Binary Options trading in Nigeria, What do Nigerians think about it?

Nigeria is an asset yet to be exploited by the investment sector like the forex market and binary options.

Many Nigerians are willing to invest their money in both binary options and forex trading but the most important drawback is the lack of adequate skills to carry out these modes of trading.  If acquisition of these skills were easy to come by, most Nigerians would be investing in stocks, commodities, forex and binary options online.

While there are many online tutorials and guides that can inculcate these skills to beginner online investors in Nigeria, many Nigerians seem to prefer a one-on-one tutorial.

Let's get back to the main topic of the day, “binary options and the average Nigerian trader's view of it.

Binary Options trading in Nigeria, Interviews of Nigerian traders

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Some weeks back, i was discussing with a friend (who lives in Abuja, Nigeria) of mine who i disclosed to me his mindset about online investments in Nigeria especially options.

Briefly, he (name withheld) is a beginner in online investing, and didn't fully learn about binary options and yet, decided to try it out because of the sweet stories he's been hearing about it. After he funded his account, he started trading and thought he would make money with the normal “call and put” as the professionals call it.

But he met his doom as his entire account was wiped off because he didn't weigh his risks against the rewards. After that, he now decided to switch to forex trading. End of story, let's stop here abeg.

After i questioned several other traders in Nigeria about what they think of binary options. This was the general response i got, “It is scam, you can't make money trading binary options especially from Nigeria”.

That response was made by about 120 traders i interviewed out of 150 total traders. That is to say that approximately 80% of Nigerian traders i interviewed thinks that binary options is scam.

I couldn't believe my report and it came as a shock because i make monthly incomes via binary options trading. I will tell you how i do it in a short while.

Out of the 80% of traders i interviewed, 40% have switched to binary options' close alternative, forex trading while the remaining 40% have quit online investments entirely.

My further research proved that the traders that didn't make it with options trading were those that lacked the right information about options trading in Nigeria.

Though binary options trading is the same worldwide, i specify Nigeria in this case because am targeting a Nigerian audience.

You Can Also Read: Option Bot 2.0 Review

Those that quit binary options are simply those that thought it was a mere call and put. If you think that way, then you are just gambling with your money because it is beyond call and put. (Sorry to interrupt but if you're new to binary options trading, please read this article.

To cut the story short, you can trade binary options successfully as a Nigerian and generate monthly incomes with it as well.

Solution to “Binary option scam” in Nigeria

If you don't already have a binary options broker account, please register an account with 24Option as that is the best broker i can recommend for Nigerians now.

If you don't know how to trade  options or you're still a beginner, there's no point gambling with your money. It's best to use a binary options signal provider you can trust always.

Both professionals and beginners alike use this software to create massive wealth online trading binary options. You too can do it.

It's a software that costs $200/month to acquire and i can tell you that it's worth that price.  I've also recommended the software to the Nigerian traders i interviewed and those that got the software are starting to see nice returns on their investments.

I know that many traders from Nigeria may not be able to afford that kind of money to buy just a software for trading.

Please and please, if you're not able to buy this software and you know you can't trade binary options on your own, please don't invest your money in binary options unless you want to lose all.

Instead, you can start trading forex.

Trading forex instead of Options in Nigeria

It doesn't matter if you're a beginner in forex trading because many newbies, even dummies don't need to learn forex before trading. Today, forex trading is as simple as a,b,c and no special skill is required to trade.

If you are interested in forex trading from Nigeria and are still a beginner in forex, you need to have a forex signal provider for your broker.

A forex signal provider is either an organization or individual that gives you suggestions on the correct time to enter and exit the market for profits via various means like SMS alerts, email notifications, auto trading and others.

The best part i like about forex trading is that some individuals are willing to give you free accurate signals daily to enter the market. A quick search on google for “forex signals” will up bring millions of results of which majority of them that are in the first to 3rd pages of google are real.

Out of them, I've selected a free forex signal provider that can help you maximize profit as a Nigerian at zero cost. The name of the free signal provider is Zulutrade. You can learn more about zulutrade here.

When signing up for the Zulutrade service, you can use one of two possible forex brokers for Nigerians.

You can either use AAAfx broker or Nordfx. Both Brokers are Nigerian friendly. But the demerit of using AAAfx is that you can only fund your account via wire transfer from your domiciliary account in Nigeria while the merit is that they provide the lowest slippage and spread possible making it possible to trade swiftly with Zulutrade. This is mainly because AAAfx are the owner of Zulutrade.

On the other hand, the demerit of using Nordfx or any other broker apart from AAAFx is that the slippage and spreads can be quite high. The advantage of using Nordfx is that you don't need a domiciliary account (popularly called Dom account) to fund your Nordfx account as you can fund with other payment processors like Perfect Money or Webmoney.

Please follow this step by step guide to register your Zulutrade account.

Your questions and suggestions are always welcome.