24Option is the best online broker. They boast the latest technology in their trading platform and pride themselves on providing an easy-to-use system. The new custom platform is loaded with rich and advanced features. The company operates under the company name Rodeler Limited and is headquartered in Cyprus.
The company was regulated by CySec but stopped offering binary options. They added CFDs and Forex trading to their offerings, and expanded their client support to include managing large investment portfolios. We will continue to offer binary trading to our existing clients, but our current focus is on CFDs and Forex trading. This includes bitcoin forex pairs.
They aim to provide user-friendly trading services and provide traders with the tools they need to make a profit, including industry-leading limits.
24 Option Review – highlights;
-
- Demo Account – Yes
- Minimum deposit – $250
- Minimum trade – 0.1 lot
- Signal service – yes
- Bonus Information – As a CySec regulated broker, 24option no longer offers bonuses or trading benefits.
- Mobile App – Yes. Available for Android and iOS.
Review trading platform
24Option offers quick and easy trading and a user-friendly platform aimed at mobile trading apps. Traders can choose from several trade types and assets.
Profits depend on the performance of the underlying asset, but the platform has low spreads, meaning competitive trading costs. Forex and CFD payments, like other brokers, are entirely dependent on the movement of the underlying asset.
Trading areas are clearly laid out. Traders can select the underlying asset they wish to trade, either directly from the list or via a drop-down menu to filter the display to the desired class or category.
The trading window is always displayed next to the list and updates as soon as you select a different stock or underlying asset. You can zoom in on the price graph in the trading window to analyze more detailed price action.
Transaction History
Below the trading window is the public trading area. Here, traders can view all the trades they have opened. These are displayed whether you currently have money or not. Both the start time and current price are shown along with the expiry time. Additionally, the open trades window displays a ‘close’ value (i.e., the value at which the trader can ‘cash out’ at that point) to lock in profits or cut losses. These are only available at certain times within the trade, but are added to the trader’s options and are conveniently placed.
Transaction history is also displayed in this area. All completed trades are shown with an open price and a close price, and of course the result of the trade. There are three tabs for traders to keep informed of market changes. Trade alerts tab, daily market updates tab, and very useful economic calendar tab. This is an excellent source for finding key financial statements coming to market in the near future.
Trader’s Choice
The platform offers forex and CFDs on commodities, selected stocks and indices.
Additionally, the company now also offers “per pip” CFD trading and forex trading. This allows users to transact in a more traditional way. Users can also trade using leverage. This is a big difference if traders are more comfortable with the ‘fixed risk’ of other investment instruments.
As part of the forex push, 24option now offers Bitcoin forex pairs. This allows traders to take positions on the cryptocurrency versus USD or GBP, for example.
Since the CFD offering is relatively new, more markets will be added in the coming months. Spreads are currently around 0.05% which compares considerably to more CFD brokers.
This new type of trade also includes an option to set a stop loss level. This is a key part of risk management when using leverage. Traders can also set ‘take profit’ points.
Stop lost screen:
mobile app
24Option offers a seamless and easy mobile trading platform and works on both Android and Apple devices. By logging into the full website, traders can view a demo of the mobile app. Customers can also choose from a variety of devices for their demos.
The application has a very simple interface and each step of the trading process is made up of clear and straightforward processes. The screen is large and easy to use. This reduces the risk of mistakes with hard-to-find or hard-to-find buttons. As well as easy trades, the app can also display trade history and open trades. Thus, transaction history is available wherever traders are located. It’s a slick trading app, and it’s the addition of a host of features from the brand. Created with traders in mind, but carefully developed to provide full functionality across multiple devices.
Download the 24option mobile app here.
 |
 |
Payout
As 24option has now backed out binary options, the payouts are unmatched by other binary brokers. CFDs and Forex payments are scalable with leverage and with price fluctuations of the underlying asset.
Traders can manage risk through tools such as stop loss. You can also choose the level of leverage you want to use per trade. However, for CFDs and Forex, losses can exceed your initial deposit .
Withdrawal and deposit options
24option offers a variety of deposit and withdrawal options.
Withdrawals are normally sent back to the source of the funds. Accounts require valid identification and proof of address prior to withdrawal. This is to comply with money laundering laws. If funds were deposited via credit card, the details of that card are also required for withdrawal.
Withdrawal issues and complaints are usually related to delays in this proof-of-identity process. So it’s worth sorting out before requesting a withdrawal. This can avoid problems and ensure fast withdrawal times.
Free withdrawal
Gold and Platinum account holders can enjoy regular free withdrawal. Regular account holders get their first withdrawal for free. Remaining withdrawals may be subject to a certain fee, and this number varies depending on the method used. Skrill, for example, charges 2%. Withdrawal requests can be made at any time.
Traders can also deposit at any time. Minimum deposit is £250 (Funds can be deposited in USD and EUR too – but once set the currency your account works in cannot be changed). 24option emphasizes the security of the deposit process and strives to make depositing funds as easy as possible. Funds appear immediately once the minimum deposit is deposited, so there is no delay for traders taking options.
CFD
24Option recently announced the addition of Contracts For Difference (CFD) to its platform. The trading area has now been redesigned in-house instead of the previous TechFinancial platform, and the platform has been enhanced to include CFD trading options.
Although the initial offer is quite limited, it is an exciting step for the company and a trading area that has the potential to expand within the binary realm.
The main difference between CFD and Forex platforms is that traders can use leverage. Up to x200 levels are available. This is a big change for anyone familiar with the fixed risk nature of binaries. Traders need to understand this difference. The platform also offers a stop loss tool. You need to take on additional risk through leverage.
24option review – other features
The company offers the following features and benefits to its customers.
- Multilingual support – The brand is an international business offering transactional support in many languages including English, Spanish and Italian.
- Trading 24/5 – We offer trading when relevant markets open
- Education Center – This website offers a variety of educational resources catering to traders of all levels. This includes regular market updates, instructional videos, eBooks, and beginner trader’s manuals.
- Copy Trades – Follow trades made by award-winning traders
