With the number of binary options trading platforms currently available to the prospective trader, it is important to select a broker that is reputable and dedicated to the success of its traders. 24Option, a Cypress based and regulated trading firm, has shown itself to have just this goal in mind in developing and curating its operations. Through educational tools, diverse assets and an easy to use trading platform, 24Option has created a trading experience that offers advantages to traders of all experience levels and with any amount of investment capital. This review will explore the platform, support and features of 24Option in order to help traders make an informed decision about whether or not this broker is right for them.
24Option makes use of a simple yet effective trading platform designed to streamline the trading process. This simplified system offers the advantage of extreme ease of use, a considerable benefit for newer traders. Using this system, traders may open positions on more than 100 underlying assets. Asset categories include stocks, indices, currencies and commodities. This wider range of assets is helpful for those who prefer to trade in less volatile markets, as there are always more stable assets to turn to when and if a given trader’s preferred asset experiences a period of increased volatility.
24Option is also among the best brokerage options for newer traders because of its low minimum investment requirement relative to its high returns. In order to open a position on 24Option, a minimum trade amount of only £24 is required. While there are option trading platforms that offer lower trading minimums, this is still relatively low and is offset by the potential returns. Returns on positions will vary, but can be as great as 89 percent ROI. This means that an investment placed at the minimum of £24 offers the trader the potential to realize a profit of £21.36, a return that can be found in very few other places for such a low investment.
In addition to its binary options platform, 24Option also allows traders to execute trades on CFDs. This further increases the versatility of the platform, as traders who have mastered the ins and outs of an individual asset or category of assets can realize profits through multiple trading methods. New traders, too, can begin to get a feel for CFD trades in order to broaden their trading skills as they progress with binary options.
Another area in which 24Option clearly prides itself is customer support and service. Trained support staff can be reached at any time by phone, email or live chat streams. These staff members can easily answer specific questions about the platform and provide guidance as needed. A fairly comprehensive FAQ page is also readily available on the site to help with more general and common inquiries.
Beyond this direct support, 24Option also provides its traders with a set of top-notch educational tools and data sets to help them trade more successfully. Daily financial news and analysis, strategy tips and a regularly updated economic calendar provide traders with critical market information that can make the difference between profit and loss when deciding which direction to take on a new position. Educational tools that teach specific trading techniques and principles are also available at beginner, intermediate and advanced trading levels.
Deposits and Withdrawals
Deposits and withdrawal transactions to and from a 24Option account may be conducted via credit or debit card, wire transfer or any of a wide range of electronic transfer services. A minimum initial deposit of £250 is required to begin trading, while a minimum of £10 is required to make a withdrawal. Withdrawal fees apply and vary with the method of transfer used to make the withdrawal.
Bonuses and Promotions
24Option offers a range of promotions which are introduced throughout the year. Since each promotion is different in nature, the benefits vary according to the individual promotions. Additionally, traders have the option to upgrade their accounts as they increase their trading volume. Upgraded accounts grant benefits such as higher returns, access to more educational tools, personal coaching and even access to trained financial professionals. As traders progress to higher account levels, the 24Option platform becomes more and more profitable and versatile.
Overall, 24Option is an excellent brokerage service that provides strong customer support, versatile features and an easy to use platform. Its few weaknesses come in the form of a somewhat high required initial deposit and a lack of constant promotions. However, these are more than made up for by extremely high potential returns, low withdrawal requirements and the myriad benefits that traders gain access to at higher account levels. The benefits of 24Option are greater for traders who are just starting out, but the platform is also very functional for managing the higher trade volumes typical of experienced traders. On the whole, 24Option is a platform that should be considered by any trader who is looking for a new brokerage service.