24Option opened its doors to the investing public in 2010 and has since build a stellar reputation as one of the most trusted online brokerage firms among traders worldwide. The broker, as the name suggests, was initially at the forefront of binary options trading but in 2017, moved away to only offering forex, cryptocurrency and CFDs trading. But its history stood this broker in good stead; digital options are known for their simplicity, and 24Option has managed to make spot forex and CFDs trading a straightforward, exciting and trouble-free experience for both new and experienced traders. With advanced and innovative trading platforms as well as broad customer support and regimented banking systems, 24Option has redefined the online forex and CFDs trading scene and is definitely worth any trader’s attention.
24Option License and Regulation
The 24Option brand operates in two forms: 24Option EU for Europeans and 24OptionInternational for non-EU residents. 24Option EU is owned and operated by Rodeler Limited, a Cyprus Investment Firm which licensed and regulated by CySEC (Cyprus Securities and Exchange Commission) under license number 207/13. Since CySEC is a member of ESMA (European Securities and Markets Authority), it means that 24Option also operates in compliance with MiFID II (Markets in Financial Instruments Directive), whose specified objective is to promote transparency in financial firms as well as provide greater client protection.
Non-EU residents are served by 24Option International, which is operated by Richfield Capital Ltd, a Belize Investment Firm, licensed and regulated by the IFSC (International Financial Services Commission of Belize) under the license number IFSC/60/440/TS/17). Both 24Option EU and 24Option International register all their clients as ‘Retail’ to ensure they qualify for the highest degree of protection from the relevant regulating agencies.
24Option Scam Or Legit?
For traders, trading with a regulated broker gives them the peace of mind that their funds are safe and secure. Regulated brokers hold client funds in segregated bank accounts, separate from their own operating capital accounts. Regulated brokers also subject themselves to random platform checks by the regulators to ensure they observe fair pricing guidelines and that they stream transparent price quotes for their tradable financial assets at all times. With all this in mind, and with 24Option strictly following the regulations as laid out by the regulator, 24Option is not a scam broker. Instead, they are recognised as a leading and reliable broker in the online trading world.
24Option Demo Account
The 24Option demo account is an excellent way to test the trading platform and to also test one’s trading strategies. By being able to trade within a real live trading environment, without the risk of losing any money, you are able to test and understand the different features and tools available on each platform. Simply join 24Option, and gain access to their demo account with $100,000 in virtual funds.
Trading Platform
24Optionoffers two trading platforms: its proprietary web-based trading platform and MetaTrader 4. Its web-based platform is simple and non-cluttered. The user interface is very user friendly and allows traders to make quick trades in the market. It is also very informative, giving traders all the details (in terms of risk and reward) about any trade they wish to place in the market. Traders are also able to switch their charts between candlesticks, line and bars. They are also able to access the Economic Calendar tool and Daily Market updates directly on the platform. Traders can also contact customer support staff straight from the platform, ensuring a seamless trading experience.
The 24Option MetaTrader 4 platform is available for download for both Windows and Mac. MetaTrader 4 has served traders for decades and it is known for its reliability, great user experience and advance charting capabilities. Traders can also implement automated trading strategies on the 24Option MetaTrader 4. Both the web-based platform and MetaTrader 4 are available on mobile devices to give traders even more convenience and flexibility. The web-based platform is accessible from any smartphone on any browser. The MetaTrader 4 mobile app is available for download from both Google Play Store and Apple iTunes. 24Option mobile apps help traders to always stay on top of their trading activity; keeping track of their open positions at all times and being on the lookout for high quality opportunities that can be exploited in real time.
On all 24Option trading platforms, traders can trade various financial assets, such as currency pairs, numerous American and European stock CFDs, leading equity indices and spot commodities. 24Option also boasts literary the widest range of cryptocurrencies available for trading in the spot Forex market.
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Trading Resources
24Option has put together a thorough educational package to help traders of all levels improve their trading knowledge and technique, at their own pace. In its library, there are plenty of ‘How to’ eBooks teaching traders the basics of forex trading and all about navigating their trading platforms. There are also advanced material and videos discussing, in detail, different trading strategies and styles that can be applied on different types of financial assets. On the ‘Education’ tab on their main website, there is a schedule for all upcoming webinars and seminars. Attending such sessions give traders the rare chance of gleaning from the vast knowledge and trading experience of veteran traders.
24Option has also partnered with Trading Central to provide its traders with advanced market analysis of the most popular trading assets. Good research is vital for success in forex and CFDs trading, and Trading Central, with its customizable options, proactive analytics and educational guidance, ensures that traders are able to optimize their trading strategies so as to enhance their profitability.
24Option also provides the Economic Calendar tool to help traders track and stay ahead with key economic and political events or news releases that might drive prices or impact demand and supply forces of their favourite financial assets. The 24Option Economic Calendar is highly customizable. It gives traders the option of selecting the type of news they want to track as well as the time they wish to receive platform alerts on their preferred news releases. When used effectively, the Economic Calendar tool can help 24Option traders implement a successful news trading strategy on their favourite financial assets.
Banking
24Option operates a safe, secure and extremely efficient payments processing system. You can deposit or withdraw from your trading account using a range of convenient methods such as bank wire, MasterCard, Visa, Discover, Switch, JCB, OKPAY, Perfect Money, Skrill, Neteller, Qiwi, Giro Pay, Astro Pay and iDeal. The minimum deposit amount is $250, and 24Option allows traders to begin trading within moments of completing a successful deposit. All withdrawal requests from verified accounts are processed within 24 hours to help traders enjoy their profits as quickly as possible. There is no maximum limit on your withdrawals, and 24Option charges no fees when you are depositing or withdrawing from your account.
24Option employs the highest security standards throughout its site and banking infrastructure. All data is encrypted using the latest SSL encryption, while all transactions are managed through Level 1 PCI international payment service. This guarantees that, at no given time, confidential client details are compromised.
24Option Customer Service
24Option understands that responsive and professional customer support is vital for a great trading experience. This is why they have a detailed ‘FAQs’ section on their main site to help traders get quick self-help when they have any issues. Aside from that, you can contact their highly responsive multilingual support team anytime via phone, live chat or email.
Final Word
24Option is an established brand in online financial trading, a reputation it has built for offering consistent stellar services for traders over the years. They have extensive client support and superior trading platforms. 24Option is also multi-regulated; ensuring that traders have a safe trading environment where they can worry about nothing else other than their trading success. Want to enjoy the ultimate forex, Bitcoin and CFD trading experience?Sign up at 24Option and start your online trading journey today.
Overall Rating: 9/10