24Option Review and Tutorial 2018

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24Option Facts & Figures

24Option originally focussed on binary options but have now moved into CFD and Forex trading via their new bespoke trading platform.

Demo AccountYes
Min. Deposit$250
Min. Trade$5
Regulated ByCySec
MT4 IntegrationYes
Mobile AppsiOS, Android and Windows
Trade SignalsNo
Islamic AccountNo
CFD
FTSE Spread1 pt
GBPUSD Spread4 pips
Oil Spread1 pip
Stocks Spread0.2% Var
Forex
GBPUSD Spread4 pips
EURUSD Spread3 pips
GBPEUR Spread4 pips
Assets45+
Risk Warning – Your capital is at risk

Established in 2008 initially as a Binary Options broker, 24Option is a leading CFD and binary options broker that is owned by Rodeler Ltd. The broker’s head office is located at 39 Kolonakiou Street, FREMA PLAZA, First Floor, Ayios Athanasios, Limassol, Cyprus. For traders outside of the European Economic Area, clients of 24Option are serviced by a separate company called Richfield Capital Limited based in Belize.

Although the primary offering by 24Option has been binary options, 24Option has recently begun to offer CFD trading in keeping abreast of the trend in the industry. In many ways, this is not a big departure from binary options, as CFD trading still requires you to decide on the direction of a price movements as well as the amount to be invested. The main difference is the fact that with CFD trading, there is no expiry time for the CFD contract. The CFD trader decides how long he wants to keep his trade open.

Regulation & Reputation

In terms of regulatory oversight, 24Option is regulated under 2 regulatory agencies. For operations within Europe, 24Option is regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license no. 207/13 issued to Rodeler Ltd. For operations outside of Europe, 24option comes under the jurisdiction of the International Financial Services Commission of Belize. The authorization is issued to Richfield Capital Limited under the IFSC registration number IFSC/60/440/TS/15-16.

24option Bitcoin trading

Trading Platforms

In terms of the trading platform used by 24Option, the broker previously used the binary options trading platform that was powered by TechFinancials. However in their bid to extend their product offering, 24Option now uses a proprietary platform called Scipio to provide CFDs and binary options trading services to their clients. In addition to the Scipio proprietary trading platform, 24Option has also made available the popular MT4 trading platform for traders who wish to trade the spot forex and CFD market. The main attraction of the MT4 platform is the advanced trading tools that have been integrated into the platform. This gives traders at 24Option the choice of two different trading platforms which they can use to trade the CFD market.

Mobile Trading

Even trader that finds him or herself on the move, need not worry about having to miss trading opportunities while they are away from their trading terminal. With the free mobile trading apps provided by 24Option, you can now trade the financial markets directly from your smartphone or mobile devices. The apps are available for download both on Apple’s App Store or Google Play Store. With the 24Option mobile trading app, traders can now check their trading account status, execute trades as well as keep updated with all the latest developments in the markets.

24option mobile app

Trading Accounts Offered

There are 5 different types of trading accounts available at 24Option for you to choose from. The trading accounts are categorized into Basic Account, Silver Account, Gold Account, Platinum Account and Diamond Account.

To open a live trading account, you need to place a minimum initial deposit of $250.

Bonus

As a company that tries to be in full compliance of all existing regulations, 24Option no longer offer bonuses or promo offers as per stipulated in the circular C168 (30/11/2016) and C194 (16/03/2017) issued by CySEC.

Instruments

Currently, the firm has a wide selection of underlying assets for their clients to choose from. In total, there are more than 130 different types of underlying assets. The selection comes 4 main asset classes mainly currencies (34 pairs), commodities (11 types), market indices (25 indices) and stocks (61 companies).

Customer Support

Customer support at 24Option is provided on a 24/7 basis. Traders can reach the support team through email, live chat or the telephone. For the following countries, localized telephone support is available:

Belize, Brazil, Chile, Colombia
Malaysia, Mexico, New Zealand
Peru, Russia, Saudi Arabia, Singapore
Ukraine, United Arab Emirates

Deposit & Withdrawal

For the funding and withdrawal of funds at 24Option, there are a variety of methods that you can use. The supported methods include VISA, Mastercard, Discover, Diners, Switch, JCB, Skrill, Neteller and bank wire transfer.

Are 24Option Best For Day Trading?

For day traders, 24Option is ideal as the broker is able to provide the right selection of underlying assets for day traders to trade with. For example with binary options, you can trade in contracts with an expiry time as short as 60 seconds. Likewise with CFDs, the trader has the choice to determine when he wants to close the trade. The ability to be able to arbitrarily close a trade is crucial for a day trader as a split second decision can mean the difference between profit and loss.

FAQs

What is the minimum deposit requirement to open a trading account?

The minimum deposit requirement is $250.

How fast can my withdrawal request be processed?

The typical processing time required for a withdrawal request at 24Option is 3 business days.

Is 24Option a reliable broker?

Yes. 24Option is a reliable broker as it is regulated in multiple jurisdictions. In addition, the broker has established a reputation as being one of the leading names in the industry.

What kind of trading platform does 24Option have?

24Option offers two types of trading platforms, a proprietary platform called Scipio and the MetaTrader 4 platform.

What is the maximum leverage available?

The maximum leverage offered by 24Option is 1:200.

Accepted Countries

24Option accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use 24Option from Belgium, Iran, China, Bosnia And Herzegovina, Israel, France, Japan, Australia, Canada, United States.

24Option originally focussed on binary options but have now moved into CFD and Forex trading via their new bespoke trading platform.