FAQ – Trading Questions and Answers

Even though it has recently started to get popular among the populace, many are yet to figure out what Binary Options are and how they could be used to make some excellent profits on the side. Binary Options come with a wide range of opportunities and features, allowing people to place their trades on a variety of company share values or trading options, which can all be done as soon as a trader decides to start trading Binary Options.

Our website continues to grow, and we keep adding more content with time. This time, we have come up with a section which is going to answer your most frequently asked questions which are going to help anyone based in Nigeria who is new to the term “Binary Options Trading”.

This section was designed to give you a detailed and reliable set of answers to the most commonly asked questions. However, if you feel this section lacks the answers to some of the extra questions you may have, you might want to check the rest of the website out, as we have made sure the entire site stays rich with information that is updated and diverse. We hope that in case you fail to find your answers in this particular section, you are sure to find it in the other respective sections of the site. Emphasis has been laid on questions regarding the overall functioning of Binary Options and how one can get started with their career as a binary options trader.

1. What is the age requirement to become a Binary Options trader and trade eligible?
Traders are required to be at least eighteen years of age before they can get started with their binary options trading careers. No Binary Options trading sites accept traders who do not meet the eighteen-year-old age requirement. Once you reach your eighteenth birthday, you will be eligible to use all binary options trading services and features.
2. What sort of trading platforms can a trader expect?
The kind of trading platforms you can expect depends on the binary options broker you go for. There are going to be platforms which are rather simple to use and are completely designed to suit your basic online trading needs, with a structure that is easy to understand. There exist more advanced platforms as well, which offer many more extra features, allowing users the freedom to customise the platform to suit their own needs and hence, come up with their new strategies. Traders can also expect trading platforms specially designed for mobiles, which can be accessed on all major tablets or mobile phones to trade on the go.
3. Will I be able to create a demo account?
Our site contains a list of featured Binary Options trading sites, all of which are known for offering new traders with a free demo trading account. Therefore, if you choose any of the sites mentioned in our featured lists, you can expect a demo account to begin with. This demo account can be used to place trades just like you would using a normal account, however, with no real money or risk involved. You receive demo credits for your demo accounts, using which you can learn to trade before you officially begin.
4. How much time do bonuses take to get credited?
The amount of time taken for bonuses to show up in your account once again depends on the Binary Options trading site you are associated with. While some binary options trading sites may instantly credit the bonus amount into your account, some may require a while before they credit you the customer sign up welcome bonus. Some brokers may automatically do the job of crediting the amount, while some may require you to manually complete the formalities to credit the bonus amount. Hence, we recommend that you go through the terms and conditions documents carefully before you pick your trading site, thoroughly reading through the information regarding how to claim your bonuses and credit them into your account, as it varies from site to site.
5. How long will I have to wait in order to receive the profits I make on my Binary Options trades?
Most of the time, the time is taken to process withdrawals ranges from between 24 to 48 hours from the time of sending your withdrawal application at any of the brokers featured on our site. However, there can be binary options brokers who may take several days or even weeks, sometimes even months to process your withdrawals and you seriously don’t want to stick around with those. Hence, we recommend you to take a quick look at our featured binary options brokers and choose one of them if you wish to receive your cash outs rather fast and hassle-free.
6. Is it hard to use the binary options trading platforms?
Most of the good brokers try to make sure their trading platforms are as user-friendly as possible. Moreover, in most cases, you are always going to receive a demo account, to begin with, which you can use to get used to the platform you are going to be used in the future. By the time you invest your actual money, you could easily get the hang of the platform as it is not hard to learn how to use it. However, the features offered by each trading platforms may differ, so we recommend you to try several platforms out before you settle down with one.
7. Can I place multiple trades at a time?
The answer is yes, you are allowed to place as many trades as you wish to at the same time with Binary Options, whenever you deem it fit. All the brokers featured on our site put no restrictions on the number of trades you can place at a time. Moreover, you also get a wide range of trading options to choose from. So you are sure to get complete control and place as many trades as you wish to at a time. All you have to do is find the right broker that suits your needs.
8. What are the available banking and deposit options?
There exist some deposit and banking options, including but not limited to credit and debit cards, a wide range of e-wallets, Western Union and Bank Wire. The same methods can be used to make your withdrawals from these sites.
9. Does Nigeria permit Binary Options trading to take place legally?
The answer is YES. Nigeria accepts binary options trading, which gives you the freedom to place any number of trades as you wish to at any point of time as long as you meet the age and money requirements!
10. How will I figure the most profitable trades for myself?
Experience is the key. The more experienced you are, the better the strategies and trade choices you will be able to come up with. Always stay up to date with the latest information regarding the rise and fall in values, news stories, and simply any financial news related to your preferred trading option and asset. It is all going to help you make better trading decisions. With time, the experience is going to make you an expert, allowing you to learn your trades much better.