Do you think 24option is a scam? Well not, because it is a legit binary broker and quite a favorite among its competitors. You may want to know as to why it is everyone’s favorite? The answer is because of fair dealings and healthy competitive payouts.
Off late, there have been lots of complaints questioning its authenticity. But by far it is one of the best binary trading options today. It has earned its reputation among the binary trading company.
What is Binary Trading?
In financial world, binary trading is a type of option wherein, when one wants a payout, either, he can get in some fixed monetary amount, which can also be in form of some prefixed quantity or nothing at all. Binary trading works two ways. The first one being, either you get cash or nothing type of binary option. And the other one being, asset or nothing type of binary option.
This works like this: If you purchase a stock of ABC Corp under the option of binary trading at $500 with a payout of $1000 and maturity or expiry date of 2 days. Now if after 2 days or date of payout, the stock is trading above $500, then the buyer gets $1000. On the other hand, if the stock is trading below $500, then the buyer gets nothing at all.
In reality, binary trading works in extremes. It is to be note that not all binary options are regulated. In case, they are unregulated, there are chances of getting duped and conned.
Did you know that in May 2012, the Cyprus Stock Exchange announced a policy change in relation to classify binary options as financial instruments? As a result of that many binary options platforms which were operating in Cyprus will have to get regulated within the means of Cyprus stock exchange within 6 months.
There are contrasting reports regarding Binary Trading. Some believe that instead of investment platform, it gives a band reputation of gaming or gambling. As a result of zero pay out in extreme cases and anyone who has no knowledge of stock exchange can lose out heavily. It can also lead to addiction of some sorts.
Using a Binary Trading System
Stock exchange is a very unpredictable source of making money. One day, you strike gold; the other day you become pauper. Everyone wants to earn profits in stock exchange, trading. But you can always secure yourself with a little knowledge about how the system functions or works. Binary trading works on a wide concept. You can trade in assets, stocks, commodities or forex. Binary trading system have become hugely popular with the brokers as it works either this way or the other, as in the language of binary trading system are put or call trades. If you are interested in binary trading system, it is imperative that you have thorough knowledge about the system, understand the risks and pitfalls. Even major companies, sometimes fail to make the right call and end up losing millions in trading system.
After understanding, how Binary Trading System works, coming back to 24option, it is a binary option broker located in Cyprus. It is a registered broker with Cyprus Stock exchange and also with many European Countries like Italy, Germany, France and United Kingdom. It has the reputation of the most trusted and popular broker among binary traders in the world.
There are numbers of reasons for 24option, being the most preferred broker. This is largely due to the fact that it offers huge incentives to its new and existing customers on a regular basis. What’s more, 24option is also tech friendly. It supports mobile trading along with Smartphone apps. They have a whole lot of deposit options for their customers ‘world-wide. The limit on maximum amount of money you can trade is $100,000 per trade and the minimum amount is $24.
Types of trading Options offered
Option24 offers 4 types of trading option to suit their customers. They are:
Classic Binaries: It is the most popular type of trading option among the buyers. It is simple, easy to comprehend. Does not matter whether you are novice or experienced in trading, this option appeals to all. It works on the principle of above/below and high/low option.
One touch binaries: It is riskier and confusing option. It is somewhat similar to call or put binary option. In one touch option, you need to take the call depending on the time frame decided by the broker. Since this is a riskier option, the pay-outs are much higher compared to any other options. One Touch Binaries depends on the principle of touch/no touch and High yields.
Boundary Binaries: This is based on speculations and deciding a particular time frame. It has steadily gained popularity over time. Profits can be earned in this option if you understand how the prices changes by focussing on the particular stock. It includes standard yield and has high yield boundary options.
Short term Binaries: As the name suggests this trading range from 5 minutes and can go up to one week. The risks are less and it is fast moving and easier to understand. It has the facility to lock your profits or close early to minimize losses.
Opening a trading account with 24option is very easy. With minimum deposit of $250, it offers the choice of 4 different types of trading accounts. They are standard account, Gold account, Platinum account and Diamond account.24options offers the highest rate in the industry with maximum pay out rate of 89% for in the money trade.
While any stock market looks very attractive from the top because of its lucrative returns, but not all is what it looks like. If not guided properly can lead to gambling and addiction and in turn can lead to losses. Remember although there are many brokers out there who will give you false promises are scam. Stay away from these ones, and go with the genuine and trusted ones like 24option.