Hello, dear reader. My name is Peter and I would like to report on my experiences with binary options within the scope of this text or experience report. I would describe myself, 34 years old, as a beginner who had nothing to do with binary options so far. But I wanted to change that and registered for it first at 24option.com, a broker with German support. That was and is personally very important to me, after all my English level is not exactly the best. I had also decided on this broker, because I had read after an extensive research in the Internet actually only positive about the provider. So I decided to register.

Registration on 24option.com and Assets

The registration went smoothly, with a minimum deposit of 250 Euro you can start already. I deposited these directly by credit card payment in an uncomplicated way at the broker. The assets that can be traded on 24option.com are stocks, currency pairs, commodities and indices.

Trading on 24option.com

Trading via this platform is easy to understand and implement. This is mainly due to the user-friendly design of the portal interface. The derivatives you are looking for can be found quickly within an overview and the trades can be executed within a few moments and with just a few clicks. For beginners like me this offers optimal starting possibilities. Within the trades I used the 1 percent rule, which I would like to recommend to anyone who wants to keep an eye on the risk involved in trading. I therefore limited the stake per trade to a maximum of 1% of my total trading account. It should be mentioned here that I first tried my hand in the broker’s free demo account. But here I was quite successful and could (at least) double my virtual trading account.

My strategy on 24option.com

Since I had already successfully traded with binary options within the scope of the demo account, I decided to put my luck to the test on the real market. In doing so, I tried to pursue a strategy. I did this in such a way that I always placed a trade when the price had reached the highest or lowest value in the considered candle formation. In the event of falling prices, I set a binary option for a renewed price increase. Conversely, if the price had risen, I would bet on falling prices. In this way, I could assume with a probability of more than 75% that the desired price rise or fall would actually occur. So I combined the 1% rule with this strategy and managed to double the balance of my trading account, not like the demo account, but constantly increase it. The 250 euros that I paid in quickly became 430 euros.

The means of payment on 24option.com

I was also convinced by the broker’s available means of payment. In addition to the option of paying by credit card (Mastercard, Visa, Discover, etc.), you can also pay by conventional bank transfer or Sofortüberweisung. Payment via PayPal, Skrill or Paysafecard is also possible. As already mentioned, I decided to pay by credit card. The reason is the fast and secure handling of the payment, after all I wanted to start trading as soon as possible.

The most important advantages and disadvantages from my point of view on 24option.com

For me it is important that only a reputable supplier is traded. In view of the fact that there are black sheep on the market, this is probably one of the most important criteria. The broker 24option.com is subject to the regulation of the financial supervisory authority CySEC and is therefore subject to European rules. I also find the possibility to trade via the smartphone interesting and would assess this as positive. I myself trade exclusively from my laptop at home, but I could still imagine setting mobile trades. Also the possibility of using the demo account to develop a feeling for trading and to develop a strategy. Thanks to the instructions that 24option.com wrote especially for new customers, I was able to quickly find my way around the broker’s user-friendly interface. So far I haven’t had to contact customer support, but I think it’s positive that there’s the possibility of German-speaking customer service. I would call the comparatively high minimum deposit of 250 Euro negative. However, I would also like to point out here that entering the trade with less budget does not really make sense. For this reason I have not really disturbed myself about it. All in all, I can recommend trading binary options through the broker 24option.com to anyone who wants to start trading. The usability and ease of use are excellent, the tradable assets are sufficient.

 
Experience report written by Peter, 34 years old, from Marburg