24Option have just unveiled a new feature on their trading platform which allows traders to lock in binary options that expire in just two minutes from entry.
Of course even shorter expirations have been around for a while in the industry; however 24Option will be the first binary broker to offer 2 minute binary options.
60 Second options have taken the industry by storm due to them providing traders the opportunity to lock positions in that expire very quickly and give feedback as to wins and losses almost immediately. Since being introduced a little more than a year ago they have proven to be exceptionally popular, both with traders and broker.
“Being able to trade at these shorter durations allows me to profit in spaces on the chart that others can’t manage” said Mark Pullman, a recent convert to binary options trading, “it makes things so much more interesting as I can jump into the most turbulent waters and profit repeatedly on both the up and downswings. “
So why the 2 minute option? Matthew Williamson, a spokesperson for 24Option revealed the following to us: “The 60 second trades seem to be just a little two short, seeing as the durations on most platforms only go down to two minutes you simply don’t have the resolution there to most accurately forecast the imminent change in price action. In some of the tests we performed it was revealed to us that if the information you have at your disposal is at a higher resolution, in other words more frequently updated than minimum time you lock your expirations in, you end up with a 10-25% increase of in the money trades, just from being able to see what’s going on in the market that little bit clearer. And that’s not even taking into consideration the level of experience and proficiency of the trader wielding the tool. We’re excited about this; we think it’s going to make a big difference. “
Forex currency pairs are extremely popular on the new 2 minute platform. However the benefit of binary options truly comes into play with the 2 minute expiration as binary traders can now place these trades on a wide range of other underlying assets such as stocks, commodities and indices.
“It’s the best of both world as far as we are concerned”, said Williamson, “you get the flexibility of locking in a trade even when you don’t have the time to sit through a whole trading session, but you also place it at a duration that has been proven to have a greater chance of being profitable for you. And now with our new mobile trading app gaining ground you’ll be able to do this from anywhere, just with the tap of a finger. We’re very excited about this development and have a feeling we’ve only seen the tip of the iceberg as far as market penetration is concerned.”
Please Note: Trading binary options involves substantial risk and may lead to loss of all invested capital
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.