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. Learn every technicality of Binary Options trading. All you need to know about high-frequency trading. Binary Options trading psychology explained. is Binary Options trading luck or skill? How do Billionaires spend their cash? We need your consent before you can continue on our website. The step is finding the right broker to trade with.

While there are hundreds of brokerage firms out there on the internet, not all of them were created equal. This is where we come in, by providing our readers with the guidance and recommendations on picking the right firm to trade with. Our top picks for recommended brokers in Nigeria are reviewed for their strengths such as:. Most of the binary options brokers that are servicing traders in Nigeria are offshore.

Although there is a wide array of choices when it comes to which broker to sign up with, we highly recommend our readers to stick to reputable and regulated companies to avoid being scammed. To assist our readers in Nigeria with their selection, we have come up with a list of reputable companies which cater specifically to the needs of these investors. In Nigeria, the main regulatory body that is in charge of regulating the financial services industry is the Nigerian Securities and Exchange Commission SEC.

Formed in , it is mandated to supervise the Nigerian Stock Exchange to ensure orderly and transparent dealings of securities traded. However with regards to online trading activities, the SEC do not regulate both forex and binary options trading. This is largely due to the fact that there is a lack of a regulatory framework to govern online trading even though the concept of online trading has existed in Nigeria since when online forex trading was first introduced.

Nevertheless even with the lack of regulatory oversight in the online trading industry, Nigerians took to online trading like ducks to water when they discovered the lucrative returns which they could potentially earn from trading forex online.

Due to the over eagerness and lack of trading experience, the end result was many Nigerian forex traders got their fingers burnt. With mounting losses and a loss of confidence in the industry, many Nigerians began to shy away from online forex trading.

In addition, the trader gets the chance to nearly double his money within a span of a few minutes. Although there are currently no regulations governing binary trading activities in Nigeria, there have been recent calls to the SEC to come up with a regulatory framework to regulate the online trading industry.

As to whether new regulations will be imposed by the SEC that remains to be seen. As for now, Nigerians are free to trade in binaries without any legal impediments from the SEC. With online forex trading established since , Nigerians binary options traders will have no problems in trying to fund their trading accounts with the same methods which forex traders use.

As such, traders in Nigeria can use bank wire transfer, credit cards and popular eWallets to fund their trading accounts. Even if the trading account is with an offshore brokerage firm, there are no significant fees involved in the transfer of funds.

Financial markets are platforms where interested participants get to buy and sell financial assets such as stocks, bonds, foreign exchange, and commodities for profit purposes. As such, to participate in this market, you essentially have to buy and sell these assets. But this can be prohibitive to retail investors.

For one the entry requirement across board is usually high. As such, participation largely belongs large financial institutions and multinational corporations. The individuals who get to participate are high net-worth personalities. However, with more advances in technology, there are now many options as to how to go about profiting from the financial markets; these methods break these barriers enabling everyone — especially retail investors — equal access to the markets.

Binary options is a form of derivative trading that allows you to speculate on the future movements of the prices of financial assets.

When trading binary options, you are speculating on what you believe will be the direction or movement of a financial asset after a pre-set period of time has elapsed. We should note that binary options is not a separate financial market instrument or asset in itself; it is actually a way to get to trade the markets investors — equal access to the markets. As such, with binary options brokers, you can bet on the price movements of assets including stocks, cryptocurrencies, commodities, currencies, bonds, ETFs, indices, amongst others.

For instance, it means you can bet on the price movements of Amazon, Apple, Facebook, Alphabet Google , Netflix, Alibaba and more. You can trade binary options on Bitcoin, Ethereum, Litecoin and other crypto coins made available by your trading platform.

Similarly, you can speculate on movements made by crude oil, gold, silver, amongst other commodities. 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. Alternatively, if you had made use of social media accounts when signing up to the platform, you can as well make use of that option.

Nigerian binary options represent a very profitable way for you to profit from the movements in global financial assets and instruments. In fact, it is one of the most profitable. At the same time, it is very difficult. There have been quite a number of persons who have achieved that feat all over the world, and also in Nigeria. But it takes long periods of efforts, commitment and diligence. We can go on to list binary options millionaire success stories in Nigeria. However, we believe that their stories are not as important as the principles and mindsets that created such binary options success stories.

Listed below are some of those beliefs, mindsets and principles that most binary options millionaires both in Nigeria and across the globe imbibed:. We have to state it; there are a number of persons who have had streaks of profits from the market, even if they were not knowledgeable enough.

You can witness profits for a considerable amount of time after which everything goes bust. To stay profitable in the market for a very long time, and to put yourself on the path to becoming a binary options millionaire in Nigeria, you have to subject yourself to proper trading education. Binary Options trading is no talent; it is a transferable skill; and to get better at a binary options trading skill, you have to dedicate quality time, attention and practice.

Of course, you can make serious money from binary options in Nigeria, in fact running into millions from binary options trading. Having high expectations from binary options trading will lead you to overtrade, thereby exposing you to major risks.

Successful Nigerian binary options traders go into binary trading with realistic and reasonably achievable goals, and once they clinch them, they leave the market. A binary trading journal serves as a binary options trader is a record of your day-to-day activities that relate to trading; you can refer to it as your trading diary.

Your trading journal contains your trading plan and system, and tracks how well you follow that plan on a daily basis. It also documents your growth and progress over time in your trading. Whenever you incur losses, you record the factors that led to them, helping you to avoid the same in future. On the other hand, if you record profits, you can easily pen down the strategies that helped you incur such, enabling you to repeat the profits consistently.

Although already discussed above, the importance of having a trading plan with binary options brokers cannot be over-emphasized.

They are not regulated. com Cookie Name vuid Cookie Expiry 2 Years Accept YouTube Name YouTube Provider Google Ireland Limited, Gordon House, Barrow Street, Dublin 4, Ireland Purpose Used to unblock YouTube content. 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. However, we advise our readers to go through the rules and regulations of the broker before giving in to the luring amount. In some countries, it is not allowed to use or is only available for professional traders.

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