Where binary options trading is accessible to everyone
Over the past 10 years or so, binary options trading has become increasingly accessible to people without a background in financial markets. The most professional online brokers are those who offer training opportunities for their traders, and 24option is one of the best brokers available.
24option offers a user-friendly, intuitive platform that makes binary options trading understandable to anyone, and the site makes it much easier for people with no background in finance or trading markets to understand the basics of binary options and to develop successful strategies that will enable them to earn excellent profits.
Of course, not every broker is the best for every trader. Traders have their own needs and styles and preferences, and even the best online brokers are not always the best fit for an individual trader. Therefore, this review will examine everything that 24option offers - the benefits and the educational options, the investment requirements and the potential payouts and bonuses. We will show the various membership options and the broker’s credibility, all in the hopes of allowing new and experienced traders alike to determine if this is a broker that can meet their individual needs.
- Broker Name:
- Year established:
- Authority (Jurisdiction):
- Replublic of Cyprus
- Regulated/Licensed by:
- CySEC - License # 207/13
- Registration Number:
- Frema Plaza, 1st floor, 39 Kolonakiou Street,
Ayios Athanasios, Limassol CY-4103
- Support Phone number:
- Phone numbers in 20 different countries are listed here - https://www.24option.com/eu/contact-us-eu/
- Support Fax Number:
- Fax numbers in 20 different countries are listed here - https://www.24option.com/eu/contact-us-eu/
- Email Address:
- Prominent Partners:
- Juventus Football Club
Boris Becker as advertiser
What is 24option?
24option is a leading online broker that provides a gateway to the world of binary options trading. Operating since 2010, one of the primary goals of 24option is to make binary options trading a simpler, and more accessible activity for everybody. The user-friendly platform is regularly being updated and improved to meet the needs of our users, and enables even traders with little or no experience to trade binary options successfully and profitably, while learning the world of finance and assets at the same time. The platform can be easily accessed by laptop as well as by mobile apps, providing even greater convenience to 24option traders.
Our favorite aspects of 24option
- Intuitive and user-friendly platform
- An extensive (and impressive) basket of assets upon which to trade, especially of currency pairs for forex trading
- State-of-the art technology
- Mobile apps enabling users to trade at any time from any place
- Supports 13 languages and is available in most of the world
- CFD trading for teh more experienced traders
- Excellent customer support that is available around-the-clock and throughout the world
- An extensive educational page, complete with videos, webinars and an e-Book
- Innovative platform with state of the art features and tools
Account types, Bonuses and Special Promotions
24option offers 5 account plans - Basic, SIlver, Gold, Platinum and Diamond. Maximum payouts range from 82% (Basic and Silver) to 88% (Diamond). All plan members have access to 24/7 customer service, professional charts and the educational packages available on the site. Platinum and Diamond plan members do not have to pay a monthly withdrawal fee, while trading alerts and a personal coach are available for Silver plan members and higher. Depending on the account plan, traders can receive as much as a 100% Welcome bonus with their initial deposit upon joining.
One of the most unique aspects of 24option is that traders can register and trade without choosing an account plan(of course, they will not receive any of the benefits that the plan holders receive).
24option offers a wide variety of promotions and gifts to its traders. Each promotion has its own terms and conditions - including eligibility and minimum trading volume required to redeem the bonus.
- Return on Investment (Payout rate - %):
- Up to 88%
- Welcome Bonus:
- Up to 100%
- Minimum Deposit:
- Maximum Investment Per Trade:
- $100,000 on standard High/Low trades (amount may vary depending on trader’s country of origin and currency being used)
- Minimum Investment Per Trade:
- Loss Protection:
- Up to 15% on selected assets
- Account Types:
- Basic, SIlver, Gold, Platinum and Diamond
- Account Currencies:
- EUR, USD, GBP, JPY, RUB
- Expiry Times:
- High/Low, One Touch and Boundary trades have expiry times of 15-30 minutes;, while Short term trades have expiry times of 1,2 and 5 minutes
Registration - Opening an Account
It is very easy to sign up with 24option. Along the top of the homepage is a “Sign Up” button (and in the graphic below the top are various buttons, such a “Trade Now,” Start For Free” and “Create Your Account”). By clicking on any of these buttons, the trader is directed to a registration form to provide details and the relevant personal information. Once a trader has registered, confirmed the account (via an email that will be sent) and deposited funds into his account, he is ready to start trading.
Banking - Deposits and Withdrawals
Deposits: Traders have several options for depositing money in their account. 24option accepts Visa, MasterCard, Discover, Diners, Switch, JCB, Skrill, and Neteller. Additionally, traders can deposit via wire transfers. The minimum deposit to begin trading is $250.
Withdrawals: Withdrawals must be made via the same method that the trader deposited funds into the account. Withdrawals can take up to 3 days for 24option to process. There is a 3.5% withdrawal fee when using credit and debit cards, and anywhere between 0.9% and 3.5% for eWallet withdrawals (depending on which eWallet). Wire transfer fees are as follows:
- USD 30
- JPY 3000
- CHF 20
- EUR 24
- RUB 1800
- CNY 183
- GBP 20
The 24option trading platform is a highly intuitive and user-friendly platform that makes trading binary options much more accessible to novice traders and both easy and enjoyable for those with more experience. 24option also has iOS and Android mobile applications, so traders are able to keep up with their accounts and make trades no matter where they are.
24option provides approximately 120 currency pairs, stocks, commodities and indices to trade upon. One of the unique aspects of the 24option trading platform is the high number of futures - both among the commodities and the indices - that traders can choose. The available currency pairs is especially impressive for traders who wish to trade on forex movements.
For the more experienced traders ready (and capable) to risk more than the standard binary options trading, there is the option to trade CFDs as well.
How to Trade
Trading with 24option is very simple and the website makes it’s even easier. Once a trader has opened his account and deposited funds, he:
- Looks at the assets available at that moment for trading
- Chooses an asset (or assets) on which to invest money
- Determine if the asset price will rise or fall before the trade expires
- Deposit the amount of money that he wishes on the asset
- Confirm the transaction
- Wait for the results and earn a profit
24option offers four types of binary options trading:
- High/Low: The “original” binary options trading type, in which traders purchase a Call option if they believe that an asset price will rise before the trade expires (generally 15-30 minutes), and a Put option if they believe it will drop. If their prediction is correct, no matter by how much or little, they earn money on the investment.
- Short Term: Almost exactly like High/Low trading, the only difference with Short Term trades is that the expiry times will be either 60 seconds, 2 minutes or 5 minutes from the time the trade is placed.
- One Touch/No Touch: Here, traders do not need to determine if an asset price will be higher or lower at the expiry time. Rather, they determine whether or not the asset price will touch an upper or lower limit before the expiry, no matter what the price is when the trade closes. In this much more volatile and risky trade type, traders can earn more money on successful trades - much as 400% return on investment.
- Boundary: Similar to the One Touch/No Touch trade, in Boundary trading, the lower limit is known as the “floor” and the upper limit is the “ceiling.” The trader must determine whether or not the asset price will close in between the floor and the ceiling. If it does, the trade is in the money.
Is 24option a scam?
We have scrupulously investigated 24option and have found that the broker is absolutely on the up-and-up. The site is closely regulated by CySEC, and the Terms & Conditions, which can be viewed from the website make very clear that 24option places great emphasis on transparency. It has been an active broker for six years, and has built a very positive reputation among traders in the world of binary options, and the broker is a partner with the highly regarded Juventus Football club. All of these elements point to the unmistakable conclusion that this is a reputable and trustworthy binary options broker.
Where is 24option Available?
24option is available throughout the world, with the following exceptions: United States of America, Australia, Israel, Japan, Canada, North Korea, and Belgium
24option supports 13 languages: English, French, German, Italian, Japanese, Spanish, Russian, Arabic, Portuguese, Swedish, Dutch, Norwegian and Polish.
Customer support and security
24option takes the privacy and security of its traders very seriously, as does its regulating body, CySEC. All transmissions on 24option are secured using 128-bit SSL encryption, and the customer service is available 24/7 via telephone, fax, email and Live Chat (an option that many of 24option’s competitors do not offer).
Pros and cons
- Excellent welcome bonus (up to 100%)
- Plenty of expiry options
- Up to $100,000 investment on any one trade
- Traders can trade without joining a membership plan
- Inaccessible to traders in some of the world’s best markets - such as the United States, Australia, Israel, Japan, Canada, North Korea, and Belgium.
24option is one of the best binary options brokers that we have found. The site has built an excellent reputation in the past six years, and we found this reputation to be very well-deserved. The site is completely secure, the customer service team is excellent, and the educational tools are suited to traders of any and all levels of experience. To top it off, the intuitive and user-friendly platform makes binary options trading not only profitable, but downright fun!