Business
5 Best Binary Options Brokers in Nigeria

If you are looking for a simplified investment strategy, look no further than that offered by binary options brokers in Nigeria. However, it might be challenging to locate the top binary options trading platform in Nigeria.
Therefore, we have compiled a list of the best forex brokers in Nigeria that offer binary options so that you could invest in Binary Options and Digital Options from the comfort of your own home.
Nadex
Overview
Nadex, which is one of the best binary options brokers in Nigeria, is licensed by the Commodity Futures Trading Commission (CFTC), is the biggest binary options exchange in the United States and allows traders to speculate on currency pairs, commodities, and stock indices.
When compared to other online brokers, the platform’s user-friendliness and commission rates are quite impressive.
Pros and Cons
PROS | CONS |
Nadex is fully regulated and offers user-friendly trading platforms | CFD trading is not supported |
Nigerians can expect powerful trading tools | There is a limited range of forex pairs |
There is a range of tradable asset classes | There are limited funding options |
BinaryCent
Overview
Exchange-traded foreign currency contracts provide the backbone of the BinaryCent trading platform. BinaryCent is one of the best options for best forex brokers in Nigeria. Trading binary options with forex as the underlying asset is a little different from other trading platforms.
Since the lowest investment required by BinaryCent is merely 41 NGN, the platform is gaining popularity among traders.
Pros and Cons
PROS | CONS |
Easily accessible to traders from around the world | There are no trade signals offered on the platform |
There is a plethora of educational materials | |
BinaryCent offers 24/7 customer support |
IQ Option
Overview
As one of the most prominent online options brokers, IQ Option is headquartered in Cyprus and is one of the best forex brokers in Nigeria with binary options. With customers in over 213 countries and 43 million registered users, they handle over 1 million deals daily.
Pros and Cons
PROS | CONS |
IQ Option has one of the best mobile apps for Nigerian traders on the go | There is a limited selection of markets offered |
There is a demo account offered | |
The app and platform are accessible and user-friendly |
?Open a Free Trading Account Now
Binary.com
Overview
Because of its long history in the industry, Binary.com has a solid reputation. It was created in 1999. Across a million people all over the globe have signed up as members.
Binary.com sets itself apart from other brokers by giving you access to a wide variety of trading platforms, including the popular MT5, the innovative Binary Bot, and the versatile SmartTrader.
Pros and Cons
PROS | CONS |
Binary.com accommodates beginners and experienced traders | Some offerings are not considered legal in many jurisdictions |
There is a choice between different platforms | |
There are several rare options not allowed by other brokers |
RaceOption
Overview
Since its founding in 2014, this binary options broker situated in the United Kingdom has processed over 10,000 transactions a day on average.
They provide outstanding CFD trading features, such as live charting and rapid trade execution, on a platform that is accessible from any computer or mobile device.
Pros and Cons
PROS | CONS |
RaceOption accepts traders from around the world and offers great liquidity | There is an extremely high minimum deposit |
There are several funding options offered | |
There are bonuses up to 100% offered |
Conclusion
Binary options trading is a convenient method to supplement your income without taking on the standard market risk. However, Nigerians should approach with care since binary options are dangerous despite their seeming clarity.
FAQ
What are Binary Options?
Binary options provide two potential outcomes: a preset profit or losing your investment.
Are Binary Options Brokers Regulated?
Several market regulators oversee several binary options firms, but many brokers are unregulated.
Also Read: Why Forex Trading Is So Popular
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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