24option Review 2020

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24Option Review

The prices might not be the best, but this is a fantastic broker if you’re looking for excellent education and a good demo account to practice with.

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24Option – Reviews & Ratings

FAST FACTS:
• Demo Account: Yes
• Account Minimum: $250
• Regulation: CySEC (Cyprus)
• Best For: Traders looking for good education
• Asset Coverage: CDFs, Forex, Crypto, Commodities, Spreads, Stocks

Investor Warning: Trading in Forex/CFD carry a high level of risk to your capital due to the volatility of the underlying market. These products may not be suitable for all investors. Therefore, you should ensure that you understand the risks and seek advice from an independent and suitably licensed financial advisor.

24Option is a forex broker, founded in 2020 and owned by a company from Cyprus called Rodeler Limited. A company from Cyprus might seem suspicious but many brokerages who deal in binary options are based there because of regulatory benefits.

In the world of binary options, 24Option was the second biggest player, outsized only by Banc de Binary, an Israeli company that was shut down due to fraud charges. 24Option has changed in the last couple of years, as it no longer offers binary options to its clients.

Recently, 24Option has added more investment types to its repertoire, and the customer service has also been expanded in order to better manage big investment portfolios and provide better technical support. The company is currently focused on Forex trades (including cryptocurrency forex pairs) and CFD trades.

Their website offers little information about the company compared to the sites of other notable forex brokerages. This lack of transparency, paired with the fact that 24Option is based in Cyprus makes the company look untrustworthy, however, that doesn’t seem to be the case. The Cyprus Securities and Exchange Commission regulates 24Options.

24Option is not available in Canada, Israel, Iraq, Belgium, Bosnia And Herzegovina, Australia, U.S.A, Virgin Island, Puerto Rico, American Samoa, Algeria , Ecuador, Iran, Myanmar, North Korea, China, Panama, Uganda, Ukraine, New Zealand, and Japan.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

Overview and Summary

  1. 24Option no longer offers binary options. They are currently focused on forex and CFD trading.
  2. The fraud accusations against the company are unfounded. Although, their users did lose money because of the company’s inability to properly disclose important information about their regulations.
  3. There are four account types.
  4. The educational resources are excellent. 24Option offers webinars, video lessons, and written articles to users. Some of these are free and available to non-users.
  5. The trading platforms are not exceptional.
  6. Trading prices are higher than average, but getting an advanced account can lower them dramatically.

Fraud Accusations – Is 24Option a Scam?

Unclear Regulations – How Users Lost Money

In the past, the company used to incentivize its users by offering them the so-called “24Option Bonus”. This means that clients practically got free money for trading, which would later incur commission fees.

Here’s the catch: users who accepted the bonus had to meet certain requirements in order to access the money they earned afterward. They had to upload personal documents to prove their identity and meet the wagering requirements.

The users who accepted the bonus and didn’t meet these requirements lost their earnings. Technically, this is not the company’s fault but this information is not in plain sight on their website or platform. Many users had no idea about these requirements because they weren’t properly warned by 24Option.

All the requirements and legalities concerning the current bonus scheme are thoroughly explained in the Trading Bonus Scheme on their site’s legal section. However, this is a legal document that uses complicated language, and clients shouldn’t be expected to go through all the details just to find an essential piece of information.

Fortunately, many clients got help from the customer service representatives, and eventually got their money back. Users also lost money simply through trading binary options, which are extremely risky if you don’t know exactly what you are doing. Even though 24Option may not be a scam, the company failed to make this crucial information apparent to users, who were left damaged by their relationship with 24Option.

The world of binary options has seen many instances of fraud and thievery, like the scandal involving the aforementioned Banc de Binary. Therefore, it is not unwise to tread carefully when looking for a good online forex broker.

Accounts and Pricing

Four Account Types

24Option offers users four different account types with account minimums ranging from $250 in the low end to $50,000 in the high end. The general offer and fees are better for higher-tier account types. Therefore, some are more suited for high-volume trading, while others are good for getting your feet wet in the forex market.

Basic

The best choice for new traders, as well a s those who want to try out 24Option is probably the Basic account. The minimum required balance is $250 and you get access to some educational materials.

Basic users get one free lesson but they do not have access to webinars. Basic account users also get a very good demo account with $100,000 to try the platform out (demo accounts are available with all account types). This account type also includes daily news and one free withdrawal.

The price of trading is better with the Gold account than with the Basic. Users also get two basic lessons and one monthly webinar. The minimum deposit is $5,000, and users can make one free monthly withdrawal.

Platinum

The Platinum option requires a $10,000 deposit and offers all the same perks as the previous account types, with slight improvements. The pricing is better, and users get three advanced lessons and two monthly webinars. Clients can also make three free monthly withdrawals from their Platinum accounts.

The best and most expensive option is the VIP account, which requires a $50,000 deposit. The VIP account has the best pricing by far and offers five advanced lessons as well as five monthly webinars. Users can withdraw unlimited amounts from their VIP account without fees.

The more you deposit, the more you get. More expensive accounts offer better prices and more valuable educational resources. All account types give users access to daily news as well as Trading Central – a great tool for advanced market analysis.

Accounts Basic Gold Platinum VIP
Minimum Balance $250 $5,000 $10,000 $50,000
EUR/USD 2.5 PIPS 2 PIPS 1.6 PIPS 1.1 PIPS
GBP/USD 2.8 PIPS 2.5 PIPS 1.9 PIPS 1.4 PIPS
USD/JPY 2.8 PIPS 2.5 PIPS 1.9 PIPS 1.4 PIPS
Crude Oil $0.13 $0.12 $0.11 $0.09

What 24Option is Great At

Education

24Option has a well-rounded offer of high-quality educational resources. Their website has articles on topics like daily market analysis and technical analysis, which can be viewed for free. You can find everything you want to know about their trading platform from the website.

There are free webinars as well as those you can only get as a member of 24Option. Members also get access to some excellent video lessons. These lessons explain both basic and advanced concepts like basics of CFD trading, calculating pips, managing risk, different kinds of analyses, etc.

There is also content focused solely on forex trading for beginners, that includes a glossary. All in all, 24Option has outstanding educational resources, valuable for newbies, as well as intermediate traders.

Customer Service

Users, as well as potential users, can reach 24Option via phone, email, and live chat. The company’s customer service seems to be very responsive and ready to help, however, they are not available during the weekends.

The customer support representatives can be reached 24 hours a day from Monday through Friday, but the live chat only works during work hours. In general, the customer service is competent and very ready to help users.

When I tried the live chat, a representative responded in about 30 seconds and answered my questions immediately. The speed and competence of the customer service representatives is truly praiseworthy.

However, the live chat doesn’t seem to work on Mozilla but it works on Chrome.

Range of offerings

24Options has changed a lot in the past couple of years, as they stopped offering binary options, which were once their focus. Now, the company offers a broad spectrum of cryptocurrency pairs like BTC/GBP, BTC/EUR, BTC/USD, etc.

However, there are not as many available currency pairs as you might find with other forex brokers, and other products like oil and gold have the average price. Whether it’s commodities, currencies or spreads, 24Option keeps up with the competition.

Where 24Options Can Improve

Average Trading Platform

The company offers two desktop platforms as well as a mobile one. The available research tools are good but not extraordinary. The same goes for all aspects of 24Option’s trading platform.

Desktop Platform

24Options has a good, intuitive platform. Users can place trades and make watchlists with ease. The platform has great charting tools and its interface is very customizable. Users can also see the positions of other traders.

By seeing the positions of their fellow traders, users can predict the general tendency of the market at the given moment, and place prudent conditional orders. The company also offers users the MetaTrader 4 software, which is very common in the industry, although, the company’s desktop platform seems to be better.

Mobile Platform

The mobile app is good enough but it doesn’t stand out among the competition. The software is optimized for Android and iOS, the latter of which has fingerprint authentication. The mobile version has just about the same functionality as its desktop counterpart.

Many of the features like charting and streaming quotes are very accessible, and adding data like moving averages to your charts is simple and quick. Users can maintain a good level of control over their positions on the mobile app.

There is no daily news on the mobile app, and it’s also lacking in alerts compared to other mobile platforms. All in all, it is a good, user-friendly app with some very good features, but it pales in comparison with the top-tier trading apps.

Prices are Higher Than Average

24Option doesn’t have the lowest fees. Actually, they are higher than average. Getting a premium account can dramatically decrease the cost of trading in higher volumes, but aside from that, there are no discounts for high-volume trading. The fees for inactive accounts are also pretty high.

If an account is inactive for six months, it can be charged up to $200 per month. Account maintenance costs $10 a month, and the withdrawal fee is 3.5%. However, users get a number of free withdrawals each month, depending on what account type they have. The VIP account has an unlimited number of free withdrawals.

Even though you can find better prices on other platforms, 24Option has no financing or commission fees. The minimum required deposit for the Basic account is $250, which is quite reasonable.

PROS CONS
Great educational resources. The prices are higher than average.
Multiple account types. The company is regulated in Cyprus.
A wide range of investment products. No high-volume discounts for basic accounts.
Reliable customer service. Average trading platform and research tools.

Conclusion – Who is 24Option Best For?

As far as pricing is concerned, you can find superior offers among the best forex brokers in the industry. The lack of transparency is also a bit concerning, even though there haven’t been any major problems regarding the trustworthiness of 24Option.

Since 24Option has a relatively low minimum deposit for their Basic account and fantastic educational resources, it is a great platform for learning to trade. The customer support is reliable and the demo accounts are top-notch.

About Author

Tim Fries Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim is also the co-founder of Protective Technologies Capital ( protechcap . com ).

24option Review 2020

24option is probably one of the most famous brokers in the world and one of the very few companies from the trading industry to expand its area of influence beyond the trading business. The company was launched in Cyprus in 2020, but it quickly became known around the world for its great service and high quality. With our professionals’ help, in this 24option review we will show you exactly what to expect from this company in the following year. All the most important features will be thoroughly discussed and presented, so you’ll know exactly why this broker is held in such high esteem by so many traders. Keep reading!

24option Review | Trading Platform

Our regular readers will know that we declared this broker winner of our Best Binary Broker award three years ago in the Best Value category. One of the most important reasons for that and the first thing we want to cover in our 24option review is its excellent trading platform which offers a multitude of business opportunities to all kinds of traders. There are more than 200 different underlying assets like stocks, commodities, currencies and indices for you to choose from and four different trading modes. Each of the trading modes has at least two different subcategories which expands your trading experience significantly.

More knowledgeable traders will recognize this as one of the main features of all TechFinancials-based platforms and this one is no exception. You can therefore expect a superb trading experience because this software provider is one of the best in the world. 24option has shown no signs of making any changes to their platform in the near future and we honestly agree with them. Why would you change something that functions perfectly? With that, we can move on to other interesting things this broker has to offer, so stay with us and continue reading our 24option review.

24option.com Trading Platform

24option Review | CFD Trading

But apart from the usual binary options trading, 24option also allows you to trade CFDs (Contracts for difference). This type of trading has recently become very popular in the trading community and the broker was quick to react. For this, they have even introduced a new platform to the website, namely MetaTrader 4, which is widely regarded as one of the best trading platforms in the industry. Traders all around the world love it because it provides you with loads of tools and data you can use. CFD trading doesn’t require you to set an expiration date to your trade and you can close it whenever you want. If you guess the direction correctly, your profit will depend on how much the price has moved in that direction – the bigger the move, the more you win. So if you want a break from the standard binary options trading, 24option can provide you with that, too. Don’t go away yet, though, because our 24option review still has a lot to show you.

24option Review | Account Types

After making an initial deposit ($100 is the minimum amount) using one of the various available methods (cards, bank transfer, Neteller, Skrill – you name it), you’ll be able to choose your 24option Account Type. Here, too, the broker has taken all types of traders into consideration, as witnessed by the five main account types available in total. They all offer pretty high payouts of up to 88% per successful trades, but if your investment is unsuccessful you will lose your invested capital on this trade. They will also allow you to withdraw your money, upon fully account verification, completely free of all charges once every month. You will also get a very helpful chart with any of them (a tool designed to help you track the market’s movements without any trouble) and basic access to the broker’s Trading Central. All account types, except Basic, also offer a personal account manager to help you on any query you might have. There is even a special Islamic Trading Account for those who want to trade in complete accordance with the rules of Islam, so even those traders are well covered.

24option.com Account Types

Again, we don’t expect things to change much here either, so you can rest assured you’ll always have plenty of possibilities with 24option. Explore these accounts thoroughly, though, because they offer much more than we mention here. Things discussed in this 24option review are only the beginning.

24option Review | Support and Education

Some things, however, are constantly changing in this broker’s offer; or rather they are being improved and upgraded on regular basis, so we absolutely must mention them in this 24option review. They mostly have to do with 24option Customer Support and educational materials available on the broker’s website. The company is always trying to make the interface more intuitive in order to help you get more useful information. The support team is very well educated and coordinated, so you can count on quick solutions to all your problems. Live chat is also available on the website and you can even download a very handy 24option App which will help you manage your trades even when you’re not near your computer. But no matter if you’re a trading novice or a seasoned veteran, you can always learn a lot here. There are many videos which will explain everything in simple and understandable terms, and you can even sign up for a webinar to gain some knowledge there. An eBook is also available, so you’re pretty much covered on all fronts and you can expect even more content here in the following year. But there is one more thing we must discuss in this 24option review, so stay with us just a bit more.

24option.com Education Center

24option Review | Partnerships

No 24option review would be complete without mentioning the fact that this company’s quality and influence have been recognized by many individuals and organizations which are not directly involved in binary options trading. Football giants Juventus FC have entered a partnership agreement with this broker, thus confirming the quality and excellent reputation 24option has in the business world. However, they are not the only ones to do so – Boris Becker, a three-time Wimbledon champion, is also one of the broker’s partners. So don’t be surprised if the list of 24option partners expands in 2020, since it is quite obvious that this company has become known as a world-class brokerage among influential organizations and individuals alike. We hope this 24option review has shown why.

24option Review | Conclusion

24option is, without the slightest doubt, a world-class broker, and you can be absolutely sure you will not find a more reliable partner anywhere else. Great and versatile trading platform, numerous and well equipped account types, competent staff, educational videos and a useful mobile app are just some of the reasons why this brokerage is so successful and popular. There are many more great features to discuss, but we simply didn’t have enough space or time here to analyze them all. Explore the website for yourself and you will find loads of very pleasant surprises. Don’t forget that this broker has also been recognized outside of this industry as a desirable partner and that really says a lot. No other company from the binary options business can say that it has this much contacts with subjects who are not connected to the trading industry. So if you’re looking for a great broker, open an account with 24option. You won’t find a better partner on the market.

24option Broker Review 2020

24option

Platforms

Tradable Assets

Spreads

Customer Support

Credibility

  • Wide range of instruments including cryptocurrencies
  • Tight spreads
  • Regulated by the IFSC and CySEC
  • Well-established brand
  • US traders not accepted
  • Demo account valid for 1 week only

Easily sign-up with 24option for free via the form below!

Introduction or Skip Content and Read the Bottom Line!

24option is one of the most reputable brokerages in the market and now they have diversified their online trading services by offering a suite of platforms.

It’s interesting that a well-known and established brand has entered the competitive world of FX and CFD trading.

So how do they compare to other forex brokerages?

Should you sign-up with 24option or would it be better to consider other brands instead?

Continue reading this unbiased and updated review to know the answers.

24option Overview
Founded 2020
Platform Scipio, MetaTrader 4, MT4 Mobile Apps
Minimum account size $100
Minimum lot size 0.01
Tradable assets 340+
Maximum margin 1:400 (for professional clients) / 1:30 (for retail clients)
Spread on EUR/USD 0.9 pips
Payment methods Credit Cards, OKPAY, Neteller, Skrill, Perfect Money, Wire Transfer, Alternative Payment Methods
Demo account 1 week with $100,000 virtual funds
Accepts US traders No
Regulated IFSC (Belize), CySEC (Cyprus)
Support Email, Phone, Live Chat
Website www.24option.com

CFD Service. 83.29% of retail clients lose money.

Registration 10/10

The initial part of the registration at 24option won’t take too much of your time nor would it need plenty of information from you.

The registration form on their website is very basic and only requires the following personal details:

  • Full name
  • Email address
  • Phone number

Once you have accomplished this form and clicked on Submit, you’ll get pop-up welcome message and will be asked to answer a short questionnaire.

This part of the registration is mandatory and imposed by local regulators so be sure to answer them correctly since the assessment would determine if your experience and profile is suitable for trading on their platform.

This is no technical exam that will require you to be an expert or experienced user. They will only provide you with several basic questions which you can finish in as fast as 5 minutes.

And once you’ve completed the questionnaire, there’s no need to wait further because you will instantly be informed if your account has been approved or not.

24option registration page

CFD Service. 83.29% of retail clients lose money.

CFD Service. 83.29% of retail clients lose money.

Account Types 10/10

Your initial deposit would determine the account type that you will be subscribed to and this could be any of the following:

  • Basic – $250 minimum deposit
  • Gold – $5,000 minimum deposit
  • Platinum – $10,000 minimum deposit
  • VIP – $50,000 minimum deposit

Each account has its own perks and of course, the higher the account type, the better the perks you’d get to enjoy.

Let’s look at it in detail:

Among the benefits that you would be able to avail may include floating spreads, education center features such as basic and advanced lessons, webinars, daily news, alerts from Trading Central, 100% margin call and free withdrawals.

24option account types

CFD Service. 83.29% of retail clients lose money.

Demo Account 8/10

If this will be your first time to use 24option’s platform or you have no trading experience at all, then the demo account is definitely useful tool that you can utilize.

How can you actually use this?

This is basically the same as the Live trading platform with live market conditions and the only difference is that you will be able to use it in virtual or practice mode.

In this way, you can explore the user interface, do test trades and apply various strategies to see which one works best for you without using the real funds on your account.

Via the demo mode, you will be utilizing the $100,000 virtual funds which we believe is more than enough for you to use to fully maximize this feature.

But there’s one small catch…

The demo account will only be valid for 1 week only so make sure that you take advantage of it before it expires.

You can get in touch with your account manager and request to add more funds in your virtual account or extend the validity of your demo account. This however is subject to their approval.

24option demo account

CFD Service. 83.29% of retail clients lose money.

How to access the 24option demo account?

Right after you have completed the registration process and the assessment, you will be redirected to the main trading platform page.

From there, locate the top section where your account number is displayed and the text “Live”. Place your mouse pointer on these details in order to reveal the dropdown menu and click on “Demo” to trigger the demo account.

How to access 24option’s demo account

CFD Service. 83.29% of retail clients lose money.

Payment Methods 10/10

There are plenty of options for you to choose from in adding funds into your 24option account. In fact, there’s a high chance that you’ll have one of these payment methods.

The banking methods that they accept are among the most secured and the most known in the market.

As of press time, here are the banking methods that 24option supports:

  • Credit cards
  • OKPAY
  • Neteller
  • Skrill
  • Perfect Money
  • Wire Transfer
  • Alternative payment methods

So what’s the big deal?

Having a lot of options to fund your 24option trading account gives makes it easier and hassle-free since there are more ways to make a deposit.

24option deposit page

CFD Service. 83.29% of retail clients lose money.

This will give you a lot of convenience in transferring funds into your account and such convenience merits a perfect score.

Minimum Deposit 8/10

You can open a live trading account with a minimum initial deposit of $100.

This amount is just a little higher than the requirement of most of brokerages today.

The thing is, majority of brokerages today require much higher initial deposits from their clients in order for them to trade.

So in comparison…

24option’s minimum deposit requirement is reasonable. And in fact, this amount is just right enough especially if you’re a beginner so you can have ample funds to invest on several instruments.

Want to register now with Plus500? You can click on the button below and we’ll take you straight to the sign-up page:

CFD Service. 83.29% of retail clients lose money.

Platforms 9.2

24option will provide you with a choice advanced platforms: one that they have developed in-house and one of the most popular forex trading applications out there.

Currently, the following platforms are your options:

  • Scipio – A proprietary web-based platform which they have enhanced with more features.
  • MetaTrader4 – They added this standard platform for the convenience of users who are used this popular software.
  • MT4 apps – These can be installed on mobile devices running on Apple’s iOS and Google’s Android.

We have tested all of the platforms listed above and we find them all very convenient to use.

They are bug-free and are not highly resource-intensive so they operate very smoothly.

Design 10/10

The downloadable MetaTrader 4 client only offers the basic platform design which is why brokerages like 24option won’t be able to incorporate any additional visual elements on this trading software.

Here’s what 24option’s MetaTrader 4 platform looks like:

24option MetaTrader 4 platform

CFD Service. 83.29% of retail clients lose money.

Nevertheless, they managed to keep the interface free from clutter and as simple as it can be.

On the other hand:

The feature of their Scipio platform design over their competition is that they have made it quick and easy for CFD/Forex trading without the need to open and close any windows on your computer.

You can simply click on the links at the top the interface to open the platform and begin trading as you wish.

Here’s what the Scipio platform looks like:

24option Scipio platform

CFD Service. 83.29% of retail clients lose money.

Its mobile version is not very far from its design so switching from the web-based version to the mobile app and vice-versa won’t cause you any confusion.

Here’s a screenshot of their Android app:

24option Android app

CFD Service. 83.29% of retail clients lose money.

Tradable Assets 8.9/10

24option’s platforms have more than 340 underlying assets which are composed of commodities, stocks, indices, forex, ETFs and even cryptocurrencies.

CFD Service. 83.29% of retail clients lose money.

Here are the current instruments that you can invest on:

Forex

You’ll find a selection of around 30 currency pairs including majors, minors and exotics. Among the forex pairs you can invest include EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USED, NZD/USD, EUR/GBP, EUR/GBP, EUR/CHF, EUR/JPY, AUD/CHF, AUD/CAD and more.

Commodities

Plenty of commodities are available such as precious metals (gold, silver, aluminum, zinc, nickel, copper and palladium), soft commodities (coffee, cocoa, corn, orange, rice, soybean and wheat) and energies (crude oil and natural gas).

Indices

You can choose from a list of popular equity indices like TA35, TADAWUL, OMXS30, NIKKEI, DAX, FTSE, NASDAQ, SP500, ICE USD, ASX, JSE and MIB.

Shares

Here’s the kicker:

There are around 200 stocks to choose from on the platform so you practically have a lot of options. Coca-Cola, Apple, eBay, Disney, Facebook IBM, Alibaba, Amazon and Netflix are just among the popular companies you can trade on.

Cryptocurrencies

This new asset class is also available on 24option’s platform. You can invest on the most popular digital coins like Bitcoin, Bitcoin Gold, Litecoin, Dashcoin, Ripple, Ethereum, Ethereum Classic and Monero.

24option is among the very few brokers in the market today that allows CFD cryptocurrency trading for both full size and mini contracts and the coins can be traded not only against the USD currency but also against EUR and GBP.

A word of caution:

When you’re trading cryptocurrencies via CFDs, please remember that this is not the same as buying/selling cryptocurrencies from an exchange.

Trading on the most popular Exchange Traded Funds (ETFs) is possible via this CFD service and the great thing is that you’ll have around 30 choices such as UCO, USO, XLF, XLY, XLK, ACWI, DBC, EWT, FAS, LIT and MDY.

Such variety gives you the chance to expand your investment journey by having a flexible and diversified range of underlying assets which is why they deserve an above-average score.

Minimum Lot Size 10/10

We can’t emphasize enough:

The size of your lot will directly influence your risk management and the smaller the lot, the better you can control your risk.

Most retail brokerages allow their clients to trade with micro lots which means a Buy or Sell order will be placed for 1,000 units.

The fact of the matter is…

Micro lots are the smallest tradable lot size that are usually allowed by most brokers and the good news is that this brokerage offers the same size for specific account types.

Like most brokers, 24option also allow trading with micro lots for as low as 0.01 giving traders the opportunity to invest with lower risks.

Spreads 9.8/10

24option offers floating spreads and the higher the account type, the tighter the spread you get to enjoy.

For a new entrant in the forex and CFD trading industry, their spreads are very competitive even for the hottest currency pairs in the market like EUR/USD which can reach as low as 0.9 pips for VIP account holders.

Basic, Gold and Platinum accounts have EUR/USD spreads of 2.5 pips, 2 pips and 1.6 pips, respectively.

We’ve matched these numbers with other brokerages and generally, 24option’s spreads are competitive and compare fairly well with their competitors.

CFD Service. 83.29% of retail clients lose money.

Quotes Accuracy 10/10

If your broker is not capable of providing you accurate and real-time quotes then you won’t be able to make a profit regardless of how skilled or experienced you are.

In order to see the accuracy of the prices shown on 24option’s platforms, we’ve monitored them for over a week and compared them with the actual market prices from reliable quote providers.

24option quotes accuracy

CFD Service. 83.29% of retail clients lose money.

Several tests were done to check the accuracy of the prices that are shown on 24option’s platforms and the good news is that there were no discrepancies encountered and trades were also executed without any delays.

Withdrawal Time 10/10

For security purposes, you need to verify your account before you can make a withdrawal request.

Here’s how it goes:

Simply submit them your proof of ID, proof of residence, complete assessment of appropriateness and verification of the payment method that you used to accomplish this.

And once the account has been verified, you will be able to withdraw your funds and if the request will be processed without any undue delay.

Generally, the processing time is impressively fast.

Customer Support 9/10

Customer service is one of the key aspects that can help you judge the reliability and trustworthiness of a broker.

How fast and professional they are in attending to your needs and queries will definitely show how they treat their customers.

So let’s get down to it

24option offers customer support via phone, email and live chat and their availability is 24 hours a day, 5 days a week so there’s always someone to talk to whenever you need help.

They are not available on weekends but we consider this as a minor downside since the action happens on weekdays when markets are open.

24option customer support

CFD Service. 83.29% of retail clients lose money.

In order to fully determine the quality of their customer service, we’ve done a thorough test by contacting them via all modes of communication and asking the several questions.

So how did it turn out?

Getting in touch with 24option’s customer service department was never a problem.

Via phone, we were able to talk to one of their agents in less than a minute and all of our questions and concerns were answered in a timely manner.

The same goes for the email support although the response time was around 30 minutes which is still faster compared to other brokerages which would take more than day to answer a very basic question.

We found the live chat support to be a very convenient way to contact them. This feature is readily accessible on their website regardless if you’re logged-in or not. All you have to do is provide your name and email address and start the conversation.

24option live chat

CFD Service. 83.29% of retail clients lose money.

So it all adds up to this:

24option’s customer service is superb! They know how to handle almost any kind of customer query, issue or concern and they deliver it with ease and through multiple channels.

The ease of getting immediate customer service is the reason why we’re giving them a very satisfactory score.

CFD Service. 83.29% of retail clients lose money.

Credibility 9.2/10

24option is among the biggest brands in the online trading market so if you’re concerned about their credibility then this is definitely not an issue because they have been operating since 2020.

But other than that…

Recent reviews and comments show that their CFDs/Forex services have been well-received by traders.

There were plenty of positive comments from their satisfied clients that can be found on various forex and trading forums, online communities and even on social media.

So what does all this mean?

This strongly indicates that 24option was able to sustain their good credibility.

Regulation and License 9/9

24option is a brand name shared between two group companies, Rodeler Limited and Richfield Capital Limited.

Rodeler Limited is authorised and regulated by the Cyprus Securities and Exchange Commission while Richfield Capital Limited is regulated by the International Financial Services Commission.

Rodeler Limited offers services within the European Economic Area (excluding Belgium) and Switzerland while Richfield Capital Limited offers its services to all countries that are outside the European Economic area and Switzerland, the USA the British Columbia, Canada and some other regions.

Conclusion 9.2/10

24option is a great addition to the competitive foreign exchange market with their full-feature platforms and client benefits.

What sets them apart from the rest is that they have good reputation, excellent support and other trading benefits that you won’t just find from any other broker.

They have flexible trading conditions that are suitable not just for experienced and skilled traders but also for those who are just starting to explore opportunities in the financial markets.

The professional 24/5 support is unquestionable and reliable in the event that you need assistance or help with your online trading account.

24option has all the necessary features and perks that traders are looking for in a broker. It is easy to see why they are a well-established brand and a popular choice among forex and CFD traders.

CFD Service. 83.29% of retail clients lose money.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
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    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

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