24Option Review and Tutorial 2019
|24Option Facts & Figures|
CySec regulated broker. Specialise in Binary Options, with a growing CFD and Forex offering too.
|FTSE Spread||1 pt|
|GBPUSD Spread||4 pips|
|Oil Spread||1 pip|
|GBPUSD Spread||4 pips|
|EURUSD Spread||3 pips|
|GBPEUR Spread||4 pips|
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.
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.
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.
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.
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:
To open a live trading account, you need to place a minimum initial deposit of $100.
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.
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 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.
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.
|CySec regulated broker. Specialise in Binary Options, with a growing CFD and Forex offering too.|