Successful Binary Options Traders In Nigeria

7 All-time Regulated Binary Options Brokers in Nigeria

vii 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 learn:

  • What is a Binary Options Broker?
  • Which binary options brokers are best for Nigerian Traders?
  • Our recommended
    $5 (2 075 NGN)
    low eolith binary options
    brokers for Nigerian Beginner Traders?
  • How to
    binary options forex trading brokers
    each other?
  • Which brokers offer a
    signup bonus
    for get-go-time traders?
  • Which Binary Options Brokers offer a
    mobile app
  • Which regulated binary options brokers offer  traders to merchandise on the
    MT4/MetaTrader 4 and MT5/MetaTrader 5

And lots more than…

So if you’re set up to go “all in” with the best-tested regulated binary options brokers for Nigerians…

Let’s dive right in…

Louis Schoeman

Updated : September 5, 2022

Best Regulated Binary Options Brokers in Nigeria – Comparison

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

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

  1. Alpari – Overall, Best Regulated Binary Options Broker in Nigeria
  2. AvaTrade – Offers a Diverse Range of Financial Markets to Nigerians
  3. HFM – All-time Broker for Beginner Traders
  4. Pepperstone – All-time Binary Options Banker with Trading Tools
  5. FP Markets – Best MT4 and MT5 Trading Platform Broker
  6. FXTM – Best Low-Deposit Broker in Nigeria
  7. 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 naught at all if the contract is kept open until expiration. They are referred to every bit binary options considering there is no other way to settle the trade.

1. Alpari

FP Markets Review 2


👉 Alpari’s clients in Nigeria have admission to more than than 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 bachelor in the “Binary Options” area of Alpari’s website, allowing y’all to practice your trading skills without having to register with the broker.

👉 You may now practice your trading skills on Spread High / Low options, as well equally other forms of options, without even needing to annals for myAlpari.

Unique Features

Feature Data
⚖️ Regulation Fiscal Services Commission Mauritius (FSC)
📲 Social Media Platforms • Facebook
• Twitter
• Instagram
🏛 CBN Regulation? No
💻 Trading Accounts Forex Standard Account (MT4), Forex Micro Account (MT4),
Forex ECN Business relationship (MT4/five), Forex Pro Account (MT4)
📱 Trading Platform MetaTrader four and MetaTrader 5
💵 Minimum Deposit (₦) 1,000 Naira
💳 Trading Avails Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices
💸 Nigerian Naira-based Account? Yeah
✔️ NGN Deposits Allowed? Yes
💵 Bonuses for Nigerian traders? Aye
📊 Minimum spread From 0.4 pips
💻 Demo Business relationship Aye
☪️ Islamic Account Yes
✔️ Pros ❌ Cons
Alpari has Nigerian-based offices and back up At that place are limited tradable instruments
The broker is a member of the Financial Commission (FC) There is a lack of comprehensive educational materials for novice traders
Offers pop forex trading platforms including proprietary trading platforms and trading apps There are no stock-still tight spread accounts
Trading Signals are offered through AutoChartist, one of the best third-political party providers in the trading manufacture The broker does not take regulation or authorization through the Financial Behave Authority
PAMM Managed Accounts are offered
News on the website is streamed through FxWirePro
There is multilingual client support offered
Committee-free trading options provided
Welcomes traders despite their trading style or trading experience
Offers competitive trading conditions 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 share of more than 14%.

2. AvaTrade

avatrade logo 2

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central


👉 In 2006, AvaTrade became a leading binary options banker, earning a number of significant financial 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 fiscal markets. AvaTrade is a trading platform that caters to the needs of all traders, from the rookie to the experienced.

👉 It offers 24-hour customer service, a large selection of avails, and an hands navigable trading surround. This banker besides provides a comprehensive range of educational resources as well as a number of actress features.

Unique Features

Feature Information
⚖️ Regulation Fundamental Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA
⚖️ CBN Regulation No
📊 Trading Accounts Retail Investor Business relationship, Professional Business relationship Option
💻 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 Yes
☪️ Islamic Business relationship Yes
📊 Social Trading Offered Yes
✔️ Pros ❌ Cons
AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world Variable spreads are not offered
At that place is a broad range of financial instruments that can be traded beyond financial markets There is a limited pick between business relationship types
There are several technical indicators, economic indicators, and other solutions for advanced traders Inactivity fees are applied
There are several trading platforms to cull from Currency conversion fees may exist applied
There is a decent choice of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed to There is a limited number of base currency options offered on accounts
There is a multitude of social trading opportunities offered
The banker accepts whatsoever trading strategy including automatic trading, skillful advisors, scalping, hedging, and others.

Trust Score and Nigerian Market Share

🥇 AvaTrade has a high trust score of 96% and a marketplace share of <v% in Nigeria.

iii. HFM

HF Markets

MetaTrader 4 and MetaTrader 5


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

👉 HFM’due south trading accounts are available in a range of configurations, each of which includes committee-free forex trading for Nigerians.

👉 Binary options volition be available to traders at HFM as a fully licensed and regulated options broker past the Cyprus Securities and Exchange Committee (CySEC).

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

Unique Features

Feature Information
⚖️ 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 four Micro Account, Premium Business relationship, HFcopy Account, Zippo Spread Account, Auto Business relationship
💻 Trading Platform MetaTrader 4, MetaTrader 5
💳 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 Allowed No
💰 Bonuses for Nigerian traders Yep
📈 Minimum spread 0.0 pips EUR/USD
📈 Demo Account Yep
☪️ Islamic Account Aye
✔️ Pros ❌ Cons
Well-regulated CFD and Forex broker that has a decent trust score United States clients and some other regions are non accustomed by HFM
The spreads offered are depression and competitive There may be restricted leverage for EU clients because of regulatory requirements
There are several account types to choose from with reasonable trading fees charged There are no variable spread accounts offered
HFM welcomes all types of traders and trading strategies Limited funding options offered for deposits and withdrawals
At that place is a low minimum deposit requirement and secure methods for deposits and withdrawals
Suited to beginner traders and experienced traders
Offers comprehensive expert trading and market analysis
Offers a decent choice of educational tools and a range of trading tools

Trust Score and Nigerian Marketplace Share

🥇 HFM has a trust score of 83% and a Nigerian market share of 2.v%.

4. Pepperstone



MetaTrader 4, MetaTrader 5, cTrader and TradeView

Trading margined products carries a high level of risk. Pepperstone Markets Kenya Express, CMA Licence No. 128


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

👉 Pepperstone’southward clients have access to the about cutting-edge trading tools and the virtually competitive spreads in the industry, cheers to the company’s longstanding partnership with the iii major third-political party trading platforms.

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

Unique Features

Characteristic Data
⚖️ Regulation ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
📱 Social Media Platforms • Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
🏛 CBN Regulation? No
💻 Trading Accounts Standard account, Razor Account, Professional Account.
📲 Trading Platform MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade
💰 Minimum Deposit (₦) 60,700 Nigerian Naira
💸 Trading Avails • Forex
• Cryptocurrencies
• Shares
• ETFs
• Indices
• Commodities
• Currency Indices
💵 Nigerian Naira-based Account? No
✔️ NGN Deposits Allowed? Yes
💰 Bonuses for Nigerian traders? No
📊 Minimum spread From 0.0 pips
✔️ Demo Account Yes
☪️ Islamic Account Yes
✔️ Pros ❌ Cons
Pepperstone ensures client fund security by keeping it in segregated accounts Nigerian traders do non have a Naira-denominated trading account
Pepperstone is both a multi-regulated and multi-honour-winning broker There are additional fees applied to the Islamic account
Pepperstone caters for all types of traders despite their trading experience or manner There are some leverage restrictions
Well-regulated past some of the top market regulatory entities
Pepperstone accepts Nigerian traders and provides a plethora of educational textile for beginners
There is a demo business relationship and Islamic account offered
There are several funding options offered to traders
Deposit fees and withdrawal fees are non charged

Trust Score and Nigerian Market Share

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

5. FP Markets


MetaTrader iv, MetaTrader 5


👉 Trading platforms like MetaTrader 4, MetaTrader 5, and Iress are bachelor from FP Markets, which also offers raw spreads and large leverage to its clients.

👉 FP Markets provides an outstanding trading environment, with raw spreads and the choice of either ECN or DMA accounts as a trading option.

👉 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 cull from.

👉 Customers will appreciate the high level of client support, the quick sign-upwards procedure, as well every bit the user-friendly client interface that makes FP Markets an excellent option for traders of all feel levels.

Unique Features

Feature Information
⚖️ Regulation ASIC, CySEC
📲 Social Media Platforms • Instagram
• Facebook
• Twitter
• YouTube
🏛 CBN Regulation? No
💻 Trading Accounts MT4/five Standard Account, MT4/5 Raw Account, MT4/v Islamic Standard Account, MT4/5 Islamic Raw Account
📱 Trading Platform cTrader, MT4 and MT5
💵 Minimum Deposit (₦) 30,800 NGN
💰 Trading Assets • Forex
• Shares
• Metals
• Commodities
• Indices
• Cryptocurrencies
• Bonds
💸 Nigerian Naira-based Account? No
✔️ NGN Deposits Immune? Yes
💰 Bonuses for Nigerian traders? No
📊 Minimum spread from 0.0 pips
💻 Demo Account Yeah
☪️ Islamic Account Yes
✔️ Pros ❌ Cons
FP Markets is a well-regulated banker that has a high level of trustworthiness There are no fixed spread accounts offered
At that place is a wide range of markets that tin can be traded across nugget classes There is no dedicated Naira business relationship offered to Nigerian traders
There are powerful trading platforms supported across devices There are withdrawal fees charged
Nigerian traders receive an ECN pricing model with raw and tight spreads There are assistants fees charged on the Islamic Account
There is guaranteed fast trade execution through the Equinix servers
Committee-free trading is provided
There is a dedicated Islamic account pick for Muslim traders
Copy-trading and automatic trading is offered
In that location is a dedicated educational trader’s hub

Trust Score and Nigerian Market place Share

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


FXTM Review 1

MetaTrader 4 and MetaTrader 5


👉 Many new traders in Nigeria will detect FXTM to be a fantastic option for them. FXTM includes a Micro Account with a cheap initial deposit, a great re-create trading platform, and a range of learning courses in both video and written media, amid other things.

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

Unique Features

Characteristic Information
⚖️ Regulation CySEC, FSCA, FCA, FSC Mauritius
📲 Social Media Platforms • Facebook
• Twitter
• LinkedIn
• Instagram
• YouTube
• Telegram
⚖️ CBN Regulation? No
💻 Trading Accounts Micro Account, Advantage Account, Advantage Plus Account
📱 Trading Platform MetaTrader 4, MetaTrader v, FXTM Trader
💵 Minimum Deposit (₦) 10,000 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? Aye
📊 Minimum spread From 0.0 pips
✔️ Demo Account Yeah
☪️ Islamic Account Aye
✔️ Pros ❌ Cons
FXTM is a multi-regulated and honor-winning forex broker Inactivity fees are charged on dormant accounts
There is a dedicated client support team bachelor FXTM does not offer its services to U.s.a. clients
There are several piece of cake and quick funding and withdrawal methods offered
There are three dynamic retail investor accounts to choose from with high maximum leverage ratios
Low minimum deposit requirements and commission-free trading offered
Deposit fees are non charged on any of the payment methods offered and the processing times on withdrawals are quick
There is a pick of educational tools offered and research tools for experienced traders
There is dedicated customer support offered in multiple languages

Trust Score and Nigerian Marketplace Share

🥇 FXTM has a trust score of 93% and an overall market share of over 9.6% in Nigeria.

7. GO Markets

Go Markets logo



👉 In improver to having an ECN business relationship, GO Markets offers a reasonable choice of tradable products on both the MT4 and MT5 trading platforms, which are both well-regulated.

👉 Get Markets’ most prominent feature is the sheer volume of trading tools bachelor 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

Feature Information
⚖️ Regulation ASIC, FSA Seychelles, FSC Mauritius, CySEC
📲 Social Media Platforms • Instagram
• Facebook
• Twitter
• YouTube
🏛 CBN Regulation? No
💻 Trading Accounts Standard Account, Get+ Account
📱 Trading Platform • MetaTrader 4
• MetaTrader 5
💸 Minimum Deposit (₦) 61,700 NGN
💵 Trading Assets • Forex CFDs
• Share CFDs
• Index CFDs
• Metal CFDs
• Commodity CFDs
💰 Nigerian Naira-based Business relationship? No
💳 NGN Deposits Allowed? No
💸 Bonuses for Nigerian traders? No
📊 Minimum spread From 0.1 pips
💻 Demo Account Yes
☪️ Islamic Business relationship No
✔️ Pros ❌ Cons
Become Markets is a well-regulated banker with a high trust score At that place is a loftier minimum deposit
Become Markets offers powerful and user-friendly trading platforms across devices In that location is no Islamic account pick provided for Muslim traders
There are commission-costless trading options offered Nigerian traders may face currency conversion fees when they eolith in Nigerian Naira
Become Markets offers tight spreads and competitive commissions There are no local deposits and withdrawals offered to Nigerian traders
Trading Fundamental, VPS, Myfxbook, AutoChartist, and MT4/five Genesis is offered There are no Nigerian Naira-denominated accounts
Traders have admission to a-Quant tools
There is a comprehensive GO Trade Academy educational portal for beginners
Become Markets offers dedicated customer back up

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 yeah or no proposition: Will an underlying nugget be trading in a higher place a specific cost at a certain time?

👉 Every bit a result, it is one of the most straightforward financial assets to trade, with traders placing transactions based on whether they believe the response is yes or no.

👉 Because of its simplicity, it has gained widespread acceptance amidst traders and newbies to the financial markets.

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

👉 Investing in binary options is as easy as asking a simple question: volition this market be in a higher place this price at this item point in time? If you believe it is, you lot buy; if you believe it is not, you sell.

👉 As a outcome, binary options are priced between $0 and $100, assuasive you to choose how much majuscule you are willing to gamble.

👉 Because each contract will testify you the greatest amount of money you may win and the maximum amount of coin you could lose, you can ever brand an informed decision and ensure that losses do not spiral out of paw.

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

👉 If your deal does not go through, you volition non receive a compensation for information technology. This means that you have lost your capital, but not anything else, considering your chance has been limited.

👉 Binary selection contracts can provide traders with fast-paced trading opportunities while also limiting their exposure to risk, making them an excellent pick for traders of all levels of experience.

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

How to ready a binary options contract

👉 A contract for a binary option is composed of 3 fundamental components:

  1. The market place on which everything is built. This is the marketplace on which you want to trade – typically brokers offer forex, stock indexes, commodities, and sporting events equally trading options.
  2. The hit price is the price at which a contract is terminated. This is the critical price level at which the market must operate. The hit cost is critical to the decision-making process in binary options – in gild to conduct a trade, y’all must determine whether y’all believe the underlying market volition be above or beneath the strike price.
  3. The date and time of the expiration. Y’all tin can trade binary option contracts with durations ranging from five minutes to i week, with the shortest contracts lasting simply five minutes.

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

➡️ Forex

➡️ Stock indices

➡️ Commodities

➡️ Events

How to choose a forex broker

👉 Nigerian traders must evaluate the post-obit components of a forex banker to determine whether the broker is suited to their unique trading objectives and/or needs.

Regulations and Licenses

👉 This is the first of import 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 only accept offshore regulations such as FSA, SVG BVI, FSC, and others.

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 amid 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 banker offers. Nigerians must consider what they wish to trade and what is available.

Client Support

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

Trading Platform

👉 A trading platform is the Nigerian trader’south portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, key analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.

Pedagogy and Research

👉 Education and Research come up in handy to both novice traders and experienced investors. Education includes some of the post-obit:

➡️ eBooks

➡️ Trading guides

➡️ Trading knowledge on leveraged products

➡️ A risk alarm on complex instruments

➡️ Educational videos

👉 Inquiry can include some of the following:

➡️ Trading tools

➡️ Commentary

➡️ Condition of International Markets

➡️ Toll movements

➡️ Market sentiments

➡️ Whether at that place is a volatile market

➡️ Substitution Rates

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


Is information technology safe to merchandise binary options?

Compared to other high-adventure trades, trading in binary options with a broker is far safer in general. It’s unproblematic and straightforward, with a clear understanding of how much y’all may expect to win or lose before making a decision. If yous don’t know what you’re doing with your investments, y’all’re not going to lose coin.

Tin you win with binary options?

There are merely 2 possible outcomes: winning or losing a certain sum of coin. Additionally, there are no boosted fees or commissions involved.

Is binary trading legal?

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

What is the best time for binary options trading?

Trading binary options on currencies between eight a.m. and 12 a.m. is ideal. A majority of trading takes place between 8 AM and 12 AM (Eastern Standard Fourth dimension) in the United States and Europe.

Can you trade binary options 24/7?

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


👉 Overall, binary options trading is a straightforward and relatively depression-gamble trading method that is best conducted through regulated binary options brokers in Nigeria.


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