We have ensured that every single Binary Options Broker we list and review throughout this website has a solid and dependable track record in giving all of their clients a first class trading experience, and can be relied on to pay all winning traders rapidly no matter where in Nigeria they live. If you not from Nigeria and looking to trade Binary Option have a look at top10binary. net to learn about binary options trading and brokers.

Be aware that each of our showcased and rated Binary Options trading sites are fully licensed and regulated, but you will need to be over the age of 18 to access our website and also you will need to be over the age of 18 to utilize and of the many different trading platforms on offer at each of our listed Binary Options Brokers. IQ Options is an all-inclusive trading platform that has in recent years dominated the market, especially in Europe. This platform at its inception started by offering Binary options Services.

However, it has now upgraded to include other types of trading including Cryptocurrencies trading, stock CFD, Digital options and ETFs. However, to withdraw your earnings you need to open a real account and fund it. The problem you might witness when using Iq options is that the web browser-based trading room might take a long time to load especially if your internet connection is slow. However, it is very efficient once it has loaded. to bypass this loading problem, it is best you download the desktop app.

This options broker is certified by IFMRRC International Financial Market Relations Regulation Centre and is authorized and regulated by Vanuatu Financial Service. The User Interface is simple and straight to the point. Let me rephrase; Expertoption User interface is among the best I have seen; it is as good if not better than iq options user interface.

But unlike iq options, expert options browser-based trading room loads fast. You can open 2 trades at once and navigate through them seamlessly without losing sight of any of them. The downside to expert option is that it does not have a wide range of trading time. Its trading times are 1 minute, 2 minutes, 3 minutes, 4 minutes and 5 minutes.

This is unlike most digital options brokers that have a trading time from as little as 5 seconds to as high as 24hours. So I suggest you create a WebMoney account. You can fund and withdraw from your WebMoney account via instantgoldng. Olymp is owned and managed by Saledo Global LCC. It is located in St Vincent and Grenadines, a Caribbean Island in North America.

The company was established in and has ever since risen to become one of the fastest-growing trading platforms in the world. Trading here is seamless and lucrative, Olymp Trade does not only offer you a chance to earn but will also teach how to. This is made possible by a team of world-class analysts.

Its users are constantly growing every day with over , traders and up to 35,, trades closed every month. I found it very impressive that the broker is registered under the International Financial Commission FinaCom.

FinaCom guarantees monetary compensation of up to 20, Euros to any trader who has been unfairly treated by Olymp. The fund in the demo account cannot be withdrawn. Once you are contented with the outcome, you can then fund your account with real money to proceed. All the platform listed above are top notch; they have a solid interface, very responsive and friendly customer support and easy deposit and withdrawal methods. Age :- Deriv is over 20 years which is more than 2 times the ages of other options platform in this list meaning it has stood the test of time when compared with the rest.

Country: Pocket Options is the only Binary option on the list that accepts USA and Canadian residents. Safety: All the exchange in the list have proven to be safe, secure and reputable however Spectre took it up a notch as the only option platform that lets you handle your fund. Trading Forms: Prime XBT, Deriv and Iq Options has gone beyond Binary options to include other trading forms such as CFD, MT5 etc.

So like I said, it all depends on you. You can create an account with all of them, try them out to know the one that suit you best. I will start with Pocket Option though. the Initial deposit is more but it seems more solid. Which of the Companies do you think should be added or removed from this list of top 7 binary options platform in Nigeria?

PS: If you want to learn how to trade cryptocurrencies profitably, then I suggest you enrol for our cryptocurrency mastery academy. Almost any asset that is tradeable in the financial markets and as a global price can be traded with binary options. When trading binary options in Nigeria, you are not really interested in the underlying assets nor are you purchasing them to own; you are only interested in the directions their prices will most likely move after a fixed period of time. If after careful analysis, you believe that the price will go up after say five minutes, you enter a BUY or CALL trade; on the other hand, if your analysis tells you your price will go downwards, then you go for a SELL or PUT trade; all these are done online using any internet-enabled device.

Trading the financial markets is increasingly becoming one of the most popular ways to make money on the internet in Nigeria. However, you can trade the markets through different methods, one of which is binary options trading. Binary trading in Nigeria is a method of trading that involves speculating on the future movements of the prices of financial assets. In practice, with binary trading, you can place bets on what you believe will be the direction or movement of a financial asset after a specific period of time.

Instruments that you can speculate on their movements include liquid assets such as stocks, cryptocurrencies, commodities and currencies. Others include bonds, ETFs, indices, amongst others. If your prediction or bet turns out right, you get paid a fixed percentage of the amount you put up. Otherwise, you lose that same amount. In the same vein, however, binary options in Nigeria is highly risky, and you can lose substantial sums of your capital.

To avoid this, you have to approach trading binary options as a skill and to master every skill, you need to be taught and be able to dedicate considerable amounts of time and effort to learning and practice.

It is recommended that every binary trading decision be based on careful analysis — such analysis should take into account the news and happenings that are moving the prices of underlying assets as they can be a pointer to the future directions of the market.

In trading lingo, this is known as fundamental analysis. Your analysis should also involve checking the charts and indicators for tradable patterns; this is called technical analysis. Nevertheless, to be able to trade binary options, you need to be signed up with a binary options broker. Binary options are financial instruments that allow a trader to speculate on the direction of prices of assets in the financial markets. Here, you will decide whether you expect the market to go up or move down, and then you place a bet corresponding with that decision.

If however, your prediction turns out incorrect, you lose a specified portion of your capital. There are significant risks attached with binary options trading in Nigeria, and a good number of binary options traders do lose some or all of their trading capital. To however becoming a consistently profitable binary options trader in Nigeria is quite simple, although not easy.

You have to adhere to some rules including quality risk management, developing and sticking to a trading strategy as well as getting quality trading education before venturing to trade the markets.

There are several benefits to trading binary options , some of which are outlined below. Nigerian binary options online can be traded using minimal amounts of money.

This means that you can risk as much or as little as you can afford to. Furthermore, you are empowered to properly develop a binary options risk management system. The way binary options works is that you are well aware of how much you stand to gain as well as the amount you may lose when entering a binary options trade. Such risk management capability can really not be found with other forms of trading the financial markets. The ability for the Nigerian binary options traders to trade small amounts at a time makes it a greatly affordable way to trade online.

Expiry periods for binary options trades are much shorter compared to other channels to trading the financial markets. Even where they are fixed, they are usually long.

It is commonplace to see expiry periods of as high as 2 months. Binary trading Nigeria gives you the ability to trade several financial markets cut across different geographies. This helps you beat the limitations of timezones, as you can trade one market when the other is closed. With this, you can easily tailor binary options trading to your lifestyle.

Nigerian binary options brokers have taken the initiative to make the process of trading binary options as simple as possible. All you really have to do is upon conducting your research, select the market you want to trade, the amount you wish to risk for the trade and the direction in which you think the price of the asset will move.

You then go on to choose the binary options expiry time and wait. With this simple binary options process, you can be on your way to making substantial profits if your trade turns out correct. Before you think of signing up or undergoing any binary options registration process with any broker, you must be assured of the credibility of the broker and the quality of its brokerage platform.

The binary options platform you choose to register with must possess some cogent features; otherwise, you should not go for it. This is because there are as many Nigerian binary options platforms out there as there are brokers.

However, not all of them are worth getting registered with. If you go for the wrong binary options platform in Nigeria, you might be setting yourself up for real binary options losses. Before you start binary options trading, you have to get signed up with a broker in Nigeria. After this, you will be assigned a binary options trading account, with your personal account details. It is on this account that you get into which you will deposit and start to make trades.

The steps you have to take to sign up vary considerably across brokers. With some binary options brokers in Nigeria, you can download their mobile applications from your app store and get to sign up from there. For some other Nigerian binary option brokers, you have to sign up elsewhere, and then login on the app. Nevertheless, there are some pretty common methods across many binary options brokers, and they are outlined below. Either through the broker website or via their mobile apps, you can access a registration form with which you can get to sign up.

In Nigeria, the registration process is quite a simple one, and will only require your email, address and a password. After entering this, you click the green button with the inscription — Create Account. Although you can carry on with most services on the trading platform, to be able to do complex things like make deposits, you have to verify your email by clicking the link in the mail sent to your inbox.

Other information that should be requested such as your full names, location, phone number, amongst others, are provided after sign up. For some other binary options brokers, the registration form is much longer, requesting that you enter all the above information upfront. If your email is signed up into your device, there is also usually that option. Upon signing up, you will have to access your account some other time, thus needing you to login.

The methods of logging into your binary options trading account differ from broker to broker, but there are some common methods that are in use. This follows the same Registration Form method you find above. It typically only requests you to enter the email and password you had used to sign up.

Home » Guide » Binary Options trading legal in Nigeria. Even if trading in binary options is legal in many countries, it is still subjected to many online scams. As a result, the Governments of many countries have issued a set of guidelines to protect their traders and brokers from such scams. In this article, we will specifically discuss: Are binary options trading legal in Nigeria or not?

We will discuss all the rules and regulations that the citizens need to follow for a safe investment and ethical investing. Binary options are not that easy to trade with. Thus the government advises its citizens to trade only if they are sure about all the necessities from the broker.

In addition, the regulations highlight the steps the traders and brokers should follow before they start trading. To start experimenting and learning the basics of trading, you can sign-up on Quotex and start trading without losing any money.

Binary options are short-term trading contracts with limited risks. If you are a new trader, then start experimenting with binary options for a safer side. One can make good profits by monitoring the short movements of the commodity, index, or asset. In the case of binary sections, you need to make your call soon ; in some cases, it might be less than a minute. Most of the trading considering the binary options is happening online through digital platforms. If you want to start trading, you need to add a little amount to your account and an extra amount to buy the asset, index, etc.

The minimum amount will change according to the platform you are dealing with. Once you place a trade, you cannot withdraw, and your money is locked depending on the contract period. You need to confirm the initial sum you deposited and a record of profit or loss during the trading; it is necessary to map down an effective strategy during trading.

Yes, binary options are completely legal in Nigeria , but the Government has certain regulations that the trader and broker must follow before and while trading. Here is a detailed description of the updated regulations and legalities issued to their traders and brokers by the Government of Nigeria. Do not miss the terms and conditions of the binary options before you start trading in Nigeria. It will ensure your safety while trading in the market. The broker that you are dealing with must be straightforward and transparent.

Whenever a trader logs in on a digital trading platform, a lengthy document that you need to read before you click I accept appears on the screen. You cannot afford to skip the reading process , as it might be harmful to your stand if something terrible happens while trading.

It might also lead you to some future obligations that you might not want. The broker also mentions the conditions where rights protect them. If the trader does not understand any parts of the terms and conditions, they should always contact customer support instead of skipping the reading part and accepting it all.

For a transparent and straightforward trading experience, the brokers are encouraged to go through education centers for Nigerian traders to gain all the possible knowledge. Moreover, it helps the Nigerian traders to clarify their doubts from someone qualified. The Nigerian traders can use the FAQ section of the broker or online broker platform or use customer su pport to get their knowledge on point.

In addition, the trader can reach out to the broker through an email, phone call, or live chat. This information is usually available on the platform itself. There are various education centers for Nigerian traders that provide excellent knowledge about binary options. In addition, they can get access to various materials online for making better trading decisions.

They will learn about various terminologies and topics before they start trading; it is suggested to minimize the risk of losing money. Each trader is supposed to go through the process of KYC or Know Your Customer policy. It is necessary for safe trading and to avoid any type of hacking or scams.

The brokers need to put out a set of requirements from their customers to know who their customers are. Many traders hate providing the KYC , but the broker needs to ensure that all the safety criteria for trading are met.

It minimizes the possibility of somebody else taking away your profits or trading through your money. Here is the list of minimum requirements for a KYC :. If the trader cannot provide the broker with the above documents, they are not eligible for trading in binary options on any online trading platform.

If you are a Nigerian citizen, investing through offshore, online business is not very complex but risky. Here is the link to decoding an imposter website. This is a major regulation that the citizens of Nigeria need to follow. Choosing the online broker carefully after checking all the necessary details will help you in retaining your money. Choosing the right broker might be a tough job. It is because traders adapting Binary options trading in Nigeria are pretty much impatient to run a thorough, in-depth analysis on the broker platforms.

Therefore, to help you save the effort and to help you prevent mistakes of choosing the right broker, here are the three top broker firms offering Binary options trading in Nigeria:. The top name within the list of binary brokers is Quotex. It is a platform that started in and has taken the world by storm. io is offering binary options trading to most of the countries across the globe, and Nigeria is one of them.

In fact, Quotex. io is operating under the regulation of IFMRRC and has optimal features within the platform for Nigerian traders. The drop in payout percentages is because of the liquidity aspect of the asset and the deviating asset performance. You get to check the payout percentage of an asset before you trade with it. You can only use this bonus code by signing up via our website. You can trade with over assets within this platform, depending upon your choice and strategies.

IQ Option is yet another trustworthy broker for Binary options trading in Nigeria. The trading platform is intuitive and has proactive features to help Nigerian traders leverage the maximum potential of binary options trading.

IQ Options also consists of trading tools , which are embedded within the platform. It is to help the traders make accurate predictions. This broker platform is great for not just professionals but also beginners. And it is under the regulations of CySEC. The entire portfolio of the financial instruments available within the platform is good and gives the Nigerian traders a plethora of options to trade.

Pocket Option is one of the best trading platforms in Nigeria. But there are special features and conditions , especially for the individuals seeking Binary options trading Nigeria. The higher the deposit amount, the greater the bonus will be. Furthermore, there are over 50 modes of payment available over the platform of Pocket Option. The transaction speed is faster, and this broker charges no platform fees.

The maximum payout percentage of particular assets fluctuates depending upon the liquidity and market performance of the asset. Therefore, people need to prefer offshore brokers for this purpose. This trading form gained popularity in the country in but was eventually taken down by the FBI and other higher authorities for diverse disruptions. In fact, this trading form gained exposure once again in the year And this time, Binary options trading in Nigeria was implemented with some strict regulations for the brokers across diverse jurisdictions.

The payment companies such as PayPal and PaySafe need to add Nigeria within their service range. With it, the payment options that were unavailable to the Nigerian traders were retained, and they took this opportunity to participate in binary options trading aspects.

As of now, no such laws are imposed upon Binary options trading in Nigeria. Moreover, there are no country regulations that are mandatorily being imposed upon the traders. The Nigerian traders are free to decide whether they want to trade binary options or not. But, the country authorities will not take any responsibility for the capital losses that the individuals experience within this trading format or by the broker. The Nigerian traders of binary options have accessibility with almost all offshore brokers that are operating under several jurisdictions and international regulations.

But, they are not permitted to trade with brokers of Japan, Australia, and the US, due to unavoidable country-wise policies. One can easily start trading in Nigeria, but there are no licensed brokers in the country. Thus the traders need to look out for offshore brokers to invest their money.

The Government of Nigeria does not play any role in protecting its citizens from scams. Yes, it is possible to use expert options in Nigeria, as Nigeria authorizes that platform.

The expert option provides you with possibly accurate and real-time market data for safer trading in binary options. These platforms are created by leading analytical agencies. If you live in Nigeria and think of trading in binary options, you need to consider that the Government will not protect you in case of fraud. Be very careful with what platform you are using since the government does not provide any license to the brokers.

If you are new to trading, you need first to experiment and learn the market. Then, you can start experimenting with your pattern mapping skills on Quotex by signing up and practicing investing without losing any money. Trading is a complex domain , and it takes years and years of practice to understand the market.

Still, the trading market is highly subjective and is subjected to various risks , but you can certainly minimize them by taking calculated risks and finding a balance. Show all posts. Write a comment abort. Save my name, email, and website in this browser for the next time I comment.

However, to withdraw your earnings you need to open a real account and fund it. Privacy Preference Essential 1. However, one drawback is that it only provides trading in binary options. If you live in Nigeria and think of trading in binary options, you need to consider that the Government will not protect you in case of fraud. They are not regulated.

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