Binary Options Guide – Step By Step
Our main goal at 24option.com is to make binary options
trading accessible and easy for anyone to master. In order to make
trading binary options as user-friendly as possible we made this guide
to trading which will take you through our trading platform and
familiarize you with all the trading instruments available. Trading with
24option.com is easy and fast. With the help of this trading guide you
will understand the whole trading process. Once you master the trading
platform you can start trading right away and enjoy our excellent rates
of return!
Step 1 – Making a first deposit
In order to start trading with 24option.com, traders need to register
with the site and make a minimum deposit of $250 (or the local currency
equivalent). A deposit can be made by credit card or bank wire
transfers.
When registering with 24option.com, you will be asked to choose your
currency. Once chosen, your currency cannot be changed. Initial deposits
can be made in U.S. Dollars, Pounds Sterling or Euros. More
information on making deposits can be found on our deposits page.
Ready? start trading now!
Step 2 – Trading terminology and instruments
The 24option.com trading platform
Pressing the
trade tab located in the main navigation menu on the 24option home page
when logged in to your account will open the main trading window as
shown here:
The Trading window is comprised of three sections:
- Main Option List – lower left corner
- Trade Box – upper portion of screen
- My Open Trades – lower right corner
What is the Option List?
The option list section displays all assets available to binary
options trading at the moment. A customer can choose which type of asset
to display (indices, forex, stocks, commodities or all) in this window,
and in which order to display them.
The settings icon will open the full list of assets available for
trading. With the help of the pull down menu located at the top of the
option list, customers can also choose a specific binary option to view
as well.
The section includes:
Market:
- European Stocks
- U.S. Stocks
- Forex
- Commodities
Symbol:
- EUR/USD
- GBP/USD
- AUD/USD
- CAD/USD
- Gold, etc.
Expiry:
- Intraday
- End of the day
- End of the week
Ready to start trading now?
The Trade Box – A Detailed View
In order to get more details on an option you are interested in
buying, click on it and the trade box at the top of the page will be
opened as shown here. This screenshot of the trade box is an example for
a High/Low binary option on the GBP/USD:
The trade box includes the following:
Asset – the asset you chose to trade. Check the
asset index for the full list of assets available for trading at
24option.com at the moment.
Target Price – the price at which 24option.com is
selling the option. Target prices are dynamic and change often as do the
upper and lower boundary prices.
Market – The current market price of an underlying asset.
Graph – the price graph displays a chart of the
asset price and the time left for the option before expiring. Target
prices are also shown on this graph, as is the time left before this
option expires and a marked area showing the profit possibilities.
Return – the return percentage displayed on the top
right corner stands for the possible return on investment that can be
expected for this option if it expires “In the Money”.
High/Low – the High/Low buttons (or the “+” and “-“
buttons in the full trading window, respectively) simply mark whether
this option would be a high or a low one. All you need to do is to
decide in which direction the price will go and click on the right
button to determine your trade.
Expires – The time at which the option will expire.
Trading Closes – the hourglass countdown above the
graph displays the amount of time left for this option to live, before
it expires and can no longer be traded.
As you can see in the screenshot, the trade box displays recent
movements in the price charts related to the underlying asset on this
option:
Clicking on the appropriate button on the upper right corner of the
trade box will also display this information. It is possible to hide the
whole window by clicking the gray arrow on the upper right side of the
graph.
Clicking on the “High” or “Low” buttons will mark the area relevant
for the judgment you made on this option. The graph will demonstrate
whether your option is “In the Money” or “Out of the Money” in real-time
until it reaches its expiry time.
Step 3- Choosing an Option instrument
There are three types of trading instruments available to you on
24option: the classic High/Low instrument, the One Touch and the
Boundary as shown here:
To select the instrument that is right for you, click one of the
demonstrated instruments right from the trading window. For further
information read more about these trading instruments in our Binary Trading section.
After choosing a type of binary option you would like to trade, the
platform will display only the options relevant under the type of
trading you chose, as the screenshot shows:
Check out the trading platform
here
Step 4 – Buying and trading a Binary Option
If you want to buy an option on a certain chosen asset use the trade box as explained above and follow these instructions:
- Take a look – first of all, choose the desired trading instrument
(High/Low, One Touch, Boundary or 60 Seconds) and examine a few chosen
options on the trade box. Take a look at the details and learn them.
- Choose the right option for you – after checking out a few options
in the trading box, choose the one that you would like to purchase.
- What is your prediction? After choosing an option you need to make
your prediction regarding this option. For example, if you chose the One
touch instrument you need to choose between pressing the “Touch” or “No
touch” buttons.
- What is your investment amount? Type the amount you wish to invest
in this option. Please note that the investment must be more than $24
and less than $20,000. For more information on our investment policy and
investment strategies, please see our binary options strategy page.
- Buy – after placing the amount of investment in this option, simply click the “Buy” button in order to start the trade.
After completing the process of purchasing a binary option
successfully, a trade confirmation will be shown to you on the platform,
telling you the transaction has been completed.
For more strategies
click here to see our trading videos.
“My Open Trades” window
At the right side of the trading platform you can check on all of
your open trades, visualized in the “My Open Trades” window. All options
displayed in this window are live and have not expired:
Each option you purchased might look different, as shown on the
screenshot above. Here are explanations for the symbols that can appear
on any of your open trades, depending on the trading instrument you
chose:
High/Low and 60 Second Binary Options:
= High Binary Option
= Low Binary Option
One Touch Binary Options:
= One Touch Option
= No Touch Option
Boundary Binary Options:
= In Boundary Option
= Out Boundary Option
Trade details: This is the amount invested in each option you purchased and the asset you chose to invest in.
Target: The target price for the option you own
stays the same once the option has been purchased. The only instrument
that has two target prices is the boundary, with an upper and a lower
boundary.
Market: The market price for the option you are
purchasing based on the data feed as delivered to 24option.com. The
target price depends on the market price of an asset and changes
accordingly.
Expiry: The day and time at which this option will
expire and can no longer be traded. Up until expiry, all of your open
options will be displayed on the “My open trades” window.
Colors: As you probably noticed, the market prices appear in three
colors. Each color has a different meaning as listed below:
- Green: your option is profitable and is “In the Money”
- Red: your option is not profitable and is “Out of the Money”
- Blue: your option stayed at its exact purchase price and is “At the Money”
If you wish to check more details on your open options, just click
the asset symbol which will open the main trade box for this option.
Just like opening an option from the main trading window, all of the
information you need about this option will be displayed as explained
above. In addition, once you have purchased an option you can follow its
movement on the graph which is updated in real-time, up until its
expiry time.
Once an option is purchased you will be able to see from the trade
box the exact expiry, the market and target prices, your transaction ID
(the number of the specific deal), the time of purchasing, your
selection (high or low), the invested amount and the return that will be
made if your prediction is correct. All the parameters are explained
below:
Transaction ID: The number of this specific deal related to the option you invested in.
Purchased at: The exact time and day that this option was purchased.
Your Selection: The type of option you chose: High/Low, One Touch/No Touch, In Boundary/Out Boundary, or 60 Seconds.
Invested Amount: The investment made in this option.
Expires (Above/Below, Inbound/Outbound or Touch/No Touch): Presents the exact amount of return expected if this option is proven to be a profitable one, relative to the target price.
Expires: The time at which this option will expire and can no longer be traded.
Market: The current market price of the option you purchased, based on data delivered to 24option.com by the data feed.
Target Price: The price at which the option you
bought will be based upon. Please note that the boundary trading
instrument has both upper and lower target prices.
Close At: This is the price that you can close your
option at, if you choose to do so. Only some of the options allow you to
close them before they expire.
More on early option closures
As indicated above, some options can be closed before their expiry
time, regardless of whether they appear to be “in the money” or “out of
the money”. If an early closure is available for the option you
purchased, it will appear in the trade box. Please note that this
feature is not always available throughout the lifetime of the option.
When an early closure is relevant for an open option the price bid
offered by 24option.com will be presented in the trade box. The price
will change according to other parameters such as the time left for this
option to live, the prices at the market and so on. Once the button
“close” is clicked, the option will be closed at the exact price noted.
To learn more about the benefits of early closures and other tools.
My Account – Everything you need to know about how to operate your account
Opening your account is easy. Just click on the “My account” button
from the home page and you are in. Of course, access to this section is
for registered members only. Your account has five different tabs as
explained below:
Account Summary tab:
The Account Summary tab contains the following details:
Customer Name: Your legal name as given to 24option.com when you registered with the site.
Your Account Cash Balance: The amount of cash that you have in your account at the moment which is available to you for trading or withdrawal.
Your Account Bonus Balance: The exact amount that you received as a bonus and is available for trading purposes only.
Total Cost of Your Open Positions: The total value of open investments that you have at the moment.
The Total Value of Your Account: The total value of your account which is the sum of the options you have open, your cash balance and bonus balance.
Open Trades tab:
This section can be accessed by selecting the Open Trades tab when at
the My Account Menu. This tab displays all the information relevant to
any open trades you might have:
Instrument: High/Low, One Touch, Boundary, or 60 Seconds.
Type: A mark that indicates which type of option you choose, as presented here:
High/Low and 60 Second Binary Options:
= High Binary Option
= Low Binary Option
Touch Binary Options:
= One Touch Option
= No Touch Option
Boundary Binary Options:
= In Boundary Option
= Out Boundary Option
Asset: The asset you chose to trade on this option.
Order #: The ID number of this option.
Buy Time: The time and day this option was purchased.
Target Price: The target price of the specific
binary option. If a boundary instrument has been chosen, upper and lower
target prices will be presented as well.
Invested: The amount of money invested in the option.
Expiry Time: The time at which this option will expire.
Return: The return expected on this option if it expires “In The Money”.
Refund: The amount of refund expected if the option expires “Out of The Money”.
Trade History tab:
This tab represents all of your past trades with full details of each
trade you made. You can choose to view your past trades ordered by
instrument type or by date. These filters are located in the top menu of
the tab. Your past trades can be printed out or saved as an Excel
spreadsheet with the help of the icons on the right side of the tab.
Account Details tab:
This tab includes all of your personal details as you declared when
registering. This data can be edited and changed according to changes in
your personal info at any given moment.
Change Password tab:
If for some reason you wish to change your password, this tab is
where you do it. In order to change your password you will need to type
in your old password and then the new one. After choosing your new
password you will be asked to confirm it before submitting.
This is the change password page:
Conclusions on how to trade binary options
Now that you have gone through all the stages of trading binary
options, you probably realize how easy and enjoyable it is. After
registering and reading our trading guide you can start trading today!
If you feel like you need more information on certain aspects or if you
need any kind of help please contact us or browse our site for an array
of useful information. You can start with the
Binary Options section and progress from there.
All these tools will help you progress in trading, increasing your knowledge and provide you with more profitable trading.
Trade digital options now and maximize your profit
Funding your account:
Banking
Banking actions like deposits and withdrawals can easily be made from
your trading account. In order to execute these actions, choose the
banking tab from the 24option.com homepage.
Deposits
Clicking on the banking tab will automatically open the deposit
screen. In order to make a deposit please follow the instructions below:
- Select the method with which you would like to make the deposit (located on the left side of the form).
- Fill in all the details needed. Please note that there are some
necessary fields marked with an asterisk. These fields must be filled
with the details requested.
- Please confirm the deposit by clicking on the deposit button. Once
the deposit has been approved you will be able to see it in your
account.
Withdrawals
Withdrawals can be easily made by choosing the banking tab from the
home page and right after that choosing the “withdrawal tab” from the
resulting tab on the banking page, as described below:
Step 1 – Type in the amount you would like to withdraw and click on
the “Next” button in order to proceed as the screenshot shows:
Step 2 – There are a few ways to withdraw your requested amount. If
it is to be returned to your credit card, simply finish the process by
clicking on the Withdraw button. If the withdrawal is to be made by a
different method like a wire transfer, continue the process by clicking
on the “Next” button and filling in all the details needed. After that
click on the “Withdraw” button and finish the process.
Pending Requests
In order to get to this page click on the “Banking” tab from our home
page and then choose the “Pending Requests” tab. Here you will find all
the requests waiting for approval. Here you can also cancel requests
waiting for approval.
History
If you want to view all of your banking transactions history like
deposits and withdrawals go to the history section by choosing the
“Banking” tab from the homepage. Then choose the “History” tab in order
to continue. On this window you will be able to examine all of your
banking transactions thoroughly. For example, you are able to filter
your history like this:
Action: filter your history by choosing the action you want to examine.
Date: filter your trading history by entering a date range.
In addition, you can sort all the columns in the History section according to these parameters.