Last Updated: 8th October 2021.
I believe you will agree with me when I say that forex traders in Nigeria have a choice of whom they want to trade with, either regulated or non-regulated.
The reason is that you should understand the fact that binary options being regulated is not a mandatory task.
However, in order for you to be on the safe side.
It is very important that you choose a forex broker that is regulated.
This will save you from stories that truly touch the heart.
In addition, a broker with a license doesn’t mean it is true for you or it is going to meet up with the need that you truly want as an individual.
That is because every individual’s needs really vary from each other and Nigerians are good when it comes to making choices.
And also, most individuals in Nigeria believe that a broker being regulatory is not mandatory for different reasons which are best known to the citizen of the country.
Overview Of Nigeria Binary Options
Nigeria Binary Options can be traced back to that of the year 2010.
That is the year Binary options have their ways into the country and binary.com being the first broker in the country.
Binary.com made a lot of significant efforts by working with local affiliates and influencers to derive a large number of people into the network.
The company also goes as far as partnering with many local payments gateways in order to provide easy deposits and withdrawals.
However, the US liberty clamp down on Liber Reserve in 2013.
And this really hit the industry so hard and many of this payments system was also forced to short down.
After the FBI has sized the various websites and payments portals.
However, during the year 2015, the binary options market gan to raise back with a strict implementation of regulators.
As a result, binary options go through many jurisdictions.
And the expansion of payments gateways began. Payment gateways like:
- Paysafe ltd
- Neteller
- Skirrl and the likes
And that really helped the Nigeria binary options to clamp higher and that is how it becomes popular.
Is Binary Options Legal in Nigeria
In a word, YES. Binary options are really legal in Nigeria and don’t have any limitations as of the time of writing this article.
However, the first thing you need to understand is the fact that Nigeria doesn’t have any local Binary options brokers.
The forex brokers work with they affiliate locally in order to derive the masses into their various platforms.
They only leverage on the international ones and which can sometimes be difficult.
The reasons for these difficulties actually vary and depend on the individual needs.
But the most obvious ones I have seen so far are the limitations of Nigerians unable to deposit in their local currency.
And Nigeria is also a country whose economy relies on Dollars ($).
Meaning when $ is slow everything becomes normalize and when $ is high everything also skyrocketed in the country.
The imported goods most especially.
And the fact that Nigeria is the largest country in entire Africa doesn’t really help this situation.
In fact, Nigeria’s population is predicted to be that of the US coming year 2030.
And over 60% of these people are under 45 years.
But one obvious truth here is that, as Nigerians grow, they really grow in wisdom and having the ability to raise the standard of the country in every possible way.
And that leads us to the next step.
Best Binary Options Broker in Nigeria
Here, you will discover the top 5 forex brokers in Nigeria that you can tap into and start trading with immediately.
Note that, the scam rate in Nigeria is actually on the high side, and the Internet is the number one side of it.
They are many clone websites out there, trying to be real.
And as a result of that, I have included original websites links in order for you to be on the safe side.
And in addition, if you must learn all you need to know about the best forex brokers in Nigeria, including their features, what they do, and the features.
I recommend you refer to this article which shows all you need to know about the best forex brokers in Nigeria.
But if you don’t want to go through that long journey, just follow what I have listed below and I have included the original websites links that you can get started with immediately.
NOTE: we have selected the best forex brokers above base on our experience and what the users have been saying about them. We also look at their features and ease of use plus their pricing system to get you the best platforms.
However, we have no control over what happened when you start using the platform and that is because it is a third-party website.
Binary Options, Features, Pros, Cons.
I thought you do like to gain more insights into what Binary Options actually are as a whole.
Where it is originating from, the founder, the features, pros, and cons, and anything that has to do with Binary options explanations.
I have explained them all in the very last possible details in a completely separate article.
That you can gain access to here.
However, if your only aim is to get an answer to the popular question “Is Binary Options Trading Legal in Nigeria”.
Then it is YES.
The article INs and OUTs of Binary options won’t be for you then.
But I strongly recommend you go check the article here because it will really build up your mind for anything concerning Binary Options.
The interesting part is that the knowledge you will gain there will put you ahead of others in terms of knowledge when it comes to Binary Options.
Learn More:
- Is Binary Options Legal In UK
- Forex Trendy Review – Best forex signals provider.
- Zcode System Review – Best Game Prediction Site
Conclusion
I hope I am able to answer the question “Is Binary Options Legal in Nigeria?” correctly.
As you can see that Binary options are really legal in Nigeria and don’t have any limitations.
You on the other hand, just need to be careful about the forex broker platform you are dealing with.
As a result, we have gone into deep research to discover the best top 5 legitimate forex broker platforms.
Also, if you want to make more money trading binaries, I suggest that you can check this tool out, it provides you accurate signals about forex trading.
By leveraging on that, you can really supercharge your forex trading income more than your wild imagination.
With that, we have come to the end of “Is Binary Options Legal In Nigeria”.
Now, it is your turn, did you have any questions about “Is Binary Options Legal In Nigeria?”
Or something is not just clear to you.
Pls, do use the comment section below.
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