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24option Review
Overview
The 24option cooperates only with banks authorised and regulated by EU member states and that are highly rated by credit rating agencies. The 24option is a CySEC regulated broker operating under license number 207/13
Details
| Broker | 24option |
|---|---|
| Website URL | www.24option.com |
| Founded | 2020 |
| Headquarters | 39 KOLONAKIOU ST., AYIOS ANTHANASIOS, CY-4103 LIMASSOL, CYPRUS |
| Support Number | +357 25 262063 |
| Support Types | Live Chat, Phone, Contact Form, E-mail |
| Languages | English, Italian, German, French, Russian, Spanish, Portuguese, Arabic, Japanese, Swedish, Danish, Dutch, Finnish, Norwegian |
| Trading Platform | Tech Finacials |
| Minimum 1st Deposit | $250 |
| Minimum Trade Amount | $24 |
| Bonus | BONUS UP TO 100% |
| Payout | Up to 88% |
| Free Demo Account | Open Demo |
| Regulated | |
| Regulation | CySEC (Cyprus) № 207/13 |
| Commission Info | No |
| Account Types | Standart, Beginners, Gold, Platinum, Diamond, Islamic |
| Deposit Methods | Credit/Debit Cards, Bank Wire, Skrill (MoneyBookers), CashU, Neteller, Sofort, Neosurf, Webmoney, etc. |
| Withdrawal Methods | Credit/Debit Cards, Bank Wire, Skrill (MoneyBookers), CashU, Neteller, Sofort, Neosurf, Webmoney, etc. |
| Number of Assets | 130+ |
| Expiry Times | 60sec, 2minutes, 5minutes |
| Option Types | High/Low, One Touch, Boundary, Short Term |
| Account Currency | EUR, USD, GBP, RUB, TRY, CNY, JPY, CHF |
| US Traders Allowed | |
| Mobile Trading | |
| Tablet Trading | |
| Overall Score | 9.8/10 |
Full Review
The 24option began operations in 2020, and was one of the first brokers in the market. Since then, many new tools have been designed and introduced to simplify and improve trade sessions for users.
When starting to work with 24option, you will first be able to open a demo account to practice. This will greatly reduce the chances of losing your money as a result of inexperience. There is also a 24option Education Center, which can bring you lots of benefits in learning the rules of trade.
In addition, you will be offered one-to-one training with an expert. Clients of 24option receive a chance for permanent contact with a financial adviser through a live chat, email or telephone to discuss potential profits and different strategies. We believe that this is a great advantage for all traders, even experienced ones.
One of the main advantages is that the 24option broker is regulated by CySEC and follows all regulatory rules (Cyprus Securities and Exchange Commission), to ensure safe and secure trading.
Deposit and withdrawals
A good sign is that the amount of money you can earn is not limited! There are brokers who will not allow you to withdraw all your profits if the profit is too large. This fact can create a lot of trouble and cause anxiety among traders. The 24option refrains from doing this, allowing applications for withdrawals, so the traders can get their money as quickly as possible. The customers receive a payout within 3-5 working days (or within 1 day if you have a VIP account). In order to withdraw funds, you can use credit/debit cards, Moneybookers, bank transfers, Neteller, Qiwi, Webmoney and a number of other payment systems, which are represented in the image below.
You should keep in mind that the 24option allows 1 free withdrawal per month; if you withdraw money more often, a commission is applied. The commission depends on the account level you have reached. For the platinum accounts, no commission will be charged for withdrawal of funds.
Owners of regular and gold accounts only get 1 withdrawal free of charge per the calendar month.
Complaints about 24option
Our team searched the information on the Internet for any complaints, and we found some negative comments, but it seems to be the manipulation of competitors; the criticism that has been objective has been resolved by the company in a positive way.
On several forums, some customers complained that they did not receive the approval of a withdrawal and waited a week. We do not believe this because, firstly, their problems have been successfully resolved by the broker, and secondly, in the «Terms and Conditions» section, you can find the dates within which the broker must meet its obligations and how long it takes to perform the procedure.
If we find complaints about 24option, we will post it on social media. Follow us to be well informed:
The 24option is a scam? The 24option is currently one of the most law-abiding of brokers on the market. It has been regulated by the Cyprus Commission for the Securities and Exchange Commission (CySEC).
Regulator
The 24option was one of the first brokers that received a license from the financial regulator. Trading with a regulated broker provides a high level of service and protection to clients. Being regulated by CySEC (Cyprus Securities Commission and Exchange Commission), the 24option has a so-called «EC passport» to provide services within the European Union in accordance with MiFID (EU Directive «About Markets in Financial Instruments»). Thus, the 24option is one of the safest brokers for European traders.
Bonuses
If you were not registered earlier and just opened an account for the first time, you can earn a bonus. The amount of the bonus varies depending on the type of account you open. It is usually 30% of the initial deposit but can reach up to 100%.
We recommend you to follow the news: the 24option often announces information on additional bonuses or prizes. For example, a current bonus gift is a MacBook. They also hold many other trading contests with real prizes. If you decide to take a bonus from 24option, you should carefully read the terms for the use of the bonus, because every broker has certain conditions that must be followed by traders.
Summary
A final summary on 24option broker. All in all, the 24option is one of the leading brokers on the market. The company has more than 6 years of experience as a broker, and every year they increase the number of services and bonuses offered to their customers. The minimum deposit is only $250, and the minimum bet size is $24. They also offer free trading signals which can be used on the trading platform.
The broker has a large section devoted to education, with free e-books and many videos. Most importantly, the broker is regulated by CySEC, so you can enjoy a safe and secure trade.
Conclusion
In summary, we can say that the 24option is a regulated, 100% reliable and safe binary options broker. The company is fully compliant with the high level of service standards set by the EU. The minimum deposit amount is only $250, making it easy to start trading.The 24option takes first place in brokers ranking at FraudBroker.com and is the best choice for European, Arabian and Asian traders.
Reviews
I have been trading at 24Option for over a year. The platform is quite excellent, I have a few things to warn you about – Upon the registration, you must enter your real personal data for the future verification for further profit withdrawals. Also, read their bonus policy for problem-free obtaining. Overall, a good, safe broker, I would recommend it personally. Thanks. Marc.
Why most of you keep losing to your trade brokers is because you don’t make use of any strategy in trading binary, Note binary has gone beyond all that trading without a strategy, no broker account would want you to make profit while they are losing… so it the other way round you lose while they win, have been trading for over two years now and it has been a very different dimension for me because i have been trading with a very new strategy that has been able to lift my trades accurately giving me wins of about 7-8 daily…it no fluke have been able to help enough people raise up there investment with enough proofs to show you, my one to one masterclass strategy would save you years of time wasting and funds wasting if only you are prepared to learn binary trade is one thing i have come to understand ,it’s all about you having a nice broker, using the rite strategy and above all knowing how to read the trend and if you need assistance on how to make withdrawal from your account easily even when bonus was giving to you or recover the money you have lost email me at [email protected]
Here is a list of issues I have had with 24Options:
Impossible to try the demo account without putting in a £400 deposit, basically tying me up to 24Options even though I hadn’t tried the platform yet to check it would meet my expectations and requirements, as in others I tried in the past.
I didn’t use the account for a while and then realised I had been charged a withdrawal fee of about £50, although I had not been notified, as per section 2, Inactivity Fees’ paragraph in their General Fees Terms and Conditions. I am not entirely sure exactly how much I was charged as this sum doesn’t figure on the account banking history.
The dormant fee was withdrawn a second time and still with no notification, although this time, it did figure in the account history.
The General Fees T&Cs specify the dormant fee will be applied if there are no transactions on the account. I did use the demo account and therefore assumed that it would be classified as transactions. If that wasn’t the case, this should have been made clear in the T&Cs.
Online customer service is very slow and abrupt: the guy I was chatting with suddenly closed the chat saying he had to go, even though I wasn’t finished with my questions.
100% SCAM. STAY AWAY FROM THEM, I repeat STAY AWAY FROM THEM. All they want is your money once they get it, they’ll be done with you.
24option – обзор брокера, мои отзывы. Бонусы от 24option на бинарных опционах
Брокер 24option является одной из лучших торговых платформ бинарных опционов на сегодняшний день. И давно заслужил доверие и признание огромного числа трейдеров со всего мира своей безупречной работой и качественным обслуживанием клиентов.
Лично мои отзывы о 24option только положительные. А все потому, что ни разу со дня моей регистрации (сентябрь 2020 года) у этого брокера у меня не возникло ни капли сомнения о честности и порядочности этой компании. Объективными причинами того является быстрота исполнения приказов на покупку опционов, полное совпадение без каких-либо махинаций цен на графике 24option и на графике цены в реальном времени, быстрый ввод/вывод денежных средств, различные бонусы и акции. В целом 24option производит впечатление качественного и честного сервиса для торговли бинарными опционами.
Характеристики брокера бинарных опционов 24option
- Год основания: 2020
- Место нахождения: Cyprus, Limassol. Есть представительство в России:
- Минимальный депозит: $250 или 10000 руб — для Росссии
- Минимальная инвестиция: $24
- Максимальная инвестиция: $50 000
- Демо счет: Предоставляется после пополнения депозита от $250
- Максимальный процент прибыли: 85%
- Возврат инвестиций: Нет
- Виды опционов: «Цена выше/ниже», «Одно касание», «Граница», «Краткосрочные» (30 сек, 60 сек, 120 сек, 300 сек)
- Бесплатные сигналы: Есть
- Активы: Индексы (22), Валюты (32), Акции (46), Сырьевые товары (11)
- Валюта счета: RUR, USD, EUR, GBP, JPY, CHF, TRY, CNY
- Техподдержка на русском: Есть, on-line чат в режиме 24/7
- Мобильный трейдинг: Есть
- Способы ввода/вывода средств: Кредитные карты (Visa, MasterCard), WebMoney, QIWI, MoneyBookers (Skrill), LibertyReserve, iDeal, Sofort, банковский перевод
- Персональный менеджер: Есть (русский язык)
- Регулируется: CySec / MiFid / ЦРФИН
- Торговая платформа: Tech
- Бонусы: 100% на первый депозит и др.
Бонусы на бинарных опционах от 24option
Теперь остановимся подробнее на том, как же получить бонус на первый депозит при регистрации у брокера 24option. Все что вам потребуется сделать, это указать достоверные регистрационные данные, а точнее ваш действительный номер телефона. Знаю, многим не нравится навязчивые звонки менеджеров с различными расспросами о вашем опыте торговле, намерениях инвестировать средства и прочие. Но, тем не менее, номер телефона все же рекомендую указать свой реальный, так как при звонке менеджера, вы сможете обсудить с ним величину вашего бонуса. Здесь главное не стесняться, а открыто заявить, что вы собираетесь инвестировать средства только при условии, что вам предоставят бонус на первое пополнение в размере 100%, а может и больше – как сумеете договориться, поторгуйтесь. И уж поверьте, в большинстве случаев вам не откажут.
Таким образом, чтобы получить бонус вам необходимо зарегистрироваться и, не пополняя счета, дождаться звонка менеджера. Если вам не позвонят, что маловероятно, обратитесь в чат on-line поддержки и договоритесь о бонусе.
Как правило, бонус является не снимаемыми средствами либо его необходимо отыграть, сделав «энное» количество покупок опционов (это тоже обсудите с менеджером). Так зачем же он тогда нужен, если его нельзя снять? – спросите вы. А нужен он в большинстве случаев трейдеру для более быстрого разгона депозита или, как дополнительная ступень при использовании метода Мартингейла, об этом я уже писал в этой статье.
Кроме всего прочего, от себя хочу добавить, что у брокера 24option очень быстрое исполнение приказов на покупку опционов (в этом можно убедиться, посмотрев видео в этой статье). Не редко приходится сталкиваться у различных брокеров с задержкой исполнения приказа на покупку до нескольких десятков секунд, что очень неудобно и, более того, опасно при работе на краткосрочных опционах (30 и 60 сек). На платформе 24option исполнение приказов мгновенное и не доставит вам неудобств.
24option Review
24option Video Review
Based in Cyprus, 24option is binary broker which is a strong favourite among many binary traders today. This is largely due to the fact that this broker is a proactive broker that offers many incentives to its traders on a regular basis. It is not uncommon for traders to regularly find 24option offering cash prizes running into thousands of dollars for their monthly trading competitions. Formerly owned and managed by CBAY Financials, 24option today is under the management of a different holding company called Rodeler Ltd since late last year. The broker is still regulated and licensed by the Cyprus Securities Exchange Commission (CYSEC) under the license number: 207/13.
The trading platform offered by 24option to its traders is one of the most innovative trading platforms around. While most binary brokers rely on the two leading third party trading platform providers such as SpotOption or Tradologic to supply the trading engine, 24option has chosen to take a different path by using the trading engine supplied by Tech Financials. The end result for traders is a unique trading experience in safe and secured trading environment.
Mobile trading is also extensively supported by 24option. With a secondary website optimized for smartphones and other mobile devices, traders who are constantly on the go can also easily access their accounts, check the markets and make trades without having to use a dedicated computer.
There are four main types of trading contracts offered by 24option. These include:
Consist of Above/Below and High/Low options
Comprises of Touch/No Touch and High Yield Touch Binaries
Include Standard Yield and High Yield Boundary Options
Binaries with short expiry times ranging from 30 seconds to 5 minutes.
Opening a trading account at 24option is easy. Traders just need to make a minimum deposit of $250 when they sign up with 24option. As for the types of trading accounts, 24option offers traders a choice of 4 different types of trading accounts, Standard accounts, Gold accounts, Platinum accounts and Diamond accounts.
No restriction to types of assets traded
24 hours customer support
Max pay-out is 83%
Apart from all the benefits of a standard account, gold account holders also earn an extra 2% on their investments + 1 free withdrawal per calendar month
Benefits of standard and gold accounts plus an additional 4% per trade unlimited free withdrawals
max pay-out is 89%
Benefits an additional 6% per trade unlimited free withdrawals
A free demo account facility is also provided but traders are required to place a deposit of $250 first before they can gain access to this facility.
As for the returns offered by 24option, their rates are one of the highest in the industry with a maximum payout of 88% for in the money trades. Out of the money trades are also entitled to a rebate of up to 15% of money invested.
With more than 100 different types of underlying assets, 24option asset list is one of the most comprehensive that we have ever seen. Considering the fact that there are 4 main types of trading contracts, this meant traders have extensive choice of trades that they can make.
AUD/CHF
AUD/JPY
AUD/NZD
AUD/USD
CAD/CHF
CAD/JPY
CHF/JPY
EUR/AUD
EUR/CAD
EUR/GBP
EUR/JPY
EUR/NOK
EUR/TRY
EUR/ZAR
GBP/AUD
GBP/CAD
GBP/CHF
GBP/JPY
GBP/USD
NZD/CHF
NZD/USD
USD/CAD
USD/CHF
USD/JPY
USD/MXN
USD/NOK
USD/RUB
USD/TRY
USD/ZAR
Copper
Corn
Gold (XAU)
Oil
Platinum XPT
Silver (XAG)
Sugar
XAU/EUR
XAU/JPY
XAU/XAG
Bombay 30
CAC 40 Future
DAX-30
Dow Jones
FTSE-100
Hang Seng Future
IBEX- 35
KOSPI 200
MIB-40 FUTURE
MICEX
Nasdaq Composite
NIFTY
Nikkei 225
S&P 500
SMI FUTURE
South Africa 40 Future
TA-25
Tadawul
AMEX
ANZ
APPLE
AXA
BAIDU
BARCLAYS
BBVA
BEIERSDORF
BHP BILLITON
BMW
BNP PARIBAS
BP
CITIGROUP
COCA-COLA
E.ON
ENEL
EXXON
FIAT
FRANCE TELECOM
GAZPROM
IBM
ICICI BANK
JPMORGAN CHASE
LUFTHANSA
MCDONALDS
MICROSOFT
NIKE
RIO TINTO
ROSNEFT
ROYAL DUTCH
SBERBANK
SOCIETE GENERAL
SONY
SUMITOMO
TATA MOTORS LTD
TESCO
THYSSENKRUPP
UNICREDIT
VODAFONE
WESTPAC BANKING
It has been said that the quality of 24option’s customer support is second to none. With support in 17 major languages, it is different to find another broker in the industry that is more trader’s friendly than 24option. Access to the support team is by means of email, live chat and telephone. As an added benefit, international traders will find that there is also a long list of toll free and localized numbers which they can call to reduce their telephone charges.
- Long Established Broker
- Member of the Investment Compensation Fund (20,000 Euro in Protection)
- Regulated and Licensed Broker by CYSEC
- Reputable Broker in the Industry
- Dedicated Customer Support
- Attractive Range Of Incentives And Benefits
- Large Cash Prizes For Trading Competition
- Multiple Languages Supported
- Unique And Secured Trading Platform
- Wide Coverage Of Markets
- Demo account require deposit of $250 before access is granted
In our opinion, there is no binary broker around which come close to the quality of services offered by 24option. In addition, the range of incentives that 24option offer to traders is certainly one of the most attractive around. In fact, it is difficult to find any fault with this broker.
24Option.com Review – Can You Trust Them?
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Last Updated on November 30, 2020
WARNING: We do not recommend 24Option.com. This is due to a history of fines and sanctions in various countries. Please consider one of the alternative CFD brokers below.
| Broker | Our Trust Score | Sign up |
|---|---|---|
|
www.plus500.com |
90/100 | Start Trading 76.4% of retail CFD accounts lose money. Plus500 Review |
|
www.CityIndex.co.uk |
100/100 | Start Trading 72% of clients lose money. Capital at risk. City Index Review |
|
www.eToro.com |
90/100 | Start Trading 65% of retail investor accounts lose money when trading CFDs with this provider.* eToro Review |
Overview
Risk Warning: Your Capital is at Risk
24Option.com is a multi-asset online platform for Contracts for Difference (CFDs) trading. CFDs are derivative securities that allow customers to gain exposure to the price of financial instruments without actually holding the instruments in their accounts. 24Option.com customers can trade CFDs on stocks, indices, forex, cryptocurrencies and commodities.
24Option.com traders have access to both the company’s proprietary web-based trading platform and the more advanced MT4 trading platform.
Please remember that trading CFDs exposes traders to the possibility of losses, which can exceed deposits. CFD trading is for experienced traders.
This 24Option.com review will cover all of the important details about the broker and discuss its major advantages and disadvantages.
24Option.com – Essential Information
www.24option.com
Indices
Forex
Cryptocurrencies
Commodities
Background
24Option.com is operated by Rodeler Limited, a Cyprus Investment Firm. The company also owns the 24FX brand in its portfolio.
Rodeler Limited has an office in Limmasol, Cyprus and is authorized and regulated by the Cyprus Securities and Exchange Commission (License Number 207/13) since July 11, 2020.
The MiFID Directive provides a passport, which allows the entity to operate throughout the European Union. 24Option.com is also duly registered with the competent regulatory authorities in each of the EU countries in which it operates.
Richfield Capital Limited belongs to the same group of companies as Rodeler Limited and shares the 24Option brand. The International Financial Services Commission (IFSC) of Belize regulates Richfield Capital (License Number IFSC/60/440/TS/17.
24Option.com offers customers dedicated 24/5 customer support in 19 countries. Traders can contact 24Option.com customer service by phone, email, web contact form or live chat. Traders can view the 24Option.com website in 12 languages.
Where Does 24Option.com Operate?
24Option.com is available in the following countries:
- Austria
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- The Netherlands
- United Kingdom
IMPORTANT: CFDs are not available in the USA due to local regulation, and this regulated CFD broker does not accept US citizens or US residents as clients.
- English
- French
- German
- Italian
- Spanish
- Russian
- Arabic
- Portuguese
- Swedish
- Dutch
- Norwegian
- Polish
Can I Trust 24Option.com?
24Option.com is regulated in multiple jurisdictions the Cyprus Securities Exchange (CySEC) and the International Financial Services Commission (IFSC) of Belize.
However, the company has a recent history of fines and sanctions from some of the leading international regulatory agencies.
On January 27, 2020, CySEC fined Rodeler Ltd. a total of €156,000 for multiple violations:
| Violation | Fine Amount |
|---|---|
| Non-compliance with Section 28(1) of the Cyprus Investment Firms law:
|
€10,000 |
| Failure to take reasonable measures to avoid any unjustified aggravation of the operational risk in the outsourcing of activities or business operations to third parties. | €20,000 |
| Failure to adhere to the interests of clients when providing bonus promotions | €60,000 |
| Failure to inform potential clients about the nature of inherent risks associated with trading binary options | €15,000 |
| Failure to assess the eligibility of its clients to engage in investment activities. | €40,000 |
| Lack of ability of the company’s systems and procedures to adequately identify clients | €10,000 |
| Lack of compliance controls | €1,000 |
On August 1, 2020, Autorité des Marchés Financiers (AMF), France’s securities authority, banned 24Option from operating in France. AMF lifted the ban in June 2020.
24Option.com is regulated by two regulatory bodies:
| Regulator | Countries Covered | Protections Offered | Additional Protections Offered |
|---|---|---|---|
| Cyprus Securities Exchange (CySEC) | Austria, Belgium**, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France**, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, The Netherlands, United Kingdom |
CySEC also offers a provision of services to certain countries outside of the EU.
** Although CySEC covers the above countries, Rodeler does not provide services to France and Belgium.
The Cyprus Securities and Exchange Commission (CySEC) is the financial regulatory agency of Cyprus.
Cyprus is a European Union member and is a financial services industry hub. Customers in countries regulated by CySEC are eligible for compensation of up to €20,000 if 24Option.com fails.
International Financial Services Commission (IFSC): This regulatory body has the power to license international financial service providers, develop a statutory code of conduct and ensure compliance with internationally-accepted best practices.
Who Runs 24Option.com?
Rodeler Limited, the company that owns the trading name 24Option.com, is a privately held company.
- Harris Georgakis – Executive Director
- Demetrios Leontis – Director
- Ioannis Ashiotis – Director
- Michael Christoforou – Director
- Petros Hadjikyriacou – Director
24Option.com Trading Products
24Option.com offers its customers financial instruments to trade that span five categories: stocks, indices, forex, cryptocurrencies and commodities.
1) Stocks
24Option.com offers its customers shares trading in over 100 of the leading companies in the United States, Europe and Asia.
2) Indices
24Option.com offers CFD trading on the following commodity and country indices:
- TADAWUL
- USO
- UCO
- TA35
- OMXS30
- DOW
- S&P500
- DAX
- FTSE
- MIB
- EURO STOXX 50
- NASDAQ
- ASX
- JSE
- US INDEX
- CAC 40
- IBEX
- NIFTY
- H-SHARES
- HANG SENG
- NIKKEI
3) Forex
24Option.com offers trading on major, minor and exotic pairs:
- EUR / USD
- GBP / USD
- USD / JPY
- USD / CHF
- USD / CAD
- AUD / USD
- NZD / USD
- EUR / GBP
- EUR / CHF
- EUR / JPY
- AUD / CHF
- AUD / CAD
- AUD / JPY
- AUD / NZD
- CHF / JPY
- CAD / CHF
- CAD / JPY
- EUR / AUD
- EUR / NZD
- EUR / CAD
- GBP / AUD
- GBP / CAD
- GBP / CHF
- GBP / JPY
- GBP / NZD
- NZD / CAD
- NZD / CHF
- NZD / JPY
- EUR / DKK
- EUR / HUF
- EUR / NOK
- EUR / PLN
- EUR / TRY
- USD / DKK
- USD / HKD
- USD / HUF
- USD / MXN
- EUR / SEK
- USD / NOK
- USD / PLN
- USD / RUB
- USD / SEK
- USD / SGD
- USD / TRY
- USD / ZAR
- USD / INR
4) Cryptocurrencies
24Option.com offers trading in nine cryptocurrencies against USD, EUR and GBP:
| Cryptocurrency | Currency Traded Against |
|---|---|
| Bitcoin | USD, EUR, GBP |
| Litecoin | USD, EUR, GBP |
| Dash | USD, EUR, GBP |
| Ethereum | USD, EUR, GBP |
| XRP | USD, EUR, GBP |
| Bitcoin Cash | USD, EUR, GBP |
| Ethereum Classic | USD, EUR, GBP |
| Bitcoin Gold | USD |
| Monero (XMR) | USD |
5) Commodities
24Option.com offers trading in CFDs based on the following commodities:
- Cocoa
- Corn
- Wheat
- Coffee
- Soybean
- Palladium
- WTI Crude Oil
- Natural Gas
- Gasoline
- Brent Crude
- Sugar
- Platinum
- Copper
- Cotton
- Frozen Concentrated Orange Juice (FCOJ)
24Option.com Account Types
24Option.com offers four types of live trading accounts as well as a demo account. When you sign up for an account, the system defaults to a Basic Account, but traders can contact customer support about upgrading.
After you select an account, 24Option.com asks you to complete the registration and get a €100,000 demo account:
| Basic | Silver | Gold | Platinum |
|---|---|---|---|
| Platform introduction | Platform introduction | Platform introduction | Platform introduction |
| Dedicated account manager | Risk management explanation | Risk management explanation | Risk management explanation |
| Webinars and seminars | Dedicated account manager | Dedicated account manager | Dedicated account manager |
| Financial market introduction | Webinars and seminars | Webinars and seminars | Webinars and seminars |
| Demo account 100K | Financial market introduction | Financial market introduction | Financial market introduction |
| Daily market brief | Demo account 100K | Demo account 100K | Demo account 100K |
| Daily market brief | Daily market brief | Daily market brief | |
| Sentimental, fundamental, technical analysis one on one tutorial | One on one MT4 course | One on one MT4 course | |
| Short, medium, long term explanation of common trading strategies | Sentimental, fundamental, technical analysis one on one tutorial | Sentimental, fundamental, technical analysis one on one tutorial | |
| No maintenance fees | Short, medium, long term explanation of common trading strategies | Short, medium, long term explanation of common trading strategies | |
| Max lot | No maintenance fees | No maintenance fees | |
| Max lot | Max lot | ||
| Trading central | Trading central | ||
| Free withdrawal | Spreads | ||
| Free withdrawal |
The 24Option.com document Rodeler Limited – Client Agreement notes that the company may offer different types of Trading Accounts from time to time and that the features and characteristics of these accounts (such as spreads, fees and charges) may change. The company can alter the characteristics and features at any time. The website does not list minimum deposits required to open the above accounts. 24Option.com asks that traders contact a Customer Support professional to receive details about each type of account.
24Option.com Spreads and Fees
The Rodeler Limited – Client Agreement notes that all CFDs and Forex trades have spreads that appear on the trading platform. This agreement also notes that 24Option.com has the right to amend these spreads at its discretion from time to time. The broker notes that any such amendments will show up on the trading platform or the website.
24Option.com also notes that the type of trading account the trader hold can affect the spreads offered for a particular financial instrument. Traders are encouraged to speak to Customer Support for details about the features of each account.
The trading platform provides a spread for each financial instrument. However, the website does not list minimum spreads for each instrument the way many other forex and CFD brokers do.
24Option.com obtains its market data from reputable third-party sources, which obtain the data directly from exchange feeds. 24Option.com receives its compensation through the market bid/ask spread.
24Option.com lists other relevant fees for 24Option.com clients on its website.
Commission Fees: 24Option.com DOES NOT charge commissions to clients. Rather, the company receives its compensation through the (bid/ask) spread on each financial instrument.
Deposit Fees: The broker DOES NOT charge deposit fees to clients.
Withdrawal Fees: 24Option.com does charge withdrawal fees to clients. Please see the 24Option.com Withdrawals section below for details on these fees.
Financing Fees: The broker DOES NOT charge financing fees to clients.
Dormancy Fees: If a Trading Account is inactive for three months or more, 24Option.com reserves the right to charge a monthly account maintenance fee.
The exact fee schedule is calculated according to the currency denomination of the Trading Account:
- 85 EUR
- 85 USD
- 85 GBP
- 10,400 JPY
- 250 TRY
- 90 CHF
- 550 CNY
- 5,750 RUB
The company reserves the right to change these dormancy fees and will notify clients if it does so.
Account Requirements
24Option.com serves clients across Europe and the world. The system will default to your country of origin when you go to open an account. Before you can trade with 24Option.com for the first time, you need to answer a few questions.
After entering some basic information (name, email and phone number), the system guides you through a series of multiple-choice questions about your trading and educational background.
After completing this information, traders have to complete two more steps:
- Complete the 24Option.com verification process
- Fund their account with a deposit
To pass the broker’s identity verification, you will need to upload both an ID and proof of identity document. Completing the verification process may take additional time, so traders should not expect to trade immediately. However, traders can make deposits prior to this approval, and 24Option.com will hold the deposit. The 24Option Verification Center asks traders to upload the following documents:
| Document | Commentary |
|---|---|
| Proof Of Identity |
(24Option.com requires copies of both sides of the Passport or other document if there are details on both sides).
Traders can upload the verification documents on a mobile phone.
Traders can make deposits by a credit card, OKPAY, Neteller, Skrill, Perfect Money, Alternative Methods (PAYSAFECARD) or wire transfer.
To deposit money, traders click on the Deposit tab after opening an account. Traders then select the deposit method of their choice, fill in the required information and click the yellow “Submit” button. 24Option.com doesn’t list minimum deposit amounts on the site.
According to the Rodeler Limited – Client Agreement, 24Option.com has different maximum leverages that apply for individual products and individual traders (depending on their knowledge and experience level). Traders should consult this document for specific product leverage allowances. Some leverage allowances also vary by country.
The client agreement also notes that each CFD and type of account also has specific 24Option.com margin requirements that traders must maintain. Traders who fall below the 24Option.com margin requirements risk receiving a margin call and having their position closed prematurely. The broker advises that traders can get updated margin requirements by logging on to the platform or by calling Customer Support.
24Option.com Withdrawal
To withdraw funds from your 24Option.com account, you need to submit a withdrawal request through the menu option on the main screen. Once your withdrawal request is approved, 24Option.com processes it and sends it to your preferred destination.
To make a withdrawal, the customer must first verify the account by providing a copy of a government-issued identification such as a passport or driver’s license, proof of residence (such as a utility bill) and a copy of both sides of their credit card if they choose to receive the withdrawal by credit card. Each time customers select a new payment method, they have to repeat this process.
24Option.com processes withdrawal requests during normal Cyprus business hours. The website notes that it doesn’t normally charge a fee on the first withdrawal and that Gold and Platinum members receive discounts on withdrawal fees. 24Option.com asks customers to visit the VIP accounts page or contact their account manager for more details.
The following fees apply for most withdrawals:
| Method | Fees |
|---|---|
| Credit Card | 3.5% |
| Wire Transfer | 300 JPY 20 CHF 30 USD 24 EUR 1,800 RUB 183 CNY 20 GBP |
| Ewallets:
|
3.5% 2.0% 0.9% |
These fees seem excessive given that many CFD brokers don’t charge withdrawal fees.
24Option.com Platform Review
This review will cover the 24Option.com web-based proprietary trading platform. Traders also have the option of downloading the MT4 platform that has become standard with many sophisticated online brokers.
Keep in mind that MT4 offers traders a lot more bells and whistles than the in-house platform including access to dozens of technical indicators for charting and analyzing technical trading levels. However, the proprietary 24Option.com platform has some appealing features to recommend it.
The platform’s black background and green and red color scheme is both visually appealing and useful for trading. Traders can use the directionally- coded colors to easily spot which instruments are moving up and which are headed lower.
One of the first things most traders will notice is the prominent buy and sell buttons in the middle of the screen.
The ticket is great for new traders because of its highly intuitive features. Traders can adjust quantities on trades through the arrows next to the volume button. The ticket also has some other features that can help a new trader develop the discipline needed to be successful:
Open Trade When Reach: Traders can set levels for when they want 24Option.com to execute their trade. This can help new traders who may be overwhelmed following and keeping track of the price action on multiple instruments.
Close at Profit and Close at Loss: Traders can set stop/loss and/or take profit levels for trades. Again, this feature is great for market newcomers. It prevents traders from letting a trade get away from them and creating an unintended result.
The 24Option.com platform offers adequate but underwhelming chart capabilities. For beginners, it may suffice, but more advanced traders will find the simplicity and limitations of the charting features to be lacking:
Traders can pull up charts on multiple time frames in candlestick, line or OHLC (Open, high, low, close) formats. However, there is virtually no advanced charting analytics available with this system. Of course, more advanced traders are likely to download MT4 if they sign up with 24Option.com.
The platform offers many of the standard features for tracking open and closed positions. Traders can use the windows in the panel at the bottom of the screen to track their orders:
The platform provides complete and thorough data for the trader to track open trades. Traders can see stop/loss levels, profits and times traders were entered and executed. Other tabs allow the trader to set alerts and follow key market events through the economic calendar tab:
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Overall, the 24Option.com proprietary platform is an adequate, visually appealing and intuitive system for beginner and intermediate traders. The system complements the more sophisticated offering of MT4.
24Option Demo Account
Traders can easily toggle back and forth between the demo and the live trading environments on 24Option.com through the buttons on the top of the trading screen. Traders who sign up for the demo account receive €100,000 in virtual trading funds.
The demo platform looks like the live trading screen and appears to offer the same functionality.
24Option.com Education Resources
24Option.com has an Education section on its website that offers several market and educational resources to help traders improve their skills. These include the following:
Financial News Headlines: A newsfeed showing the leading financial stories from different economic regions of the world.
Daily Market Analysis: Charts with technical analysis and comments about directional biases for different securities.
Trading Central: This is an investment research provider to financial market professionals. The service covers trends, pricing and market history and allows traders to identify trading opportunities.
Economic Calendar: A chronological list of the important upcoming announcements in each country with actual, forecast and previous data for each release.
Trading Strategies: Two briefs describing and differentiating between technical and fundamental trading.
Video on Demand (VOD): This section of the website has short videos on topics of interest to traders of all levels. Videos cover forex and other CFDs. Some sample topics include Types of Orders, Capital Management and Basic Technical Analysis.
Webinars: 24Option.com periodically holds free webinars on topics of interest to the trading community.
24Option.com Sign-Up Bonuses and Promotions
As 24Option.com’s headquarters are based in Cyrpus, it falls under the legislation outlined by The Markets in Financial Instruments Directive (MiFID). Therefore, 24Option.com is unable to offer sign-up bonuses because MiFID believes this offers traders more protection and increases the transparency of brokers.
Should a broker, who is located within the EU, offer a sign-up bonus, this means they’re either unrelegulated in the EU, aren’t regulated at all or aren’t operating legally.
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