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About 24Option
For people who enjoy partaking in stock market trading without having to do a ton of legwork and research beforehand, 24Option is clearly the binary options broker of choice. Eagerly adopting all the newest technology into its slick and well-designed Internet platform, this Cyprus-based binary options broker offers people everything they need to begin trading within moments of registering. 24Option is also known as Rodeler Limited and is traditionally based in Cyprus, but it has recently opened an office in London to better serve its British customers.
24Option is stringently regulated by CySec, ensuring that it remains one of the most legitimate binary options brokers within the market today. As an added incentive, 24Option offers some of the highest money movement limits in the industry too. With all of the aforementioned in mind, Lets delve further into what this binary options broker has to offer.
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Platform Features
24Option is designed to be as user-friendly as possible. While financial instruments are normally exceedingly complicated, 24Option makes this process simple and accessible to any person looking to perform binary options trading. It even has a mobile app that you can use at any time of the day or the night. 24Option gives you the ability to choose from a total of four different trading instruments that can expire anywhere from 60 seconds to over a week, depending on the asset that has been chosen. Payouts are considerably fairer than what other binary options brokers give too. If you are new to the process, 24Option provides plenty of binary option strategies to help get you started.
The trading platform here is certainly easy to use, as you can filter what’s on show down to something more specific, and it instantaneously updates your selections. The trading window is always kept visible and you can constantly monitor even the slightest change in prices 24 hours a day. Below the trading window is the “open trades” area. This section of the platform contains every trade that you currently have in place, as well as whether or not they are turning a profit. The price movements are constantly displayed as both the current and opening price, ensuring that you will always know if your trade is losing or gaining money. Sometimes you are allowed to cash out an asset at its current value rather than having to wait for it to expire as well, which really does allow traders to mix things up.
In addition, your complete trading history is displayed within the 24Option trading platform. This area of the site will give you a complete detailed history of every action you have taken with a particular trade. It also contains information relating to the movement of the markets, any trading alerts, a tab containing the market’s status for the day, as well as an economic calendar that will keep you constantly informed as to when any financial statements and/or market-moving economic data releases are set to go live.
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Trading Choice
24Option allows you to trade binary options on forex, certain indices/stocks, as well as base-level commodities. While the actual account options at 24Option are fairly self-explanatory, the type of binary options strategy you use breaks down into four categories:
- High/Low – This is the original method of buying and selling stocks. You are betting upon whether an asset rises or falls in value over a certain period of time.
- One Touch – This involves betting upon whether or not a given asset will reach a predetermined value at least once in a given time frame.
- Boundary – This is how people bet when the markets are flat. You bet upon whether or not a given asset will either stay within a certain range or “break out” of it before expiry.
- 60 Seconds – The type of trade that appeals to people looking for quick action. These binary options expire within a minute, generating either a very fast loss or a very fast gain.
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Mobile Trading
When it comes to the mobile stage, 24Option makes it easy to get started. Their mobile app is compatible with all Apple and Android devices, and it offers all of the features seen in their PC platform. If you are unsure as to how to download and use it, 24Option offers a full visual demonstration of their mobile app, complete with instructions.
What really sets apart 24Option’s mobile platform from the others is how easy it is for the average person to use. All of the displays and buttons are sized appropriately for the small-screen; as such I didn’t have a lot of trouble moving around the problem. All of your open trades are accessible at a moment’s notice, as well as the full trading history of each asset you have. 24Option balanced the app so that experienced traders will find much that they like, while making it easy for new binary options traders to get started. Binary options trading has quite frankly never been so easy, as the fact that the app is compatible with a wide range of devices is merely icing on the cake.
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Payout Percentage
Binary options trading is notorious for offering unfair odds to investors, at least that is general consensus anyway, but 24Option is very fair about the payouts it offers. The average return rate is a healthy 91%. While this varies considerably between assets and expiry, the big picture is that 24Option isn’t out to rip you off the way some other binary options brokers are. If you really want to partake in a “high risk/high reward” scenario, give the “High Yield” tab a glance.
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Withdrawal and Deposit Options
Binary options trading is popular all around the world in 2016, so 24Option has taken plenty of steps to ensure that its international audience has plenty of methods with which to deposit and withdraw funds. Because fraud is a concern in the industry, 24Option will make you submit a proof of address and a valid ID to confirm your identity. If you are using a credit card, you’ll need to provide documentation for that as well. Make sure that you have this information ready with you, because some people note that clearing times can be rather long if you haven’t done this before.
24Option offers a tiered form of membership that rewards traders who use their platform regularly. Gold and Platinum members can always withdraw funds for free, but regular account holders only get their first withdrawal for free. After that, the fee you pay is charged a percentage of the withdrawal. The exact amount varies depending on the method you use to withdraw funds (for example, Skrill charges 2% per withdrawal). The minimum deposit is set at 250 units of the currency you have opted to use – keep in mind that it can’t be changed once you select it. All deposits are made instantaneously, ensuring that you can begin trading binary options as soon as possible.
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24Option Final Thoughts
Of all the binary options brokers around, 24Option appears to be one of the best. Offering a great trading interface, fair odds, and plenty of documentation to get you started, anybody with a good binary options strategy and a bit of luck will walk away with more than what they started with. If you are concerned about the quality of the binary options broker you are using, give 24Option a try, it won’t leave you feeling disappointed.
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