For those who are looking for a new way to make money, options trading may be worth looking into. Those who are located in Europe or looking to do business with an options broker in Europe may wish to consider 24Option. Let’s take a look at what they offer and how it may be helpful to both beginner and advanced traders alike.
Trade a Variety of Products
If you want to trade currencies, there are multiple Forex pairs that you can choose to trade such as the USD/JPY, EUR/USD and AUD/USD. If you are more comfortable with stocks, you could choose to buy options in companies like Google or Microsoft. Those who are more interested in trading commodities such as oil or natural gas may also find opportunities to make money on short or long-term positions.
24Option Provides Education to New Traders
It is easy for a trader to be overwhelmed when he or she sees all the potential trades that can be made. However, 24Option offers a variety of webinars that will teach you what a binary option is, how to manage your risk and how to use charts and other market tools to your advantage. If you have experience trading or have already learned the basics, advanced webinars will teach you specific trading strategies as well as how to control your emotions while trading.
Download Their App to Trade On Your Terms
The 24Option website claims that the mobile app is the fastest way to open and close your positions. In a volatile market, a few seconds could be the difference between making a profit or losing money. Therefore, using the app to trade could benefit individuals whether they like to trade at work, on the bus or at home. In addition to making trades, you will have access to charting and other tools that help you analyze the market and make educated decisions.
24Option Is a CySEC Regulated Broker
As a CySEC regulated broker, 24Option is obligated to follow best practices related to protecting your money as well as the integrity of the market. You will have access to reliable market data that has not been manipulated or altered by the broker or any individual trader. As part of the signup process, you will be asked to describe your experience in the financial market as well as provide proof of your identity.
Fund Your Account With as Little as $250
You can fund your account with as little as $250 and open a position for as little as $24. This makes it easier for those with tens of thousands of dollars or just a few hundred dollars to use 24Option in a meaningful way. The broker’s website also suggests to ask about any specials that may add to your initial deposit. You can fund your account with a credit card, a wire transfer or by using an online payment service.
Know Your Profit or Loss Before You Enter the Trade
The 24Option platform makes it easy to determine how much you stand to gain or lose from a particular trade. In addition to adding transparency to the markets, it helps you figure out ahead of time if a particular trade fits with your overall strategy. It also reduces the odds that you don’t buy when you mean to sell or sell when you mean to buy.
Trade Over Short or Long Time Frames
Those who are looking to take advantage of small dips in the market may want to take advantage of options that expire every one, two or five minutes. Hourly and daily options allow you to exploit trends in the market or otherwise create a trading strategy that you are comfortable with. If you hit your profit target or hit your stop-loss target, you can close a trade to lock in profits or minimize losses before the option expires.
24Option provides traders with a variety of tools and educational materials that traders want and need to trade effectively. While there is no guarantee that you will make a profit, there are resources and information available to make the trading process as transparent as possible. Those who need help can call or email customer support at any time for assistance.