Binary Options Guide

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.

Click here to 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:

24option trading platform

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? Click here to open your account!

 

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 EUR/USD: (those interested in trading currencies can check our forex trading guide)

 EN-step2

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:

 EN-step2

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:

EN-step3

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:

EN-step4

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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:

EN-step5

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 option symbol= High Binary Option
Low option symbol= Low Binary Option

One Touch Binary Options:

One touch symbol= One Touch Option
No touch symbol= No Touch Option

Boundary Binary Options:

in boundary symbol= In Boundary Option
out boundary symbol= 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, visit our Education Center page.

Want to start trading now? Click here 

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 option symbol= High Binary Option
Low option symbol= Low Binary Option

Touch Binary Options:
One touch symbol= One Touch Option
No touch symbol= No Touch Option

Boundary Binary Options:
in boundary symbol= In Boundary Option
out boundary symbol= 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:  

EN-step6

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:

  1. Select the method with which you would like to make the deposit (located on the left side of the form).
  1. 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.
  2. 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:

 EN-step7

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.

Click here and start trading!

[ back to top ]
General Risk Warning:Trading in Binary Options carries a high level of risk and can result in the loss of all of your investment. As such, Binary Options may not be appropriate for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should become aware of all the risks associated with Binary Options trading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall we have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to Binary Options or (b) any direct, indirect, special, consequential or incidental damages whatsoever. For more information about the risks associated with trading Binary Options click here .
24option.com is a brand owned and operated by Rodeler Limited, a financial services company registered in Cyprus (HE312820) and authorized and regulated by the Cyprus Securities Exchange Commission under license number 207/13. Rodeler Limited is located at 39 Kolonakiou Street, Ayios Athanasios, Limassol CY-4103.