24Option is a well-known international trading platform as well as one of the best binary options brokers in the world. They have a large database of registered clients. Many others are interested in using their services. This is why we offer a complete review of the company. Below, you will find many useful details about the way this broker performs on the trading market.
What Is 24option?
This trading platform was founded in 2010, in Cyprus. It has a global activity. However, it isn’t available for American and Australian traders. The minimum required deposit is 250 dollars, and the maximum level of return on investment can reach up to 89 percent. However, the payouts start at 70 percent.
24Option offers bonuses to its customers. However, the level of the bonus may vary depending on the amount contained in your deposit. The maximum bonus can be up to 100 percent. The platform offers transaction opportunities in four different currencies: American dollars, euros, yens, and English pounds.
This popular trading platform gives you the possibility to trade different assets such as stocks, gold and silver, commodities, and more.
24Option Account Types
The wide range of account types is another appealing trait of the 24Option trading portal. Furthermore, the company also offers a demo account option. This comes in handy, especially when you are an inexperienced trader. The 24Option account types are the following:
- Standard account. This is the entry level package. However, it offers access to all their assets as well as binary options. You will be able to combine different binary trading methods such as on touch, high/low, and more. Customers that choose this account will have up to 82 percent payout.
- Silver account. The payout level is the same as in the standard account’s case. However, activating this package will give you the opportunity to benefit from a personal coach’s assistance. You will also receive regular trading notifications to keep you updated.
- Gold account. With this account, you will keep all the benefits from the silver package, and you will receive something extra. At this level, the payouts can reach up to 84 percent. Moreover, you will participate in live trading sessions with the market’s experts and professionals.
- Platinum account. Activating this account, all customers will have the right to free withdrawals. The payout level reaches 86 percent, and every client will benefit from a free session with a financial expert. Furthermore, there are higher trading limits when it comes to the platinum account.
- Diamond account. Those to subscribe to this type of account will be provided with a customized trading platform, and will benefit from a payout level of 88 percent.
24Option Demo Account
The 24Option demo account is part of the necessary learning process of all new traders. The minimum deposit for this account type is 250 dollars. However, the demo version is time-limited, and you will only trade virtual money instead of real ones.
Furthermore, the demo account will help you to understand better the way the trading platform works as well as improving your skills and abilities when it comes to the trading market strategies. There are a few simple steps to activate your demo account:
- First, you need to sign up by providing a few personal details.
- Then, you will be required to set a small deposit of 250 dollars.
- Last, but not least, select the practice account type and start learning how to trade.
It is not necessary to spend the money you have put in the deposit. If you don’t feel comfortable using the platform anymore, you just have to pull out the money from the account and close the demo version. There are many benefits from using a demo account before actually going on the trading market. One of these advantages is the fact that is completely free of charge.
Usually, the company offers up to 100 percent bonuses. Nevertheless, they also have limited period with special promotions, from time to time.
The most common type of bonus is the deposit one. Depending on the amount you place in your account, the bonus level can be between 30 and 100 percent. Therefore, the bigger your deposit is, the larger your bonus will be.
Depending on the market’s characteristics, the company may also offer secondary bonuses for additional deposits. Moreover, they also have the habit of surprising their registered clients with an occasional holiday or other special bonuses.
24Option Minimum Deposit and Minimum Trade
The company offers the clients a very intuitive deposit interface. Furthermore, the entire software is working fast and in a safe way. Deposits can be made in more than one currency. You can place funds in US dollars, English pounds, or Japanese yens.
All the new customers will be required to place at least 250 units in their new-opened deposits. The amount is available for almost all the currencies, excepting the yens. If this is the case, you will have to deposit 25,000 JPY. Payments can be made through several options: credit or debit card, digital payment, or wire transfer.
24Option offers a pretty fast withdrawal procedure. You can get your money out of your account in only 1-3 working days. However, the company specialists recommend their clients to pay attention to every withdrawal they make. Furthermore, they should leave some money in the account, to be covered in the eventuality of an important market change.
The platform’s withdrawals procedure is straightforward. Even though some trading companies impose a maximum withdrawal limit, 24Option doesn’t apply this rule. Those clients who own a VIP account don’t have to pay any additional fees to make a withdraw. However, all customers must send the requested documents before accessing any of their profits.
24Option Binary Options Types
A binary option is a financial concept that refers to the Forex trading market. The company offers four main trading methods:
- One Touch Binary There are two options in this method: touch and no touch. This offers the trader the possibility of payout in the very moment in which the asset’s price goes higher than the initial trading barrier.
- Classic method. This can refer to above or below, and high or low options. You just have to select your desired assets and try to foresee whether their prices will rise or decrease.
- Boundary binaries. This is a more innovative method. In this option, the brokers define two price levels, the lowest and the highest ones. The customer will, then, have to foresee whether the price will remain between those two limits or it will go beyond them.
- Short term method. If you choose to use this binary option, you will have the chance to make profits when the assets’ prices decrease below the current level.
24Option Mobile App
24Option is supportive of those traders who would rather use their mobile phones to supervise their trading operations. The company has created a free mobile app that can be downloaded by its customers. Furthermore, the platform has a secondary website specially created and designed for mobile devices.
Therefore, those traders who are always moving can make operations on the road without the need to remain connected in front of a desktop. You will be able to trade assets instantly, no matter the place in which you are. The mobile app is not only free but also secure and user-friendly.
All clients can make any complaint by contacting the company’s help desk. 24Option has a multilingual customer care service and, so far, they proved to have a fast response rate.
There are multiple ways in which an unsatisfied customer can reach to the company’s representatives. You can use the free phone number, complete the online form available on their website, send an e-mail, or even discuss with a specialist via live chat.
Is 24Option Legit or Scam?
Researching and verifying all the details and procedures, we can confidently state that 24Option is not a scam. In 2013, the portal was regulated by CYSEC. Therefore, all your deposited money is safe. All the firm’s traits transformed it into one of the best trading brokers in the world.
The website uses a great easy-to-use interface, which makes both navigation and trading procedures a lot simpler and more efficient. Moreover, you will have total transparency on all your trading operations and procedures. 24Option provides you with daily market analysis and live charts.
24Option Pros and Cons
Like any other trading platform, 24Option has both advantages and disadvantages. We have gathered the most common and important ones, below.
- Great reputation. 24Option is an experienced trading company that had succeeded in keeping its customers satisfied, over the years.
- Licensed broker. The company is regulated as well as licensed by CYSEC.
- Well-organized help desk. It offers a multilingual and responsive customer support.
- Many incentives. Clients benefit from a wide range of perks and benefits.
- Safe platform. 24Option is a secured trading portal. Therefore, you don’t have to worry about the discretion and the safeness of your operations.
- Wide coverage. The company acts globally and has registered customers from all over the world.
- There aren’t that many cons when it comes to this specific broker. However, some of the clients might consider the demo account request to deposit to be an issue. All new traders who want a demo version have to place a 250 dollars in their deposit.
- Another small disadvantage might be the fact that the portal is not available for the US and Australian traders.
Successfully Trading with 24Option
24Option is a reliable broker which offers good-quality services. Furthermore, it provides a wide range of incentives and perks that differentiate it from many of its other competitors. This is one of the reasons why clients find this trading platform highly attractive.
Moreover, the portal is very intuitive as well as versatile, so that every customer can customize its trading experience. 24Option is following the technology trends by developing a mobile app and constantly updating its software.