24Option Review – Scam or Real Deal?
- Broker – 24 Option
- Website URL – 24Option.com
- Support Number – +44 203 693 8656
- Minimum 1st Deposit – $250
- Minimum Trade Amount – $24
- Payout – 88%
- Free Demo Account – Open Demo
- Overall Score 9.7/10
24Option.com is probably the most recognizable binary options broker in the world. Launched back in 2009, 24 Option quickly earned a name as one of the trusted brokers in the binary options industry. The broker is regulated by the Cyprus Securities Exchange Commission (CySEC). It is one of the best binary options brokers for European clients. However, since it is regulated by a European regulatory body, it cannot serve United States clients.
The broker has led the way in terms of championing for regulation of the binary options industry. Being regulated means that clients are guaranteed of a high level of protection and quality of service. 24 Option was among the first binary options brokers to apply for regulation. Since it is regulated by CySEC, 24 Option holds the so-called “EU Passport” for the provision of services within the EU according to the MiFID, which is the European Union directive for financial instruments.
24 Option offers a variety of assets for its clients to trade including currencies such as EUR/USD, GBP/USD, commodities such as silver, gold, and oil, indices such as NASDAQ, S&P500, and stocks such as Google, BMW, and others. The assets available to trade on 24 Option are quite encouraging and traders will never lack something to trade.
24Options offers 4 main types of trading contracts that include:
Classic Binaries – Classic binaries consist of above/below options and high/low options.
One Touch Binaries – One touch binaries consist of no-touch options, touch options, and high-yield touch options.
Boundary Binaries – Boundary binaries include the standard as well as high-yield boundary options.
Short-term Binaries – Short-term binaries are those options with short expiry periods that range from 30 seconds to 5 minutes.
24Options offers some of the highest returns in the industry with a maximum payout of 88%. However, the minimum trade size is $24.
Opening a trading account at 24 Option is quite simple. All you need to do is make the minimum deposit when signing up and choose between 4 different account types.
These are the most basic of accounts. They have no restrictions regarding the types of assets that can be traded. The maximum payout here is 82%.
The Silver accounts are similar to the Standard accounts with the main difference being that here you get to have a personal coach and trade alerts that are both absent in the Standard accounts.
Gold account holders enjoy all the benefits that Silver account holders enjoy with an additional 2% return on investments and SMS and Email alerts.
Platinum account holders enjoy maximum payouts of 86%, all the benefits that Gold account holders enjoy, and free unlimited withdrawals each month, access to a research website, option to trade CFDs, and a chance to request a live trading session with your account manager.
Diamond account holders enjoy maximum payouts of 88%, all the benefits enjoyed by Platinum account holders, chance to receive Juventus tickets, the ability to customize the platform, and higher exposure and trading limits.
In addition, 24 Option provides a free demo account but you first need to make a deposit before being able to access it. 24 Option even has a special Islamic Trading Account for the people that would like to trade binary options according to the rules of Islam.
24 Option offers excellent customer support that is available in 17 different languages. You can access the client support team through email, phone, and live chat. If you are an International trader, 24 Option has availed a long list of toll-free numbers that you can use to reach the customer support team.
Deposits & Withdrawals
It is very easy to comprehend the deposit interface of 24 Option. It is very simple to use and anyone that has never traded before can use it. In addition, it is quite safe and fast. You can make your deposit in various currencies including JPY, EUR, USD, and GBP. With the prevalence of fraud in the world of today, safety is critical.
The minimum deposit amount is 250 (EUR, GBP, or USD) or approximately 25000 JPY. You can make your deposit using various methods including credit card, bank wire transfer, or even e-wallets such as Skrill and Neteller. The simple process of depositing funds that 24 Option provides makes doing it more enjoyable.
24Options usually makes withdrawals using the same method used for depositing. However, before withdrawals are processed, you must have sent a copy of documents verifying your identity and address. Still, 24 Option is one of the best when it comes to processing of withdrawals.
24 Option has developed a downloadable mobile app for both Android and iOS users. The app has all the features available in the desktop version thus making it possible to make trades and follow them while on the move. Having the chance to react fast to any sudden changes in the market have earned 24 Option positive reviews across the industry. The mobile app has helped 24 Option solidify its status as a leader in the binary options industry.
- Availability of short term (30 second) options
- Regulated broker
- Excellent returns
- Excellent deposit bonus
- Huge maximum investment
- The $24 minimum trade size is less than ideal especially for beginner traders
- It does not accept traders from the United States
24 Option has been a leader in the binary options industry since it was established back in 2009. Its reputation is clear and all traders understand that it offers professional service and secure trading. The fact that 24 Option is regulated by the CySEC as well as MiFID is yet another sign of its transparency.
24 Option is an easy-to-use platform for binary options traders and provides excellent returns for traders. The 24-hour client support is great for traders that may have any issues. All these factors make 24 Option one of the best binary options broker in the industry. It is highly recommended as a broker that will give you an opportunity to have the best experience while trading binary options.