24option was submitted to our inspection. In this extensive review, you can find out, whether it’s worth to trade with this broker or not.
24option has been around since 2008 and has become an attractive choice of many investors who are looking for a safe and transparent CFD company with one of the tightest spreads in the industry. The company offer CFDs on cryptocurrencies, forex, stocks, indices and commodities. A free demo account can be opened at any time, real trading is possible with the minimum deposit of $100. The company supervised by the regulatory body CySEC, FCA and is associated with sportsmen stars icon like Boris Becker, Conor McGregor or with the Juventus Football Club.
Detailed information about 24option
- Our rating: (3.6 / 5) 5th Place in our ranking comparison
- Website: https://24option.com/ (CFD service, 84.94 % lose money)
- Instruments: CFDs – Cryptocurrencies, Forex, stocks, indices, commodities
- Minimum deposit: $100
- Demo account: Yes
- Methods of deposit and withdrawal: Credit/debit cards, Skrill, wire transfer, Perfect Money, OKPAY, Neteller, Webmoney, Qiwi
- Mobile app: Yes, available in App store and in Google Play
- Operator: Rodeler Ltd. (Cyprus). Regulated by CySEC, FCA and is overseen by other 27 regulatory authorities.
Trading platform & Spreads
24option clients can either use MT4 to access their account or a WebTrader platform which is characterised by its simple navigation and by a very fast execution time of trades. The company offers to trade up to 170 assets, which are sorted in the menu into five groups: cryptocurrencies, forex, commodities, stocks, indices. 24option is an international broker, therefore it is not much of a surprise that the platform is translated into a numerous number of languages.
Spreads at 24option vary on the account type a trader holds. However, even on the basic account, the spreads are one of the best in the industry. On one Bitcoin coin, the spread is $70 on currency pairs EUR/USD and GBP/USD it is 0,8 pips, on USD/JPY it’s only 0,6 pips and on a minor currency pair EUR/GBP it is 1 pip.
Note: Spread were recorded on 10.10.2018 at 15:45. Spreads can vary at different times, high fluctuations occur only rarely.
Funding your account – Deposits and withdrawals at 24option
In order to fund your account, you can use a credit card, Skrill, wire transfer, Perfect Money, OKPAY or Neteller. The minimum deposit is $100/€100/£100. However, if you decide to deposit money by wire transfer then the minimum deposit is €1000/£1000/¥100,000/. Once you have verified your account, the withdrawals are quite fast. I made a request for withdrawal on Tuesday at around 3 PM (to my Skrill account) and the other next business morning (We) it was already approved. If you have more options to fund your account, I would recommend using: Skrill, Webmoney, Neteller or credit card.
While the educational support that 24option offers is very useful, it will probably not replace all your other sources when analysing the market. That said, the company offers a good number of educational materials that are definitely worth checking out from time to time.
- Financial news headlines – These ones are meant to give you a review of certain markets and explain to you what (and why) has happened during a particular trading day.
- Video center (VOD) – Consist of educational courses that are sorted into three groups: The basics, Intermediate and advanced.
- E-book = 24Option offers one free – ebook of 54 pages. Browsing in the e-book is quite hard, but when you overcome this obstacle you can find really nice information which is accompanied by charts, so you know exactly what is explained.
- Online webinars – As a trader of 24option, you can take advantage of their free online webinars. They are usually held 4 times per week, tomorrow’s webinar is, for example, “technical analysis basics”, the next one will be – “experienced trading analysis”.
Prohibited countries + International support
24option does not accept traders who reside in the United States of America, Australia, Israel, Japan, Canada, North Korea (DPRK) or Belgium. Clients from other countries are welcomed to open an account with this company. 24option customer support can be contacted via online chat, e-mail or telephone. Please see the telephone numbers below that can be used to get in touch with them. If your country is not listed, you can use Cyprus number, which functions as a base of 24option’s operation.
Is 24option a scam?
24option is one of the most reputable brokers in the industry that is represented by the UFC lightweight champion Conor McGregor, by professional tennis player Boris Becker and by Italian Juventus Football Club. 24option is a highly regulated broker that has aside from the CySEC license also 28 other permits from regulatory bodies like FCA (In the United Kingdom), Consob (Italy), PFSA (Poland), BaFin (Germany). The whole list of all competent authorities where the broker is registered can be found on the website. So no, we definitely do not consider 24option to be a scam.
CFD service, 84.94 % lose money