How to make money trading Binary Options in Nigeria

Making money in Nigeria from the comfort of your home is gradually increasing thereby providing youths or anyone who is interested in getting some little extra cash without affecting his or her day job. One of the most common way of getting this extra cash is by trading Binary options.

 What is Binary option?

This simply requires you to choose one or more currencies, commodities or securities and then place a trade on whether the share of such trade you’ve selected will appreciate or depreciate in value. This thus gives you an assurance of making a 50/50 chance of either making profit or loss on every single Binary options trade you place.

With the economy of Nigeria currently fluctuating, a lot of Nigerians are sourcing for dynamic and yet new ways to make money. Binary options provides Nigerians the chance to get more money if they properly place their trade at the right time and also with the right company as both are quite important if you’re aiming to make a decent amount of money in Binary options trading.

STEP BY STEP GUIDE TO MAKING MONEY WITH BINARY OPTIONS IN NIGERIA

  1. CONSIDER THE BEST BINARY OPTIONS BROKER

Their are various brokers to choose from when it comes to making decision on which broker company to go with. Here is a list of Brokers we’ve carefully analyzed and we strongly advice you to trade with them as they accept and welcome binary options traders in Nigeria.

  • Binomo
  • Race option
  • IQ option
  • Highlow
  • Marketsworld
  • Binary.com
  • Olymp trade
  1. KNOW THE BEST TRADING PLATFORM

Knowing the best trading platform is very helpful as it will guide you in choosing how safe your money is and will be. There are different platforms for trading some are advanced others are pure basic, but if you happen to fully master the platform you are on by studying the techniques behind it, then you sure will be able to take advantage of other advanced features and therefore move to the advanced trading platforms.

Please note:- Don’t let greed drive you to going straight to the advanced platforms, start from the basics and understand it very well.

  1. KNOW THE BEST PAYMENT OPTIONS SUITABLE FOR YOU

The best banking option for you varies and is also dependent on the amount you wish to deposit in order to get paid your profits at a particular trading site. As a Nigerian it is highly recommended to choose the best banking option that does not require you to pay additional charges or change it to a particular currency before trading. Taking time to choose the best banking options can help prevent you from incurring charges and fees when depositing, trading or withdrawing.

  1. TRADES TO PLACE FIRST

It is highly recommended to place trades on companies with low risk. While surfing on the Binary options trading sites you will come across different offers, but we strongly advise you to still stick to the low risk companies and avoid exotic trading opportunities especially if you are a first time trader. You can also take advantage of the sign up bonuses as most sites when registering offer you these options but we strongly advice you to read through the Terms and Condition before signing up.

  1. START TRADING WITH A DEMO ACCOUNT

It’s advisable you make use of a Binary Brokers demo account before trading with real money. By doing that you will be able to get a lot of experience concerning trading with no risk attached and when you’re fully ready you are free to switch to trading through real money trading account.

  1. GET USED TO THE SYSTEM

Dedicate time to get familiar to the system and also perfectly understand it.A better understanding of how a Binary options trading platform works will boost your chances of trading.

  1. KNOW WHEN TO CASH OUT

Keeping a close eye on your investment will go a long way in helping you keep track of when to withdraw your money in order to avoid loosing it. If you notice their happen to be a downward fall in the company’s market try to cash out your money as if not quickly cashed out could result in loosing everything.

Experts have over time employed techniques to help you make money online with Binary options in Nigeria, Here are two essential tips to consider :

  • Always be informed on the recent rise and fall of your invested company’s market stock and exchange value. Economic and Political factors also contribute to what influence the stock.
  • Keep reading and understanding the charts as they show you the fluctuation of prices of assets in the financial market.Therefore with this knowledge you can easily understand and track the slight changes in the charts that can increase your profits or otherwise.

With these guide you are definitely on the right path if you follow it step by step and also take your time to research more, then you’re surely on the right path to success. The internet can be your money making machine only if you are wiling and ready to invest in Binary options trading.





About RAPHEAL