Binary options trading is a fairly easy field to grasp and having a general idea of binary options basics is enough to get you started – at least until you learn more about the markets, the different assets and the trading strategies available.
An introduction to binary options and the trading process is very helpful before you get started. First and foremost the basic rule is that a binary option could go either up or down. You just pick an asset and decide whether its price is going to rise or fall. This underlying concept is actually as simple as it sounds.
Once you do that, 24Option, the leading broker in the industry, will let you know the expected return percentage on your investment. Then, you select the amount you want to invest and your option’s expiry time. So what exactly are you trading in? Binary options allows you to trade in an array of assets including major currencies, commodities, stocks and indices. You can trade as many different assets as you like all while using the same broker and the same platform. 24Option is a great example of a one-stop-shop for all your trading needs.
There are three major trade types that you should be familiar with. The first and most basic one is the high/low one, which asks you to decide if an asset price is going to go up or down.
The next type is the one touch trade. Here, a target price is set from the get-go and if the chosen asset reaches this price until the option’s expiry, your investment will be profitable.
The third type is the boundary trade where you are given a range of prices by your broker and it is up to you to decide whether your chosen asset’s price will end up being within this range or outside of it.
Now that you got a quick binary options review, how do you get off the ground? You start off by making the needed initial deposit. Then you set up an account and you are basically good to go. Serious brokers, like 24Option, offer a comprehensive education center for traders with various data including videos, e-books and webinars designed enrich your understanding of the field.
If you want to make money with binary options, expanding your knowledge and enhancing you skills is of the essence. You can perfect your abilities with 24Option’s free, live webinars, conducted by top experts. Also at hand are 24Option’s trading e-book, which will teach you how to successfully trade binary options using 24Option’s incomparable platform, and 24Option interactive e-book, that goes a little deeper and covers topics such as trading psychology, recommended strategies and more.
The financial industry is an exciting place, and binary options trading makes it that much more exciting. All the thrill of trading assets can be experienced in short term trades with high payouts and lucrative outcomes. However, not all binary options brokers are created equally, and picking the right broker is very important. As one of the leading binary options platforms today, 24Option offers its users an array of useful features, educational material, a wealth of assets and trading instruments, 24/7 multilingual customer support, and a completely safe and regulated environment to trade in. For a trader looking for a combination of security, profitability and excellence – 24Option is a great choice.