Binary Options trading Guide
Making binary options trading accessible to traders is our main goal at 24option. As such, we created this special guide to make trading user-friendly and familiarize you with the various trading instruments that are now at your fingertips.
Your Main Trading Window
To access your main trading window, press the Trade tab located in the main navigation menu on the 24option homepage (when logged in to your account). This 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
Understanding the Options List
The options list displays all binary options (assets) available for trading. You can customize the window by choosing which type of asset(s) to display and the preferred order to display them in. 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), you can choose a specific binary option to view.
The section includes:
- Forex pairs
- End of the day
- End of the week
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.
Target Price: The price at which 24option 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 “On the Money”, in case the option expires ‘Out of the money the return will be 0.
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 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.
The trade box displays recent movements in the price charts related to the underlying asset on the 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.
Choosing an Asset
There are three types of trading instruments available to you on 24option: High/Low, One Touch and Boundary. To select the instrument that is right for you, click one of the instruments directly from the trading window. For further information you can read about these trading instruments in our Binary Trading section.
Defining Platform Parameters:
- Transaction ID: The number of the 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, Short Term (60 Seconds, 2 minutes and 5 minutes), Above/Below, One Touch/No Touch or In Boundary/Out Boundary.
- Invested Amount: The investment made in this option.
- Expiry Time: The time at which this option will expire and can no longer be traded.
- Market: The current market price of the option you purchased.
- 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.
My Account – General Overview
Opening your account is easy. Just click on the My Account button from the home page and you’re in. Of course, access to this section is for registered members only. You can register your account now! Your account has five different tabs:
1. Account Summary:
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.
- 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 and your cash balance.
2. Open Trades:
This section can be accessed by selecting the Open Trades tab in 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 Short Term ( 60 Seconds, 2 minutes and 5 minutes).
- Type: A mark that indicates the type of option you chose:
- 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 “On the Money.”
- Refund: The amount of refund expected if the option expires “Out of the Money.”
3. Trade History:
This tab represents all of your past trades with full details of each trade you made. You can choose to view your past trades 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 file with the help of the icons on the right side of the tab.
4. Account Details:
This tab includes all of your personal details as declared when registering. This data can be edited and changed according to changes in your personal information at any given moment.
5. Change Password:
If, for any 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.
Funding your account
Deposits and withdrawals can easily be made from your trading account. In order to execute these actions, choose the Banking tab from the 24option homepage.
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 required details. Necessary fields are 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 can be easily made by choosing the Banking tab from the home page and choosing the Withdrawal tab on the banking page.
In order to get to this page, click on the Banking tab from the home page and then choose the Pending Requests tab. Here you will find all the requests waiting for approval. You can also cancel requests waiting for approval.
If you want to view all of your transaction history – such as deposits and withdrawals – go to the history section by choosing the Banking tab from the homepage. Then choose the History tab – in this window you will be able to examine all of your banking transactions.