Frequently asked questions
How money moves, what we charge, and how a market is settled. If your question is not here, email Support@vectamarkets.com.
Adding and withdrawing money
How do I add money to my account?
By bank transfer. You choose an amount, and we give you a bank account number to send it to along with the exact figure. Transfer that amount from any Nigerian bank app or by USSD, and your balance updates on its own, usually within a minute or two of the money landing.
Why do I have to send the exact amount?
The account you are given is created for that one deposit and for that exact figure. If a different amount arrives, our payment partner sends it back to the account it came from rather than crediting it. The screen shows the amount with a copy button so you can paste it into your bank app.
The account number expired before I paid. What now?
Nothing is lost. Each account is only open for a short window, which the screen counts down. If it closes before you transfer, start the deposit again and you will be given a fresh account. Do not pay into an expired one — that money is returned to you rather than credited.
What is the smallest amount I can add or take out?
The smallest deposit is ₦1,000. The smallest withdrawal is ₦2,000.
How do I withdraw?
From your wallet, to a Nigerian bank account in your own name. You need a confirmed email address and a verified identity first. Each request is reviewed before the transfer is sent.
Why do I have to verify my identity to withdraw?
Because we are a licensed operator and Nigerian law requires us to know who we are paying. It also keeps one person to one account. Verification takes about a minute and asks for a BVN or NIN.
Can I withdraw to somebody else’s bank account?
No. Withdrawals go to an account in your own name. We check the account name before the transfer is sent, which also protects you from a mistyped number.
Trading, prices and fees
What am I actually buying?
Shares in one outcome of a question. Every winning share pays exactly ₦1 when the market settles. Losing shares pay nothing.
What does the price mean?
The price is the market’s estimate of the chance. A share at 42 kobo means the market rates that outcome at about 42%. Buy it and you receive ₦1 if it happens, so the cheaper you buy, the more you make when you are right.
What do you charge?
A commission of 1.5% on the value of each trade. It is shown as its own line before you confirm, on both buys and sells, so the total you see is the total you pay. There is no fee for holding a position, and no fee for a market settling.
Can I sell before the result?
Yes, at the price at that moment, for as long as the market is open for trading. You do not have to wait for the outcome.
Why did I get fewer shares than the price suggested?
Because your own buying moves the price. The quoted price is where the market starts, and a larger order walks it upward as it fills, so you pay an average rather than the starting price. The panel shows the exact share count and cost before you confirm, and you can set a maximum price so a trade is refused rather than filled higher than you wanted.
How markets settle
Who decides the result?
Each market names the source it will be settled against before anyone trades on it. When the answer is known, one of our staff proposes the outcome against that source, and a different member of staff has to confirm it. One person cannot settle a market alone.
Can a result be challenged?
Yes. Between a result being proposed and it being final there is a waiting period of 48 hours, during which the market is visible as resolving and the proposal can be corrected. Payouts only happen after it closes.
What happens if a market cannot be settled fairly?
It is voided. Everyone gets back what they put in, and the commission charged on those trades is refunded too — a void means the market should never have run, and you should not pay for that.
When am I paid?
As soon as the result is final. Winning shares are paid at ₦1 each straight into your balance, and you do not have to claim anything.
Your account and staying in control
Can I limit how much I deposit?
Yes. Set a daily deposit cap from your wallet. Lowering it takes effect immediately. Raising or removing it waits 24 hours, so a limit you set in a calm moment cannot be undone in a heated one.
Can I take a break?
Yes. You can block trading and deposits for 24 hours, 7 days, 30 days, or permanently. A break cannot be shortened or undone once it starts. Withdrawals stay available throughout, so your money is never locked away from you.
Who can use VectaMarkets?
You must be 18 or over. Prediction markets carry risk and you can lose what you stake, so only trade with money you can afford to lose.
How do I get help?
Email Support@vectamarkets.com and a person will answer. For anything legal, including data requests, write to legal@vectamarkets.com.
More detail
How it works walks through a trade from start to finish. Terms of Use and Privacy are the binding versions of anything summarised here.