Being a premium regulated broker who has been in the industry right from the start, 24Option has had enough time to make a solid impression. 24Option impresses with its well-rounded trading platform, registering with multiple regulators, and cementing its place as a truly global binary options broker with support in 18 countries and growing.
The extensive array of assets, variable expiry times, generous payouts, and exciting no-limit withdrawals are plenty more reasons why the broker remains a top-draw for traders regardless of experience level. Where 24Option makes an enviable, unsurmountable mark is its courteous, professional customer service, which is second to none in the industry
About the Company 24Option
24Option is one of the better-known names in the industry. The broker opened its doors for service back in 2009, making it one of the longest-running brokers still in business.
Starting out, CBAY owned 24Option. In December 2013, after a successful four-year run, CBAY merged with Rodeler Ltd—a financial services company. At the moment, Rodeler Ltd manages 24Option.
Licenses, Regulation, and Location
The parent company of 24Option—Rodeler Ltd—currently maintains a valid CySEC license with license number 207/13, which it acquired in July 2013.
As a licensed broker, the Cyprus Securities Exchange Commission (CySEC) pedantically regulates the activities of the broker. Therefore, the regulator (CySEC) will take up any complaints you may have against 24Option, when you forward your grievance through the appropriate channel.
In addition, the CySEC regulation of 24Option offers the broker legal possession of the high-value “EU Passport” requisite for providing financial services within the European Union, as sanctioned by the MiFID.
Aside being licensed and registered with CySEC, 24Options remains actively registered with the following esteemed regulators:
- FCA in the United Kingdom
- BAF in Germany
- AMF in France
- CONSOB in Italy
24Option is also a member of the Investment Compensation Fund that accords each trader protection of up to 20,000 euros, if for any reason a broker is unable to fulfill its obligations.
24Option maintains two international offices, both located in Europe. Head Office: 39 Kolonakiou Street, FREMA PLAZA, First Floor, Ayios Athanasios, Limassol, Cyprus. UK Office: 15th Floor 99 Bishops Gate, London
Payout and Refund
24Option offers a wide range of payouts that start at 60% and go as high as 88%. The payouts range between asset types and even individual assets in an asset category.
For example, the average payout for major forex pairs is 82%. For minor and exotic pairs, the average return is 70%.
You can also close your trade within the periods of 2 minutes after starting your trade to 5 minutes before expiry. This represents a rare generous chance to close your wins and cut your losses before the terms of your contract expire.
Refunds start from as low as 2% to as high as 15%, which is the one of the highest in the industry.
Trading Platform and Mobile Trading
One of the most important factors when choosing a binary broker is the trading platform. 24Option uses a custom proprietary solution developed from the ground up in-house.
Tech Financials supplies the trading engine on which the platform runs with amazing results. First off, the platform is fluid. The UI is purely intuitive and the UX is amazing making navigation a breeze.
Placing a trade is very simplistic with features, tools, and assets arranged pedantically in an uncluttered fashion. It appears and feels like a piece of technological haven because a lot of thought as gone into it.
Since its first iteration in 2009, the platform has gone through the works repeatedly and emerged refined every time. Plenty of new features have made welcome appearance. The experience has been tweaked and amped to push up the usability of the platform and reflect the most recent changes and yearnings in the binary options trading community.
Even better, 24Option consistently rolls out improvements and tweaks both subtle and major on the platform. Thus, the 24Option Tech Financials is one of the most updated platform in the industry.
- Mobile Web Trading: The broker also features an alternate website optimized for smartphones, other smart mobile devices, and mobile web trading in general. Using this adapted platform, you can easily access your account on the go as well as monitor existing trades and make new trades.
- Mobile Apps: In addition, 24Option offers mobile apps on the two largest mobile platforms—iOS and Android. The mobile apps represent a mobile trading alternative that is just as intuitive, convenient, and functional as the basic trading platform.
Number of Assets and Expiry Time
The number of Assets on 24Option is never a static number. The broker adds new assets from time to time thus increasing the diversity of the broker and options available to esteemed traders.
Currently, 24Option boast of more than 100 assets split in four asset classes. These include:
Amongst these are popular assets like EUR/USD, Gold, Oil, S&P 500, FTSE-100, APPLE, and GOOGLE. There are even obscure assets like AUD/CHF, Corn, TA-25, and THYSSENKRUPP.
Even better, 24Option collaborates with the leading financial solutions in the industry to provide a holistic overview of essential asset information. Yahoo Finance provides the live charts of recent price fluctuations, while Leverate Quotes (an industry leader used by some of the biggest forex institutions like Saxo Bank) provide real-time quotes.
Expiry Times on 24Option range from as low as 30 seconds to as much as a few months, thus providing a unique opportunity to apply any strategy regardless of if you prefer short-term volatility or the guarantee of limited long-term fluctuations.
Payment Options and Trade Sizes
Deposit and Withdrawal
24Option offers a long list of payment channels for both deposits and withdrawals to facilitate ease of entry. The broker supports popular options like credit cards and Skrill as well as lesser-known options like Neosurf and Giropay.
The minimum deposit amount is $250.
There is no limit to withdrawals (i.e. there is no minimum withdrawal amount and you can initiate a withdrawal at any time), and you can get your withdrawn money within 3 to 5 business days (or 1 day if you have a VIP account).
24Option may charge withdrawal fees depending on your account type and payment method; however, these charges are minute and you can eliminate them by upgrading to a higher account type.
This refers to the amount you can use to place each trade. Despite the minimum deposit amount being $250, you can use as low as $24 to place a single trade.
The minimum trade size fluctuates between assets; the lowest however is $24 for most assets. The current limit is $100,000 per trade.
24Option Account Types
24Option boast an array of different real trading account types to cater to different categories of traders. There are five different account types, from lowest to highest in hierarchy:
Each higher account type offers more perks than account types that are lower in the hierarchy. For example, Platinum and Diamond accounts do not pay withdrawal fees on all withdrawals while gold accounts receive one free withdrawal per calendar month.
In addition to real accounts, 24Option offers two other principal account types:
- Islamic Trading Account
- Demo Account (You would have to meet the minimum deposit obligation of $250 before you will gain access)
24Option like most premium binary options brokers offer different types of trading contracts for increased variability. They include:
- Classic (High/Low and Above/Below)
- One Touch (High Yield Touch and Touch/No Touch)
- Short Term (Expiry range of 30 seconds to 5 minutes)
- Boundary (High Yield Boundary and Standard Yield Boundary)
24Option beats the competition effortlessly in this regard. Aside providing its website in more than 10 languages, it offers support in 18 major languages and regions with toll free and localized numbers to reduce telephone charges significantly on the side of clients.
Even better, the broker offers a standard suite of four major communication channels including:
- Live Chat
- Website Contact Form
Without doubt, 24Option is one of the most client-friendly brokers in the binary options industry.
24Option enjoys a sound reputation around the web and in the offline scene. It is an official partner of the Italian football giant Juventus and French football behemoth Olympic Lyon.
Aside those hefty endorsements, its reputation of being customer-friendly precedes it, such that when clients may have had subtle issues, support staffs clear the issues with flair and in a thorough, courteous manner.
What else can 24option offer?
This is a very expansive educational resources right in the heart of the brokers website with everything from eBooks to video tutorials. The center encompasses vital topics from how to get started trading Binary Options to how to develop your own trading strategy. It is a goldmine for both newbie traders and experienced traders alike.
Bonuses are a sure way to rack up more capital to push your profitability when trading binary options. 24Option offers an exciting bonus of up to 100% on deposits. The more exciting fact is that after trading a specific volume, you are free to withdraw the bonus and any profit on top.
24Option routinely carries out contests and competitions with mouth-watering prizes of tens of thousands of dollars with minimal rules and entry requirements.
Special offers make a show down randomly especially on auspicious occasions with very interesting giveaways. You should keep an eye out for these offers and promotions that may include free MacBooks, iPads, Juventus FC tickets et cetera.
Other extras include:
- Integrated Platform Signals
- Free webinars
Pros and Cons of 24Option
- Seasoned, established, and premium regulated broker of repute
- Unique, secure, and updated trading platform
- Extensive array of asset types
- Support for over a dozen languages
- Dedicated, courteous, and professional customer support
- Exciting range of benefits and incentives
- Extensive payment options and no-limit withdrawals
- Does not offer services to US traders
- Requires minimum deposit obligation of $250 before granting access to demo account
Is 24Option the best binary broker?
While the fact that 24Option does not offer its services in the US may seem like a drawback, many other premium brokers adopt the stance, and owes to EU regulations rather than the sole decision of 24Options.
Proof of this is in the mammoth expansion that 24Option recorded in recent years with multiple foreign languages supported and providing local support in most continents in the globe.
The many benefits and pluses of 24Option render its few subjective constraints diminutive, thus pushing it to the forefront as one of the best binary brokers in the industry today.