24Option Minimum Deposit
Being one of the most recognized binary options broker in the world, 24Option has a minimum and a maximum limit when it comes to deposits. The clients/traders must be keen to make sure that he or she has adhered to the set maximum and minimum deposit amount when making any deposit.
Although 24Option has set the minimum and maximum amount of money that one can deposit in a specific period of time, the process of depositing funds to one’s account is easy and it only takes 24 hours.
24Option Security & Regulation
24Option is a regulated binary options broker. It is regulated by several institutions in the various countries n which it is allowed to carry out its business.
The institutions that regulate it are: the Cyprus Securities and Exchange Commission (CySEC), Financial Markets Authority, Netherlands Authority for the Financial Markets, Czech National Bank, Federal Financial Supervisory Authority, Hellenic Capital Market Commission, Autorité des marchés financiers, Securities Market Agency, Commission Nationale Per Le Societa e la Borsa, Financial Conduct Authority and Commission Nacional Del Mercado de Valores.
24Option Deposit Types
Each method of transferring money among the ones that are allowed by 24Option has its pros and cons. The choice depends on the convenience of the trader.
Before a new client is allowed to start trading, some proof of ID is required as part of the registration process.
The methods of money transfer that are allowed by 24Option are: Visa, MasterCard, Delta, Visa Electron Card, Discover, Neosurf, Qiwi, Skrill, CashU, Sofort, AstroPay, Thwate, Neteller, Paysafe Card, Diners Club, WebMoney, Moneta.ru, Bank Wire, GiroPay and iDeal.
Among the above listed methods, credit cards and e-wallets payment methods are the fastest while the bank wire option is the slowest of them all. The other thing with bank wire transaction is that it requires the largest minimum deposit amount of $1,000.
24Option Minimum and Maximum deposit
Just like any other binary options broker, 24Option has a set minimum and maximum deposit amounts.
The minimum deposit amount is the least amount of money that a client can deposit into his or her trading account. The minimum deposit amount is associated with the lowest 24Option account which is the Basic account. The minimum deposit amount that one can make in 24Option is $250.
However, the set minimum amount varies depending on the method of transaction used to deposit the money. For example, if one chooses to use bank wire to deposit money into his or her 24Option trading account, the minimum amount that he or she can deposit is $1000.
The minimum deposit amount required in 24Option is very standard and has a lot of unforeseen benefits to the trader. Unlike other brokers who allow a minimum deposit of even $10 which the trader can do very little with, the $250 minimum deposit of 24Option gives the trader a good chance to carry out his or her trading easily. It is easier to manage a large deposit than a small deposit since with the small deposit, there is a very high risk of your account being wiped out in case the trades goes against you abruptly due to market forces like news.
On the other hand, the maximum deposit amount is the set limit for the maximum amount of money that a client can deposit within a particular set period like in a day. For example, the maximum daily amount that one can deposit in his or her 24Option trading account is $10,000. Also, the maximum amount of money that one can deposit into his her 24Option trading account in a month is $40,000.
24Option clients have the liberty to choose whether to make their deposits in US Dollars, Great Britain Pound (GBP), Japanese Yen or Euro. However, this choice is made during the first depositing process immediately after registering a new account with 24Option. After the trader makes that choice, it is not possible to change that currency.
24Option also has a minimum investment amount of $24 for the classic option (high/low). This is the least amount of money that can be dedicated to a single classic option trade.
For the short term options, the minimum investment amount is $5 meaning the minimum amount of money that can be dedicated to a single short term option trade is $5.
Therefore, with the minimum deposit amount of $250, the trader can make a maximum of 10 classic option trades and 40 short term option trades.
24Option has upgraded its services to its clients by introducing several bonuses and rewards to its clients. As compared to its competitors, 24Option provides better and more lucrative bonuses aimed at motivating their traders.
The bonuses offered by 24Option are of two types; the technology bonuses and the cash bonuses. The technology bonuses are given in form of tangible electronic devices like iPads and MacBooks while the cash bonuses are given in form of cash.
The technology bonuses are given when a client attains certain deposit and trading requirements while the cash bonuses are given solely for deposits made by the clients.
The cash bonuses are one of a kind since they can be withdrawn later as real cash to the bank account. However, the client/trader must be careful tore ensure that he or she has read and understood all the terms and conditions of the bonus before requesting or accepting it. Failure to understand the terms and conditions will result to the trader terming the bonuses as scams, which they are not.
Withdrawing money from a 24Option Trading account
It is the dream of every binary option trader to withdraw his or her profits at one time or another. 24Option has made it very easy for their clients to withdraw any profits from their trading account by providing a variety of banking and payment methods that the clients can use.
The withdrawal process can take some time but this will depend on the method of payment the client chooses to use. This is mainly due to the fact that the global banking and payment systems take some time processing the required documents.
The first withdrawals are free from any withdrawal fees. If a client opens an account, deposits money, trades and later wants to make his or her first ever withdrawal from his or her 24Option trading account, he or she will not be charged anything. However, the client will incur some withdrawal fees for any other withdrawals made unless he or she has a gold or platinum account.
The withdrawal fees charged by 24Option varies depending on the method of withdrawal. For credit cards, the fees is 3.5% of the amount of money being withdrawn. For Skrill, the fee is 2%. For Neteller, the fee is 3.5%. For the bank wire, the fee is a constant amount of $30 or the equivalent in other currency forms.
The minimum withdrawal amount is $50 or an equivalent of that in other currency forms.
Nevertheless, the trader must ensure that if he or she doesn’t do any withdrawals if he or she has accepted any cash bonus untill the required trading volume is attained. Otherwise, the bonus will be nullified.
24Option registration & Login
The process of registering for a new account with 24Option is very simple. You only need to visit their website and you will see the “Open Account” button on top right corner. When you click this button, you will be requested to fill out two form with your personal details like your name, country and date of birth. This is also the place where you choose the base currency of your account and once you choose it, you can not alter it later. Therefore you will have to choose carefully.
Also, as a part of the registration, you will be required to submit a scanned national ID that has your photo, a scanned document of the credit card that you want to use and a personal bill or residence bill to prove your existence and your address.
Depending on the amount of money that the client wants to invest in binary option trading with 24Option, the client should choose one of the five account types. Each account type has a minimum amount of money that a trader can deposit. Other than the five account types, the client can also choose to open an islamic trading account if he or she is from an islamic state where 24Option is authorised to carry out its business.
The maximum amount of money that a trader can invest with 24Option is $200,000.
For the beginners or those who are new with 24Option, it is recommended that they open a demo account. Opening a demo account only requires a minimum deposit of $250 and a minimum investment amount of $24.
Making money in 24Option
The only way that a client can enjoy trading in 24Option is when he or she makes profits; otherwise the client/trader will not like his or her experience. For the trader to be successful in 24Option or any ther binary options like Banc De Binary for that matter, the trader will have to practice caution during trading. The trader will also investigate and learn which strategy works best for him or her.
There are several mistakes that make binary options investors get disappointed. One of the worst mistakes done by most investors is over trading. Many traders can’t prevent themselves from the greed of placing trades every time even when there is no logic behind the trade. Success in binary options trading requires patience. You don’t have to have running trades all the time.
Sometimes the trader has to trade within a short duration of time since some of the options are quite volatile. In such cases, the trader will be forced to buy and sell within the shortest time possible. Also, the trade has to be placed after a close study or analysis of the market; failure to which the trade will result in a loss. In addition, if the trader gets too greedy and allows the trade to run for a longer time he may end up losing his gained profits yo an extent of even making a loss.
Binary options traders are however different. Some usually do a thorough research before placing any order while others simply place an order on impulse. But whichever trading strategy a trader wants to employ, he or she will make lots of money with 24Option broker. The trader will only have to be consistent and disciplined.
However, it is always wise to be patient and wait for the right time to buy or sell when it comes to some securities, irregardless of the binary option market you are trading. Doing so will make the trader to avoid most of the disasters that are witnessed in binary option trading. The best strategy is always one which identifies the right conditions to either purchase or sell a security and then wait for the conditions to be met. If the conditions arent met, then the trader should be disciplined enough not to place any trade.
24Option Trading Platform
Trading on the 24Option trading platform takes more than just purchasing and selling assets on the 24Option platform. There are various things that the trader must learn when it comes to using the 24Option trading platform. The first thing is that a trader basically sells or purchases an asset of his or her choice at a certain price and using a specific time frame. This is because it is a fixed return option and the trader can only expect two option in the market.
The other thing is exploring the best strategy of making money. The trader should understand that every trader is different. The best strategies to choose from are the most active strategies; those strategies that are being used by most binary options traders and they have been proven to be profitable.
Then the trader has to identify the most liquid markets. This can be simply done by observing those assets that are most frequently traded with a day. Also, the trader may consider looking at stocks of companies which are very active in the markets; this companies ae actually those that shows a capital growth.
Traders using the 24Option platform should also ensure that they carefully monitor the market movements. This enables traders to identify the correct time to place orders and also have a preconceived idea of how he or she expects the market prices to behave. In 24Option trading platform, the prices of most assets settles at the end of every day.
The last but not the least is differentiating between quantity options and quality options. When trading on the 24Option trading platform, the trader should always keep more emphasis on the quality of the trades option rather than the number of securities that the trader is hoping to place an option. The quality of the security which a binary options trader decides to trade determines the amount of returns he or she will get. If the quality is poor and the trader even decides to place many trades, the returns will still be low as compared to if the securities were of a higher quality.
It is always a great satisfaction to binary options traders when trading with a broker who is registered and regulated by the securities regulating institutions within his or her country. Actually, a trader should always choose a broker that is registered with the regulating institutions within his or her country.
However, the USA financial market is among the hardest markets for binary options brokers to operate in. The toughest things are the regulations set in place there. The USA financial market is extremely regulated, making it extremely difficult for the binary options brokers to comply with all the terms and conditions of the US Securities and Exchange Commission so as to get an approval for any US based trader to be eligible to trade on their trading websites. This has greatly affected 24Option broker since it isn’t a registered binary options broker with the US Securities and Exchange Commission therefore making it impossible for any binary options traders based in USA to trade with 24options.
Binary options traders based in USA should therefore look for alternative binary options brokers apart from 24Option broker. It is not possible to register or to open a binary options trading account with 24Option broker when you are located in United States of America. However, if you are from US and currently reside in another country, it is possible for you to open an account with 24Option. You only have to follow all the steps required during registration and fill out all the required details. The only problem is transacting funds from and to the USA banks and into ond out of your 24Option trading account.
References and Further Reading:
- International Investment and International Trade in the Product Cycle (Raymond Vernon)
- Investment in Human Capital (Theodore W. Schultz)
- Corporate financing and investment decisions when firms have information that investors do not have (Stewart C. Myers)
- The Cost of Capital, Corporation Finance and the Theory of Investment (Franco Modigliani)
- The investment opportunity set and corporate financing, dividend, and compensation policies (Clifford W. Smith Jr. ∗)
- Investment Under Uncertainty (Avinash K. Dixit)
- Income distribution, political instability, and investment (Alberto Alesina)
- Investment banking, reputation, and the underpricing of initial public offerings (Jay R. Ritter)
- Ownership structure, investment, and the corporate value: An empirical analysis (Myeong-Hyeon Cho)
- How does foreign direct investment affect economic growth? (E. Borensztein)
- An intertemporal asset pricing model with stochastic consumption and investment opportunities (Douglas T. Breeden)
- Financing Constraints and Corporate Investment (Steven M. Fazzari)
- How investment bankers determine the offer price and allocation of new issues (Lawrence M. Benveniste)