24option Review and Bonus Information for 2020

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24option Review

Binary options have become one of the preferred trading directions in the non-banking financial sector. When compared to Forex, they are easier to understand and require no actual purchase. Binary options walk a fine line between gambling and trading. To be able to stand a chance of winning on the market, one needs the full support of the broker. Besides your commitment, your broker can carve the success path for your trading career. 24option is one of the brokers that boosts your trading and gives you the necessary means for fair trading. This 24option review breaks down all the important information about 24option and their service.

  • Managed by experienced professional
  • Webinars, educational resources (for free)
  • Suitable trading platform
  • Efficient and multilingual customer support

Check 24option’s Latest Offer Here!

  • Demo account requires a deposit
  • Fees on withdrawals

Who is 24option?

24option joined the market officially in 2020 as a wing of Rodeler Limited. This broker company was established by a group of experts who dealt with Forex, securities, etc., laying down stable grounds for the broker company. 24option is regulated by the reputable CySEC and the Cyprus Investment Firm (CIF). These are the two powers behind the curtains that make sure that 24option stays loyal to its clients, offers the best service in their power, and stays in line with the law. This gives clients security to join the broker with no hesitation.

Trading Platform

TechFinancials is the running platform of 24option. This platform made quite a name in the binary options market and counts to the most reliable platforms. With a convenient interface, smooth performance, powerful software, and extra features, it is the favorite platform of many. Given that mobile trading is one of the essential parts of the business, 24option offers the 24option TechFinancials mobile apps for download. Use your smartphone device to make some money and download this app for free.

Types of Accounts with 24option

24options offer the “golden middle” with three accounts, besides the Demo account.

  • The standard trading account is for the so- called “middle traders” who have some experience, but are not at pro-level yet,offering all the features necessary for smooth trading.
  • The Gold account offers, in addition, an extra 2% return on every trade which is the reason many decide to register with this account.
  • The Platinum account offers various features and extras including touch options, high-yield boundary, latest market updates, as well as personal educational trainings.

24option take pride in their diversity of assets, with some of the most popular being: BMW stocks, Google stocks, silver, gold, etc. 24options offers also the Close Early option which allows traders to change their minds if they see that they are on a losing path. Simply, they can pull out of a trade before the expiry date and get a portion of their investment back. Expiry dates refer to the different timeframes and limits set on trades. Binary options distinguish between short and long-term expiry dates. Traders can enter trades as short as 30 seconds. Long-term trades refer to daily, weekly, and monthly offers. Even if some brokers offer annual expiry dates, this business rather relies on short-term trades. This broker is also known for a pretty high investment return rate,which can reach as high as 82%.

Deposits and Withdrawals

Besides wire transfer, can may deposit and withdraw via Visa, Master Card, PerfectMoney, Skrill, OKAYPAY, Discover, JCB, etc.

  • No fees are incurred on the first deposit and first withdrawal.
  • Bank transfers require a $30 fee.
  • A minimum of $100 is required to issue a withdrawal request (excluding Skrill, where there is no minimum).
  • The withdrawal usually takes 3-4 days, or up to 7 days if requested via bank transfer.

If you sign up with the Gold account you can withdraw funds free of charge on a monthly basis. This means that you can make a withdrawal request for free. If you should withdraw more than one time within the same month, a fee will be applied. Premium account users are better off regarding withdrawals. Namely, they are able to conveniently withdraw funds anytime without paying any fees or commissions. It is not that uncommon that binary options traders require a fee on withdrawals. In fact, if compared to Forex brokers who seldom charge a withdrawal fee, we could say that it is quite often the case.

24option Bonuses

From time to time there is a sign-up bonus provided as a part of a welcome. The bonus amount depends on the account type you sign up with. The bonus can range from a 30% to a 100% bonus. The minimum deposit with 24option is $250. Other promotions are also part of the 24option package, like holiday bonuses or additional deposit bonuses (only when the market is highly volatile).
In order to withdraw the bonus, traders must trade 30 times the amount of their initial investment.

Open Account with 24option Now!

Customer Support

The 24option customer support is available 24/7 via e-mail, live chat and phone including foreign countries. The multilingual customer support can be reached in 21 languages like French, German, Spanish, Italian, etc. Call the customer support and make your own decision about the staff efficiency with this broker.

24option Review

Introduction

Founded in 2008 the multi-award-winning binary options trading site from 24option is not only intuitive and easy to use but also geared towards both new traders as well as trading professionals. With 24/7 dealing provided on the reputable Tech Financials trading platform they are one of just a handful of highly respected and trusted brokers that put usability and accessibility at the forefront of what they do.

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!

This ease of access and their mobile-friendly platform makes the trading process accessible and straightforward. Operating across a growing list of countries in 22 languages the site lets you choose the language and currency you wish to trade in. Education is a priority with 24option, and their range of educational aides caters for everyone from the first time trader to the experienced and successful.

With customer support a priority at 24option there are many support options available from picking up the phone to a dedicated customer support advisor to starting an online chat on the move, their dedicated team are on hand to help with any questions or issues.

In this review, you will learn:

    What we think about their company practices The unique benefits and features of 24option Differences between the various accounts

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

You don’t have to choose a plan to get started with 24option. They state on their website that you can open an account and begin trading immediately. If you do want to start a plan, there are five on offer, plus an additional, somewhat discreet 24option demo account available on request. Highlights of these account options are below.

Basic Account

The Basic Account requires an initial deposit of $250, and the minimum trade is $24. Successful trades attract profits of up to 82%, but benefits are limited to the standard 24-hour customer service access and a professional chart.

Silver Account

The minimum amount needed to open a Silver Account is $2,000 although this account commands the same profits as the Basic Account. A Silver Account does, however, unlock a few more of 24option features including access to a personal coach and trading alerts.

Gold Account

The most popular account with traders, a 24option Gold Account sees the profits rise to up to 84% and the addition of more features which include SMS & e-mail alerts. There is also the opportunity to live trade with an expert. An initial deposit amount of $25,000 is required and a minimum trade of $48.

Platinum Account

If you are looking for more benefits and support and a higher profit, a Platinum Account will see a return of up to 86% on a successful trade alongside even more expertise to help you trade successfully. A minimum initial deposit of $50,000 is required, and the minimum trade amount is $120.

Diamond Account

With a minimum trade amount of $480 and the maximum trading return of up to 88%, the Diamond Account is the most rewarding of all plans at 24option. A higher exposure and higher trading limits make this the account to be enjoyed with the more professional traders. They even offer Diamond Account holders FREE Juventus tickets due to their affiliation and sponsorship of the club.

Trade Types And Payouts

With a maximum payout of up to 88% available to those with a Diamond account (82% for the lower end of the account scale) the trade types available are High/Low Options, One-Touch Options and Boundary Options, here are more details:

High/Low Options

One of the more popular types of binary options High/Low Options are also known as call/put options. All the trader needs to do is call whether that asset price will increase or decrease below the current level in a set amount of time.

One Touch Options

One-Touch Options are a simple way to trade and don’t take much time or effort. All the trader needs to do with a One Touch option is to choose whether the market will reach a target price within a designated amount of time.

Boundary Options

Boundary Options involves a simple prediction. The trader needs merely to predict “In” or “Out” which means whether you believe the market price will close within or outside the upper and lower costs by the expiry time.

24option’s mission is to make sure that their traders enjoy their experience.

Bonuses And Promotions

As well as offering periodic bonuses from time to time 24option have both technology bonuses and cash bonuses that are pretty much standard and provided consistently.

Technology Bonus 1. To qualify for an iPad, the account holder must deposit a minimum of $10,000 and reach a minimum trading volume of $50,000. Technology Bonus 2 is a MacBook and with a deposit of $20,000 needed and a min trading volume of $100k.

For those who don’t have that kind of money to trade with there is a $24 bonus for anyone who downloads the 24option mobile app and registers for an account.

Upon registration, cash bonus offers are made on a case by case basis, usually associated with the amount of cash deposited by the trader.

Mobile Trading

Trading is made easy with a 24option mobile optimised website and the mobile app which is available for both IOS (iPhone and iPad) and Android. In this fast-paced technological environment, users need something that is intuitive, simple, quick and easy to use and that allows for instant order execution with real-time data.

While the website offers everything the trader needs to know along with FAQ’s, the mobile app has more limited functionality however customer support is still paramount and user reviews state the app to be an easy to use platform with useful information and great support.

The trading app is available for a range of devices including iPhone, iPod Touch and iPad Air. As well as its ease of use the app is also available in 22 different languages allowing the user to switch to their native tongue. As well as English you can trade in Arabic and even simplified Chinese.

Deposits And Withdrawals

The minimum deposit with a 24option account is $250, and after making the deposit, trading can begin immediately. Deposits can be made via wire transfer although if using this method the minimum deposit amount is $1,000. Other methods accepted include credit and debit cards, Skrill, Mister Cash and many other online payment systems.

Before you can withdraw funds from a 24option account, you must ensure that all documentation and verification is up to date. The verification process requires photo ID such as passport or driver’s license, proof of residence (you must be resident in a country accepted by 24option ) and a verified payment method. To use a credit card, for example, you must send a picture of both sides of the card although you are asked only to display the last four digits. Withdrawals can be made to credit cards, wire transfer or other selected online payment systems.

Once your account is verified the withdrawal process is straight forward and requires the users to fill in the amount to be withdrawn. 24option aim to process all withdrawal requests within three days. There are some light complaints regarding withdrawal problems, but we believe these are mostly down to lack of ID and account verification.

There is a fee for making a withdrawal unless you are a Platinum or Diamond Account holder. The fees range from 2% – 3.5% depending on the method or a fixed fee of $30 for a wire transfer. Banks may make additional charges.

Special Features

As 24option values every trader and wants them to enjoy the success, they offer a FREE demo account giving entry-level traders the chance to familiarise themselves with the platform, experience a real experience and teaches them the necessary skills to continue.

Educating their traders is also crucial to 24option which is why you will find webinars for all traders regardless of experience and knowledge. Just visit their website and watch a basic, intermediate or advanced webinar. Other webinars are available, with dates published on their calendar.

Customer Support

Customer support is easily accessible, and in the first instant you can complete and submit a simple form with your questions, comments or concerns. Support is also available by e-mail, telephone or by starting a live chat with a customer service specialist on the site whether on a desktop or mobile device. Support contact is available 24 hours a day, seven days a week from many countries across the world and as usual, in multiple languages.

Here are the contact details for 24option:

Conclusion

Let’s finish up our 24option review here. 24option’s mission is to make sure that those traders that use their site enjoy the experience, experience success and stay! To achieve this, they provide plenty of education and support to all of their traders regardless of experience. They seem to value their traders and demonstrate this through their various educational tools and information. From our investigative research and test, we found no reason to believe they are a scam operation.

As an exceptionally well trusted and secure platform to trade on 24option is a popular choice with many traders from beginners to professional Diamond traders. They’re easy to use platform, mobile trading options and customer support make them an ideal choice for traders and makes them a serious contender in the binary options trading market.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is 24option legit, will they scam me?

24option has one of the most reputable names in the business and are a trustworthy and reliable broker. We carry out individual checks to ensure that we are happy.

Do they have a decent mobile or tablet app?

Technologically they have a good platform which ranges from the desktop website to their responsive mobile site. 24option also have an app and actively encourage traders to download the app by offering a $24 bonus.

What bonus do they offer new traders?

24option provides a welcome bonus of 100%. For a trader that reaches $10,000 in deposits and $50,000 in trades there is the reward of an iPad, if they double this, they will be rewarded with a Mac Book.

Can I start trading on a free demo account?

Like many of the top brokers, 24option offer a demo account to encourage their traders to get used to the platform. Just deposit your $250 deposit, then request a free demo account.

What’s the minimum deposit and trade amount?

The minimum deposit for a 24option account is $250 unless you are depositing funds via wire transfer, then the minimum deposit required is $1,000. Their minimum trade is $24.

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

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.

All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Our writers nor our editors receive direct compensation of any kind to publish information on TheTokenist.io. Our company, Tokenist Media, is community supported and may receive a small commission when you purchase products or services through links on our website. See more information here about how we make money.

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.

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 ).

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!

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