24option Review 24option.com, based in Cyprus, is a provider of a platform that helps to trade in binary options. The binary options broker started their operations in 2010 and is…Read Full Review
24option.com, based in Cyprus, is a provider of a platform that helps to trade in binary options. The binary options broker started their operations in 2010 and is owned and operated by Rodeler Limited, a financial services company. Rodeler is also located in Limassol, Cyprus, and is authorized as well as regulated by the Cyprus Securities Exchange Commission. 24option does not entertain US investors. This 24option review provides key details about the binary broker so that binary traders can make an informed decision.
- Min.Deposit : $250
- Regulated By CySEC , FCA UK, BAFin, Consob
- Deposit Options: Credit/Debit Cards, Bank Wire, Skrill (MoneyBookers), CashU, Neteller, Sofort, Neosurf, Webmoney, etc.
- Payouts : Up To 89%
The binary trading platform offered by 24option is one that is designed by TechFinancials. The platform is not only easy to use, but also easy to navigate. In addition, the binary options trading platform provider offers a mobile app so that traders can carry out binary trades on the go. Traders can access their account, view charts/news, open new trades, and make use of financial tools with the help of their tablet, smartphone, or mobile phone. Additionally, the platform is made available in multiple languages by the broker.
The different types of trades available on the 24option platform cater to the needs of both new and experienced traders. They are as follows:
- High/Low; Above/Below
- One Touch – Touch/No Touch and High Yield Touch
- Boundary and High Yield Boundary
- Short Term – 30 and 60 seconds; 2 and 5 minutes
The Boundary contract is a unique kind of binary options trade. This is because traders can select a higher and lower level with reference to the chosen underlying asset’s Strike Price. Then traders have to just predict whether the asset’s price will be within or outside the chosen range at the end of the expiration period.
When it comes to payout, 24option offers a fixed amount as return for successful or in-the-money option expiries. Traders can earn as much as 89 percent of the investment amount as profits if their prediction turns out to be correct. The returns from High Yield Boundary and Touch option contracts are often much higher than this.
Option for Risk Management
In order to help traders to reduce losses and manage risk, 24option allows them to close an option prior to the completion of the contract expiration time. However, this is possible only in the case of some options.
24option offers five different types of accounts. They are ‘Standard’, ‘Silver’ and ‘Gold’ for beginners and ‘Platinum’ and ‘Diamond’ for experts with returns on investment of up to 83 percent for ‘Standard’ and ‘Silver,’ up to 85 percent for ‘Gold’, up to 87 percent for ‘Platinum’ and up to 89 percent for ‘Diamond’ account holders.
In addition, 24option offers Islamic accounts that enable 100 percent ‘halal’ trading. These accounts are free from any kind of usury and there is no fee or interest involved.
Traders can open an account for free, but they need to deposit at least $250 to start trading. The minimum deposits for various account types are as follows:
Standard – $250
Silver – $2000
Gold – $25000
Platinum – $50000
Diamond – Trader should check with the account manager
24option allows traders to choose the currency in which they want to deposit funds into their trading account, whether in USD, Yen, Euro, GBP or RUB. Once the currency is chosen, it cannot be changed.
Funds can be deposited through credit cards (Visa, MasterCard, Maestro International, CartaSi, Carte Bleue, Dankort, Laser and Discover), MoneyBookers or wire transfer. Traders using the wire transfer option will have to deposit at least $1000. 24option accepts deposits from personal accounts only.
Minimum and Maximum Investment
The minimum investment amount stipulated by the broker is $24 per option. The maximum amount traders are allowed invest in one High/Low option is $50,000, while it is $10,000 in the case of other trade types.
24option does not prescribe any limit on the number of options that can be purchases, but the aggregate value of open options cannot exceed $75,000.
On 24option platform, the minimum withdrawal amount specified is $10. If it is by wire, then the minimum withdrawal amount is USD 100. All withdrawals are sourced to methods employed for depositing the funds. If the withdrawal request is more than the amount deposited by way of credit card, the difference is transferred through wire transfer.
For Standard and Silver account holders, first withdrawal in a month is free. For Gold account holders, one withdrawal per month is free. Platinum and Diamond account holders enjoy unlimited free withdrawals.
24option charges a fee on withdrawals as follows:
Credit card and Neteller: 3.5%
Wire transfer: USD 30
Traders are provided with access to assets from the world markets, which include 30 currency pairs, 43 stocks, 11 commodities and 19 indices.
When it comes to customer support, 24option is one of the best binary options brokers in the market. They offer customer support in several languages in order to help traders from many countries around the world to trade binary options and realize their financial goals. Additionally, the binary options broker offers several different channels of communication so that traders are in a position to contact the company’s customer care department in a way that is most convenient to them. These channels of communication include telephone, email and live chat. Multiple international telephone lines are also made available by the binary options trading platform provider as part of their customer support effort. Traders can directly contact the support manager who has been assigned for their region.
24option offers one of the best binary options trading platforms. Both new and experienced traders would find their platform to be simple to use and easy to navigate. As far as capital requirements are concerned, 24option ensures compliance with regulatory requirements. They are known for making consistent payouts and offering the assistance of personal account managers 24/7 for premium account holders.
Additionally, 24option offers a lot of educational material and a demo account to help traders practice binary trading strategies. In view of all these and the several key features explained above, it is recommended that traders can consider opening a trading account with 24option.Visit Site