24Option Review & Credibility:
In this 24Option review we will look at how 24Option is one of the leading platforms within binary options and CFD trading. We have taken an in depth look at 24Option, opened an account with them and provide for you the findings with have gained to provide you with the relevant information you will need to decide if 24Option is the trading platform for you.
24Option are regulated, in a number of major countries and with major financial authorities. Below we have listed the main organizations they are regulated by.
CySEC– CySEC monitors companies who offer financial services, ensuring full compliance to financial laws and regulations for the businesses registered in Cyprus and the EU. 24Option’s license number is 207/13
FCA – The Financial Conduct Authority is the main financial regulatory body for the UK. 24Option’s FCA reference number is 610021
Rodeler Limited the owners of 24Option is allowed to offer their services across a number of EU member states and are registered with the each countries relevant authority. The full list of countries can be found on their website in their regulation section.
24Option on Mobile
24Option do provide a mobile app for both Android and iOS .On Google Play it has a 3.8 star rating from over 5,200 reviews and over 500,000 downloads. On Apple store the app is rated 4/5 stars from 70 plus reviews
As you can see from the screen shots below, the mobile app has a simple interface that enables you to see the trading screen, select your trading choice, be it stocks, commodities, indices or Forex.
You can check out the images above of the 24Option trading platform and see that it is a straightforward platform with everything easily available. From the platform you can trade in binary, Forex, CFD’s (all of which we will get onto a little bit more in a moment) and Banking,
24Option use the platform of a third-party called TechFinancial, one of the worlds leading providers of trading platforms. They have been established since 2009, and are listed on the London Stock Exchange AIM market.
You can see that the platform itself is as we mention , straightforward. Everything that you need is on the one screen or easily accessible through a mouse click All prices are in real time, so you don’t need to be concerned as to whether the price shown is correct or not..Also available is a wide choice of pricing options made available by 24Option. You can optimize pay outs, which enables you to develop your trading experience. 24Option’s payout score is usually between 70 and 88 percent per successful trade.
Having played with the 24Option platform I do have to say that overall it is OK. Everything is there and you can access it, but I personally find it a bit too busy, especially when you compare it to the platform of IQ Option, which I feel is a lot easier to read and use, but that is simply my opinion.
24Option trading platform allows you to trade in binary options, Forex, CFD’s and Banking. The assets are broken into these groups, which I’ll outline for you below.
Forex Binary Trading
With 24Option you are dealing in currency pairs. 24Option offer 29 different binary option assets in Forex, from the standard such as EURO/USD and GBP/CAD to the not so popular such as the NewZealand Dollar / Swiss Franc.Currency related options is similar to Forex trading but in this case you are not trading any actual currency. 24Option do offer Forex trading which I’ll get to further down the page.
Commodities are physical tangible items such as precious metals investment and oil, coffee and corn. 24Option offer 11 commodity assets for you to trade in Items like these are highly effected in their trading by world events, such as war, political unrest and major elections.
Option24 offer 20 different indices to trade in. You have the likes of the NAQDAQ 100 Future, The Moscow exchange (MICEX) and the Bombay30, to name just three. So you can see Option24 do have a wide selection of indices available.
Finally on the binary options trading side 24Option offer over 50 of the biggest companies for you to trade inn. You have your traditional companies like Coke-Cola and Disney, to the social media companies like Twitter and SnapChat.
This is of course separate from the Forex within binary options, here you are trading in the currency. The default leverage on Forex is 1:50, you are able to increase it. The popular leverage is 1:100. In the binary options 24Option provided 29 different assets to trade in, here in Forex trading you have over 40 assets to chose from.
24Option are one of the first binary option companies to also offer CFD trading. When you consider that Plus500 only offers CFD trading, then you can see how beneficial having this option on the 24Option platform is. (if you are not sure what the difference is between binary option trading and CFD trading, then I recommend you read the article we have on the site on CFD Trading before you go any further)
Like the binary options section, here in the CFD trading section 24Option offer you Forex, Commodities, Indices and Stocks. The assets that are available in the CFD Trading section are not necessarily the same as in teh binary options section. For example, in the commodities group in CFD Trading, you are able to trade CFD’s in orange juice and Soybeans, which are not available in the binary options. This therefore gives you more options and more opportunities to trade in different assets.
24Option Binary Options Guide:
The binary options guide from 24Option is quite straightforward. They guide you through 4 steps to start trading.
- Regulation Requirements
- Funding Your Account
- Explore The Trading Platform
- Choose and Trade
From the 24Option binary options guide section you can access their Video Trading Academy. Here you will find a selection of videos covering the three main abilities of trading; basic, intermediate and advanced.
In section covering the basics you have 14 videos for you to watch to help you understand the key elements of trading
the Intermediate section has 11 videos covering the different strategies you can use to trade, over 3 different levels.
Finally the advanced section has 9 training videos covering naturally more advanced trading issues
Whether you are a beginner or advanced, the training section is a good place to start ads it will help you familiarize yourself with the 24Option platform.
24Option Demo Trading Account:
As we have already hinted at, 24Option provides you with a demo account when you open an new trading account with them. The first thing you must note is that the demo account is not automatically given to you, you have to complete the registration process and fund your account first before you then get a 10,000 Euros demo account, it is not automatically given to you like other platforms. Even though you have to fund your account first (the minimum amount is $250) if you you do want to use the 24Option platform, it is best to begin with the demo account, so you can get used to its operation.
So what do you get with the 24Option binary options demo trading account? – You get everything that is in the live account except for the fact that all your binary options trades are virtual. All the charts and feed are live and the pricing is actual, so it is as if you are trading live, but of course with virtual fundsClick Here To Open Your 24Option Demo Account
Once you have moved from the demo account to your live binary options account and have added your funds, been trading and have money in your account, you can withdrawal funds from your account. There are a number if key pointers relating to the withdrawal of funds.
24Option Fund Withdrawal Methods
24Option offer a wide variety of payment and funding methods. There are the usual like Visa, MasterCard, Debit card, wire transfer, Skrill and so on:
I looked on the internet for complaints about 24option and I did find a few on a number of different forums. However, most of them were to do with withdrawal of funds and the latest complaints were back in 2014. I couldn’t find anything more recent.
24Option do have a reputation for being an excellent broker with high quality customer support. When I opened my account I was called the same day. The advisor wanted to ensure I was happy with the platform, had everything I needed and was prepared to guide me through the set up process if I needed anything. She was extremely helpful and polite and I have spoken to her a few times making my experience with 24Option a very enjoyable one.
It is important to add that just like any large organisation that has thousands of customers are will be issues from time to time, but I do feel that because of the customer support they have in place, this may be why I struggle to find any serious complaints on line.
You must carry out your own due diligence to make sure you are happy, so spend the time to speak with your customer support adviser and they will answer all your questions for you.
Concerns /Things To Consider
The main things to consider when looking to use 24Option binary options trading platform is that it is not available to every country around the world. If you live in USA, Australia, Belgium, then the platform is not available to you. There maybe other countries that can’t use 24Option but the list is not readily available, so it can’t be that many.
The platform is great, 24Option have recently upgraded to the Meta trader 4, the first to do so, making them both innovators and leaders. It is powerful, but it isn’t the easiest to use in my opinion. They do have a good training center. My only drawback is the demo account. Other binary options platforms offer you a free demo account without having to fund your main account first.
If you are considering starting binary options trading then 24Option is a good place to start due to the education center available and demo account if you have $250 to fund your main account first. They have a low minimum investment of $24 and one of the largest selection of assets in binary and CFD trading available. Their customer support is very good as they guide you through your setup and initial trading. After all your success is their success. As an official partner of Juventus Football Club they have a growing reputation as a market leader. Certainly worth checking out further.