This will prevent you from putting too much money at danger and losing more money than you can afford to lose. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Nigerians must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others. Nigerians must consider what they wish to trade and what is available. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.

Education includes some of the following:. Compared to other high-risk trades, trading in binary options with a broker is far safer in general. There are just two possible outcomes: winning or losing a certain sum of money.

Additionally, there are no additional fees or commissions involved. Binary options trading is legal as long as it is conducted through a legitimately regulated binary options broker. Trading binary options on currencies between 8 a. and 12 a. is ideal. A majority of trading takes place between 8 AM and 12 AM Eastern Standard Time in the United States and Europe.

Most binary options are traded on a 24 hour basis. There are certain times when binary options are better traded than others. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital.

Windsor Brokers Review. FXChoice Review. Scope Markets Review. FXPesa Review. Weltrade Review. How to Invest in Bitcoin in Nigeria. How to Invest in Crypto in Nigeria. Take advantage of low trading costs with no transaction fees or currency exchange rates.

Best Trading Platform. Forex Trading Platforms. Broker Reviews. OPEN AN ACCOUNT. This is a complete list of binary options forex brokers in Nigeria. Which binary options brokers are best for Nigerian Traders? How to compare binary options forex trading brokers against each other? Which brokers offer a signup bonus for first-time traders? Which Binary Options Brokers offer a mobile app on IOS and Android?

Louis Schoeman. Updated : September 5, Alpari Yes 1, NGN Yes Yes 👉 Open Account 2. AvaTrade Yes 41, NGN No Yes 👉 Open Account 3. HFM Yes 2, NGN No No 👉 Open Account 4. Pepperstone Yes 60, NGN No Yes 👉 Open Account 5. FXTM Yes 10, NGN Yes Yes 👉 Open Account 6. FP Markets Yes 30, NGN No Yes 👉 Open Account 7. GO Markets Yes 61, NGN No No 👉 Open Account.

What are binary options? Overall Rating. Min Deposit. Trading Desk. MetaTrader 4. Total Pairs. Islamic Account. Trading Fees. Account Activation Time. Read Review. ASIC, FSA. MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central. CySEC, FSC, FSCA. MetaTrader 4 and MetaTrader 5. FP Markets. ASIC, CySEC. MetaTrader 4, MetaTrader 5. CySec, FSCA.

GO Markets. ASIC, CySec, FSC, FSA and SCA. Understanding how binary options work 👉 When it comes to binary options, the assumption is a straightforward yes or no proposition: Will an underlying asset be trading above a specific price at a certain time?

How to set up a binary options contract 👉 A contract for a binary option is composed of three fundamental components: The market on which everything is built.

This is the market on which you want to trade — typically brokers offer forex, stock indexes, commodities, and sporting events as trading options. The striking price is the price at which a contract is terminated.

This is the critical price level at which the market must operate. The striking price is critical to the decision-making process in binary options — in order to conduct a trade, you must determine whether you believe the underlying market will be above or below the strike price. The date and time of the expiration. You can trade binary option contracts with durations ranging from five minutes to one week, with the shortest contracts lasting only five minutes.

Regulations and Licenses 👉 This is the first important component that traders must thoroughly evaluate. Account Features 👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.

Deposits and Withdrawals 👉 Nigerians must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.

Range of Markets 👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Customer Support 👉 Customer Support is another crucial factor and Nigerians must check the availability of support trading hours , the quality of support, and the promptness with which the customer support team responds to queries.

Education and Research 👉 Education and Research come in handy to both novice traders and experienced investors. 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.

If you are new to the world of online and mobile Binary Options trading and you are looking to amass as much information as you can before you start to trade, then we cordially invite you to have a good look around his website for we have put together a very wide and very diverse range of trading guides to allow everyone to understand what is involved in the Binary Options trading environment.

We also have lots of question and answers related articles that are going to allow you to very quickly and seamlessly find the answers to all of the most common and some not so frequently asked question regarding trading Binary Options. If you are interested in becoming a Binary Options trader then now is a good time to do just that for you are going to be able to utilize the demo trading platforms at each of our Nigerian trader friendly Binary Options Brokers and when you are good and ready to start trading for real money each site is going o offer you a generous and true valued sign up welcome bonuses to give you an increased chance of making a profit on your initial trading sessions.

We always like to keep our finger on the pulse in regards to what is happening in the world of online and mobile Binary Options trading, and whilst there are many daily news stories from within Nigeria that may have an instant impact of the value of the share price of many home grown companies, there are also lots of worldwide events that are going to make the value of the share price on many companies located elsewhere move quite violently in one direction or another.

This is why in addition to all of our Binary Options trading guides and Binary Options Brokers reviews you will also find plenty of up to date news stories and as such please do have a good look around for when you are a Binary Options trader you really do have to keep abreast with everything that could affect the share price of one of more companies and be able to react immediately.

With the recent devaluing of the Naira then you may be urgently seeking new ways of investing your funds, and Binary Options trading is certainly going to enable you to have a plethora of different ways of investing those funds on a wide range of different trading opportunities.

A binary options broker is a company that gives you access to the markets to trade. The broker provides you with a platform with which you use to trade binary options. Such a binary trading platform maybe a website or mobile application. However, the binary options trading is a fast-growing one with countless numbers of prospective traders coming in regularly. In order to fill this demand, so many companies have come into the space to provide binary options brokerage services.

So many of these binary options brokers have introduced numerous innovative offers and services to make trading much easier and to gain market share over in numerous competitors. However, it must be noted that not all of these binary trading brokers are credible or worth a try; in fact, a good number of them are phonies.

The level of broker scams in the binary options industry in some countries got so high that countries like the US and Japan have to totally ban binary options Similarly, tech giants Apple and Google — owners of the App Store and Play Store, respectively — took actions some years ago to heavily regulate and ban apps that facilitate binary options on their stores.

Does that mean you have to avoid binary options brokers in Nigeria? Absolutely not! With regulation becoming tighter the number of successful scams and fraud in the industry decreased significantly. What you have to do is get smarter at identifying dishonest brokers; the tips below can be good pointers. Binary trading regulation in this sense means being registered with financial regulatory authority, notable of which are Financial Conduct Authority in the UK, European Securities and Markets Authority ESMA , Cyprus Securities and Exchange Commission CySEC.

To be more geographically focused, this hard work is entrusted with Financial Sector Conduct Authority FSCA South Africa and Securities and Exchange Commission in Nigeria. The process of choosing a broker is quite an important one that requires some levels of careful and cautious analysis. This is because whichever broker you choose can go quite a long way in determining how successful you may turn out to be in trading binary options.

There are a lot of binary options brokers out there, with different offers and brokerage models. A good number of them are not credible, and maybe outright binary options scams. As such, one must be equipped with information that will enable you to select the right binary options brokers.

And there are some qualities largely common to all good brokers, as summarised below. By all means, you should go for a regulated broker as there is a clear distinction in the world of binary options between regulated and non-regulated brokers.

Government agencies that regulated binary options brokers include the UK Financial Conduct Authority FCA , the European Securities and Markets Authority ESMA , the Cyprus Securities and Exchange Commission CySEC and the South African Financial Services Board FSB. Signing up with a regulated binary options broker comes with a lot of benefits. For one, you rest assured that the broker will most likely not cheat you, as the regulator must have put in strict guidelines in place for them to comply with.

Furthermore, in the event of bankruptcy or insolvency of the broker, your funds will likely be protected, or otherwise, you will at least receive some compensation. The best binary options brokers provide quality customer support to Nigerian binary options traders. As such if you have any complaints, you can easily reach out to get them fixed.

Beyond customer service, your binary options broker of choice should provide quality brokerage service. This includes user-friendly binary options platform interface, up-to-date binary options charting and technical analysis tools, amongst others.

There are a number of features and qualities which almost all good binary options platforms share. The binary options brokers platform must support fast and efficient execution of trades.

The platform must display up-to-date and accurate live prices of assets traded on it. If prices displayed lag even by a few seconds, it can lead to significant losses in the ultra-volatile world of financial markets trading. Your binary options trading platform of choice must be set-up in a way for you to be able to properly measure the risks involved in each trade you wish to execute.

This can help you avoid significant binary options losses. Some notable binary trading brokers that accept Nigerians include IQ Option Nigeria, Olymp Trade Nigeria, Deriv. com Nigeria, Binary. com Nigeria, amongst others. Each trade you enter must be based on a reasonable basis. This reasonable basis should however arise from carefully done analysis. To be able to properly conduct analysis, you need the right tools. For technical analysis, you need binary options charts, oscillators and indicators that can help you reasonably forecast the likely movements of the price of the assets you are trading.

On the other hand, to conduct fundamental binary options analysis, you need access to live news, events and expert analysis.

Your trading platform must provide you with all these and more. While you look at the upsides in selecting a binary options platform of choice, you should also look at potential red flags that help you avoid the wrong binary options brokers.

They include:. You have to research properly to ensure that your binary options trading platform of choice meets the above criteria.

Once you have decided that, you can then proceed to the registration and binary options login stage. When you sign up with a binary trading broker in Nigeria, and want to trade, using either a demo account or a live account that you have deposited into, you need a binary trading platform on which to do so.

A binary options trading platform is a computer program where you get to place online binary options trades, provided by the broker. However, the binary trading platform is used for much more than just entering and exiting trades. Trading platforms now come with basic and advanced charting tools and indicators to be used for technical analysis.

They can also contain news feeds and reports to be used for fundamental analysis. It should be noted that not all trading platforms are provided or owned by the broker. As such, based on ownership there are 2 basic types of trading platforms: Proprietary and Third-party.

One of the reasons why binary trading brokers in Nigeria host their platforms on third-party programs is that they are usually much more accessible than proprietary platforms.

Another reason is that these third-party binary trading programs are usually filled with more trading tools and resources. One very popular example of such third-party platforms is MetaTrader 4 popularly called MT4 , and its newer version, the MT5. Trading platforms — either proprietary or third-party — can be accessed via web traders for PC users, and mobile apps for smartphones.

There are a number of features that a binary options trading platform should have; these features will generally make your binary trading experience much easier. One required quality of a good binary options trading platform is having an array of good binary trading tools, charts and indicators.

There should be Live Price and Live Updates. One indispensable feature that trading platforms must provide is live price updates. In trading, every number counts and differences or lags in price display may be costly to your trading. Furthermore, your binary trading platform should be accessible on many fronts. Technological advancement has made it easy for us to access the internet using multiple devices; and any automated trading software Nigeria that is worth using should follow suit.

Accessibility on multiple devices will give you access to seamless binary trading, as you can tailor your trading to your lifestyle. The term trading software is often used interchangeably with the trading platform, and rightly so. In many cases, a binary options trading platform essentially means the same as binary trading software. There may be as many binary trading software out there as there are brokers, but not all binary options trading software is worth the use.

This is because the choice of your binary trading software can make or mar your trading. If you choose the wrong trading software, you can set yourself up for debilitating losses in the market. As such, it is recommended that you carefully select your trading software. There are a number of factors that serve as pointers to a good binary options software; some of these factors are summarised below:. A slow binary options trading software is dangerous for your trading and can lead you to make heavy losses.

The slow-to-respond trading software will likely lag in displaying prices of market instruments or slow to feed you relevant market news. This can mislead you into making wrong decisions, thereby ending up hurting your capital. Another factor to look into in selecting your trading software is its level of security. We are in a time when cybersecurity issues and breaches are at their most alarming; and considering the fact that your trading probably involves your hard-earned capital, the software on which you trade should be adequate.

Your binary trading software should come with some good features. Such features that are indispensable include analysis tools, the latest indicators, amongst others. For instance, binary options trading software that does not come with candlestick charts is not worth using.

A demo account is simply an account provided by the binary options broker to you for free. The demo account typically contains virtual money which you can use to make trades in the markets, without any risks to you. Amongst its many numerous uses, the demo account gives newbie traders the opportunity to practise their trading skills, and experienced ones to test out new strategies.

Before you go for binary trading software in Nigeria, it is important that you properly research it. You can check blogs, forums and trader chatrooms for reviews of the binary options software by those who might have used it before. While we are not staying that you avoid new software, we strongly recommend that you go for trading software that has passed the test of time, and have been certified as good.

There are numerous brokers offering binary options trading services to Nigerians, but we have had to handpick those whom we believe are 4 of the very best; they are:. IQ Option is an all-inclusive trading platform that has in recent years dominated the market, especially in Europe. IQ Option Nigeria offers Binary options Services alongside Cryptocurrencies trading, stock CFDs, Digital options and ETFs. We can say convincingly that IQ Options trading platform has one of the most beautiful and easy-to-use user interface.

Olymp Trade Nigeria is owned and managed by Saledo Global LCC with offices in St Vincent and Grenadines. The company was established in and has ever since risen to become one of the fastest-growing trading platforms in the world. One quite unique thing about OlympTrade is how much it invests in education of its users.

There are expert analysts to cater to its clients. Another impressive thing is that it is licensed by the International Financial Commission FinaCom , one of the most trustworthy financial services regulators. com can be said to come from history.

It traces its history back to the year , but was bearing Binary.

FP Markets. As a result, Binary Options may not be suitable for all investors because it is possible to lose all of your invested capital. So is one drawback that it only provides trading in binary options. pocket Option. There are many traders who use to leave the option trading market in the mid, just due to the reason that they don't have enough option trading strategies at their disposal which are proven ones and effective on a long run. The term trading software is often used interchangeably with the trading platform, and rightly so. It is a fact that cataracts and glaucoma are the two most common eye diseases which cause blindness.

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