24Option Review and Broker Details

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24Option Review

24Option was once a very popular broker, but after the launch of Investous, they are barely heard of.

They offer investors the ability to trade on many assets types including; Forex and Crypto Currency CFD’s. Our review of the brokers 24Option shows, that they offer the clients what is called the Scipio Trading Platform. Investors also have access to popular online trading platform MetaTrader4 (MT4).

You will see that they have all major currency pairs available, and you will find both full size and mini CFD’s on popular Crypto Currency pairs. Bitcoin, Ethereum, Litecoin and Dash, and listed with spreads on Bitcoin currently at $70. Margin trading or leverage is limited to 30:1, for retail investors in the European Union.

One of the reasons that 24Option is such a popular Forex broker, is because of the many ways you can fund your account. International traders have the option to fund their trading account with; Neteller, OKPay, JCB, Switch, Skrill, Perfect Money and more. The minimum deposit for a new trading account is $250.

You should start with a practice trading account, which is available here.

24Option Reviews 2020

Is 24Option a Legitimate Broker?

The way that we review of Forex broker, to see if they are a legal company or a scam, is very simple. We check to see that they are licensed and regulated by a respected government regulator. Many investors do not realize that all brokers must have be licensed and regulated, in order to legally operate.

Click here to view details of 24Option regulatory oversight.

  • Europe: Owned by Rodeler Ltd, they are a financial services company authorized and regulated by the CySEC under license number 207/13, since July 11th 2020. They are also registered with BaFin in Germany, and the FCA in United Kingdom. On December 23rd 2020, CONSOB Italy banned this broker from accepting clients in Italy.
  • South Africa: Smarttool SA Proprietary Limited (Smarttool SA), is an authorized Financial Service Provider, regulated by the Financial Services Board (FSB) of South Africa. Their FSB license number is 48296.
  • International: Richfield Capital Limited is regulated by the IFSC in Belize, license number IFSC/60/440/TS/17.

When choosing a CFD Forex broker it is always important to check the list of licensed brokers here, to see if your broker is licensed by a government regulatory agency.

Risk Disclaimer: “81% of retail investor accounts lose money when trading CFDs with this provider.”

Broker Contact Details

24Option is owned by Rodeler Ltd, which is located at: 39 Kolonakiou Street, Ayios Athanasios, Limassol, Cyprus.

Contact phone number in South Africa is: +27 10 500 8042 and in the United Kingdom: +44 161 960 0200. Customer service email address is: [email protected] Official brokers website is: https://24Option.com.

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Find The Best Broker

If you are looking for the best online brokers for trading CFD’s, you should consider using one of the best brokers.

ForTrade is the best broker which is authorised by FCA United Kingdom, see here.

Try a Free Demo Account on their amazing trading platform, signup here.

Are you currently investing with this broker? Please share your experience in the comments section below.

24Option Forex Broker Review

Last Updated: October, 2020.

Based in Limassol, Cyprus, award winning online broker 24Option has been providing trading services since 2020. 24Option is a full service forex broker that recently expanded their services in December of 2020 to include trading in forex, CFDs, commodities, stocks and indexes.

24Option is owned by Rodeler Limited, which is regulated in Cyprus by the Cyprus Securities and Exchange Commission or CySEC under the CIF License number 207/13.

The company offers its services on a cross border basis to EU member states, which permit the provision of its services in their jurisdictions. Due to the company’s regulatory obligations, client funds are safeguarded by being deposited in segregated bank accounts.

The company is located at #39 Kolonakiou Street, Ayios Anthanasios Limassol, CY-4103 in Cyprus.

24Option is not currently active in the United States, so 24Option does not accept customers based there.

Unique Features of Trading with 24Option

24Option offers traders a wide range of underlying assets carefully selected to accommodate traders from around the world. The list includes CFDs on equity indexes from the world’s biggest economies, including the Dow Jones Industrials, NASDAQ, DAX, FTSE, MICEX and TADAWUL. CFDs are also offered on popular U.S. technology stocks like Google, Facebook and Apple, as well as on the stocks of the largest banks in Europe and Russia, such as Barclays, Deutsche Bank and Sberbank.

The company’s recently added a forex and CFD brokerage service, offering up to 400:1 leverage for forex trades, although restrictions apply on trading some currency pairs. 24Option offers trading in all major and minor currency pairs that include key currencies from nations around the world, like the EUR, USD, JPY, GBP, AUD and CHF, as well as exotic currency pairs. Traders with 24Option have the ability to trade via its proprietary platform, in addition to MetaTrader4 and on mobile devices using the iOS and Android operating systems.

Much like other forex online brokers, the company does not charge its clients commission, relying instead on widening a currency pair’s dealer spread to compensate themselves. 24Option offers quite competitive dealer spreads that depend on the customer’s account type.

Trading Software

In addition to allowing traders to use the popular MetaTrader4 platform developed by MetaQuotes, 24Option has developed their own dedicated trading platform in-house, which includes many interesting features not found on other trading platforms and that were previously unavailable on the company’s previous web-based platform.

Deposits and Withdrawals

The various 24Option account types are assessed and upgraded for each client according to an account manager’s evaluation. They include these types:

  • Basic – the 24Option Basic account requires a minimum deposit of €250, £250, ¥25,000 or RUB 10,000. Offers 1 basic lesson, daily news, trading central with sms alerts. EURUSD pips are at 2.3 and the leverage is 1:30. Outside of EU the leverage is 1:500 for all accounts.
  • Gold – The minimum deposit is EUR/GBP 5,000 Offers 2 basic lessons, 1 monthly webinar, daily news, trading central with sms alerts. EURUSD pips are at 1.8 and the leverage is 1:30.
  • Platinum – min deposit for Platinum account is EUR/GBP 10,000. In addition it offers 3 advanced lessons, 2 monthly webinar, daily news, trading central with sms alerts. EURUSD pips are at 1.4 and the leverage is 1:400.
  • VIP – minimum deposit is EUR/GBP 50,000. In addition it offers 5 advanced lessons, 5 monthly webinar, daily news, trading central with sms alerts. EURUSD pips are at 0.9 and the leverage is 1:400.

Outside of EU the leverage is 1:500 for all accounts.
The minimum deposit to open a live 24Option forex account is 250 EUR, 250 GBP, 1200 ZAR, 10K RUB and 250 USD, with a minimum transaction size of EUR/GBP 0.01 lot. Deposits to fund a 24Option live account can be made via credit card: the company accepts Visa, MasterCard and Discover, through Skrill electronic payment and through bank wire transfers. The company also accepts UCash, Neteller, Qiwi, Sofort, WebMoeny and PaySafe, to name just a few, but they do not accept PayPal payments.

The minimum deposit for a credit card is 250 EUR, 250 GBP, 1200 ZAR, 10K RUB, 250 USD. Deposits can be made in the following currencies: EUR, GBP, USD, RUB, ZAR. For an electronic payment minimum deposit amounts are: €250, £250, ¥50,000 and RUB 10,000, while for a bank wire transfer, they are £1,000, €1,000 and ¥100,000.

24Option also has some maximum deposit amounts, which is a daily limit of 10,000 Euros or Sterling and ¥100,000 for credit cards, and a monthly limit of 40,000 Euros or Sterlingand ¥4,000,000.

For withdrawals, the customer must first verify their account with a copy of a government issued identification such as a passport or driver’s license, proof of residence in the form of a utility bill and a copy of both sides of their credit card if that is where the withdrawal is being made to. This verification process needs to be repeated every time a new payment method is used.

Withdrawal requests are processed during normal Cyprus business hours from Monday through Thursday between 9:00 am and 4:00 pm and between 9:00 am and 1:30 pm on Friday. Basic account has 1 free withdrawal fee. Gold has 1 free monthly withdrawal. Platinum has 3 monthly free withdrawals. VIP has no fees at all.

Customer Support

24Option’s customer service department offers 24/5 live chat and email support, with telephone assistance in 12 countries. Their proprietary trading platform is also translated into 13 languages. The live chat attendant seemed rather slow to respond when tested several times.

In addition to its customer support department, the company offers a wide range of educational materials, such as daily market news and updates, live webinars and interactive eBooks. Their Trading Central feature allows clients to access third party market analysis and historical data. 24Option also provides videos on demand, with available topics including courses for intermediate and advanced trading in CFDs and forex.

Safety

In addition to its CySEC oversight, which ensures the broker is regulated in the European Union, 24Option is also a member of the Investment Compensation Fund, which gives each trader protection of up to €20,000 if the broker cannot fulfill its obligations.

The broker did have a recent issue with CySEC that reportedly resulted in a fine and citation in January of 2020, although it appears that they have now addressed most of those problems.

Conclusion

24Option is a well-established and regulated forex and CFD and commodities broker with an extensive array of tradable underlying assets and a unique, secure, state of the art trading platform. The company offers telephone support in 12 countries, and its trading platform has been translated into 13 languages.

In addition to offering traders, the customer service personnel is courteous and professional, although they seem rather slow to answer their live chat service.

The company’s trading platform has an intuitive interface. Also, the broker offers novice traders an extensive educational program. Nevertheless, the company does not extend its services to traders in the United States. To try 24option for free the demo account is accessible with no deposit and free.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

24option Review

Overview

The 24option cooperates only with banks authorised and regulated by EU member states and that are highly rated by credit rating agencies. The 24option is a CySEC regulated broker operating under license number 207/13

Details

Broker 24option
Website URL www.24option.com
Founded 2020
Headquarters 39 KOLONAKIOU ST., AYIOS ANTHANASIOS, CY-4103 LIMASSOL, CYPRUS
Support Number +357 25 262063
Support Types Live Chat, Phone, Contact Form, E-mail
Languages English, Italian, German, French, Russian, Spanish, Portuguese, Arabic, Japanese, Swedish, Danish, Dutch, Finnish, Norwegian
Trading Platform Tech Finacials
Minimum 1st Deposit $250
Minimum Trade Amount $24
Bonus BONUS UP TO 100%
Payout Up to 88%
Free Demo Account Open Demo
Regulated
Regulation CySEC (Cyprus) № 207/13
Commission Info No
Account Types Standart, Beginners, Gold, Platinum, Diamond, Islamic
Deposit Methods Credit/Debit Cards, Bank Wire, Skrill (MoneyBookers), CashU, Neteller, Sofort, Neosurf, Webmoney, etc.
Withdrawal Methods Credit/Debit Cards, Bank Wire, Skrill (MoneyBookers), CashU, Neteller, Sofort, Neosurf, Webmoney, etc.
Number of Assets 130+
Expiry Times 60sec, 2minutes, 5minutes
Option Types High/Low, One Touch, Boundary, Short Term
Account Currency EUR, USD, GBP, RUB, TRY, CNY, JPY, CHF
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 9.8/10

Full Review

The 24option began operations in 2020, and was one of the first brokers in the market. Since then, many new tools have been designed and introduced to simplify and improve trade sessions for users.

When starting to work with 24option, you will first be able to open a demo account to practice. This will greatly reduce the chances of losing your money as a result of inexperience. There is also a 24option Education Center, which can bring you lots of benefits in learning the rules of trade.

In addition, you will be offered one-to-one training with an expert. Clients of 24option receive a chance for permanent contact with a financial adviser through a live chat, email or telephone to discuss potential profits and different strategies. We believe that this is a great advantage for all traders, even experienced ones.

One of the main advantages is that the 24option broker is regulated by CySEC and follows all regulatory rules (Cyprus Securities and Exchange Commission), to ensure safe and secure trading.

Deposit and withdrawals

A good sign is that the amount of money you can earn is not limited! There are brokers who will not allow you to withdraw all your profits if the profit is too large. This fact can create a lot of trouble and cause anxiety among traders. The 24option refrains from doing this, allowing applications for withdrawals, so the traders can get their money as quickly as possible. The customers receive a payout within 3-5 working days (or within 1 day if you have a VIP account). In order to withdraw funds, you can use credit/debit cards, Moneybookers, bank transfers, Neteller, Qiwi, Webmoney and a number of other payment systems, which are represented in the image below.

You should keep in mind that the 24option allows 1 free withdrawal per month; if you withdraw money more often, a commission is applied. The commission depends on the account level you have reached. For the platinum accounts, no commission will be charged for withdrawal of funds.

Owners of regular and gold accounts only get 1 withdrawal free of charge per the calendar month.

Complaints about 24option

Our team searched the information on the Internet for any complaints, and we found some negative comments, but it seems to be the manipulation of competitors; the criticism that has been objective has been resolved by the company in a positive way.

On several forums, some customers complained that they did not receive the approval of a withdrawal and waited a week. We do not believe this because, firstly, their problems have been successfully resolved by the broker, and secondly, in the «Terms and Conditions» section, you can find the dates within which the broker must meet its obligations and how long it takes to perform the procedure.

If we find complaints about 24option, we will post it on social media. Follow us to be well informed:

The 24option is a scam? The 24option is currently one of the most law-abiding of brokers on the market. It has been regulated by the Cyprus Commission for the Securities and Exchange Commission (CySEC).

Regulator

The 24option was one of the first brokers that received a license from the financial regulator. Trading with a regulated broker provides a high level of service and protection to clients. Being regulated by CySEC (Cyprus Securities Commission and Exchange Commission), the 24option has a so-called «EC passport» to provide services within the European Union in accordance with MiFID (EU Directive «About Markets in Financial Instruments»). Thus, the 24option is one of the safest brokers for European traders.

Bonuses

If you were not registered earlier and just opened an account for the first time, you can earn a bonus. The amount of the bonus varies depending on the type of account you open. It is usually 30% of the initial deposit but can reach up to 100%.

We recommend you to follow the news: the 24option often announces information on additional bonuses or prizes. For example, a current bonus gift is a MacBook. They also hold many other trading contests with real prizes. If you decide to take a bonus from 24option, you should carefully read the terms for the use of the bonus, because every broker has certain conditions that must be followed by traders.

Summary

A final summary on 24option broker. All in all, the 24option is one of the leading brokers on the market. The company has more than 6 years of experience as a broker, and every year they increase the number of services and bonuses offered to their customers. The minimum deposit is only $250, and the minimum bet size is $24. They also offer free trading signals which can be used on the trading platform.

The broker has a large section devoted to education, with free e-books and many videos. Most importantly, the broker is regulated by CySEC, so you can enjoy a safe and secure trade.

Conclusion

In summary, we can say that the 24option is a regulated, 100% reliable and safe binary options broker. The company is fully compliant with the high level of service standards set by the EU. The minimum deposit amount is only $250, making it easy to start trading.The 24option takes first place in brokers ranking at FraudBroker.com and is the best choice for European, Arabian and Asian traders.

Reviews

I have been trading at 24Option for over a year. The platform is quite excellent, I have a few things to warn you about – Upon the registration, you must enter your real personal data for the future verification for further profit withdrawals. Also, read their bonus policy for problem-free obtaining. Overall, a good, safe broker, I would recommend it personally. Thanks. Marc.

Why most of you keep losing to your trade brokers is because you don’t make use of any strategy in trading binary, Note binary has gone beyond all that trading without a strategy, no broker account would want you to make profit while they are losing… so it the other way round you lose while they win, have been trading for over two years now and it has been a very different dimension for me because i have been trading with a very new strategy that has been able to lift my trades accurately giving me wins of about 7-8 daily…it no fluke have been able to help enough people raise up there investment with enough proofs to show you, my one to one masterclass strategy would save you years of time wasting and funds wasting if only you are prepared to learn binary trade is one thing i have come to understand ,it’s all about you having a nice broker, using the rite strategy and above all knowing how to read the trend and if you need assistance on how to make withdrawal from your account easily even when bonus was giving to you or recover the money you have lost email me at [email protected]

Here is a list of issues I have had with 24Options:
Impossible to try the demo account without putting in a £400 deposit, basically tying me up to 24Options even though I hadn’t tried the platform yet to check it would meet my expectations and requirements, as in others I tried in the past.
I didn’t use the account for a while and then realised I had been charged a withdrawal fee of about £50, although I had not been notified, as per section 2, Inactivity Fees’ paragraph in their General Fees Terms and Conditions. I am not entirely sure exactly how much I was charged as this sum doesn’t figure on the account banking history.
The dormant fee was withdrawn a second time and still with no notification, although this time, it did figure in the account history.
The General Fees T&Cs specify the dormant fee will be applied if there are no transactions on the account. I did use the demo account and therefore assumed that it would be classified as transactions. If that wasn’t the case, this should have been made clear in the T&Cs.
Online customer service is very slow and abrupt: the guy I was chatting with suddenly closed the chat saying he had to go, even though I wasn’t finished with my questions.

100% SCAM. STAY AWAY FROM THEM, I repeat STAY AWAY FROM THEM. All they want is your money once they get it, they’ll be done with you.

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