24Option is one of the mainstays of the binary options industry. The owner of a CySEC license, it stands out from among the multitude of similarly regulated brokers, by virtue of age as well as several unique qualities and features. It hosts major trading competitions on a monthly basis, making it possible for its traders to pocket thousands of extra dollars. Learn more in our 24Option review.
24Option review – all about the broker
The operator also offers great bonuses on decent terms. The maximum returns are in the neighborhood of 89% and the site provides its traders with free signals – a truly valuable asset for beginners. Among the various option types that it supports, 24Option features 30 second options too. Another peculiarity about the operation is that while its minimums on investments are as low as $24, the maximums go all the way to $50,000.
Unlike the majority of their peers, who use SpotOption and Tradologic platforms, 24Option have chosen Tech Financials. What this means is that traders are met with a rather unusual interface, which delivers all the perks and functionality that it has to though. The broker offers a secondary site too, which is optimized for tablets, smartphones and other mobile devices. The 24Option platform currently supports four different option-types. Besides the above mentioned short-term options, they also have classic Put/Call binaries, as well as One Touch and Boundary trades.
To allow their users to have their trading experience customized based on their financial means, their goals and their level of expertise, 24Option have created a number of account-types meant to cater for as diverse a cross-section of the trading community as possible.
The Standard Account is a very reasonable setup for beginners and even for advanced traders. It slaps no restrictions on the tradable asset selection, its maximum payout rates can be as high as 88% and it provides 24-hour customer support.
Those looking for a little bigger bang for their buck, may opt for the Gold Account. This setup allows traders to earn an extra 2% on their investments, while enabling them to withdraw free of charge/commission, once a month.
The Platinum account offers unlimited free withdrawals and 4% more on trades, while the Diamond Account takes that number to 6% and throws in a Free Demo Account. To access the Demo account, traders are required to make a $250 deposit though.
24Option’s asset selection is superb. Traders have some 30 currency pairs they can choose from, in addition to 11 commodities, 19 indices and 45 stocks. Such a vast asset-selection creates many trading opportunities and more ways to put to use the signals offered by the broker.
Having been around since 2010, 24Option has often been the target of fraud claims from a number of disappointed traders. While it’s indeed quite certain that there are traders who lost money at the site, it is also certain that their losses did not result from foul play of any type on the part of the broker. Some scam reports are also disseminated by 24Option’s competitors. None of these check out though, and the overwhelming community feedback in regards to the operation is positive. In fact, it is safe to say that 24Option has grown into a the preferred trading destination of many a trader since 2010. Their CySEC license compels them to conduct their operation in full accordance with the EU’s MiFID directives.
Deposits and withdrawals
24Option support several languages and they accept deposits/honor withdrawals in a number of currencies as well. The minimum deposit at the site is $250, but EUR and GBP are accepted as well, in the same amount. Another option is to make a 25,000 JPY deposit. The deposit/withdrawal interface is one of the simplest and most straightforward in the business.
The accepted deposit methods cover wire transfers, credit cards as well as an impressive number of eWallets, like Neteller, Qiwi, Skrill and Giropay.
Customer support at the site is available in 13 languages and they’re apparently working on expanding that further. The truth is though that live chat support is mostly in English. Response times on emails are fast, and – as said above – even the most basic customers are entitled to 24 hour assistance. Besides email and live chat, 24Option also support a number of toll-free, regional phone numbers for those all-important questions that bear no delay.
Everything tossed into the middle, it’s easy to see why 24Option is one of the most popular binary option brokers out there. Their market coverage is unparalleled, their payout rates are very attractive and their platform has a peculiar type of exclusive appeal to it. Add their monthly trading competitions into that mix, and you have a sure winner!