24Option Review

Overview

Last 24Option review update: 21st July 2017 24Option Overview Cyprus based 24option was founded in 2010 and this company is currently considered to be one of the most highly regulated… more

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Broker Details

Broker	24Option
Website URL	www.24option.com
Founded	2010
Headquarters	Cyprus ( EU )
Support Number	+441619600211
Support Types	Email , Live Chat , Phone
Languages	English , German , Spanish , French , Italian , Danish , Swedish , Japanese , Arabic , Russian
Trading Platform	TechFinancials
Minimum 1st Deposit	$250
Minimum Account Size	$250
Minimum Trade Amount	$24
Payout	Up to 88%
Free Demo Account	Open Demo
Regulated
Regulation	Authorized & Regulated by CySEC ( Cyprus, EU ) License Nr. 207/13
Account Types	Basic , Silver , Gold , Platinum , Diamond
Deposit Methods	Credit Cards , Skrill , Wire Transfer , Neosurf , CashU , Qiwi , Astropay , Neteller , Paysafe , Moneta
Type of Investments	currencies, stocks, indices, commodities
Option Types	High Low , 60 Seconds , Boundari , Touch
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score	4.0

Pros

World's Top Binary Options Broker
EU Regulated
Up to 88% Payout
Excellent Customer Support
Free Withdrawals
Free Demo Account
Personal coach

Cons

They don't accept traders from USA , Australia and British Columbia / Ontario ( Canada )

Full Review

Last 24Option review update: 21st July 2017

WARNING! Binary Options not available

Binary options product is not longer available on 24option platform for new clients.

Check our list of regulated brokers.

24Option Overview

Cyprus based 24option was founded in 2010 and this company is currently considered to be one of the most highly regulated binary options brokers in the Eurozone economic area.

24option was founded with the vision of offering a very easy to use binary options trading platform that will enable traders to focus on making profits in a way that minimizes the underlying technical and administrative aspects of trading in an international market like the global currency market.

24option is a highly regulated broker. They are primarily regulated by the CySEC (License No. 207/13). But, they also comply with a number of regulatory authorities from around the world, including the Financial Conduct Authority (FCA) in the UK, Comision Nacional Del Mercado de Valores in Spain, Comision Nacional Del Mercado de Valores in Italy, Securities Market Agency (ATVP) in Slovenia, Federal Financial Supervisory Authority (BAFIN) in Germany, and Banque De France (BDF) in France.

Trading Platform

24option’s trading platform was developed to offer binary options trader an easy to use trading interface that offers the most advanced technical function in the industry.

Unlike many primitive binary options brokers, 24option actually show traders if the trade is currently “in the money” or “out of the money.” This function allows traders to keep track of their open positions and help manage their risks and exposure to the account in real time.

Currently, 24option offers a range of assets in binary options trading, such as indices, currencies (Forex), stocks and commodities. They also added a lot of great educational content on the platform so that users do not have to open additional browser windows or waste time looking elsewhere to find the content they are looking for.

24option has also made extensive investments in developing a state of the art mobile trading platform that is available for free download to registered users in both Apple Store and Google Play.

Assets Offered by 24option for Trading

24options offer a wide range of Forex pairs for trading, including, EUR/USD, GBP/USD, EUR/JPY, GBP/JPY, USD/JPY, USD/CAD, USD/CHF, EUR/GBP, AUD/USD, AUD/NZD, NZD/USD, AUD/CHF, AUD/CAD, AUD/JPY, EUR/AUD, CAD/JPY, CHF/JPY, GBP/CAD, GBP/AUD, NZD/JPY, EUR/CHF/ CAD/CHF, EUR/CAD, GBP/CHF, NZD/CHF, USD/ZAR, EUR/TRY, USD/TRY, USD/NOK, EUR/NOK, USD/SEK, USD/MXN, and USD/RUB.

In fact, 24option is one of the few brokers who offer some of the most exotic currency pairs as assets for binary options trading, such as USD/RUB.

In addition, 24option also offers commodity options assets like Oil, Gold, Silver, Gold/EUR, Gold/JPY, Platinum, Copper, Coffee, Corn, and Sugar on their platform.

Besides, currencies and commodities, binary options traders can also enjoy trading stocks (equities) like Sony, ANZ, BP, Royal Dutch, Tesco, and even Indian companies like Tata Motors Ltd! They also cover indices and popular stock index, such as Dow Jones 30 Future, S&P 500 Future, FTSE 100 Future, and Bombay 30, etc.

Types of Accounts

24option’s short term High/Low options range from 2 to 5 minutes and their classic High/Low options are designed for a bit longer term traders. Currently, 24option’s platform offers four different types of options to trade 1) High/Low, One Touch, Boundary, and Short Term options.

24option currently only offers different types of binary options real account and traders can use the same platform to trade all the different types of assets and associated options available in their platform.

The types of accounts offered by 24option include Basic, Silver, Gold, Platinum, and Diamond. The difference between these types of account are mainly a number of features offered by the broker and payout ratio, which ranges from 82% in the Basic account to 88% in the Diamond account.

Minimum Deposit Requirements / Promotions

24option makes it really easy to start trading binary options as they require only a $250 minimum deposit, and $24 minimum trade to open an account with them.

Payout

24option offers different fixed payout ratios for its five types of accounts that ranges from 82% to 88% payout for profitable trades.

However, the payout ratio for different timeframes also varies greatly, where the longer time frames tend to offer gradually less payout compared to short term ones.

Deposit and Withdrawal Methods

24option offers several funding and withdrawal option for binary options traders, including major credit cards (Visa, MasterCard, Discover), Wire Transfer.

24option also supports deposit and withdrawal via a handful of online payment processors like Skrill, Neteller, Qiwi, AstroPay, Sofort, and WebMoney.

During funding and withdrawals, 24option imposes certain terms for different types of account holders. For example, for Platinum and Diamond account holders all withdrawals are free. But, Gold account holders can make only one withdrawal for free every month, where Silver and Basic account holders can make one withdrawal for free, but have to pay a withdrawal charge.

24option charges 3.5% fee for withdrawing via credit cards, Skrill and Neteller, and has a $30 wire transfer fee for Basic and Silver account holders.

Customer support

Customer support is something 24option takes very seriously and they consider helping traders a part of their overall value proposition.

During our research, we asked the customer service representative over live chat a list of questions for almost 30 minutes and received prompt answer to all of our concerns.

Besides live chat, traders can also reach customer support via email at [email protected] and call them at their Cyprus office during office hours.

24option also have offices throughout Europe and Asia and lists phone numbers for all their offices, including the UK, China, India, and Malaysia on their website’s contact page.

24option’s headquarter is located at 39 Kolonakiou Street, Ayios Athanasios, Limassol- 4103, Cyprus.

24option review: Summary

24option happens to be one of the highly regulated binary options brokers and they follow strict guidelines from major European financial regulatory authorities. Also, client funds are held in a segregated account to protect against risks.

24option understands that binary options trading is becoming popular in emerging markets and they have opened several offices in some of their key geographic markets to help traders find answers to their questions in their native language.

However, 24option’s main market is in Europe and they have volunteered to meet some of the strictest regulations in over 10 European countries in order to expand their business in the continent.

If you are looking to trade binary options with a popular broker with a great reputation who also offers a great trading platform in a highly regulated environment, then 24option could be the company that you have been searching for.

24option.com: Customer Reviews

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About
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James Martin

I'm based in London ( England, UK )
I've been a professional trader for over 5 years.
Currently I work as forex analyst for different investment companies.