UPDATE
Introduction
24option is a well-established and pioneering binary options broker servicing various clients from across the globe including Europe, Asia, Africa and the Middle East. They are currently authorized and regulated by the Cyprus Securities and Exchange Commission and registered with the Financial Market Authority, the Hellenic Capital Market Commission and other trusted financial authorities of EU Member States.CFD and Forex Trading Now Available
In 2017, 24option has made some improvements by launching a new custom platform that offers forex and CFD trading as well. This gives their clients more options to invest in the financial markets without the need to switch to another broker. This is an interesting new development but is it worth trading with this brokerage? Let’s find out in this review.
Account Features
Demo Account: Trade with no risks at all
24option offers a demo account which is an important trading tool that can be utilized for getting used to the platform and experimenting with various trading strategies. This feature can be requested from their support team after the registered account has been verified and an initial deposit of €250 has been made.
Account Types: Basic, Silver, Gold, Platinum and Diamond
24option doesn’t offer welcome bonuses anymore in accordance with the guidelines of the CySEC. However, they have 5 types of accounts which have different perks and benefits.
Trading Details
Platform: Extremely fast and responsive
I never had any problems with their platform because it loads extremely fast on my browser. The Scipio-powered platform was very easy to use and loads lightly on the web browser.
Mobile Trading: Apps available for download
I’m the type of person who takes the internet with me wherever I go so I was really glad to know that 24option has a dedicated mobile site which gives me the freedom to trade on the go. They have also developed specialized apps for iOS and Android mobile users and this has all the same features that can be found on their web-based platform. It’s the perfect solution for my very busy lifestyle.
Tradable Assets: Plenty of choices
In order for me to expand my trading experience, I need to have a good range of underlying assets to choose from and fortunately 24option has an ample selection which gives me the opportunity to expand my trades. They have a wide variety of Binary Options assets such us currency pairs, stocks, commodities and indices that are available for trading 24/7.
Minimum Trade: Industry standard
The minimum amount that they accept for a single trade is €24 which is a dollar lower than what most brokers require.
Payout Rate: Significantly high!
The payout rates depend on the type of the option selected but I find most of the amounts to be very satisfactory. The majority of the available options are around 70% to 80% while the highest rate is at 88%, something that most brokers cannot offer (investors can lose all their capital).
Trading Instruments
High Low
The standard trading instrument is known as High Low and it has a good range of expiries.
Short Term
Aside from the standard High Low options, they also offer short term options that expire in 60 seconds, 2 minutes and 5 minutes.
100% Payout
This instrument literally pays 100% if your speculation if the underlying asset will close higher a specific price or lower than another specific price.
Deposit & Withdrawal/Support
Minimum Deposit: Not too high, not too low
Their minimum deposit requirement is €250. This is not the lowest in the market but it is not the highest either. For me this amount is well within the acceptable range as most brokers do require the same initial deposit amount.
Deposit Methods: Lots of options
In order to make a deposit, I have the option of using various payment methods like credit card, electronic payment or wire transfer.
Withdrawal Processing Time: Fast and guaranteed
In compliance with the anti-money laundering policies they require proper documentation for the initial withdrawals and the processing can be done on the same day if the request was received within business hours. Otherwise, it gets processed the next business day. This is much better than the standard processing time of the majority of the brokers today which exceeds beyond a week.
Support
Channels: Communication made easier
I never had any difficulty contacting the support team because they can be easily reached using various methods. I can simply call them up by phone, send a message via email or fax or get instant assistance with the help of the live chat.
Availability: Round the clock
Contacting them anytime is not a problem because the support is available 24 hours day, 7 days a week.
Supported Languages:Multilingual customer service
It’s also an advantage that they support various languages such as English, Chinese, French, German, Spanish, Italian, Japanese, Turkish, Russian, Arabic, Danish, Indonesian, Korean, Latvian, Portuguese, Romanian, Swedish and Greek.
User Reviews
Average User Rating: 8.5
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Editor’s Opinion
Platform Design: Visually pleasing and engaging
I certainly enjoyed using their platform which has a very sophisticated and stylish design. It was very organized and doesn’t have any unnecessary and distracting elements. It’s very user-friendly and I’m pretty sure that even newbies won’t have a hard time getting used to the interface.
Support: Customer service at its finest
The support was no doubt fast in providing help and assistance. Regardless if they were contacted via phone, email or live chat, they deliver the same quality of service that is fast and reliable.
Reputation: Rock solid
They have a well-established name in the market and are known to be one the world’s leading brokers. I usually find this broker ending up on the top of the list of recommended brokers by trusted review sites and financial experts. Having approval and registration from CySEC and other financial regulators is important for me, to know that my investment is safe and secure.
Conclusion
Editor’s Rating: 90
24option has definitely done an amazing job in providing a straightforward platform that has plenty of useful features and value-added extras. Their years in the business and expertise in financial markets makes them one of the best choices for trading binary options.
mark b
I’ve been trading with 24option for the past 2 years and up to now I’m still one of their loyal customers. They are the best in terms of customer service and platform quality.
Nill Adams
Overall I’m very happy with my trading experience with 24option. I have signed-up with other brokers and had a lot of issues with them particularly with the customer support and withdrawals but at 24option I never experienced any issues and have already made sizable profits for the past 3 years.
Ben Berger
As a novice trader, I find 24option’s platform to be very user-friendly and they have greatly simplified the whole trading process so even newbies like us can easily get used to the entire system without getting lost or confused.
Anna
24options trading platform is packed with a lot of useful tools that really helps in making more informed trading decisions. They are definitely one of the most fully equipped binary options trading platform around.
George M.
The user interface is very fluid and doesn’t lag compared to other platforms. This is definitely an advantage especially when the markets are highly volatile.
Brian Parker
24option is still my top pick because they remain to be the best in the binary options market.
Mitchell Lemaster
For the past years I have been trading with 24option and so far I have never experienced any delays in my withdrawals. I tried trading with other brokers but none of them were able to match 24option’s quality of service
Hunter A. Taylor
Their trading competition is a great way to earn additional funds. It’s also interesting to see how other traders are also doing.
Jeremy Jones
Same here. Been joining the competition for the past 2 months and was able to make it once in the top 15 list!
Wayne
In my opinion, 24Option still remains as one of the top binary companies today. Over the past 12 months I have been able to make profits of around $500 with this broker. Thank you!
Luca Fuchs
24Option is the best, I simply love their platform it has so many extras that help when making decisions
Chariton Konovalov
I have been trading with 24Option for some time now and these are my observations:
-Platform runs well on the browser. I’m using a PC that I bought back in 2003 and experienced no slowdown
-Mobile app compatible with Android Ice Cream Sandwich or higher
-Customer support was accommodating
Jethro BT
Does the 100% welcome bonus come with strings attached?
Robbie J
It does come with terms and conditions which I find to be reasonable. You can find it in their site.
Dennis Peterson
I prefer using 24option’s mobile app on my phone as it gives me instant access while on the go. My only comment is that they don’t have a live chat on it.
Ivan Dibs
I’ve compared 24option’s payout rates with my previous broker and it’s much better. The available assets are more diverse too.
Bob Poe
Their trading signals are useful. I was able to place much better trades with this feature.
Rex Patton
Be sure to use their signals. This feature is very helpful in making good trades.
William A. Timmons
I was able to check out their signals and I agree that it is indeed very helpful. It serves like a guide on what asset is best to place your investments on. Very informative
Bailey Briggs
Seems that they made some improvements to their platform. Nice to see that they now have CFD trading.
Owen Hunter
Are you sure that they are now offering CFD trading?
Bailey Briggs
Yeah I am pretty sure they do, because I am currently enjoying the profit I am making out of it.
Dena Packard
I still believe that this broker is one tough broker with a very good reputation that withstand a lot of odds. Most of the prime broker they have competed with are now out of the game, and are no longer operational but they still are.
Landon Bernstein
Were you able to notice the latest update from 24option?
R Sauler
Has anyone been able to try the new forex/CFD service? How was it?
Jay Fox
Yes. I have been able to test out their CFD service and I must say, they have a good selection of assets to invest on.
G. Silvo
What’s the difference of binary options from CFD trading anyway?
John Wayne
The main difference of CFDs from binary options is that the potential profit or loss will be based on the difference between the starting and the closing price of your trade..
Matt
With binary options, your profit is based on rising or falling market conditions. With CFD, they pay you according to the difference between the asset’s value at the strike price and its value after the contract is closed.
August Hudgens
Were there any truth about the reduction of 24option’s minimum deposit?
Alfonzo Burley
Well, you heard it right, the initial deposit required for 24option platform is now $100 instead of $250. So I guess people can now make easy connections with 24option.