Owned by Rodeler LTD, 24Option began trading binary options in 2008, and later became a trading platform for CFD and forex. Although the main company is based in Cypress, they also have another company in Belize for international
Their goal is to allow as many people to trade as possible. That's why, in addition to the many trading options they have, 24Option also offers educational materials to help people understand how to trade CFD and forex.
Since its break from binary options trading, 24Option has become a unique broker, enabling both experienced and newer traders to participate. In this 24Option review, we'll give you everything you need to know about this broker and help you decide if they're right for you.
Table of Contents
- 1 Trading Platform
- 2 24Option Account Types
- 3 Assets
- 4 24Option Mobile
Is 24Option Regulated?
- 6 24Option Deposits and Withdrawals
- 7 Supported Currencies
24Option Demo Account
- 9 Max lots, max trade size, leverage, and margins
- 10 Bonuses and Promos
- 11 Education
- 12 Special Features
- 13 Customer Support
Is 24Option A Scam?
Whether you are a novice or a professional trader, you will feel at home trading with 24Option. Where other interfaces have been clunky or unintuitive, 24Option stands out among the crowd. The
MetaTrader 4, shortened to MT4, is one of the most popular trading platforms that people prefer for CFD and forex. 24Option integrates advanced trading tools to the
24Option Account Types
The basic account requires a
Since its introduction to the market, CFD (contract for difference)
Within the CFDs trading options, the services include cryptocurrency trading, commodities, indices, and stocks. Trading in CFDs on 24Option allows you to predict the movement of the market and buy if you anticipate an increase or sell if you foresee a decline.
App Is 24Option Regulated?
24Option Deposits and Withdrawals
Your method of deposit and withdrawal depends on your location. Different countries support different payment types.
24Option allows for a wide range of deposit and withdrawal methods, including credit cards (VISA, Mastercard, and Discover), electronic payments via Skrill, and bank
There is a minimum deposit, but the amount depends on how you fund your account. With credit cards and electronic payments, the minimum deposit is $250, whereas, with a bank wire transfer, you need a minimum of $1,000. They also have a daily maximum of $10,000, and a monthly limit of $40,000.
The withdrawal options are not very different from the deposit choices at 24Option. On the same banking page of the company website, withdrawal options are available depending on
Before completing a withdrawal request, 24Option requires you to provide documents to prove your identity. Verification documents include a driver’s license, the official state identification document, and a current passport. Besides any of these documents, you also need to show proof of your address through a bank statement, a utility bill, or a credit card statement. The minimum amount you can withdraw is $10, and the maximum is the amount you have in your
Even though you can withdraw your funds at any time, 24Option processes withdrawals only during the business hours. Withdrawal fees depend on the kind of account you are operating. For diamond and platinum account holders, the withdrawal fee is free, while those with gold, basic, and silver
Here are the 24Option withdrawal fees:
- Credit/Debit – 3.5%
- Neteller – 3.5%
- Perfect Money/Moneybookers (Skrill) – 2%
- Wire transfers – $30, €30, £30, ₣30, ₽1800, R300
As with many other companies, traders occasionally complain of withdrawal delays. Many of the delays are due to the slow proofing of the identification procedures. The best way to avoid this is to send all your identification details before making the withdrawal request. By communicating the details early, you can minimize withdrawal complaints and ensure faster payment methods.
After registering with 24Option, the first option will be to choose the currency you prefer to use. Unlike many other
24Option Demo Account
Before you start trading CFD or forex, you want to know what you're getting into. Some online brokers offer demo accounts so you can trade with the equivalent of Monopoly money before you get serious about it.
24Option does, too. When you sign up with a Basic account, you get a demo
With a demo
Max lots, max trade size, leverage, and margins
Irrespective of the type of
Bonuses and Promos
Sign-up bonuses are one of the things that make 24Option stand out. Depending on the type of account you open, bonus amounts range from 30% to 100%. The company also provides promotion packages that include a holiday bonus or a deposit bonus, especially when the markets are volatile. Other bonuses include premium prizes that come as gifts such as a MacBook or an iPad.
The company offers traders a deposit bonus under their
You can choose to opt-out of the bonus incentives at any time you want.
24Option has some of the best CFD and forex
The platform is unique in that it was intended to help people trade and invest smarter. These webinars and lessons allow traders to learn more about trading before—and while—they participate in CFD and forex trading. You can even use their advanced interactive ebook to learn more about trading and test your skills.
Their educational materials go beyond the basics, too. For Basic and Gold accounts, you can only access the basic lessons, but as you upgrade your account, you can utilize more advanced lessons. Plus, they have videos on their website for beginning and intermediate traders to watch and learn more about CFD and forex.
One of the most attractive special features that 24Option provides its traders is a practical, economic calendar that they can reference. The calendar allows traders to track important events that can impact their trade decisions. The data is easily viewed by impact, date, currency, forecasts, and actual data.
Another unique feature that sets the broker apart is the simplicity of the platform. Through their famous black theme, 24Option makes it very easy for even those using the platform for the first time to find information and make a trade.
Traders also get the opportunity to study the market behavior using technical analysis tools such as market indicators, graphic tools, and special reports. The technical analysis helps the traders to predict the future trends of the asset they are trading. Alongside the technical analysis, the broker also provides an extensive fundamental analysis that allows traders to study the factors and events that influence the price of an asset.
Here is a short list of some of the other features that come with 24Option:
- Buyback: You can “cancel or terminate” a trade up to 5 minutes before expiration. You won’t get all your money back, but you will minimize your losses
- Demo Account: As stated earlier, this account is great for practicing different trading strategies but is only available after depositing $250
- Financial News Headlines: Stay up to date on all the latest trends in the world
With 24Option, you not only get professional help, but you also get personal assistance. To allow you to access all the information and support you need, the broker provides several options that you can use to contact them. The options include
The contact us page displays a map showing the entire 24Option
Is 24Option A Scam?
Whenever you're dealing with trading and investing, you want to make sure you're using a reputable company on a safe platform. 24Option's practices suggest they are a reliable broker.
When they moved away from binary
24Option is also regulated by two different entities, showing that regardless of where you are trading from, they strive to keep ethical business practices in place. Your account and funding information is secure with 24Option.
Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.