ProOption24 Review 2024


2.5 / 5
ProOption24 is #18 in our binary options broker rankings.

ProOption24 offers trading opportunities on forex, equities, cryptos and precious metals. A copy trading solution is also available to account holders.

$200
Own
CFDs, Forex, Stocks, Cryptos, Commodities
Up to 120% Deposit Bonus
USD
Credit Card, Debit Card, Visa, Mastercard, Bitcoin Payments

Binary Options Trading

Speculate on the price of cryptos, forex and metals with straightforward up/down contracts

Forex Trading

Trade a modest selection of currency pairs on a web-based terminal

Stock Trading

Speculate on McDonald's stock price at ProOption24

CFD Trading

Speculate on popular trading markets via the desktop terminal or copy trading solution

Crypto Trading

Trade major cryptos against the USD and EUR

Copy Trading

ProOption24 offers copy trading with leaderboards that rank top traders and associated profits.

ProOption24 is a forex, CFD and options broker that is based offshore. The brokerage offers market speculation through a proprietary web-based terminal, alongside a copy trading solution. Read on for an in-depth review of ProOption24, including an outline of the services offered and the general trustworthiness of the platform.

What Is ProOption24?

Launched in 2020, ProOption24 is an online broker that offers retail trading on several popular markets. It is run by Pro Market Group Ltd, which is based in Seychelles. The trading platform is available to investors across the globe in countries such as Germany, Canada and the UK.

Note, that if you are based in the USA, Belgium, North Korea, France, Australia, Israel or Japan, you cannot register an account.

Trading Platform

ProOption24 offers a basic platform enabling customers to execute trades. The terminal only provides Japanese candlestick charts and time frames of 1 minute, 5 minutes, 10 minutes, 30 minutes, 1 hour, 4 hours and 1 day. There are no additional tools provided on the platform, meaning that you cannot overlay indicators on the chart or create alerts. These missing elements make it difficult to complete detailed technical analysis.

ProOption24 platform review
ProOption24 Terminal

Fortunately, executing a trade on the ProOption24 platform is straightforward. First, you select the instrument you wish to trade from the dropdown list. Attached to each instrument is the profit percentage for a trade. For example, let’s imagine that you stake $100 for a binary options trade with LTC/USD and the reward is an 85% payout. If the contract finishes “in the money,” you receive a total return of $185.

Once you have selected your asset, you choose whether you want to trade a turbo option, an intraday option or a long-term option and then input the contact expiration time. Finally, you can either click the high button to place a “call” or the low button to place a “put”.

The platform is available as an online web app which you can access through the ProOption24 site, which means there is no need to download and install any software. You can use browsers such as Google Chrome, Firefox, Safari and Microsoft Edge. This means that whether you have a Windows, Mac or Linux computer, you can trade with ProOption24.

While there is no official mobile app for ProOption24, you can find a free-to-download APK file from third-party sites online.

Copy Trading

ProOption24 also provides a copy trading service where you can view the most successful traders and replicate their investments. This service is free to sign up for, and it allows you to see a leaderboard ranking of the most profitable traders, as well as each trader’s win ratio.

Note that these successful traders do not officially have jobs with ProOption24, instead they are customers of the platform. It is also impossible to verify whether these accounts are actually real people. Some beginners might find a copy trading service helpful in order to learn from other traders. However, it’s important to verify the authenticity of any trading information that you find online before you take lessons from it.

ProOption social trading

Markets

Clients can speculate on:

Account Types

Micro Account

Basic Account

Gold Account

Platinum Account

Islamic Account

Traders can open any of the ProOption24 account types in accordance with Sharia law, in order to ensure that no overnight swap fees are charged. You simply need to navigate to the ProOption24 home page and select the “Islamic Account” option when registering.

Demo Account

ProOption24 allows all investors to create a free demo trading account with $1,000 of simulated funds. Demo accounts are a good way to test out the trading platform before you decide to trust the company and make your first deposit of real capital. To create a demo account you just need to verify your email address.

ProOption24 assets

Fees

ProOption 24 is not transparent about the transaction fees or the associated deposit and withdrawal charges. For this reason, you should take extra precautions because you may find hidden charges.

There is an upfront fee of 50 USD for any deposit or withdrawal via bank transfer, which is stated in the “Terms” section of the website. The terms also state that ProOption24 can charge an additional “maintenance fee” of 20% on any withdrawal from an account which has not made a 100% turnover rate.

Overall, the ProOption24 fee structure is not clear, and it appears unreliable and unsafe when compared to the standard offered by other trading platforms.

Deposits & Withdrawals

To deposit funds to your account, ProOption24 accepts payments via credit/debit cards or cryptocurrencies such as Bitcoin, Ethereum and Litecoin. The platform states that all deposits are processed instantly.

The minimum limit for both deposits and withdrawals is $50. However, clients will need to also comply with the account thresholds which start at $200 for the Micro account.

The amount of time taken to process a withdrawal is determined by your account type. Withdrawal requests made using a Micro account can take up to 72 hours whilst for users with the platinum account, they can take between 24 and 48 hours.

Promotions

ProOption24 runs a bonus scheme with strict rules. Each account type is entitled to a bonus that is a percentage of the initial deposit, with the largest bonus of 120% offered to Platinum account users. However, the bonus rules state that you must first treble the deposit and bonus amount before it can be withdrawn. For example, if you deposit $200 and receive the 20% Micro account bonus, you will need to generate a turnover of $720 [3 x ($200 + 20%)].

ProOption24 also offers a referral scheme to encourage you to invite friends to register an account. Each user is provided with a link to send to friends and family, and if they use the link to sign up, you will receive a bonus equal to 30% of their first deposit. If you refer 10 people, the bonus increases to 40% for every subsequent user.

Finally, the platform hosts a weekly giveaway where prizes such as AirPods, iPhones, iPads and a MacBook can be won. Depending on how much you deposit, you will be entered into a draw for one of these prizes.

Regulation & Licensing

Pro Market Group Ltd has a license with the Financial Services Authority (FSA), a regulatory body in Seychelles. However, on the FSA’s register for regulated companies, neither ProOption24 or Pro Market Group Ltd are listed. Therefore, the brokerage is classed as an unregulated or offshore trading platform.

Because of the lack of regulation, it is unlikely that ProOption24 will offer standard safety measures such as negative balance protection or compensation. You should carefully consider whether to trust any offshore broker with your capital and personal information.

Customer Support

If you have an issue with ProOption24, there are several methods listed online for contacting customer support. Multilingual support is also offered.

Benefits

Drawbacks

ProOption24 Verdict

ProOption24 is a questionable broker that does not have a genuine license with the Financial Services Authority of Seychelles. The web app trading platform is limited and does not compare to other regulated platforms such as eToro or PocketOption. Basic information such as the fee structure and address of the company are also not stated on the website.

Overall, this broker is not reliable or trustworthy, and it is best to choose an alternative provider. Read reviews of other brokers to find a good trading platform.

FAQs

Where Can I Find Out More About ProOption24?

The information on the ProOption24 website is limited. To learn more about unregulated brokers, you could also consult other sources such as independent reviews or general trading advice, for example, investing blogs such as Blogspot and Medium, social media websites such as Twitter, Instagram and Facebook, plus the ProOption24 YouTube channel. If you have specific questions regarding the platform, contact the ProOption24 support team.

What Instruments Can I Trade With On ProOption24?

You can trade six crypto/fiat pairs (such as Bitcoin to USD), 15 forex pairs, the McDonald’s share price as well as gold and silver.

Is There A User Manual PDF for ProOption24?

Unfortunately, there is no ProOption24 user guide available to help users understand the platform. There is an education center on the website called the “Knowledge Base,” but it only provides basic definitions for CFDs and binary options. Official rules such as the terms and conditions for bonuses and withdrawals can be read on the website.

What Deposit Methods Are Available on ProOption24?

Users can deposit funds to ProOption24 via cryptocurrency or debit/credit cards. If you choose to trust this platform, it is recommended that you first use a card with a bank that permits chargeback. This way, you can request to reclaim the payment if you cannot trade.

How Do I Create An Account with ProOption24?

To create an account with ProOption24, visit prooption24.com/login and click the “sign-up” button. This will redirect you to a page that asks for your name, phone number, email and to create a password. From here you can choose whether you want to start with a demo account or make a deposit.

Top 3 Alternatives to ProOption24

Compare ProOption24 with the top 3 similar brokers that accept traders from your location.

  1. Grand Capital – Grand Capital is a MetaTrader broker with welcome bonuses, trading competitions and an intuitive copy trading service. Several account types and 400+ assets provide trading opportunities for various types of investors and strategies. New users can also open an account and start trading in a matter of minutes.

  2. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

  3. Deriv.com – Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can’t be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

ProOption24 Comparison Table

Compare ProOption24 With Similar Brokers
ProOption24 Grand Capital World Forex Deriv.com
Rating 2.5 3.9 4 4.4
Markets CFDs, Forex, Stocks, Cryptos, Commodities CFDs, Forex, Indices, Shares, Energies, Metals, Cryptocurrencies, Binary Options Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts CFDs, Multipliers, Forex, Stocks, Indices, Commodities
Demo Account Yes Yes Yes Yes
Minimum Deposit $200 $10 $1 $5
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators Unregulated FinaCom SVGFSA MFSA, LFSA, VFSC, BFSC
Bonus Up to 120% Deposit Bonus 40% deposit bonus 100% Deposit Bonus
Education No No No No
Platforms Own MT4, MT5 MT4, MT5 Deriv Trader, MT5
Leverage 1:500 1:1000 1:1000
Payment Methods 5 14 10 22
Visit Visit Visit Visit Visit
Review Grand Capital
Review
World Forex
Review
Deriv.com
Review

Compare Trading Instruments

Compare the markets and instruments offered by ProOption24 and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare ProOption24 Trading Instruments
ProOption24 Grand Capital World Forex Deriv.com
Binary Options Yes Yes Yes Yes
Expiry Times 1 minute – 48 hours 1 minute – 7 days 15 seconds to 365 days
Ladder Options No No No Yes
Boundary Options No No No Yes
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes Yes Yes
Corn No Yes No No
Crypto Yes Yes Yes Yes
Futures No No No No
Options No No No Yes
ETFs No Yes No No
Bonds Yes No No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No Yes No Yes

ProOption24 vs Other Brokers

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ProOption24 offers trading opportunities on forex, equities, cryptos and precious metals. A copy trading solution is also available to account holders.