24Option is one of the most well respected trading brokerages in Europe and was founded in 2009 by a company known as Rodeler Ltd. The brokerage is based out of Cyprus with their headquarters located at 39 Kolonakiou Street, Ayios Athanasios, Limassol, Cyprus. Since the broker is based in Cyprus, they fall under the regulation of the Cyprus Securities Exchange Commission (CySEC), with license number 207/13. As well, the brokerage is also regulated by the International Financial Services Commission of Belize for their services outside of the European economic area.
That being said, 24Option is an international trading brokerage and offers their services in English, Spanish, Russian, and Tadawul. 24Option’s brokerage services are marketed towards both beginner and advanced traders as their interface and platform are highly advanced yet simple and easy to use. They have been featured in numerous publications and won various awards over the years, crowning 24Option as “the worlds most awarded trading platform”.
24Option features a wide variety of tradeable assets for their clients spread out across numerous markets. The brokerage primarily deals with the trading of Forex and CFDs and has a total of 131 underlying assets. Among these tradeable assets are 61 stocks, 34 currency pairs, 11 commodities, and 25 indices.
As for CFD trading, traders have access to 132 stocks, 42 currency pairs, 13 commodities, 18 indices, and 5 of the most popular cryptocurrencies. This is a huge variety of assets to choose from and there is something for nearly every kind of trader.
24Options Trading Conditions
24Option offers their clients favorable trading conditions and various options to choose from. For instance, average payouts can reach as high as 89% and their special high yield options can reach 400% or more. 24Option’s binary option trading can be done with the following methods; High/Low, One-Touch, Boundary, and Turbo trading.
As for the brokerages spreads and leverage available for forex and CFD trading, they are also quite enticing. Bitcoin trading on CFD’s can achieve leverage of up to 5:1 and the spread for all cryptocurrencies is a floating spread. For stocks, the available leverage ranges from 1:10 to 1:13 for commodities and indices. For forex trading, leverage can be as high as 1:50 for regular traders and if the conditions are right, some traders can achieve leverage as high as 1:100. The spreads on forex range from asset to asset and can be either variable or fixed.
24Option Account Types
24Option really tries to accommodate every type of trader and their needs. One of the ways they do this is through offering four different account types that come with slightly different features and perks. See them overviewed below.
- Platform Introduction
- Dedicatedaccount manager
- Webinars & seminars
- Financial market introduction
- Demo account 100K
- Daily market brief
- Everything from the Basic Account +
- Risk management explanation
- Sentimental, fundamental, technical analysis one on one tutorial
- Short, medium, long term explanation of common trading strategies
- No maintenance fees
- Max lot
- Everything from the Silver Account +
- One on one MT4 course
- Trading central
- Free withdrawals
- Everything from the Gold Account +
- Favorable spreads
24Option Commissions & Fees
24Option charges their clients various fees for different things. Of course, fees are incurred through spreads and commissions, but there are other fees as well. For instance, traders with a basic account must pay a €10 fee per month. Another fee which applies to all accounts is the account inactivity fee which kicks in after two months of inactivity. This fee can raise up to an outrageous €200 per month if the account is inactive for many months. Withdrawal fees can range from 0.9% to 3.5% depending on the method. Also, a €50 fee will be charged if you withdraw your funds after making only one trade. So, in addition to the commissions and spreads traders incur, there are many additional fees that can be imposed on traders if they are not careful.
24Option Platform and Tools
24Option offers two different trading platforms for their traders to choose from; the Tech Financials platform and the popular MetaTrader 4 (MT4) platform. Both platforms are very well developed and feature all sorts of advanced trading tools and features. The Tech Financials platform is web-based and accessible directly from the 24Option website. This platform is very user friendly, but a little less advanced than the MT4 trading platform. However, both platforms feature a number of technical indicators and various charting tools and features.
Is 24Option Mobile Friendly?
Yes, 24Option is mobile friendly. Both the Tech Financials and MT4 trading platforms have downloadable applications available on the Apple App Store and the Google Play Store. As well, the website is fully compatible with mobile devices.
24Option likes to keep things interesting for their clients and therefore offers various promotions to entice traders to keep trading. Traders can participate in various competitions where they can win cash prizes and other things like tickets for Arsenal or Juventus football matches through company sponsorships. Other promotions and bonuses include gifts such as laptops, TVs, and other electronics. These bonuses are rewarded for certain amounts of trading volume and or deposit bonuses. The parameters change from time to time but are always explained on their website.
24Option Deposits & Withdrawals
24Option has a minimum deposit of $250 to open an account and this amount is common in the online trading industry. As for withdrawals, the minimum withdrawal is only $10 and there is no maximum for how much you can withdrawal. Deposits and withdrawals can be done via the following methods:
- Credit Cards: Visa, Mastercard, Dinners Club, JCB, Carte Bleue, Dankort, CartaSi, Laser, Discover
- Electronic Payment: Liberty Reserve, MoneyBookers, MoneyGram
- Wire Transfers
24Option Customer Support
24option has excellent multilingual customer service that’s available 24/7 via email, live chat, and telephone. The customer service representatives are quick to respond and answer in a friendly and professional manner. Compared with many other online trading brokerages, 24Option goes above and beyond with the support they provide.
24Option Research and Education
24Option has an extensive education and research centre where traders can find all sorts of useful and helpful information. Traders have access to webinars, eBooks, daily market reports, trading strategies and more. 24Option goes above and beyond to provide their clients with valuable educational material that will help them become better traders.
24Option Noteworthy Points
The most noteworthy point worth mentioning about 24Option is their great reputation in the online trading industry. As well, the broker features a wide variety of tradeable assets spread across numerous markets. 24Option strives to serve every kind of trader and is succeeding at doing so.
Conclusion for 24Option
24Option is an online trading brokerage who cares about their customers and strives to provide them with the most trading options, best resources, and amazing customer support. They have received numerous awards for their excellent services and attract more and more traders all the time. As well, 24option offers competitive fees for the services they provide, and two outstanding trading platforms. All in all, we believe 24Option is a trusted and competent online trading broker.
Specification: 24 Options