Successful Binary Options Traders In Nigeria

7 Best Regulated Binary Options Brokers in Nigeria

The 7 Best Regulated Binary Binary Options Brokers in Nigeria revealed. Nosotros tested and verifiedthe best regulated binary options, forex brokers, for Nigerian Traders.

This is a complete list of binary options forex brokers in Nigeria.

In this in-depth guide you'll acquire:

What is a Binary Options Broker?
Which binary options brokers are best for Nigerian Traders?
Our recommended $5 (two 075 NGN) depression eolith binary options brokers for Nigerian Beginner Traders?
How to compare binary options forex trading brokers confronting each other?
Which brokers offering a signup bonus for first-time traders?
Which Binary Options Brokers offering a mobile app on IOS and Android?
Which regulated binary options brokers offer traders to trade on the MT4/MetaTrader 4 and MT5/MetaTrader 5 platforms?

And lots more…

So if yous're ready to go "all in" with the best-tested regulated binary options brokers for Nigerians…

Let's dive right in…

Louis Schoeman

All-time Regulated Binary Options Brokers in Nigeria – Comparison

🥇 Banker	✔️ Regulated Binary Options Banker?	💸 Minimum Deposit (₦)	✔️ Nigerian Naira-based Account?	💰 NGN Deposits Allowed?	👉 Open up An Business relationship
1. Alpari	Yeah	1,000 NGN	Aye	Yep	👉 Open up Account
two. AvaTrade	Yes	41,500 NGN	No	Aye	👉 Open Business relationship
3. HotForex	Yeah	2,000 NGN	No	No	👉 Open Account
iv. Pepperstone	Aye	60,700 NGN	No	Yes	👉 Open Account
5. FXTM	Yep	10,000 NGN	Yep	Yes	👉 Open up Account
half dozen. FP Markets	Yeah	30,800 NGN	No	Aye	👉 Open Account
7. Go Markets	Yes	61,700 NGN	No	No	👉 Open up Account

vii Best Regulated Binary Options Brokers in Nigeria (Updated 2022)

Alpari – Overall, All-time Regulated Binary Options Broker in Nigeria
AvaTrade – Offers a Diverse Range of Financial Markets to Nigerians
HotForex – Best Broker for Beginner Traders
Pepperstone – All-time Binary Options Banker with Trading Tools
FP Markets – Best MT4 and MT5 Trading Platform Broker
FXTM – All-time Low-Eolith Broker in Nigeria
GO Markets – Best Regulated Binary Options Banker with an ECN Account

What are binary options?

👉 Binary options are financial options that have one of two payoff alternatives. These alternatives are either a fixed sum or nothing at all if the contract is kept open until expiration. They are referred to as binary options considering there is no other fashion to settle the trade.

1. Alpari

Overview

👉 Alpari'due south clients in Nigeria have admission to more 250 markets, including forex, stocks, indices, metals, and cryptocurrencies.

👉 Alpari offers the MetaTrader 4 and MetaTrader 5 platforms on its desktop, online, and mobile platforms, respectively, and on its web platform.

👉 The OptionTrader demo version is now available in the "Binary Options" area of Alpari's website, assuasive you to practice your trading skills without having to register with the banker.

👉 You lot may at present practice your trading skills on Spread High / Low options, as well as other forms of options, without even needing to register for myAlpari.

Unique Features

Feature	Information
⚖️ Regulation	Financial Services Commission Mauritius (FSC)
📲 Social Media Platforms	• Facebook • Twitter • Instagram
🏛 CBN Regulation?	No
💻 Trading Accounts	Forex Standard Business relationship (MT4), Forex Micro Account (MT4), Forex ECN Business relationship (MT4/v), Forex Pro Account (MT4)
📱 Trading Platform	MetaTrader iv and MetaTrader 5
💵 Minimum Eolith (₦)	one,000 Naira
💳 Trading Assets	Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Bolt, Stock Trading, Spot Indices
💸 Nigerian Naira-based Account?	Yes
✔️ NGN Deposits Allowed?	Yes
💵 Bonuses for Nigerian traders?	Yes
📊 Minimum spread	From 0.4 pips
💻 Demo Account	Yeah
☪️ Islamic Business relationship	Yes

✔️ Pros	❌ Cons
Alpari has Nigerian-based offices and support	At that place are limited tradable instruments
The broker is a member of the Financial Committee (FC)	There is a lack of comprehensive educational materials for novice traders
Offers popular forex trading platforms including proprietary trading platforms and trading apps	There are no fixed tight spread accounts
Trading Signals are offered through AutoChartist, one of the all-time third-party providers in the trading industry	The banker does not have regulation or authorization through the Financial Carry Authority
PAMM Managed Accounts are offered
News on the website is streamed through FxWirePro
In that location is multilingual customer back up offered
Committee-complimentary trading options provided
Welcomes traders despite their trading manner or trading feel
Offers competitive trading weather condition across trading accounts including some of the lowest spreads on leveraged trading

Trust Score and Nigerian Market Share

🥇 Alpari has a trust score of 95% and an overall market place share of more than than 14%.

ii. AvaTrade

MetaTrader iv and MetaTrader 5

Overview

👉 In 2006, AvaTrade became a leading binary options broker, earning a number of significant fiscal industry accolades over its tenure in the business.

👉 Today, information technology is a multinational corporation that provides its investors with access to a diverse range of financial markets. AvaTrade is a trading platform that caters to the needs of all traders, from the rookie to the experienced.

👉 It offers 24-hr customer service, a big selection of assets, and an easily navigable trading environs. This broker also provides a comprehensive range of educational resources equally well as a number of extra features.

Unique Features

Characteristic	Information
⚖️ Regulation	Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA
⚖️ CBN Regulation	No
📊 Trading Accounts	Retail Investor Account, Professional Account Selection
💻 Trading Platform	AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💳 Minimum Deposit (₦)	41,000 Nigerian Naira equivalent to $100
📈 Trading Assets	Foreign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, Contract for Difference (CFD), Precious Metals
📊 Nigerian Naira-based Account?	No
💳 NGN Deposits Allowed	No
💰 Bonuses for Nigerian traders	Aye
📈 Minimum spread	0.9 pips EUR/USD
📈 Demo Account	Yeah
☪️ Islamic Account	Yeah
📊 Social Trading Offered	Yep

✔️ Pros	❌ Cons
AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world	Variable spreads are not offered
There is a wide range of fiscal instruments that tin can be traded across fiscal markets	There is a limited choice between account types
There are several technical indicators, economical indicators, and other solutions for advanced traders	Inactivity fees are practical
In that location are several trading platforms to choose from	Currency conversion fees may be practical
There is a decent selection of educational fabric that helps beginner traders navigate circuitous instruments and lower the degree of risk they are frequently exposed to	There is a limited number of base of operations currency options offered on accounts
There is a multitude of social trading opportunities offered
The banker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others.

Trust Score and Nigerian Market Share

🥇 AvaTrade has a loftier trust score of 96% and a market place share of <5% in Nigeria.

3. HotForex

MetaTrader 4 and MetaTrader 5

Overview

👉 More than 150 trading instruments, including forex, commodities, indices (stocks and futures), bonds, and CFDs on cryptocurrencies, are bachelor to Nigerian traders with HotForex.

👉 HotForex's trading accounts are available in a range of configurations, each of which includes commission-free forex trading for Nigerians.

👉 Binary options will be available to traders at HotForex as a fully licensed and regulated options banker by the Cyprus Securities and Exchange Commission (CySEC).

👉 A number of analysts believe that the extraordinarily volatile nature of binary options puts investors at risk to an excessive degree. Simply HotForex claims that binary options are hands accessible to traders of all levels of experience, even beginners.

Unique Features

Feature	Data
⚖️ Regulation	FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions
⚖️ CBN Regulation	No
📊 Trading Accounts	MT5/MT iv Micro Business relationship, Premium Account, HFcopy Account, Zero Spread Business relationship, Auto Business relationship
💻 Trading Platform	MetaTrader 4, MetaTrader v
💳 Minimum Deposit (₦)	2,000 Nigerian Naira equivalent to $v
📈 Trading Assets	Forex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Equity markets and Stocks DMA, ETFs
📊 Nigerian Naira-based Business relationship?	No
💳 NGN Deposits Immune	No
💰 Bonuses for Nigerian traders	Yes
📈 Minimum spread	0.0 pips EUR/USD
📈 Demo Account	Yes
☪️ Islamic Account	Yes

✔️ Pros	❌ Cons
Well-regulated CFD and Forex broker that has a decent trust score	United States clients and some other regions are non accepted past HotForex
The spreads offered are low and competitive	There may be restricted leverage for Eu clients because of regulatory requirements
In that location are several account types to choose from with reasonable trading fees charged	In that location are no variable spread accounts offered
HotForex welcomes all types of traders and trading strategies	Limited funding options offered for deposits and withdrawals
There is a depression minimum eolith requirement and secure methods for deposits and withdrawals
Suited to beginner traders and experienced traders
Offers comprehensive adept trading and market analysis
Offers a decent selection of educational tools and a range of trading tools

Trust Score and Nigerian Marketplace Share

🥇 HotForex has a trust score of 83% and a Nigerian market share of 2.five%.

4. Pepperstone

Australia, Bahama islands, Cyprus, Dubai, Frg, Kenya, Great britain

MetaTrader 4, MetaTrader 5, cTrader and TradeView

Overview

👉 Internationally recognized FCA and ASIC regulated banker Pepperstone has loftier-speed execution and an offering for novices that other ECN brokers lack.

👉 Pepperstone's clients take access to the well-nigh cutting-edge trading tools and the most competitive spreads in the industry, thank you to the company's longstanding partnership with the iii major third-party trading platforms.

👉 Pepperstone is a fantastic alternative for Forex traders in Nigeria seeking for a low-cost and undecayed ECN banker with proficient education and market analysis sections and a decent array of trading tools.

Unique Features

Characteristic	Information
⚖️ Regulation	ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
📱 Social Media Platforms	• Facebook • Twitter • Instagram • LinkedIn • YouTube
🏛 CBN Regulation?	No
💻 Trading Accounts	Standard business relationship, Razor Business relationship, Professional Account.
📲 Trading Platform	MetaTrader iv, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade
💰 Minimum Deposit (₦)	60,700 Nigerian Naira
💸 Trading Assets	• Forex • Cryptocurrencies • Shares • ETFs • Indices • Commodities • Currency Indices
💵 Nigerian Naira-based Account?	No
✔️ NGN Deposits Immune?	Yes
💰 Bonuses for Nigerian traders?	No
📊 Minimum spread	From 0.0 pips
✔️ Demo Account	Yes
☪️ Islamic Business relationship	Yes

✔️ Pros	❌ Cons
Pepperstone ensures client fund security by keeping it in segregated accounts	Nigerian traders do not have a Naira-denominated trading account
Pepperstone is both a multi-regulated and multi-honor-winning banker	There are boosted fees applied to the Islamic account
Pepperstone caters for all types of traders despite their trading experience or way	There are some leverage restrictions
Well-regulated by some of the superlative market regulatory entities
Pepperstone accepts Nigerian traders and provides a plethora of educational cloth for beginners
There is a demo account and Islamic account offered
In that location are several funding options offered to traders
Deposit fees and withdrawal fees are not charged

Trust Score and Nigerian Market Share

🥇 Pepperstone has a very high trust score of 92% and a market place share of <5% in Nigeria.

5. FP Markets

MetaTrader four, MetaTrader five

Overview

👉 Trading platforms like MetaTrader four, MetaTrader 5, and Iress are bachelor from FP Markets, which likewise offers raw spreads and large leverage to its clients.

👉 FP Markets provides an outstanding trading environs, with raw spreads and the pick of either ECN or DMA accounts every bit a trading choice.

👉 The MetaTrader and Iress trading platforms are suitable for both novices and experienced traders, and there is a broad range of FX, equity CFDs, futures, and cryptocurrencies to choose from.

👉 Customers volition appreciate the high level of customer back up, the quick sign-upward process, besides as the user-friendly customer interface that makes FP Markets an excellent choice for traders of all experience levels.

Unique Features

Feature	Data
⚖️ Regulation	ASIC, CySEC
📲 Social Media Platforms	• Instagram • Facebook • Twitter • YouTube
🏛 CBN Regulation?	No
💻 Trading Accounts	MT4/v Standard Account, MT4/5 Raw Account, MT4/five Islamic Standard Business relationship, MT4/v Islamic Raw Account
📱 Trading Platform	cTrader, MT4 and MT5
💵 Minimum Deposit (₦)	thirty,800 NGN
💰 Trading Assets	• Forex • Shares • Metals • Bolt • Indices • Cryptocurrencies • Bonds
💸 Nigerian Naira-based Business relationship?	No
✔️ NGN Deposits Allowed?	Yes
💰 Bonuses for Nigerian traders?	No
📊 Minimum spread	from 0.0 pips
💻 Demo Business relationship	Yes
☪️ Islamic Account	Yes

✔️ Pros	❌ Cons
FP Markets is a well-regulated broker that has a high level of trustworthiness	In that location are no fixed spread accounts offered
There is a wide range of markets that can be traded across nugget classes	At that place is no defended Naira account offered to Nigerian traders
There are powerful trading platforms supported across devices	In that location are withdrawal fees charged
Nigerian traders receive an ECN pricing model with raw and tight spreads	There are administration fees charged on the Islamic Account
There is guaranteed fast trade execution through the Equinix servers
Commission-free trading is provided
There is a dedicated Islamic account option for Muslim traders
Copy-trading and automatic trading is offered
There is a dedicated educational trader'south hub

Trust Score and Nigerian Market place Share

🥇 FP Markets has a high trust score of 81% and a market share of <five% in Nigeria.

6. FXTM

MetaTrader 4 and MetaTrader five

Overview

👉 Many new traders in Nigeria volition find FXTM to be a fantastic choice for them. FXTM includes a Micro Account with a cheap initial eolith, a cracking copy trading platform, and a range of learning courses in both video and written media, amidst other things.

👉 Get-go traders can also benefit from its daily marketplace analysis, which helps them comprehend the existent-world ramifications of news events on the options marketplace and where trading opportunities exist.

Unique Features

Feature	Information
⚖️ Regulation	CySEC, FSCA, FCA, FSC Mauritius
📲 Social Media Platforms	• Facebook • Twitter • LinkedIn • Instagram • YouTube • Telegram
⚖️ CBN Regulation?	No
💻 Trading Accounts	Micro Business relationship, Advantage Account, Advantage Plus Business relationship
📱 Trading Platform	MetaTrader 4, MetaTrader v, FXTM Trader
💵 Minimum Deposit (₦)	x,000 Naira
💳 Trading Assets	Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Bolt, Stock Baskets
✔️ Nigerian Naira-based Account?	Aye
💸 NGN Deposits Allowed?	Yes
💰 Bonuses for Nigerian traders?	Yeah
📊 Minimum spread	From 0.0 pips
✔️ Demo Account	Yep
☪️ Islamic Account	Yes

✔️ Pros	❌ Cons
FXTM is a multi-regulated and award-winning forex banker	Inactivity fees are charged on fallow accounts
There is a dedicated client support team available	FXTM does not offering its services to United States clients
In that location are several easy and quick funding and withdrawal methods offered
At that place are three dynamic retail investor accounts to choose from with high maximum leverage ratios
Low minimum deposit requirements and committee-free trading offered
Deposit fees are not charged on any of the payment methods offered and the processing times on withdrawals are quick
There is a selection of educational tools offered and enquiry tools for experienced traders
There is dedicated customer back up offered in multiple languages

Trust Score and Nigerian Market place Share

🥇 FXTM has a trust score of 93% and an overall marketplace share of over nine.vi% in Nigeria.

7. GO Markets

ASIC, CySec, FSC, FSA and SCA

Overview

👉 In addition to having an ECN account, Go Markets offers a reasonable pick of tradable products on both the MT4 and MT5 trading platforms, which are both well-regulated.

👉 GO Markets' most prominent feature is the sheer volume of trading tools available to clients, which includes a VPS hosting service, Autochartist and Trading Central, likewise as MT4/MT5 Genesis and A-Quant, which provides a plethora of daily trading signals.

Unique Features

Characteristic	Information
⚖️ Regulation	ASIC, FSA Seychelles, FSC Mauritius, CySEC
📲 Social Media Platforms	• Instagram • Facebook • Twitter • YouTube
🏛 CBN Regulation?	No
💻 Trading Accounts	Standard Account, Go+ Account
📱 Trading Platform	• MetaTrader 4 • MetaTrader 5
💸 Minimum Deposit (₦)	61,700 NGN
💵 Trading Assets	• Forex CFDs • Share CFDs • Index CFDs • Metallic CFDs • Commodity CFDs
💰 Nigerian Naira-based Account?	No
💳 NGN Deposits Allowed?	No
💸 Bonuses for Nigerian traders?	No
📊 Minimum spread	From 0.i pips
💻 Demo Account	Yes
☪️ Islamic Account	No

✔️ Pros	❌ Cons
Get Markets is a well-regulated broker with a high trust score	In that location is a high minimum eolith
Go Markets offers powerful and user-friendly trading platforms across devices	There is no Islamic account choice provided for Muslim traders
There are commission-complimentary trading options offered	Nigerian traders may face up currency conversion fees when they deposit in Nigerian Naira
Get Markets offers tight spreads and competitive commissions	There are no local deposits and withdrawals offered to Nigerian traders
Trading Central, VPS, Myfxbook, AutoChartist, and MT4/5 Genesis is offered	There are no Nigerian Naira-denominated accounts
Traders accept access to a-Quant tools
There is a comprehensive GO Trade Academy educational portal for beginners
GO Markets offers dedicated customer support

Trust Score and Nigerian Market Share

🥇 GO Markets has a high trust score of 98% and a market share of <5% in Nigeria.

Understanding how binary options work

👉 When it comes to binary options, the assumption is a straightforward yes or no proffer: Will an underlying asset be trading in a higher place a specific price at a certain time?

👉 Every bit a outcome, it is one of the nearly straightforward financial avails to merchandise, with traders placing transactions based on whether they believe the response is yes or no.

👉 Because of its simplicity, information technology has gained widespread acceptance among traders and newbies to the financial markets.

👉 Even though binary options announced to be simple, traders should thoroughly grasp how they function, which markets and time frames they may trade with binary options, as well every bit the advantages and downsides of using these products.

👉 Investing in binary options is as easy equally asking a elementary question: volition this market be above this cost at this particular indicate in fourth dimension? If you believe information technology is, you lot buy; if you believe information technology is not, you sell.

👉 As a issue, binary options are priced between $0 and $100, allowing you lot to choose how much capital you lot are willing to chance.

👉 Because each contract volition testify y'all the greatest amount of money y'all may win and the maximum corporeality of coin you could lose, yous tin always make an informed decision and ensure that losses do not spiral out of hand.

👉 If your trade is a success, you volition receive a $100 payout, which ways your profit will exist $100 less the coin yous spent to open the transaction, resulting in a profit of $100.

👉 If your bargain does not get through, you will not receive a bounty for it. This means that you accept lost your capital letter, but not annihilation else, because your risk has been limited.

👉 Binary option contracts can provide traders with fast-paced trading opportunities while also limiting their exposure to take chances, making them an fantabulous choice for traders of all levels of experience.

👉 Maintaining focus on your trading strategy while also managing risk is critical for success. This volition prevent you from putting too much money at danger and losing more than money than you can afford to lose.

How to set up up a binary options contract

👉 A contract for a binary pick is composed of three fundamental components:

The marketplace 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 hitting price is the price at which a contract is terminated. This is the critical price level at which the marketplace must operate. The striking price is critical to the controlling process in binary options – in order to deport a trade, you must decide whether you believe the underlying market will be above or below the strike price.
The engagement and time of the expiration. You tin can trade binary option contracts with durations ranging from v minutes to i week, with the shortest contracts lasting just 5 minutes.

👉 Traders can access four markets for binary options, namely:

➡️ Forex

➡️ Stock indices

➡️ Commodities

➡️ Events

How to choose a forex broker

👉 Nigerian traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.

Regulations and Licenses

👉 This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by marketplace regulators such as FCA, ASIC, CySEC, FSCA, and others. Nigerians must beware when dealing with brokers that simply take offshore regulations such as FSA, SVG BVI, FSC, and others.

Business relationship Features

👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, so on.

Deposits and Withdrawals

👉 Nigerians must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, eolith fees, and minimum withdrawal limits among other trading and not-trading fees.

Range of Markets

👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Nigerians must consider what they wish to trade and what is available.

Customer Support

👉 Client Support is another crucial cistron and Nigerians must cheque the availability of back up (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.

Trading Platform

👉 A trading platform is the Nigerian trader'south portal to the fiscal markets. Traders must ensure that the trading platform has the necessary technical indicators, cardinal assay, technical assay, economic agenda, charting, newsfeed, and other tools they may need.

Teaching and Research

👉 Teaching and Research come in handy to both novice traders and experienced investors. Education includes some of the following:

➡️ eBooks

➡️ Trading guides

➡️ Trading knowledge on leveraged products

➡️ A chance alarm on complex instruments

➡️ Educational videos

👉 Research tin can include some of the following:

➡️ Trading tools

➡️ Commentary

➡️ Status of International Markets

➡️ Cost movements

➡️ Market place sentiments

➡️ Whether there is a volatile market

➡️ Commutation Rates

➡️ Expert opinions and several other resources tin can help experienced traders brand informed trading decisions.

FAQ

Is information technology prophylactic to merchandise binary options?

Compared to other high-chance trades, trading in binary options with a broker is far safer in general. It'due south uncomplicated and straightforward, with a clear understanding of how much you may expect to win or lose before making a conclusion. If you don't know what you're doing with your investments, yous're not going to lose coin.

Can you win with binary options?

There are just two possible outcomes: winning or losing a sure sum of money. Additionally, there are no additional fees or commissions involved.

Is binary trading legal?

Binary options trading is legal as long every bit it is conducted through a legitimately regulated binary options banker.

What is the best fourth dimension for binary options trading?

Trading binary options on currencies between eight a.one thousand. and 12 a.m. is platonic. A majority of trading takes place between viii AM and 12 AM (Eastern Standard Time) in the United states of america and Europe.

Tin can you lot merchandise binary options 24/7?

Most binary options are traded on a 24 hour basis. There are certain times when binary options are better traded than others.

Conclusion

👉 Overall, binary options trading is a straightforward and relatively low-risk trading method that is all-time conducted through regulated binary options brokers in Nigeria.