Binary Options Brokers Nigeria
With a population of over 190 million people, it’s fair to say that quite a lot of people living and based in Nigeria are Binary Options traders, and there are plenty of Brokers that are going to allow you to sign up to their trading sites and apps if that is your own country of residence too.
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.
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.
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.
GBP/USD Pairings – If you do want to place currency-based trades then two currencies that many people do tend to pair up together are GBP and USD, and over any given day or time period those two currencies do tend to move in value against each other.
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.
- One-Touch Binary Options
- Trading GBP/USD
- Crude Oil Prices
- Brent Oil Prices
- Natural Gas Values
- Corn Value
- Double One-Touch Binary Options
- Coffee Values
- Sugar Values
- 60 Seconds Trades
Nigeria Binary Options Trading Tip
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.
Frequently Asked Questions
Can I Place Trades in Nigerian Naira?
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.
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. 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.
Can I Cash-Out Early?
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.
Which Binary Options Brokers are Approved?
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.
How do I Get My Binary Options Account Verified?
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.
Are Binary Options Legal in Nigeria?
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.
Can I place Binary Options Trades on a Mobile?
Let’s face it, using a smart phone is something most of us do these days, and one final thing I am sure that plenty of you out there that are interested in placing any type of Binary Options trades will find of great interest, is that you can download and trade via a mobile trading app.