24 Option Review

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Contents

24Option Review

24Option Broker Review: For the longest time now, we have been looking at the latest binary options brokers and auto traders to the effect that we almost forgot about the ones that came before. In this one, we go way back to the archives and take a look at a broker we came to know way back in 2020. Call it a throwback or something of the sort. You’re probably shocked (just like we were, at first) that 240ptions was established over 6 years ago and still commands a significant part of the binary options trading market. In an industry where the life cycle of a binary broker or binary option robot goes something like ‘Grand Introduction to the market – On the news for all of 5 seconds – hundreds of traders go online to complain of foul play (or rather futuristic miracles where money disappear from their accounts in mind boggling speed) – the complaints get louder and everyone takes note – broker closes after mass trader exodus’, that 240ptions has lasted that long is absolutely commendable. How exactly do they do it? What features does the broker offer and how do they attract and maintain their client base? Most importantly, is it a legit site or one of those run of the mill brokers we keep warning you about?

24Option Review

24Options, if you didn’t already know, is a binary options brokerage firm that offers traders a platform on which to trade your preferred underlying assets and expand your trading experience. The site is owned by Cypress financial services firm Rodeler Limited and has its main offices in Lymassol, Cyprus. As mentioned earlier, Rodeler Ltd, a well known financial company in European countries, launched its binary options subsidiary some time in 2020. From there it has been a long journey of improvements, steps in both the right and wrong directions, and all that comes with achieving the level of success the site has. We can say that, to some extent, the rise and rise of 24Option can be attributed to the wide range of services offered as well as their quality. Granted, 24Option offers more or less the same type of products any other broker out there, most of whom are ranked at the very bottom of the food chain. However, 24Option do not only give some of the best services any trader could wish for, but also add some personal touch to it. Everyone loves some exclusivity and personalized service and 24Option has not had to look that hard for clients. Actually, the site has the largest number of registered users than any other brokerage site in the world. Not only do 24Option top all the lists when it comes to client numbers – well, most of them anyway, but it is also one of the highest rated binary options site in the world.

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How to Make Money with Binary Option Robot

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Claim your free binary option robot, get started with three easy steps:

  • Name of Robot
  • Min. Investment
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  • Rating
  • 1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.

    2. The Binary Option Robot Will Predict the Price Movement

    Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.

    3. Decide on how much you want to Invest

    Then you need to decide how much you want to invest in the commodity and when that investment will expire.

    4. Collect your Earnings

    Finally, you collect your earnings (the good part!)

    Open a free account by clicking on the button below

    (With bad trades investors can lose their invested capital)

    Regulation

    A broker might have it all – great website, huge bonuses, super-attractive features, name it. However, if they don’t have an operating license (preferably from CySEC), we won’t trust them even a little. Fortunately, when analyzing 24Option, we found that is regulated by CySEC under license number 207/13 and registered by a number of institutions. 24option takes measures to safeguard Clients’ Funds. In this sense, the Company cooperates only with banks authorised and regulated by EU member states and that are highly rated by credit rating agencies. In addition, as per the Company’s regulatory requirements, the Company deposits Clients’ Funds in segregated bank accounts.

    Now that we have established that 240ptions is the real deal, there is no need for skepticism or apprehensiveness. We therefore lower our guard just a little and try to look at the broker a little bit more positively.

    24option has wide educational material.

    *Trading binary options involves substantial risk and may lead to loss of all invested capital.

    Trading Platform

    One of the most important things we check when profiling a particular broker is the trading platform that power their site. This is often the most important, yet mostly underrated aspect of any brokerage. The trading platform is the in all ways user interface. It is what traders see when they log in to their accounts. Basically, the trading platform is the pillar of any broker. If users don’t like the platform, for one reason or another, you can be sure that they won’t be coming back, and their friends too. As such, many brokers have gone to the extent of creating their own platform from scratch in a bid to add some personal touch, maintain user friendliness and most of all add a unique touch to their product. Others, for reasons best known to them, rent out platforms from well known platform providers such as the revolutionary SpotOption™. Sometimes that works, sometimes it doesn’t, depending on the particular platform and/or complimentary features provided by the broker. To cut the long story short, a trading platform can either make or break a brokerage firm.

    TechFinancials is the platform of choice for 24Option. The platform is pretty solid and provides for a great user experience with its simple interface and aesthetic look. The platform has a variety of underlying assets which enables the broker to give you some of the highest payouts for successful trades, in the industry. Well, not 100% perfect but close to that. The possible payouts for most underlying assets range from 70%-88% per successful trade which, by current standards, is pretty high, unfortunately if the prediction is wrong you can lose all your invested capital. TechFinancials has almost real time price update feature that enables the broker to quote only the most current payouts as per other financial markets. It is also worth noting that TechFinancials powers several online forex brokers which leads us to believe that the trading platform, is the real deal

    The platform that 24option provides binary options trading on a wide range of underlying assets including stocks of the biggest companies in the world such as Apple and Facebook and a number of currency pairs, all which will be discussed in details later on. In addition to the underlying assets, a number of analysis tools is supported to enable traders get their analysis right before entering into trades. These range from mathematical graphs to charts and even a few technical indicators. We’ve never really liked mid range platforms, particularly because they have very little to offer, but we somewhat like TechFinancials.

    Below are the main features of the customized TechFinancials platform that powers 24Option explained in detail.

    Option Types

    TechFinancialsand and 24Option provides a number of option types to suit every trader’s needs. Basically, options are types of ‘contracts’ which carry specific payouts (and losses) that apply once a trader enters into the ‘contract’. Some option types are asset-specific in that they can only be used to trade certain assets and not others. Similarly, some are time-specific in that they can only be used to trade either short term or long term expiries. Other options cut across both time and asset limitations. 24Option, through TechFinancials, offer more than 5 trading options of varying prices, expiry times and underlying assets. These options include:

    a) High/Low

    In essence, the High/Low options, also known as Call/Put, are the basic option type in binary options and you would be pressed to find a brokerage and/or platform without this option. Basically, in the High/Low options, you predict the final price of an underlying asset relative to its current price. That is, if the underlying asset’s price will be above or below the current one by the time the trade expires. You can trade binary options in almost all underlying assets with the High/Low option including all stocks and currency pairs. The downside when it comes to this type of option is that the payouts are pretty low compared to the other trading options. Nonetheless, if clients speculation is correct they will earn the predetermined payout that the company offers, if clients speculation is wrong they will lose their invested capital on this trade.

    b) One Touch/No Touch Options

    One Touch options are usually based around a set figure known as the hit price. One Touch options are very similar to the Call/Put options in that the traders predict whether the value of an underlying asset will be higher or lower than a given figure. The main difference is that, while High/Low contracts are written around the current price of an underlying asset as per the forces of demand and supply, in One Touch, the prediction is based on a predetermined value, often set by the broker. Another unique feature of One Touch/No Touch options is that they don’t really follow the expiry times and can end anytime the condition is met. Basically, with One Touch, you are supposed to place trades based on whether you think the value of the underlying asset will have touched and/or gone above the predetermined figure at least once within the specified time. If indeed the prediction is true and the price touches the set figure, the trade automatically expires and you receive the predetermined payouts, regardless of whether the expiry time you selected has ended. But if the predicition is wrong investors will lose their invested capital on this trade. No Touch options, on the other hand, require you to place trades predicting if the value of the given underlying asset will ‘touch’ the target value or not. In most cases, as with TechFinancials, the prediction is predetermined by the broker. That is, you only place a trade if you believe that the underlying asset’s value will not hit a certain point, hence the name No Touch. In both, the payouts are relatively high compared to High/Call although the risks are higher.

    c) Boundary

    Boundary options, as the name suggests, revolve around some price boundaries. There is the lower value, known as the Floor, and the upper value, known as the Ceiling. Trades are placed based on whether you think the price of the underlying asset will be within the given boundary, also known as range, or outside. The payouts are low but still higher than the call/put options. If investors predict correctly they will earn the predetermined payout if not they will lose their investment.

    d) 60 Seconds

    This option, also known as the turbo option, is a new addition to most trading platform. It wasn’t originally a trading option but was introduced due to the increasing popularity of faster, explosive trading with super-high payouts. The 60 Second options don’t require any further explanation as it means exactly that. In other words, you place a trade and even before you get your fingers off your keyboard, it’s already over and you get the payouts, or not. Talk about trades getting done even before they start!

    24option mobile app

    *Trading binary options involves substantial risk and may lead to loss of all invested capital.

    Expiry times

    Having looked at the trading options available at 24Option, the expiry times or time frames are logically the next thing to look at. As it is, the expiry time you select will have a significant bearing on the outcome of your trade. In financial trading, more so in binary options, time is of the essence and even a half second could be the difference between a winning and a losing trade. That said , 24Option, through TechFinancials, offer their traders a variety of long term and short term expiries to choose from, depending on their analysis methods and trading strategies. These are:

    • Short term expiries

    Short term expiries are generally go from 1 second to end of trading day. The short term expiries offered by the broker are:

    • 2 minutes
    • 5 minutes
    • 30 minutes
    • 1 hour

    Short term expiries are the best when you are trading binary options on currency pairs or major stocks. They can also apply to underlying assets like commodities and indices although the results won’t be exemplary. If you are not the patient type and would want to get done with trading as soon as possible, these options are for you. Normally, short expiries carry very high risks and average profits. But have in mind that investors can lose all their capital by trading binary options.

    • Long term expiries

    The long term expiries include the 5 hour and end of day expiries. Regrettably, longer expiries such as end of week are not supported by the platform. This isn’t such a big issue, to us that it, as most traders are currently in love with the more convenient short expiries. That said, both the 5 hour and end of day expiries are pretty good and should get the job done for lovers of longer time frames.

    24option has won several awards

    *Trading binary options involves substantial risk and may lead to loss of all invested capital.

    Underlying assets available

    24Option has been in the game for longer than a large percentage of the current brokers and in that time has managed to accumulate an underlying asset index bigger than most brokers. The broker features over 120 underlying assets cutting across more than 6 stock, currency and commodity exchanges. That is not a joke as a lot of paperwork is required to be get to that, which only strengthens our admiration for quite possibly the best broker we’ve ever seen. To start trading binary options with, 24Option offers more than 30 currency pairs including the strongest and most commonly used currencies such as:

    • EUR/JPY
    • USD/EUR
    • GBP/USD
    • GBP/JPY
    • USD/CAD
    • USD/CHF

    When trading currency pairs, all you have to do is make a prediction on which of the two given currencies will end up stronger than the other. However, this is not as easy as it sounds and you have to do a lot of background research on the two given currencies and correctly use the analysis tools to determine the general trend in their values over recent times. Then there is the issue of choosing the right expiry, which is often an uphill task for most. Our advice? Research is key, not only when dealing with pairs but all the other assets as well.

    24Option offers binary options trading on stocks as well, there are about 60 of them to choose from. Included in the list are underlying asset of stocks of major multinational firms such as Vodafone, PetroChina, British Petroleum, BMW, Samsung Electronics, Google Inc. and Apple Inc. The good thing about this underlying assets offered is that they are all major world companies whose movements are easy to follow and thus place trades accordingly

    Despite the introduction of paper money, trading in commodities is still a big thing, there are even fully fledged commodity exchanges for that. 24Option provides commodity traders with a platform to do what they love most but in a binary options setting. The broker has in their asset index, the most precious commodities in the world right now. These are:

    • Gold
    • Silver
    • Coffee
    • Crude Oil
    • Platinum
    • Copper

    When it comes to indices, 24Option does not offer much, which is because, as far as indices go, there’s not much to offer. Basically, some of the indices you will come across are the Dow Jones and S&P 500 from the US, FTSE 100 from the UK, MICEX from Russia and Hang Sheng from China. If you love yourself some index trading, you will certainly love the selection of indices offered. If you don’t, well, there are a lot of other assets you can trade in.

    Getting started: Account types

    To get started trading with 24Option, you have to choose an account type from the five options provided. Your choice will have to be supported by your bank balance, or credit card balance, at that particular time. The five account types are:

    • Basic Account
    • Silver Account
    • Gold Account
    • Platinum Account
    • Diamond Account

    Basically, the deposit requirements of opening each type of account varies with the basic account requiring only an initial deposit of $250 while to open a Diamond account, you will need to make a deposit of about $15,000 or more. As with any other broker, each of the 24Option account types has its own features, pros and cons. The most common of them being a dedicated Personal Account Manager, free trading alerts and unlimited access to the 24Option Sea of Knowledge, aka trading academy. Since you probably didn’t know that 240ptions is an official marketing partner of Italian football club, Juventus F.C, it is our pleasure to inform you that it is indeed true. When you open an account with 24Option, any account, there’s a chance (less than 20%,if you have a lower account) that you could win some match tickets to go watch Juventus in action – Terms and conditions apply.

    The above are not the only types of accounts offered by the broker and are merely the regular accounts. There are two other special account types that could not comfortably fit in the list above but which are still account types. They are:

    Demo account

    This one is pretty much self explanatory. This is the account you start your 24Option trading experience with. In the demo account, you get to try out several trading strategies and learn how to apply the trading tools available. Simply put, the demo account is more like a rehearsal platform where mistakes are allowed (and cost you absolutely nothing) and are parr and parcel of your growth as a trader. The features on the demo version are exactly the ones you’ll find on the real version, the main difference between them being that a real account will require you to deposit (and potentially risk losing) your actual money while the demo version gives you some virtual cash to spend. Here, you are given $40, 000 in virtual money to trade with. There are no worries, no losses and most of all, no restrictions as far as the demo account goes. The only thing you have to do is make sure your virtual money balance is always above $0, otherwise you won’t receive additional amounts which means your demo account will be useless.

    Unless you are an advanced trader, we strongly recommend trying out the demo account first before getting to real trading. One, it helps you get to know the capabilities and limitations of the trading platform in use, which effectively gives you an opinion, which ultimately shapes your final decision on whether it fits your trading plans or not. Second, it is the best way to safeguard your hard earned (or not) money as you get to know your way around both the platform and the market, if you’re a new trader. In case you are not happy with the broker, all you have to do is deactivate your account, or our favorite – don’t log in to 24Option again.

    Islamic account

    Granted, binary options cuts across gender, racial, geographical and religious boundaries. Everybody, everywhere can become a trader as long as they’re above 18 years of age, have some extra cash in their bank account, and most importantly, have a great WiFi or cellular data signal. The push for religious diversity has led to the establishment of Islamic Banks and insurance companies and now we have Islamic Accounts. 24Options was actually the first binary options broker to introduce the Islamic Account, to attract hundreds of thousands of Muslims who wanted a place where they could freely trade, and benefit from, binary options but in accordance with Sharia Law.

    The 24Option Islamic trading account is every Muslim trader’s dream. The account is free from all hidden charges and rollovers, or anything else that fits the description of ‘Usuri’. Also, the broker does not charge any commissions or interest on transactions involving Islamic Accounts. Everything is Halaal, as prescribed by the Quran. Finally, everything in the Islamic Account is in Arabic, a language which many Muslims understand perfectly. This makes it relatively easier to understand the content in the site, which includes dozens of eBooks and tutorials, much better.

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    *Trading binary options involves substantial risk and may lead to loss of all invested capital.

    Deposits and Withdrawals at 24Options

    24Option provides one of the most convenient methods for depositing and withdrawing funds. It uses highest available resources to make it a safe and secure platform to perform financial transactions.

    The website allows you to invest either in GBP, USD, EUR, and JPY to start trading with the real money. However, the currency once selected will not be allowed to change. The customer can start with a minimum deposit of 250 in either EUR, GBP or USD, or 25000 in JPY or RUB. Customers can deposit funds through a variety of methods including bank wire transfer, cards, or digital payment methods. The company accepts major credit or debit cards, direct wire transfers, and also e-wallets like Skrill, Paysafe, Safecharge, eMerchant, MoneyNetInt, Acapture, OKPay, Perfect Money and Gate2Shop. The customers are not charged any fees on depositing the funds in the 24Option accounts.

    The brokerage house follows the Anti-Money Laundering and Know Your Customer guidelines, in order to ensure that the fund reaches the legitimate account holder. It requires you to fulfill these guidelines before making a request to withdraw funds from the account. This is a one-time process and does not need to be repeated for each withdrawal.

    List of documents required in order to initiate the first withdrawal request:

    • Proof of ID – Any valid photo ID proof like Passport, Driver’s license, or any other identity proof issued by the Government of the resident country qualifies for the Proof of ID.
    • Proof of residence – All the registered users has to confirm their resident status of country through either of the following documents – bank statement, credit card statement, latest utility bill.
    • In one of the section, you are asked to answer few questions. The registered users have to answer all the questions incorrect and with most up-to-date information.
    • Payment method verification – if you wish to deposit and withdraw funds through your credit or debit card, then, you are required to submit the photo of your credit or debit card displaying only the last four digits of the card. You can blackout the other digits on the credit card along with the CVV number displayed on the back of the card, just to be on the safer side.

    The brokerage house does not restrict the amount of withdrawal made to credit or debit cards, Skrill or Neteller account. However, the website restricts the minimum withdrawal amount for the payment method wire transfer. The minimum amount of withdrawal through wire transfer is different for different currencies: $130, €100, £80, ¥10,000 (JPY), ¥700 (CNY), and 7000 (RUB).

    24Option Main Page Promotion

    The website charges fees on withdrawal which depends on the type of account you hold. For the Diamond and Platinum account holders, each and every withdrawal request is processed free of cost, whereas, for other account holders only one free withdrawal is allowed without charges. The consequent withdrawal attracts a withdrawal fee depending upon your withdrawal method. The withdrawal request to a credit card or debit card attracts a nominal fee of 3.5%, while the withdrawal request to Skrill account attracts a fee of only 2 % and to Neteller, the fee is 3.5%. The wire transfers to your bank accounts are charged in the currency of withdrawal, that is, the fees for USD is $30, for EUR it is €25, for GBP it is £20, and withdrawal request in JPY attracts fees of ¥ 3,000.

    The 24Option does not put any cap on the maximum withdrawal amount, however, they are capped at the available funds in the account at the time of making a request.

    The deposits and withdrawals at the 24Option are convenient and feature rich, and gives the sense of complete security to the account holders.

    Customer Service at 24Option

    The benefit of a well-organized broker is that there will be processes and instruction in should you require support from their team. The 24Option has one of the strongest and most equipped customer support team to answer on various subjects of binary trading. The brokerage house can be reached through web forms, e-mail, social platforms, phones, and a live-chat.

    The website of the 24Option is available in 12 different languages including the English, Portuguese, Italian, Arabic, Spanish, Swedish, Norwegian, amongst others. The company has a vast customer support available through direct as well as the associate platform.

    The customer support service of the 24Option has been robust in every stage of enrollment and trading. The robust customer support system of the 24Option is a jewel in their crown.,

    General FAQ About The 24Option

    What are the types of option available for trading in the 24 Option?

    The brokerage house offers mainly four types of binary options for the trading.

    • High-Low
    • Short term or 60-seconds
    • Max profit
    • 100% payout

    How many assets are available for trading?

    The broker offers more than 120 assets including popular stocks, indices, currency pairs, and commodities.

    Is there any cap on a maximum and minimum investment amount per trade?

    Yes, the 24Option limits the minimum investment amount per trade to $ 24, whereas, it caps the maximum allowable investment in a single trade to $100,000. However, these limits vary for the countries and the currencies.

    Is 24Option licensed broker?

    Yes, the parent company of the 24Option website, The Rodeler Limited, holds a license issued by the Cyprus Securities and Exchange commission having license number 207/13.

    Does 24Option allow the early trade closure?

    Yes, the 24Option allows their trader to close their position before the expiry but with certain terms and conditions. Please read their terms and conditions carefully.

    What is the minimum withdrawal amount?

    The 24Option allows you to withdraw as low as $10 from your account through cards. However, there are different minimum withdrawal amount for other types of methods. The minimum amount of withdrawal through wire transfer is different for different currencies: $130, €100, £80, ¥10,000 (JPY), ¥700 (CNY), and 7000 (RUB).

    In which currency can I deposit funds?

    The 24Option accepts funds in USD, GBP, EUR, RUB, or JPY. However, it is important to note that once chosen, you are not allowed to change the trading currency.

    How can I connect with their customer support representative?

    The 24Option has state of the art customer support system, and you can reach through their 24 by 7 live chat, phone, e-mail, or through web-forms. The support staff is equipped to answer on a variety of subjects relevant to binary trading.

    Can I trade on weekends?

    Yes, though limited, the 24Option allows their trader to trade on weekends. There are 5 tradeable assets which are available for the trading. EUR/USD pair, Dow Jones 30, Oil, FTSE 100, and Nikkei 225.

    Does it offer Demo Account?

    Yes, the 24Option offers a demo account to their registered users. However, the customers must deposit funds to utilize this service. The demo account comes with a $40,000 of virtual currency.

    Does it offer Islamic account?

    The customers at 24Option are allowed to have an Islamic trading account, also, this account is offered in the Arabic language to suit the Islamic investors. Above all, the Islamic account does not require to pay additional fees or charges, also, all the learning materials and tutorials are available in the Arabic for ease of understanding.

    Conclusion

    To be honest, we have never seen a broker offering as much as 24Option does. One of the things we like about the broker is their awesome website. Everything you would want to know, not only about the broker but binary options in general is presented in a simple but clear way on the site. As a matter of fact, spending two minutes on the site taught us more than we would ever learn in a lifetime in other brokerage sites. And the payouts too, are amazing, the platform as well. In all aspects, 24Option is arguably the best binary options broker we have ever reviewed.

    (With bad trades investors can lose their invested capital)

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    24Option Review

    A no-frills forex broker with good educational guides

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    • Account Minimum: €100
    • Fees: 0.5 to 1.0 pips for major FX currency pairs during market hours
    • Best For: No-frills forex trading

    24Option is operated by Rodeler Limited, a Cyprus-based Investment Firm. It’s authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 207/13. Unlike some other brokers and spread betting providers, very little information is available about the company on its website such as how long they have been in business, who the managers or owners are, and how many assets are under management.

    Traders can access daily financial news on the 24Option twitter feed

    24Option has a range of educational videos, they also offer as many as 10 live webinars per month

    A pip value calculator that shows exactly what your profit or loss will be with each pip move

    The desktop and mobile platforms do not offer live streaming news

    24Option has high maintenance and withdrawal fees

    No fundamental research

    Trust

    24Option has mixed results when it comes to trustworthiness. One major negative is that the broker is only regulated in Cyprus. This still falls under the EU regulatory regime but may not be as robust as other more developed regulatory regimes like the UK or Germany.

    Another factor working against the broker is the lack of guaranteed stop loss trading outside of France. On the bright side, 24Option participates in an investor compensation fund should the broker become insolvent. Also, client funds seem well protected with anti-fraud software including both ClickSSL and Thawte. Negative balance protection, that prevents clients from losing more than their initial deposit, is also in place as per new EU regulation.

    Desktop Experience

    Like most other brokers, 24Option allows traders to download and use the MetaTrader 4 (MT4) platform. This platform is an industry standard and allows for advanced charting and analysis. Traders who do not wish to use this software can also use the 24Option’s desktop platform, which is better than the industry average. For example, the desktop platform has customizable and transparent price lists for easy trading and execution. It allows for advanced charting with an “indicator wizard” that allows traders to build customized charts. It is also possible for traders to build a watch list simply by clicking on the star next to any currency pair. This pair will then appear in a list of favorites.

    Traders are also able to leave conditional orders and have stop-loss and take-profit trading options that allow for hedging. Finally, unlike some brokers, 24Option displays other clients’ positioning, so traders know how other traders feel (bullish or bearish) about any instrument.

    Special Features

    24Option lacks any special features sometimes available to other traders such as social trading. Other features such as automated trading or back-testing certain trading strategies are available via the MT4 platform, but not through the desktop platform.

    Customer Support

    Customer support is quite good and 24Option scored well in this category. For example, online chat is available for both new and existing clients, and 24 hour support is also available via phone or email 5 days a week.

    Outside of office hours, robo support can answer many frequently asked questions and is easy to find on the lower right part of most of their webpages. The broker also has a list of the most basic FAQs on their site. Social media support is available via Twitter, where several useful daily market briefing videos can be found.

    Investment Products

    24Option also scored well for its range of investment products. While the site has slightly fewer currency pairs than other providers, they do provide extensive coverage in cryptocurrency trading (including pairs with major currencies such as Bitcoin/USD, Bitcoin/EUR, Bitcoin/GBP, etc).

    Additionally, they offer trading in over 160 individual stocks, which is a clear advantage for a trader wishing to partake in such activity. Other trading products such as gold and oil are standard, and 24Option offers trading in many of the same commodities as other providers at competitive spreads.

    Research Tools and Insights

    The range of research products resulted in mixed results for 24Option. For example, the broker has teamed up with Trading Central to provide comprehensive technical analysis complete with entry and exit points, trading charts and recommended positioning. Videos and market calendars are also available to help traders with their decisions. But the broker is behind its peers in areas such as streaming news or fundamental research. These tools can be helpful in making longer-term trading decisions and 24Option is at a competitive disadvantage when it comes to offering these services.

    Education

    Educational products offered by 24Option are quite good. There are several videos that explain many concepts such as CFD trading itself. Other videos cover topics such as pending orders, trend analysis, risk management, calculating pips, support and resistance trading. Webinars are given up to 10 times per month, with at least two dedicated to basic and intermediate technical analysis. There is a separate section related specifically to forex trading with its unique concepts as well as a glossary with key terms important to CFD trading.

    Mobile Experience

    24Option’s mobile experience is adequate but not top of the range. Mobile apps are available in both iOS and Android, but there is no dedicated mobile website that is unique to the desktop experience. The app provides for fingerprint encryption, but this is part of Apple’s Touch ID, and not a separate factor authentication provided by the broker.

    Many of the same features that make the desktop experience pleasant are also available in the app. For example, steaming quotes allow traders to easily see where assets are trading. A mini-chart shows the short-term trend as well. It is also possible to leave conditional orders, stop-loss and take profit orders in the mobile app, so traders have full control over their positions.

    It is easy to make a mobile watchlist by simply tapping on the star to the left of the currency pair. This will add the pair to a list of favorites that can be easily filtered for faster trading. Charting is also easy with the app. Traders can easily switch timeframes to see different trading opportunities.

    Technical studies such as moving averages can also be quickly added to the mobile charts to help traders identify trading opportunities and monitor existing positions. The mobile app offers nearly 100 different technical indicators but lacks the indicator wizard available in the desktop version.

    One disadvantage to the mobile app relative to other providers is the lack of price alerts or news feeds. Other service providers make these options available which can help enhance the trading experience.

    Commissions and Fees

    Relative to other brokers, 24Option’s fee structure is relatively high. For example, there does not appear to be any meaningful discounts for larger volumes traded despite offering four different account types. But there are high fees for dormant accounts that can run to as much as €200 per month after six months. The broker also charges a monthly maintenance fee of €10. Finally, withdrawal fees of around 3.5% apply after the first withdrawal. On the bright side, there are no deposit, commission or financing fees. The minimum amount required to open an account is €100.

    What You Need to Know

    24Option’s high fees and the lack of published information about the company should throw up red flags. But the quality of its educational offerings and its helpful customer support will be useful for new traders. And the firm’s high fees will provide a different, costly kind of education on doing due diligence before picking a broker.

    Methodology

    Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.

    In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.

    Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

    24Option Review

    24Option was founded in 2020 and is regulated by Cyprus Securities and Exchange Commission as a Cyprus Investment Firm. Our 24Option Review states that it is one of the most important companies in the binary options industry. There are many companies in this industry but 24Option is a secure binary options broker. This broker offers superior trading services. You should definitely check it out.


    Min. Deposit:
    $250

    Trading Platform: TechFinancials

    US Clients: Not Available

    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

    Investors can lose all their capital

    24Option at a Glance

    24Option Review shows us that 24Option has a multilingual website. You don’t have to worry if you don’t know English or French, you can choose from Arabic, Spanish, Indonesian, Japanese, Turkish or many other languages. If you choose 24Option, you will have to make a deposit and request the support to open a demo account for your practice. Well, you are experienced, this is not a disadvantage at all.

    24Option Binary Broker Trading Instruments

    At 24Option you can trade binary options in all sort of instruments, from currencies, commodities, stocks to indices. 24Option Review shows that you can trade binary options in more than 30 currency pairs, 11 commodities (gold, silver, cooper, oil, etc), 43 stocks, including Google Inc. Apple Inc. BMW, Microsoft, IBM, JPMorgan Chase and many more. Also you can trade 19 indices from the US, Asia and European Union.

    24Option Reviews of Trading Platform

    At 24Option you have a big feature because you don’t have to download and install the platform. The company provides you with a web-trading platform. They boast with their platform, sustaining that this is the most advanced hi-tech binary options trading platform in the industry today.

    The online platform is very easy to use, as you can see from the image, you have to choose the type of option you want to trade and click on an instrument.

    In the example below, I’ve choose the Nikkei 225, you can see how easy it is to trade. On the right you have the chart and the left side of the prediction field, an area where you have to choose if the price will be above or below the target at the expiration. Fill the amount and click on the BUY button.

    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

    Investors can lose all their capital

    24Option Education & Researches

    24Option have an education center where you can learn everything about binary options, how to trade binary options, trading strategies, tips, and many more from trading eBooks, eCourses, Videos, Tutorials. You can also visit the Daily Global Market Report section where you have access to news, analysis and commentaries on the market.

    Moreover, if you want some tips on how to open your account and how to trade you can read the Binary Options Guide and FAQ sections.

    24Option Trading Services and Conditions

    At 24Option you can choose what type of options you want to trade, there are High/Lows, One Touch, Boundary and 60 Seconds (Short Term) options.
    The most important thing when you trade binary options is the rate of return, at 24Option you can potentially earn up to 88% per successful trade. But if your prediction is wrong you will lose your invested capital to this specific trade..

    The minimum deposit required at 24Option is $250, so after you register the next step is to make the deposit and then you can start trading.
    The minimum investment at 24Option is $24 per option and the maximum investment is 50.000 USD/EUR/GBP for a single High/Low option and $10.000 for other options.

    24Option Accounts Overview

    24Option puts at your disposal three types of trading accounts: Standard Account, Gold Account and Platinum Account. The difference between these accounts is that the services from one account are not available on the other account.
    Standard account: you can trade on all binary option types with no any hidden fees.
    Gold account: if you have a Gold membership, you’ll have other features beside those from Standard Account. You will receive a personal training session; another feature is that you’ll receive an additional 2% return on every correct prediction.
    Platinum account: you can ask your personal account manager any question you might have and you can receive an additional return of 4% on every correct prediction.

    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

    Investors can lose all their capital

    24Option Fees, Commissions, Withdrawal, Deposits

    At 24Option your deposit can be in different currencies like: Euro, Us Dollar, British Pound and Japanese Yen. You have at your disposal three ways to fund your account: Credit Card (MasterCard, Visa, CartaSi, etc.), Electronic Payments (MoneyBookers) and Wire Transfer.

    There are several withdrawal methods but you have to know that a little commission will be charged, when cashing out, the amount depends on the type of your trading account.

    24Option Binary Services and Advantages

    Mobile trading: you can access your account and trade from your smartphone, mobile phone and tablet.
    Binary options competition: gain experience and win $100 000 (bonus terms and conditons apply).
    Affiliate Program: you can become partner with 24Option and gain extra income by promoting their services.
    You can trade during weekends! The rate of return can reach more than 245%.
    24Option provides bonuses for first deposits (bonus terms and conditons apply.). You can get 80% for the first deposit, so if you deposit $250, you’ll get $450 on your account.

    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

    Investors can lose all their capital

    24Option Client Support

    You can call your local representative in more than 20 countries. Also you can reach out to the main office at Ayios Athanasios, Limassol. Starting a live chat is another way to contact 24Option. You can also just shoot an e-mail.

    24Option Review Conclusion

    Trading binaries is exciting, but you have to make sure you can focus on trading and not be distracted by other issues. Problems like worrying about the credibility and reliability of your binary options broker may harm your peace of mind. With 24Option unstained reputation, you can be sure that you are trading with the best. Be sure that your funds are safe. Payouts found during 24Option Review are above average too. The binaries trading platform is superior.

    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

    24Option Review

    Review

    24option is a market-making spot Forex and CFD broker located in Limassol, Cyprus and regulated by CySec. 24option opened its doors to traders in 2020 and for several years was in the forefront of binary options trading. They decided in 2020 to expand by moving away from binary options, and now offer trading in spot Forex and CFDs only. The CFDs on offer cover a wide range, from popular individual international stocks to commodities such as metals, energies and softs, as well as equity indices. They also offer a good, wide selection of Forex currency pairs.

    Accounts

    There are five different account types to choose from at 24option: Basic, Silver, Gold, Platinum, and Diamond. The Basic account requires a minimum deposit of $100 and allows trading with floating spreads from 3 pips on EUR/USD. Other account types require increasingly higher minimum deposits, as you move up the ladder of the better terms which are offered. The Standard account is the same deal as the Basic Account, but also offers trading alerts and a personal coach. The Gold account is the same deal as the Silver account, except spreads are offered from 2 pips on EUR/USD. The Platinum account has several edges over the Gold account: lower spreads (as low as 1.5 pips on the EUR/USD currency pair), no withdrawal fees, access to the research website, and a live training session. Finally, the deluxe Diamond account, in addition to the full offering of the Gold account, offers clients free tickets to a top European football team and a customized trading platform.

    The different accounts are easy to understand and are transparent. The major differentials between accounts are varying average spreads.

    A demo account is available, as is typical with nearly all spot Forex and CFD brokers.

    A wide range of over 50 Forex currency pairs, 89 individual leading global shares from American and European stock markets, over 11 leading equity market indices, spot metals (gold and silver) plus several other commodities such as crude oil and a few softs such as coffee and sugar, and one of the widest range of cryptocurrencies that we have seen, are offered for trading by 24option.

    Features

    A wide choice of tradeable instruments is offered, as well as a choice of two trading platforms: the perennially popular MetaTrader 4 or the broker’s proprietary web-based platform.

    Education

    24option provide a range of educational material. They host live trading webinars, offer free “learn how to trade” eBooks, as well as a free detailed daily market report. There are a range of recorded webinars designed specifically to help trading beginners, which can be viewed at leisure. There are additional levels of webinars aimed at providing detailed trading strategies and ideas suitable for intermediate and advanced level traders.

    Bonuses and Promotions

    Although the offering of bonuses and promotions has been restricted for brokers based in Cyprus by CySec regulation, there are currently two legacy promotions which are offered by 24option. Anyone signing up as a new client and downloading the mobile app received a one-off tradeable bonus of $24. Additionally, discretionary cash bonuses may be paid from time to time to particularly active or otherwise valuable clients.

    Deposits/Withdrawals

    Depositing funds into a 24option account is an easy and secure process. Deposits may be made using a range of methods, including credit cards, bank wire transfer, and Skrill. Withdrawals can be made to credit cards, or by wire transfer.

    Customer Support

    Customer support is based in Cyprus. Clients can contact a 24option representative by telephone during business hours, and can use email anytime of the day. There is also a direct chat service available through their website.

    Conclusion

    24option have transitioned away from binary options into an offering for traders looking for the ability to trade a very wide selection of assets, including stocks, cryptocurrencies, metals, stock indices, and commodities.

    Features

    In terms of features, the stand-out strengths of this broker’s offerings are:

    • A wide range of instruments available for trading: all the major and minor Forex currency pairs, as well as several exotics; also, a good range of global equity indices, plus several commodities, and an extremely wide selection of stocks and shares offered on leading global equity markets. There is also an especially wide selection of cryptocurrencies offered.
    • An option to trade with the most popular trading platform in the industry, MetaTrader 4
    • Regulated by a major industry center (Cyprus).
    • An extensive provision of free educational materials and daily market analysis and commentary across all markets.

    Company Information

    • Broker’s Name : 24Option
    • Headquarter : Cyprus
    • Regulation : CySEC

    Account Information

    • Type of Broker : Market Maker
    • U.S. Clients Allowed :
    • Minimum Deposit : $100
    • Maximum Gain : 89%
    • Minimum Position : $24
    • Account 1 : Basic
    • Account 2 : Silver
    • Account 3 : Gold
    • Account 4 : Platinum
    • Demo Account :
    • Islamic Account :
    • Segregated Account :
    • Managed Accounts :
    • Institutional Accounts :
    • Deposit Options :
    • Withdrawal Options :

    Instruments Traded

    • ETFs :
    • CFDs :
    • Commodities :
    • Metals :
    • Stocks :
    • Oil :
    • Gold :
    • Binary Options :
    • Indices :

    Trading Platforms

    • Mac
    • Windows
    • Linux
    • Mobile
    • Web
    • iPhone
    • iPad
  • Trading Signals :
  • Charting Package :
  • Automated Trading :
  • Market Analysis :
  • Chart Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :
  • Customer Support

    • English
    • Spanish
    • Arabic
    • Russian
  • Support Hours : 9/5
  • E-mail Support :
  • SMS Support :
  • Chat :
  • Platforms

    MetaTrader4

    The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

    In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

    Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

    With this automated trading system clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information. And the Scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

    MetaTrader Mobile

    The MetaTrader 4 and platform apps can be used on iPhones, iPads, Multi-Terminal, and all Android devices.

    Web Client Platform

    24option offer as an alternative to MetaTrader 4 their own proprietary web client platform. It is entirely web based. Although such platforms can be prone to glitches and freezing, we find it seems to work very smoothly. It is intuitive and easy to use, yet there is no doubt it has less features than MetaTrader 4, so many traders will prefer that option.

    24option App

    Every second counts! The app can ensure you never get caught short (pun intended) when the market starts moving at an awkward time, as it so often does. Using the 24option app, you can enjoy the full functionality of 24option’s offering at any time, in any place you are with a smartphone.

    General Information

    Company Information

    • Broker’s Name : 24Option
    • Headquarter : Cyprus
    • Regulation : CySEC

    Account Information

    • Type of Broker : Market Maker
    • U.S. Clients Allowed :
    • Minimum Deposit : $100
    • Maximum Leverage : 1:200
    • Account 1 : Basic
    • Account 2 : Silver
    • Account 3 : Gold
    • Account 4 : Platinum
    • Demo Account :
    • Islamic Account :
    • Segregated Account :
    • Managed Accounts :
    • Institutional Accounts :
    • Deposit Options :
    • Withdrawal Options :

    Instruments Traded

    • ETFs :
    • CFDs :
    • Commodities :
    • Metals :
    • Stocks :
    • Oil :
    • Gold :
    • Binary Options :
    • Indices :

    Trading Platforms

    • Type of Platform : MetaTrader 4
      • English
      • Spanish
      • Arabic
      • Italian
      • French
      • Turkish
      • German
      • Japanese
      • Chinese
      • Russian
      • Portuguese
      • Dutch
      • Greek
      • Malay
      • Thai
      • Bahasa
      • Swedish
      • Polish
      • Hungarian
      • Other
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :
  • Customer Support

    • English
    • Spanish
    • Arabic
    • Russian
  • Support Hours : 9/5
  • E-mail Support :
  • SMS Support :
  • Chat :
  • Pros and Cons

    • Wide Range of Assets
    • Cryptocurrencies
    • High Spreads
    • Insufficient Info About Account Types

    24option Crypto

    There are many Forex brokers that offer cryptocurrency trading, but few are as comprehensive as the 24option crypto currency offerings. 24option prides itself on its wide asset offerings, and its cryptocurrency offerings are no different. The brokerage offers CFD trading for the five top cryptocurrencies, including bitcoin, bitcoin cash, litecoin and Ethereum.

    24option offers traders educational resources for trading CFDs and the strategies are valid for trading cryptocurrency CFDs as well as others. Among the recommendations the broker makes is to focus on a limited number of markets so as to sharpen your trading strategy and make sure it’s both profitable and relevant to the CFD (or, in this case, the cryptocurrency CFD) you wish to trade. Practice your trading strategy consistently on the same assets, and hopefully you’ll see the desired results.

    Another suggestion made by 24option which is relevant both to bitcoin trading and trading of other digital currencies is to create a solid trading plan before getting started. Though many cryptocurrency traders are eager to jump on the bandwagon without an actual trading plan because they ‘have a feeling’ that the market is going to go up or down, or are sharing in the crypto craze that is taking the world by storm. However, this type of overzealous action can be extremely dangerous, especially as cryptocurrencies tend to fluctuate wildly, even without specific market triggers. Taking time to make a strategy-based trading plan will ensure that you don’t trade emotionally, but make intelligent, thoughtful decisions that will bring long-term profits.

    The minimum deposit for 24option bitcoin trading is $250, and the minimum withdrawal amount is $10. Deposits can be made in USD, GBP, JPY, EUR and RUB. Your trading currency cannot be change once it is set, so choose your deposit currency carefully. Some traders have noted that only one withdrawal can be made per month with 24option (bitcoin trading and regular trading), so consider this limitation when making your withdrawal. However, we don’t see this as a serious drawback, as 24option is a regulated brokerage that offers reliable cryptocurrency trading.

    User Reviews

    Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

    Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.

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