24option review – New focus only to CFD/FX

 

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 was one of the industry’s leading binary broker that is around since 2009. The broker, however, decided to change its offer only to CFD and FX trading as binary options industry is currently on the edge. 24option is licensed and supervised by the regulatory CySEC, FCA and it offers a free demo account for practise trading. Minimum deposit here is €250. They are also associated with sportsmen stars icon like Boris Becker, Conor McGregor or with the Juventus Football Club.

Detailed information about 24option

  • Our rating: (5 / 5)
  • Website: https://24option.com/
  • Instruments: CFDs – Forex, stocks, indices, commodities
  • Minimum deposit: 250 $
  • Leverage:  up to 1:300
  • 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 uses Tech Financials Trading Platform which is characterised by its simple navigation and by a very wide range of assets. At 24option you can trade up to 140 assets, which are sorted in the menu into three groups: indices, forex, stock, commodities. 24option is an international broker, therefore it is not much of a surprise that the platform is translated into a numerous number of languages. The only thing I might criticise about the platform is that you can not add indicators to the charts, but honestly, I don’t mind that much because for that I use MT4, which is far better for technical analysis than what can any broker offer. Spreads at 24options are dependable on the type account the trader holds. For basic accounts, it is usually 3 pips for majors, 4 pips for minors and 7 pips for exotic assets. With higher account type the numbers are rapidly lower.

Funding your account – Deposit and withdrawal 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 €250/£250/¥50,000/руб10,000. 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.

Educational center

I am very happy with the educational support that 24option offers to its traders. I would welcome that many educational materials even at other brokerages websites, but that is probably not going to happen. It is also an advantage of a huge broker like 24Option, that their work will really be seen and appreciated by so many traders.

  • Daily market analysis – Every day you are able to find here new technical analysis with charts. They are some sort of signals which you can consider for your trading. What I like about them is that every recommendation is explained and that you can find analysis here on almost every underlying asset.
  • Binary options daily – Here you can find fundamental news about Forex/CFD that is usually published 4 times per week (Mo-Th).
  • Video center – Consist of educational videos that are sorted into three groups: The basics, Intermediate and advanced. I find them quite instructive and helpful, especially the ones for intermediate traders. I definitely recommend checking them out to anyone.
  • 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 about Good Technical and Fundamental analysis strategy.

Prohibited countries + International support

24option does not accept traders who have residency in the United States of America, Australia, Israel, Japan, Canada, North Korea (DPRK) or Belgium. Apart from these countries, anyone in the world can open an account at 24option. You can contact 24option via online chat, e-mail or telephone. Here are numbers which you can use in order to reach out to 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 broker in the industry that is represented by UFC lightweight champion Conor McGregor, by professional tennis player Boris Becker or by Italian Juventus Football Club. 24option is a highly regulated broker that has apart from 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.

Your capital might be at risk

Michael
Author: Michael
Hi, I'm Michael and my area of expertise is forex and binary options trading. I specialize in technical analysis, namely in chart pattern setups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. I do not give investment advice, but for general inquiries please use the comment section under any article.

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