Nigeria has no binary options licensing regime, and sources disagree on whether offshore providers are merely unrecognised or actually prohibited.
Sourcing note: we could not confirm the legal position in Nigeria against a named primary instrument published by the SEC Nigeria. Verify with the regulator before acting on it.
Archive notice: this page was written in 2016, before binary options were banned for retail clients across the EEA, the UK and Australia. It is kept for reference. For the current position, see Legal status by country.
How does the Bubble feature work?
First you select the asset you want to trade. Then you want to enter the amount of money you want to invest. You can either invest in the investment range set by the platform or go outside of the range using the “other amount box” in the lower left corner. Your next move is to draw your bubble on the platform. You will draw the bubble in the area you think the line will eventually hit, and you can make the bubble bigger or smaller. The smaller the bubble the more you profit, and the bigger the bubble the less you profit. You will then get a calculated rate of return (up to 1000%) that is determined by the probability of that scenario coming true. If the trending line travels into your bubble, then the bubble will burst and you will receive your profits. If the trending line does not hit the inside of your bubble, then you will lose your investment.Pros and Cons
There are definitely some pros and cons in the Bubble platform. The overall pro of the Bubble platform is that you have the chance to earn more than the standard 80% of profit when you win. The overall con of the bubble platform is that the risk of you losing is higher. Instead of just betting that the asset will go above or below the initial price, you are pinpointing on a platform where that trending line will hit. The pro for traders who draw wider bubbles is that they can create better chances of winning for themselves. The con of that, however, is that they january not profit much from their investment. The pro for traders who draw smaller bubbles is that if the bubble hits they can make a very hefty profit (up to 1000%). However, the con is that they take more of a risk of losing when drawing smaller bubbles. A perk for losing traders is that Anyoption offers a refund up to 25% of the investment made.Would traders profit more from a bigger or smaller bubble?
That depends. An investment of a $1,000 has a better chance of being profited from a bigger bubble than a smaller. If you create a big bubble and win, and the platform says that you will earn a 41% profit, you are gaining a $410 profit plus the initial investment. But if you create a smaller bubble and lose, then that’s a $1,000 loss. However, if you do win with a smaller bubble, you will earn more than $410. Smaller bets, on the other hand, can be more of a profit to small bubbles than bigger ones. If you bet a $100 dollars on a smaller bubble and the platform says that you will earn 410% in profit, then that’s a total of $510 you have earned. If you lose, then you only lost $100. If you place the same bet on a bigger bubble, then you will definitely earn less than $510.When is the right time to use this tool?
It would probably be best to use this tool on assets you are more knowledgeable in. The more you know about the asset and how it moves, the better the chance of you placing the bubble in the winning area of the platform. It would also be ideal to use the platform when the market is more predictable and in a steady period, where the trending line is more consistent.Should new traders use the platform?
Since the Bubble platform is a bit riskier than a traditional binary option trading platform, it january not be ideal for new traders to use. It january be more beneficial for a new trader to get their feet wet in the traditional platform first before jumping into the Bubble platform pool. On the other hand, if the new trader has great knowledge in asset trends, strategies, etc. and feel comfortable in using the platform, then they january find some luck. But it should probably be advised, for any trader really, to make smaller bets and/or create big bubbles first and start slow before taking riskier chances. Overall, Anyoption’s Bubble platform is an innovative tool that will create a new frontier in the world of binary option trading.Funding and withdrawals in Nigeria
Local rails here are local bank transfer, card and crypto; CBN limits on foreign card spending affect funding. Deposit method decides whether money can come back out: card payments carry a chargeback route with a time limit, transfers to an offshore entity generally do not. Confirm the withdrawal method, minimum, fee and stated processing time in writing before funding an account. Profits are generally taxable, with FIRS the relevant authority.
Brokers accepting Nigerian clients
Ranked by our published methodology, which weights licensing at 35% — on an unsupervised counterparty every other quality is contingent. Ratings are derived from the sub-scores, not assigned.
| # | Broker | Rating | Entity holding your funds | Min. deposit | Payout | |
|---|---|---|---|---|---|---|
| 1 | Deriv | 7.9 | Deriv (BVI) Ltd / Deriv (V) Ltd | $5 | up to ~95% on synthetics | Visit |
| 2 | IQ Option | 5.1 | IQ Option Ltd (international) — unregulated | $10 | up to ~95% | Visit |
| 3 | Pocket Option | 4.7 | Gembell Limited (Comoros) | $5 | up to ~92% | Visit |
| 4 | Quotex | 4.6 | Awesomo Ltd — unregulated | $10 | up to ~98% | Visit |
| Regulated alternative — does not offer binary options | ||||||
| — | Exness | 8.8 | FSCA (South Africa) — ODP · FSP 51024 | $10 | n/a — CFDs and FX only | Visit |
Advertiser disclosure: buttons marked ad are affiliate links and earn us a commission if you open an account. The others do not. The ranking is derived from the published sub-scores either way, which is why the highest-rated provider here is not the one that pays us.
Risk warning: binary options are high-risk speculative instruments and most retail accounts lose money. Nothing on this page is investment advice or a recommendation to trade.