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.

When not to trade Binary Options? Binary Options academy: Complete guide to learn trading Binary Options. How to trade Binary Options in Oman- Guide. Are Binary Options an investment or not?

How to trade Binary Option in Papua New Guinea - Guide. 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.

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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? Can binary options trading in Nigeria be profitable? Percival Knight.

I am an experienced Binary Options trader for more than 10 years. Mainly, I trade 60 second-trades at a very high hit rate. I agree to the data protection conditions. More information in the Privacy Policy. August, September, November, Our favorite. The best Binary Broker for traders: Accepts international clients Min.

Privacy Preference. Privacy Preference Essential 1. Name Borlabs Cookie Provider Owner of this website Purpose Saves the visitors preferences selected in the Cookie Box of Borlabs Cookie.

Cookie Name borlabs-cookie Cookie Expiry 1 Year. External Media 7 External Media. Accept Facebook Name Facebook Provider Meta Platforms Ireland Limited, 4 Grand Canal Square, Dublin 2, Ireland Purpose Used to unblock Facebook content. So, it is essential to only do business with honest, tested, and regulated brokers like the IQ Option Nigeria is. Check out IQ Option complete review. Is IQ Option legal in Nigeria?

Yes, IQ Option accepts traders from Nigeria. It is legal to trade with IQ Option in Nigeria. However, you can check the updated list of restricted countries on the IQ Option Website. While selecting a binary options broker in Nigeria, you should consider depositing with the one that has excellent customer support.

Although IQ Option does not have its local office in Nigeria, its support team will never let you feel the absence of a local office.

They have a 24×7 support team ready to help you on Live Chat, Email, and through a phone call. You can request a call back from your account manager anytime you want. The fund deposit and withdrawals are also processed swiftly for traders.

The traders can contact IQ Option support in Nigeria by email — support iqoption. com and expect a quick reply to their queries. IQ Option Review. Olymp Trade is one of the most famous and claims to be the fastest growing online brokers worldwide. FinaCom would be a contact person for every trader if they got some issues with the broker. The Olymp trade Nigeria offers a free demo account as an excellent way to learn more about the platform without risk.

Also, it provides a BONUS for every new trader. You can use this bonus to make an extra profit. It is a good program for any trader who wants to trade with more volume on the markets. You can avail of this for free, and no restrictions for your account.

There are only advantages to it, so talk to your account manager if you need help. Currently, Olymp Trade does not have any local office in Nigeria and no local phone support. The good thing is you can reach the customer support team by Live Chat, Email, and Telephone. You need to ensure you will not be left alone when any problems occur.

You can contact support-en olymptrade. com for quick support. Olymp Trade Review. Yes, Binary Options trading is legal in Nigeria. And no rules are preventing it in Nigeria. The Central Bank of Nigeria CBN and the Securities and Exchange Commission SEC have the power to set up a regulatory framework for trading binary options in the country.

Currently, the lack of rules overseeing online binary options trading in Nigeria does not make it illegal. Traders in Nigeria can be sure that they are not violating any law. It would be best to choose a trustworthy broker like IQ Option, Olymp Trade, Binomo, or ExpertOption as these the most trusted names in the industry. Often, new traders face a dilemma in picking the right broker. Choosing the right binary options broker is the first step when trading Binary Options. Brokers will work as a bridge in the financial market.

There are many brokers available on the Nigerian market now. It is always good to check whether the broker is regulated or not. So, newbies should be cautious if they want to ensure a safer investment. There are some brokers whom you might think are great, but are in fact scam.

A binary options broker that offers a demo account is the first step to figuring out if it will fit your needs. If you want a Broker that provides you the potentially very profitable Boundary Binary Options, then try IQ Option Nigeria risk-free demo account. Binary Options trading is less complicated, but it is not that simple you are thinking. There are lots of traders still losing money due to poor strategy and psychological fact.

Just take the right decision with a small investment amount. Also, specific analysis skills, risk management skills, and good trading discipline can bring good money and the key to long-term success. Yes, Binary Options are considered one of the riskiest forms of investment. You bet if the price will be higher or lower after a certain time. Keep in mind that you have to walk through a road where you will find many hindrances. And the best weapon you carry is your knowledge.

And the risk is limited to the amount you decide while entering the trade. Just take it easy and make the right decision at the right time with a small investment amount. For beginner traders, before making any decision to trade with real money, it is important that you learn and practice in a risk-free demo account. The traders can practice without the fear of losing money in this account. This account can be replenished for free if you lose all the virtual money in the account.

Technical Indicators for trading Binary Options Online investment has no guarantee, but there are plenty of tools and tips that could reduce the risk.

And these are extremely important when investing in binary options.

However, some people have never in Nigeria have never heard of Binary Options or do not understand what exactly they are, but are keen to learn more about them, and that is the purpose of the following guide. Below I am going to give you an insight into what they are and pass onto you a few trading tips, and that should hopefully allow you to make up your own mind as to whether they are a type of financial product that you will be willing to embrace and trade.

In their most basic form, Binary Options are simply a type of financial trade on which you have to correctly predict whether something is going to rise in value or fall in value over any given time period, and if you predict the way those values move then you have placed a winning Binary Options trade and are paid out accordingly. As for just what you are going to be able to place Binary Options trades on if you do live in Nigeria, well there are certainly going to be lots of different commodities, currencies and assets that you can pick and choose from, and below are some of the most popular types of Binary Options trades that Nigerian traders do base their trades around.

Currency Pairs Trades — You will have the opportunity of placing currency pairing trades at most Brokers sites and on their apps too, and what you have to try and do is to pick a currency that is either going to increase or decrease in value against the other one to have placed a winning trade.

Stock Trading — Stocks are another popular type of Binary Options trade that you are going to be able to place in Nigeria, and as such simply pick a company and then accurately predict if that companies shares will increase or decrease on value over a set time period.

Below you will find a very good mix of different types of Binary Options trades that you can place from Nigeria, so do learn more about each type of trade as by doing so you will always have the option of placing them when you spot one that looks profitable.

It is important that you keep the processing costs and fees down to a very low level when you make a deposit or a withdrawal from your trading accounts, so if you can do try and use a debit card to make deposits as you can then have your profits sent back to the bank account that card is linked up to. By learning more about One-Touch Binary Options you are going to find a whole new and very exciting world of Binary Options trading, and as soon as the trade touches the way you predicted it would then you will have placed a winning trade.

It is the Call and Put Trades that are the most basic types of trades you an place these days, and as such if you are new to Binary Options trading then please do discover how those types of trades work and operate as you will have loads of those types of trading opportunities available to you know matter where you choose to place your Binary Options trades.

No trader is going to want to have to pay currency conversion fees and charges when they top up their Binary Options trading accounts or when they make a withdrawal from those accounts. That is why you should actively ensure that the Broker you do sign up to and trade at gives you the option of depositing, trading and withdrawing your profits in Nigerian Naira, and plenty of them do by the way. You will never want to experience any delays regarding making a deposit into your trading account and you will certainly not want to experience any delays when it comes to cashing out and withdrawing your profits either.

That is why you will find all top-rated Brokers will offer their customers a very diverse range of different payment options which can include options such as bank wires and web and e-wallet payment options too.

Some type of Binary Options trades will allow traders to cash out any profits early, however do keep in mind that rather than wait for the full expiry time of such trades, when taking an early cash-out option you will be offered a smaller percentage of your profit, but many traders prefer to take such an early cash-out option to guarantee them a winning profit on such trades.

Just be aware that not every single Binary Options Broker that you come across online will be approved and fully licensed. However, to make finding licensed and approved Broker easy, you are going to find all the top-rated ones showcased to you throughout this website, so do feel free to read out reviews of each of them.

To keep your Binary Options account safe and highly secure, and to ensure that your details are validated too all Binary Options Brokers will require you to send into them a copy of a Government issued identification document such as a Driving License or a Passport, along with a recent utility bill to validate your address, that process is streamlined so you will not be waiting long to get your account verified.

You can of course place absolutely any type of Binary Options trade legally from Nigeria, but to ensure that you never experience any problems placing such trades, then I do urge you to stick to trading at those Brokers that you see showcased throughout this website, as they are all fully licensed and as such they offer a highly regulated trading environment for all Nigeria based traders.

Binary Options Brokers Nigeria. Popular Trade Types in Nigeria As for just what you are going to be able to place Binary Options trades on if you do live in Nigeria, well there are certainly going to be lots of different commodities, currencies and assets that you can pick and choose from, and below are some of the most popular types of Binary Options trades that Nigerian traders do base their trades around.

Top 10 Trading Options in Nigeria Below you will find a very good mix of different types of Binary Options trades that you can place from Nigeria, so do learn more about each type of trade as by doing so you will always have the option of placing them when you spot one that looks profitable. Resources By learning more about One-Touch Binary Options you are going to find a whole new and very exciting world of Binary Options trading, and as soon as the trade touches the way you predicted it would then you will have placed a winning trade.

Frequently Asked Questions Can I Place Trades in Nigerian Naira? Nigeria Trader Friendly Payment Options You will never want to experience any delays regarding making a deposit into your trading account and you will certainly not want to experience any delays when it comes to cashing out and withdrawing your profits either. Can I Cash-Out Early? Which Binary Options Brokers are Approved? How do I Get My Binary Options Account Verified? Are Binary Options Legal in Nigeria?

Can I place Binary Options Trades on a Mobile? Share this article:.

To keep your Binary Options account safe and highly secure, and to ensure that your details are validated too all Binary Options Brokers will require you to send into them a copy of a Government issued identification document such as a Driving License or a Passport, along with a recent utility bill to validate your address, that process is streamlined so you will not be waiting long to get your account verified. Some type of Binary Options trades will allow traders to cash out any profits early, however do keep in mind that rather than wait for the full expiry time of such trades, when taking an early cash-out option you will be offered a smaller percentage of your profit, but many traders prefer to take such an early cash-out option to guarantee them a winning profit on such trades. Also, along with the broker reviews for you to become a well-informed trader. For Nigerian binary options traders, it has been a slow and evolving journey, but one which is proving to be worthwhile. Currently, Olymp Trade does not have any local office in Nigeria and no local phone support. No trader is going to want to have to pay currency conversion fees and charges when they top up their Binary Options trading accounts or when they make a withdrawal from those accounts. To do that, you need to utilize the demo trading accounts.

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