Table of contents:
- 1 Pro and Cons: Trading with 24Option
- 1.1 Conditions with 24Option
- 1.2 Regulation and security
- 1.3 Our experience with 24Option
- 1.4 Trading opportunities and underlying at 24option
- 1.5 The 24option test account
- 1.6 Four account models to choose from
- 1.7 Two premium account with great options
- 1.8 Bonuses for 24option
- 1.9 Deposits and withdrawals at 24Option
- 1.10 Payout quick and easy
- 1.11 Trading conditions for 24Option
- 1.12 Security, regulation and safe trading
- 1.13 24option – special features
- 1.14 Customer support
- 1.15 Usability Of desktop version and app
- 1.16 Conclusion: 24Option offers trading on a high level
24Option is an online broker that is one of the best known traders in binary trading and is based in London. In the meantime, he is also increasingly offering products in the area of Forex and Contracts for Difference (CFDs) and has thus expanded his product portfolio to include interesting investment opportunities with attractive returns. Already since 2013, investors can follow their own strategies in CFD trading with Broker 24 Option. For trading in binary options, traders can choose from over 53 stocks such as currencies, commodities, indices or shares. They have maturities ranging from 30 seconds to one month. On several trading platforms you can find not only the classic up/down options but also other variants such as Boundary and One Touch Options. The Broker is characterized by reliability, easy handling of the online platforms and exciting trading opportunities.
Pro and Cons: Trading with 24Option
The advantages and disadvantages of 24Option
- +Minimum deposit is 100 Euro
- +traded with binary options, CFDs and Forex
- +more than 150 assets
- +Regulation by the CySEC
- +Trading via Trading App possible
- +easy account opening
- +free 24Option demo account
- +maximum lever of 1:30
- -no information about fees on the website
24Option offers traders a reliable trading platform. It is stable and well structured, so that they can quickly find their way around. This applies both to the version used on the computer and to the app, which makes mobile trading possible anytime and anywhere. Over the last five years, 24Option has built up a remarkable customer base. The partnership with Juventus Turin has suddenly increased the broker’s level of recognition. Traders who opt for 24Option receive attractive conditions and good general conditions for trading from the provider. Opening an account is quick and easy. For the first steps in short-term investments, the broker provides a 24Option demo, which is interesting not only for beginners but also for experienced traders. Trading can be started with a minimum deposit of 100 Euros on the real money account. 24Option is subject to the EU guidelines and is monitored and regulated by CySEC. In addition, there is a customer support, with which all questions and problems can be easily clarified.
Conditions with 24Option
The conditions offered to traders by online brokers are very advantageous. On the one hand, the costs are reduced to a minimum so that profits can be achieved as easily as possible through trading. Therefore, the broker offers significantly lower profit margins than other online brokers. The extensive and fair conditions and the offer of the broker are what make the 24Option stand out. Because this ensures perfect trading with various advantages. The costs incurred are as follows:
- Payouts are associated with fees
- No fees for trading itself
- Costs below the payout amount of less than 100 Euro
- A fee of 10 Euro is charged for dormant accounts
- Before using the demo account at 24Option, 250 euros must be deposited into the real money account
- Costs and fees are incurred in the event of false declarations
- Trading App for iOS and Android
- Account for professional traders with a leverage of 1:400 and for retail clients of 1:30
The online broker offers traders permanent trading of binary options, commodities, currencies, indices, CFDs and shares once the initial deposit has been made into the real money account. To try trading you should use the 24Option demo account.
Regulation and security
Because every trader is concerned about security and wants to protect his money, 24Option provides a nice security package. Rodeler Limited, which is operated by broker 24Option, is based in Cyprus and is supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC). CySEC’s requirements are based on EU legislation and are therefore comparatively strict. Although there are no offices in Germany, there is an address in Cologne, which is listed under 24Option Germany. This address is used for postal customer support. The broker is internationally positioned and attaches great importance to close customer contact. Therefore there is a multilingual support. The company Rodler Limited is registered in Germany with the Federal Financial Supervisory Authority (BaFin). This is not only proof of seriousness, but also of high security.
Our experience with 24Option
24Option is no longer an unknown quantity, as the professional broker offers his traders a first-class framework for financial trading. The trading platform is MetaTrader 4, which is used for trading at home and on the road with the app. Most traders are familiar with this high-quality trading software. Those who have not yet come into contact with it, will experience great pleasure when trading with it. Thanks to the software, trading is very simple and very clear. A lot of important information is provided on the platform. At the same time there is a little support in the training area of the broker. Trading is done with more than 200 underlying instruments, for which various levers can be used. Bitcoin, for example, can be traded with a leverage of 1:5. German traders even have a leverage of up to 1:30 wide.
The trading account is opened quickly and conveniently. Those who have not yet gained any experience with trading should definitely use the 24Option demo account. With the demo version, traders get to know all functions and can practice the trading process very well. For registration there is a registration form on the website, where all important key data are entered. This includes:
- Last name
- First name
- Date of birth
- the definition of a password
- E-mail address
Subsequently, the post-identification procedure can be used to verify the information provided and bring the desired security into the process. The securities account is then available to investors in full. As this process has been refined more and more in recent years, it can be processed much faster. Important information on the first steps with the new securities account will be sent to the postbox. This means that traders always have a good overview of their own trades, can keep an eye on them and derive the desired benefits.
Trading opportunities and underlying at 24option
At 24Option has changed slightly in recent months due to legal requirements. Private investors no longer have the opportunity to trade in binary options. However, there is now the possibility to trade CFDs, Forex or crypto currencies. There are more than 200 underlying assets such as currency pairs, commodities, stocks, indices and kyptos tradable. You can find Bitcoin, Litecoin, Ripple and Ethereum. Trading takes place five days a week, 24 hours a day,
A larger selection can be found in the indices. The “German” DAX-30, the FTSE-100, the Dow Jones, S&P500 and Nikkei 225 are available, but the largest selection is in the portfolio of stocks. Here, traders can choose from over 100 stocks, including Deutsche Lufthansa, BMW, Barclay, PetroChina, Vodafone, ANZ and Royal Dutch. In addition, sugar, coffee, corn, oil and copper can be traded. Currency pairs are offered for trading, for example EUR/CHF, EUR/USD, NZD/JPY, GBP/USD or USD/JPY. A special advantage: Traders who would like to get a first overview of the product portfolio can do this in the 24Option Demo Account, work out their own strategies and see if they work.
The 24option test account
In order to use the demo account of 24Option, you must first agree to the agreements, provide an email address and set a password. The demo account is equipped with a virtual credit that can be used for the different threads. A real money return can of course not be earned with it. The nice thing about the 24Option Forex demo account or 24Option CFD demo account are simulations of the real situation, with which you can gain initial experience. The first errors, which occur automatically when trading, only reduce the virtual account and not the real money account. The changeover to a real money account is quite simple. Because the 24Option Demo Account is designed in exactly the same way as when trading with real money, you can start trading after the demo experience to get nice returns.
Once the real money account has been opened and at least 100 euros have been deposited into the customer account, trading is possible with a minimum amount of 0.01 lot and spreads from 3 pips. Retail clients have a leverage of 1:30 and professional clients a leverage of 1:400.
Four account models to choose from
Traders who open an account with 24Option have the choice of four different account models. Which account type can be used depends on the deposit the trader makes into the real money account. The higher the deposit, the more extensive the account’s features. Connected to this is access to different content of the broker, which the trader can use. The smallest account model that is offered is the Basic account. Traders are given an introduction to the account options and are assigned a dedicated account manager who is on hand to help. There are also daily market reports as well as seminars and webinars for training that can be attended. The next level up is the Silver account. In addition to the points already mentioned, traders receive interesting explanations on risk management and at the same time explanations on strategies that can be used very well when trading to increase the chances of winning. Furthermore, personal tutorials can be created.
Two premium account with great options
The Gold Account provides even better conditions. The account manager on the side looks back on a wealth of experience which he passes on to the traders. A special extra for gold traders is a personal MetaTrader 4 course, which gives deep insights into the software and related trading possibilities. However, the highest quality account at 24Option is the Platinum account. Users of this account type have access to all features and additions that are not available with the other accounts. At the same time this account offers free withdrawals from the trading account. Traders with a Platinum account receive a special extra, as here the costs are settled solely in the form of spreads. With the other three types of accounts offered, however, fees must be expected which painfully reduce the returns earned.
Since 24Option uses the MetaTrader 4 trading platform, traders can look forward to targeted and effective trading, while at the same time receiving all kinds of interesting and useful additional functions. This includes a precise analysis of the charts and at the same time all movements of the charts are clearly displayed in different colors. This makes it especially easy to recognize changes and react immediately.
By the way: The very first payout the trader makes with a standard account is free of charge. Fees are charged for each further payout. The situation is different with the Gold Account, where one payout per month is free. Only when a second payout is made each month do fees arise.
Bonuses for 24option
The online broker does not offer a bonus for new customers. However, this cannot be seen as negative, because 24Option is not allowed to offer bonuses at all due to legal regulations. In addition, it has often enough been shown with other trading platforms that bonus offers were tied to turnover regulations which, on the one hand, were hardly to be fulfilled and therefore had nothing in common with fair. Regardless of whether it is a real money account or a demo account at 24Option – the broker complies with the legal regulations and thus underlines its seriousness. The 24Option demo can certainly be seen as a bonus, as it cannot be used free of charge on every trading platform.
Deposits and withdrawals at 24Option
For traders, 24Option provides various ways to deposit money into the trading account. These include not only credit card, instant bank transfer and wire transfer, which are among the classic deposit methods. Paysafecard and e-wallets such as Giropay, Skrill and Neteller are also available. Less popular payment options can also be chosen. Examples are Discover, Diners, Switch or JCB. Traders do not need to worry about individual charges for the different payment methods. However, 24Option requires a minimum deposit of 250 Euro on the trading account. Afterwards, the trader has access to the real trading and the 24Option demo.
Payout quick and easy
Anyone who has paid in capital would like to have possible returns paid out. For this, 24Option offers the same possibilities in principle as for the deposit. A payout can only not be made via the Paysafecard. In case of doubt, the payouts are then processed via the bank account. Gold and Platinum customers pay no fees. All other traders pay 3.50 percent for a debit and credit card and 24 Euro fees for a bank transfer. Those who use e-wallets pay 0.9 percent for Webmoney, 2.0 percent for Skrill and 3.5 percent for Neteller and Qiwi. Traders should note that a payout from the trading account is only possible after the customer has verified himself with a copy of official documents such as an identity card or passport.
Overview of deposits and withdrawals:
- Deposit methods: Switch, Discovery, Diners, Giropaly, JCB, Bank transfer, Neteller, Paysafecard, Sofortüberweisung, fast bank transfer, Mastercard
- Minimum deposit: 250 Euro
- Deposit fees: none
- Accepted currencies: JPY, CHF, USD, EUR, RUB, CNY, GBP
- Payout options: bank transfer, Visa, Mastercard, fast bank transfer, Mastercard, Skrill, Neteller
Trading conditions for 24Option
Trading with an online broker is very pleasant, as this is possible even with small transaction sizes. They are just one lot, i.e. 1,000 currency units. The maximum leverage is calculated at 1:30. Professionals can even use a leverage of 1:400. Only a small amount of capital is required to trade in euros, for example. On world currencies, i.e. on majors such as the US dollar, euro and Swiss franc, the spread averages 2 pips. Traders look in vain for this with other online brokers. Of course, exotic currencies can also be traded. However, one should bear in mind that the pips can be significantly higher. Those who engage in online trading with 24Option not only get a rich portfolio of tradable assets, but also extremely good conditions.
Security, regulation and safe trading
If you want to register with 24Option, you should consider the important topics of safety, regulation and safe trading before you register. With this broker, the trader’s deposits are protected by the statutory deposit insurance up to 20,000 euros per investor. Of course it is clear that this deposit protection only applies to account balances. Any losses resulting from Forex and CFD trading are not covered. In addition, client funds are kept separate from company assets in separate accounts. Even if the company gets into financial difficulties, potential creditors will not have access to the investors’ funds. This ensures a high potential of security with regard to the deposits.
All information transmitted to the trader uses SSL encryption. This guarantees that highly sensitive data cannot fall into the wrong hands. The same state-of-the-art encryption is also used for online banking. Accordingly, there are no security concerns when trading via the 24Option trading platform.
24option – special features
If you want to be up to date at all times and can’t do without trading even when you’re on the move, the 24Option trading app is the perfect solution. It is available for iOS and Android and can be conveniently downloaded from the respective app store and used immediately. All important information can be found on the broker’s website. As the program is web-based, it can also be used via the respective browser without having to install it first. The simple operation allows traders quick access to trades and prices. At the same time, current news can be called up, chart analysis can be viewed and trading with interesting assets can begin immediately. Just as easy is the use of the desktop version, which is very clearly arranged. There is access to various learning options, the demo account at 24Option and other practical help.
There is a lot of interesting information to be discovered on the website of the online broker. Some information can already be found while browsing. However, if there are still open questions and problems, it is worth contacting the customer service. Contact can be established through various channels. The customer service employees are available 24 hours a day, seven days a week. Traders can use the live chat, where employees are guaranteed to be available quickly and respond with qualified answers to all questions. Other communication channels include the telephone, callback service and e-mail. However, waiting times must be expected here. Since the support team speaks English, German, Italian, Spanish, Russian, Arabic, Portuguese, Swedish, Norwegian, Polish and Dutch, investors can communicate with the employees in their native language. However, it should always be borne in mind that contacting them by phone can result in additional costs, which can be painfully reflected on the next phone bill.
Unfortunately, 24Option does not have a FAQ area or a help area that answers the most important questions that are frequently asked by traders. Even though there is a lot of information on different questions on the website, the bundling on one subpage is very convenient for users.
Usability Of desktop version and app
The website and the 24Option Account for testing make a very modern impression and are characterized by a simple menu navigation. All important areas are accessible from the start page and can be controlled with a few clicks. It is noticeable that not all subpages have been completely translated yet, so that traders are surprised here and there with English. Due to the structured and clear design, even newcomers will quickly find their way around. It doesn’t matter whether the download or web trader version is used, as there are no noticeable differences. When using the app on an Android device, the same general conditions apply as for iOS. The intuitive handling, which is already known from the desktop version, is also found in the app.
Conclusion: 24Option offers trading on a high level
24Option offers both beginners and experienced traders an equally interesting portfolio to either start trading and gain initial experience or to get off to a good start. The appealing selection of underlyings provides nice opportunities. However, the various specifications for the leverage must be taken into account.
Those who choose a Platinum account enjoy many advantages and can rely on the fact that there are no fees for trading with spreads. The fact that several account models are available is extremely interesting. This means that every trader can find exactly the right account for his or her own needs. Unfortunately, 24Option only offers the possibility of avoiding payout fees with the high-quality account models.
With regard to security and regulation, investors are on the safe side with this online broker, as a CySEC license is available and further protective measures such as deposit protection are available. With the demo account, seminars and webinars, the entry into trading at 24Option is not difficult, especially since the demo platform is no different from the real trading platform. Newly developed strategies in the demo area can be applied immediately with real money to interesting assets and achieve nice returns.
Forex and CFD trading is ideal for high returns, but there is always a risk involved, especially with CFDs, that should be taken into account. This can be minimized if traders always keep an eye on the prices via the real-time chart. Unfortunately, with 24Option it is only possible to trade binary options as a professional. But the offer for normal traders is not to be sneezed at. The profits are 89 percent and at the same time there is a loss guarantee of up to 10 percent. That is better than with some other online brokers.