account, which can be lower than the cap. That is not a refusal to help; it is the only honest answer when the price moves every second and the leverage is set by the broker after a suitability check.

What a Lagos Bullion article will never promise you

Lagos Bullion will never promise that a gold trade will make money, and we will never write a sentence that suggests a setup is safe or low-risk. Gold is a leveraged instrument, and on a phone screen, a losing streak can wipe a small naira account faster than a desktop trader expects. Every article that mentions a specific entry also states the invalidation level and the maximum naira loss we are willing to take on that setup, and we write that loss in bold terms: this trade can lose the full stop distance, and the stop can gap.

We do not publish backtested results, win rates, or profit targets as if they were guarantees. A backtest on gold from 2020 to 2024 tells you what happened then, not what happens next week, and a win rate without the average loss is a marketing trick. When we show a worked example, it is always a single hypothetical trade with the exact margin and the exact stop, never a compounded curve. The site exists to help a Nigerian trader size and check a gold position from a phone, not to sell a dream of quitting a job after three trades.

The strongest promise we make is also the smallest: every number on this site is checked against our own FxPro screens or an official document, and if we cannot check it, we do not print it. We do not promise that FxPro is the best broker for you, only that it is the one we use and that you should verify it on the SEC Nigeria register. We do not promise that local NGN deposits are instant, only that we use the same methods and describe what we see. In a market full of hype, that restraint is the whole editorial standard.