24 options are the most popular brokers on the market and offer a useful demo account to try out your trading platform risk-free. Minimum deposit requirements are higher than other brokers, but not a problem if you are serious about the deal. 24option has been serving traders for many years and has a solid track record to prove that it is not a scam. We do not accept US customers at this time.
24Option is owned by Rodeler Ltd, based in Limassol Cyprus. Certified by License No. 207/13 by the Cyprus Security Exchange Commission (CYSEC).
In 2017, 24Option modified the service. It no longer offers binary options and focuses solely on Forex and CFD trading.
24 options from financial platform provider TechFin and develop a new custom platform. The new proposal also sees a transition to forex and CFD trading, and the company already offers a forex pair that includes Bitcoin. With the recent growth in crypto trading, the company added Bitcoin pairs as soon as possible.
Exchange
The 24Option trading platform is quite original even in the general world of binary, forex and CFD trading. The interface of the platform is designed for the brand, so the usual red and green trading buttons have been replaced.
However, this type of customization does not affect the usability of the platform. The transaction type is available in the top left menu. Please choose from the following:
- Forex
- CFD
Then the associated property is shown below. Select one of these updates relevant payout information and price chart on the right. The trading area is well organized so you can use a lot of data at once, but it’s still clear and easy to use.
Public and private transaction history is available in the trading area, where performance is continuously updated.
Signals
The trading platform also provides users with access to 24Option signal services. Traders sentiment bars are used to help traders decide. The demo video at the end of this review shows you how to get the most out of these features. Signaling services must be treated with a certain degree of care, especially if provided by a broker. However, it can be an additional tool to check or cancel specific transactions.
24Option signals are called ‘Trading Alerts’ and are displayed with ‘Public Trades’ and ‘Trading History’ tabs.
Payout
More than 24 different underlying assets are offered, so traders at 24Option have a choice. They can choose from 43 stocks, 11 commodity-related options, 30 currency pairs, and 19 market indices.
For Forex and CFD trading, the payout depends on the price change of the underlying asset. Traders can take advantage of leverage to manage their risk and payouts. Margin trading can increase profits, but the same can speed up losses, so be careful when using it.
Regulation
In addition to being regulated and licensed by CYSEC, 24Option is also registered with other European regulators such as the Autorité des Marchés Financiers (AMF) in France, BaFin in Vietnam, Consob in Italy and the Financial Conduct Authority in the UK (FCA). .
The main benefit of dealing with a regulated broker is the fact that if there is a dispute between you and the broker, you should always ask someone to resolve the dispute. Another factor to put a lot of focus on the seller’s mind when choosing a broker is the ability to claim compensation if the broker goes bankrupt. With 24Option, traders are members of the Investment Compensation Fund program, so don’t worry. The fund has granted traders the right to charge fees up to 20,000 euros.
Mobile app
The 24Option app is a smart and easy to use mobile trading platform that can be used on Android, iOS or Windows and it is free.
The application has a clear and simple interface and an intuitive trading process. The screen and buttons are easy to use without the risk of mistakes due to large size or hard to find buttons. In addition to simple transactions, the app displays public and private transactions and updates in real time. The trading app adds significantly to the range of features offered by 24Option. Each instance is built to get the most out of multiple devices, so Android, Windows, and iPhone users have a personalized experience.
Withdrawal
24 withdrawals are refunded to the deposit source. Therefore, you can only return the payment in the same way as the deposit. This is a common situation and is actually a safeguard to protect traders from fraud.
For the same reason, the company requires proof of a valid address and form of identification before withdrawing funds. This is to comply with money laundering laws. If you deposit with a credit card, you will need that card’s details when you withdraw later.
Withdrawal complaint
Complaints or unsubscribe problems are often caused by delays in the identification process. Therefore, all these details must be submitted early before requesting a withdrawal. This reduces the possibility of problems, minimizes claims and ensures quick withdrawals.
Account type
24 options offering different account types. Entering this account depends on your initial deposit. The larger the first deposit, the higher the level of account types that the trader will join. However, traders can always start with smaller deposits and then make larger deposits to increase the account type.
Gold and platinum account holders can get free withdrawals on a regular basis, and regular account holders get their first withdrawal for free. Remaining withdrawals may incur a certain fee, and this number depends on the method used. For example, Skrill will cost 2%. You can request a withdrawal at any time.
New accounts can also choose between Forex and CFD accounts. Bitcoin can be traded through forex pairs.
24option is a scam?
As a regulated broker, 24Option is not a scam. They provide the service they want, the client’s money is kept separate from the company’s money. Regulators are interested in binary options of late and 24Option has supported it. The trading platform is reliable and withdrawals are paid on demand.
Unsatisfied
One of the complaints with 24 options is the “upgrade” practice. The account manager works for the broker who contacts the client and proposes a trade. This often causes overtrading for traders and in somet number of cases beyond that possibility.
Where possible, traders should not let others trade on their behalf and in response to the complaints generated, the binary industry has begun to end bonuses paid to executive account managers. behave this way. Once this is done, it is still a trader and traders should be aware of the risks. If your account manager gives you advice, call and offer a polite thank you.
Bonus
24Option offers a rather unique bonus by moving away from the traditional deposit matching bonus. They offer a variety of ‘Premium Awards’. These are usually ‘tech’ items like an iPad or MacBook.
Like reputable brokers, 24Option allows traders to opt out of bonus offers.
24 option demo
Here is a demo video with 24 options: From choosing an asset and trading type to analyzing charts and determining trading sentiment, here is a demo video detailing how to trade through this tutorial. (“Trading Alerts”);
Review conclusion
From the fact that 24Option is licensed and regulated by CYSEC, we can deduce that this is a legitimate operation. The warm and friendly service provided by them makes a clear change from the cold impersonal service that other brokers are used to providing.
The minimum deposit for those who want to open a live trading account at 24Option is $250. Minimum trade size can be traded at $24 per trade. The services offered by these brokers are very good, but they are distinguished by their regular trading competition. Some offer tens of thousands of dollars to the winners of the contest. Innovative bonuses are also offered and the demo account allows traders to familiarize themselves with the platform before entering the real market.
Benefits
• Bitcoin Forex Trading
• Extensive list of underlying assets to trade
• Professional customer support
• Powerful advanced trading platform
• Multi-language support
• Various benefits and incentives
• CFDs now out of binary options
Disadvantage
• You must first deposit $250 before access to the demo account is granted.
24 reviews optional reviews
Customer Service Rating – 10
• 24/7 support
• Telephone support for 21 countries
• Trading platform translated into 18 languages
Property Selection Rating – 10
• 43 stocks
• 30 currency pairs
• 11 goods
• 19 stats
Deposit Method Class – 9
• Credit
• Bank transfer
• Web wallet
Minimum Deposit – 7
• $250
Minimum Trade Rating – 8
• $24
Trading Ability – 8
• Standard High/Low Binary Options • Binary Options
one touch
• Binary Options Short Term
• Boundary option
Payout rate – 8
• Up to 89%
• 15% Cashback
Ranking Item Bonus – 9
• Maximum Bonus 100% on initial deposit.
Website Invisible Rank – 9
• Regulated by CYSEC
• Demo account
• Property filter provided
• Real-time price feed from Morning Star Quotes
• Intro videos, tutorials and eBooks
• Compete for regular deals with attractive prizes