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24Option is among one of the world’s largest Forex and CFD brokers. It was established in 2010 with headquarters located in Cyprus. It is owned and operated by Richfield Capital Limited.
24Option provides services internationally except within the European Economic Area. Unlike most online trading brokers, it has its own trading platform. Furthermore, the broker is also an official partner of Juventus Football Club which is a professional football club in Turin, Italy.
24Option is 100% safe and legitimate. Richfield Capital Limited, the owner of the company, is an authorized business registered in Belize and regulated by the country’s International Financial Services Commission. It operates under the license number IFSC/60/440/TS/15-16. The office of the company is located at No. 5 Cork Street, Belize City.
The broker is also regulated by the Cyprus Security and Exchange Commission (CySEC) and by other authorities in different countries including the Authority for the Financial Markets in Netherlands, the Czech National Bank, and the Financial Conduct Authority or FCA in the United Kingdom.
24Option is not a scam. As a matter of fact, it has been in the forefront of the industry for several years. It is renowned for its strict adherence to the regulations of various countries where it offers services.
Though it has managed to stay on top of the industry for the past years, 24Option is not necessarily an all-perfect online trading broker. Just like all other companies in the industry, it has its own advantages and a fair share of disadvantages.
The advantages of using 24Option are the company’s legitimacy and security, secure deposits and withdrawals, easy sign up process and various account options, large number of underlying assets and trading tools, and unique trading platform.
24Option has an official representative in each of the 20 countries where it offers services. It abides by all the regulatory guidelines; funds that flow in and out of the company’s platform are insured and secured by numerous firewalls.
Aside from that, the company cooperates closely with the largest banks and other liquidity providers in the world. It also uses advance, internally-developed technology to secure every section of its trading system.
It is easy to deposit funds into an account in 24Option. The company offers a wide range of payment and transfer options to its customers. These include E-wallets, wire transfer, and credit cards such as MasterCard, Visa, and Discover.
Likewise, withdrawals may be made through several ways. There are, however, additional requirements when requesting for transfer. These requirements are required to be submitted as mandated by anti-money laundering policies. The rule is also implemented to expedite processing of withdrawals.
Compared to other sites, 24Option has a quicker sign up process. There are fewer questions and fields to fill out. Registering in the site takes only a few minutes.
Clients can choose to sign up and create any of the three types of trading account offered by 24Option. They can create a basic, silver, gold, platinum, or diamond account. Each account type has its own advantages and disadvantages.
The broker has a huge number of underlying assets including stocks of the largest companies in the world (car manufacturers, telecommunications and technology companies, oil companies, etc.). Indices, currency pairs, and commodity options such as copper, silver, platinum, gold, and crude oil are also available.
The broker’s trading tools, on the other hand, can be classified into four groups: classic binaries, short-term binaries, one touch binaries, and boundary binaries. The variation among the broker’s trading tools provide better trading experience to clients.
Most online trading brokers today depend on web trader to provide a trading platform to its customers. Though web traders are generally easy to access, they have a lot of disadvantages that may compromise users’ trading experience. But these are not a problem to 24Option as it has its own internally-generated trading platform.
The broker’s specialists were able to produce the company’s own trading platform that works almost similarly as the famous trading platforms such as MetaTrader and cTrader. This internally-generated platform allows inclusion of unique features that cannot be found in other web-based trading platforms.
This trading platform is considered to be the most innovative software used in binary and forex trading. And it is undoubtedly the strongest advantage of 24Option over all its competitors.
There aren’t really much to complain about 24Option except for its past issues regarding bonus offers and the occasional delays in the broker’s trading platform.
Many traders, especially beginners, complained about the restrictions entailed by the broker’s bonus offers in the past. This, however, should not entirely be pinned on the company. It is the responsibility of all traders (beginner or not) to read the terms and conditions of any bonus offered to them before accepting it.
Blindly accepting the bonus for its mere attractiveness is the common problem among traders whether in 24Option or in other options brokers. This problem, however, has been significantly reduced since the new legislation prohibiting bonuses for new traders was passed.
Again, this problem is not limited to 24Option. Occasional delays in trading platforms are not new and they happen to every binary options and forex broker’s platform. Though the three to five seconds of delay may be a big deal to some traders, this kind of problem surely does not occur every time.
The issues regarding usage of 24Option are relatively minimal compared to the advantages the broker offers to its customers. Therefore, it is still safe to consider the broker as one of the most reliable trading brokers out there.
Aside from the mentioned uniqueness of 24Option’s trading platform, it also has a user-friendly interface that allows users to move through the platform with ease. Any new trader can easily join and sign up by clicking the sign-up button on the upper right corner of the broker’s website.
The registration is a quick and easy process. A user only needs to fill out the form with the requested information including his bank account details. There is, however, no need to deposit right away. New traders are allowed to navigate the site even without funds in their account.
Depositing to an account is only required when the user wants to start trading. The minimum deposit in 24Option is $250. A new trader can choose which among the five types of account he wants to register to. The broker has four VIP accounts namely diamond, platinum, gold, and silver accounts.
There is also a demo account available for new traders who want to familiarize themselves with the trading procedures and with the site’s trading platform without the actual risk.
24Option also has email addresses and telephone numbers which a trader can contact whenever he needs assistance or if he wants to inquire something about his account. Meanwhile, if a user needs immediate help, he can access the site’s live chat.
What’s more is that all these features are accessible through mobile devices. 24Option has a mobile app that is available in both google and apple app stores.
The 24Option Forex/CFD is a mobile app developed by the broker to provide convenience to its customers. Apps like this are important for this kind of industry as binary and forex trading calls for real time monitoring of option prices. With the mobile app, customers can now access the site’s trading platform whenever they need to, without having to turn their desktops or laptops on.
In 2016, the CySEC officially banned brokers from offering bonuses to new traders in binary options, CFDs, and rolling spot forex. Thus, 24Option can no longer offer bonuses to its new traders.
This, however, is not much of a loss. Old traders would know that accepting bonuses in the past were not necessarily advantageous to new participants. Most bonuses offered by binary options brokers back then entailed hard-to-meet requirements that would often result to traders, not being able to reap their rewards from such bonuses.
Fortunately, 24Option can provide great trading experience to its customers even without the bonuses. With its various trading tools and a maximum return of 88%, the trades become more exciting and rewarding for clients, not to mention the broker’s promotional offers.
Meanwhile, for new traders who do not want to risk their actual money without first trying a few trades, there is a demo account available for them.
The demo account is available for all new traders. The trader must first register to the site before he can avail himself of the account. Any account, whether it is diamond or basic, is accepted and there are no other requirements other than such registration.
The demo account provides a n