24Option Review 2022

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Trade nearly 200+ global stocks at 24Option via CFDs. Spreads are competitive and stop loss and take profit orders are available. Even trade new cannabis firms in Canada!

InstrumentsCFD, Forex, Crypto, Binary Options, Stocks, Digital Options
Demo AccountYes
Min. Deposit$250
Payment Methods
Min. TradeFrom 0.1 lots
Regulated ByCySec
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralNo
AutochartistNo
eSignalNo
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS, Android and Windows
Margin TradingNo
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
TournamentsNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Social TradingNo
Copy TradingNo
Islamic AccountNo
CFD TradingYes
CFD FTSE Spread1 pt
CFD GBPUSD Spread0.2 pips (var)
CFD Oil Spread1 pip
CFD Stocks Spread0.2% Var
CFD Leverage1:30 EU, 1:200
Forex Trading24Option deliver a high quality forex trading service, with over 45 currency pairs and variable spreads from just 3 pips.
Forex GBPUSD Spread0.2 pips (var)
Forex EURUSD Spread0.2 pips (var)
Forex EURGBP Spread0.9 pips (var)
Forex Assets45+
Crypto Trading24option offer crypto with the tightest margins. They also offer markets against a range of currencies, not just USD.
Crypto SpreadBTC 0.4%, ETH 0.5%
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • BCH
  • BTC
  • BTG
  • ETH
  • LTC
  • XRM
  • XRP
Binary OptionsYes
Ladder OptionsNo
Boundary OptionsYes
Risk Warning – Your capital is at risk

24Option were created in 2008. Opening as a Binary Options broker, 24Option is now a leading CFD and forex brand owned by Rodeler Ltd. The firm’s head office is located in Cyprus . For traders outside of the EEA (European Economic Area), customers of 24Option do business via a separate company called Richfield Capital Limited based in Belize.

In the past, the main product offered has been binary options. But 24Option has recently begun to offer CFD trading and forex in a bid to rival the more established brokers in the sector. The similarities between the products meant 24option were able to build their own bespoke trading platform, and add new functionality for CFD and forex trades. Binaries have now been removed completely.

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 (with the same login details) called Scipio to provide CFDs and forex trading services.

MetaTrader 4

In addition to the Scipio trading platform, 24Option has also integrated the popular MT4 trading platform for traders who wish to trade the spot forex and CFD markets. The main attraction of the MT4 platform is the advanced trading tools that have been integrated into the platform.

So traders can use one of two platforms, each provides different strengths. MT4 is perhaps more complex to use, but includes way more analysis tools and also automation options. The traditional platform is easier to use. Traders can of course, perform research on one platform, and trade on the other. Login details remain the same for both.

Mobile Trading

24option provide a free mobile trading app for both iOS (iPhone and iPad) and android. The apps are available for download both on Apple’s App Store or Google Play Store. The app delivers all of the functionality of the main website, including many account management features. The app takes advantage of the strengths of each platform (android or iOS) in order to maximise the functionality on every device.

Using the app is slick and intuitive. The login process is quick but secure. Technical analysis becomes hard on smaller screens, but trading and amending details are straightforward and a real bonus for traders who need to react to events while they are away from their computer or laptop.

24option mobile app

Trading Accounts Offered

There are 4 different types of trading accounts available at 24Option for you to choose from. The trading accounts are categorized into Basic Account, Gold Account, Platinum Account and the VIP Account (previously Diamond).

Each level of account offers slightly better terms, including more lessons and tighter spreads.

24option account TypesTo open a live trading account, you need to meet a minimum initial deposit of $100.

Regulation & Reputation

Are 24Option a scam, or are they trustworthy? Their regulatory history suggests that they are a responsible company. The move away from the binary sector was designed to maintain their 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.

Bonus

Owing to the recent memo from CySec ( C168 (30/11/2016) and C194 (16/03/2017)), bonuses – either deposit bonus of free trades etc – are now prohibited. 24Option therefore do not currently offer a sign up bonus.

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.

Accepted Countries

24Option accepts traders from Thailand, South Africa, Singapore, Hong Kong, 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, India, Nigeria, Brazil, Switzerland, United Kingdom, Germany, Norway, Sweden, Spain, Italy, Denmark.

Compare

Compare with similar brokers that accept traders from your location. Among available brokers these are the most similar to 24Option:

  1. Nadex – The leading US trading Exchange. Nadex offer genuine exchange trading to US clients on Binary Options. Fully regulated by the CFTC.
  2. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
  3. Quotex – Quotex offers a proprietary web platform that has digital options and trading signals.
  4. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.

Comparison Table

Compare With Similar Brokers
Nadex Forex.com Quotex IG Group
Rating 4.3 4.5 4.4 4.4
Markets Forex Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $100 $10 £250
Minimum Trade $1 $1 $1 0.1 lots
Regulators CFTC CySEC, IIROC, NFA, CFTC, FCA, CIMA FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
Bonus No 30% Deposit Bonus
Education No Yes No Yes
Platforms MT4 MT4
Leverage 1:200 1:30
Payment Methods 7 8 10 6
Detailed Comparison vs Nadex vs Forex.com vs Quotex vs IG Group
Visit
Review Nadex
Review
Forex.com
Review
Quotex
Review
IG Group
Review

Compare Trading Instruments

Compare Trading Instruments
Nadex Forex.com Quotex IG Group
CFD No Yes No Yes
Forex Yes Yes Yes Yes
Stocks No Yes Yes Yes
Commodities Yes Yes Yes
Oil No Yes Yes Yes
Gold No Yes Yes Yes
Copper No No No Yes
Silver No Yes Yes Yes
Corn No No No No
Crypto No Yes Yes Yes
Futures No Yes No Yes
Options No Yes No Yes
ETFs No No No Yes
Bonds No No No Yes
Warrants No No No No
Spreadbetting No No No Yes
Volatility Index No No No Yes

vs Other Brokers

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24Option vs

FAQ

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.

24Option Company Details

24Option are based at: 39 Kolonakiou Street, FREMA PLAZA, First Floor, Ayios Athanasios, Limassol, Cyprus

Trade nearly 200+ global stocks at 24Option via CFDs. Spreads are competitive and stop loss and take profit orders are available. Even trade new cannabis firms in Canada!

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