Trading the currency market with binary options is not something special, but trading forex binary options with a stop loss system is. 24option have added a new feature to their trading platform: trading forex binary options without the binary part.
Forex Binary Options With Leverage
YOu can trade the foreign exchange market with little money. Instead of investing with a couple of 100K, using a broker who offers leverage gives you the benefit of trading with little money. 24option now offers trading forex binary options with leverage: 1:400. That means for every dollar/euro invested they multiply it with 400. In the image below you can read that the invested amount (a.k.a. stop loss) is $25. 25×400 is a contract size of $10,000. They best thing of these options is that you can not lose more than you have invested: $25. To trade with the currency pair, just follow the next steps:
- Choose which asset you wish to trade;
- Choose the stop Loss/Investment amount;
- Choose tha take profit amount;
- Hit ‘buy’ or ‘call’ and confirm the order.
Positive about this type of options compared to common forex trading is that you can’t end up in a debt with your acount. When the invested amount is $0, the position will simply be closed automatically and you have lost the money and not more money than invested. Second, entering a ‘take profit’ amount gives you the oportunity to walk away from the trading platform and something else. The exit rates (stop loss and take profit) are known upfront, check the green and the red squares. You don’t have to choose an expiry time, since the stop loss and the take profit determine the time of closure. Easer as this doens’t exist!
Forex Binary Options Conclusion
This particular feature is pretty new in the world of binary option brokers. I think it really adds some value to the binary options trading platforms and that 24option have a headstart to their competitior brokers. Kindly check out the 24option website for more information about this. In addition, read about their other great feature on our blog about ladder options, up to 1250% profit.
This type of Forex Option is trading with a reletive low risk. The position is either closing in the money with the ‘take profit’ you have entered or is expiring out of the money and you lose the investment. Nothing in between, no expiry time in minutes/hours/days.
24option other Unique Selling Points
- Options builder
- Free charts
- Economic calendar
- Video’s, ebook, training
- Free demo after deposit