Like the rest of the world, binary options trading in Nigeria has been gaining popularity over the past few years. This is largely due in part to the lucrative profits which binary traders potentially stand to earn for every successful trade. In addition, this trading type is extremely simple to understand and easy to trade. Best Brokers in Nigeria Most of the optiuni binare in moldova forex options brokers that are servicing traders in Nigeria are offshore.
Although there is a wide array of choices when it comes to which broker to sign up with, we highly recommend our readers to stick to reputable and regulated companies to avoid being scammed. To assist our readers in Nigeria with their selection, we have come up with a list of reputable companies which cater specifically to the needs of these investors. Formed in 1979, it is mandated to supervise the Nigerian Stock Exchange to ensure orderly and transparent dealings of securities traded. However with regards to online trading activities, the SEC do not regulate both forex and binary options trading.
This is largely due to the fact that there is a lack of a regulatory framework to govern online trading even though the concept of online trading has existed in Nigeria since 2004 when online forex trading was first introduced. Nevertheless even with the lack of regulatory oversight in the online trading industry, Nigerians took to online trading like ducks to water when they discovered the lucrative returns which they could potentially earn from trading forex online. Due to the over eagerness and lack of trading experience, the end result was many Nigerian forex traders got their fingers burnt. With mounting losses and a loss of confidence in the industry, many Nigerians began to shy away from online forex trading. Although there are currently no regulations governing binary trading activities in Nigeria, there have been recent calls to the SEC to come up with a regulatory framework to regulate the online trading industry. As to whether new regulations will be imposed by the SEC that remains to be seen.
As for now, Nigerians are free to trade in binaries without any legal impediments from the SEC. Deposit Methods Available In Nigeria With online forex trading established since 2004, Nigerians binary options traders will have no problems in trying to fund their trading accounts with the same methods which forex traders use. Even if the trading account is with an offshore brokerage firm, there are no significant fees involved in the transfer of funds. Nigeria like most countries around does not forbid their citizens from investing in this over the counter trading type. They are not regulated as currently there is no regulatory framework to support regulation for this area.