24option Bonus Review

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Contents

24option Review

Binary options have become one of the preferred trading directions in the non-banking financial sector. When compared to Forex, they are easier to understand and require no actual purchase. Binary options walk a fine line between gambling and trading. To be able to stand a chance of winning on the market, one needs the full support of the broker. Besides your commitment, your broker can carve the success path for your trading career. 24option is one of the brokers that boosts your trading and gives you the necessary means for fair trading. This 24option review breaks down all the important information about 24option and their service.

  • Managed by experienced professional
  • Webinars, educational resources (for free)
  • Suitable trading platform
  • Efficient and multilingual customer support

Check 24option’s Latest Offer Here!

  • Demo account requires a deposit
  • Fees on withdrawals

Who is 24option?

24option joined the market officially in 2020 as a wing of Rodeler Limited. This broker company was established by a group of experts who dealt with Forex, securities, etc., laying down stable grounds for the broker company. 24option is regulated by the reputable CySEC and the Cyprus Investment Firm (CIF). These are the two powers behind the curtains that make sure that 24option stays loyal to its clients, offers the best service in their power, and stays in line with the law. This gives clients security to join the broker with no hesitation.

Trading Platform

TechFinancials is the running platform of 24option. This platform made quite a name in the binary options market and counts to the most reliable platforms. With a convenient interface, smooth performance, powerful software, and extra features, it is the favorite platform of many. Given that mobile trading is one of the essential parts of the business, 24option offers the 24option TechFinancials mobile apps for download. Use your smartphone device to make some money and download this app for free.

Types of Accounts with 24option

24options offer the “golden middle” with three accounts, besides the Demo account.

  • The standard trading account is for the so- called “middle traders” who have some experience, but are not at pro-level yet,offering all the features necessary for smooth trading.
  • The Gold account offers, in addition, an extra 2% return on every trade which is the reason many decide to register with this account.
  • The Platinum account offers various features and extras including touch options, high-yield boundary, latest market updates, as well as personal educational trainings.

24option take pride in their diversity of assets, with some of the most popular being: BMW stocks, Google stocks, silver, gold, etc. 24options offers also the Close Early option which allows traders to change their minds if they see that they are on a losing path. Simply, they can pull out of a trade before the expiry date and get a portion of their investment back. Expiry dates refer to the different timeframes and limits set on trades. Binary options distinguish between short and long-term expiry dates. Traders can enter trades as short as 30 seconds. Long-term trades refer to daily, weekly, and monthly offers. Even if some brokers offer annual expiry dates, this business rather relies on short-term trades. This broker is also known for a pretty high investment return rate,which can reach as high as 82%.

Deposits and Withdrawals

Besides wire transfer, can may deposit and withdraw via Visa, Master Card, PerfectMoney, Skrill, OKAYPAY, Discover, JCB, etc.

  • No fees are incurred on the first deposit and first withdrawal.
  • Bank transfers require a $30 fee.
  • A minimum of $100 is required to issue a withdrawal request (excluding Skrill, where there is no minimum).
  • The withdrawal usually takes 3-4 days, or up to 7 days if requested via bank transfer.

If you sign up with the Gold account you can withdraw funds free of charge on a monthly basis. This means that you can make a withdrawal request for free. If you should withdraw more than one time within the same month, a fee will be applied. Premium account users are better off regarding withdrawals. Namely, they are able to conveniently withdraw funds anytime without paying any fees or commissions. It is not that uncommon that binary options traders require a fee on withdrawals. In fact, if compared to Forex brokers who seldom charge a withdrawal fee, we could say that it is quite often the case.

24option Bonuses

From time to time there is a sign-up bonus provided as a part of a welcome. The bonus amount depends on the account type you sign up with. The bonus can range from a 30% to a 100% bonus. The minimum deposit with 24option is $250. Other promotions are also part of the 24option package, like holiday bonuses or additional deposit bonuses (only when the market is highly volatile).
In order to withdraw the bonus, traders must trade 30 times the amount of their initial investment.

Open Account with 24option Now!

Customer Support

The 24option customer support is available 24/7 via e-mail, live chat and phone including foreign countries. The multilingual customer support can be reached in 21 languages like French, German, Spanish, Italian, etc. Call the customer support and make your own decision about the staff efficiency with this broker.

24option Review

Introduction

Founded in 2008 the multi-award-winning binary options trading site from 24option is not only intuitive and easy to use but also geared towards both new traders as well as trading professionals. With 24/7 dealing provided on the reputable Tech Financials trading platform they are one of just a handful of highly respected and trusted brokers that put usability and accessibility at the forefront of what they do.

This ease of access and their mobile-friendly platform makes the trading process accessible and straightforward. Operating across a growing list of countries in 22 languages the site lets you choose the language and currency you wish to trade in. Education is a priority with 24option, and their range of educational aides caters for everyone from the first time trader to the experienced and successful.

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With customer support a priority at 24option there are many support options available from picking up the phone to a dedicated customer support advisor to starting an online chat on the move, their dedicated team are on hand to help with any questions or issues.

In this review, you will learn:

    What we think about their company practices The unique benefits and features of 24option Differences between the various accounts

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

You don’t have to choose a plan to get started with 24option. They state on their website that you can open an account and begin trading immediately. If you do want to start a plan, there are five on offer, plus an additional, somewhat discreet 24option demo account available on request. Highlights of these account options are below.

Basic Account

The Basic Account requires an initial deposit of $250, and the minimum trade is $24. Successful trades attract profits of up to 82%, but benefits are limited to the standard 24-hour customer service access and a professional chart.

Silver Account

The minimum amount needed to open a Silver Account is $2,000 although this account commands the same profits as the Basic Account. A Silver Account does, however, unlock a few more of 24option features including access to a personal coach and trading alerts.

Gold Account

The most popular account with traders, a 24option Gold Account sees the profits rise to up to 84% and the addition of more features which include SMS & e-mail alerts. There is also the opportunity to live trade with an expert. An initial deposit amount of $25,000 is required and a minimum trade of $48.

Platinum Account

If you are looking for more benefits and support and a higher profit, a Platinum Account will see a return of up to 86% on a successful trade alongside even more expertise to help you trade successfully. A minimum initial deposit of $50,000 is required, and the minimum trade amount is $120.

Diamond Account

With a minimum trade amount of $480 and the maximum trading return of up to 88%, the Diamond Account is the most rewarding of all plans at 24option. A higher exposure and higher trading limits make this the account to be enjoyed with the more professional traders. They even offer Diamond Account holders FREE Juventus tickets due to their affiliation and sponsorship of the club.

Trade Types And Payouts

With a maximum payout of up to 88% available to those with a Diamond account (82% for the lower end of the account scale) the trade types available are High/Low Options, One-Touch Options and Boundary Options, here are more details:

High/Low Trades

One of the more popular types of binary options High/Low Options are also known as call/put options. All the trader needs to do is call whether that asset price will increase or decrease below the current level in a set amount of time.

One Touch Trades

One-Touch Options are a simple way to trade and don’t take much time or effort. All the trader needs to do with a One Touch option is to choose whether the market will reach a target price within a designated amount of time.

Boundary Trades

Boundary Options involves a simple prediction. The trader needs merely to predict “In” or “Out” which means whether you believe the market price will close within or outside the upper and lower costs by the expiry time.

24option’s mission is to make sure that their traders enjoy their experience.

Bonuses And Promotions

As well as offering periodic bonuses from time to time 24option have both technology bonuses and cash bonuses that are pretty much standard and provided consistently.

Technology Bonus 1. To qualify for an iPad, the account holder must deposit a minimum of $10,000 and reach a minimum trading volume of $50,000. Technology Bonus 2 is a MacBook and with a deposit of $20,000 needed and a min trading volume of $100k.

For those who don’t have that kind of money to trade with there is a $24 bonus for anyone who downloads the 24option mobile app and registers for an account.

Upon registration, cash bonus offers are made on a case by case basis, usually associated with the amount of cash deposited by the trader.

Mobile Trading

Trading is made easy with a 24option mobile optimised website and the mobile app which is available for both IOS (iPhone and iPad) and Android. In this fast-paced technological environment, users need something that is intuitive, simple, quick and easy to use and that allows for instant order execution with real-time data.

While the website offers everything the trader needs to know along with FAQ’s, the mobile app has more limited functionality however customer support is still paramount and user reviews state the app to be an easy to use platform with useful information and great support.

The trading app is available for a range of devices including iPhone, iPod Touch and iPad Air. As well as its ease of use the app is also available in 22 different languages allowing the user to switch to their native tongue. As well as English you can trade in Arabic and even simplified Chinese.

Deposits And Withdrawals

The minimum deposit with a 24option account is $250, and after making the deposit, trading can begin immediately. Deposits can be made via wire transfer although if using this method the minimum deposit amount is $1,000. Other methods accepted include credit and debit cards, Skrill, Mister Cash and many other online payment systems.

Before you can withdraw funds from a 24option account, you must ensure that all documentation and verification is up to date. The verification process requires photo ID such as passport or driver’s license, proof of residence (you must be resident in a country accepted by 24option ) and a verified payment method. To use a credit card, for example, you must send a picture of both sides of the card although you are asked only to display the last four digits. Withdrawals can be made to credit cards, wire transfer or other selected online payment systems.

Once your account is verified the withdrawal process is straight forward and requires the users to fill in the amount to be withdrawn. 24option aim to process all withdrawal requests within three days. There are some light complaints regarding withdrawal problems, but we believe these are mostly down to lack of ID and account verification.

There is a fee for making a withdrawal unless you are a Platinum or Diamond Account holder. The fees range from 2% – 3.5% depending on the method or a fixed fee of $30 for a wire transfer. Banks may make additional charges.

Special Features

As 24option values every trader and wants them to enjoy the success, they offer a FREE demo account giving entry-level traders the chance to familiarise themselves with the platform, experience a real experience and teaches them the necessary skills to continue.

Educating their traders is also crucial to 24option which is why you will find webinars for all traders regardless of experience and knowledge. Just visit their website and watch a basic, intermediate or advanced webinar. Other webinars are available, with dates published on their calendar.

Customer Support

Customer support is easily accessible, and in the first instant you can complete and submit a simple form with your questions, comments or concerns. Support is also available by e-mail, telephone or by starting a live chat with a customer service specialist on the site whether on a desktop or mobile device. Support contact is available 24 hours a day, seven days a week from many countries across the world and as usual, in multiple languages.

Here are the contact details for 24option:

Conclusion

Let’s finish up our 24option review here. 24option’s mission is to make sure that those traders that use their site enjoy the experience, experience success and stay! To achieve this, they provide plenty of education and support to all of their traders regardless of experience. They seem to value their traders and demonstrate this through their various educational tools and information. From our investigative research and test, we found no reason to believe they are a scam operation.

As an exceptionally well trusted and secure platform to trade on 24option is a popular choice with many traders from beginners to professional Diamond traders. They’re easy to use platform, mobile trading options and customer support make them an ideal choice for traders and makes them a serious contender in the binary options trading market.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is 24option legit, will they scam me?

24option has one of the most reputable names in the business and are a trustworthy and reliable broker. We carry out individual checks to ensure that we are happy.

Do they have a decent mobile or tablet app?

Technologically they have a good platform which ranges from the desktop website to their responsive mobile site. 24option also have an app and actively encourage traders to download the app by offering a $24 bonus.

What bonus do they offer new traders?

24option provides a welcome bonus of 100%. For a trader that reaches $10,000 in deposits and $50,000 in trades there is the reward of an iPad, if they double this, they will be rewarded with a Mac Book.

Can I start trading on a free demo account?

Like many of the top brokers, 24option offer a demo account to encourage their traders to get used to the platform. Just deposit your $250 deposit, then request a free demo account.

What’s the minimum deposit and trade amount?

The minimum deposit for a 24option account is $250 unless you are depositing funds via wire transfer, then the minimum deposit required is $1,000. Their minimum trade is $24.

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

24Option

24option is the most widely known broker on the market and they offer a helpful demo account to try out their trading platform with no risk involved. Their minimum deposit requirement is higher than some other brokers, but if you’re serious about trading that shouldn’t pose a problem. 24option has been servicing traders for many years now and has a solid track record to prove they are not a scam. They do not currently accept clients from the USA.

24Option is owned by Rodeler Ltd, that is based in Limassol Cyprus. Authorized by the Cyprus Security Exchange Commission (CYSEC) with the license number 207/13.

During 2020 24Option amended their offering. They no longer offer binary options, and concentrate solely on Forex and CFD trading.

24option have moved away from platform provider TechFinancials, and developed a new bespoke platform. The new offering also saw a move into Forex and CFD trading, with the firm also offering forex pairs that include Bitcoin. Recent growth in cryptocurrency trading led the firm to add Bitcoin pairs as soon as they could.

Trading Platform

The 24Option trading platform is fairly unique, even within the fairly generic world of binary, forex and cfd trading. The look and feel of the platform has been designed in keeping with the brand, so the usual red and green trading buttons have been replaced.

This bespoke style does not impact the usability of the platform however. The type of trade is available on the top left menu – choose from:

The relevant assets are then shown beneath. Selection any of them will update the relevant payout information, and the price chart on the right. The trading area is well laid out, so although a lot of data is available at once, it is still clear and easy to use.

Open trades, and a history of closed trades are available under the trading area, where performance is constantly updated.

Signals

The trading platform also gives users access to the 24Option signal service. The trader sentiment bar is also used to aid trader decisions. The demo video at the bottom of this review illustrates how to get the most out of these. As ever, signal services should be treated with a certain level of caution, particularly where supplied by the broker. But they can be an additional tool for confirming, or stepping back from, particular trades.

The 24Option signals are referred to as ‘Trading Alerts’, and are found alongside the ‘open trades’ and ‘Trade History’ tabs.

Payouts

With more than a hundred different types of underlying assets on offer, traders at 24Option will certainly be spoilt for choice. They can choose for 43 different types of stocks, 11 commodity related options, 30 currency pairs and 19 types of market indices.

With Forex and CFD trades the payout will depend on the price movement of the underlying asset. Traders can utilise leverage to manage their risk and payouts. While trading on margin can increase profits, it can equally accelerate losses, so should be used with caution.

Regulation

In addition to being regulated and licensed by CYSEC, 24Option is also registered with several other European regulatory agencies such as the Autorité des Marchés Financiers (AMF) in France, BaFin in Germany, CONSOB in Italy and the Financial Conduct Authority (FCA) of UK.

The key benefit of dealing with a regulated broker is the fact that you always have someone to turn to for dispute resolution in the event there is a dispute between you and the broker. Another factor that should weigh heavily on a trader’s mind when selecting their broker is the ability to claim compensation should their broker turn insolvent. With 24Option, traders need not be concerned as they are a member of the Investment Compensation Fund scheme. The fund entitled traders to claim up to a maximum of 20,000 euros.

Mobile App

The 24Option app is a smart and easy to use mobile trading platform, available for android, iOS or Windows, the app is free.

The app has a clear, simple interface, and the trading process is intuitive. Screens and buttons are large making them easy to use without risk of mistakes because of small or hard to find buttons. As well as simple trading, the app will also display open and closed trades, and update them in real time. The trading app is a great addition to the range of features delivered by 24Option. Each version has been written to exploit the full range of functions across multiple devices, so android, windows and iPhone users all get a tailored experience.

Withdrawal

24Option withdrawals will be paid back to the source of the deposit. So payments can only be returned via the same method as a deposit was made. This a common situation, and is actually a safeguard to protect traders from fraud.

For the same reasons, the firm do require proof of address and some form of valid ID, before making withdrawals. This is to comply with money laundering laws. Where a deposit is made via credit card, details for that card will also be required for any withdrawal made later.

Withdrawal Complaints

Withdrawal complaints or problems often stem from delays in this proof of identity procedure. It is therefore worth sending all these details early – before a withdrawal request is made. This reduce the chances of problems, minimise complaints and ensure quicker withdrawal payments.

Account Types

24Options offer a range of account types. Entry to these accounts will depend on the size of the initial deposit. The larger the first deposit, the higher level of account type a trader will join. However, traders can always start with a smaller deposit – and then make a larger deposit at a later date in order to increase their account type.

Gold and Platinum account holders can enjoy regular free withdrawals, regular 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.

New accounts will also get to choose between forex and cfd accounts. Bitcoin is tradeable via the forex pairs.

Is 24option a Scam?

As a regulated broker, 24Option are not a scam. They provide the service they say they will, and client funds are held separately to company funds. Regulators are taking a keener interest in binary options of late and 24Option have supported this. The trading platform is reliable, and withdrawals paid as requested.

Complaints

One complaint levelled at 24option has been the practice of “upselling”. This is where an account manager working for the broker will contact clients and offer to trade on their behalf. This generally leads to the trader over-trading, and in some cases trading beyond their means.

Where possible, traders should not let anyone else trade on their behalf, and in response to the complaints generated, the binary industry has begun to end the bonuses paid to account managers that behave in this way. It remains to be seen if this ends the practise, and traders need to be aware of the risk. If called by an account manager offering advice, we would suggest a polite “No thanks”.

Bonus

24Option offer a fairly unique bonus offer, by moving away from the traditional deposit match bonuses. They offer a range of ‘Premium Prizes’ – these are normally ‘tech’ offerings, such as an iPad or MacBook.

As with any reputable broker, 24Option will allow traders to opt out of any bonus incentive.

24Option Demo

Below is demo video from 24option, which details how to make a trade via a tutorial – from selecting the asset and trade type, to analysing the charts and judging trader sentiment, this 24Option demo video is fully comprehensive, including where to find the signal service (‘Trading Alerts’);

Review Conclusion

From the fact that 24Option is licensed and regulated by CYSEC, we can deduce that they are a legitimate operation. The warm and friendly service provided by them certainly makes a refreshing change from the cold and impersonal service which other brokers are accustomed to providing.

For those who are interested in opening a live trading account at 24Option, their minimum deposit requirement is $250. As for their minimum trade size, you can trade from $24 per trade. While the services offered by this broker are very good, it is their regular trading competition that sets them apart. Some offer tens of thousands of dollars in prizes to the winners of their competitions. There are also innovative bonuses offered, and the demo account allows traders to get used to the platform before stepping into the markets for real.

Pros
• Bitcoin Forex trading
• Extensive list of underlying assets for trading
• Professional Customer Support
• Robust and Advanced Trading Platform
• Support Multiple Languages
• Wide Range of Benefits and Incentives
• Now offer CFDs in addition to binary options

Cons
• Need to deposit $250 first before access to the demo account is granted

24Option Review Ratings

Customer Service Rating – 10
• 24/7 Support
• Phone Support For 21 Countries
• Trading platform translated into 18 languages

Asset Choice Rating – 10
• 43 Stocks
• 30 Currency Pairs
• 11 Commodities
• 19 Indices

Deposit Method Rating – 9
• Credit Cards
• Wire Transfer
• Web Wallets

Minimum Deposit Rating – 7
• $250

Minimum Trade Rating – 8
• $24

Trading Features Rating – 8
• Standard High/Low Binary Options
• One Touch Binary Options
• Short Term Binary Options
• Boundary Options

Payout% Rating – 8
• Up to 89%
• 15% Rebates

Bonus Offers Ratings – 9
• Up to 100% matching bonus on initial deposit.

Site Intangibles Rating – 9
• Regulated by CYSEC
• Demo account
• Asset Filter Provided
• Real Time Price Feed from Morningstar price quotes
• Demo videos, tutorial and ebook provided
• Regular Trading Competitions With Attractive Prizes

24option Broker Review

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�� Headquarters: Cyprus
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�� Trading Platform(s): Tech Financials
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�� Minimum Deposit: 250
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Visit 24option
Risk Warning: Your capital may be at risk

Our Review of 24option

An in depth 24option review

24option is an increasingly popular trading site, particularly for those interested in binary options trading. This 24option review analyses whether this broker is an advisable one to use.

Account Types and Opening

Opening an account with 24option is quick and simple, and there are various account types to choose from here, namely Basic, Silver, Gold, Platinum and Diamond. A Diamond account offers the most benefits, such as the highest maximum payout (88%) and perks such as a personal coach, the benefit of the latest research and trading alerts (to name but a few). By way of comparison, the cheapest account, the Basic account, has more restrictions: the maximum payout is 82%, for example, and there is no access to a personal coach. There is also a specialised Islamic trading account service. Once you sign up, it usually takes 24 hours or less for your account to be approved.

Promotions, Sign Up and Deposit Bonuses

24options is a site that offers a generous sign up bonus: this bonus is up to 100% of your first deposit.

Commissions and Fees

Fees will depend on the withdrawal method that you use. If you use a wire transfer then there will be a flat fee of $30. Other methods (such as Skrill or a debit card) will acquire a fee of between 2% and 3.5%. There are various ‘commission plans’ for use with this site, depending on the type of account that you have opened.

Trading Platform Review & Mobile Apps

The 24option trading platform has a classic, minimal look to it with few attention grabbing (or, some might say, distracting) graphics or images. The mobile app is quick and simple to use.

Deposits & Withdrawal Methods and Ease

Deposits and withdrawals can be performed in various ways, including by card and wire transfer and by online payment accounts such as Skrill. One thing that it is important to note, however, is that there is a minimum withdrawal amount with this site: you need to withdraw a minimum of $100 (or its equivalent in the currency that you are using) in order to make any withdrawal at all.

Regulators & Safety: Are they a reliable, legitimate broker or a scam?

As a Binary Options Affiliate, 24option is a relatively reliable broker and it is legitimate rather than a scam.

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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.

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