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24option - Broker Review and Trader Feedback

regulation
Regulated by CySEC
(license 207/13)
region
Accepts traders from
United Kingdom
rating
4.4
/ 5
Rating: 1
Reviews: 2
bonus
Free educational materials
Register within 10:00 minutes and receive a gift
24option is one of the largest European brokers specializing in binary options. This company is proud of the transparency of their trading platform and has the highest trading limit in the industry of $50,000 per trade. 24option.com offers the following types of contracts: standard binary, ‘touch’, ‘interval,’ and 60-second options. In Europe, 24option is regulated by CySec (license number 207/13) and follows the norms and regulations of MiFID. Binary options traders in dozens of countries around the world agree that this company’s trading platform is the most comfortable one among those available on the market today. Full review
regulation 1
24option is regulated by the CySEC (license 207/13) and follows the rules and guidelines of MiFID.
regulation 2
Client funds are stored in European banks separately from the company's own funds.
Awards and sponsorship
rewards
Trading conditions
Tradable assets:
Option profitability:
Minimum deposit:
Minimum trade amount:
103
up to 89%
$200
$25
Demo account:
Online registration:
Call support:
Chat with support:
yes
yes
+44 161 960 0200
yes
Tradable assets:
103
Option profitability:
up to 89%
Minimum deposit:
$200
Minimum trade amount:
$25
Demo account:
yes
Online registration:
yes
Call support:
+44 161 960 0200
Chat with support:
yes
Deposits and Withdrawals
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Review of 24option
Broker rating: 4.4 / 5

1. General information

24option is one of the biggest binary options brokers in the world and is regulated by the EU and also follows the norms and requirements of MiFID. 24option’s platform allows brokers to use modern trading instruments and to choose from a vast selection of assets. In addition to that, users of this platform can remain mobile at all times and continue trading from anywhere in the world as long as there is an internet connection available.

24option shows their interest in each trader’s success by offering them a variety of useful services. For instance, their learning centre allows access to a lot of information on peculiarities of successful trading, and will allow novice traders to get the basic knowledge to ensure a successful start to their career. All traders can access video lectures, digital books, webinars, and personal training programmes at all times. All lessons are aimed at really wide audiences and can be useful to traders with different levels of experience.

Clients of 24option are offered one of the most modern packages of services in binary options trading, including over 100 assets in four financial markets (currencies, stocks, indices, and commodities). They also have access to different types of options, including turbo options, ‘touch’ options, ‘border’ options and many others.

With a stable reputation and a serious approach to business, 24option have managed to become partners with a number of ‘star’ companies. Among some of the brightest of their partners is the legendary ‘Juventus’ football club.

2. Advantages and Disadvantages

Regulated by the EU: 24option have a valid CySec license and follows the rules laid out in the MiFID directive.

Free trading signals: 24option offers all of their clients free access to trading signals to help them make decisions and better understand the current developments in the market.

Demo-account: The company allows their clients to get themselves acquainted with their trading platform in a risk-free environment.

International awards: The quality of trading services offered to their clients by 24option has gained them numerous awards in the area of finance technologies. Among those, the Forex Magnates 2013-2014 and EGR Operator Awards winner 2014.

Timely pay-outs: The fact that the broker follows the MiFID regulations means that they are obliged to allow their clients to deposit and withdraw money as fast as possible and they show good awareness of the individual needs of each separate client.

Early closing of transactions: This service allows traders to close the trade before the expiration of the option and to gain part of the profit from the trade (between 10% and 70%).

24/7 client support: One can get assistance at any time of the day. Besides, your personal manager will make sure that you fully experience the professionalism in the company’s approach to business.

Relatively high minimum bid: Compared to the average level of the industry's contribution threshold, 24option has fairly high minimums, which stand at $24 per trade.

3. Trading Conditions

This broker offers their clients their own trading platform, which has been developed to meet the requirements of the company and is constantly updated and perfected. With a minimum deposit of $200, this company is closer to the industry’s higher end of deposit requirements; however, the fact that they also offer a demo account, which means that one can get oneself acquainted with the platform in a risk-free environment, balances this out. A minimum bid on this platform is $24, which is also quite high compared to some of the “low-cost” brokers. That is why it is advisable to start live trading with relatively low-volatility assets, or a higher working capital

4. Tradable Assets

24option offers its traders over 100 different assets, including currency market instruments, commodities, stocks of largest international companies, and also some of the most important worldwide indices. This allows one to place diverse bets on macroeconomic events and respond to global market trends. Experienced forex traders will appreciate the variety of currency pairs, which involve the classic EUR/USD, USD/JPY and USD/GBP, as well as the more exotic ones - for example USD/MXN, NZD/CHF or CAD/JPY.

5. Trading Platform

Contrary to most of their competitors, 24option have chosen not to integrate ready-made technical solutions into their platform. Instead, they have created one of their own, which, according to the broker, is user-friendly, efficient, and keeps your funds safe.

24 option offer four types of option contracts: ‘higher/lower’, ‘one touch’, ‘border’, and 1 minute contracts:

  • The ‘high/low’ option is one of the most popular ‘classic’ binary options. In this case, a trader forecasts whether the price of a core asset at the time of expiration is going to be higher or lower than at the time of entry. If the forecast turns out to be correct, one’s profit will reach up to 89% of the bid.
  • In the case of the ‘one touch’ option, the success of the trade is determined by whether the price of the core asset reaches a certain predetermined level and allows one to trade on the degree of volatility of market prices.
  • ‘Border’ options are, by nature, similar to the ‘one touch’ ones. However, in this case the price needs to reach the predetermined area.
  • And finally, the 60 second option is good for those who are confident about their trading skills and want to make profit from the smallest fluctuations of market prices.

6. Types of Accounts

24option offers three types of accounts which are all aimed at different categories of traders: a ‘Standard’ account for novice traders, a ‘Gold’ account for experienced traders, and a ‘Platinum’ account for those absolutely confident in their skills and planning to operate with larger sums of money.

All clients of the company, including those who open a ‘Standard’ account, have access to all functions of the platform and also to all asset categories. Moreover, all clients have access to training materials of the company, and can also benefit from free client support, which is not such a common thing among binary options brokers.

‘Gold’ and ‘Platinum’ account owners can also get some more personalised services, such as personal financial advisory and priority technical support. In addition, VIP accounts offer higher profitability levels for each trade with a 2% addition for ‘Gold’ account owners and 4% for ‘Platinum’ clients.

7. Deposits and Withdrawals

One can apply to register with 24options through the company’s home page by filling out a form with their personal information at the top of the page and by confirming their age (one needs to be older than 18). Fund deposits and withdrawals can be done in a number of ways, involving various credit cards and digital wallets, such as Skrill (Moneybookers) and MoneyGram. Bank transfers are also possible. For the latter, one needs to get in touch with the support services for detailed information about the minimum deposit amounts for bank transfers. Both deposits and withdrawals are possible in several currencies: USD, GBP, EUR, and JPY.

In order to withdraw funds, one needs to fill out a form under the ‘finance operations’ tab of their personal account area. It is worth paying attention to the fact that following the policy of the company, funds can only be withdrawn to the accounts that one had used to make a deposit. This minimizes the risk of having one’s funds withdrawn by third parties. In accordance with the current legislation and MiFID policies, in order to withdraw funds, one needs to provide a copy of an ID document, a copy of a document confirming your current place of residence, and also a copy of both sides of the credit card (if funds are being withdrawn to a card). 24option does not have a cap on withdrawals, so the possible amount of withdrawal is only limited by the current state of your trading account.

8. Regulation

Thousands of traders all over the world highly appreciate the fact that the 24option is fully regulated by CySec (license number 207/13) and is licensed according to the EU norms and policies. Such oversight means that the company is obliged to follow the standards of services and transactions following the EU financial legislation.

9. Trader Training

Arguably one of the major strengths of 24option is their approach to the development of trading skills of their clients. Each trader can access free training materials which involve regular webinars, books on the art of trading, interactive online manuals, and also a series of video lessons. On top of that, each client is offered to test their trading strategies with the help of a demo account. This way, one can improve their skills and get used to the platform without having to risk their personal funds straight away.

10. Should I Trade with 24option?

Bearing in mind that for some years now, 24option has been setting the industry standards, one would really struggle to find ways in which it would be inferior to its competitors. Up until now, 24option has been the leader on the binary options trading market. The company values comfort, security, and speed of transactions, which means that the clients of 24option will benefit from the high quality service in a stress-free environment.

Reviews on 24option

Comments about 24option
( 2 )
User rating: 4.4 / 5

Comments: 2

  1. avatar
    Pierre
    14/03/2016

    Can I trade pair options on this platform? THanks

  2. avatar
    GeorgetheSecond
    14/03/2016

    Registered an account yesterday, waiting for the deposit to show up inside my personal dashboard, will report on the trading experience once I get a chance to try it out.

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