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 2013, 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.
Ikkotrader Overview
Trading Instruments
Ikko Trader is leading in the market of French binary options. Moreover, the company provides platforms for trading in foreign financial markets, such as indices, forex, derivatives etc. The company also deals in trading of oil, gold and silver. Ikko Traders provides the option of investing through option builder, 60 second option and one touch trading platform. The company is also popular for its unique trader packs that are designed to cater to the needs of different types of investors. Infinity Pack, Platinum Pack, Black Pack and Golden Pack are the four types of trader packs, each offering different risks, returns and bonuses.Ikkotrader Software
Ikko Trader is a 100% web based company and does not require any additional software. The company offers the option of downloading the Ikko toolbar, to further facilitate trading through Ikko Trader. However, installation of this toolbar is optional, and does not affect the registration or trading cycle of the user. The company also provides a mobile trading platform application that enables its users to trade and check the status on their cell phones.Deposit and Withdrawal
Ikko Trader allows deposits and withdrawals through Moneybookers, PayPal, Western Union, credit card and wire transfer. Minimum deposit amount is $200 or €200. In case of credit cards, the trader is not required to pay any additional charges. However, wire transfer incurs a bank processing fee of $25. Moreover, deposits or withdrawals through money transfer agencies january cost the trader a specific percentage in terms of commission.Bonus and VIP Program
Ikko Trader offers some incredible bonus and VIP programs to its traders. New user enjoys a bonus of at least 25% on their first deposit, whereas the already registered members january earn up to 100% bonus, depending upon their account and its features. The company has also launched a VIP Ikko Trader Club that creates customized trading programs for its traders. As part of the VIP program policy, traders receive bonus on monthly basis according to the type and average volume of their account. Ikko Trader has come up with some innovative bonus programs for the new entrants. These include ‘refer a friend’ bonus, insurance bonus and E-pin bonus, as per which a trader will receive a bonus of € 100 upon adding IkkoTrader e-pin to his Facebook account.Customer Support
Ikko Trader has 24/7 customer support service in more than 7 languages, including German, English, Portuguese and Spanish. Assistance is provided through different means of electronic communication, depending upon the availability and convenience of the trader.Pros
- VIP Club
- Bonus Policy for new traders
- Demo Program
- Innovative Bonus programs
- Current members january earn up to 100% bonus
- 24/7 live support service
- Mobile trading platform application
- 10% return in case of off-target predictions
Cons
- None
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.