24Options is a popular name in the binary options trading industry. 24Option is a Cyprus company that started operating as a binary options broker in 2010 and has been one of the longest binary options broker providing customers with quality service through their easy to use trading software.
24Option offers its many users innovative features and a broad range of trading options for the lean investor and the financially powerful. Despite providing an international service, the residents of the United States and Australia cannot trade on the 24Options binary options platform. The company is regulated by CySec of Cyprus and has also passed the regulatory requirements of other countries including the UK.
In this 24Options review, we will provide traders with all the specific and general details they need to know about 24Options.
– The firm is domiciled in Cyprus and started operations in 2010
– The company is regulated by CySec but is also registered with many other European regulators.
– It offers over 120 underlying assets and over 60 options.
– Offers customers Demo account with virtual currency of $40000
– Have high returns of more than 88 percent and over 400 percent payouts
– It provides excellent customer support in more than 14 languages.
– It has an excellent trading platform with a unique mobile app for mobile trading.
– It provides excellent collection of free educational materials for the training of every category of trader.
24Options provides traders with different types of account including the standard, gold, and platinum to suit different budgets and level of expertise. 24Options also gives users the option of a demo account and an Islamic account.
For beginners or traders with minimal experience in binary options trading, 24Options provides a demo account to help you learn how the platform works. The demo account comes with $40,000 of virtual money for practice trading and features all the functionality of real accounts. 24Options Demo account lets you try out the broker so you can decide if you are comfortable with its features without risking your money. If you are satisfied with the experience, only deposit into the account to upgrade it to an account that can be used for real trading.
24Options Standard Account
The 24Options Standard account is offered free of charge. The standard account gives traders access to trade all options, one free withdrawal every month, access to the Trading Central analysis tool and round the clock access to customer support.
24Options Gold Account
The Gold account comes with all the features of the Standard account and additional two percent return on all winning trades.
24Options Platinum account
The Platinum account offers traders more value. Apart from getting unrestricted access to all the features offered on the platform, platinum account users get live updates on binary trades and market trends. They also have access to a personal coach, live training and free withdrawal of their earnings.
24Options Islamic Account
24Options Islamic account is one of the selling points of this binary options broker. Conscious Muslims are usually faced with the challenge of choosing investment options that are in agreement with Islamic law. With 24Options Islamic account, Muslims are provided with an account that offers only trading options in line with Sharia rulings. The Islamic account does not give commissions or interest and is designed to be free of usury. The interface of the Islamic account is in Arabic, and all the support materials are also in Arabic.
Trading takes place every week days from 5 am to 10 pm. The expiration time of trades on the 24Options binary options platform range from short term to long term. Short term expiration times include 60 seconds, two minutes, five minutes, 30 minutes and one hour. Long term expiration times are five hours, 24 hours or more and end of month expiry times.
Trading on the 24Options binary options platform requires a minimum deposit of $250 and minimum investment of $24 and a maximum investment of $100,000. The platform has a maximum return of 89 percent and provides free trading signals. The platform promises mouthwatering returns, but there is also a significant risk of losing all your investments.
The trading platform is available in many languages such as Arabic, Chinese, Danish, English, French, German, Indonesian, Italian, Japanese, Latvian, Portuguese, Romanian, Russian, Swedish and Turkish languages.
In our review of 24Options binary options broker, we found out the platform offers traders over 60 options and more than 120 underlying assets and base CFDs which gives traders more flexibility in their choice of trading options. Available underlying assets include commodities, currencies, indices, and stocks.
Commodities: Traders can choose from a variety of 11 different commodities such as coffee, copper, crude oil, gold, silver, and platinum.
Currencies: Thirty Currencies can be traded on the 24Options platform in the form of Forex pairs. Currencies available for trading include USD/GBP, USD/EUR, USD/JPY, USD/CAD and so on.
Indices: 24Options provides 19 indices from which traders can choose to trade. Some of these include the Dow Jones, S & P 500, FTSE 100, and Hang Sheng of China.
Stocks: There are 43 stocks traded on the 24Options binary options platform. Some of the world’s leading companies have their stocks traded on the platform.
Options refer to any trade that will result in either a profit or loss for the trader. There are three kinds of options including Time Specific, Underlying Asset Specific and mixture options. 24Options provide traders four options. These include the High/Low option, One-Touch and No-Touch, Boundary, and 60-second options.
24options has a robust payment system that makes payment possible through a variety of bank, credit card and electronic payment platforms. Users can pay through wire transfers, but $1000 is the minimum that can be deposited through this channel. Users can also deposit through most credit cards including MasterCard, Visa, Discover, Dankort, Laser, Maestro International, Carte Bleue, Liberty Reserve and so on. Electronic payment is made through Neteller and Skrill. Traders can deposit money in US Dollars, British Pound Sterling, Euro and Japanese Yen but you can’t change your currency option in the future. Withdrawals will also be made in the currency of deposit, and users get one free withdrawal every month.
Fund withdrawals from Skrill attract a fee of two percent, credit cards 3.5 percent and 30 percent for wire transfers. Withdrawals can take up to five work days to be effected and requires the user to produce documents such as copies of photo ID and credit card, and proof of address. This is done to comply with anti-money laundering regulations.
24Options has reliable security architecture to protect the dealings of its customers. With the help of the latest 128bit SSL encryption technology, every user’s personal and trading data is kept secret. In compliance with CySec regulations, 24Options separates all client deposits from operating capital, and funds are protected by the Investor Compensation Program of Cyprus.
24Options offer its users excellent customer support service. Users can contact support through email, live chat, and telephone in different languages which include English and the other languages in which the platform can be accessed. The customer support is available 24 hours every day, and users can contact them if they need any assistance regarding their accounts and trading activities.
Users of 24Options Binary options broker have access to a wide range of educational materials to help them develop their trading skills. Available educational materials cover the beginner, intermediate and professional levels of binary options trading. Users can get free trading e-books, e-courses, interactive e-books, videos and many other materials to help them learn the best strategies to employ for maximum gains. All these materials can be accessed on the broker’s website.
In this review of 24Options binary options broker, we found out the broker is among the leaders of the industry. It has a long history of providing customers with a vast array of trading options, and it gives generous returns, as high as 88 percent on trades. 24Options gives users a demo account with a massive $40,000 deposit of virtual money, so they can learn the workings of binary trading without risking their hard earned money. The Islamic account also provides Muslims with an avenue to engage in binary options trading fully compliant with Islamic injunctions. The trading platform is versatile, simple, attractive and free of clutter. 24Options has a responsive customer support which quickly helps users take care of any issue arising from their usage of the platform. The broker is regulated by CySec and also meets the regulatory standards of the United Kingdom and other countries, and this helps to boost the confidence levels of traders in their operations. If you require a trusted binary options broker, with an excellent track record and high returns in the binary options industry, 240ptions is a perfect choice. Users should note, however, that binary options trading are surrounded by lots of risks, and even though the rewards might be great, the losses can also be phenomenal.
This article may also be interesting: AnyOption Binary Option Review.