A Cyprus-based binary options broker, 24option is one of the preferred platforms among binary traders, and regularly enjoys good ratings in binary options broker reviews. It is known for being among the more proactive brokers around. The generous incentives regularly extended to traders is also something that makes this broker a hit among traders. 24option was previously owned and operated by CBAY Financials before it was sold last year. At the time this 24option review was created, it is under the ownership and management of Rodeler Ltd.
24option aims to make binary option trading less complicated and more profitable. Whether you are a newbie or an experienced options trader, you should be able to make good use of the site. It provides everything you need to know about binary options trading. It features a “Guide” section from which you can learn about the trading of binary options step by step. From the regulation requirements to the steps in funding an account, using the trading platform, and proceeding with the actual trading, nearly everything there is to know is presented on the site. 24option provides access to an expansive information and even has a Video Trading Academy, a collection of videos and webinars that are useful not only to newbies but also to intermediate and professional traders.
There are four primary types of trading contracts provided on 24option. These are classic binaries, boundary binaries, one touch binaries, and short-term binaries. In classic binaries, the options would either be above/below or high/low. For one touch binaries, the options will either reach (or surpass) or not reach a certain level after a specific period of time. It comprises of touch/no touch and high yield touch outcomes. Boundary binaries, on the other hand, are based on whether or not the price of the underlying asset stays within a certain range. Lastly, short-term binaries are basically the classic binaries but with short time frames. These time frames could be as low as 30 seconds or five minutes.
If you are interested in exploring binary options trading, consider giving it a try with 24options. It offers powerful tools and loads of real-time data. Don’t be intimidated if you know little about binary options or if you are a complete newbie. 24options is designed to make it easy to understand and get the hang of option trading. The site comes with a user interface designed to be highly intuitive. It is also backed by the latest technologies to ensure security, reliability, and responsiveness.
As an entity regulated by CySEC (Cyprus Securities and Exchange), 24option offers the guarantee that the transactions undertaken are legitimate. It is legally authorized to provide the services it offers under license # 207/13. It is also affiliated with the Investment Compensation Fund, which provides €20,000 in protection. 24option’s business address is 39 Kolonakiou Street, Ayios Athanasios, Limassol CY-4103. If you need to contact the company by phone, dial +44 203 693 8656.
24option offers a free trading account. You can quickly sign up for one through this link, or the “Getting Started” page. You will then be asked for your deposit (to be discussed in detail later on), which will be funded by your credit card or other online payment methods such as Neteller.
There are five types of accounts available namely, Standard, Silver, Gold, Platinum, and Diamond.
The Standard or Basic account offers up to 82% payout and does not impose restrictions on the type of assets traded. It also comes with 24-hour customer support and a dynamic professional chart useful in implementing strategies like Fibonacci to assess and predict the movement of the markets. The first monthly withdrawal for this account type is free.
Silver accounts also offer up to 82% payout. It comes with all the features of the standard account with the addition of real-time trading alerts supplied by Trading Central. This account also provides access to a personal options trading coach.
Gold accounts come with the benefits of a Silver account with the addition of SMS and email alerts and the opportunity to do live trading with experts. Additionally, payouts for Gold accounts increase to 84% and there is one free withdrawal per month.
If you go for a Platinum account, the payout increases to 86%. It comes with all of the features of the Gold account except for the once-a-month free withdrawal fee (because all withdrawals are already free). This account provides the opportunity to engage in a financial expert session, unlimited access to premier trading research resources on Trading Central, and the ability to trade ForEx. Platinum accounts also offer higher trading limits and exposure.
Lastly, the Diamond account provides all of the features of the Platinum account plus a 4% increase in the payout, tickets from Juventus, and the ability to customize the dashboard or platform. You will not be doing the customization yourself. Instead, you will have to tell 24option’s in-house team the features or elements that you want changed or improved.
Most 24option reviews and users agree that the 24option dashboard is intuitive and highly responsive. Pages load fast and the available tools are robust and well laid out.
24option offers a 100% welcome bonus. The site does not make use of bonus codes. To get the bonus, you need to click on the bonus buttons within your account.
Payment & currencies
At the time this 24option review was written, 24option accepts three currencies: US dollar $, British pound £, and euro €.
Credit or debit cards are required for making deposits and withdrawals. The list of accepted cards include JCB, Diner’s Club, VISA, and MasterCard. There is a set minimum funding amount or deposit for credit cards at $250 as well as a maximum limit for withdrawals at $10,000 per day and $40,000 per month.
It is also possible to do deposits using wire transfer, Neteller, Skrill, Webmoney, Perfect Money, and OKPAY. Bank wire transfer is usually the option used by those whose countries don’t have access to accepted credit cards and e-wallets.
While the minimum deposit is pegged at $250, it is not necessary to make a deposit when signing for an account. The deposit is only needed when you already start trading.
The minimum investment amount is set at $24 with a maximum of $100,000 for High/Low trade and $5,000 for other types of trades. These amounts, however, vary depending on the country where the money originates.
Platform & assets
Over a hundred assets are being traded on 24option. They are as follows:
- Gold (XAU), Silver (XAG), Copper, Platinum XPT, oil, corn, coffee, sugar, XAU/JPY, XAU/EUR, XAU/XAG
- Please refer to this link for the complete list.
- Vodafone, PetroChina, British Petroleum PLC, BMW, Barclays PLC, Samsung Electronics, Google Inc., Apple Inc., ANZ, Royal Dutch, France-Telecom, BHP Billiton, Societe Generale, BBVA, Gazprom, Amazon, Nike, Rio Tinto, Citi Group, E.ON, Baidu, Amex, Facebook, Coca Cola, JPMorgan Chase, Microsoft, IBM, Exxon, McDonald’s, BNP Paribas, Sony, Disney, Tata Motors, Tesco, Netflix, ThyssenKrupp, GoPRo, ICICI, Sumitomo, AXA, Fiat
- FTSE-100, DAX-30, Dow Jones, Nasdaq Composite, IBEX- 35, CAC, S&P 500, Nikkei 225, SMI FUTURE, MIB-40 FUTURE, NIFTY, ASX 200 Future, Hang Seng Future, Bombay 30, Tadawul, KOSPI 200, MICEX, South Africa 40 future, TA-25
The 24option trading platform is one of the best around. It is a fully web-based platform from TechFinanciels. It’s the same platform used by the likes of Porter Finance, Finpari, Banc de Binary, IQ option, and BD Swiss.
It’s difficult to give any complaint on the navigation and the overall ease of use. The layout makes excellent use of the available space. The available tools are powerful and responsive. Proceeding with the trading process is a breeze. You can quickly find all the common function you need. The dark high-contrast theme, though, may not suit everybody’s liking. It still looks great for most users as the font and text sizes used are suitable but the high contrast white texts on a black canvas may easily strain the eyes.
If you don’t want to install the apps, though, you can just load the 24option.com on your mobile browser. The site automatically adjusts to display the best fit on a mobile screen. All features work as intended although not as optimized as the apps.
24option.com is a multilingual site that can automatically change language settings depending on the location of the person accesing it. Aside from English, the site is also viewable in French, German, Italian, Japanese, Spanish, Russian, Arabic, Portuguese, Swedish, Dutch, Norwegian and Polish.
24option can be contacted by email, phone, or live chat. For the email contact, you need to go to the Contact page to fill out an online form. Make sure that the email address you enter on this form is valid so you can get a response to the message you send. You can expect to receive a response to your email inquiry within the day. For telephone inquiries, the number to call is +44 203 693 8656. The live chat feature, on the other hand, can be accessed through the persistent “Chat Now” button on the right side of the 24option site. The live chat support is great overall. Response is very quick and the customer service person behind it is notably accommodating. You have to register for an account to use it but you can actually just enter an invalid email address and an alias. 24option assigns a personal account manager for you by the time you make your first deposit.
Pros & cons
24option is easily one of the best binary option brokers around. Being one of the first binary options brokers on the web is an advantage. It is a regulated broker and has a reliable platform used by several other brokers. It also helps that it is affiliated with the Investment Compensation Fund. 24option offers an excellent array of benefits and rewards as well as a wide market coverage. Moreover, it has a responsive customer support system and supports a good number of languages.
It’s difficult to find an issue with 24option. However, if there’s one that’s worth noting, it would be the need for a deposit (minimum of $220) to be able to access the demo account. You can’t try trading on the 24option system without actually putting in the $250 minimum deposit.
Head Office Telephone Number:
+357 25 262789
Head Office Email Address:
Customer Service By:
English, French, German, Italian, Japanese, Spanish, Russian, Arabic, Portuguese, Swedish, Dutch, Norwegian and Polish
Customer Service Hours:
Email Response Time:
1 day – minutes
Personal Account Manager:
Customer Care Telephone:
+357 25 262063
Customer Care Email: