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Beginner’s Guide to 24option: Complete Review

24option delivers an intuitive trading platform with the latest tech and a range of trading choices. One of the goals of 24option is to help the masses trade, whether they are new to trading or experienced professionals. 24option prides itself on offering extensive educational materials, including daily news, webinars, and more.

The vision behind 24option was to make it possible for traders to invest in financial markets via a user-friendly platform. This broker makes a commitment to integrity with four specific points. One focus is connecting opportunities, making it possible for traders to connect with the numerous daily opportunities that arise. 24option also ensures that clients can maintain control, so they drive their own success and delivers freedom of choice with tailored solutions to meet individual needs, unlimited market assets, and more than 100 tradeable assets. Finally, 24option delivers professional and personal support that is there to help clients every step of the way.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.94 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

24option Account Types

There are four types of accounts available from 24option, and you can select the one that best meets your needs. You can choose the right one for you upon registering or just register to start trading. Alternatively, you can consult with an Account Manager who will help you choose an account based on your goals.

Basic Accounts include a platform introduction, a dedicated account manager, access to webinars and seminars, an introduction to the financial markets, a demo account with 100,000, and a daily market brief.

Silver Accounts add an explanation of risk management, no maintenance fees, max lots, and a one-on-one tutorial for sentimental, technical, and fundamental analysis. This type of account also receives explanations of the most common trading strategies that are short, medium, or long, depending on your preference.

Gold Accounts get senior account managers, access to Trading Central, free withdrawals, and a one-on-one course for using MT4. Finally, Platinum accounts get better spreads. It is possible to upgrade your account in the future, with approval from 24option.

To become a 24option trader, you just need to complete registration, which you can do via the homepage. Alternatively, you can click Sign Up in the top-right corner of any page on the website. You will need to make a minimum deposit of $250, and once that transfer is completed, you can begin trading.

24option Asset Coverage

24option offers a range of assets, with a focus on CFDs and forex. CFDs, or contracts for difference, are derivative products that make it possible to trade on the difference between closing and starting values without actually owning the asset. This type of trading also allows for a lower initial investment. To trade one of the CFDs on 24option, you predict the asset’s market movement. Buy if you predict there will be an increase in value or sell if you think it will fall.

The other major category of assets available to trade via 24option is forex. Trading forex is when you buy one currency and sell another at the same time. The goal is to profit from the changing values of the two currencies in question. Because there are huge volumes traded every day in forex, this market has very high liquidity, especially in the case of the major currency pairs. Like CFDs, it is also possible to invest in forex with a small initial investment, but the tradeoff is that you must then use leverage. While leverage can amplify the potential gains, it also magnifies the potential losses. As such, a great deal of skill and knowledge is necessary to trade forex.

Within the category of CFDs, you will find a range of assets available for trading on 24option, including cryptocurrencies. 24option supports trading the five most popular cryptocurrencies as CFDs. Other CFDs include commodities, stocks, and indices.

What Devices Can You Use to Trade with 24option?

24option offers a web trader via its main website. You do not need to make any downloads to use this trader, and you can use any of the popular browsers, provided they have been updated relatively recently. There is support for Explorer 8.0, Google Chrome 4.0, Firefox 3.6, and higher. Keep in mind that viewing all the elements on the website requires you to have Flash player installed, and you will need to enable JavaScript to trade via the 24option website.

Alternatively, you can also use one of the mobile applications to trade with 24option. There are applications for both Android and Apple devices. You can use 24option’s web trader or utilize the MetaTrader 4 platform, which is available for most desktops, browsers, and mobile devices.

24Option Web Trader

The setup of the 24option web trader is similar to other brokers, which makes it easy for clients to figure out exactly how to use it. On the left third or so of the page, you will see a list of assets, each with a column displaying its bid, ask, change, and high/low. You can scroll through the various instruments listed there to find your chosen instrument. Alternatively, you can use the search bar on the top-left corner of this section. Clicking the search bar also lets you filter results by asset type, with divisions for forex, cryptocurrencies, commodities, stocks, indices, and favorites.

The right two thirds or so of the screen shows the expected graph for your chosen instrument, although there is an option to not show the graph and just view the order form. Unfortunately, you can only view either the graph or the order form, not both at the same time.

Below the chart, you will find a list of your open trades, each with its trade number, opening time, symbol, lots, and type. Clicking on the tabs immediately next to the one dedicated to open trades will show you your orders and trade history. A nice touch is that immediately to the right of this is the Economic Calendar, conveniently built into the platform. You can see the date, currency, message, impact, actual, forecast, and previous. To the right of that, you will see the daily market update.

Trading Interface

The default graph type is candlestick, although you can change it to dots, area, line, Heikin Ashi, or HLC. To do this, click the three dots in the top-left corner of the chart. Below the dots, you will see a settings symbol, which lets you customize your chart further.

The same drop-down menu with three dots also lets you select the time intervals on the chart, with options of 1 minute, 5 minutes, 15 minutes, 30 minutes, hourly, daily, weekly, or monthly. This drop-down menu is also where you will find the option to zoom in or out on the chart, which you can also accomplish via a mouse scroll. Other zoom options include zoom left, zoom right, view all, and default zoom. Below these in the drop-down menu, you will find the ability to enable or disable the pointer, delete selected shapes, delete all shapes or studies, or duplicated the selected shapes.

Below this, you will find a wide range of drawing tools, such as rays, lines, extended lines, trend lines, arcs, ellipses, triangles, and more. There are also advanced tools like Fibonacci retracement, Fibonacci time-zones, Fibonacci fans, Fibonacci arcs, Gann fans, Fibonacci extension, time-extensions, Gann squares, cycle lines, and linear regressions. Or you can launch the Indicators Wizard at the bottom of the drop-down menu. The Indicator Wizard lets you set favorites and divides indicators into Trend, Oscillators, Customize, and Bill Williams, with dozens of options.

While the vast array of tools on the graph is a strong point in favor of 24option, traders will likely find it incredibly tedious to scroll through the entire drop-down menu to find the specific tool they want. Other platforms that divide these tools into separate drop-down menus tend to be more convenient.

The top-right corner of the graph offers a full-screen option, but even if you select this, everything remains in a single drop-down menu. The top-right corner of the graph itself shows the open, high, low, and close prices for a point that you hover over. Hovering over any point on the chart will also show you the specific price and time.

How to Trade on 24option

To make a trade, go to the web platform on 24option and make sure the graph is closed so you can view the order form. Select your chosen instrument on the left section of the screen, then fill out the volume you wish to trade (in lots) on the form. As you enter a figure, the pip value to the right will automatically update. Immediately below the volume and pip value, there is the option to “Open trade when rate reach.” Check the box if you wish to open the trade only when the rate reaches a certain point, then adjust the value in the box to the right. Once you do so, you can select Sell or Buy. From there, you have the option to select to “Close at loss” or “Close at profit,” if you wish. Checking either of these boxes will allow you to adjust the measurement to pips or rate and then adjust the figure. Once you are ready, click Trade.

Alternatively, you can choose to buy or sell at the market value. Below the option to “Open trade when rate reach,” you will see a Sell button on the left and a Green buy button on the right. Each shows a value and you can view the pips of spread between them. The value indicates the points that the asset must pass for your trade to be successful. Click on the relevant button followed by Trade to place a trade at the market value.

Mobile Applications

The mobile application from 24option is offered for either iOS or Android devices. Either application offers the same functionality that you will find via the web trader from 24 option along with the Education Center. There are 12 languages available to help appeal to clients from around the world. Use the application to make trades, explore assets, track your trades, analyze past trades, or view breaking news.

Supported Currencies

When you register an account with 24option, you will be prompted to choose your preferred currency for trading. Unlike some brokers, 24option does make it possible to use several different currencies in a single account, a feature that many traders appreciate. You can set the preferred currency of your account to U.S. dollar, Japanese Yen, British Pound, Euro, or Ruble.

24option Deposits

There is a lengthy list of ways to make a deposit with 24option, with slight variations depending on your country. There is support for credit and debit cards, including Visa, Master Card, and Discover. You can also make a wire transfer or Fast Bank Transfer. Other deposit methods include Diners, Switch, JCB, Neteller, Skrill, AstroPay, iDEAL, Qiwi, Sofort, GiroPay, Neosurf, PostePay, and PaySafeCard. To view the specific options for your region, go to the Banking page of 24option, which is found under the Forex/CFD main tab in the My Account subheading. Select your country from the drop-down menu, and you will see a complete list of options for deposits and withdrawals appear, along with the option to read more about each method.

Keep in mind that there is a minimum deposit for 24option based on funding type. For credit cards, the minimum is $100, €100, £100, R1200, or ₽10,000. For electronic payments, it is identical. Wire transfers have slightly higher minimums of $1000, €1000, £1000, R1200, or ₽10,000. There is also a maximum deposit amount depending on the payment method. You have to contact your account manager if your deposit is via wire transfer or electronic payments to get the maximum amount. For credit card deposits, there is a daily limit of $/€/£ 10,000 or ¥100,000 and a monthly limit of $/€/£40,000 or ¥4,000,000. 24option does reserve the right to adjust those values, both for minimums and maximums, at any moment without notice.

Deposits made via credit cards and electronic payments are credited as soon as 24option receives the payment. Wire transfers may take as long as five business days before your account receives the funds.

Deposit Bonus

24option does currently offer a deposit bonus known as the First Deposit Trading Bonus Scheme. The trading bonus is the equivalent of 25 percent or 50 percent of your first deposit or $500, whichever of the two is lowest. You can view the full details of the bonus in the Legal section of 24option or by consulting your account manager.

24option Withdrawals

24option has the same withdrawal options as those for deposit. You can view the specific options for your country on the same Banking page as the deposit methods, but know that they will likely be identical. To make a withdrawal, you just go to the banking page of your account and select Withdrawal. Fill out the form, and then submit it by selecting Next.

As is the case with any other broker, 24option has the policy of processing all withdrawals back to the original payment method. This is to provide protection against money laundering. In cases when the amount of the withdrawal is more than the deposit amount made by credit card, the remaining balance is transferred via a wire transfer.

For further security and anti-money-laundering protection, 24option will request verification documents before you can complete your first withdrawal. This includes an official ID with a picture, such as an official government ID document, driver’s license, or passport that is not expired. You will also need to submit proof of address, such as a utility bill (electricity, phone, or water from the past six months) or a credit card or bank statement. In the case of deposits made via credit cards, you will need to also submit a photo of the front and back of the credit card, showing just the final four digits of the card. If you need to provide documentation, you will receive an email letting you know and providing instructions.

The minimum withdrawal amount from 24option is $10, and the maximum limit is the amount of funds currently in your account. You can make a withdrawal at any time, but 24option only processes the requests during business hours. 24option always strives to complete the withdrawal requests as quickly as possible.

24option Withdrawal Fees

The withdrawal fees from 24option vary based on account type with all withdrawals from Platinum and Diamond Accounts being free. Those with Basic, Silver, or Gold have the following fees depending on the currency in question: 35 USD/EUR/GBP/CHF, 250 CNY, 4,000 JPY, 2,500 RUB, or 100 TRY. If you withdraw via a wire transfer, there will be a fee of 35 USD, 35 EUR, 35 GBP, or 4,000 JPY. Withdrawals via credit card come with a 3.5 percent fee while Skrill (Moneybookers) withdrawals have a 2 percent fee, Webmoney has a 0.9 percent fee, Qiwi has a 3.5 percent fee, and Neteller has a 3.5 percent fee. Intermediary banks may also charge additional fees.

24option Fees

24option also charges inactivity fees for accounts that do not have any transactions for a period of two months or more. Transactions include deposits, withdrawals, and trades. The fee for two to three months of inactivity is 80 EUR, which rises to 120 EUR for three to six months and 200 EUR for more than six months of inactivity. If the client’s currency is not in Euro, then they will be charged the equivalent based on the exchange rates of that day.

There are also monthly maintenance fees of 10 EUR. If you are charged an inactivity fee, this replaces the maintenance fee. 24option does not charge any fees for deposits, commissions, or financing.

Max Lots, Max Trade Size, Leverage, and Margins

Regardless of account type, 24option has a margin call level of 125 percent and a stop out level of between 20 and 100 percent. The maximum trade size for forex pairs is either 30 or 10 lots, and you can view a full list of which forex pairs fall into which category on the relevant page in the Legal tab of 24option. For stocks, there is a maximum trade size of 10 lots and default leverage of 10. For indices, these figures are 3 and 50, respectively.

Personal Information

24option relies on the least high-tech techniques available to protect the private information of clients at all times. All transmissions are secured via a 128-bit SSL encryption certificate that Thawte provides.

CFD Strategies

In addition to the extensive education section, 24option also has a separate page of its website where the broker outlines some of the basic strategies for CFDs. The basic strategies include focusing on just a few markets at first, preferably just three for beginner traders. By following this strategy, you can eventually become an expert in a given market.

Another strategy is determining the best timeframe for you as some traders prefer long time frames while others prefer short ones. Long-term traders of CFDs will focus on monthly or weekly time frames while short-term traders look at daily movements or those that are even smaller, such as within minutes. You should choose the time frame that works best with your personality.

The final basic strategy that 24option reminds traders to consider is to always have a trading plan. This means completing research before going into a market, so you know if you want to go short or long and why, as well as the amount of capital you wish to risk and where you plan to enter or exit the trade. Having a strategy in place lets you minimize the risk and reduces the chances of mistakes due to fear or greed.

Forex Strategies

As is the case with CFDs, 24option has a short page of its website dedicated to forex strategies. The advice begins by suggesting that you select a period of time during which you will trade and then select the currency pairs that are most active within that period. Those who trade forex full-time will likely want to choose hours that correspond to U.S. trading times as that is when the USD pairs will be most active. If you do not have that luxury, you will need to evaluate which pairs are most active during the time you can dedicate to trading. This will likely come down to what markets are active during your trading time, based on time zones.

With forex, you should consider opting for longer time frames for trades, at least days or weeks. This is particularly smart for those who are part-time traders since you will not be able to watch the market 24/7. Even those who can trade forex full-time will appreciate that focusing on long-term forex trades gives more time to research and analyze.

Finally, as with CFDs and any other type of trading, you should always have a plan or strategy in place when trading forex. This plan should include the direction you will trade, the reasons for your market predictions, and your entry and exit points. Don’t forget to also include a stop loss level in case the trade doesn’t work out as you hoped.

What Other Trading Strategies Does 24option Explain?

If you go to the Education section of 24option, you will also find explanations for other trading strategies, specifically technical and fundamental analysis. In each case, you will find a description of the type of analysis and a quick guide to indicators or factors that help you accurately use the given method.

Educational Materials

In addition to the previously mentioned guides to trading strategies for CFDs and forex, 24option also offers a glossary for CFDs so you can familiarize yourself with all the terms that you will come across during research and trading. There is also a guide to cryptocurrencies, including a brief history as well as overviews of the most common cryptocurrencies (and those that 24option offers as crypto CFDs). This guide also features a quick overview of the cryptocurrency market and trading cryptocurrencies with 24option.

One of the best educational materials from 24option is its interactive eBook that delivers a visual guide to CFDs and forex. It has a range of topics, including a comprehensive glossary, trading strategies, market analysis, and trading psychology. There are even quizzes at the end of the chapters to let you test your knowledge. For those who prefer learning via videos, 24option has a very nice selection of videos on demand for all skill levels in a range of topics, including series for CFDs, forex beginners, forex intermediate traders, and a forex intro. Account holders can also take advantage of free webinars from 24option to hone their skills. These webinars cover a range of topics and encourage questions.

What Other Tools Does 24option Offer?

24option also has a news feed that includes daily market reports for various major markets and specific assets, as well as other relevant news that can impact forex and CFDs. You can alternatively look at the daily financial news, which includes both written and video summaries of the financial headlines for the day. Unsurprisingly, 24option has an economic calendar displaying the date, currency, message, impact, actual, forecast, and previous figures for each event.

Users with access to Trading Central get to take advantage of Advanced Market Analysis for historical and real-time information that can help traders find trends and patterns. The database in Trading Central has more than 8,000 assets, including forex, stocks, and commodities, all with commentary and data. You can set up alerts for updates on your favorite assets, view detailed technical analysis reports, utilize indicators, and use Japanese candlestick signals.

24option Customer Support

As mentioned, 24option strives to always provide personal yet professional support. As such, there are multiple contact options, including live chat via the website, email, or phone. As you navigate the 24option website, you will notice an icon for the live chat always is in the bottom-right corner of the page for convenience. Or visit the Contact Us page and fill out the form to receive a response via email.

Visiting the Contact Us page will show you a map of the world with pins marking customer support for each region or country that 24option serves. Clicking on any of these pins will display the specific website for that region, the email address, and the phone numbers, including separate numbers for general phone, fax, customer service, and affiliates. Alternatively, you can select your country from the drop-down menu directly below the map, which will take you to the appropriate pin on the map and display the same information.

24option Location and Regulations

24option is governed by two regulators – Rodeler Limited is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 207/13.

Rodeler is licensed by CySEC to offer the following Investment and Ancillary Services:

  • Reception and transmission of orders in relation to one or more financial instruments
  • Execution of Orders on Behalf of Clients
  • Safekeeping and administration of financial instruments, including custodianship and related services
  • Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction
  • Foreign exchange services where these are connected to the provision of investment services

Richfield Capital Limited is regulated and authorized by the International Financial Services Commission of Belize under license number IFSC/60/440/TS/18. The company is located in Unit 313 at No. 16 Cor. Huston and Eyre Street, Blake Building, Belize City, Belize. The payment agent for Richfield Capital Limited is Wonderbridge Services Limited.

Due to legal regulations in various jurisdictions, 24option does not offer services to those within Switzerland or the European Economic Area. Additionally, it will not operate in the United States, British Columbia in Canada, and select other regions.

Conclusion

24option is a broker that offers its own trading platform via the web or mobile devices or works with MetaTrader4. They focus on CFDs, cryptocurrencies and forex, offering CFDs for a wide range of assets, including multiple cryptocurrencies.

This broker was founded in 2009 and is regulated to instill confidence in traders and has an intuitive platform with a range of assets and vast educational resources.

The trading platform is very well designed and one of the best we have seen with this type of broker, experts and beginners alike should have no trouble navigating it and making their trades.

Reading reports online from 24option customers suggests that they have good customer support which is fast and responsive to any questions you may have.

As always when trading CFDs, you must cautious and employ and a trading strategy as its possible to lose money with this type of trading, especially when using leverage.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.94 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Is 24Option Scam? Broker review

On the web, you can find a lot about 24option. It is no surprise, because according to the statistics, 24option is the 2nd largest binary options broker in the world (Banc de Binary is 1st) However in this review, we will show you all information combined, making a big list of reasons why 24option is a scam or not.

24option is a binary options broker established in 2020 with headquarters in Limassol, Cyprus . Some may think this is s red flag, but, in fact, that is completely normal for binary options brokers. Most of them have their headquarters in Cyprus, because of regulatory purposes.

24option basic info

  • Official Website: www.24option.com
  • Headquarters: Limassol, Cyprus
  • Trading Platform: Tech Financials
  • 2nd largest binary options broker

Why is 24option scam?

I’ve read many complaints against 24option, saying that they scam people, they never let you withdraw your earned money, or even they lie about giving you free money and such. Those are all invalid reasons. Read on to see what I mean.

People complain, that they were offered free money (24option bonus) but then when it came down to paying customers out, there were problems. Yes – this situation can occur. But only if a customer has accepted a bonus AND has not completed all procedures needed for the bonus to be withdrawn. In order to withdraw money including the bonus offered by 24options, a customer is required to:

  • Upload necessary documents to prove the customer is, in fact, the person they claim to be
  • Complete wagering requirements (40x the value of the bonus)

If any of the above is not met, the withdrawal of the bonus funds is not possible. If you have this kind of problems, please, contact the customer support.

Another reason why clients might complain and dislike 24option is: losing their money. Trading binary options simply involves risk. Everyone should know that. It is an investment, with which your money is at risk if you do not invest (make trades) wisely. If you do not know what you are doing, please, learn something about binary options first and try trading on a demo account. You can do that either with 24option, but also with our demo account: x Binary Options Demo.

24Option regulations

24Options are regulated by important regulatory authorities of the world including the FCA in the United Kingdom, CySEC, Financial Market Authority and more. The complete list of regulators, that have approved trading with 24options can be found below – all of these official authorities have said “24Option is NOT a scam,” and gave them regulations.

A list of regulations found at www.24option.com

Their platform (Tech Financials)

Tech Financials is a platform programmed by a third-party company that creates binary options trading platforms not only for Banc de Binary but also for other brokers. 24Option is, however, one of the few brokers that use this platform.

This means that trading program, where traders make all the trades is not programmed by the broker itself, but by a different company. In the company’s intents is to make the platform as good as possible, in order to sell it to their clients (24option). If it was any sketchy, they would not buy it.

24option’s platform had to be reviewed by all regulatory authorities.

Have you been scammed by any broker? MyChargeBack might be able to help you! Fill the form below.

More information about 24option

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

190 Responses to “Is 24Option Scam? Broker review”

I lost a house worth of money. DO NOT GO HERE it ruined my life

The worst trading plataform, don’t trust them, they will rip you off.
The worst trading plataform, they just rip me off 300 dollars from my account with the explanation was that the account was inactive for 1 month scammers, they don’t ever let you know that there is a fee for this and before they made close all my operations, because they had to makes changes to the plataform, without any notice. Im going to redraw my money now from this scammers.

Sir, is Premium 24option a scam? Can i still get my money from them?

Hello, I don’t know anything about 24option premium, I’m sorry.

Everywhere page I open that has to do with binaryoption or forex investments all have great customer reviews but when I tried investing with binaryoption, from plus option, to binomo to IQoption, I lost a lot. I still have someone helping me with my trades but I keep losing and now they want me to invest more money. I need to speak with people who have invested and had similar situations. Please reach out to me on my username

Hello, thank you for sharing your story. Trading is really complexive and long term activity. It took some time to find the right strategy, broker and the power to influence own psychology. Be patient. We wish you good luck.

24 option is a scam organised by Israelis, do NOT trade and watch out. you will find more infos on YouTube. Good luck to all of you

HI, so Option 24 is a scam. i invested money about 3 weeks ago, now they say i must pay 10% of the total profit made. they say because the american government and the IRS tax officials have found that a lot of money is made the thought binary trading. am i scammed or what. when i asked why they did not tell me prior they are not giving clear answers. is there a way of getting back the funds i invested??

Mlu did you get any help regarding your account. I also need help.

We are on the same boat. $100 =$1000, did I get No. Now they want withdrawal fees unexplained. That is 24option.

I 100% hate 24Option with all my heart.. They are thieves… Complete liars… Scammers….

Did you get your money back? Being Approached by a guy called Franco Lunga to invest

Got approached by Annika Luan, I haven’t invested anything, am so doubtful more especially being approached on social media . And they say they are using 24 option investment

hello sirs,,do you know Tatiana Konoplina > She said she is an account manager in 24option.please help me,,Ihave jnot invested yet but receiving calls from her and emails too.

The job of the account manager is to help you make your first deposit , if you don’t your account is not completed , they don’t call you to start trading or to take your money. Because when you deposit you get assigned to the Senior Account Manager who will be basically your mentor and tell you everything about trading. After that if you don’t want to trade or you don’t like it , you just withdraw your money and close your account , no questions asked and no fees! I know many people that work there.

HI I’m new to trading, my question is how is it possible to trade with minimum $200 investment under your own account? Normal broker would put you in a pool of shares under their account and managed by them, you have the option to join or not. When you trade using 24option is it your own share as in buying actual lot, or just your small portion under their share?

Dear Mozzax11, with 24Option and any other CFD brokers, it’s only a CFD. You don’t buy the stocks directly through them. However as you can read in the comment section below, it is not recommended to use 24Option!

Mr j.pro i had a friend of mine who meet a woman in facebook in the name of EDNA PEARL he says that within 48hrs we could have our gain profit. My friend immidiately finance because he trust EDNA. After 3 days jhon have his profit , but when he tried to withraw ,the company ask him 770 USD for withdrawal charges. Yes he paid it. But until now he had not withdrawn any money. Very negative. Help him . Im planning to invest or trade. But i have doubt now. Pls help us

Dear Michael, as we tell others – never trust anyone who says they will trade on your behalf. Always manage your own money. I am sad to say it, but I think you got scammed by this EDNA. Do not pay her any more money, she will never send you money back, be carefoul.

24Option

Rating Payout Min Deposit Bonus Regulated
» Visit
Payout: – Min Deposit: £250 Bonus: Regulated:

Yes

24Option are one of the leading online brokers. They boast some of the latest technology on their trading platform and pride themselves on offering an easy to use system. The new bespoke platform is also feature rich and advanced. The firm operates under the company name Rodeler Limited and has headquarters in Cyprus.

The firm are regulated by CySec but have stopped offering binary options. They have added both CFDs and Forex trading to their offering, and also expanded their customer support to include management of large investing portfolios. While they will continue to offer existing client binary trading, their focus is now on CFD and Forex trades. This includes Bitcoin forex pairs.

They aim to offer a user friendly trading service and also give traders the tools they need to make a profit – including some of the highest limits in the industry.

24Option Review – Key Details;

    • Demo Account – Yes
    • Minimum Deposit – £250
    • Minimum trade – From 0.1 lots
    • Signals service – Yes
    • Bonus details – As a CySec regulated broker, 24option no longer offer bonuses or trading benefits.
    • Mobile App – Yes. Android and iOS catered for.

Trading Platform Review

24Option offers a user-friendly platform aimed at quick, easy trading, as well as a mobile trading app. Traders can choose from multiple trade types and assets.

Returns will vary based on the underlying asset performance, but the platform does have low spreads, meaning competitive trading costs. Forex and CFD payouts will depend entirely on the movement of the underlying asset, as with any other broker.

The trading area is clearly laid out. Traders are able to select the underlying asset they want to trade, either directly from the list, or by filtering the display down to the class or category wanted, via a drop down menu.

The trading window is always visible, next to the list, and will update as soon as a different stock or underlying asset is selected. The price graph on the trading window can be enlarged, to allow a more detailed analysis of price action.

Trading History

Below the trading window is the open trades area. From here traders can see all the trades they have open. These are flagged as to whether they are currently in the money or not. The opening price and current price are both displayed, as is the expiry time. Also, the open trades window will display a ‘Close’ value – that is a value that the trader can ‘cash in’ at that moment – either to lock in a profit or reduce a loss. These are only offered at certain times within a trade, but add to a trader’s options and are handily placed.

Trade history is also shown in this area. All completed trades are listed, open and close prices and of course, the net result of the trade. There are also three tabs for traders to keep informed of markets changes. A trading alerts tab, a daily market updates tab and the very useful Economic calendar tab. This provides a great source for finding the key financial statements that will get released to the markets in the near future.

Trader Choice

The platform delivers forex and cfds on commodities, selected stocks and indices.

In addition, the firm now also offer CFD trading and forex trading “per pip”. This allows users to trade in a more traditional way. It also allows users to trade using leverage. This is a big difference if traders are more used to the ‘fixed risk’ of a other investment vehicles.

As part of the forex push, 24option now also provide Bitcoin forex pairs. This allows traders to take a position on cryptocurrency versus USD or GBP for example.

As the CFD offering is relatively new, more markets will be added over the coming month. Spreads are currently around .05% and compare fairly well with more established cfd brokers.

This new types of trade also include the option to set stop loss levels. This is a key part of risk management when using leverage. Traders can also set ‘take profit’ points too.

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Stop loss screen:

Mobile App

24Option provide a slick and easy mobile trading platform, it will work with both android and apple devices. If logged in to the full website, traders can see a demo of the mobile app. Customer can also choose a variety of devices for that demo.

The application has a very simple interface, with each stage of the trading process laid out in a clear simple process. Screens are large and easily useable. This reduces risk of mistakes due to fiddly or hard to find buttons. As well as easy trading, the app can also display the trading history, and open trades. So trade history can be checked wherever a trader may be. It is a slick trading app and is a great addition to the range of features offered by the brand. It has been created with the trader in mind, but has been thoughtfully developed to ensure it offers a full range of functions across multiple devices.

Download the 24option Mobile app here;

Payout

As 24option have now withdrawn binary options, the payouts are not comparable with other binary brokers. CFD and forex payouts will be scalable based on both leverage, and the price movement of the underlying asset.

Traders can manage risk via tools such as stop losses. They can also choose the level of leverage to use, per trade. With CFD and Forex however – losses can exceed initial deposits.

Withdrawal and Deposit Options

24option offer a variety of deposit and withdrawal options.

Withdrawals are normally sent back to the source of the funds. The accounts do require some form of valid ID, and proof of address before making withdrawals. This is to comply with money laundering laws. If funds were deposited via credit card, details for that card will also be required for the withdrawal.

Withdrawal problems and complaints generally revolve around delays in this proof of identity process. So it is worth sorting out prior to asking for a withdrawal. This can avoid problems and ensure quick withdrawal times.

Free Withdrawals

Gold and Platinum account holders can enjoy regular free withdrawals. Standard account holders receive their first withdrawal free. Remaining withdrawals may incur a percentage charge and this figure will depend on the method used – Skrill for example, will incur a 2% charge. Withdrawal requests can be made at any time.

Traders can make a deposit at anytime too. The minimum deposit is £250 (funds can be deposited in USD and EUR too – but once set the currency that an account operates in cannot be changed). 24 Option are keen to stress the security of the deposit process, and do make it as easy as possible to deposit funds. Once the minimum deposit is made, the funds appear straight away so traders are not delayed in taking out options.

24Option recently announced that CFDs (Contracts For Difference) had been added to their platform. The trading area has now been redesigned in-house (rather than the previous TechFinancial platform), and they have improved their platform to now include the option of trading CFDs.

While the initial offering is fairly limited, it is an interesting step from the firm, and is an area of trading which is likely to expand within the binary sector.

The key difference with both the CFD and Forex platforms is that traders can use leverage. Levels up to x200 are available. This is a big change for anyone used to the fixed risk nature of binaries. Traders should understand this difference. The platform also offers stop loss tools – a must have for the added risks with leverage.

24Option Review – Other Features

The firm offers its clients the following features and benefits:

  • Multilingual support – The brand is an international business, offering trading support in a range of different languages including English, Spanish and Italian.
  • 24/5 trading – They offers trading when relevant markets are open
  • Education centre – The website hosts a range of educational resources catering to traders at all levels. These include regular market updates, educational videos, eBooks and a beginners’ trader manual to get you started.
  • Copy trading – Follow the trades made by winning traders
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