Binary Options trading is one of the fastest and easiest ways to make money trading
In this post, I will be showing you the best 7 Binary Options Trading Platform available to Nigerians.
I personally went through 23 Options Trading platforms to come up with 7 of the very best. All 7 companies are registered and closely regulated by regulatory bodies to ensure that their users are well catered for.
At the end of the post, I will also be showing you how to trade profitably.
So, let’s get started.
What you should Know Before you Start Trading Binary
Before I give you the list, I thought I’d throw light on the risks.
Like I said in the intro, Binary options is one of the fastest and easiest ways to make money through trading. You can literally grow $100 to $3,000 within 3 minutes, as seen in the video at the end of this post.
But it carries a high risk because you can lose all the $100 within 3 minutes. Thus, it’s always advised you start with a demo account, practice to know if it’s best for you before putting it in your own money.
However, the question asked by most people is not on winning or losing but on how easily they can make a deposit and how fast they can make withdrawals when they have made a profit.
If you choose to trade binary options, it’s very important you choose a reputable one. This is because there are quite a number of scam option companies out there that let you make a deposit but not withdrawals
But I also got you covered here.
I have personally made deposits and withdrawals from these 7 brokers, tested out their platform, spoken with their customer service, and found them to be very efficient.
Now let’s get to it.
Note: Most binary options trading company does not, which to be addressed as binary options or options company anyone due to regulation. They prefer to be called “fixed time trading companies.” Whatever the name is, they still function the same way.
Before you proceed, I think it’s best you know that we have found Pocket Options as the best options trading company. Create a demo account to check it out.
Top 7 Binary Options Trading Company in Nigeria
Prime XBT was launched in 2018 and has grown exponentially since then. Prime XBT accepts deposits and withdrawals only in Bitcoins, thus it does not require users to verify their account or complete KYC to trade.
It also lets you trade margin with up to 100 times your initial capital. But that’s not all, Prime XBT is also developing its social trading interface (Covesting), where users can copy/mirror other trader’s trade. This feature is most demanded by those that want to earn from trading but don’t have the time to trade.
The forms of trading available on PrimeXBT include:
- PrimeXBT Trade (CFD)
- Turbo Trade (Binary Options)
- Covesting (Social Trading)
2 Pocket Option
Pocket options was established in 2017 by Gembell Limited. It is based in Marshall Island and regulated by IFMRRC.
It has a solid user interface making it easy for users to quickly create an account to start trading. Its trading platform is available in web, desktop, android, and iOS Versions. You will have no problems understanding this platform as a beginner.
One of the reasons why this broker has grown so popular is because it accepts traders from every nook and cranny, including the USA and Canada. Its limitation is that it only offers binary options trading.
3 Deriv (Formerly Binary.com)
Deriv is one of the oldest and most reputable Binary Options companies. It was launched in 2000 as Binary.com but rebranded to Deriv in 2020.
Its rebranding is to show that it has gone beyond binary options to offer more smart options trading form, including;
- DMT5, and
- Smart Trader (which is the tradition Binary.com)
Deriv, as you can see, has been in the game for over 20 years. It has over 1.2 million active users and processes over 6 million USD in withdrawals each month.
It is regulated by multiple agencies in the UK since 2012 making it one of the safest platforms to trade on.
Deposits and withdrawals can be in bitcoins.
Spectre is the first Brokerless decentralized trading platform built on the Ethereum Blockchain.
Let me Elucidate;
when you create an account with other platforms, you will deposit money into their account to trade, trusting that they don’t abscond with your money and also trusting that they always pay you on time when you make a withdrawal request.
But on Spectre, you don’t need to trust anyone because you are in control of your fund each time.
Trading this way is made possible by the Ethereum blockchain.
All you need do is to open an Ethereum wallet on the spectre platform, fund it, and trade directly from your wallet.
Since it’s your wallet, it means that only you have access to the fund in it, even the spectre team cannot access your wallet.
It also means that you can only trade binary options on this platform using the Ethereum Ether (ETH).
There is 24/7 live support on this platform to answer your queries. The minimum deposit on Spectre is $10 in Ethereum.
You can withdraw this instantly any time you want. In my opinion, Spectre is the safest Platform since only you have access to your funds.
Also Read: 5 Tops Exchanges to buy Ethreum Ether in Nigeria
5 Iq Options
IQ Options is an all-inclusive trading platform that has in recent years dominated the market, especially in Europe.
This platform, at its inception, started by offering Binary options Services. However, it has now upgraded to include other types of trading, including Cryptocurrencies trading, stock CFD, Digital Options, and ETFs.
In my opinion and that of many users, Iq options have the most beautiful and easy-to-use ‘trading interface.’ If you are new to trading, you can practice with the demo account; this is preloaded with a replenishable $10,000. However, to withdraw your earnings, you need to open a real account and fund it. The minimum deposit is $10, and you can trade with as little as $1.
The problem you might witness when using Iq options is that the web browser-based trading room might take a long time to load, especially if your internet connection is slow. However, it is very efficient once it has loaded. To bypass this loading problem, it is best you download the desktop app.
Iq option has very responsive 24/7 customer support, there are various ways to make and withdraw funds from Iq options. It is also regulated and registered in Europe that is why it’s making my top 7 list.
6 Expert Option
Expert Option’ a is binary options trading company that is registered in Saint Vincent and Grenadines. This options broker is certified by IFMRRC (International Financial Market Relations Regulation Centre) and is authorized and regulated by Vanuatu Financial Service.
The User Interface is simple and straight to the point. Let me rephrase; Expertoption User interface is among the best I have seen; it is as good if not better than iq options user interface. But unlike IQ options, expert options browser-based trading room loads fast.
You can open 2 trades at once and navigate through them seamlessly without losing sight of any of them. The downside to the expert option is that it does not have a wide range of trading times. Its trading times are 1 minute, 2 minutes, 3 minutes, 4 minutes, and 5 minutes.
This is unlike most digital options brokers that have a trading time from as little as 5 seconds to as high as 24hours.
You can make deposit and withdrawals from this broker using about 20 methods depending on your country, this includes; WebMoney, Neteller, Perfect Money, Skrill, Credit/Debit card, SWIFT transfer, Yandex Money, Qiwi, SMS payments, Skrill, Fasapay, WeChat, Union Pay, etc.
Personally, I prefer to make a deposit using WebMoney.
I have learned not to use the Credit/Debit card. This is because most options broker processes withdrawals using the same method through which deposit was made but usually have problems a crediting naira Credit/Debit card.
So I suggest you create a WebMoney account. You can fund and withdraw from your WebMoney account via instantgoldng.
It also has responsive customer support available 24/7 to attend to your queries.
7 Olymp Trade
Olymp is owned and managed by Saledo Global LCC. It is located in St Vincent and Grenadines, a Caribbean Island in North America.
The company was established in 2014 and has ever since risen to become one of the fastest-growing trading platforms in the world.
Trading here is seamless and lucrative. Olymp Trade does not only offer you a chance to earn but will also teach you how to. This is made possible by a team of world-class analysts.
Its users are constantly growing every day, with over 240,000 traders and up to 35,000,000 trades closed every month.
I found it very impressive that the broker is registered under the International Financial Commission (FinaCom).
FinaCom guarantees monetary compensation of up to 20,000 Euros to any trader who has been unfairly treated by Olymp.
In 2020, Olymp Trade clearly started that do not want to be associated with / addressed as a binary options company but rather a fixed time trading company.
That said, the trading concept is the same.
Note: All the trading platform listed below comes with a replenishable demo account of up to $10,000.
The fund in the demo account cannot be withdrawn. It’s for you to practice trading on these platforms to be sure it’s for you. Once you are contented with the outcome, you can then fund your account with real money to proceed.
Which is the Best of the Best?
All the platforms listed above are top-notch; they have a solid interface, very responsive and friendly customer support, and easy deposit and withdrawal methods.
The differences might be in;
Age:- Deriv is over 20 years, which is more than 2 times the ages of other options platform in this list, meaning it has stood the test of time when compared with the rest.
Country: Pocket Options is the only Binary option on the list that accepts the USA and Canadian residents.
Safety: All the exchanges in the list have proven to be safe, secure, and reputable however, Spectre took it up a notch as the only options platform that lets you handle your fund.
Trading Forms: Prime XBT, Deriv, and Iq Options have gone beyond Binary options to include other trading forms such as CFD, MT5, etc.
So like I said, it all depends on you. You can create an account with all of them, try them out to know the one that suit you best. I will start with Pocket Option though. The Initial deposit is more but it seems more solid.
This brings us to the end of the post. I hope you enjoyed reading it.
Now it’s your turn to give me feedback,
Which of the trading platforms are you going to try out
Which of the Companies do you think should be added or removed from this list of top 7 binary options platforms in Nigeria?
Or maybe you have a question
Let me know right away in the comment section.
Don’t forget to share
PS: If you want to learn how to trade cryptocurrencies profitably, then I suggest you enrol for our cryptocurrency mastery academy.
Our students are already making daily profit by applying the strategies they learnt from the academy.
Goto www.ctmastery.com to enrol.
Trading Binary Options carries high-level risks because you cannot really predict the direction of the market, this can work both to your advantage and disadvantage. As a result, Binary Options may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading, please ensure to understand the risks involved.
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