Forex Broker Reviews

24Option Broker Review

About The Company

24Option operates a market-making business model on spot Forex and CFDs. The broker is located in Limassol, Cyprus and regulated by Cysec. The company opened it’s doors to traders in 2010 and for several years has been in the forefront of binary options, they now offer trading on spot Forex and CFDs. The CFDs on their offerings list covers a wide range, starting from popular individual stocks to commodities such as metals, energies, and softs, as well as equity indices. They also offer a good and wide selection of Forex Currency pairs.

The company provides an intuitive trading platform designed with the latest technological advancements that are geared towards new traders and professionals. 24Option is well established amongst the online financial industry and they have collected multiple awards as the best binary options and Forex investment firm, regulated by the Cyprus Securities Exchange Commission (Cysec).

Why Traders Choose 24Option

Advanced trading platform

Adding to the popular MetaTrader 4 platform developed by Metaquotes, 24Option has developed their own dedicated trading platform in-house, it includes many interesting features which are not available in other trading platforms and that were previously unavailable on the company’s previous web-based platform. The new trading platform combines the existing binary options trading facility with the new ability to trade Forex, CFDs, and commodities as well.

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Quick and relaible deposits and withdrawals

Various account types with 24Option are assessed and upgraded for each client according to an account managers evaluation. Accounts offered include;

  • Basic – The 24Option basic account requires a minimum deposit of $250. This account type offers exotic currency pair spreads as low as seven pips, spreads in major pairs as low as three pips, spreads in minor pairs as low as four pips. The basic account comes with full access to MT4 and the company’s web client platform that allows one-click trading, as well as the mobile app for iOS and access to 24/7 customers service.
  • Silver – This type of account also offers all the features of a basic account, with the addition of alerts and a personal Trading coach. The minimum deposit for the silver account is $2000.
  • Gold – The Gold account includes all of the amenities listed above, in addition, it provides the trader with SMS and email alerts. The minimum deposit for the Gold account is $25 000. Gold account holders receive an extra 2% return on every trade they make.
  • Platinum – This account type includes all of the features above, in addition to access to a research website and a live trading session. The minimum deposit for a platinum account is $50 000. In addition, platinum account holders receive an extra 4% return on every trade they make.
  • Diamond – The diamond account includes all of the features listed in other accounts, plus it includes complimentary tickets to Juventus FC soccer matches in Europe and a customizable trading platform. The diamond account apparently does not have a specified minimum deposit and must be set up with an account manager.

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For a Live 24Option Forex account, the minimum deposit is $250, with a minimum transaction size of $24. To fund a 24Option live account, deposits can be made via credit card: the company accepts Visa, Mastercard and discover, through skrill electronic payments and through bank wire transfers. The company also accepts Ucash, Netteller, Qiwi, WebMoney, and paysafe but does not accept PayPal payments.

For first-time withdrawals to approve, clients must verify their account with a copy of a government-issued identification such as a passport or drivers license, proof of residence in the form of a utility bill and a copy of both sides of their credit card if that is where the withdrawal is being made to. This verification process needs to be repeated every time a new payment method is used.

24/7 Customer Support

Support is based on Cyprus – Clients can contact a 24Option representative by telephone during business hours and can use email anytime of the day. A live chat is also available through their website. Adding to their support, the company provides a wide range of educational materials, such as daily market news and updates, live webinars and interactive eBooks. 24Option also offer on-demand videos, with topics suitable for intermediate and advanced trading in CDFs, Forex and Binary Options.

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Summary

24Option is a well-established award-winning and regulated binary option, Forex, CFD and commodities broker. They have an extensive array of tradable assets and a unique, secure, state of the art trading platform. Customer support offered by the company has been translated into 22 languages with telephone support offered in 12 countries. That is really not bad for a Binary options broker.

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