Generally, we can refer to them as standard con artists or fraudsters. They pose a serious threat to the entire binary options trading industry. Because, and we are sure you will agree, it is extremely offensive to know that you have consistently been defrauded.

We must regrettably acknowledge that there are more and more rogue brokers on the market daily, including scams like MyBoption, Metainvesting, Daily Trades, ScalaTrade, etc. The list might go on forever. The issue, though, is that certain long-standing market participants have begun to commit fraud against their loyal customers. Consequently, you should be extremely careful when selecting a broker to deal with.

However, we advise our readers to go through the rules and regulations of the broker before giving in to the luring amount. Read all of the terms and conditions carefully before investing huge capital. Trading with a broker in binary options in Nigeria is much safer than other high-risk trades. There are only two outcomes: winning or losing a specific amount of money.

Show all posts. Write a comment abort. Save my name, email, and website in this browser for the next time I comment. Are Binary Options Legal in Kenya or Not? Are Binary Options a scam or legit? Is Binary Options trading legal in Russia? Binary Options risk management explained. We need your consent before you can continue on our website.

com is not responsible for the content of external internet sites that link to this site or which are linked from it. This material is not intended for viewers from EEA countries European Union. Binary options are not promoted or sold to retail EEA traders.

Binary Options, CFDs, and Forex trading involves high-risk trading. In some countries, it is not allowed to use or is only available for professional traders. Please check with your regulator. Some brokers are not allowed to use in your country. They are not regulated. For more information read our entire risk warning. If you are not allowed to use it leave this website. We use cookies and other technologies on our website. Some of them are essential, while others help us to improve this website and your experience.

Personal data may be processed e. IP addresses , for example for personalized ads and content or ad and content measurement. I understand - visit this website at my own risk. Individual Cookie Preferences. Here you will find an overview of all cookies used. You can give your consent to whole categories or display further information and select certain cookies.

Accept all Save. Essential cookies enable basic functions and are necessary for the proper function of the website. Show Cookie Information Hide Cookie Information. Content from video platforms and social media platforms is blocked by default. If External Media cookies are accepted, access to those contents no longer requires manual consent.

Privacy Policy. A step-by-step guide to trade binary options in Nigeria This guide will refer to the top three brokers who allow traders from Nigeria to make a trade. What you will read in this Post. Accepts international clients Min. Sign up for free Risk warning: Trading is risky.

Sign up for free Risk warning: Your capital can be at risk. Sign up for your binary trading account in Nigeria. The pros of binary options trading are:. The cons of binary options trading are:. Is trading binary options in Nigeria secure? 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. Options are there, but choosing those properly is important. There are various other countries available with open stock exchange binary trading.

However, investing in these is best. The reason is the value of the currencies. Apart from Bitcoin and other cryptos, if you think about trading, these countries are gems. One other reason regarding time overlapping has been explained too. So, if you keep a good base for yourself and follow the best times mentioned for the respective countries, a huge profit is waiting for you. Show all posts. Write a comment abort. Save my name, email, and website in this browser for the next time I comment.

Andre Witzel. Thanks for the expository analysis of the BT times. How to do Day Trading with Binary Options. Is Binary Options trading legal in Singapore? Binary Options vs. classic Options - What is the difference? Is HFX a form of binary trading or not? Are Binary Options legal or not? We need your consent before you can continue on our website. com is not responsible for the content of external internet sites that link to this site or which are linked from it. This material is not intended for viewers from EEA countries European Union.

Binary options are not promoted or sold to retail EEA traders. Binary Options, CFDs, and Forex trading involves high-risk trading. In some countries, it is not allowed to use or is only available for professional traders. Please check with your regulator. Some brokers are not allowed to use in your country. They are not regulated.

For more information read our entire risk warning. If you are not allowed to use it leave this website. We use cookies and other technologies on our website. Some of them are essential, while others help us to improve this website and your experience. Personal data may be processed e. IP addresses , for example for personalized ads and content or ad and content measurement. I understand - visit this website at my own risk. Individual Cookie Preferences. Here you will find an overview of all cookies used.

You can give your consent to whole categories or display further information and select certain cookies. Accept all Save. Essential cookies enable basic functions and are necessary for the proper function of the website. Show Cookie Information Hide Cookie Information. Content from video platforms and social media platforms is blocked by default. If External Media cookies are accepted, access to those contents no longer requires manual consent. Privacy Policy.

Learn more Load video Always unblock YouTube. Risk warning: Your capital can be at risk. Best binary broker:. Quotex - Trade with high profits 1 2 3 4 5 5.

Accepts international clients Min. Percival Knight.

Home » Guide » Binary Options in Nigeria. Given the present rate of population increase, Nigeria is predicted to have a larger population than the US by Access to trading platforms like those of binary options brokers can boost the economy as the citizens would also have a passive source of income.

We have compiled a step-by-step guide for our fellow new traders who want to become established binary traders in Nigeria. This guide will refer to the top three brokers who allow traders from Nigeria to make a trade.

For further information, please visit their sites. There are plenty of binary brokers in Nigeria to choose from on the internet. Though, one should only go with those which are regulated. io is at the top of the list of binary brokers. Nigeria is one of the majority of nations on the planet to use Quotex to trade binary options. In actuality, Quotex. io is governed by the IFMRRC and has features on the site that are ideal for Nigerian traders.

Users may easily and quickly register an account to begin trading thanks to its intuitive user interface. The fact that this broker admits traders from around the world, including the USA and Canada, is one of the reasons it has become so well-known.

However, one drawback is that it only provides trading in binary options. The fact that Pocket Option admits traders from around the world, including the USA and Canada, is one of the reasons it has become so well-known.

So is one drawback that it only provides trading in binary options. Focus Option is a CFD and binary options broker that provides access to the forex, cryptocurrency, commodities, index, and stock markets. But first, decide if you want to start a trading account right now. There is no need to download any software because Focus Option has its own internal web trading platform.

The trading platform works with every browser and operating system, including Windows Our experts discovered a variety of helpful features while utilizing the web trading platform, including:. Like any other digital account, you have signup with the broker, either with a Google profile or Facebook. You can start with a basic version if you are new to the game. However, if you know how trade-in binary options in Nigeria work, you can go for their premium accounts.

It is in the best interest of all reputable and well-known binary options companies for you to develop careful and secure trading habits. Rather, they want to establish a long-term relationship with you. If you are new to this sort of trading, we strongly advise using a free binary options demo account if it is offered.

Just be aware that there may be a deadline before you are required to invest actual money. Each broker has a different range of assets they allow you to trade.

Additionally, commodities like oil, gold, and silver are frequently provided. Many binary brokers also allow you to trade individual stocks and other securities. Though the platform will offer not all stocks, you can generally select from 25 to well-known stocks, like Google and Apple. Every trading platform displays the asset lists properly, and most brokers also post their complete asset listings online.

Binary trading in cryptocurrencies is also extremely popular. Cryptocurrencies are well-liked binary assets because of their volatility. The most widely traded coins are still Bitcoin and Ethereum. However, some brokers list 50 or more other coins. One can trade almost anything with binary, including stocks, currencies, indices, and commodities. From the price of natural gas to the stock price of Google, you can wager on anything. Choose an asset that delivers promising returns and one you are familiar with.

You must strike a balance between price movement and binary options trading volume. Even while making more trades increases your chance of making more money, making fewer, more precise trades is preferable. Additionally, choose a time that goes well with your trading style. Size does matter in the game of binary options. The potential return increases with your investment. On the other hand, keep in mind that your entire investment is at risk.

Therefore, you need an efficient money management strategy that will let you execute enough transactions while yet guarding against losing all of your money. There are a few steps you must do while trading binary options to conduct a profitable trade:. The first step is clearly understanding what you want to achieve. Before entering a trade, you must be aware of your objectives and investment goals. There are a variety of brokers available, so you must conduct thorough research to select one that is reliable and provides the services you require.

The moment of truth! If your predictions worked in your favor, you would earn a certain profit on your deposit, or you will end up paying for losses. It is easy to trade dozens of times a day across any worldwide market because the time frame might be as brief as 60 seconds. If your forecast is accurate, you will typically stand to gain between 70 and 95 percent of your investment.

Because of its remarkable expansion, binary options may already be familiar, even if you are not a market trader or financial expert. Binary options trading is nothing more than a type of investment. It is a financial product where you stake a certain sum of money on a specific asset. But, to be clear, this does not imply that everybody who trades will always make money; on the opposite. Nigerian citizens may trade stocks and foreign currencies as long as they follow the rules and regulations that apply to their industry.

Surprisingly, forex trading in Nigeria is not strictly controlled like in many other countries, such as the USA. This might be partly related to the fact that it is still a relatively new phenomenon progressively gaining popularity among citizens.

Brokers must adhere to certain rules to trade on behalf of their clients, and forex trading in Nigeria is governed by the Central Bank of Nigeria. Additionally, since trade profits are subject to taxation in the nation, they must be declared as such to stay out of trouble with the law. Parallel to that, some rules must be followed when trading stocks in Nigeria, and getting started is said to take just two days. Opening a trading or brokerage account, opening a Central Securities Clearing System CSCS account, and obtaining a Clearing House Number are the stages CHN.

The Nigerian Stock Exchange NSE , which allegedly has about listed companies, can be used to invest in and conduct trading after this procedure is finished, and the necessary documentation is submitted.

It is significant to note that, despite the growing popularity of stock trading, one must be aware of a number of trading and transaction costs. To safeguard the local currency, which continues to function in an economy with a fixed exchange rate, the Central Bank of Nigeria has put in place monetary constraints. Every Nigerian citizen must self-declare their yearly income and pay the appropriate amount of Personal Income Tax, which is determined on a sliding scale.

Binary options are included in the category of trading-related income. Always make careful to keep complete records of all trading activity, even losses, since The Federal Inland Revenue could at any moment require them. Additionally, you will be required to pay Capital Gains Tax on any profits unless binary options trading is your only source of income. In Nigeria, only MasterCard and VISA-issued cards are available as credit or debit cards.

As a result, the only cards one may use to deposit and withdraw money are those issued by local banks and have token security. In contrast to withdrawals, which can take up to two days to process, deposits are processed immediately. On binary options platforms, one cannot use local currency-denominated cards online. Nigerian binary options traders can use any means open, including bank wiring from domestic accounts.

With some limitations, Nigerian binary options traders can also use digital wallets like Skrill, Neteller, and Payza. Only local currency may process Skrill withdrawals made with a local bank account in mind. You may withdraw only Euros from an overseas Skrill account for deposit into a domestic bank account.

Just like a coin, even binary Options have a good and bad side. Here are some Pros and Cons you need to know:. Generally, we can refer to them as standard con artists or fraudsters. They pose a serious threat to the entire binary options trading industry.

Because, and we are sure you will agree, it is extremely offensive to know that you have consistently been defrauded. We must regrettably acknowledge that there are more and more rogue brokers on the market daily, including scams like MyBoption, Metainvesting, Daily Trades, ScalaTrade, etc. The list might go on forever. The issue, though, is that certain long-standing market participants have begun to commit fraud against their loyal customers.

Consequently, you should be extremely careful when selecting a broker to deal with. However, we advise our readers to go through the rules and regulations of the broker before giving in to the luring amount. Read all of the terms and conditions carefully before investing huge capital. Trading with a broker in binary options in Nigeria is much safer than other high-risk trades.

There are only two outcomes: winning or losing a specific amount of money. Show all posts. Write a comment abort. Save my name, email, and website in this browser for the next time I comment. Are Binary Options Legal in Kenya or Not?

All Cryptocurrencies Best Crypto Brokers Bitcoin Ethereum What is Bitcoin Cash? Certainly, there is no point in trying and trade on the American exchange at that time. Successful Nigerian binary options traders go into binary trading with realistic and reasonably achievable goals, and once they clinch them, they leave the market. More information in the Privacy Policy. In Nigeria, the main regulatory body that is in charge of regulating the financial services industry is the Nigerian Securities and Exchange Commission SEC.

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