How To Buy/Sell On CloseOption

Available trading instruments on CloseOption

CloseOption Review

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CloseOption offers a plethora of trading instruments, primarily focusing on binary options. The platform boasts over 30 fiat and digital currencies paired with the USD. Given the inherent volatility of digital assets, traders can expect payouts of up to 40%, a competitive rate when juxtaposed with other trading platforms.

Platform & features

CloseOption provides an intuitive web-based platform tailored for both beginners and seasoned traders. The platform facilitates trading binary options on over 30 fiat and digital currencies. With a diverse range of 15 contract timeframes from 30 seconds to a month, it caters to both short-term speculators and long-term investors. While there's no dedicated mobile app, the platform is mobile-browser friendly, ensuring traders can access it on the go.

Payment methods

CloseOption supports various payment methods, including but not limited to PayPal, WebMoney, Mastercard, Perfect Money, and cryptocurrencies like Bitcoin, Dash, Ripple, and Ethereum.

Promotions

The platform frequently hosts trading contests. A notable ongoing promotion is the weekly trading contest with a generous prize pool of $3,000.

Regulation

Ensuring the utmost security and credibility, CloseOption is regulated by the National Bank of Georgia.

How much does it cost to trade on CloseOption?

Trading on CloseOption is budget-friendly, especially for newcomers. The platform has a modest minimum deposit requirement of $5, making it accessible for novices or those on a tight budget. The minimum investment amount is set at a mere $1. Most payment methods are devoid of fees. However, bank wire transfers might attract charges between $50 to $100, contingent on the transfer amount. Notably, all payment methods are exempt from fees, except for bank cards with an 8.4% charge, which is occasionally waived during promotions.

How to start trading with CloseOption?

• 1

  Choose the asset. The foundation of any trade lies in selecting the right asset or currency pair. On CloseOption, traders have many choices, from traditional fiat currencies to more dynamic digital currencies. This initial step is pivotal, as the chosen asset often reflects a trader's market analysis, risk tolerance, and overall trading strategy. With over 30 fiat and digital currencies paired with the USD, CloseOption ensures that traders have ample options to align with their market predictions.

• 2

  Timeframe selection. After pinpointing the asset, traders must decide on the contract's duration. CloseOption's flexibility shines here, offering timeframes as brief as 30 seconds for those keen on rapid trades to as extended as a month for individuals who adopt a more patient trading approach. This step is crucial as it dictates the trade's expiration and potentially influences the strategy employed, be it short-term speculation or long-term investment.

• 3

  Trade size. Determining the trade size is the next pivotal step. CloseOption's user-friendly interface allows traders to effortlessly adjust their trade size using the ‘+’ and ‘-‘ toggles. For traders who prioritize exactness, there's an option to input the specific amount manually. This step ensures traders manage risk effectively, allowing for precise control over potential losses and gains.

• 4

  Review payout. Before diving into the trade, assessing the potential payout is essential. CloseOption offers a transparent view of the potential returns based on the chosen asset, trade size, and market conditions. This step gives traders a clear picture of the possible reward, ensuring they're comfortable with the risk-to-reward ratio before proceeding.

• 5

  Confirm trade. The culmination of the trading process is the trade confirmation. On CloseOption, this entails selecting either the ‘Put’ or ‘Sell’ option. The choice between these two reflects a trader's prediction of the asset's price movement. By finalizing this step, traders solidify their position in the market, backed by research, analysis, and a clear strategy.

How to trade binary options at CloseOption

• Choose your asset. Initiating your trading journey on CloseOption begins by picking the asset or currency duo you're keen on. CloseOption showcases an extensive array of over 30 traditional and digital currencies coupled with USD. This broad spectrum lets traders diversify their holdings and opt for assets resonating with their market insights and risk comfort. From conventional currencies to dynamic digital ones, CloseOption caters to diverse trading inclinations.

• Pick your timeframe. Post-asset selection, it's about determining the contract's duration. CloseOption presents varied time spans, from a brief 30 seconds for swift trades to an extended month for those leaning towards a prolonged strategy. This adaptability ensures that immediate traders and extended investors find a suitable duration.

• Set your volume. With your asset and timeframe set, the next move is deciding your trade's magnitude. CloseOption's user-friendly dashboard allows traders to modify their trade volume with the ‘+’ and ‘-‘ controls. For those valuing exactness, there's a provision to key in the desired trade amount manually. This ensures traders have a firm grip on their potential risk and gain.

• Review potential gains. Before locking in your trade, assessing the possible profit is imperative. CloseOption's transparent setup lets traders gauge the prospective returns based on their trade's dimensions and assets. Considering the unpredictable nature of digital currencies, gains can touch 40%. Evaluating this helps traders make enlightened choices, ensuring the possible profit aligns with their trading aspirations and risk threshold.

• Finalize your trade. The concluding phase in the trading sequence is affirming the trade. On CloseOption, this entails opting for the ‘Put’ or ‘Sell’ choice. A ‘Put’ typically signals an anticipation of a price drop, whereas ‘Sell’ indicates the reverse. By activating one of these, traders cement their stance, stepping into the market with a lucid plan and foresight of potential scenarios.

Let's do an example of how to trade on CloseOption

Trading on CloseOption is a seamless process. Start by selecting your desired asset or currency pair. Once chosen, decide on the contract timeframe, which can be as short as 30 seconds or as long as a month. Next, determine the size of your trade. This can be done using the platform's toggles or manually entering the amount. Before finalizing, review the potential payout to ensure it aligns with your expectations. Once satisfied, confirm your trade by selecting either the ‘Put’ or ‘Sell’ option.