24Option Review 2024

24Option has closed or no longer accepts UK clients. See the UK broker list for options.
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24Option is #11 in our rankings of binary options brokers.

24Option Facts & Figures

Trade nearly 200+ global stocks at 24Option via CFDs. Spreads are competitive and stop loss and take profit orders are available. Even trade new cannabis firms in Canada!

Instruments CFDs, Forex, Stocks, Cryptos
Demo Account Yes
Min. Deposit $250
Mobile Apps iOS, Android and Windows
Payments
Min. Trade 0.1 Lots
Regulated By CySec
MetaTrader 4 Yes
MetaTrader 5 No
cTrader No
DMA Account No
ECN Account No
Social Trading No
Copy Trading No
Islamic Account No
Leverage 1:30 (EU), 1:200 (Global)
FTSE Spread 1 pt
GBPUSD Spread 0.2 pips (var)
Oil Spread 1 pip
Stocks Spread 0.2% Var
Forex 24Option deliver a high quality forex trading service, with over 45 currency pairs and variable spreads from just 3 pips.
GBPUSD Spread 0.2 pips (var)
EURUSD Spread 0.2 pips (var)
GBPEUR Spread 0.9 pips (var)
Assets 45+
Stocks Trade nearly 200+ global stocks at 24Option via CFDs. Spreads are competitive and stop loss and take profit orders are available. Even trade new cannabis firms in Canada!
Cryptocurrency 24option offer crypto with the tightest margins. They also offer markets against a range of currencies, not just USD.
Coins
  • BCH
  • BTG
  • BTC
  • ETH
  • LTC
  • XRP
  • XRM
Spreads BTC 0.4%, ETH 0.5%
Crypto Lending No
Crypto Mining No
Crypto Staking No
Auto Market Maker No
Ladder Options No
Boundary Options Yes
Risk Warning – Your Capital is at risk

Established in 2008 initially as a Binary Options broker, 24Option is a leading CFD and binary options broker that is owned by Rodeler Ltd. The broker’s head office is located at 39 Kolonakiou Street, FREMA PLAZA, First Floor, Ayios Athanasios, Limassol, Cyprus. For traders outside of the European Economic Area, clients of 24Option are serviced by a separate company called Richfield Capital Limited based in Belize.

24Option are No longer accepting new clients. Please visit the Brokers page.

Although the primary offering by 24Option has been binary options, 24Option has recently begun to offer CFD trading in keeping abreast of the trend in the industry. In many ways, this is not a big departure from binary options, as CFD trading still requires you to decide on the direction of a price movements as well as the amount to be invested. The main difference is the fact that with CFD trading, there is no expiry time for the CFD contract. The CFD trader decides how long he wants to keep his trade open.

Regulation & Reputation

In terms of regulatory oversight, 24Option is regulated under 2 regulatory agencies. For operations within Europe, 24Option is regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license no. 207/13 issued to Rodeler Ltd. For operations outside of Europe, 24option comes under the jurisdiction of the International Financial Services Commission of Belize. The authorization is issued to Richfield Capital Limited under the IFSC registration number IFSC/60/440/TS/15-16.

24option Bitcoin trading

Trading Platforms

In terms of the trading platform used by 24Option, the broker previously used the binary options trading platform that was powered by TechFinancials.

However in their bid to extend their product offering, 24Option now uses a proprietary platform called Scipio to provide CFDs and binary options trading services to their clients.

In addition to the Scipio proprietary trading platform, 24Option has also made available the popular MT4 trading platform for traders who wish to trade the spot forex and CFD market. The main attraction of the MT4 platform is the advanced trading tools that have been integrated into the platform. This gives traders at 24Option the choice of two different trading platforms which they can use to trade the CFD market.

Mobile Trading

Every trader that finds him or herself on the move, need not worry about having to miss trading opportunities while they are away from their trading terminal with 24option.

With the free mobile trading apps provided by 24Option, you can now trade the financial markets directly from your smartphone or mobile devices.

The apps are available for download both on Apple’s App Store or Google Play Store. With the 24Option mobile trading app, traders can now check their trading account status, execute trades as well as keep updated with all the latest developments in the markets.

24option mobile app

Trading Accounts Offered

There are 4 different types of trading accounts available at 24Option for you to choose from. The trading accounts are categorized into Basic Account, Gold Account, Platinum Account and VIP. A breakdown of the benefits within each level are below:

24option account Types

To open a live trading account, you need to place a minimum initial deposit of $100.

Bonus

As a company that tries to be in full compliance of all existing regulations, 24Option no longer offer bonuses or promo offers as per stipulated in the circular C168 (30/11/2016) and C194 (16/03/2017) issued by CySEC.

Instruments

Currently, the firm has a wide selection of underlying assets for their clients to choose from. In total, there are more than 130 different types of underlying assets. The selection comes 4 main asset classes mainly currencies (34 pairs), commodities (11 types), market indices (25 indices) and stocks (61 companies).

Customer Support

Customer support at 24Option is provided on a 24/7 basis. Traders can reach the support team through email, live chat or the telephone. For the following countries, localized telephone support is available:

Belize, Brazil, Chile, Colombia
Malaysia, Mexico, New Zealand
Peru, Russia, Saudi Arabia, Singapore
Ukraine, United Arab Emirates

Deposit & Withdrawal

For the funding and withdrawal of funds at 24Option, there are a variety of methods that you can use. The supported methods include VISA, Mastercard, Discover, Diners, Switch, JCB, Skrill, Neteller and bank wire transfer.

FAQ

What is the minimum deposit requirement to open a trading account?

The minimum deposit requirement is $100.

How fast can my withdrawal request be processed?

The typical processing time required for a withdrawal request at 24Option is 3 business days.

Is 24Option a reliable broker?

Yes. 24Option is a reliable broker as it is regulated in multiple jurisdictions. In addition, the broker has established a reputation as being one of the leading names in the industry.

What kind of trading platform does 24Option have?

24Option offers two types of trading platforms, a proprietary platform called Scipio and the MetaTrader 4 platform.

What is the maximum leverage available?

The maximum leverage offered by 24Option is 1:30.

Compare 24Option with Other Brokers

These brokers are the most similar to 24Option:

  1. AvaTrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for trading, alongside a comprehensive education center and multilingual customer support.
  2. XTB - Founded in 2002 in Poland, XTB now serves more than 935,000 clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 5,600+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring traders.
  3. CMC Markets - Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.

24Option Feature Comparison

24Option Compared With Similar Brokers
24Option AvaTrade XTB CMC Markets
Rating 2 4.9 4.8 4.7
Markets Forex, Stocks, Crypto Forex, Stocks, Commodities Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities
Minimum Deposit $250 $100 $0 $0
Minimum Trade 0.1 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Demo Account Yes Yes Yes Yes
Regulators CySec ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM FCA, CySEC, KNF, CNMV, DFSA, FSC FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
Bonus - - - -
Education No Yes Yes Yes
Platforms MT4 MT4, MT5 - MT4
Leverage 1:30 (EU), 1:200 (Global) 1:30 (Retail) 1:400 (Pro) 1:30 1:30 (Retail), 1:500 (Pro)
Visit
Review 24Option
Review
AvaTrade
Review
XTB
Review
CMC Markets
Review

Trading Instruments Comparison

Comparison of 24Option Trading Instruments
24Option AvaTrade XTB CMC Markets
Binary Options Yes No No No
Ladder Options No No No No
Boundary Options Yes No No No
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Crypto Yes No Yes No
Commodities No Yes Yes Yes
Oil No Yes Yes Yes
Gold No Yes Yes Yes
Copper No Yes Yes Yes
Silver No Yes Yes Yes
Corn No Yes Yes No
Futures No No No No
Options No Yes No No
ETFs No Yes Yes Yes
Bonds No Yes No Yes
Warrants No No No No
Spreadbetting No Yes No Yes
Volatility Index No Yes Yes Yes

24Option vs Other Brokers

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Trade nearly 200+ global stocks at 24Option via CFDs. Spreads are competitive and stop loss and take profit orders are available. Even trade new cannabis firms in Canada!