24Option Trading Guide
Learn Everything About Trading at 24Option – Full Review
I have updated this review for 2016. 24Option.com has remained our top rated international binary options broker since 2011. As many readers of BinaryTrading.org already know, 24Option (www.24Option.com) is one of our favorite binary trading brokers. We decided that it was time to do an in-depth trading guide and walk through review of trading binary options at 24Option.com.
Let’s get started. Last Updated 12/16/16
Risk Disclaimer: “Trading Binary Options involves substantial risk and may lead to loss of invested capital”
- Competitive returns on successful trades for currency pairs
- 60 second options, 2 minute and 3 minute ‘short term binary options’ available
- Early close feature available
- Low deposit minimum ($250)
- Positive reputation
- Scipio trading platform
- Demo account available with initial deposit
- Minimum trade is $24 (high compared to TradeRush of only $5)
24 Option Home Page Screen Shot
Step 1: Account Creation
The first thing you will need to do is to create an account. Creating an account is simple, painless and takes just a few moments. It is also completely free. All you have to do is enter your name, email, phone, country and which currency you will deposit and withdraw with. You do need to use your real information. It would be a good idea to create or use an email account that you keep specifically for your binary option trading. In addition, before trading you should first fully verify your account. Before proceeding with the deposit however you will need to fully verify your account by providing your documents as well as fill out suitability forms.
Step 2: Funding Your Account
Deposits are fast, easy and secure. I deposited with a Credit Card. They accept all the major credit cards except American Express and Discover. They offered bank wires, MoneyBookers and Liberty Reserve for deposits. The only payment method they did not accept that would be nice is PayPal but that is more to the stance of PayPal.
Step 3: Setting Up A Demo Account
Once you fund your real money account, the support staff at 24option.com is more than happy to create a practice account that you can demo trade fake money with. To get your demo account you can click on the ‘Live Chat’ button at the top of your screen. The following screen pops up:
Click “Live Chat” (top left of home page)
It took just a few minutes for support to have my demo account created. They loaded my account up with $2500 in virtual money to trade with risk free. A few minutes later, I was ready to trade.
The best part is that I still had 100% of my initial deposit sitting in my real account, totally separate, that I could trade with or withdraw as I wanted. For now, I wanted to test out the trading platform and see what my choices are.
Trading Binary Options On The 24Option.com Trading Platform
Risk Warning: “Past performance is not a reliable indicator for future results”. Click on the 24 logo and it takes you to their home page. You will see a list of binary options to choose from listed in a chart in the main part of the web page. On the right is a tab where you can follow any of your open trades. Let’s walk through the different binary option choices available. Here is the screenshot.
You can see where I took screenshots of the entire process with my how to trade a binary option online guide. (Source)
High / Low Options
The high or low option are the most common binary trade available. Up or down, call or put. Let’s take a look at the GBP/USD up or down option.
I chose ‘High’ and risked $100 virtual dollars. My return is listed there at $185 if I am correct that the price finishes above the target price of 1.58573. I lose my $100 if I am wrong.
This trade actually finished out as a ‘push’. The target price is exactly what the option expired at. In this case I get my $100 risk back and the bet is a push. Touche 24option!
60 Second Options – Fastest Trades Online
Hold on to your hats if you want to trade 60 second options. These trades are fast and furious.
Trading Features Available
Hats off to the team at 24Option. It is no wonder they are considered one of the best, if not the best binary options broker online today.
- Early Close Option Is Available – This is huge. You can close your trade early and lock in a profit or minimize your losses at 24option. It gives you a way to minimize losses and lock in some profits. While your real money trade is on going, there is a constantly changing price that the broker is willing to close at. If you are winning the option, the price goes up and up and up. If you are losing the option, the price goes down and down and down proportionally.
- Expiry Times – 60 seconds, 5 minutes, 30 minutes, 1 hour, daily
Are They A Good Broker? – Trusted, Legit, Regulated and Reputable?
There are many traders who will only trade binary options at 24option because of their reputation. Now, a broker is only as good as their latest trade, however 24 option has one of the better reputations in the industry. They are trusted overall by most traders. They are in the process of regulation. They seem legit and reputable, and are were we would trade ourselves.
They offer excellent binary option options, have extremely competitive returns, especially on forex binary trades. They have exit early and the minimum deposit is only $250. Traders from Europe, UK, and many middle eastern countries are accepted.
I hope you enjoyed this walk through of 24Option binary option broker. If you feel more comfortable about making the leap to trading binary options there is hardly a better choice for you to start out with than 24Option.
Visit www.24Option.com today and start trading on binary options!
Risk Disclaimer: “Trading binary options is not suitable to all types of traders, involves substantial risk and may lead to loss of all invested capital”