Buzz
In Europe, 24option is regulated by CySec (license number 207/13). The company adheres to MiFID terms and regulations. Binary options traders worldwide are satisfied and rate its trading platform as one of the best available in the market.
Trading Conditions:
- Asset Trading: 100.
- Option Profit: up to 89%.
- Minimum Deposit: $200.
- Minimum Trade Amount: $25.
- Demo Account: Available.
- Online Registration: Yes.
- Support Phone: +44 161 960 0200.
- Live Chat Support: Yes.
What is 24option? Is it a scam? General information about 24option
24option stands among the largest binary options brokers worldwide, abiding by EU regulations as well as MiFID.
The 24option platform enables brokers to utilize advanced trading tools and select from a diverse range of underlying assets. Additionally, platform users can execute trades directly on mobile devices, regardless of location, as long as there is an internet connection.
24option is dedicated to the successful trades of brokers by offering a range of useful services. For example, their trader education center provides extensive information on the intricacies of successful trading for newly acquainted traders, equipping them with fundamental knowledge to ensure successful trades.
All traders have access to video lectures, e-books, webinars, and personalized training programs at any time. All lessons cater to various audiences and can be beneficial for traders with different levels of expertise.
24option provides its clients with one of the most advanced service packages for binary options trading, including over 100 assets across 4 financial markets (forex, stocks, indices, and commodities). Additionally, clients have access to various options, including turbo options, touch options, border options, and several others.
With a stable reputation and a serious approach to trading activities, 24option has become a trusted partner of several renowned companies.
Advantages and Disadvantages of 24option
Advantages of 24option:
- EU Regulation: 24option holds a valid CySec license and complies with regulations outlined in the MiFID directive.
- Free Trading Signals: 24option offers all clients free access to trading signals to make informed decisions and better understand current market developments.
- Demo Account: The company allows their clients to familiarize themselves with the trading platform in a risk-free environment.
- International Awards: The quality of trading services provided to customers has earned 24option numerous awards in the financial technology sector. These include the Forex Magnates 2013-2014 award and the EGR Operator Awards in 2014.
- Timely Payments: In fact, brokers complying with MiFID regulations allow their clients to deposit and withdraw funds as quickly as possible and demonstrate good awareness of the individual needs of each client.
- Early Trade Closure: This service allows traders to close trades before expiration and profit from the trade (from 10 - 70%).
- 24/7 Customer Support: 24option supports their customers 24/7. Additionally, personal managers ensure professional assistance for traders in their approach and execution of trades.
- Relatively High Minimum Investment: Compared to the industry average contribution threshold, 24option has a relatively high minimum price, with $24 per trade.
Trading Conditions
This brokerage provides their clients with their own trading platform, developed to meet the company's requirements and constantly updated and improved.
With a minimum deposit amount of 200 USD, the company requires a higher deposit amount compared to other companies in the industry. However, in reality, 24option also offers a free demo account for clients to familiarize themselves and evaluate the platform's functionality in a risk-free environment.
The minimum purchase price on the platform is 24 USD, quite high compared to some other brokers. That's why traders should consider starting their trades with low base assets or higher liquid capital.
Tradable Assets
24option offers traders over 100 different assets, including currency market tools, commodities, stocks of the largest international companies, and some of the most important indices in the world.
Experienced forex traders often appreciate the diversity of currency pairs, including classic pairs like USD/JPY and USD/GBP, as well as other currency pairs, such as USD/MXN, NZD/CHF, or CAD/JPY.
Trading Platform
In contrast to most of its competitors, 24option doesn't opt to integrate readily available technical solutions into their platform. Instead, the broker creates its own user-friendly, efficient platform, safeguarding traders' funds securely.
24option offers 4 different types of option contracts, including: higher/lower, one touch, boundary, and 1-minute contracts.
- The high/low option is one of the most popular classic binary options. In this case, if the trader predicts whether the price of an underlying asset at expiration will be higher or lower than the entry point. If predicted correctly, the trader can earn profits of up to 89% of the selling price.
- In the case of the one-touch option, successful trading is determined by the price of the underlying asset reaching a predetermined level, allowing for a trade with the market price's volatility.
- Border option. Essentially similar to the one-touch option. However, in this case, the price must reach a predetermined level.
- Lastly, the 1-minute option, suitable for those confident in their trading skills and seeking to profit from the smallest market price fluctuations.
Types of Accounts in 24option
24option offers 3 types of accounts for different trading purposes: Standard account for novice traders, Gold account for experienced traders, and Platinum account for traders fully confident in their strategies and planning to trade with significant amounts.
All company clients, including those who open Standard accounts, have access to all platform functionalities and asset types. Moreover, 24option clients have access to the company's trader education materials, free customer support, ... often rare among binary options brokers.
Gold and Platinum account holders may receive some personalized services, such as personal financial advice and priority technical support. Additionally, VIP accounts offer higher profit margins for each trade, with an additional 2% for Gold account holders and 4% for Platinum account holders.
Deposits and Withdrawals
Clients can register with 24option through the company's website by filling out personal information on the form and confirming their age (must be over 18 years old).
Deposits and withdrawals can be made through various methods, including credit cards and e-wallets such as Skrill (Moneybookers) and MoneyGram, or bank transfer. 24option supports currencies USD, GBP, EUR, and JPY.
To withdraw funds, clients must fill out a form in the Finance operations tab in the personal account section. Note that according to the company's policy, funds can only be withdrawn to the account used for depositing.
To minimize the risk of third-party withdrawals. According to current laws and MiFID policies, to withdraw funds, clients need to provide a copy of their ID card, a copy of a document confirming their current residence, and a copy of both sides of the credit card (if funds are withdrawn to the card). 24option does not limit the withdrawal amount.
Regulations
Global traders worldwide highly appreciate 24option. The broker holds a full license (license number 207/13), and additionally, 24option complies with rules, terms, and policies as well as service and trading standards under the EU financial laws.
Trader Education
One of 24option's strengths is their approach to developing their customers' trading skills. Traders can access free training materials related to webinars, trading art books, interactive online tutorials, and a range of video lessons.
Furthermore, clients are provided with the opportunity to test their trading strategies with the help of a demo account. This way, traders can improve their skills and familiarize themselves with the platform without risking their capital.
Is Trading with 24option Worth It?
Note that in the coming years, 24option is setting industry standards. As of now, 24option leads the binary options trading market.
The company is reputed as safe and with high trading speed, 24option's clients will benefit from high-quality services in a risk-free environment.
If you're wondering what 24option is? Is it a scam? Hopefully, after this article, you've found your answer. Additionally, you can explore more about BDSwiss, another trading platform. Wishing you success.
