After a lot of googling, I found the correct settings. They have been tested to work on the native Android App.
Security: Enable SSL
Security: Enable TLS
To setup a custom domain email using the new outlook.com interface, do the following:
- Go to Windows Live Domains and signup with your domain
- Verify your domain by changing the DNS entries
- Create a new email account on that domain
- Login to hotmail.com with that account.
- Upgrade to the new Outlook.com interface by going to options and clicking "Upgrade"
There are no IMAP settings available for hotmail/outlook/windows live domain emails.
In outlook 2013/Windows 8.1 I had to go to account settings->more settings->advanced and click uses encryption and set the encryption type to auto.